Moody's Investors Service, (Moody's) downgraded SM Energy Company's (SM) Corporate Family Rating (CFR) to Caa1 from B3, Probability of Default Rating (PDR) to Ca-PD from B3-PD, senior unsecured rating to Ca from Caa1, and senior unsecured shelf to (P)Ca from (P)Caa1. The downgrade reflects the company's intention to issue new secured debt to exchange for up to $1,681 million of its senior unsecured notes at a 35% to 50% discount to par, a transaction Moody's views as a distressed exchange and thus, a default.

SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced that it has commenced offers to all Eligible Holders (as defined below) to exchange (the "Exchange Offers") any and all of its outstanding notes listed in the table below (together, the "Old Notes") for up to $900 million aggregate principal amount of newly issued senior secured notes maturing on the dates set forth below (collectively, the "New Notes"), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 29, 2020 (the "Offering Memorandum").

SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced an amendment to its existing Credit Agreement to increase the aggregate amount of second lien debt permitted thereunder. The Fourth Amendment to the Sixth Amended and Restated Credit Agreement provides that the Company is permitted to grant a second-lien security interest on up to $1.0 billion in aggregate amount, including the entire amount of its outstanding $172.5 million 1.500% Senior Convertible Notes due 2021.

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SM Energy Company Q1 2020 Financial and Operating Results Discussion

SM Energy (SM) delivered earnings and revenue surprises of 76.19% and -12.45%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Crude oil prices are in rally mode today. Leading the way were SM Energy (NYSE: SM), Matador Resources (NYSE: MTDR), WPX Energy (NYSE: WPX), NGL Energy Partners (NYSE: NGL), and PBF Energy (NYSE: PBF).

SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced that it has extended the date by which early tenders must be received for its previously announced offers to all Eligible Holders (as defined below) to exchange (the "Exchange Offers") any and all of its outstanding notes listed in the table below (together, the "Old Notes") for newly issued senior secured notes listed in the table below (together, the "New Notes"), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 29, 2020, as supplemented by Supplement No. 1 to the Offering Memorandum, dated May 5, 2020 (as so supplemented, the "Offering Memorandum").

Investors need to pay close attention to SM Energy (SM) stock based on the movements in the options market lately.

SM Energy Company (NYSE: SM) today announces that its Board of Directors has approved a semi-annual cash dividend of $0.01 per share of common stock outstanding. The dividend reflects a reduction for the current period consistent with the Company's priority to manage cash flow in light of the unprecedented and volatile market conditions. The dividend will be paid on May 8, 2020, to stockholders of record as of the close of business on April 24, 2020. The Company currently has approximately 113.0 million shares of common stock outstanding.

SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced that it has amended certain terms of its previously announced offers to all Eligible Holders (as defined in the Offering Memorandum) to exchange (the "Exchange Offers") any and all of its outstanding notes (together, the "Old Notes") for newly issued senior secured notes (collectively, the "New Notes") and solicitations of consents (the "Consent Solicitations") from holders of each series of Old Notes to certain proposed amendments to each indenture governing the Old Notes (the "Proposed Amendments"), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 29, 2020 (the "Offering Memorandum") and in the Supplement No. 1 to the Offering Memorandum, dated May 5, 2020 (the "Offering Memorandum Supplement").

SM Energy's (SM) first-quarter results are supported by higher production levels and lower lease operating expenses, partially offset by a decline in realized commodity prices.

Today, our President and CEO, Jay Ottoson, will briefly discuss the first quarter and the current environment. Today's discussion and associated presentation include forward-looking statements about our plans, expectations and assumptions regarding future performance, including expectations for capital expenditures in 2020. As a reminder, these statements involve risks that may cause our actual results to differ materially from the results expressed or implied in our forward-looking statements.

NEW YORK, April 21, 2020 -- Fields Kupka & Shukurov LLP is investigating potential breach of fiduciary duty claims involving the board of directors of SM Energy Company.

SM Energy Company ("SM Energy" or the "Company") (NYSE: SM) today announced that it has extended the expiration of its previously announced offers to all Eligible Holders (as defined below) to exchange (the "Exchange Offers") any and all of its outstanding notes listed in the table below (together, the "Old Notes") for newly issued senior secured notes listed in the table below (together, the "New Notes"), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 29, 2020, as supplemented by Supplement No. 1 to the Offering Memorandum, dated May 5, 2020 (as so supplemented, the "Offering Memorandum"). The Company has extended the expiration of the Exchange Offers from 12:00 midnight, New York City time, at the end of May 27, 2020 to 5:00 p.m., New York City time, on May 29, 2020.

Moody's Investors Service, (Moody's) downgraded SM Energy Company's (SM) Corporate Family Rating (CFR) to B3 from B1, Probability of Default Rating (PDR) to B3-PD from B1-PD, senior unsecured rating to Caa1 from B2, and senior unsecured shelf to (P)Caa1 from (P)B2. The Speculative Grade Liquidity Rating was downgraded to SGL-3 from SGL-2. The downgrade also encompasses Moody's' concern that the company's ample liquidity and the distressed trading levels of its unsecured debt may motivate it to repurchase its notes at deeply discounted prices in a volume Moody's would deem a distressed exchange.

Today we'll take a closer look at SM Energy Company (NYSE:SM) from a dividend investor's perspective. Owning a strong...

SM Energy Company (the "Company") (NYSE: SM) today announced operating and financial results for the first quarter 2020 and provided updates to its 2020 operating plan.

SM Energy (SM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.