Q3 2024 EPS Estimates for SM Energy Lowered by Analyst (NYSE:SM)

SM Energy (NYSE:SM) – Equities research analysts at Capital One Financial cut their Q3 2024 earnings per share estimates for shares of SM Energy in a report released on Thursday, October 10th. Capital One Financial analyst B. Velie now anticipates that the energy company will earn $1.51 per share for the quarter, down from their prior estimate of $1.54. The consensus estimate for SM Energy’s current full-year earnings is $6.96 per share. Capital One Financial also issued estimates for SM Energy’s Q4 2024 earnings at $2.06 EPS, FY2024 earnings at $6.82 EPS, Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.49 EPS, FY2025 earnings at $6.07 EPS and FY2026 earnings at $5.94 EPS.

A number of other research analysts have also weighed in on SM. JPMorgan Chase & Co. raised their price target on shares of SM Energy from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday. Tudor Pickering upgraded SM Energy to a “strong-buy” rating in a research note on Wednesday, August 21st. StockNews.com downgraded SM Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Truist Financial cut their price objective on SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, BMO Capital Markets decreased their target price on SM Energy from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

SM Energy Stock Performance

Shares of SM Energy stock opened at $45.55 on Friday. SM Energy has a 52 week low of $34.13 and a 52 week high of $53.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $42.75 and a 200-day moving average price of $46.19. The company has a market cap of $5.21 billion, a PE ratio of 6.55 and a beta of 4.18.

SM Energy (NYSE:SM) last posted its earnings results on Wednesday, August 7th. The energy company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $634.56 million for the quarter, compared to analyst estimates of $616.63 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS.

SM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a $0.20 dividend. This is a boost from SM Energy’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, October 25th. SM Energy’s payout ratio is currently 10.36%.

Institutional Investors Weigh In On SM Energy

Institutional investors have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. grew its position in shares of SM Energy by 929.6% in the second quarter. Jupiter Asset Management Ltd. now owns 1,159,488 shares of the energy company’s stock valued at $50,125,000 after purchasing an additional 1,046,872 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in SM Energy by 848.7% during the 4th quarter. Congress Asset Management Co. MA now owns 877,739 shares of the energy company’s stock valued at $33,986,000 after buying an additional 785,222 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in SM Energy by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock valued at $274,161,000 after buying an additional 384,675 shares in the last quarter. SIR Capital Management L.P. increased its position in shares of SM Energy by 144.7% during the second quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock valued at $19,793,000 after buying an additional 270,754 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of SM Energy by 20.0% in the first quarter. Westwood Holdings Group Inc. now owns 1,552,004 shares of the energy company’s stock worth $77,367,000 after buying an additional 258,733 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.

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.