RECENT Energy and Power RESEARCH
On October 12, 2017, Southern Company stock was trading ~3% above its 50-day and 200-day moving average levels.
Peabody Energy (BTU) is expected to post its 3Q17 earnings results on October 25, 2017. In this series, we’ll look at analysts’ estimates and the factors that led them to arrive at those expectations.
On October 12, 2017, US crude oil (USO) (DBO) (USL) active futures fell 1.4% and settled at $50.6 per barrel.
November WTI (or West Texas Intermediate) crude oil (USO)(UCO) futures contracts fell 1.4% and closed at $50.60 per barrel on October 12.
ConocoPhillips (COP) is set to report its 3Q17 earnings on October 26, 2017, before the market opens.
Seadrill (SDRL) filed for Chapter 11 bankruptcy protection in September. The company had applied for a “first-day” motion, and on September 13, it got approval from the court.
Whiting Petroleum will release its 3Q17 earnings on October 25 after the market closes. Analysts’ consensus revenue estimate for 3Q17 is $328.5 million.
In 2Q17, Marathon Petroleum (MPC) posted revenues of $18.4 billion, which missed the Wall Street analysts’ estimates.
In this series, we’ll look at the top five upstream stocks by production based on 2Q17 numbers.
EQT Corporation (EQT) is scheduled to release its 3Q17 earnings on October 26. Its 3Q17 revenue estimates stand at ~$676.9 million.
Wall Street analysts expect Weatherford to cut its adjusted loss in 3Q17 from the adjusted loss of $0.28 per share in 2Q17.
November US crude oil (UWT) (OIL) futures contracts rose 0.75% and closed at $51.3 per barrel on October 11, 2017.
So far this week, crude oil prices are leading the rise in energy commodities. Prices have risen from last week’s close of $49.29 per barrel to $51.60 per barrel on October 11, 2017.
On October 11, 2017, natural gas (UNG) (BOIL) (FCG) November futures were at $2.89 per MMBtu (million British thermal units), a fall of 0.1% from the last trading session.
In the EIA’s natural gas inventory report for the week ended September 29, the natural gas inventory came in at 3,508 Bcf (billion cubic feet). This reading was higher than 3,466 Bcf in the previous week.
SCANA Corporation (SCG) stock seemed to have taken a breather from its free fall in the last few trading sessions. In the last one-month period, SCG stock has corrected more than 17%.
Crude oil prices have risen from last week’s close of $49.29 per barrel on October 6 to $51.09 per barrel on October 10—a rise of almost 4% so far this week.
Valero Energy (VLO) is expected to publish its 3Q17 results on October 26. Before we proceed with the 3Q17 estimates, let’s recap Valero’s 2Q17 performance versus estimates.
November WTI (West Texas Intermediate) crude oil futures contracts rose 2.7% and closed at $50.92 per barrel on Tuesday, October 10, 2017.
In 3Q17, Wall Street analysts expect an $0.08 adjusted loss per share for National Oilwell Varco (NOV). This outlook indicates that they expect NOV to cut its adjusted loss compared to its 2Q17 adjusted loss of $0.14 per share.