SM Energy (NYSE:SM) Announces Earnings Results, Beats Expectations By $0.10 EPS

SM Energy (NYSE:SM) announced its earnings results on Thursday. The energy company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10, Briefing.com reports. The firm had revenue of $643.60 million for the quarter, compared to analyst estimates of $643.67 million. SM Energy had a net margin of 33.18% and a return on equity of 21.01%. SM Energy’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share.

SM Energy Stock Performance

SM traded down $1.69 on Friday, hitting $40.28. 3,384,701 shares of the stock traded hands, compared to its average volume of 1,741,451. SM Energy has a 52 week low of $34.13 and a 52 week high of $53.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.61 billion, a PE ratio of 5.63 and a beta of 4.18. The business has a fifty day moving average price of $42.43 and a two-hundred day moving average price of $45.30.

SM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Friday, October 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.99%. This is a positive change from SM Energy’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, October 25th. SM Energy’s payout ratio is currently 11.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SM shares. Wells Fargo & Company cut their price target on shares of SM Energy from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. BMO Capital Markets cut their target price on shares of SM Energy from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Truist Financial cut their target price on shares of SM Energy from $46.00 to $38.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. TD Cowen raised shares of SM Energy from a “hold” rating to a “buy” rating and cut their target price for the company from $64.00 to $60.00 in a research note on Tuesday, October 15th. Finally, Mizuho cut their target price on shares of SM Energy from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.18.

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.