Brokers Set Expectations for SM Energy’s Q1 2024 Earnings (NYSE:SM)

SM Energy (NYSE:SM) – Research analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for SM Energy in a report issued on Wednesday, April 17th. Capital One Financial analyst B. Velie now expects that the energy company will earn $1.29 per share for the quarter, down from their prior 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.

Several other research firms have also recently commented on SM. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of SM Energy in a research note on Monday, February 5th. JPMorgan Chase & Co. lifted their price objective on SM Energy from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Mizuho raised their price target on SM Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their price target on SM Energy from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, KeyCorp increased their price objective on SM Energy from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.86.

SM Energy Stock Performance

NYSE SM opened at $48.09 on Friday. The firm has a market cap of $5.57 billion, a P/E ratio of 7.00 and a beta of 4.20. SM Energy has a 52-week low of $25.03 and a 52-week high of $53.26. The business’s 50-day moving average price is $46.20 and its 200 day moving average price is $40.90. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.44.

SM Energy (NYSE:SM) last issued its quarterly earnings data 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. The company had revenue of $608.73 million during the quarter, compared to analysts’ expectations of $611.35 million. SM Energy had a return on equity of 20.74% and a net margin of 34.45%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share.

SM Energy Cuts Dividend

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

Institutional Investors Weigh In On SM Energy

Several hedge funds have recently modified their holdings of SM. Register Financial Advisors LLC acquired a new position in SM Energy in the first quarter valued at $25,000. First Horizon Advisors Inc. purchased a new stake in shares of SM Energy during the 1st quarter worth about $25,000. Hexagon Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 474 shares during the period. Penserra Capital Management LLC purchased a new position in SM Energy in the third quarter valued at approximately $28,000. Finally, IFP Advisors Inc raised its holdings in SM Energy by 561.7% in the second quarter. IFP Advisors Inc now owns 880 shares of the energy company’s stock valued at $28,000 after buying an additional 747 shares during the period. 94.56% of the stock is owned by institutional investors and hedge funds.

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.