On August 20, SM Energy Co rose 5.26% in regular trading, trading at $38.04/share, with turnover of $44.92 million, extending its recent strong momentum.

On the news front, Wells Fargo recently upgraded SM Energy from Equalweight to Overweight and raised the price target from $32 to $47, implying approximately 24% upside from current levels. The upgrade follows SM Energy's Q2 results that significantly beat expectations, with adjusted EPS of $2.19 surpassing the consensus estimate of $1.77 by 23.7%, and revenue of $2.50 billion exceeding the $2.004 billion estimate by nearly 25%. The company also raised its second-half production guidance to 435-440 Mboe/D, including 238 Mbbl/D of crude oil. Additionally, the integration of the Civitas acquisition is progressing ahead of schedule, with the company having fully redeemed its 2026 senior notes and executed a $950 million South Texas asset divestiture, demonstrating continued balance sheet optimization.

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