RBC Boosts Stake in SM Energy Amid Analyst Upgrades

Royal Bank of Canada (RBC) increased its stake in SM Energy Company by 112.1% during the first quarter, buying an additional 49,740 shares to bring its total holdings to 94,115.

The energy company's stock is currently trading at $33.70 per share, with a market capitalization of $8.02 billion.

SM Energy reported earnings per share of $2.19 for the quarter, exceeding analysts' expectations of $1.96, and revenue of $2.50 billion, up 215.3% from the same period last year.