Capital One Financial Corp. Analysts Lift Earnings Estimates for SM Energy Co. (SM)
SM Energy Co. (NYSE:SM) – Stock analysts at Capital One Financial Corp. upped their Q3 2016 EPS estimates for shares of SM Energy in a research note issued on Tuesday. Capital One Financial Corp. analyst B. Velie now expects that the firm will earn ($0.51) per share for the quarter, up from their previous forecast of ($0.55). Capital One Financial Corp. also issued estimates for SM Energy’s Q4 2016 earnings at ($0.40) EPS, FY2016 earnings at ($2.18) EPS and FY2017 earnings at ($3.84) EPS.
SM Energy (NYSE:SM) last issued its quarterly earnings results on Tuesday, August 2nd. The energy company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.27. The company earned $341.80 million during the quarter, compared to analysts’ expectations of $328.18 million. SM Energy had a negative net margin of 73.55% and a negative return on equity of 9.92%. The business’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS.
Other equities analysts have also issued reports about the company. Deutsche Bank AG upped their target price on SM Energy from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Tuesday, June 14th. Simmons upgraded SM Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $50.00 in a research report on Monday, August 15th. KLR Group upgraded SM Energy from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $37.00 to $43.00 in a research report on Tuesday, August 9th. KeyCorp upgraded SM Energy from a “sector weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $24.00 price objective on shares of SM Energy in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $33.52.
SM Energy (NYSE:SM) opened at 39.32 on Thursday. The company’s market capitalization is $2.69 billion. The stock’s 50 day moving average is $36.80 and its 200 day moving average is $29.80. SM Energy has a 52 week low of $6.99 and a 52 week high of $41.55.
Several hedge funds have recently bought and sold shares of SM. UBS Asset Management Americas Inc. raised its stake in SM Energy by 208.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,236,903 shares of the energy company’s stock worth $23,180,000 after buying an additional 836,534 shares during the last quarter. HBK Investments L P raised its stake in SM Energy by 560.3% in the first quarter. HBK Investments L P now owns 876,907 shares of the energy company’s stock worth $16,433,000 after buying an additional 744,107 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in SM Energy during the second quarter worth approximately $14,044,000. Prudential Financial Inc. raised its stake in SM Energy by 358.4% in the first quarter. Prudential Financial Inc. now owns 660,030 shares of the energy company’s stock worth $12,369,000 after buying an additional 516,040 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in SM Energy by 23.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,447,114 shares of the energy company’s stock worth $66,072,000 after buying an additional 472,335 shares during the last quarter. 82.89% of the stock is owned by institutional investors and hedge funds.
In other SM Energy news, SVP Kenneth J. Knott sold 661 shares of SM Energy stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $40.00, for a total value of $26,440.00. Following the completion of the sale, the senior vice president now owns 43,417 shares of the company’s stock, valued at approximately $1,736,680. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Friday, October 21st will be paid a dividend of $0.05 per share. This represents a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, October 19th. SM Energy’s payout ratio is -0.80%.
About SM Energy
SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids (NGLs) in onshore North America. The Company operates in the exploration and production segment of the oil and gas industry within the United States.
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