Capital One Financial Cuts Earnings Estimates for SM Energy

SM Energy (NYSE:SM - Free Report) - Stock analysts at Capital One Financial cut their FY2024 earnings per share estimates for SM Energy in a research report issued to clients and investors on Tuesday, November 5th. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings per share of $6.69 for the year, down from their previous estimate of $6.82. The consensus estimate for SM Energy's current full-year earnings is $6.84 per share. Capital One Financial also issued estimates for SM Energy's Q4 2024 earnings at $1.81 EPS.

SM Energy (NYSE:SM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.52 by $0.10. The business had revenue of $643.60 million for the quarter, compared to analysts' expectations of $643.67 million. SM Energy had a net margin of 33.89% and a return on equity of 19.62%. The business's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS.

SM has been the subject of a number of other reports. StockNews.com cut shares of SM Energy from a "buy" rating to a "hold" rating in a research note on Friday, September 13th. Tudor, Pickering, Holt & Co. upgraded SM Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. BMO Capital Markets dropped their target price on SM Energy from $50.00 to $48.00 and set a "market perform" rating for the company in a report on Friday, October 4th. Susquehanna decreased their price target on SM Energy from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Tudor Pickering raised shares of SM Energy to a "strong-buy" rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, SM Energy has an average rating of "Moderate Buy" and an average target price of $50.73.

SM Energy Price Performance

Shares of NYSE SM traded up $2.91 during midday trading on Wednesday, reaching $44.01. 2,027,015 shares of the stock traded hands, compared to its average volume of 1,545,344. The company's 50 day moving average is $42.21 and its 200 day moving average is $45.14. SM Energy has a one year low of $34.13 and a one year high of $53.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.52 and a quick ratio of 1.29. The stock has a market capitalization of $5.04 billion, a PE ratio of 6.15 and a beta of 4.18.

Hedge Funds Weigh In On SM Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd boosted its stake in SM Energy by 461.9% in the 2nd quarter. Plato Investment Management Ltd now owns 590 shares of the energy company's stock worth $26,000 after purchasing an additional 485 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of SM Energy in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV raised its stake in SM Energy by 63.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 872 shares of the energy company's stock worth $38,000 after acquiring an additional 340 shares during the last quarter. Mather Group LLC. acquired a new stake in SM Energy during the 2nd quarter worth about $44,000. Finally, Blue Trust Inc. grew its stake in SM Energy by 3,434.5% during the 3rd quarter. Blue Trust Inc. now owns 1,025 shares of the energy company's stock valued at $44,000 after purchasing an additional 996 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors.

SM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.82%. This is a positive change from SM Energy's previous quarterly dividend of $0.18. SM Energy's payout ratio is currently 11.17%.

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.