Core Viewpoint - SM Energy (SM) has experienced a significant decline in stock performance, returning -12.7% over the past month, while the Zacks S&P 500 composite increased by +1.9% [2]. Earnings Estimate Revisions - For the current quarter, SM Energy is expected to post earnings of $1.93 per share, reflecting a year-over-year increase of +23.7%. The Zacks Consensus Estimate has risen by +13.2% in the last 30 days [5]. - The consensus earnings estimate for the current fiscal year stands at $6.78, indicating a year-over-year change of +15.1%, with a +12.1% increase in estimates over the past month [5]. - For the next fiscal year, the consensus earnings estimate is $8.10, representing a +19.4% change from the previous year, with a +12.2% increase in estimates recently [6]. - SM Energy holds a Zacks Rank 1 (Strong Buy) due to significant changes in consensus estimates and other related factors [7]. Revenue Growth - The consensus sales estimate for the current quarter is $868.32 million, indicating a year-over-year increase of +42.6%. For the current and next fiscal years, the revenue estimates are $2.75 billion and $3.47 billion, reflecting changes of +15.7% and +26.2%, respectively [9]. Last Reported Results - In the last reported quarter, SM Energy generated revenues of $643.61 million, a year-over-year increase of +0.4%. The EPS was $1.62, compared to $1.73 a year ago, with a revenue surprise of -1.15% and an EPS surprise of +6.58% [11]. Valuation - SM Energy is graded A in the Zacks Value Style Score, indicating it is trading at a discount compared to its peers [15].

Core Viewpoint - SM Energy is expected to show significant earnings growth in its upcoming release, with a projected EPS of $1.93, reflecting a 23.72% increase year-over-year, and a revenue forecast of $868.32 million, indicating a 42.64% rise compared to the same quarter last year [2]. Company Performance - SM Energy's stock closed at $39.61, down 1.1% from the previous session, underperforming the S&P 500's daily gain of 0.53% [1]. - Over the past month, SM Energy shares have appreciated by 3.33%, which is below the Oils-Energy sector's gain of 5.88% but above the S&P 500's gain of 1.24% [1]. Analyst Forecasts - Recent revisions to analyst forecasts for SM Energy are being closely monitored, as positive changes in estimates indicate optimism regarding the company's business and profitability [3]. - The Zacks Consensus EPS estimate for SM Energy has increased by 12.09% over the past month, reflecting positive sentiment among analysts [5]. Valuation Metrics - SM Energy is currently trading at a Forward P/E ratio of 4.95, which is a discount compared to the industry average Forward P/E of 9.39 [6]. - The Oil and Gas - Exploration and Production - United States industry, to which SM Energy belongs, holds a Zacks Industry Rank of 57, placing it in the top 23% of over 250 industries [6]. Zacks Rank System - SM Energy currently holds a Zacks Rank of 1 (Strong Buy), which has historically generated an average annual return of +25% since 1988 [5].

Core Insights - The article introduces a new contributing analyst to Seeking Alpha, emphasizing the opportunity for individuals to share investment ideas and get published [1] Group 1 - The focus is on long-term and medium-term value investing, targeting companies with strong fundamentals across various sectors [2] - The analyst has passed CFA Level 1 and has prior experience as an equity research intern, indicating a foundation in financial analysis [2] Group 2 - The article clarifies that the analyst has no current stock or derivative positions in any mentioned companies, ensuring objectivity in the analysis [3] - Seeking Alpha's disclosure highlights that past performance does not guarantee future results, and no specific investment recommendations are provided [4]

Core Viewpoint - SM Energy (SM) shows potential as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating an improving earnings outlook [1][2] Estimate Revisions - The trend of increasing estimate revisions reflects growing analyst optimism regarding SM Energy's earnings prospects, which is expected to positively influence its stock price [2] - For the current quarter, SM Energy is projected to earn $1.93 per share, marking a year-over-year increase of +23.72%, with the Zacks Consensus Estimate rising by 13.23% over the last 30 days [4] - For the full year, the expected earnings per share is $6.78, representing a year-over-year change of +15.11%, with a consensus estimate increase of 12.09% despite some negative revisions [5] Zacks Rank - SM Energy currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts on the upward revision of earnings estimates, which historically correlates with stock outperformance [3][6] - Stocks with a Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500, suggesting a favorable investment environment for SM Energy [6] Investment Outlook - The stock has appreciated by 6% over the past four weeks due to strong estimate revisions, and further upside potential remains, making it a candidate for portfolio inclusion [7]

In the latest trading session, SM Energy (SM) closed at $44.12, marking a -1.28% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.89%.Prior to today's trading, shares of the independent oil and gas company had gained 20.3% over the past month. This has outpaced the Oils-Energy sector's loss of 6.25% and the S&P 500's loss of 1.56% in that time.Investors will ...

SM Energy (SM) closed the most recent trading day at $37.68, moving +0.37% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.05%.Heading into today, shares of the independent oil and gas company had lost 16.26% over the past month, lagging the Oils-Energy sector's loss of 8.03% and the S&P 500's gain of 1.05% in that time.The investment community will be paying close ...

Group 1 - SM Energy (NYSE: SM) reported Q3 2024 results with production 3% above the midpoint of its guidance and capital expenditures below guidance [2] - The company is currently integrating its Uinta Basin acquisitions, which may impact Q4 2024 results [2] Group 2 - The article highlights the author's extensive experience in analytical roles, particularly in the energy sector, and mentions a focus on value opportunities and distressed plays [2]

Core Viewpoint - SM Energy Company reported third-quarter 2024 adjusted earnings of $1.62 per share, exceeding the Zacks Consensus Estimate of $1.52, but down from $1.73 in the same quarter last year. Total revenues of $644 million increased slightly from $641 million year-over-year but fell short of the Zacks Consensus Estimate of $651 million [1]. Operational Performance - SM Energy's production for the third quarter reached 170 thousand barrels of oil equivalent per day (MBoe/d), a nearly 11% increase from 153.7 MBoe/d in the previous year, surpassing the Zacks Consensus Estimate of 166 MBoe/d [3]. - Oil production rose 15% year-over-year to 77.4 thousand barrels per day (MBbls/d), exceeding the Zacks Consensus Estimate of 76 MBbls/d [3]. - Natural gas production was 375.4 million cubic feet per day, up 5% year-over-year, while natural gas liquids contributed 30.1 MBbls/d, an 11% increase from the previous year [4]. Realized Prices - The average realized price per Boe before derivative settlements was $41.08, down from $45.24 in the prior year. The average realized oil price decreased by 8% to $74.72 per barrel, while the average realized price of natural gas fell 41% to $1.46 per thousand cubic feet [5]. Costs & Expenses - Unit lease operating expenses decreased by 7% year-over-year to $4.73 per Boe. General and administrative expenses increased by 9% to $2.25 per Boe, and transportation expenses rose by 3% to $2.13 per Boe [6]. - Total hydrocarbon production expenses were $148.4 million, compared to $138.3 million in the previous year, while total exploration expenses increased to $12.1 million from $10.2 million [6]. Capital Expenditure - Capital expenditure for the quarter totaled $302.1 million, with adjusted free cash flow amounting to $129.8 million [7]. Balance Sheet - As of September 30, 2024, SM Energy had cash and cash equivalents of $1.7 billion and a net debt of $1.1 billion [8]. Guidance - For the fourth quarter of 2024, SM Energy expects production to be between 18.9-20.2 MMBoe, with oil expected to contribute 51% of total production. Capital expenditures are estimated to be in the range of $320-$340 million [9]. - For the full year 2024, the company anticipates net production volume between 62.2-63.5 MMBoe, with oil accounting for 47% of total production [10].

分组1 - SM Energy reported quarterly earnings of $1.62 per share, exceeding the Zacks Consensus Estimate of $1.52 per share, but down from $1.73 per share a year ago, representing an earnings surprise of 6.58% [1] - The company posted revenues of $643.61 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.15%, and showing a slight increase from $640.9 million year-over-year [2] - SM Energy has surpassed consensus EPS estimates four times over the last four quarters, but has only topped consensus revenue estimates once in the same period [2] 分组2 - The stock has gained approximately 9.8% since the beginning of the year, while the S&P 500 has increased by 21.9% [3] - The current consensus EPS estimate for the upcoming quarter is $2.25 on revenues of $882.15 million, and for the current fiscal year, it is $7.05 on revenues of $2.74 billion [7] - The Zacks Industry Rank for Oil and Gas - Exploration and Production - United States is currently in the bottom 10% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Financial Data and Key Metrics Changes - The company reported strong production volumes, exceeding the high end of guidance and consensus expectations, with production volumes 3% ahead of the midpoint of guidance [24][25] - Notable beats were achieved in consensus EBITDAX, adjusted EPS, and adjusted free cash flow due to higher than expected production and lower than expected costs [26] Business Line Data and Key Metrics Changes - The Uinta acquisitions resulted in a significant increase in core acreage by over 93,000 net acres, or about 40%, and an expected sequential increase in net oil production of around 40% [5][8] - In the Midland Basin, new Woodford-Barnett tests showed that the company's two test wells outperformed peer tests by more than 50% normalized to 10,000 foot laterals [16] - In South Texas, the Austin Chalk wells demonstrated strong performance, with two wells averaging 2,317 Boe per day, per well, with 22% oil and 63% liquids [20][22] Market Data and Key Metrics Changes - The Uinta Basin's high-quality crude oil, with around 40 degrees API, is expected to attract a premium to WTI due to its low sulfur and low nitrogen content [11] - The company anticipates that Utah oil realizations will reflect a couple of dollars off WTI [36] Company Strategy and Development Direction - The company aims to expand its high-quality, low breakeven cost portfolio, focusing on operational execution to deliver high returning wells and returning capital to stockholders through dividends and share repurchases [4][7] - Following the Uinta acquisitions, the company is emphasizing debt reduction and plans to return the leverage ratio closer to one times before resuming share buybacks [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational execution and financial results, positioning the company for substantially increased inventory and scale going forward [24][41] - The fourth quarter production guidance is set at 205,000 to 220,000 Boe per day, which would be the highest production rate in the company's history [33] Other Important Information - The company completed successful upsized bond offerings totaling $1.5 billion and redeemed $349 million of senior notes due in 2025 [27][28] - The company has a cash balance of $21 million and restricted cash of $36 million following the Uinta acquisitions [28] Q&A Session Summary Question: What are the expectations for production growth in the fourth quarter? - The company expects production volumes to increase sequentially by around 25% on a Boe basis and around 40% on oil, with the highest production rate in company history anticipated [32] Question: How will the Uinta Basin acquisitions impact operational costs? - Operating costs for the fourth quarter are expected to range between $4.90 to $5.10 per Boe, incorporating efficiencies gained in the third quarter [37]