SM Energy Stock Gains After The Bell On Upbeat Q4 Revenue: Retail Sentiment Hits 1-Year High

The oil and gas producer said it would look to resume share buybacks in 2025.

SM Energy (SM) shares rose 1% in aftermarket trade on Wednesday after the company’s fourth-quarter revenue topped Wall Street’s estimates.

According to Koyfin data, the oil and gas producer posted quarterly revenue of $852.2 million, compared with analysts’ average estimate of $849.4 million.

The company reported adjusted earnings of $220.2 million, or $1.91 per share, for the fourth quarter, which was in line with Wall Street’s expectations.

The company’s fourth-quarter production stood at 208,000 barrels of oil equivalent per day (boepd), a 22% rise sequentially with the addition of assets in the Uinta Basin.

The company acquired the Uinta basin assets from XCL Resources for $2.1 billion. The assets had net proved reserves of about 110 million barrels of oil equivalent.

However, SM Energy said its fourth-quarter volumes were affected by about 3,000 boepd due to downtime from third-party crude takeaway and the decision to reject ethane at some gas processing plants.

SM Energy project capital expenditure of about $1.3 billion in 2025.

It also forecast 2025 production in the range of 200,000 and 215,000 boepd.

“As we commence 2025, we are first focused on the integration of our Utah operations where results are expected to be accretive to all financial metrics,” CEO Herb Vogel said.

The company said it would look to resume its share buybacks in 2025.

Retail sentiment on Stocktwits jumped to ‘extremely bullish’ (99/100) territory from ‘neutral’(50/100) a day ago, while retail chatter remained ‘extremely low.’

On Tuesday, bigger rivals Devon Energy and Occidental Petroleum had topped profit expectations.

Over the past, SM Energy stock has fallen 1.1%.

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