Capital One Financial Weighs in on SM Energy’s Q3 2024 Earnings (NYSE:SM)

SM Energy (NYSE:SM) – Research analysts at Capital One Financial dropped their Q3 2024 earnings per share estimates for SM Energy in a research report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the energy company will post earnings of $1.54 per share for the quarter, down from their previous estimate of $1.86. The consensus estimate for SM Energy’s current full-year earnings is $7.57 per share. Capital One Financial also issued estimates for SM Energy’s Q4 2024 earnings at $2.08 EPS, FY2024 earnings at $6.88 EPS, Q1 2025 earnings at $1.64 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.54 EPS, Q4 2025 earnings at $1.54 EPS, FY2025 earnings at $6.25 EPS and FY2026 earnings at $6.14 EPS.

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

SM has been the topic of a number of other reports. Tudor, Pickering, Holt & Co. upgraded SM Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company reduced their price target on shares of SM Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $54.00 price target on shares of SM Energy in a research note on Tuesday, July 9th. Mizuho cut their price objective on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Tudor Pickering raised SM Energy to a “strong-buy” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.22.

SM Energy Price Performance

SM stock opened at $41.53 on Friday. 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 firm has a market cap of $4.78 billion, a price-to-earnings ratio of 6.51 and a beta of 4.19. The company’s fifty day simple moving average is $43.60 and its 200 day simple moving average is $46.61. SM Energy has a 12-month low of $34.13 and a 12-month high of $53.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SM. Westwood Holdings Group Inc. purchased a new position in shares of SM Energy during the fourth quarter worth approximately $50,075,000. Jupiter Asset Management Ltd. boosted its position in SM Energy by 929.6% during 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 buying an additional 1,046,872 shares during the period. Congress Asset Management Co. MA grew its stake in shares of SM Energy by 848.7% during the fourth 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SM Energy by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,341,875 shares of the energy company’s stock worth $274,161,000 after buying an additional 384,675 shares during the period. Finally, SIR Capital Management L.P. boosted its holdings in SM Energy by 144.7% during the 2nd quarter. SIR Capital Management L.P. now owns 457,854 shares of the energy company’s stock valued at $19,793,000 after acquiring an additional 270,754 shares during the period. 94.56% of the stock is owned by institutional investors.

SM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were given a dividend of $0.18 per share. The ex-dividend date was Friday, July 19th. This represents a $0.72 dividend on an annualized basis and a yield of 1.73%. SM Energy’s dividend payout ratio is presently 11.29%.

SM Energy Company Profile

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.