I am watching all my energy and energy related stocks generally going green today with some rebound in WTI, but SM is still under pressure trading for 15.50 as I type.
I thought SM was cheap a 16 and change so at 15.50 it look completely on sale.
With expected CF of $4+ in 2017 SM has become VERY undervalued in my opinion. I have been selling the Jan 2018 15 puts but now I am also selling the 12.50 strike puts (for as much as 1.70).
Unless Oil really tanks I am having a hard time seeing SM down to $12 a share.
Many analysts have SM value at 30+
Comments welcome.
SM has to be a VERY undervalued at 15.50
Re: SM has to be a VERY undervalued at 15.50
Good well results in Howard County should draw a lot of attention to SM. I know a landman in Midland and he told me this week that their wells in Howard are doing very well.
He told me that SM's Viper 14-9 1WA well in Howard County ramp up to 1,800 Boepd last week.
He told me that SM's Viper 14-9 1WA well in Howard County ramp up to 1,800 Boepd last week.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group