Why SM Energy Stock Jumped 14% Today, With Centennial, Range Resources, and Callon Tagging Along for the Ride
What happened
Shares of U.S. energy producerSM Energy(NYSE:SM) rose as much as 14% in early trading on Tuesday. Roughly two hours into trading, the stock was still higher by 12.5%, so the price advance was sticking. And the exploration and production company was hardly alone.
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Also rising notably were Range Resources(NYSE:RRC) and Callon Petroleum(NYSE:CPE) which both hit high-water marks of 12.5%, and Centennial Resource Development(NASDAQ:CDEV), with a peak gain just…
