On March 24, Schlumberger (SLB) and Weatherford International (WFT) announced that they would form a joint venture (or JV).
Analysts’ consensus price target for Duke Energy (DUK) is $80.89. Its current market price is $82.99. It implies a fall of nearly 2.5% over the next year.
With investors worried about President Trump’s ability to push proposed reforms, broader markets might become volatile in the near future.
Natural gas’s (UNG) (BOIL) (FCG) (GASL) implied volatility was 35.1% on March 24, 2017. That’s 4.5% below its 15-day average.
Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 28.3% on March 24, 2017. That was 1.0% below its 15-day average.
Last week, US crude oil May futures fell 2.7%, and natural gas April futures rose 4.3%. The broad market S&P 500 Index fell 1.3%.
US initial jobless claims were at 261,000 for the week ended March 18, 2017, according to the United States Department of Labor report on March 23, 2017.
WTI crude oil May futures closed at $47.97 per barrel on Friday, March 24, 2017. It was a 0.60% rise from the previous trading session.
On March 24, 92% of the analysts tracking Halliburton rated it as a “buy,” ~5% rated it as a “hold,” and 3% rated it as a “sell.”
Haliburton stock will likely close between $51.11 and $47.71 in the next seven days. Halliburton’s stock price was $49.41 on March 24, 2017.
In a conference call on March 24, 2017, Halliburton’s (HAL) management said that the company could miss Wall Street analysts’ earnings estimate in 1Q17.
Brent crude oil prices could fall as low as $40 per barrel by the end of 2017 if OPEC doesn’t extend major producers’ production cut deal in 2H17.
Baker Hughes reported that the US crude oil rig count rose by 21 to 652 rigs from March 17–24. The oil rig count has risen 35 times in the last 38 weeks.
Market surveys estimate that Cushing crude oil inventories rose from March 17–24. A rise in oil inventories at Cushing could pressure US crude oil prices.
WTI (West Texas Intermediate) crude oil (RYE) (IXC) (IEZ) futures for May delivery are near a four-month low as of March 27, 2017.
The energy sector contributed to ~6.5% of the S&P 500 on March 24, 2017. Oil and gas producers’ earnings depend on crude oil and natural gas prices.
The US Dollar Index fell 0.1% to 99.4 on March 24, 2017. The dollar hit a high of 103.8 on January 3, 2017—the highest level in 14 years.
WTI (West Texas Intermediate) crude oil (ERY) (ERX) (IXC) futures contracts for May delivery rose 0.6% and closed at $47.97 per barrel on March 24, 2017.
Exelon (EXC) has a price target of $38.75, as compared to its current market price of $35.96, which implies an estimated upside of ~8% over the next year.
Although Exelon (EXC) has consistently paid dividends for the past several years, its dividend yield has declined significantly over the past five years.