SM Energy Company (SM)

SM Energy's stock has declined significantly over the past six months. In November 2025, SM Energy agreed to merge with Civitas Resources Inc. in an all-stock deal valued at $7 billion, expected to close in Q1 2026. In October 2025, SM Energy acquired an 80% undivided interest in the oil and gas assets of XCL Resources, LLC and affiliated entities. A weakening oil market and SM Energy's higher-than-median debt-to-capital ratio likely pressured its stock price in 2025. Several analysts have revised their price targets for SM Energy. SM Energy reported strong financial and operating results for Q3 2025 on November 3, 2025. The company recently disclosed a quarterly dividend of $0.20 per share, payable on January 9, 2026, with an ex-dividend date of December 26, 2025.

The demand for SM Energy Co.'s products is generally influenced by broader energy market dynamics rather than direct seasonality tied to the company's specific operations. Natural gas demand can exhibit seasonality, typically increasing during colder months for heating and warmer months for electricity generation. Crude oil and NGL demand are more broadly tied to industrial activity, transportation, and petrochemical production, which can have some cyclical patterns but are less acutely seasonal than natural gas for heating.

SM Energy Co. is an independent upstream oil and gas company based in Denver, Colorado, focused on the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) in onshore North America.

SM Energy's operations are concentrated in high-quality, Lower 48 oil and natural gas producing assets within the United States, focusing on the Midland Basin in West Texas, the Maverick Basin in South Texas, and the Uinta Basin in northeast Utah. The company has offices in Texas and Colorado, with its headquarters in Denver, Colorado.

SM Energy aims to be a premier operator of top-tier assets and emphasizes a principled approach to doing business ethically and responsibly. The company highlights its commitment to exceptional stewardship, protecting employee safety and health, and being a leader in environmental stewardship by integrating processes and goals throughout the organization. They also strive to build strong partnerships with stakeholders and invest in the communities where they operate.

SM Energy Company has a diverse ownership structure, with institutional investors holding a significant portion of its stock. Approximately 87.66% or 95.51% of the company's stock is owned by institutional investors. BlackRock, Inc., Vanguard Group Inc., and iShares Core S&P Small-Cap ETF (IJR) are major institutional shareholders. Individual investors and public companies hold the remaining shares, with insiders owning approximately 1.44% or 4.83%. Robert L. Nance is noted as the largest individual shareholder, owning 1.27 million shares.