SM update not well received

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bobs
Posts: 221
Joined: Mon Apr 26, 2010 2:32 pm

SM update not well received

Post by bobs »

If this news is typical of the Perm doesnt seem good.
ChuckGeb
Posts: 945
Joined: Thu Nov 21, 2013 2:46 pm

Re: SM update not well received

Post by ChuckGeb »

Production within their previously released guidance albeit the low end. My experience is that Wall Street never reacts favorably to any earnings release or production updates.
dan_s
Posts: 34463
Joined: Fri Apr 23, 2010 8:22 am

Re: SM update not well received

Post by dan_s »

SM's production down from Q3 to Q4 because of weather and 3rd party facility issues. It should bounce back in Q1. IMO the dip last week was more because of overall sector weakness. SM made a lot of progress this year on their goals and they should be fine in 2019, especially when the Permian pipeline capacity issues are resolved later this year.

Gabriele Sorbara at Williams Capital sent a new report to Reuters this morning (2/11/2019). He rates SM a BUY with a $36.00/share valuation.
Dan Steffens
Energy Prospectus Group
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