SM Energy Co (NYSE:SM) – Equities research analysts at SunTrust Banks cut their Q4 2019 earnings estimates for shares of SM Energy in a research report issued to clients and investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the energy company will post earnings per share of $0.00 for the quarter, down from their prior forecast of $0.01. SunTrust Banks has a “Hold” rating and a $10.00 price objective on the stock. SunTrust Banks also issued estimates for SM Energy’s Q1 2021 earnings at $0.08 EPS, Q2 2021 earnings at $0.03 EPS and Q3 2021 earnings at $0.07 EPS.
A number of other analysts have also weighed in on the stock. Wells Fargo & Co lowered their price target on shares of SM Energy from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Barclays lowered their price target on shares of SM Energy from $13.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 30th. Raymond James lowered their price target on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. KeyCorp lowered their price target on shares of SM Energy from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Finally, ValuEngine raised shares of SM Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.50.
SM Energy (NYSE:SM) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.13. The company had revenue of $407.17 million during the quarter, compared to analyst estimates of $407.53 million. SM Energy had a net margin of 2.91% and a negative return on equity of 2.07%. During the same quarter last year, the business posted $0.15 earnings per share.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.05 per share. This represents a yield of 1%. The ex-dividend date of this dividend is Thursday, October 24th. SM Energy’s dividend payout ratio is presently 333.33%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SM. BlackRock Inc. boosted its position in shares of SM Energy by 31.0% during the second quarter. BlackRock Inc. now owns 12,334,776 shares of the energy company’s stock worth $154,433,000 after purchasing an additional 2,921,362 shares in the last quarter. Atria Investments LLC bought a new position in shares of SM Energy during the second quarter worth $41,961,000. Vanguard Group Inc. boosted its position in shares of SM Energy by 5.6% during the second quarter. Vanguard Group Inc. now owns 10,926,493 shares of the energy company’s stock worth $136,799,000 after purchasing an additional 582,176 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of SM Energy by 15.3% during the second quarter. Macquarie Group Ltd. now owns 3,985,054 shares of the energy company’s stock worth $49,893,000 after purchasing an additional 529,277 shares in the last quarter. Finally, Oslo Asset Management AS boosted its position in shares of SM Energy by 18.8% during the second quarter. Oslo Asset Management AS now owns 2,956,528 shares of the energy company’s stock worth $37,016,000 after purchasing an additional 467,185 shares in the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.
About SM Energy
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. As of December 31, 2018, the company had 503.4 million barrels of oil equivalent of estimated proved reserves; and working interests in 715 gross productive oil wells and 504 gross productive gas wells primarily in the Permian, South Texas, and Gulf Coast regions in the United States.
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