SM Energy (NYSE:SM – Get Rating) – Equities researchers at Seaport Res Ptn upped their Q2 2023 earnings estimates for SM Energy in a report released on Wednesday, June 21st. Seaport Res Ptn analyst N. Pope now expects that the energy company will earn $1.06 per share for the quarter, up from their previous forecast of $1.03. The consensus estimate for SM Energy’s current full-year earnings is $5.44 per share. Seaport Res Ptn also issued estimates for SM Energy’s FY2024 earnings at $4.78 EPS.
A number of other analysts have also weighed in on the stock. TD Cowen lowered shares of SM Energy from an “outperform” rating to a “market perform” rating and set a $35.00 target price for the company. in a report on Wednesday, March 1st. Susquehanna increased their target price on shares of SM Energy from $30.00 to $32.00 in a report on Thursday. Raymond James increased their target price on shares of SM Energy from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Cowen downgraded shares of SM Energy from an “outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a research note on Wednesday, March 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of SM Energy in a research note on Friday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.82.
SM Energy Stock Performance
SM Energy (NYSE:SM – Get Rating) last posted its earnings results on Friday, April 28th. The energy company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The company had revenue of $573.51 million during the quarter, compared to analyst estimates of $559.37 million. SM Energy had a net margin of 41.07% and a return on equity of 28.22%. SM Energy’s revenue for the quarter was down 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share.
Hedge Funds Weigh In On SM Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. increased its position in shares of SM Energy by 289.7% during the first quarter. Balyasny Asset Management L.P. now owns 1,647,133 shares of the energy company’s stock valued at $46,383,000 after acquiring an additional 1,224,422 shares in the last quarter. Invesco Ltd. increased its position in shares of SM Energy by 88.5% during the first quarter. Invesco Ltd. now owns 2,229,142 shares of the energy company’s stock valued at $86,825,000 after acquiring an additional 1,046,602 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of SM Energy by 875.4% during the fourth quarter. GW&K Investment Management LLC now owns 1,122,600 shares of the energy company’s stock valued at $39,100,000 after acquiring an additional 1,007,507 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SM Energy by 405.0% during the first quarter. Renaissance Technologies LLC now owns 1,183,200 shares of the energy company’s stock valued at $46,086,000 after acquiring an additional 948,900 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of SM Energy by 181.8% during the fourth quarter. Millennium Management LLC now owns 1,391,860 shares of the energy company’s stock valued at $48,478,000 after acquiring an additional 897,855 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.
SM Energy Dividend Announcement
The firm also recently announced a semi-annual dividend, which was paid on Friday, May 5th. Shareholders of record on Friday, April 21st were paid a dividend of $0.15 per share. This represents a dividend yield of 1.1%. The ex-dividend date was Thursday, April 20th. SM Energy’s dividend payout ratio is 5.89%.
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 also has working interests in oil and gas producing wells in the Midland Basin and South Texas. The company was formerly known as St.
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