RECENT Energy and Power RESEARCH
In 3Q17, analysts expect adjusted EPS of $0.37 for Halliburton (HAL). Wall Street analysts expect Halliburton’s adjusted earnings to improve 37% in 3Q17.
Southwestern Energy (SWN) is set to report its 3Q17 earnings on October 26, 2017, after the market closes. For 3Q17, the current consensus net income estimate for SWN is ~$78 million.
On October 5, 2017, US crude oil November futures closed at $50.79 per barrel—a jump of 1.6% from its last closing price.
In 3Q17, Andeavor (ANDV) stock rose 10.2%, outperforming the market indicator, the SPDR S&P 500 ETF (SPY). The ETF rose by 3.9% in the same period.
US utility stocks were weak recently due to proposed tax reforms and the increased possibility of another interest rate hike this year.
In 3Q17, analysts expect Baker Hughes to report adjusted earnings per share of ~$0.14.
On October 4, 2017, natural gas (UNG) November futures closed at $2.94 per MMBtu (million British thermal units), a rise of 1.6% from the last trading session.
So far this week (starting October 2, 2017), crude oil is leading the decline among energy commodities, having fallen 3% as of Wednesday, October 4.
Oil prices are at a two-week low. The rise in Cushing crude oil inventories by 1.6 MMbbls on September 22–29, 2017, weighed on crude oil prices.
On October 3, 2017, US crude oil November futures fell 0.3% and closed at $50.42 per barrel. Between September 26 and October 3, 2017, US crude oil (USL) November futures fell 2.8%.
For the week ended September 22, natural gas inventory came in at 3,466 Bcf (billion cubic feet), which was higher than 3,408 Bcf one week earlier.
November WTI crude oil futures contracts fell 0.3% to $50.4 per barrel on October 3, 2017. Brent crude oil futures contracts fell 0.2% to $56 per barrel.
For the week beginning October 2, 2017, natural gas prices are leading the decline in energy commodities.
Things have been getting uglier for SCANA (SCG) since it abandoned the V.C. Summer nuclear power plant a few months ago. Its stock is racing to the bottom.
This series reviews the 3Q17 market performance of four leading integrated energy stocks—ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP). We’ll also examine company-specific news that impacted these stocks.
Last week (ended September 29, 2017), W&T Offshore’s (WTI) stock price rose more than 7%, from $2.85 to $3.05.
President Trump unveiled his administration’s much-awaited corporate tax reform proposals last week. US utility stocks reacted negatively to the news, falling 1.3%.
On October 2, 2017, US crude oil (USO) (DBO) (USL) November futures closed at $50.58 per barrel, 2.1% down from the last trading session.
In the week ended September 29, 2017, Whiting Petroleum (WLL) stock rose 7%, but on a YTD (year-to-date) basis, WLL stock has fallen ~57%.
Recovery in crude oil prices (DBO) (UCO) has been driving CHK stock higher. In the week ended September 29, 2017, crude oil rose 2%.