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Here's Why SM Energy (SM) is a Strong Momentum Stock

Zacks Equity Research
·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

SM Energy (SM)

Denver, CO-based SM Energy Company, previously known as St. Mary Land & Exploration Company, is an independent oil and gas company engaged in the exploration, exploitation, development, acquisition and production of natural gas and crude oil in North America. The company was founded in 1908 and incorporated in Delaware in the year 1915.

SM sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 1.3% and up 1% over the past one-week and four-week period, respectively, and SM Energy has gained 84% in the last one-year period as well. Additionally, an average of 1,444,368.13 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, five analysts revised their earnings estimate higher in the last 60 days for SM, while the Zacks Consensus Estimate has increased $0.91 to $6.63 per share. SM also boasts an average earnings surprise of 13.8%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding SM to their portfolios.

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SM Energy Company (SM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research