Seaport Res Ptn Analysts Reduce Earnings Estimates for SM Energy (NYSE:SM)

SM Energy (NYSE:SM) – Investment analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share (EPS) estimates for SM Energy in a note issued to investors on Tuesday, April 9th. Seaport Res Ptn analyst N. Pope now expects that the energy company will post earnings of $1.21 per share for the quarter, down from their previous estimate of $1.24. Seaport Res Ptn 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.

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

A number of other equities analysts have also weighed in on SM. Susquehanna boosted their price objective on shares of 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. boosted their price target on SM Energy from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of SM Energy in a report on Monday, February 5th. Mizuho boosted their target price on SM Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, KeyCorp dropped their price target on shares of SM Energy from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, January 11th. 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 firm’s 50 day moving average price is $44.33 and its 200-day moving average price is $40.40. SM Energy has a 52-week low of $25.03 and a 52-week high of $53.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $6.07 billion, a PE ratio of 7.63 and a beta of 4.20.

SM Energy Cuts Dividend

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

Institutional Trading of SM Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SM. Park Avenue Securities LLC increased its holdings in SM Energy by 72.6% in the 1st quarter. Park Avenue Securities LLC now owns 10,305 shares of the energy company’s stock worth $514,000 after acquiring an additional 4,334 shares in the last quarter. GAMMA Investing LLC raised its position in shares of SM Energy by 31.8% during the 1st quarter. GAMMA Investing LLC now owns 5,568 shares of the energy company’s stock valued at $278,000 after purchasing an additional 1,343 shares during the period. Quadrature Capital Ltd purchased a new position in shares of SM Energy during the 4th quarter valued at $530,000. Congress Asset Management Co. MA boosted its holdings 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 worth $33,986,000 after buying an additional 785,222 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in SM Energy by 1.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 639,668 shares of the energy company’s stock worth $24,769,000 after buying an additional 9,361 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.