SM Energy Forecasted to Earn Q3 2024 Earnings of $2.01 Per Share (NYSE:SM)

SM Energy (NYSE:SM) – Equities research analysts at Roth Capital raised their Q3 2024 earnings per share estimates for SM Energy in a report released on Thursday, May 2nd. Roth Capital analyst L. Mariani now anticipates that the energy company will earn $2.01 per share for the quarter, up from their prior estimate 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.

SM has been the topic of a number of other reports. StockNews.com raised SM Energy from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Susquehanna raised their target price 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. Mizuho boosted their target price on shares of SM Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of SM Energy in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.57.

SM Energy Price Performance

NYSE SM opened at $50.69 on Monday. The firm has a market cap of $5.87 billion, a P/E ratio of 7.86 and a beta of 4.21. The stock’s 50-day moving average is $48.24 and its two-hundred day moving average is $41.61. SM Energy has a fifty-two week low of $25.03 and a fifty-two week high of $53.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.45.

SM Energy (NYSE:SM) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.39 by $0.17. The company had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. SM Energy’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS.

Institutional Trading of SM Energy

Hedge funds have recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in SM Energy in the first quarter worth about $25,000. Hexagon Capital Partners LLC raised its holdings in shares of SM Energy by 509.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after buying an additional 474 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of SM Energy by 54.9% during the 1st quarter. Lindbrook Capital LLC now owns 581 shares of the energy company’s stock worth $29,000 after buying an additional 206 shares during the period. BluePath Capital Management LLC acquired a new stake in SM Energy in the 3rd quarter valued at $32,000. Finally, Global Retirement Partners LLC grew its position in SM Energy by 665.6% in the first quarter. Global Retirement Partners LLC now owns 689 shares of the energy company’s stock valued at $34,000 after acquiring an additional 599 shares during the period. Institutional investors own 94.56% of the company’s stock.

SM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Friday, April 19th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, April 18th. SM Energy’s payout ratio is presently 11.29%.

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.