SM Energy (NYSE:SM) announced a semi-annual dividend on Friday, September 24th, Wall Street Journal reports. Shareholders of record on Monday, October 25th will be paid a dividend of 0.01 per share by the energy company on Friday, November 5th. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, October 22nd.
SM Energy has decreased its dividend by 80.0% over the last three years and has raised its dividend every year for the last 1 years. SM Energy has a dividend payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SM Energy to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 0.8%.
Shares of NYSE:SM opened at $24.13 on Friday. SM Energy has a fifty-two week low of $1.34 and a fifty-two week high of $26.86. The business has a 50-day moving average of $19.16 and a two-hundred day moving average of $19.35. The stock has a market capitalization of $2.93 billion, a P/E ratio of -3.79 and a beta of 6.17. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.26 and a quick ratio of 0.26.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised SM Energy from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Wednesday, September 15th. Barclays boosted their price objective on SM Energy from $5.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, June 3rd. Royal Bank of Canada cut SM Energy from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $18.00 to $27.00 in a research report on Thursday, June 10th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on SM Energy from $19.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Finally, Zacks Investment Research lowered SM Energy from a “strong-buy” rating to a “hold” rating and set a $21.00 price target on the stock. in a research note on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, SM Energy has a consensus rating of “Hold” and a consensus target price of $22.22.
About SM Energy
SM Energy Co is an independent energy company, which is engages in the acquisition, exploration, development, and production of crude oil, natural gas and natural gas liquids. Its operations are located in Midland Basin and South Texas. The company was founded in 1908 and is headquartered in Denver, CO.
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