SM Energy Company (SM) Stock Price & Analysis
SM Energy Company (SM) closed at USD 38.42 on Thursday, October 22, 2026, down 0.49% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 38.61; the Oct 22, 2026 session ranged USD 37.61–39.26 on volume of 2,307,475 shares. Market capitalization is $9.14B, with a 52-week range of USD 17.45–41.56 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/SM.md
Key facts (SM)
- Last four reported quarters (through Jun 30, 2026): revenue $5.50B, net income $1.00B (18.2% margin) (SEC filings).
- Valuation: P/E 9.1x (avg 4.9x at the last 3 fiscal year-ends), net debt $6.00B.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.6M; 3 not under a Rule 10b5-1 plan ($1.6M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.33 on a 1–5 scale) (18 analysts), mean target USD 46.22 (range 35–60).
- Total return with dividends: 1Y +84.3% vs S&P 500 +14.9%; 5Y +38.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 1.98, revenue estimate $2.05B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (SM)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.62B | $3.36B | $2.37B | $2.69B | $3.15B | $5.50B |
| Operating income | $209M | $1.58B | $987M | $1.08B | $1.00B | $1.63B |
| Net income | $36.2M | $1.11B | $818M | $770M | $648M | $1.00B |
| EPS (diluted) | $0.29 | $8.96 | $6.86 | $6.67 | $5.64 | — |
| Operating margin | 8.0% | 47.0% | 41.6% | 40.0% | 31.7% | 29.6% |
| Net margin | 1.4% | 33.1% | 34.5% | 28.6% | 20.5% | 18.2% |
| Revenue growth | +132.8% | +28.1% | -29.3% | +13.3% | +17.2% | — |
| Cash + short-term investments | $333M | $445M | $616M | $0K | $368M | — |
| Total debt | $2.08B | $1.57B | $1.58B | $2.71B | $2.30B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (SM)
P/E 9.1x · P/S 1.7x · EV/Sales 2.8x · P/B 1.2x · Earnings yield 10.94% · Dividend yield (paid, TTM) 1.98% · Net debt $6.00B · EV $15.1B
P/E at fiscal year-ends: Dec 2025 3.3x, Dec 2024 5.8x, Dec 2023 5.6x.
Insider sales (SEC Form 4, open-market, last ~7 months) (SM)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-10 | Venkatraman Ashwin | Director | 3,650 | $140K | 22.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-21 | Lebeck James Barker | EVP, GC & Corp Secretary | 17,500 | $648K | 54.3% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-21 | Peru Ramiro G | Director | 24,553 | $834K | 27.1% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (SM)
Consensus Buy (mean 2.33 on a 1–5 scale), 18 analysts; mean target USD 46.22 (low 35, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Susquehanna | Target raised | Neutral | $32 → $44 |
| 2026-10-15 | Scotiabank | Initiated | Sector Perform | $39 |
| 2026-10-07 | Truist Securities | Target raised | Buy | $43 → $48 |
| 2026-09-15 | Keybanc | Target raised | Overweight | $39 → $46 |
| 2026-09-14 | UBS | Target raised | Buy | $36 → $48 |
| 2026-09-03 | Seaport Global | Initiated | Sell | $35 |
| 2026-08-13 | Wells Fargo | Upgrade | Equal-Weight → Overweight | $32 → $47 |
| 2026-08-10 | Truist Securities | Target raised | Buy | $37 → $43 |
| 2026-07-21 | Raymond James | Target lowered | Outperform | $55 → $48 |
| 2026-07-21 | Susquehanna | Target raised | Neutral | $31 → $32 |
| 2026-07-15 | UBS | Initiated | Buy | $36 |
| 2026-07-07 | Truist Securities | Target lowered | Buy | $39 → $37 |
Total return (dividends reinvested) (SM)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +84.3% | +38.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +84.7% | +6.6% |
| Volatility (annualized) | 51.5% | 53.8% |
| Max drawdown | -25.6% (May 2026→Jul 2026) | -64.5% (Apr 2024→Jan 2026) |
SM revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Crude Oil | $2.03B | 94.0% | +210.3% |
| Natural Gas Liquids (NGL) | $115.0M | 5.3% | +113.0% |
| Natural Gas | $15.0M | 0.7% | -80.8% |
| Total revenue | $2.16B | 100% | — |
SM revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Midland Basin | $1.11B | 51.5% | +224.6% |
| DJ Basin | $579.0M | 26.9% | — |
| Uinta Basin | $286.0M | 13.3% | +23.3% |
| South Texas | $181.0M | 8.4% | -14.2% |
| Total revenue | $2.16B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
SM suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Civitas Resources | “On November 2, 2025, we entered into the Merger Agreement with Civitas.” |
Quoted from the company's 10-K filed Feb 26, 2026.
SM customer concentration
In the period ended Dec 31, 2025, 2 direct customers each accounted for at least 10% (28%, 6%) of revenue, per the company's 10-K filed Feb 26, 2026. The company does not name them.
SM analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.98 | $1.64 | +20.4% | $2.05B | 18 |
| Next quarter (ends Dec 2026) | $2.19 | $1.64 | +33.4% | $2.13B | 17 |
| Current fiscal year (ends Dec 2026) | $8.08 | $6.89 | +17.3% | $7.86B | 18 |
| Next fiscal year (ends Dec 2027) | $8.51 | $7.34 | +16.0% | $7.88B | 12 |
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 38.42 |
|---|---|
| Change | ▼ 0.49% (down) |
| Previous Close | USD 38.61 |
| Open | USD 39.3 |
| Day Range | USD 37.61 – 39.26 |
| 52-Week Range | USD 17.45 – 41.56 |
| Volume | 2,307,475 shares |
| Market Cap | $9.14B |
| Exchange | NYQ |
Technical Analysis (SM)
Nexqual's technical model rates SM "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 57.48 (neutral) |
| vs SMA50 | Above (USD 36.59) |
| MACD | 0.86 (positive) |
Analyst Ratings (SM)
Wall Street analysts rate SM "Buy" based on 18 analysts, with a mean price target of USD 46.22 (range USD 35–60), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 18 |
| Mean Target | USD 46.22 |
| High Target | USD 60 |
| Low Target | USD 35 |
| Buy / Hold / Sell | 11 / 6 / 1 |
Earnings (SM)
| Next Earnings Date | 2026-11-03 |
|---|---|
| EPS Estimate | USD 1.98 |
| Revenue Estimate | $2.05B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 2.19 vs est 1.95 ▲ beat |
| 2026-03-31 | USD 1.55 vs est 1.13 ▲ beat |
| 2025-12-31 | USD 0.83 vs est 0.83 ▲ beat |
| 2025-09-30 | USD 1.33 vs est 1.25 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (SM)
| Total Revenue | $4.96B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +176.10% |
| Gross Margin | +86.46% |
| Operating Margin | +60.32% |
| Profit Margin | +20.15% |
| ROE | +16.13% |
| Debt / Equity | 0.95 |
| Current Ratio | 0.62 |
| Total Cash | $620.00M |
| Total Debt | $7.43B |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (SM)
Nexqual rates SM Energy Company's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Strong — Revenue +17% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 86%, operating 60% (last 12 months) |
| Balance Sheet | Weak — $620M cash and investments vs $6.62B debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $2.01B (FY ended Dec 2025, 10-K) |
| Efficiency | Solid — ROE 16%, ROA 6.9% |
Ownership (SM)
| Insider Ownership | +0.92% |
|---|---|
| Institutional Ownership | +100.00% |
| Shares Outstanding | 237.85M |
| Float | 222.75M |
| Short % of Float | +6.86% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (SM)
SM Energy Company is led by Elizabeth Anne McDonald, President, CEO & Director, per Nexqual as of October 23, 2026 at 10:37 UTC.
| President, CEO & Director | Elizabeth Anne McDonald |
|---|---|
| Executive VP & CFO | A. Wade Pursell |
| Executive VP & COO | Blake D. Mckenna |
| Vice President of Investor Relations | Megan P. Hays |
| Vice President of Marketing | Julie T. Gray |
Major Backers & Investors (SM)
Notable institutional backers of SM Energy Company include Canada Pension Plan Investment Board, Aristeia Capital, LLC, American Century Companies Inc, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Canada Pension Plan Investment Board | 6.09% |
| Aristeia Capital, LLC | 5.47% |
| American Century Companies Inc | 3.76% |
| Donald Smith & Co., Inc. | 3.22% |
| Fidelity | 1.12% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 16.51% |
| Vanguard Group | 10.97% |
| State Street | 4.92% |
| Dimensional Fund Advisors | 3.44% |
| Geode Capital | 2.64% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Legal & Regulatory Risks from SM Energy Company's Latest 10-K (filed 2026-02-26)
- We are incorporating artificial intelligence technologies into our processes and these technologies may present business, compliance, and reputational risks.
- Our ability to produce oil, gas, and NGLs economically and in commercial quantities could be impaired if we are unable to acquire adequate supplies of water for our drilling and/or completions operations or are unable to dispose of or recycle the water we produce at a reasonable cost and in accordance with applicable environmental rules and regulations.
- Our certificate of incorporation and by-laws have provisions that discourage corporate takeovers and could prevent stockholders from receiving a takeover premium on their investment, which could adversely affect the price of our common stock.
Source: SEC EDGAR 10-K, Item 1A, official filing.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CHRD | Chord Energy Corporation | USD 150.48 | ▼ 0.25% |
| RRC | Range Resources Corporation | USD 43.86 | ▲ 2.14% |
| VIST | Vista Energy S.A.B. de C.V. | USD 70.61 | ▼ 1.16% |
| MTDR | Matador Resources Company | USD 56.79 | ▼ 1.66% |
| AR | Antero Resources Corporation | USD 39.04 | ▲ 1.38% |
| MGY | Magnolia Oil & Gas Corporation | USD 25.27 | ▼ 0.63% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt