SM Energy Company (SM) Expected to Announce Quarterly Sales of $293.74 Million

Wall Street analysts expect SM Energy Company (NYSE:SM) to post $293.74 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for SM Energy Company’s earnings. The lowest sales estimate is $278.93 million and the highest is $308.70 million. SM Energy Company reported sales of $341.81 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.1%. The company is expected to issue its next quarterly earnings report on Tuesday, August 1st.

According to Zacks, analysts expect that SM Energy Company will report full-year sales of $293.74 million for the current financial year, with estimates ranging from $1.26 billion to $1.38 billion. For the next financial year, analysts anticipate that the business will report sales of $1.63 billion per share, with estimates ranging from $1.35 billion to $1.90 billion. Zacks’ sales averages are an average based on a survey of analysts that follow SM Energy Company.

SM Energy Company (NYSE:SM) last posted its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.36) by $0.54. The firm had revenue of $372.74 million for the quarter, compared to the consensus estimate of $309.43 million. SM Energy Company had a negative net margin of 23.23% and a negative return on equity of 3.28%.

Several analysts have recently issued reports on SM shares. Scotiabank reaffirmed a “buy” rating and set a $33.00 price objective on shares of SM Energy Company in a report on Monday, March 27th. Credit Suisse Group started coverage on SM Energy Company in a report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price objective on the stock. Williams Capital reaffirmed a “buy” rating and set a $40.00 price objective on shares of SM Energy Company in a report on Wednesday, May 3rd. Bank of America Corporation cut SM Energy Company from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. Finally, Royal Bank Of Canada set a $36.00 price objective on SM Energy Company and gave the stock a “hold” rating in a report on Tuesday, April 25th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.42.

SM Energy Company (NYSE:SM) traded down 2.56% on Friday, hitting $15.60. 6,475,350 shares of the company’s stock traded hands. SM Energy Company has a 12 month low of $15.29 and a 12 month high of $43.09. The stock has a 50 day moving average price of $19.57 and a 200-day moving average price of $26.41. The stock’s market cap is $1.74 billion.

In other news, CEO Javan D. Ottoson purchased 2,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were acquired at an average price of $16.44 per share, with a total value of $32,880.00. Following the transaction, the chief executive officer now owns 143,302 shares of the company’s stock, valued at $2,355,884.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Herbert S. Vogel purchased 3,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were purchased at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the transaction, the executive vice president now directly owns 32,637 shares in the company, valued at approximately $541,774.20. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Causeway Capital Management LLC increased its position in SM Energy Company by 230.1% in the first quarter. Causeway Capital Management LLC now owns 6,909,664 shares of the energy company’s stock worth $189,801,000 after buying an additional 4,816,230 shares during the last quarter. Reservoir Operations L.P. purchased a new position in SM Energy Company during the first quarter worth about $80,383,000. Vanguard Group Inc. increased its position in SM Energy Company by 16.2% in the first quarter. Vanguard Group Inc. now owns 8,779,746 shares of the energy company’s stock worth $210,889,000 after buying an additional 1,226,564 shares during the last quarter. Systematic Financial Management LP purchased a new position in SM Energy Company during the fourth quarter worth about $39,375,000. Finally, Alliancebernstein L.P. increased its position in SM Energy Company by 33.1% in the first quarter. Alliancebernstein L.P. now owns 3,993,599 shares of the energy company’s stock worth $95,926,000 after buying an additional 994,186 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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About SM Energy Company

SM Energy Company is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of crude oil and condensate, natural gas and natural gas liquids in onshore North America. It operates in the exploration and production segment of the oil and gas industry within the United States.

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