SM Energy (NYSE:SM – Get Rating) – KeyCorp lifted their FY2022 EPS estimates for SM Energy in a research report issued on Sunday, November 6th. KeyCorp analyst T. Rezvan now anticipates that the energy company will earn $7.77 per share for the year, up from their previous forecast of $7.68. KeyCorp currently has a “Overweight” rating and a $64.00 target price on the stock. The consensus estimate for SM Energy’s current full-year earnings is $7.59 per share. KeyCorp also issued estimates for SM Energy’s Q4 2022 earnings at $1.77 EPS, Q1 2023 earnings at $2.94 EPS, Q2 2023 earnings at $2.42 EPS, Q3 2023 earnings at $2.54 EPS, Q4 2023 earnings at $2.79 EPS and FY2023 earnings at $10.69 EPS.
Several other research firms also recently issued reports on SM. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Monday. MKM Partners reiterated a “buy” rating and issued a $54.00 target price on shares of SM Energy in a research report on Wednesday, July 20th. Finally, Barclays dropped their target price on SM Energy from $51.00 to $46.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SM Energy has a consensus rating of “Moderate Buy” and an average price target of $52.13.
SM Energy Stock Performance
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its position in shares of SM Energy by 677.3% during the 3rd quarter. Global Retirement Partners LLC now owns 583 shares of the energy company’s stock valued at $26,000 after buying an additional 508 shares in the last quarter. CWM LLC lifted its position in shares of SM Energy by 99.3% during the 3rd quarter. CWM LLC now owns 867 shares of the energy company’s stock valued at $33,000 after buying an additional 432 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of SM Energy during the 2nd quarter valued at approximately $34,000. Larson Financial Group LLC acquired a new position in SM Energy in the 3rd quarter valued at $38,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in SM Energy in the 1st quarter valued at $112,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Insiders Place Their Bets
In other SM Energy news, EVP David W. Copeland sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $46.23, for a total value of $462,300.00. Following the sale, the executive vice president now owns 228,543 shares in the company, valued at approximately $10,565,542.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SM Energy news, CAO Patrick A. Lytle sold 8,658 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $45.61, for a total value of $394,891.38. Following the sale, the chief accounting officer now owns 12,463 shares in the company, valued at approximately $568,437.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David W. Copeland sold 10,000 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $46.23, for a total value of $462,300.00. Following the transaction, the executive vice president now owns 228,543 shares in the company, valued at approximately $10,565,542.89. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
SM Energy Increases Dividend
The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were given a $0.15 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Monday, October 24th. This is a positive change from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s dividend payout ratio is currently 5.83%.
SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.
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