Welcome to our dedicated page for SM Energy Company news (Ticker: SM), a resource for investors and traders seeking the latest updates and insights on SM Energy Company stock.
SM Energy Company, trading under the symbol SM on the New York Stock Exchange, is an independent energy company that engages in the acquisition, exploration, development, and production of natural gas and crude oil across the United States. Founded in 1908 and incorporated in 1915, SM Energy went public in 1992. The company's operations are primarily focused on four core regions: the Mid-Continent, Rocky Mountains, Permian Basin, and Gulf Coast, managed from regional offices located in Tulsa, Oklahoma; Billings, Montana; Midland, Texas; and Houston, Texas, respectively. Each office is staffed with highly experienced geologists, geophysicists, engineers, and landmen who bring extensive regional expertise.
Headquartered in Denver, Colorado, SM Energy provides centralized financial and administrative support to its regional operations. The company places a strong emphasis on responsible operations, prioritizing safety and environmental stewardship. Recently, SM Energy has enhanced its environmental, social, and governance (ESG) efforts, publishing updated materials that underscore its commitment to sustainability.
SM Energy's core business involves active participation in joint ventures, prospects/leaseholds, and drill-to-earn opportunities. The majority of its revenue is derived from some of the United States' premier drilling locations. The company's portfolio includes significant interests obtained through oil and gas leases from third parties. Key achievements include increasing production guidance for 2023, lowering capital expenditure guidance, and returning substantial capital to stockholders.
Financially, SM Energy reported net income of $149.9 million for Q2 2023, with a net debt-to-Adjusted EBITDAX ratio of 0.7 times as of mid-2023. The company continues to focus on operational efficiency, ESG stewardship, and maintaining a robust balance sheet. For more information, visit SM Energy's website.
- Latest News:
- April 18, 2024: Announced Q1 2024 financial results, highlighting strong operational execution and increased returns to stockholders.
- February 21, 2024: Reported excellent financial results for Q4 2023, with significant growth in net proved reserves and reduced net debt.
- November 2, 2023: Released Q3 2023 financial results, noting increased capital returns and improved well performance.
SM Energy Company (NYSE: SM) announced the preliminary results for Q3 2022, showing production volumes slightly higher than anticipated, particularly in South Texas and the Midland Basin. The company completed 31 net wells during the quarter and expects full-year production between 52.5 and 53.0 MMBoe, with plans for 81 net wells. Average realized prices before hedges stood at $65.27 per Boe, with a post-hedge average of $50.58 per Boe. An earnings release is scheduled for November 3, 2022, after market close.
SM Energy announced a capital return strategy on September 7, 2022, which includes a share repurchase of up to $500 million and an increased fixed dividend of $0.60 per share annually. The board aims to enhance shareholder value by initiating stock buybacks through 2024 and providing a predictable yield at current commodity price levels of $60 per barrel for oil and $3 per Mcf for natural gas. The increased dividend yields approximately 1.4%, with the first payout scheduled for November 7, 2022. This strategy reflects confidence in the company's financial health and asset quality.
SM Energy Company (NYSE: SM) announced strong Q2 2022 results with net income of $323.5 million, or $2.60 per diluted share, significantly up from a loss of $223 million in Q2 2021. The company achieved record cash flow of $514.4 million and increased its production guidance for 2022 to between 54-55 MMBoe. The leverage ratio improved to 0.7 times, and net debt is expected to approach $1 billion by year-end. Additionally, the company is set to enhance methane detection using advanced technology. Overall, operational performance exceeded expectations, bolstered by higher commodity prices.
SM Energy Company (NYSE: SM) has announced the release date for its second quarter 2022 financial and operating results, scheduled for August 3, 2022, after market close. This will include an earnings release, a pre-recorded webcast, and a presentation available on the Company’s website. Following this, a Q&A session is set for August 4, 2022, at 8:00 AM Mountain time, accessible via webcast or telephone. For further details, visit the Company’s investor relations page.
SM Energy Company announced its participation in several investor conferences scheduled for June 2022. Presentations will be available on their website before market opens on June 1 and June 23. Key events include the Wells Fargo Energy Conference on June 1, where CEO Herb Vogel will meet investors, and the J.P. Morgan Energy Conference on June 23, which will be webcast. The company aims to provide updated investor presentations throughout these events.
SM Energy Company announced its first quarter 2022 financial results, displaying strong financial health and production metrics. Key highlights include a net income of $0.39 per diluted share, a significant increase in operating cash flow to $480.1 million, and a record high Adjusted EBITDAX of $524.6 million. The company aims to reduce its absolute debt and plans to redeem its 10.0% Senior Secured Notes due 2025, worth approximately $446.7 million, by June 17, 2022. Production reached 13.8 MMBoe, marking a 37% increase year-over-year, driven by successful well performance.
SM Energy Company (NYSE: SM) has announced the release date for its first quarter 2022 financial and operating results, which will occur after market close on April 28, 2022. The announcement will include an earnings release, a pre-recorded webcast, and a presentation available on the company's website. Additionally, SM Energy management will host a Q&A session on April 29, 2022, at 8:00 a.m. MT, accessible via webcast and telephone. Investors can register for the live conference call online.
SM Energy Company (NYSE: SM) has announced a semi-annual cash dividend of $0.01 per share, payable on May 6, 2022. The record date for stockholders is set for April 22, 2022. Currently, there are approximately 121.9 million shares outstanding. This dividend approval reflects the company’s ongoing commitment to return value to its shareholders amidst its operations in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in Texas.
SM Energy Company reported significant growth for 2021, achieving a 22% increase in estimated proved reserves to 492 MMBoe. The company's capital expenditures were $664 million, slightly below guidance, while production reached 51.4 MMBoe, with net cash from operations of $1.04 billion. The company emphasized its disciplined capital strategy, reducing net debt by $475 million to $1.80 billion. SM Energy plans to prioritize debt reduction and further develop its Austin Chalk assets in 2022, aiming for a leverage target of 1.0 times net debt-to-Adjusted EBITDAX.
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