SM Energy (SM)
Explores, develops, and produces oil and gas across four U.S. shale basins.
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Explores for, develops, and produces crude oil, natural gas, and natural gas liquids across the Permian, DJ, South Texas, and Uinta basins. Revenue comes from hydrocarbon sales across an oil-weighted portfolio, while results remain tied to commodity prices, well performance, and transportation and processing capacity.
Explores for, develops, and produces crude oil, natural gas, and natural gas liquids from onshore U.S. properties. The portfolio spans the Permian Basin's Midland and Delaware sub-basins, the DJ Basin in Colorado, South Texas, and the Uinta Basin in Utah.
Uses horizontal drilling, hydraulic fracturing, and multi-formation development across the acreage. The acquired Civitas assets broadened the Permian and DJ positions, while a subsequent divestiture reduced the southern Maverick Basin footprint without removing South Texas from the portfolio.
Production is oil-weighted, with gas streams processed for natural gas liquids. Results depend on commodity prices, drilling and completion performance, access to gathering, processing, and transportation capacity, and federal, state, tribal, and local permitting and environmental rules.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 23, 2026 | UBS | Upgrade | ||
| Sep 16, 2026 | Deutsche Bank | Upgrade | ||
| Sep 15, 2026 | KeyBanc | Reiterate | Rating: —Target: $28 | Target: $46 |
| Sep 9, 2026 | Stifel Nicolaus | Target | Target: — | Target: $42 |
| Sep 4, 2026 | Morgan Stanley | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $620.0M · Total debt $7.04B · Total assets $18.86B · Shareholders' equity $7.81B
- Revenue
- $2.50B
- Operating income
- $1.50B
- Net income
- $1.07B
HistoryDividendAnnual yield
| Institutions | 97.98% | 233.06M shares | |
|---|---|---|---|
| 521 holders · as of Jun 30, 2026 | |||
| Insiders | 0.90% | 2.13M shares | |
| 22 holders · as of Sep 11, 2026 | |||
| Strategic holders | 5.47% | 13.00M shares | |
| 1 holder · as of Aug 14, 2026 | |||
| Adds to | 104.35% | ||
237.85M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 104.35%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.51% | 39.28M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.49% | 15.43M | as of Jun 30, 2026 |
Canada Pension Plan Investment BoardInstitution | 6.09% | 14.49M | as of Jun 30, 2026 |
CPPIB Crestone Peak Resources Canada Inc.Institution | 6.09% | 14.49M | filed May 15, 2026 |
Aristeia Capital LLCInstitution | 5.47% | 13.00M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 10, 2026 | Ashwin Venkatraman | director | −3,650 | $38.28 |
| Aug 21, 2026 | James Barker Lebeck | officer: EVP, GC & Corp Secretary | −17,500 | $37.02 |
| May 21, 2026 | Ramiro G. Peru | director | −24,553 | $33.98 |
- Diamondback Energy
Permian pure-play leader with deepest Midland Basin inventory at lowest cost.
- EOG Resources
Eagle Ford pioneer at 1.22 MMBoe/d; dominant in South Texas and Delaware Basin.
- Permian Resources
Second-largest Permian pure-play, Delaware Basin low-cost leader at ~413 MBoe/d.
- Ovintiv
Midland Basin operator with ~193,000 net acres, pivoting to Permian and Montney.
- Matador Resources
Delaware Basin pure-play with ~212,500 net acres and ~211,000 Boe/d production.
- APA
Permian-anchored global E&P with ~450,000 net Midland+Delaware acres.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SM Energy | $34.91 | +2.92% | $8.13B | 8.8 | 4.7 | 1.5 | +218.4% |
| Diamondback Energy | $186.92 | +1.31% | $51.90B | 36.0 | 9.7 | 3.0 | +32.1% |
| EOG Resources | $142.22 | +1.93% | $74.31B | 10.9 | 9.1 | 2.8 | +60.5% |
| Permian Resources | $21.84 | +2.56% | $17.83B | 14.1 | 9.8 | 3.1 | +55.2% |
| Ovintiv | $60.45 | +2.76% | $16.27B | 16.9 | 8.4 | 1.7 | +30.0% |
| Matador Resources | $52.97 | +2.14% | $6.44B | 8.9 | 6.5 | 1.7 | +28.2% |
| APA | $43.92 | +3.84% | $14.95B | 8.9 | 8.9 | 1.7 | +10.2% |
| Median | 12.5 | 9.0 | 2.2 | +31.0% |