SM Energy Plans New $500M Share Repurchase Program Through 2027, Replacing Remaining Existing Program
Portfolio Pulse from Benzinga Newsdesk
SM Energy has announced a new $500 million share repurchase program that will run through 2027, replacing the remaining existing program.
June 27, 2024 | 11:22 am
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SM Energy has announced a new $500 million share repurchase program that will run through 2027, replacing the remaining existing program. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's financial health and future prospects.
Share repurchase programs generally indicate that a company believes its stock is undervalued and is confident in its financial stability. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
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IMPORTANCE 80
RELEVANCE 100