SM Energy (NYSE:SM) to Post Q3 2024 Earnings of $2.01 Per Share, Roth Capital Forecasts

SM Energy (NYSE:SM) – Roth Capital upped their Q3 2024 earnings per share (EPS) estimates for shares of SM Energy in a research note issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the energy company will post earnings per share of $2.01 for the quarter, up from their previous forecast of $1.84. The consensus estimate for SM Energy’s current full-year earnings is $6.42 per share. Roth Capital also issued estimates for SM Energy’s FY2024 earnings at $7.15 EPS.

A number of other equities analysts have also recently commented on SM. Raymond James reduced their price target on SM Energy from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of SM Energy in a report on Monday, February 5th. KeyCorp raised their target price on shares of SM Energy from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Susquehanna upped their price target on shares of SM Energy from $42.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, StockNews.com upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.57.

SM Energy Stock Performance

Shares of SM stock opened at $50.13 on Monday. The company has a fifty day moving average price of $48.24 and a two-hundred day moving average price of $41.62. SM Energy has a one year low of $25.03 and a one year high of $53.26. The stock has a market cap of $5.80 billion, a P/E ratio of 7.86 and a beta of 4.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45.

SM Energy (NYSE:SM) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.17. SM Energy had a return on equity of 20.48% and a net margin of 31.80%. The firm had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. During the same quarter in the previous year, the firm earned $1.29 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis.

SM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, April 19th were given a $0.18 dividend. The ex-dividend date was Thursday, April 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. SM Energy’s payout ratio is 11.29%.

Institutional Trading of SM Energy

Institutional investors have recently modified their holdings of the stock. Miller Howard Investments Inc. NY bought a new stake in SM Energy during the fourth quarter worth about $3,373,000. Tributary Capital Management LLC increased its position in SM Energy by 27.3% during the 4th quarter. Tributary Capital Management LLC now owns 574,120 shares of the energy company’s stock worth $22,230,000 after purchasing an additional 123,126 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of SM Energy by 90.8% during the third quarter. Assenagon Asset Management S.A. now owns 169,483 shares of the energy company’s stock worth $6,720,000 after buying an additional 80,653 shares during the last quarter. Channing Capital Management LLC acquired a new position in SM Energy in the 3rd quarter worth about $46,492,000. Finally, QRG Capital Management Inc. bought a new position in SM Energy in the 3rd quarter valued at approximately $270,000. 94.56% of the stock is currently owned by institutional investors.

SM Energy Company Profile

SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the state of Texas. It has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.