In this part, we’ll look at the top percentage gainers from the oil and gas production, or upstream, sector in the US for the current week starting March 5, 2018. To compile the list of top upstream gainers, we have used only oil and gas producers with market capitalizations of greater than $100 million and average trading volumes last week greater than 100,000 shares.
Bill Barrett rising this week
In the week starting March 5, 2018, Bill Barrett (BBG) increased from last week’s close of $4.53 to $4.76 on March 6, an increase of ~5%. Bill Barrett reported 4Q17 earnings on February 27, 2018, after the market closed. In 4Q17, Bill Barrett reported revenues of ~$83 million, slightly lower than the Wall Street analyst consensus of ~$84 million. However, BBG beat EPS estimates by $0.05 in 4Q17. BBG reported an adjusted profit of $0.01 per share, whereas the Wall Street analyst consensus was for the loss of $0.04 per share.
After its 4Q17 earnings, Bill Barrett fell sharply by ~16% in two days. However, last week, BBG found support at its 200-day moving average, and the stock has been on the rise since then. As of March 6, BBG is trading at $4.76, whereas its 50-day and 200-day moving averages stand at $5.13 and $4.30, respectively.
Riding on the industry-wide bullish sentiment: CHK, PE, EXXI, CPE
Other upstream stocks on the list of top gainers this week are Chesapeake Energy (CHK), Parsley Energy (PE), Energy XXI Gulf Coast (EXXI), and Callon Petroleum (CPE). These stocks rose ~5.1%, ~5.0%, ~4.8%, and ~4.6%, respectively.
On February 22, 2018, Chesapeake Energy (CHK) announced its 4Q17 earnings. In 4Q17, Chesapeake Energy reported revenues of ~$2.6 billion, higher than the Wall Street analyst consensus of ~$2.2 billion. Even, CHK beat the EPS estimates by $0.06 in 4Q17. CHK reported an adjusted profit of $0.30 per share, whereas the Wall Street analyst consensus was for profit of $0.24 per share.
These stocks also managed to beat the SPDR S&P Oil and Gas Exploration & Production ETF (XOP), which represents an index of stocks across the energy industry. XOP is up ~0.9% in the current week.
Next, we’ll look at the upstream stocks that are trending down in the current week.