Q1 2024 Earnings Estimate for SM Energy (NYSE:SM) Issued By Seaport Res Ptn

SM Energy (NYSE:SM) – Equities researchers at Seaport Res Ptn dropped their Q1 2024 EPS estimates for SM Energy in a research note issued on Tuesday, April 9th. Seaport Res Ptn analyst N. Pope now forecasts that the energy company will earn $1.21 per share for the quarter, down from their previous estimate of $1.24. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for SM Energy’s current full-year earnings is $5.99 per share. Seaport Res Ptn also issued estimates for SM Energy’s Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $1.75 EPS, Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $6.34 EPS, Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.68 EPS, Q3 2025 earnings at $1.75 EPS, Q4 2025 earnings at $1.82 EPS and FY2025 earnings at $6.99 EPS.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their target price on SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James dropped their target price on shares of SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, January 8th. Susquehanna boosted their target price on shares of SM Energy from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price target on shares of SM Energy in a report on Monday, February 5th. Finally, Mizuho lifted their price objective on SM Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.71.

SM Energy Trading Up 1.3 %

Shares of NYSE:SM opened at $52.41 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.45. SM Energy has a 1 year low of $25.03 and a 1 year high of $53.26. The company has a market cap of $6.07 billion, a P/E ratio of 7.63 and a beta of 4.20. The stock’s fifty day moving average price is $44.33 and its 200-day moving average price is $40.40.

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

Institutional Investors Weigh In On SM Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in SM Energy in the 4th quarter worth $50,075,000. Balyasny Asset Management L.P. raised its stake in SM Energy by 289.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,647,133 shares of the energy company’s stock valued at $46,383,000 after purchasing an additional 1,224,422 shares during the period. Channing Capital Management LLC purchased a new position in SM Energy in the 3rd quarter worth approximately $46,492,000. Invesco Ltd. lifted its holdings in shares of SM Energy by 88.5% in the first quarter. Invesco Ltd. now owns 2,229,142 shares of the energy company’s stock worth $86,825,000 after buying an additional 1,046,602 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in SM Energy by 405.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,183,200 shares of the energy company’s stock valued at $46,086,000 after acquiring an additional 948,900 shares during the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

SM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, April 18th. SM Energy’s payout ratio is 10.48%.

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.