SM Energy Co (NYSE:SM) – Research analysts at SunTrust Banks lowered their Q3 2019 earnings per share 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 expects that the energy company will post earnings per share of ($0.08) for the quarter, down from their prior estimate of ($0.05). SunTrust Banks has a “Hold” rating and a $10.00 price objective on the stock. SunTrust Banks also issued estimates for SM Energy’s FY2019 earnings at ($0.40) EPS, Q1 2020 earnings at $0.06 EPS, Q2 2020 earnings at $0.03 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.12 EPS, FY2020 earnings at $0.30 EPS and FY2021 earnings at $0.32 EPS.
A number of other analysts have also issued reports on the company. Seaport Global Securities lowered SM Energy from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group assumed coverage on SM Energy in a report on Monday, July 29th. They set a “hold” rating and a $10.00 price objective on the stock. Bank of America reaffirmed an “underperform” rating and set a $14.00 target price (down from $17.00) on shares of SM Energy in a research report on Friday, August 2nd. Raymond James lowered their target price on SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Finally, KeyCorp dropped their price target on SM Energy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. SM Energy has an average rating of “Hold” and an average price target of $18.50.
SM Energy (NYSE:SM) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.13. The company had revenue of $407.17 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.15 EPS.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of SM Energy by 31.0% in the second quarter. BlackRock Inc. now owns 12,334,776 shares of the energy company’s stock valued at $154,433,000 after acquiring an additional 2,921,362 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SM Energy by 5.6% in the second quarter. Vanguard Group Inc. now owns 10,926,493 shares of the energy company’s stock valued at $136,799,000 after acquiring an additional 582,176 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of SM Energy by 15.3% in the second quarter. Macquarie Group Ltd. now owns 3,985,054 shares of the energy company’s stock valued at $49,893,000 after acquiring an additional 529,277 shares in the last quarter. Oslo Asset Management AS raised its holdings in SM Energy by 18.8% in 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. Finally, D. E. Shaw & Co. Inc. raised its holdings in SM Energy by 31.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,453,732 shares of the energy company’s stock worth $18,201,000 after purchasing an additional 351,396 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Investors of record on Friday, October 25th will be issued a $0.05 dividend. The ex-dividend date is Thursday, October 24th. This represents a dividend yield of 1%. SM Energy’s payout ratio is currently 333.33%.
SM Energy Company Profile
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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