Welcome to our dedicated page for Sm Energy SEC filings (Ticker: SM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Parsing shale-reserve estimates, hedge positions, and environmental risks inside SM Energy’s disclosures can feel like reading a drilling log at midnight. The typical 10-K alone tops 300 pages; Form 4 filings hit the wire after hours. Investors searching for "SM Energy insider trading Form 4 transactions" or a quick glance at the next "SM Energy quarterly earnings report 10-Q filing" often waste valuable time hopping between documents. That’s why Stock Titan delivers "SM Energy SEC filings explained simply"—so you can focus on strategy, not page numbers.
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SM Energy Company announced a definitive Agreement and Plan of Merger with Civitas Resources. At closing, each share of Civitas common stock will be converted into the right to receive 1.45 shares of SM Energy common stock, subject to customary conditions and approvals. The transaction uses a two‑step merger structure in which Civitas first becomes a wholly owned subsidiary of SM Energy and then merges into SM Energy.
SM Energy will seek stockholder approval for the stock issuance and to amend its charter to increase authorized common shares to 400,000,000. The combined board will have 11 directors (six from SM Energy and five from Civitas) and three committees with designated chairs as outlined. Closing conditions include Civitas stockholder approval, SM Energy stockholder approvals, HSR clearance, NYSE listing approval for the new shares, and effectiveness of a Form S‑4, plus a tax opinion that the mergers qualify under Section 368(a).
The Merger Agreement includes outside dates of August 3, 2026 (with potential extension to November 2, 2026 for antitrust matters) and termination fees of
SM Energy Company reported third-quarter results and outlined key updates. Total operating revenues were $811,591,000$811,009,000. Net income was $155,088,000, or $1.35 per diluted share. Year to date, operating cash flow reached $1,559,088,000, supporting a quarterly dividend of $0.20 per share.
As of September 30, 2025, cash and cash equivalents were $162,251,000. Senior Notes, net, totaled $2,712,711,000 (with a $418,593,000 current portion). The revolving credit facility had no borrowings at quarter end, with available borrowing capacity of $1,998,500,000 as of October 22, 2025. The company repurchased 445,000 shares in Q3 for $12,119,000, leaving $487,900,000 authorized for repurchases through 2027. Derivative positions were a net asset of $58,504,000.
Subsequent to quarter end, SM Energy entered into a merger agreement to acquire Civitas Resources, under which each Civitas share will be exchanged for 1.45 SM shares, subject to customary approvals, with closing expected in the first quarter of 2026.
SM Energy Company furnished a press release announcing its third‑quarter 2025 financial and operating results, along with an operational update. The company replaced its previously scheduled November 5 webcast with a conference call today, November 3, at 8:00 a.m. Mountain / 10:00 a.m. Eastern, accessible via webcast and telephone as described in the release. The press release is provided as Exhibit 99.1.
SM Energy Company announced it entered into an Agreement and Plan of Merger with Civitas Resources on November 2, 2025, using a wholly owned subsidiary to effect the deal. The companies issued a joint press release and investor presentation describing a $12.8 billion combination, as reflected in the exhibit titles.
The companies plan to file a Form S-4 that will include a joint proxy statement/prospectus, which will be mailed to stockholders after effectiveness. The transaction is subject to stockholder approvals and required governmental and regulatory approvals. The disclosure highlights customary risks, including potential delays, the possibility of termination, integration challenges, and impacts on market price and business relationships.
Investors can access the press release (Exhibit 99.1) and investor presentation (Exhibit 99.2) on the companies’ websites and the SEC’s EDGAR system.
The Vanguard Group filed a Schedule 13G/A (Amendment No. 14) reporting beneficial ownership of SM Energy Co common stock. Vanguard reported ownership of 13,856,552 shares, representing 12.05% of the class as of the event date 09/30/2025.
Vanguard listed 0 shares with sole voting power and 818,886 shares with shared voting power. It reported 12,910,265 shares with sole dispositive power and 946,287 shares with shared dispositive power. Vanguard certified the securities were acquired and are held in the ordinary course of business and not to change or influence control.
SM Energy Company amended its revolving Credit Agreement. The Third Amendment removes the prior “springing maturity” that could have accelerated the October 1, 2029 maturity if over $50,000,000 of senior notes remained outstanding 91 days before their due date. The new clause accelerates maturity only if two conditions are both met: (i) the outstanding balance of all Senior Notes and other unsecured debt maturing within 91 days exceeds $50,000,000 in aggregate, and (ii) borrowing availability under the Credit Agreement, less that near‑term unsecured debt, is less than 20% of the current revolving commitment.
The company also announced completion of its semi‑annual borrowing base redetermination and the amendment via a press release furnished under Regulation FD. The press release was included as an exhibit.
Elizabeth Anne McDonald, President & COO of SM Energy Co (SM), reported securities transactions dated 09/09/2025. The filing shows a grant of 9,690 restricted stock units (RSUs) that vest in three equal annual installments on 09/09/2025, 07/01/2026 and 07/01/2027; vested shares will be issued to the reporting person when restrictions lapse. The filing also reports a disposition of 4,240 shares at a price of $26.71, leaving 5,450 shares beneficially owned following the reported transactions. The form is signed by an attorney-in-fact on behalf of the reporting person on 09/09/2025.
SM Energy Company announced an executive leadership transition: Chief Executive Officer Herbert S. Vogel informed the board he will retire as CEO on
Q2-25 snapshot: SM Energy (SM) reported operating revenue of $792.9 million, up 25% YoY, as the October 2024 Uinta Basin purchase now delivers 30% of sales. Net income eased 4% to $201.7 million and diluted EPS slipped to $1.76 from $1.82 amid higher lifting and DD&A costs.
Key metrics
- 1H-25 operating cash flow rose 40% YoY to $1.05 billion, comfortably covering $824 million of capex.
- Cash & equivalents: $101.9 million; revolver paid down to $0, leaving $2.0 billion of unused commitments.
- Senior notes outstanding: $2.71 billion; no maturities until 2026; net debt unchanged.
- Quarter dividend maintained at $0.20/share; $500 million remains on the repurchase authorization (no buybacks YTD).
- Q2 hedge book added $78.3 million non-cash gain plus $39.7 million cash settlements.
- Cost pressure: production expense +64% YoY to $224.0 million; DD&A +63% to $293.0 million; interest expense doubled to $42.6 million.
Management is shifting from integration to optimization of the Uinta asset while reiterating its focus on balance-sheet strength and shareholder returns. Liquidity is ample, covenant headroom strong, but rising operating costs and capex temper earnings momentum.
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