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On March 4, Ramiro G. Peru, a director at SM Energy Co (NYSE:SM), purchased 5,000 shares of the company’s common stock at $28.72 per share. The purchase comes as the stock trades near its 52-week low, with InvestingPro analysis indicating the shares are currently undervalued. This acquisition, valued at approximately $143,600, increases Peru’s total holdings to 82,535 shares. The transaction reflects Peru’s continued investment in the Denver-based crude petroleum and natural gas company, which maintains a "GOOD" financial health score according to InvestingPro metrics. The company trades at an attractive P/E ratio of 3.8 and has maintained dividend payments for 33 consecutive years, currently yielding 2.8%. For deeper insights into insider trading patterns and 15+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SM Energy has caught the attention of KeyBanc, which reiterated its Overweight rating on the company and maintained a price target of $60.00. This comes after detailed discussions between SM Energy’s CEO, Herb Vogel, and long-only investors, focusing on the company’s development plans for the Uinta Basin. Although specific details on the 2025 production outlook were not disclosed, conversations suggest that production volumes could exceed current projections of 207 thousand barrels of oil equivalent per day and the consensus estimate of 208 mboe/d. The Uinta Basin is expected to grow in 2024 with a three-rig program, although a near-term decline is anticipated. KeyBanc highlighted the potential reduction in operational rigs from nine to six by 2025, which could impact the company’s three basins. Despite this, the firm remains confident in SM Energy’s strategic operations and growth potential. Investors are looking forward to the next update on the company’s production outlook, which is expected in February.
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