Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. SM Energy (SM) is a stock many investors are watching right now. SM is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Let's take a look at what these Wall Street heavyweights have to say about SM Energy (SM) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. SM Energy currently has an average brokera ...

SM Energy (SM) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. The power of a ...

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SM Energy (SM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this independent oil and gas company have returned +1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The Zacks Oil and Gas - Exploration and Production - United States industry, to which SM Energy belongs, has lost 4.3% over this period. Now the key question is: Where could the sto ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by th ...

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.41 per share, adjusted EBITDAX of $409 million, and adjusted free cash flow of $68 million, all exceeding street consensus [22] - Production guidance was increased by 2% to a range of 57 to 60 MMBoe, reflecting better performance of new wells and completion cadence [24] - Capital expenditure guidance was lowered by 2% to a range of $1.14 billion to $1.18 billion, with first-quarter capital on track at around $300 million [42] Business Line Data and Key Metrics Changes - The company achieved a 10% improvement in feet drilled per day in Midland Basin and a 20% improvement in South Texas operations compared to 2022 [2] - Feet completed per day improved by 85% in Midland Basin and 30% in South Texas due to better efficiency of simul-frac and zipper fleets [17] - New Briscoe C wells outperformed expectations by 5% to 10%, with an average peak IP30 of just over 2,000 Boe/d per well [19] Market Data and Key Metrics Changes - The company noted that Midland Basin gas accounted for only 7% of first-quarter oil and gas revenue, with approximately 50% of Midland gas hedged to basis, mitigating exposure to weak regional pricing [45] - Transportation expense guidance was lowered by 9% to a midpoint of $2.10 to $2.20 per Boe due to reduced fuel gas costs [37] Company Strategy and Development Direction - The company aims to maintain an attractive return of capital to stockholders through dividends and share repurchases, returning about $54 million or 79% of free cash flow in the first quarter [9] - A new agreement allows the company to increase its South Texas Austin Chalk position by 8,000 net acres, indicating a focus on expanding high-quality asset portfolio [15] - The company is focused on operational execution to deliver low-breakeven, high-return wells, with better-than-expected well performance driving improved bottom-line results [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in production performance and capital cost savings, leading to positive updates in guidance [35] - The company is well positioned for an excellent 2024, with operational performance year-to-date being very strong [10] - Management highlighted the importance of safety and stewardship, receiving a CDP score of A- for supplier engagement [21] Other Important Information - The company completed 27 net wells in the first quarter, exceeding the expectation of 20 net wells [42] - The company has about $182 million in share repurchase authorization remaining for 2024, with a plan for a generally ratable repurchase rate over the next three quarters [23] Q&A Session Summary Question: What is the outlook for production in the upcoming quarters? - The expectation for second-quarter production is a 7% sequential increase to a range of 14.1 to 14.3 MMBoe, with about 44% oil [44] - The third quarter is expected to be flat to slightly up compared to the second quarter, with another step up anticipated in the fourth quarter [44] Question: How does the company plan to manage capital expenditures? - Capital expenditure guidance for the second quarter is set at $315 million to $325 million, including an expected 31 net wells to be drilled and 38 net wells completed [46] - The company is realizing capital efficiencies and cost savings, contributing to the reduction in capital expenditure guidance [36]

Wells Drilled Flowing Completions DUC Count Leasehold Summary 21 NGL price realizations tied to OPIS, fixed fee-based contracts By Quarter MEH – WTI Oil Basis Swaps (1) Includes derivative contracts for settlement at any time during the second quarter of 2024 and later periods, entered into through April 25, 2024. (2) Weighted-average contract price. (3) Volume weighted-average contract price for NYMEX WTI swaps and NYMEX WTI collars. NGLs Propane Swaps Isobutane Swaps Normal Butane Swaps IF WAHA Gas Swaps ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 001-31539 SM ENERGY COMPANY (Exact name of registrant as specified in its charter) Delaware 41-0518430 (State or other ...

News Release EXHIBIT 99.1 President and Chief Executive Officer Herb Vogel comments: "Top-tier assets and excellent operational execution delivered strong financial results and kicked-off another great year. Seventy-nine percent of first quarter Adjusted free cash flow was returned to stockholders while we maintained low leverage of 0.6 times. We are very well positioned to deliver on all of our 2024 objectives to create long term value as we focus on operational execution, successfully work to expand our t ...