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Why SM Energy Stock Jumped 14% Today, With Centennial, Range Resources, and Callon Tagging Along for the Ride

·4 min read
Why SM Energy Stock Jumped 14% Today, With Centennial, Range Resources, and Callon Tagging Along for the Ride

Shares of U.S. energy producer SM Energy (NYSE: SM) rose as much as 14% in early trading on Tuesday. Also rising notably were Range Resources (NYSE: RRC) and Callon Petroleum (NYSE: CPE) which both hit high-water marks of 12.5%, and Centennial Resource Development (NASDAQ: CDEV), with a peak gain just shy of 12%. By about 11:30 a.m. EDT today, Centennial's gain had been trimmed to roughly 8%, with Range and Callon both sitting with about 10% advances.

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