SM Energy: Robust Fundamentals, Muddled Macro (Rating Downgrade)

Last September we were looking at going long WTI oil, and realized that the building blocks available favored an E&P company versus WTI futures ETFs. To that end, we wrote an article in respect to SM Energy (With an investment banking cash and derivatives trading background, Binary Tree Analytics ('BTA') aims to provide transparency and analytics in respect to capital markets instruments and trades. BTA focuses on CEFs, ETFs and Special Situations, and aims to deliver high annualized returns with a low vola ...