Shares of SM Energy Company (NYSE:SM) has price volatility of 5.33% in last 5 days trading session, as shares of firm closed at $33.86 by moving down of -1.83% in last session. Shares price moving down from its 20 days moving average with -4.68% and isolated negatively from 50 days moving average with -3.14%. SM Energy (SM) declared that it has engaged Tudor, Pickering, Holt & Co. to run a formal bid process for sale of its Divide County area assets in the Williston Basin. Assuming an acceptable offer is received, the Company expects to close the sale transaction around mid-year of 2017.
Associated December 2016 production for the Divide County assets was 10,700 Boe/d.Co states, “We expect that the sale proceeds from this planned exit of the Williston Basin and from the pending sale of our non-operated Eagle Ford assets will allow us to fully fund our drilling program, while providing us with important liquidity and the ability to reduce our outstanding debt.”
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Southwest Airlines Co. (NYSE:LUV) moves up 2.07% to close at $51.34 as 5.52 Million shares changed hands in regular trading session. The firm is going down from its 52 week high price of -1.50%. Southwest Air (LUV) named Thomas M. Nealon as President and names Michael G. Van de Ven Chief Operating Officer effective immediately. Nealon re-joined Southwest a year ago as Executive Vice President Strategy & Innovation. He had previously been a member of Southwest’s Board of Directors from 2010-2015 and also served as Southwest’s Chief Information Officer from 2002-2006.Van de Ven is a 23-year veteran of Southwest and has served in various leadership positions in Internal Audit, Finance, and, for the last 11 years, Operations.
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LaSalle Hotel Properties (NYSE:LHO) inched up 0.23% to finish at $30.42 in following trading session. LaSalle Hotel (LHO) refinanced $1.05 billion of debt. The firm reduces the interest cost on its $750.0 million revolver and $300.0 million five-year term loan and extending their maturities to January 2022 (including the exercise of extension options pursuant to certain conditions).
The revolver and term loan include accordion features which, subject to certain conditions, entitle the Company to request additional lender commitments, allowing for total commitments up to $1.25 billion for the revolver and $500.0 million for the term loan.The interest rate for the new revolver is based on a pricing grid with a range of 150 to 225 basis points over LIBOR, based on the Company’s leverage ratio and is currently LIBOR plus 150 basis points, or 2.26 percent. The corporation has return on equity of 9.00% and while returns on assets was calculated 5.40% with -0.39% year to date performance. The annual sales growth for the past five year was 15.20%.
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