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Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. SM Energy Co's shares outstanding for the quarter that ended in Mar. 2026 was 240 Mil.
SM Energy Co's quarterly shares outstanding
increased
from Dec. 2025 (115 Mil) to Mar. 2026 (240 Mil).
It means SM Energy Coissued new shares from Dec. 2025 to Mar. 2026 .
SM Energy Co's annual shares outstanding
increased
from Dec. 2024 (114 Mil) to Dec. 2025 (115 Mil).
It means SM Energy Coissued new shares from Dec. 2024 to Dec. 2025 .
SM Energy Co (NYSE:SM) Shares Outstanding (EOP) Explanation
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
SM Energy Co Shares Outstanding (EOP) Related Terms
SM Energy Co Shares Outstanding (EOP) Historical Data
* Premium members only.
The historical data trend for SM Energy Co's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SM vs CHRD, RRC, MTDR: Shares Outstanding (EOP) Comparison
For the Oil & Gas E&P subindustry, SM Energy Co's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SM Energy Co Shares Outstanding (EOP) vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, SM Energy Co's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where SM Energy Co's Shares Outstanding (EOP) falls into.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
What does a Shares Outstanding (EOP) of 240 Mil mean?
SM Energy Co (SM) has a Shares Outstanding (EOP) of 240 Mil as of Mar. 2026. The total shares a company has outstanding, at period-end. View historical data on SM Energy Co and its competitors.
Is SM Energy Co's Shares Outstanding (EOP) too high?
SM Energy Co's current Shares Outstanding (EOP) is 240 Mil. Overall, SM Energy Co has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does SM Energy Co's Shares Outstanding (EOP) compare to CHRD and RRC?
SM Energy Co's Shares Outstanding (EOP) of 240 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for an Oil & Gas company?
A good Shares Outstanding (EOP) depends on the Oil & Gas industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on SM Energy Co and its competitors. SM Energy Co's current Shares Outstanding (EOP) is 240 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SM Energy Co stock overvalued right now?
Based on GuruFocus' analysis, SM Energy Co (SM) is currently considered Possible Value Trap. The stock's GF Value™ is $52.26, compared to a current price of $31.72 — trading 39.3% below its estimated fair value. The current Shares Outstanding (EOP) is 240 Mil. SM Energy Co's overall GF Score™ is 73/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For SM Energy Co (SM), the current Shares Outstanding (EOP) is 240 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SM Energy Co (SM) Overvalued in 2026?
Based on GuruFocus' analysis, SM Energy Co stock appears to be undervalued.
The current stock price of $31.72 is trading 39.3% below its estimated GF Value™ of $52.26.
GuruFocus considers SM Energy Co to be Possible Value Trap.
Key valuation signals for SM:
Shares Outstanding (EOP): 240 Mil
GF Value™: $52.26 vs. price of $31.72 (39.3% below fair value)
No single metric tells the full story. See the SM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SM Energy Co is an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas, and NGLs in Texas and Utah. The Company operates in the oil and gas extraction industry, focused on exploration and production activities, onshore in the United States. Its portfolio is comprised of assets in the Midland Basin of West Texas, the Maverick Basin of South Texas, and the Uinta Basin of northeastern Utah.
73GF Score
Get the complete analysis for SM
Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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