Long Position on SM @ $33.00 on 1/27/2017 (Momentum)

SM Energy Company (SM) engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America.

It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken and Three Forks formations in the North Dakota; and Permian region covering western Texas and southeastern New Mexico.

As of December 31, 2015, the company had 471.3 million barrels of oil equivalent of estimated proved reserves; and working interests in 872 net productive oil wells and 653 net productive gas wells. 

Shares have formed a bullish "double bottom" and higher share prices are expected for this stock. Note that crude oil prices are lower in pre-market trading which should create a better entry point for the stock.

52-Weeks Trading Range: $6.99 - $43.09

Entry Point: $33.00

Stop Loss: $31.20

Target Price: $36.30

Updates

2/8/2017 2:56:05 PM

SM closed at $28.15

Position closed on 2/8/2017 at price of $28.15 with a -14.70% loss in 12 days.

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