SM
Market read
SM accounts for 6.8% of the group's measured movement across 7.0 effective names. raw member direction is mixed; 7 of 11 SPY-adjusted paths align to the downside. Capital-flow agreement is 28%, so confirmation is not yet clean. No verified headline preceded the measured group move.
SM was the first measured mover. SM crossed its material path threshold at 10:40 ET. CVE, VIST, EC followed.
5 of 11 members in Oil & Gas are active. 0 of 1 disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 3 of 11 members or fewer.
Research brief
SM accounts for 6.8% of the group's measured movement across 7.0 effective names. raw member direction is mixed; 7 of 11 SPY-adjusted paths align to the downside. Capital-flow agreement is 28%, so confirmation is not yet clean. No verified headline preceded the measured group move.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Investing activities For the Six Months Ended June 30, Amount Change Between Periods 2026 2025 (in millions) Net cash used in investing activities $ (485) $ (839) $ 354 Net cash used in investing activities decreased for the six months ended June 30, 2026, co…”10-Q · Aug 6, 2026 ↗
“Interest expense increased 157 percent YTD 2026-over-YTD 2025 primarily driven by interest expense attributable to our Civitas Senior Notes assumed in connection with the Merger.”10-Q · Aug 6, 2026 ↗
“Other operating income For the Three Months Ended For the Six Months Ended June 30, 2026 March 31, 2026 June 30, 2026 June 30, 2025 (in millions) Other operating income $ 82 $ 2 $ 84 $ 13 Other operating income increased $80 million sequentially and $71 milli…”10-Q · Aug 6, 2026 ↗
“These tariffs, along with retaliatory tariffs from other countries, could lead to reduced trade resulting from increased costs for imported goods and decreased demand for U.S.”10-K · Feb 26, 2026 ↗
Valuation discipline
Price/sales 1.3× · EV/sales 1.2×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 7 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for SM. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
10-Q filed 2026-08-06 against the comparable filing from 2025-08-01.
Capital and cash conversion
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
No thresholded deterioration was identified.
“This increase was primarily driven by an 18 percent sequential quarterly increase in average daily equivalent production to 439.7 MBOE per day, reflecting a full quarter of production from the assets acquired in the Merger, and a 22 percent sequential quarterly increase in total realized price per BOE, before the effect of net derivative settlements (“realized price” or “realized prices”), resulting from increases in benchmark oil prices.”
“Production tax expense per BOE increased 34 percent sequentially and 58 percent YTD 2026-over-YTD 2025, primarily due to higher realized oil prices, and a higher production tax rate associated with our acquired DJ Basin assets relative to our pre-merger asset base, with the sequential increase also reflecting a full quarter of DJ Basin operations.”
“Our realized price on a per BOE basis increased 12 percent YTD 2026-over-YTD 2025 primarily due to increases in benchmark oil prices, partially offset by decreases in realized gas prices driven by unfavorable price differentials at Waha and CIG Rockies during the first half of 2026.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
“At closing, the Company acquired a 20 % undivided working interest in the assets sold by XCL, with SM Energy Company, an unaffiliated third party, acquiring the other 80 % and becoming the operator of the acquired assets.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
SM is currently a Participant in the organic co-movement group Oil & Gas. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.