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

SM Energy (NYSE:SM) – Analysts at Roth Capital raised their Q3 2024 earnings estimates for SM Energy in a research report issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now anticipates that the energy company will post earnings per share of $2.01 for the quarter, up from their previous 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 Energy (NYSE:SM) last issued its earnings results on Wednesday, February 21st. The energy company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.17. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The company had revenue of $608.73 million for the quarter, compared to the consensus estimate of $611.35 million. During the same period in the previous year, the firm earned $1.29 earnings per share. SM Energy’s quarterly revenue was down 9.3% compared to the same quarter last year.

Several other equities research analysts have also recently issued reports on SM. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of SM Energy in a research note on Monday, February 5th. Mizuho boosted their price objective on shares of SM Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their target price on shares of SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. StockNews.com upgraded shares of SM Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Susquehanna boosted 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SM Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

SM Energy Stock Up 0.9 %

Shares of NYSE SM opened at $51.16 on Monday. SM Energy has a 1 year low of $25.03 and a 1 year high of $53.26. The company has a market capitalization of $5.92 billion, a P/E ratio of 8.02 and a beta of 4.21. The company has a 50 day simple moving average of $48.59 and a 200-day simple moving average of $41.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.45.

Institutional Investors Weigh In On SM Energy

Several large investors have recently bought and sold shares of SM. Westwood Holdings Group Inc. acquired a new position in shares of SM Energy during the 4th quarter worth about $50,075,000. Channing Capital Management LLC purchased a new position in shares of SM Energy during the 3rd quarter worth approximately $46,492,000. Invesco Ltd. increased its stake in SM Energy by 72.8% in the 3rd quarter. Invesco Ltd. now owns 2,054,503 shares of the energy company’s stock valued at $81,461,000 after purchasing an additional 865,480 shares in the last quarter. Congress Asset Management Co. MA increased its stake in SM Energy by 848.7% in the 4th quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock valued at $33,986,000 after purchasing an additional 785,222 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in SM Energy by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,509,379 shares of the energy company’s stock valued at $213,326,000 after purchasing an additional 493,427 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

SM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, April 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. SM Energy’s dividend payout ratio (DPR) is 11.29%.

About SM Energy

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.