SM Energy Announces Permian Basin Acquisition
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KeyBanc Upgrades SM Energy (SM) to Overweight
August 10, 2016 7:26 AM EDTKeyBanc upgraded SM Energy (NYSE: SM) from Sector Weight to Overweight with a price target of $40. The company recently announced an agreement to acquire assets in the Permian.
"We are upgrading shares of SM following a rather transformative expansion in... More
SM Energy's (SM) Permian Acquisition Seen as Consistent with Company Message
August 8, 2016 1:46 PM EDTDeutsche Bank maintained a Hold rating on SM Energy (NYSE: SM) with a price target of $35. Earlier the company announced that it has entered into a definitive purchase agreement to acquire 24,783 net acres in Howard County, West Texas, expanding the Companys Midland Basin footprint to approximately 46,750 net acres.
Commenting on the development, analyst Josh Silverstein said, "Beyond a common theme of accelerating activity through... More
SM Energy (SM) Announces 15M Share Common Stock Offering
August 8, 2016 6:52 AM EDTSM Energy Company (NYSE: SM) announced that it has commenced an underwritten public offering of 15,000,000 shares of its common stock. The Company expects to grant the underwriters in the offering a 30-day option to purchase up to 2,250,000 additional shares of common stock.
SM Energy intends to use the net proceeds from the offering to pay a portion of the purchase price for its recently announced acquisition of all of the outstanding membership interests of an entity holding undeveloped leasehold interests, producing... More
