Equities Analysts Set Expectations for SM Energy’s Q1 2024 Earnings (NYSE:SM)

SM Energy (NYSE:SM – Get Rating) – Equities researchers at KeyCorp issued their Q1 2024 EPS estimates for shares of SM Energy in a research note issued to investors on Sunday, January 8th. KeyCorp analyst T. Rezvan forecasts that the energy company will earn $2.65 per share for the quarter. KeyCorp currently has a “Overweight” rating and a $56.00 target price on the stock. The consensus estimate for SM Energy’s current full-year earnings is $7.32 per share. KeyCorp also issued estimates for SM Energy’s Q2 2024 earnings at $2.29 EPS, Q3 2024 earnings at $2.21 EPS, Q4 2024 earnings at $2.64 EPS and FY2024 earnings at $9.78 EPS.

SM Energy (NYSE:SM – Get Rating) last released its earnings results on Thursday, November 3rd. The energy company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.05. SM Energy had a net margin of 36.09% and a return on equity of 37.36%. The company had revenue of $835.45 million for the quarter, compared to analysts’ expectations of $699.92 million.

SM has been the subject of a number of other reports. Mizuho assumed coverage on shares of SM Energy in a report on Monday. They set a “buy” rating and a $51.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of SM Energy from $53.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, November 14th. StockNews.com raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, December 21st. JPMorgan Chase & Co. lowered shares of SM Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $55.00 to $46.00 in a report on Wednesday, January 4th. Finally, Barclays cut their target price on shares of SM Energy from $51.00 to $46.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

SM Energy Trading Up 2.2 %

Shares of SM opened at $31.90 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.99 and a quick ratio of 0.99. SM Energy has a 1 year low of $28.91 and a 1 year high of $54.97. The company has a 50 day simple moving average of $38.76 and a two-hundred day simple moving average of $39.79. The firm has a market cap of $3.92 billion, a P/E ratio of 3.10 and a beta of 4.48.

SM Energy Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, February 6th. Investors of record on Friday, January 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, January 19th. This represents a yield of 0.9%. SM Energy’s dividend payout ratio is presently 2.92%.

Insider Buying and Selling

In related news, Director Julio M. Quintana sold 22,300 shares of the firm’s stock in a transaction on Friday, October 21st. The stock was sold at an average price of $42.79, for a total value of $954,217.00. Following the completion of the sale, the director now directly owns 121,944 shares in the company, valued at $5,217,983.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of SM Energy

Institutional investors and hedge funds 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 third quarter. Global Retirement Partners LLC now owns 583 shares of the energy company’s stock worth $26,000 after purchasing an additional 508 shares during the last quarter. CWM LLC raised its holdings in shares of SM Energy by 99.3% in the third quarter. CWM LLC now owns 867 shares of the energy company’s stock valued at $33,000 after acquiring an additional 432 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of SM Energy in the second quarter valued at about $34,000. Larson Financial Group LLC bought a new stake in shares of SM Energy in the third quarter valued at about $38,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of SM Energy by 1,338.7% in the third quarter. Quadrant Capital Group LLC now owns 2,230 shares of the energy company’s stock valued at $84,000 after acquiring an additional 2,075 shares in the last quarter. 89.45% of the stock is currently owned by institutional investors.

SM Energy Company Profile

(Get Rating)

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.