SM Energy Upgraded to Buy - Analyst Blog
21 Marzo 2013 - 7:20PM
Zacks
On Mar 19, Zacks Investment Research upgraded independent oil
and gas company SM Energy Company (SM) to a Zacks
Rank #2 (Buy).
Why the Upgrade?
Operating environment and future growth prospects seem bright for
SM Energy, as earnings estimates for this Denver, Colorado-based
company are on the rise. Over the last 30 days, the Zacks Consensus
Estimate for first quarter of 2013 has increased 35.48% to 42 cents
per share, while that for 2013 went up 15.82% to $1.83 per
share.
The momentum has been strong since SM Energy released its fourth
quarter and full-year 2012 earnings results on Feb 20. Adjusted
earnings per share came in at 45 cents per share, comfortably
beating the Zacks Consensus Estimate of 23 cents on record
production.
Total revenue was $444.3 million in the quarter, showing an
improvement of 17.1% from $379.5 million in the prior-year quarter.
The revenue figure also surpassed the Zacks Consensus Estimate of
$414.0 million.
Apart from delivering positive earnings surprises in two of the
last four quarters with an average beat of 32.70%, the company also
has an impressive long-term expected earnings growth rate of
18.0%.
We expect SM Energy’s attractive oil and gas investments, balanced
and diverse portfolio of proved reserves and development drilling
opportunities to create long-term value for shareholders.
Additionally, SM Energy has meaningful leasehold positions of the
leading US shale plays, including the Bakken, Niobrara,
Haynesville, and Granite Wash. We believe these will provide the
company with many years of profitable drilling inventory.
Other Stocks to Consider
Other stocks worth considering in the energy sector include
EPL Oil & Gas Inc. (EPL), Range
Resources Corp. (RRC) and Stone Energy
Corporation (SGY). All these firms – sporting a Zacks Rank
#1 (Strong Buy) – offer value and are worth accumulating at current
levels.
EPL OIL&GAS INC (EPL): Free Stock Analysis Report
RANGE RESOURCES (RRC): Free Stock Analysis Report
STONE ENERGY CP (SGY): Free Stock Analysis Report
SM ENERGY CO (SM): Free Stock Analysis Report
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