SM Energy Co (SM) Expected to Post Quarterly Sales of $288.96 Million
Wall Street brokerages forecast that SM Energy Co (NYSE:SM) will announce sales of $288.96 million for the current quarter, according to Zacks. Nine analysts have provided estimates for SM Energy’s earnings. The lowest sales estimate is $264.9 million and the highest is $312 million. SM Energy reported sales of $341.81 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that SM Energy will report full year sales of $288.96 million for the current financial year, with estimates ranging from $1.14 billion to $1.38 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.6 billion per share, with estimates ranging from $1.3 billion to $2.04 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for SM Energy.
SM Energy (NYSE:SM) last announced its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.36) by $0.54. The business had revenue of $372.74 million for the quarter, compared to analyst estimates of $309.43 million. SM Energy had a negative net margin of 78.60% and a negative return on equity of 10.79%.
Several research firms have issued reports on SM. Bank of America Corp cut shares of SM Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $37.00 in a research note on Thursday, May 11th. Scotiabank restated a “buy” rating and set a $33.00 target price on shares of SM Energy in a research note on Monday, March 27th. Piper Jaffray Companies lowered their target price on shares of SM Energy from $48.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. Williams Capital restated a “buy” rating and set a $40.00 target price on shares of SM Energy in a research note on Wednesday, May 3rd. Finally, Barclays PLC restated an “overweight” rating and set a $30.00 target price (down previously from $38.00) on shares of SM Energy in a research note on Saturday, April 22nd. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.94.
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Shares of SM Energy (NYSE:SM) traded up 1.953% during mid-day trading on Friday, reaching $21.145. 3,053,320 shares of the company’s stock traded hands. The stock’s market cap is $2.35 billion. The firm’s 50 day moving average price is $22.44 and its 200-day moving average price is $28.75. SM Energy has a 12-month low of $19.32 and a 12-month high of $43.09.
The company also recently announced a semiannual dividend, which was paid on Wednesday, May 3rd. Investors of record on Friday, April 21st were issued a $0.05 dividend. This represents a yield of 0.43%. The ex-dividend date was Wednesday, April 19th. SM Energy’s dividend payout ratio is -0.76%.
In other news, EVP Herbert S. Vogel bought 2,000 shares of SM Energy stock in a transaction that occurred on Wednesday, March 8th. The stock was bought at an average cost of $23.10 per share, with a total value of $46,200.00. Following the acquisition, the executive vice president now owns 31,037 shares of the company’s stock, valued at approximately $716,954.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Javan D. Ottoson bought 5,000 shares of SM Energy stock in a transaction that occurred on Monday, February 27th. The stock was purchased at an average cost of $25.22 per share, with a total value of $126,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 138,102 shares in the company, valued at approximately $3,482,932.44. The disclosure for this purchase can be found here. Insiders purchased a total of 20,000 shares of company stock valued at $500,100 over the last three months. 1.70% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Reservoir Operations L.P. purchased a new stake in SM Energy during the first quarter valued at about $80,383,000. Vanguard Group Inc. raised its stake in SM Energy by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock valued at $210,889,000 after buying an additional 1,226,564 shares in the last quarter. Systematic Financial Management LP purchased a new stake in SM Energy during the fourth quarter valued at about $39,375,000. Alliancebernstein L.P. raised its stake in SM Energy by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock valued at $95,926,000 after buying an additional 994,186 shares in the last quarter. Finally, Norges Bank purchased a new stake in SM Energy during the fourth quarter valued at about $33,761,000. 88.28% of the stock is owned by institutional investors.
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 in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.
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