Sm Energy Stock Price, News & Analysis

SM Energy Company (NYSE: SM) announced a reaffirmation of its borrowing base at $1.1 billion, providing $880 million in liquidity as of September 30, 2020. The company has entered an agreement with a third party to fund the majority of completion costs for six wells in South Texas, reducing its fourth quarter capital expenditure guidance by approximately $15 million. Additionally, the extension of the second-lien debt capacity, totaling around $380 million, is effective until the spring 2021 redetermination.

SM Energy Company announced the retirement of CEO Javan (Jay) D. Ottoson, effective November 2, 2020. Herbert S. Vogel, currently President and COO, will succeed him as the new CEO. The Board of Directors has expanded from nine to ten members, appointing Vogel to fill the new seat. Chairman William Sullivan expressed confidence in Vogel's leadership for a sustainable future. The transition aims to continue the successful repositioning of the company’s portfolio, reinforcing stakeholder value creation while maintaining operational integrity.

SM Energy Company (NYSE: SM) reported its third-quarter 2020 results, emphasizing financial discipline and operational efficiency. Capital expenditures were $121.1 million, reflecting a 27% reduction from original guidance. The company generated $184.8 million in net cash from operations, leading to free cash flow of $63.7 million. However, net loss reached $98.3 million, considerably down from a profit of $42.2 million in Q3 2019. The company reduced long-term debt by $106.5 million and adjusted EBITDAX totaled $232.5 million, a 10% decline year-over-year.

SM Energy Company (NYSE: SM) announced the schedule for its third quarter 2020 financial results. The earnings release is set for October 29, 2020, after market close, and will be followed by a Q&A session on October 30, 2020 at 8:00 a.m. Mountain time. Investors can access the earnings release, a webcast discussion, and an associated presentation on the company's website. The call replay will be available until November 6, 2020.

For more information, visit www.sm-energy.com.

SM Energy Company (NYSE: SM) has declared a semi-annual cash dividend of $0.01 per share, set to be paid on November 4, 2020. Shareholders on record by the end of business on October 23, 2020 will receive this dividend. The company has approximately 114.6 million shares outstanding, indicating a total dividend payout of around $1.15 million. This announcement reflects the company's ongoing commitment to returning value to its shareholders amidst its operations in crude oil and natural gas in Texas.

SM Energy Company announced its participation in investor meetings on September 22, 2020. An updated investor presentation will be available on the company's website before market opening on the same date. SM Energy focuses on the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs primarily in Texas. Investors can access important updates and the presentation at ir.sm-energy.com.

SM Energy Company (NYSE: SM) has published its updated Corporate Responsibility Report, along with 2019 Sustainability Accounting Standards Board (SASB) metrics for oil and gas exploration. Highlights of the report include greenhouse gas emissions intensity surpassing internal targets, and a notable reduction in Midland Basin flaring by two-thirds in H2 2019. Additionally, the company's safety performance ranks in the top half of its peer group, and water recycling efforts nearly doubled in the same period. For further details, visit the sustainability page.

SM Energy Company (NYSE: SM) announced second quarter 2020 financial results, showing a net loss of $89.3 million or $0.79 per diluted share, a decline from a net income of $50.4 million in the prior year. Capital expenditures were reduced to $125.2 million, 26% below guidance, with free cash flow of $27.9 million. The company successfully exchanged $611.9 million of unsecured senior notes for secured notes, reducing total debt by $219 million. Production volumes fell 10% year-over-year, while operating cash flow before working capital adjustments totaled $114.3 million, down 30% compared to the previous year.

SM Energy Company (NYSE: SM) has announced the release of its second quarter 2020 financial and operational results, scheduled for after market close on July 30, 2020. A pre-recorded webcast discussion and presentation will also be made available on the Company’s website. On July 31, 2020, management will conduct a Q&A session at 8:00 a.m. MT / 10:00 a.m. ET, accessible via webcast. Investors can also register for a live conference call. The call replay will be accessible until August 7, 2020.