SM Energy (NYSE:SM) Expected to Announce Earnings of $2.37 Per Share

Equities research analysts expect SM Energy (NYSE:SMGet Rating) to report earnings per share of $2.37 for the current quarter, Zacks reports. Five analysts have made estimates for SM Energy’s earnings. The highest EPS estimate is $2.86 and the lowest is $1.95. SM Energy reported earnings of $0.01 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 23,600%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that SM Energy will report full-year earnings of $9.36 per share for the current fiscal year, with EPS estimates ranging from $7.99 to $10.64. For the next year, analysts anticipate that the firm will post earnings of $10.58 per share, with EPS estimates ranging from $8.05 to $12.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for SM Energy.

SM Energy (NYSE:SMGet Rating) last released its quarterly earnings results on Thursday, April 28th. The energy company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.06). The company had revenue of $859.78 million for the quarter, compared to analyst estimates of $765.23 million. SM Energy had a return on equity of 13.06% and a net margin of 1.38%. The business’s revenue was up 93.7% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share.

A number of brokerages have issued reports on SM. KeyCorp upped their target price on SM Energy from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Barclays boosted their price target on SM Energy from $23.00 to $39.00 in a report on Friday, March 18th. Raymond James boosted their price target on SM Energy from $57.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Wells Fargo & Company boosted their price target on SM Energy from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Finally, JPMorgan Chase & Co. lowered their price target on SM Energy from $49.00 to $47.00 in a report on Friday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, SM Energy presently has an average rating of “Buy” and a consensus price target of $47.56.

In other news, SVP Mary Ellen Lutey sold 9,533 shares of the stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $39.97, for a total transaction of $381,034.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Patrick A. Lytle sold 6,776 shares of the stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $42.01, for a total value of $284,659.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,333 shares of company stock valued at $4,511,905. 1.90% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in SM. JB Investments Management LLC raised its holdings in shares of SM Energy by 1.0% in the 4th quarter. JB Investments Management LLC now owns 5,053,651 shares of the energy company’s stock worth $148,982,000 after buying an additional 49,933 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SM Energy by 32.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 3,470,999 shares of the energy company’s stock valued at $91,565,000 after buying an additional 847,599 shares during the period. Millennium Management LLC increased its stake in shares of SM Energy by 47.4% in the 4th quarter. Millennium Management LLC now owns 3,242,209 shares of the energy company’s stock valued at $95,580,000 after buying an additional 1,042,180 shares during the period. Russell Investments Group Ltd. increased its stake in shares of SM Energy by 16.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,532,927 shares of the energy company’s stock valued at $66,817,000 after buying an additional 356,505 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of SM Energy by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 2,346,440 shares of the energy company’s stock valued at $69,173,000 after buying an additional 202,527 shares during the period. Institutional investors own 89.43% of the company’s stock.

SM Energy stock opened at $35.53 on Wednesday. The stock’s 50 day moving average price is $38.51 and its 200 day moving average price is $34.61. SM Energy has a one year low of $14.79 and a one year high of $43.69. The firm has a market capitalization of $4.33 billion, a PE ratio of 710.74 and a beta of 5.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 0.69.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 22nd will be issued a dividend of $0.01 per share. This represents a dividend yield of 0.1%. The ex-dividend date is Thursday, April 21st. SM Energy’s dividend payout ratio is 40.01%.

About SM Energy (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.

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