SM Stock Recent News

In the most recent trading session, SM Energy (SM) closed at $46.40, indicating a -0.54% shift from the previous trading day.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Zacks.com users have recently been watching SM Energy (SM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

DENVER , July 18, 2024 /PRNewswire/ -- SM Energy Company ("SM Energy") (NYSE: SM) announced today that it has priced an upsized offering of $750,000,000.00 aggregate principal amount of its  6.750% senior notes due 2029 (the "2029 Notes"), and $750,000,000.00 aggregate principal amount of its 7.000% senior notes due 2032 (the "2032 Notes," and together with the 2029 Notes, the "Notes"). The Notes will be issued at par.

DENVER , July 18, 2024 /PRNewswire/ -- SM Energy Company ("SM Energy" or "the Company") (NYSE: SM) announced today that, subject to market conditions, it intends to offer $650,000,000.00 aggregate principal amount of its senior notes due 2029 (the "2029 Notes"), and $650,000,000.00 aggregate principal amount of its senior notes due 2032 (the "2032 Notes," and together with the 2029 Notes, the "Notes"). SM Energy intends to use the net proceeds from the offering of the Notes, together with cash on hand and borrowings under its Credit Agreement, to fund the purchase price for SM Energy's recently announced pending acquisition of certain oil and gas properties, interests, and related assets located in the Uinta Basin from certain entities affiliated with XCL Resources, LLC (the "XCL Acquisition"), to redeem all of its outstanding 5.625% Notes due 2025 (the "2025 Notes"), and to pay related fees and expenses.

In the most recent trading session, SM Energy (SM) closed at $46.78, indicating a +1.37% shift from the previous trading day.

SM Energy Company's acquisition of 20,000 net acres in Dawson County and northern Martin Counties is set to enhance its drilling and completion activities. SM Energy Company operates in oil and gas exploration and production, currently undervalued with a target price of $60.13. Worries over the viability of the industry over the long run have dampened valuations, but SM has remained resilient with management successfully expanding exploration.

Following OPEC's robust oil demand view, we believe the space is a good one for investors to take a position in. We suggest buying stocks like SM, SUN and TUWOY.

SM Energy's (SM) promising results in the Austin Chalk from additional well drilling help diversify its portfolio, and reduce regional supply and demand risks.

SM Energy (SM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.