SM Energy (NYSE:SM) Releases Quarterly Earnings Results

SM Energy (NYSE:SM) issued its quarterly earnings data on Wednesday. The energy company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.23, FiscalAI reports. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.02 billion. SM Energy had a net margin of 3.45% and a return on equity of 13.93%.

SM Energy Price Performance

NYSE SM traded down $2.04 during midday trading on Wednesday, hitting $29.01. The company had a trading volume of 4,888,032 shares, compared to its average volume of 5,329,137. The firm has a 50-day moving average price of $29.91 and a 200-day moving average price of $27.55. The company has a market capitalization of $6.95 billion, a PE ratio of 12.19 and a beta of 0.73. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98. SM Energy has a twelve month low of $17.45 and a twelve month high of $35.88.

SM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 3.0%. SM Energy’s payout ratio is currently 36.97%.

Analyst Ratings Changes

Several brokerages recently commented on SM. Wall Street Zen raised shares of SM Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial cut their price objective on shares of SM Energy from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Zacks Research downgraded SM Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Raymond James Financial lowered their target price on SM Energy from $55.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Finally, Susquehanna boosted their price target on SM Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.53.

Insider Activity

In related news, Director Ramiro G. Peru sold 24,553 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the transaction, the director owned 65,964 shares in the company, valued at approximately $2,241,456.72. This trade represents a 27.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On SM Energy

Several hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC raised its position in shares of SM Energy by 62.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,386 shares of the energy company’s stock valued at $26,000 after buying an additional 535 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of SM Energy during the 3rd quarter worth approximately $31,000. UMB Bank n.a. increased its stake in SM Energy by 102.4% in the fourth quarter. UMB Bank n.a. now owns 1,911 shares of the energy company’s stock valued at $36,000 after acquiring an additional 967 shares during the last quarter. State of Wyoming raised its position in SM Energy by 22.2% during the fourth quarter. State of Wyoming now owns 2,748 shares of the energy company’s stock valued at $51,000 after purchasing an additional 499 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in SM Energy during the third quarter valued at approximately $80,000. 94.56% of the stock is owned by institutional investors.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.