SM Energy (NYSE:SM) to Post Q1 2024 Earnings of $1.29 Per Share, Capital One Financial Forecasts

SM Energy (NYSE:SM) – Equities researchers at Capital One Financial cut their Q1 2024 earnings per share (EPS) estimates for SM Energy in a report issued on Wednesday, April 17th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings per share of $1.29 for the quarter, down from their previous forecast of $1.34. The consensus estimate for SM Energy’s current full-year earnings is $6.21 per share. Capital One Financial also issued estimates for SM Energy’s Q2 2024 earnings at $1.56 EPS, Q3 2024 earnings at $1.64 EPS, Q4 2024 earnings at $1.71 EPS and FY2024 earnings at $6.19 EPS.

Other research analysts also recently issued research reports about the company. KeyCorp increased their target price on SM Energy from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Wells Fargo & Company raised their price objective on SM Energy from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday. Mizuho raised their price objective on SM Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Raymond James decreased their price objective on SM Energy from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, January 8th. Finally, Susquehanna raised their price objective on SM Energy from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.86.

SM Energy Stock Down 2.6 %

SM stock opened at $48.03 on Friday. SM Energy has a fifty-two week low of $25.03 and a fifty-two week high of $53.26. The business’s 50-day moving average is $45.98 and its two-hundred day moving average is $40.83. 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 $5.56 billion, a price-to-earnings ratio of 6.99 and a beta of 4.20.

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

Institutional Investors Weigh In On SM Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Azzad Asset Management Inc. ADV lifted its stake in shares of SM Energy by 31.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,351 shares of the energy company’s stock worth $666,000 after acquiring an additional 3,171 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in SM Energy by 12.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 842,960 shares of the energy company’s stock worth $42,022,000 after buying an additional 91,507 shares during the last quarter. Congress Wealth Management LLC DE grew its stake in SM Energy by 28.9% during the 1st quarter. Congress Wealth Management LLC DE now owns 104,545 shares of the energy company’s stock worth $5,212,000 after buying an additional 23,438 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in SM Energy by 509.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 567 shares of the energy company’s stock worth $28,000 after buying an additional 474 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in SM Energy during the 1st quarter worth $819,000. 94.56% of the stock is owned by institutional investors.

SM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, April 18th. SM Energy’s dividend payout ratio (DPR) is 10.48%.

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.