Long Position on SM @ $23.00 on 6/23/2021 (Fundamentals)

SM Energy Company (SM) is an independent energy company. The firm engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the state of Texas.

As of December 31, 2020, it had 404.6 million barrels of oil equivalent of estimated proved reserves; and working interests in 801 gross productive oil wells and 498 gross productive gas wells in the Midland Basin and South Texas.

The company was formerly known as St. Mary Land & Exploration Company and changed its name to SM Energy Company in May 2010.

On April 29th, Sm Energy reported a 1st Quarter March 2021 loss of $0.05 per share on revenue of $443.8 million. The consensus estimate was a loss of $0.23 per share on revenue of $352.2 million. Revenue grew 24.8% on a year-over-year basis.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

Entry Pint: $23.00

Stop Loss: $21.50

Trading Range: $1.34 - $24.78

Target Price: $25.30

Updates

6/24/2021 10:47:53 AM

SM closed at $25.40

Position closed on 6/24/2021 at price of $25.40 with a 10.43% gain in 1 days.

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