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SM Energy jumps 10% after Q2 earnings crush estimates

Jul. 29, 2015 11:49 AM ETSM Energy Company (SM) StockSMBy: Carl Surran, SA News Editor2 Comments
  • SM Energy (SM +9.8%) surges after reporting surprisingly hefty Q2 earnings of $0.49/share, beating analyst expectations for a loss, and coming in with better than expected revenues.
  • SM says Q2 production totaled 181K boe/day, up 23% from 147K boe/day in the year-ago quarter, and raises its forecast for FY 2015 to 168K-175K boe/day from its prior outlook of 165K-174K boe/day, driven by strong performance in the Eagle Ford.
  • Topeka Capital maintains its Buy rating, as it continues to see upside from the stacked-pay potential in the Eagle Ford and enhanced completions methods in both the Bakken and Eagle Ford, with additional results expected later this year (Briefing.com).

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