Between November 9 and November 16, 2017, the S&P 500 Index (SPY) had a correlation of 42.5% with US crude oil (OIIL) active futures.
On November 16, 2017, US crude oil (USO) (USL) January futures fell 0.3% and closed at $55.35 per barrel.
Analysts expect Seadrill Partners’ EBITDA to fall 20% in 3Q17. They estimate 3Q17 EBITDA of $121 million, compared to $252 million in 2Q17.
Wall Street analysts estimate that Seadrill Partners’ (SDLP) 3Q17 revenue will be $236 million, a 12% fall from $267.9 million in 2Q17.
Seadrill Partners (SDLP) is scheduled to release its 3Q17 results on Tuesday, November 21, 2017. In the last three months, SDLP stock has risen 41%.
December natural gas (GASL) (BOIL) futures were below their 50-day and 100-day moving averages of $3.12 per MMBtu and $3.16 per MMBtu on November 16, 2017.
US natural gas production rose by 0.3 Bcf (billion cubic feet) per day to 75.9 Bcf per day on November 9–15, 2017. Production rose 0.4% week-over-week.
Baker Hughes will publish its US crude oil and natural gas rig count report on November 17, 2017. The rigs were flat at 169 on November 3–10, 2017.
The EIA reported that US gas inventories fell by 18 Bcf (billion cubic feet) to 3,772 Bcf on November 3–10, 2017.
The weather is expected to be colder than normal next week. High demand could have a bullish impact on natural gas prices.
December US natural gas (UNG) (UGAZ) futures contracts trading in NYMEX rose 0.97% and settled at $3.05 per MMBtu on November 16, 2017.
On November 17, crude oil opened the day on a stronger note and traded with strength in the early hours at elevated prices.
On November 8–15, 2017, natural gas (UNG) (FCG) active futures had a correlation of 63.9% with US crude oil active futures.
On November 15, 2017, natural gas (UNG) (BOIL) December 2017 futures traded at a discount of ~$0.1 to December 2018 futures.
In the week ending November 3, 2017, natural gas inventories rose by 15 Bcf to 3,790 Bcf. The rise was in line with the markets’ expected rise.
In the week ending November 10, 2017, the oil rig count rose by nine—the largest rise since June 30, 2017. Strong oil prices spurred the rise.
On November 15, natural gas December futures fell 0.7% and closed at $3.10 per MMBtu. Natural gas prices were weak despite the cooler weather forecast.
At present, SWK is trading at a marginal discount to its peer Dover.
Of the 23 analysts that cover Stanley Black & Decker (SWK), 65% have recommended the stock as a “buy,” and 35% of analysts have recommended the stock as a “hold.”
As of November 15, 2017, SWK’s current dividend yield stands at 1.5%, the lowest dividend yield in the past six years.