Here is why SM Energy Company (SM) stock popup in the after-hours on Thursday?

CEA Stock
CEA Stock

SM Energy Company (SM) stock went up 4.71% in after-hours on Thursday, October 28, 2021, and closed the daily trading at $33.60. However, in the regular trading session, SM’s stock lost 0.53%. SM shares have risen 2192.14% over the last 12 months, and they have moved up 7.83% in the past week. Over the past three months, the stock has gained 71.60%, while over the past six months, it has jumped 103.10%.

Let’s see what’s going on with the company?

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SM Stock recent financial results announcement

On October 28, 2021, SM Energy Company announced financial results for the third quarter of 2021 and provided certain fourth quarter, and updated full-year 2021 guidance.

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Q3 2021 financial highlights

  • Total operating revenue and other income were $760.24 million in Q3 2021 compared to $281.01 million in Q3 2020.
  • SM total operating expenses were $634 million in Q3 2021 compared to $384.2 million in Q2 2020.
  • The net cash provided by operating activities was $328.1 million in Q3 2021 compared to $184.8 million in the comparable prior-year period.
  • it reported a net income of $85.6 million, or $0.69per diluted common share in Q3 2021 compared with a net loss of $98.3 million, or $0.86 per diluted common share, for the same period in 2020.
  • Adjusted EBITDAX was $346.66 million in Q3 2021 compared to $232.5 million in Q3 2020.

Q4 and FY 2021 financial guidance

For FY 21, the company is expecting,

  • Production in the range of 49.5-50.0 MMBoe, or 135.6-137.0 MBoe/d, with 54%-55% oil.
  • Capital expenditure in the range of $670-675 million.
  • Exploration expenses up to ~$40 million.

For Q4 2021, it’s expecting

  • Production of 12.7-13.2 MMBoe or 138-143.5 MBoe/d.
  • Capital expenditures of $111-116 million.

SM Stock Semi-Annual Cash Dividend declaration

On September 22, 2021, the board of directors of SM Energy Company approved a semi-annual cash dividend of $0.01 per share of common stock outstanding. The dividend will be paid on November 5, 2021, to stockholders of record as of the close of business on October 25, 2021.

SM Stock 2020 SASB Report

On August 16, 2021, SM Energy Company published its updated 2020 Sustainability Accounting Standards Board (SASB) report for oil and gas exploration and production companies, as well as certain environmental, social and governance (ESG) metrics relevant to understanding the Company’s 2020 ESG performance. The report is available on the company’s website.

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The recent financial results were the reason behind its surge in the after-hours on Thursday and we can expect it to continue its momentum on Friday as well.


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