SM Energy Q1 2023 EPS Estimates Raised: Analysts Are Optimistic

SM Energy Stock

Seaport Res Ptn, a firm that conducts equity research, has raised its Q1 2023 profit projections for SM Energy stock (SM:NYE). The research note distributed to investors on February 22 now forecasts that the energy firm will earn $1.30 per share for the quarter, an increase from its previous estimate of $1.29 per share. Seaport Res Ptn also projected SM Energy’s Q2 2023 earnings to be $1.26 per share, Q3 2023 earnings to be $1.36 per share, and FY2023 earnings to be $5.32 per share.

 

SM Energy Stock-Analyst Ratings:

Although some equity analysts have lowered their price targets for SM Energy stock, other research reports have assigned the stock a positive rating. Raymond James cut their target price for the company to $45.00 while maintaining a “outperform” rating. Royal Bank of Canada boosted its price target to $55.00 and gave the company a “sector perform” rating. Roth Capital reaffirmed its “buy” rating.

 

SM Energy Stock Analysis:

Monday’s opening price for SM Energy stock was $29.85, with a market size of $3.67 billion, a P/E ratio of 3.34, and a beta of 4.43.

The 50-day moving average price is $32.56, while the 200-day moving average price is $39.05 The 52-week low for the firm is $27.92, while the 52-week high is $54.97.

 

Q4 2022 Earnings Review:

SM Energy’s Q4 2022 earnings release revealed that the energy firm earned $1.29 per share, exceeding the consensus expectation of $1.21 per share. The company’s quarterly revenue was $671.32 million, exceeding analysts’ projections of $614.72 million.

SM Energy’s quarterly revenue decreased by 21.5% year-over-year, while the business earned $1.14 per share during the same period last year.

 

Hedge Funds & Institutional Investors:

Global Retirement Partners LLC, Signaturefd LLC, and CWM LLC have increased their positions in SM Energy in recent months. SM Energy stock is owned by hedge funds and other institutional investors to the tune of 89.45%.

 

Dividend Announcement:

Lastly, SM Energy reported a semi-annual dividend paid on February 6th. A dividend of $0.15 per share was paid on Friday, January 20 to shareholders of record as of Friday, January 20. The ex-dividend date was January 19th, Thursday. Currently, SM Energy’s payout ratio is 3.35%.

 

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.

It also has working interests in 825 gross productive oil wells and 483 gross productive gas wells in the Midland Basin and South Texas. The company was formerly known as St. Mary Land & Exploration Company and changed its name to SM Energy Company in May 2010. SM Energy Company was founded in 1908 and is headquartered in Denver, Colorado.

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