SM Energy Company (NYSE:SM) is one of the 10 Stocks Investors Are Dumping Right Now.
SM Energy declined by 8.10 percent on Wednesday to finish at $28.81 apiece, tracking the decline in energy firms after the US struck a two-week ceasefire with Iran.
The stock fell alongside its counterparts, following President Donald Trump’s announcement that the US and Iran would hold a two-week ceasefire on condition that the latter reopens the Strait of Hormuz.
Energy transmission lines. Photo by Snapwire on Pexels
The Strait is a critical waterway passage where 20 percent of global crude oil demand passes through. Since the start of the war, it was ordered shut under Iranian control, sending prices of global crude oil and natural gas soaring, as shipping giants were forced to look for alternative paths to transport the said commodities.
Meanwhile, SM Energy Company and other oil and gas firms for weeks have benefitted from the surging oil prices, which investors expected to propel its profit margins higher in the first quarter of the year.
In other news, SM Energy Company said that it would announce the results of its first quarter earnings performance during market hours on May 7, 2026. A conference call will be held to elaborate on the results.
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