Active Mover: SM Energy Company (NYSE: SM)

DENVER, October 21, 2019 – Shares of SM Energy Company (NYSE: SM) declined -5.63% to $7.21. The stock grabbed the investor’s attention and traded 3.137M shares as compared to its average daily volume of 4.03M shares.

SM Energy Company (SM) reported first quarter of 2019 net loss of ($177.6)0M, or ($1.58) per diluted common share, compared with net income of $317.40M, or $2.81 per diluted common share, in the first quarter of 2018. The primary components of the year-over-year difference include a net gain on divestiture activity of $385.40M in the first quarter of 2018 and a net derivative loss of $177.10M in the first quarter of 2019.

First quarter of 2019 net cash provided by operating activities (GAAP) was $118.50M. First quarter of 2019 adjusted net loss was ($37.7)0M, or ($0.34) per diluted common share, compared with adjusted net income of $8.20M, or $0.07 per diluted common share, in the first quarter of 2018. The decline in adjusted net income is predominantly due to lower realized commodity prices in the first quarter of 2019, which were down 16% per Boe, partially offset by a lower realized loss on derivatives in the first quarter of 2019. First quarter of 2019 adjusted EBITDAX was $186.50M, compared with adjusted EBITDAX of $210.20M in the first quarter of 2018.

FINANCIAL POSITION AND LIQUIDITY:

As previously reported, the outstanding principal amount on the Company’s long-term debt was $2.50B in senior notes, $172.50M in senior convertible notes, and $46.50M drawn on the Company’s senior secured credit facility. The cash balance at quarter-end was $0.00M.

Subsequent to quarter-end, the Company’s revolving credit agreement was amended to increase the borrowing base and lender commitments to $1.60B and $1.20B, respectively. Pro forma for the amended credit facility terms, liquidity at quarter-end was $1.20B.

SM has a market value of $862.17M while its EPS was booked as $0.39 in the last 12 months. The stock has 119.58M shares outstanding. In the profitability analysis, the company has gross profit margin of 69.10% while net profit margin was 2.90%. Beta value of the company was 3.00; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.50.

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