EM PM, Ecstrat

Emad Mostaque

EM PM

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Thematic (Sector/Industry)

<p>There is a high probability of a nuclear deal being agreed between the P5 + 1 nations and Iran next Friday, 20th March. This may be the precursor for energy stocks to recouple to downside and for spending cuts to spread from capex to dividends for majors.</p>

There is a high probability of a nuclear deal being agreed between the P5 + 1 nations and Iran next Friday, 20th March. This may be the precursor for energy stocks to recouple to downside and for spending cuts to spread from capex to dividends for majors.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>SM Energy Company recently reported its first quarter 2025 financial and operational results.</li><li>The company provided insights into its operations, production guidance, and capital allocation strategies for the current year while addressing how they might adapt to changing market conditions.</li><li>SM Energy anticipates significant production growth in 2025, projecting a 30% increase in oil production and a 20% rise in total production.</li></ul>

SM Energy Company recently reported its first quarter 2025 financial and operational results.The company provided insights into its operations, production guidance, and capital allocation strategies for the current year while addressing how they might adapt to changing market conditions.SM Energy anticipates significant production growth in 2025, projecting a 30% increase in oil production and a 20% rise in total production.

SM Energy: Expansion in the Uinta Basin & Key Growth Levers!

<ul><li>SM Energy Company’s latest earnings call highlights several critical aspects related to its 2024 financial performance and plans for 2025.</li><li>The company presented both opportunities and challenges that its investors might consider for devising an informed investment thesis.</li><li>On the positive side, SM Energy forecasts a 40% increase in free cash flow for 2025, supported by a 30% growth in oil production.</li></ul>

SM Energy Company’s latest earnings call highlights several critical aspects related to its 2024 financial performance and plans for 2025.The company presented both opportunities and challenges that its investors might consider for devising an informed investment thesis.On the positive side, SM Energy forecasts a 40% increase in free cash flow for 2025, supported by a 30% growth in oil production.

SM Energy: Can It Capitalize On The Exploration and Development Opportunities In The Uinta Basin?

<ul><li>SM Energy, an independent energy company engaged in exploration and production, reported its third quarter results for 2024, marked by significant strategic developments and operational highlights.</li><li>The company's performance this quarter showcases several aspects that are worth examining for investors.</li><li>On the positive side, SM Energy highlighted operational success and welcomed a strategic expansion with the acquisition of assets in the Uinta Basin.</li></ul>

SM Energy, an independent energy company engaged in exploration and production, reported its third quarter results for 2024, marked by significant strategic developments and operational highlights.The company's performance this quarter showcases several aspects that are worth examining for investors.On the positive side, SM Energy highlighted operational success and welcomed a strategic expansion with the acquisition of assets in the Uinta Basin.

SM Energy’s Strategic Capital Moves: Will Their Uinta Basin Bet Pay Off Big? - Major Drivers

<ul><li>SM Energy Company delivered a mixed set of results for the second quarter of 2024, showcasing both strengths and some areas that invite caution.</li><li>Below is a holistic investment thesis and summary based on the company's recent earnings call.</li><li>Starting with the positives, SM Energy posted significant production growth, particularly in the Permian region.</li></ul>

SM Energy Company delivered a mixed set of results for the second quarter of 2024, showcasing both strengths and some areas that invite caution.Below is a holistic investment thesis and summary based on the company's recent earnings call.Starting with the positives, SM Energy posted significant production growth, particularly in the Permian region.

SM Energy Company: Initiation Of Coverage - A Tale Of Strategic Capital Allocation And Optimization Post-Uinta Basin Acquisition! - Major Drivers

United States

SM Energy Company is an independent energy company that explores for and produces natural gas and crude oil.  The Company's operations are focused on The ArkLaTex, Gulf Coast, Mid-Continent, Rocky Mountains, and Permian Basin regions.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sm Energy Co (SM US)

Will an Iran deal crack oil?

There is a high probability of a nuclear deal being agreed between the P5 + 1 nations and Iran next Friday, 20th March. This may be the precursor...

Emad Mostaque

SM Energy: Expansion in the Uinta Basin & Key Growth Levers!

SM Energy Company recently reported its first quarter 2025 financial and operational results. The company provided insights into its operations,...

Baptista Research

SM Energy: Can It Capitalize On The Exploration and Development Opportunities In The Uinta Basin?

SM Energy Company’s latest earnings call highlights several critical aspects related to its 2024 financial performance and plans for 2025. The...

Baptista Research

SM Energy’s Strategic Capital Moves: Will Their Uinta Basin Bet Pay Off Big? - Major Drivers

SM Energy, an independent energy company engaged in exploration and production, reported its third quarter results for 2024, marked by significant...

Baptista Research

SM Energy Company: Initiation Of Coverage - A Tale Of Strategic Capital Allocation And Optimization Post-Uinta Basin Acquisition! - Major Drivers

SM Energy Company delivered a mixed set of results for the second quarter of 2024, showcasing both strengths and some areas that invite...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)