Capital One Financial Weighs in on SM Energy FY2024 Earnings

SM Energy (NYSE:SM) – Stock analysts at Capital One Financial decreased their FY2024 earnings per share estimates for SM Energy in a report released on Tuesday, November 5th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings per share of $6.69 for the year, down from their previous forecast 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.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of SM Energy in a research report on Tuesday, October 8th. KeyCorp reduced their price objective on SM Energy from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. BMO Capital Markets cut their target price on SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company cut their target price on SM Energy from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Stephens lifted their target price on SM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.73.

SM Energy Price Performance

SM Energy stock opened at $43.28 on Wednesday. SM Energy has a 12 month low of $34.13 and a 12 month high of $53.26. The company has a current ratio of 3.52, a quick ratio of 1.29 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $4.95 billion, a PE ratio of 6.04 and a beta of 4.18. The stock has a 50-day moving average price of $42.09 and a two-hundred day moving average price of $45.12.

SM Energy (NYSE:SM) last posted its earnings results on Thursday, October 31st. The energy company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.52 by $0.10. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $643.67 million. SM Energy had a return on equity of 19.62% and a net margin of 33.89%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share.

Institutional Investors Weigh In On SM Energy

Several institutional investors have recently bought and sold shares of the stock. Pathstone Holdings LLC boosted its holdings in SM Energy by 8.8% during the 3rd quarter. Pathstone Holdings LLC now owns 41,828 shares of the energy company’s stock valued at $1,672,000 after acquiring an additional 3,395 shares during the period. Quest Partners LLC bought a new position in SM Energy during the 3rd quarter valued at approximately $625,000. Royce & Associates LP raised its position in SM Energy by 5.4% during the 3rd quarter. Royce & Associates LP now owns 217,879 shares of the energy company’s stock valued at $8,709,000 after purchasing an additional 11,153 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in SM Energy during the 3rd quarter valued at approximately $458,000. Finally, KBC Group NV raised its position in SM Energy by 16.7% during the 3rd quarter. KBC Group NV now owns 3,321 shares of the energy company’s stock valued at $133,000 after purchasing an additional 476 shares during the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

SM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 25th were issued 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 dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, October 25th. SM Energy’s dividend payout ratio is presently 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.