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Barton R. Brookman Jr., a director at SM Energy Co (NYSE:SM), recently purchased 7,000 shares of the company’s common stock. The transactions, which occurred on February 26, 2025, were executed at prices ranging from $32.35 to $32.36 per share, totaling $226,520. Following these acquisitions, Brookman now holds 14,666 shares directly.
SM Energy Co, based in Denver, operates in the crude petroleum and natural gas industry. This recent purchase could signal Brookman’s confidence in the company’s future performance.
In other recent news, SM Energy has been in the spotlight following a series of developments. KeyBanc reiterated its Overweight rating for the company, maintaining a $60.00 price target. The firm’s analyst highlighted discussions with SM Energy’s CEO, Herb Vogel, about the company’s plans in the Uinta Basin. These plans suggest potential production volumes could surpass current projections, although specifics on the 2025 production outlook remain undisclosed until February next year. Additionally, SM Energy has appointed Dr. Ashwin Venkatraman as an independent director to its Board of Directors. His expertise in technology and artificial intelligence is expected to contribute significantly to the company’s strategic direction.
On another note, the National Weather Service’s forecast of a milder December has impacted natural gas stocks, including SM Energy, which saw a decline of 3.9%. This weather prediction, linked to the current El Nino episode, has led to a decrease in natural gas prices. Despite these fluctuations, KeyBanc remains confident in SM Energy’s growth potential, citing strategic operations and upcoming updates on production outlook. Investors are keenly awaiting further details, particularly regarding the company’s plans to potentially reduce operational rigs in 2025.
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