In the latest market close, SM Energy (SM) reached $41.53, with a +0.1% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.19%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.36%.

The independent oil and gas company's stock has dropped by 6.34% in the past month, falling short of the Oils-Energy sector's loss of 1.95% and the S&P 500's gain of 2.06%.

Market participants will be closely following the financial results of SM Energy in its upcoming release. It is anticipated that the company will report an EPS of $1.62, marking a 6.36% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $673.01 million, indicating a 5.01% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $7.08 per share and a revenue of $2.78 billion, demonstrating changes of +20.2% and +17.06%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SM Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.45% decrease. Right now, SM Energy possesses a Zacks Rank of #3 (Hold).

Looking at valuation, SM Energy is presently trading at a Forward P/E ratio of 5.86. This denotes a discount relative to the industry's average Forward P/E of 10.28.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

SM Energy Company (SM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research