SM Energy (NYSE:SM) to Post Q1 2024 Earnings of $1.29 Per Share, Capital One Financial Forecasts

SM Energy (NYSE:SM) – Capital One Financial reduced their Q1 2024 earnings per share estimates for shares of SM Energy in a note issued to investors on Wednesday, April 17th. Capital One Financial analyst B. Velie now anticipates that the energy company will earn $1.29 per share for the quarter, down from their prior estimate of $1.34. The consensus estimate for SM Energy’s current full-year earnings is $6.21 per share. Capital One Financial also issued estimates for SM Energy’s Q2 2024 earnings at $1.56 EPS, Q3 2024 earnings at $1.64 EPS, Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $6.19 EPS.

Other analysts also recently issued reports about the company. Susquehanna upped their price objective on SM Energy from $38.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. JPMorgan Chase & Co. raised their target price on SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. KeyCorp increased their price target on shares of SM Energy from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Raymond James reduced their price target on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price target on shares of SM Energy in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, SM Energy presently has a consensus rating of “Moderate Buy” and an average price target of $50.86.

SM Energy Trading Down 2.6 %

Shares of SM Energy stock opened at $48.03 on Friday. The firm has a market cap of $5.56 billion, a PE ratio of 6.99 and a beta of 4.20. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $45.98 and its two-hundred day moving average is $40.83. SM Energy has a fifty-two week low of $25.03 and a fifty-two week high of $53.26.

SM Energy (NYSE:SM) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. The company had revenue of $608.73 million for the quarter, compared to analyst estimates of $611.35 million. During the same quarter in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year.

Institutional Investors Weigh In On SM Energy

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of SM Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 15,111,503 shares of the energy company’s stock valued at $568,344,000 after buying an additional 224,029 shares during the last quarter. State Street Corp raised its holdings in shares of SM Energy by 13.7% during the first quarter. State Street Corp now owns 7,002,705 shares of the energy company’s stock valued at $272,755,000 after buying an additional 842,589 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SM Energy by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,509,379 shares of the energy company’s stock valued at $213,326,000 after buying an additional 493,427 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SM Energy by 35.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,249,967 shares of the energy company’s stock valued at $126,586,000 after buying an additional 849,019 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of SM Energy by 3.6% during the first quarter. Geode Capital Management LLC now owns 2,277,349 shares of the energy company’s stock valued at $64,130,000 after acquiring an additional 79,806 shares during the period. Institutional investors own 94.56% of the company’s stock.

SM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a $0.18 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. SM Energy’s dividend payout ratio is currently 10.48%.

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.