SM Energy (NYSE:SM) Expected to Earn Q2 2024 Earnings of $1.57 Per Share

SM Energy (NYSE:SM) – Capital One Financial boosted their Q2 2024 earnings per share (EPS) estimates for SM Energy in a report issued on Tuesday, July 16th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $1.57 per share for the quarter, up from their prior estimate of $1.54. The consensus estimate for SM Energy’s current full-year earnings is $7.30 per share. Capital One Financial also issued estimates for SM Energy’s Q3 2024 earnings at $2.12 EPS and FY2025 earnings at $9.23 EPS.

SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.13. SM Energy had a net margin of 31.80% and a return on equity of 20.10%. The business had revenue of $559.87 million during the quarter, compared to analysts’ expectations of $568.21 million.

Several other brokerages have also recently commented on SM. Susquehanna raised their target price on shares of SM Energy from $42.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Wells Fargo & Company raised their target price on shares of SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $54.00 price target on shares of SM Energy in a report on Tuesday, July 9th. Stephens reissued an “overweight” rating and set a $63.00 target price on shares of SM Energy in a research note on Thursday, June 27th. Finally, Truist Financial lowered their target price on shares of SM Energy from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, SM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.89.

SM Energy Price Performance

Shares of NYSE SM opened at $46.65 on Friday. The company has a fifty day moving average price of $47.14 and a 200 day moving average price of $45.09. SM Energy has a 1-year low of $33.92 and a 1-year high of $53.26. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market cap of $5.36 billion, a PE ratio of 7.31 and a beta of 4.20.

Institutional Investors Weigh In On SM Energy

Institutional investors have recently added to or reduced their stakes in the stock. Ellsworth Advisors LLC raised its holdings in SM Energy by 7.3% in the 2nd quarter. Ellsworth Advisors LLC now owns 10,422 shares of the energy company’s stock valued at $451,000 after buying an additional 705 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of SM Energy by 4.8% in the second quarter. Wedge Capital Management L L P NC now owns 593,241 shares of the energy company’s stock valued at $25,646,000 after acquiring an additional 27,405 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of SM Energy by 2.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,045 shares of the energy company’s stock valued at $477,000 after acquiring an additional 300 shares during the period. Diversified Trust Co raised its stake in shares of SM Energy by 10.1% during the second quarter. Diversified Trust Co now owns 18,094 shares of the energy company’s stock worth $782,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of SM Energy by 391.2% during the second quarter. Diversify Advisory Services LLC now owns 310,558 shares of the energy company’s stock worth $13,491,000 after purchasing an additional 247,331 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Buying and Selling

In other news, SVP Kenneth J. Knott sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $50.28, for a total value of $804,480.00. Following the sale, the senior vice president now directly owns 114,495 shares in the company, valued at approximately $5,756,808.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

SM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, July 19th. SM Energy’s dividend payout ratio is presently 11.29%.

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.