SM Energy (NYSE:SM – Get Rating) – Equities research analysts at Capital One Financial cut their Q4 2022 EPS estimates for shares of SM Energy in a report released on Wednesday, November 16th. Capital One Financial analyst B. Velie now forecasts that the energy company will post earnings of $1.50 per share for the quarter, down from their previous estimate of $1.57. The consensus estimate for SM Energy’s current full-year earnings is $7.56 per share. Capital One Financial also issued estimates for SM Energy’s FY2024 earnings at $6.91 EPS.
SM has been the subject of several other research reports. KeyCorp started coverage on shares of SM Energy in a report on Monday, September 19th. They issued an “overweight” rating and a $64.00 target price for the company. Barclays dropped their target price on shares of SM Energy from $51.00 to $46.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. StockNews.com downgraded shares of SM Energy from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Finally, Royal Bank of Canada boosted their price target on shares of SM Energy from $53.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.44.
SM Energy Stock Down 1.3 %
SM Energy stock opened at $45.16 on Friday. SM Energy has a fifty-two week low of $25.23 and a fifty-two week high of $54.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $43.43 and a 200 day moving average price of $41.30. The company has a market capitalization of $5.55 billion, a PE ratio of 4.39 and a beta of 4.56.
Institutional Investors Weigh In On SM Energy
Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its position in SM Energy by 677.3% in the third quarter. Global Retirement Partners LLC now owns 583 shares of the energy company’s stock valued at $26,000 after acquiring an additional 508 shares during the last quarter. CWM LLC raised its holdings in shares of SM Energy by 99.3% in the third quarter. CWM LLC now owns 867 shares of the energy company’s stock valued at $33,000 after buying an additional 432 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of SM Energy in the second quarter valued at about $34,000. Larson Financial Group LLC purchased a new stake in shares of SM Energy in the third quarter valued at about $38,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of SM Energy by 1,338.7% in the third quarter. Quadrant Capital Group LLC now owns 2,230 shares of the energy company’s stock valued at $84,000 after buying an additional 2,075 shares during the last quarter. 90.53% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CAO Patrick A. Lytle sold 8,658 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $45.61, for a total transaction of $394,891.38. Following the completion of the transaction, the chief accounting officer now owns 12,463 shares in the company, valued at $568,437.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Patrick A. Lytle sold 8,658 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $45.61, for a total value of $394,891.38. Following the completion of the sale, the chief accounting officer now directly owns 12,463 shares of the company’s stock, valued at $568,437.43. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David W. Copeland sold 10,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $46.23, for a total transaction of $462,300.00. Following the completion of the sale, the executive vice president now directly owns 228,543 shares of the company’s stock, valued at $10,565,542.89. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
SM Energy Increases Dividend
The company also recently announced a Semi-Annual dividend, which was paid on Monday, November 7th. Investors of record on Tuesday, October 25th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, October 24th. This represents a dividend yield of 0.7%. This is an increase from SM Energy’s previous Semi-Annual dividend of $0.01. SM Energy’s payout ratio is presently 5.83%.
SM Energy Company Profile
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas. As of February 24, 2022, it had 492.0 million barrels of oil equivalent of estimated proved reserves. It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas.
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