Natural gas–weighted stocks
- Gulfport Energy Corporation (GPOR): 82.9%
- EQT Corporation (EQT): 71.8%
- Chesapeake Energy Corporation (CHK): 66.3%
- Antero Resources Corporation (AR): 58.6%
- Range Resources Corporation (RRC): 41.7%
The same set of natural gas–weighted stocks had the highest correlations with natural gas prices among our list in Part 3. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) contains these energy stocks. These energy stocks operate with at least 60% production mixes in natural gas.
The natural gas–weighted stocks that could be less affected by oil’s upside based on the trailing week’s correlations with US crude oil futures are:
- Cabot Oil & Gas (COG): 9.4%
- WPX Energy (WPX): 0.4%
The same set of natural gas–weighted stocks also had the least or the most negative correlations with natural gas prices on our list.
Natural gas supplies are linked to US crude oil prices. The entire energy sector tends to track oil prices. As a result, most of these natural gas–weighted stocks also followed oil prices in the trailing week based on their correlations.
In this article, we'll look at the moving average indicators of a select group of miners: First Majestic Silver, Goldcorp, Randgold Resources, and IAMGOLD.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Kimberly-Clark (KMB) stock has risen 20.5% this year, boosted by the company’s better-than-expected sales and earnings during its last reported quarter. However, its stock could stop climbing. Here's why.