SM ENERGY (SM)
Energy · Independent Oil and Gas Exploration and Production (E&P) · NYSE
SM Energy is an independent U.S. upstream oil and gas producer focused on crude oil, natural gas, and NGL development across onshore assets, recently merged with Civitas Resources to strengthen production and return capital to shareholders.
What SM ENERGY does
SM Energy is an independent oil and natural gas exploration and production company that develops and produces crude oil, natural gas, and natural gas liquids primarily through operations across multiple U.S. regions. The company recently completed a merger with Civitas Resources to expand its asset base and operational scale. SM Energy explores for, develops, and produces oil and gas reserves from properties operated and non-operated, with a focus on returning value to shareholders through disciplined capital allocation.
Themes: ["Oil and gas exploration and production","Energy commodities / upstream oil and gas","U.S. onshore production","Reserve replacement and development","Digital transformation in energy","Merger integration (Civitas Resources)"]
Fundamentals
- Price$28.34 as of 2026-07-09 close
- Market cap$6.7B as of 2026-07-10
- 1-year return+2.2% as of 2026-07-09 close
- P/E51.55 as of 2026-07-10
- Net margin+3.5% as of 2026-07-10
- Gross margin+71.3% as of 2026-07-10
- ROE+2.5% as of 2026-07-10
- Debt / equity1.16 as of 2026-07-10
- Revenue growth (YoY)+27.4% as of 2026-07-10
- Revenue CAGR (3y)-2.1% SEC XBRL
- Beta0.78 as of 2026-07-10
Dividend: yield +3.1%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Volatility in oil, natural gas, and NGL commodity prices directly impacts profitability, cash flows, and access to capital; price declines may trigger asset write-downs and impair financial condition.","Integration of the recent Civitas merger poses significant execution risk, including potential disruptions to business relationships, unrealized synergies, and ongoing integration costs throughout 2026.","Dependence on third-party infrastructure (pipelines, gathering systems, processing facilities, transportation) for market access; firm transportation contracts require fixed payments regardless of actual volumes delivered, creating cash flow pressure if unable to meet delivery obligations."]
Competitors & peers
- Diamondback Energy (FANG)
- Centennial Resource Development
- Range Resources (RRC)
- EQT Corporation (EQT)
- Comstock Resources
- Gulfport Energy
- Ovintiv (OVV)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.