Canadian oil and gas companies such as Imperial Oil (IMO), Suncor Energy (SU), Advantage Oil & Gas (AAV), and Baytex Energy (BTE) were trading at an average of 13% below their respective 100-day moving averages.
Imperial Oil trades 2% below its respective 100-day moving average. Suncor Energy is 8% below its 100-day moving average. Advantage Oil & Gas and Baytex Energy are 1% and 41% below their respective 100-day moving averages.
Advantage Oil & Gas’ 52-week highs are around $6.59. Now, the stock is at $5.26. It’s 20.18% below its 52-week high. Since February, the stock is trading in a narrow range of $5–$5.50. Since November 2013, the stock struggled to meet its 100-day moving average. On January 19, it reached a 52-week low of $4.17. Since then, the stock has been in a continuous uptrend.
Wall Street analysts’ consensus estimates indicate a 32.2% upside for these Canadian oil and gas companies—compared to the 3.4% upside of US-based (SPY) integrated oil and gas companies such as ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY). Imperial Oil could be flat for the next 12 months. Suncor Energy could rise by 13.8%. Advantage Oil & Gas and Baytex Energy could rise by 28% and 87% in the next 12 months.
The above table shows the moving averages and analysts’ estimates for these oil and gas companies.
In the next part, we’ll discuss the moving averages and analysts’ estimates for South American oil and gas companies.