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The Indebted 5: Upstream Energy’s Most Leveraged Companies

PART:
1 2 3 4 5 6
Part 6
The Indebted 5: Upstream Energy’s Most Leveraged Companies PART 6 OF 6

30-Day Trading Ranges for JONE, HES, SN, DNR, and AREX

Implied volatility

In this part of our series, we’ll analyze the implied volatility–based trading ranges for the five oil and gas producers with the highest debt loads, as we’ve discussed in this series.

30-Day Trading Ranges for JONE, HES, SN, DNR, and AREX

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Jones Energy

As of September 13, Jones Energy (JONE) had an implied volatility of ~94.71%. Based on JONE’s implied volatility of ~94.71%, assuming a normal distribution of prices, 365 days in a year, and standard deviation of one, its stock is expected to close between $1.55 and $0.89 in the next 30 calendar days. JONE’s stock will stay in this range 68% of the time.

Hess Corporation

As of September 13, Hess Corporation (HES) had the lowest implied volatility of ~29.07%, which means HES stock is expected to close between $45.97 and $38.89 in the next 30 calendar days. On September 13, HES’s stock price closed at $42.13.

Sanchez Energy

As of September 13, Sanchez Energy’s (SN) had implied volatility of ~66.36%, which means SN stock is expected to close between $5.37 and $3.65 in the next 30 calendar days. On September 13, SN’s stock price closed at $4.51.

Denbury Resources

As of September 13, Denbury Resources (DNR) had implied volatility of ~79.70%, which means DNR stock is expected to close between $1.39 and $0.87 in the next 30 calendar days. On September 13, SN’s stock price closed at $1.13.

Approach Resources

As of September 13, Approach Resources (AREX) had implied volatility of ~75.20%, which means AREX stock is expected to close between $3.32 and $2.14 in the next 30 calendar days. On September 13, SN’s stock price closed at $2.73.

Based on the inputs used in the calculation of the price range, there’s a 68% chance that the stocks will close in the given range for the given period.

To learn more about the energy sector, see Market Realist’s series What Happened in the Energy Sector Last Week?

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