SM Energy Shares Up On Revised Q2 And 2023 Outlook
Portfolio Pulse from Lekha Gupta
SM Energy Co (NYSE:SM) has revised its Q2 2023 and 2023 outlook, expecting higher production and lower costs. The company increased its oil production outlook for Q2 and 2023 and announced a 10% cut in capital expenditures guidance. SM also lowered its LOE per Boe for both Q2 and 2023 and repurchased 2.6 million shares from its $500 million stock repurchase program.
June 21, 2023 | 2:50 pm
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SM Energy has revised its Q2 2023 and 2023 outlook, expecting higher production and lower costs. The company increased its oil production outlook for Q2 and 2023 and announced a 10% cut in capital expenditures guidance.
SM Energy's revised outlook indicates higher production and lower costs, which are positive factors for the company's performance. The increase in oil production outlook and the 10% cut in capital expenditures guidance suggest that the company is operating more efficiently, which could lead to higher profitability and a positive impact on its stock price in the short term.
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IMPORTANCE 80
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