Nicholas Chapman

World Fuel Services (INT) increased from last week’s close of $21.80 to $22.35 on June 14—an increase of more than 2.5%.

For the second quarter, EOG Resources expects total production in the range of 670.3–706.2 Mboepd (thousand barrels of oil equivalent per day).

For 1Q16, Denbury Resources (DNR) reported an adjusted EBITDA of ~$105 million with an EBITDA margin of ~40%. Its EBITDA margin is only ~20% lower.

For 1Q18, ConocoPhillips (COP) reported revenues of ~$9.0 billion—higher than analysts’ consensus of ~$8.8 billion.

Along with its 4Q15 earnings, Murphy Oil announced the divestiture of its Montney midstream assets located in Canada. The transaction includes the sale of existing infrastructure capable of processing up to 320 million cubic feet per day.

For 3Q16, Range Resources reported an adjusted loss per share of $0.06—$0.09 better than the Wall Street analyst consensus estimate of $0.15 loss per share.

Suncor Energy (SU) is the only losing stock in the current week from the integrated energy sector. It fell from last week’s close of $34.67 to $34.52 on October 11, 2017.

In 4Q17, 25 hedge funds were buyers of Southwestern Energy (SWN) stock, and 42 hedge funds were sellers.

For 3Q16, Occidental Petroleum expects its total production from ongoing operations to be in the range of 600–605 Mboe per day.

Energy stocks are rising this week. The Energy Select Sector SPDR ETF (XLE) has risen 1.2% from June 18–20.

Diamondback Energy’s stock price saw uptrend from October 2012 to June 2014. When NYMEX WTI crude oil started falling in June 2014, FANG’s stock peaked.

In 2Q17, Marathon Oil’s (MRO) reported a lifting cost of ~$6.75 per boe (barrel of oil equivalent), which is ~28.0% lower than its 2Q16 lifting cost of ~$10.88.

Although crude oil prices have rallied ~78% from their lows in February 2016, crude is still trading ~57% lower than its high two years ago.

CNX Resources (CNX) is set to report its 4Q17 and 2017 earnings on February 6, 2018, before the market opens. CNX is expected to report 1,000% higher profits YoY than 4Q16.

According to Occidental Petroleum’s 3Q15 form 10Q filing, changes in energy prices affected its quarterly earnings by $30 million in crude oil.

As of July 25, Southwestern Energy (SWN) had an implied volatility of ~50.0%, which is lower when compared with its implied volatility of ~50.9% at the end of the second quarter of 2018.

In Q1 2018, 265 funds were “buyers” of Marathon Oil (MRO) stock, either creating new positions or adding to existing positions.

On July 11, ConocoPhillips (COP) announced a dividend of $0.285 per share on its common stock.

ConocoPhillips’s stock performance As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price rose ~2% in the week ended March 9, while crude oil (UWT) (SCO) (DWT) rose ~1%, suggesting that COP stock followed crude oil. In this part, we’ll try to quantify this correlation between COP stock and crude oil. ConocoPhillips’s stock […]

Sequentially, Southwestern Energy’s 4Q17 production is ~3% higher compared to its production of 232 Bcfe in 3Q17.

As of March 1, 2018, a total of 34 analysts have made recommendations on EOG Resources (EOG) stock, according to Reuters.

In 2017, Phillips 66 (PSX) was the fifth-best-performing energy stock of the Energy Select Sector SPDR ETF (XLE).

In this series, we’ll look at the best-performing and worst-performing stocks of the Energy Select Sector SPDR ETF (XLE) and analyze the earnings and developments behind the movements.

With the mixed performance from energy commodities, energy stocks are down this week. As of January 17, the Energy Select Sector SPDR Fund (XLE) has fallen ~0.4% this week.

For 9M17 (the first nine months of 2017), Gulfport Energy (GPOR) had normalized FCF (free cash flow) of -336%, the fourth lowest among the upstream producers we have been tracking.

As we saw in part one of this series, EQT (EQT) had normalized free cash flows of ~5% in the first nine months of 2017, the fifth highest among crude oil (USO) and natural gas (UNG) (UGAZ) producers we have been tracking.

Free cash flow (or FCF) is an important metric for the crude oil (USO) and natural gas (UNG) production (or upstream) sector.

In 9M17, KOS’s production increased ~107.0% to ~7.8 million barrels when compared with 9M16.

As of November 23, 2017, four of the 14 analysts covering Delek US Holdings (DK) stock gave it a “strong buy” recommendation, and five gave it a “buy.”

With the mixed performance from natural gas and crude oil, the energy sector is showing a modest increase this week.

On a year-over-year basis, OXY’s 3Q17 operating cash flow was ~65% higher than the ~$650 million it generated in 3Q16.

Wall Street analysts expect Pioneer Natural Resources (PXD) to report year-over-year higher cash flow of ~$491 million in 3Q17 compared to ~$441 million in 3Q16.

For 3Q17, Wall Street analysts expect Occidental Petroleum (OXY) to report revenues of ~$3.1 billion.

W&T Offshore (WTI) stock rose ~7% last week (ended September 29), while crude oil and the SPDR S&P 500 ETF (SPY) rose ~2% and ~0.7%, respectively.

For the week ending September 29, 2017, ConocoPhillips stock had a correlation of ~18% with crude oil (USO) (SCO).

According to Marathon Oil’s (MRO) financials, MRO reported total (non-cash and cash) gains of ~$43.0 million on its 2Q17 crude oil and natural gas derivatives.

In 2Q17, Marathon Oil’s (MRO) production mix from continuing operations was ~47.0% crude oil and condensate, ~15.0% natural gas liquids, and ~38.0% natural gas.

In the week starting September 11, Basic Energy Services (BAS) fell from $15.66 to $14.98—a decrease of ~4%.

Since 1Q16, crude oil (USO)(SCO) prices have risen from lows of $26.05 per barrel to $49.30 per barrel as of September 13.

Short interest in COP On August 14, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~33.4 million, while its average daily volume was ~8.02 million. This means the short interest ratio for COP’s stock was ~4.6x. COP’s average daily volume is calculated for the short interest reporting period from August 1, 2017, […]

As of August 14, Southwestern Energy’s total shares shorted (or short interest) stood at ~45.89 million, while its average daily volume is ~17.44 million.

As of August 14, 2017, Marathon Oil’s total shares shorted (or short interest) stood at ~36.65 million, while its average daily volume is ~15.94 million.

Year-to-date, Encana’s (ECA) stock has fallen ~19% to $9.53. The stock is trading below its 50-week and 200-week moving averages.

As of July 31, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) was ~31.6 million, and its average daily volume was ~8.0 million.

Denbury Resources’ short interest ratio has a 52-week high of ~12.3x and a 52-week low of 5.8x.

As of July 14, 2017, Southwestern Energy’s (SWN) total shares shorted (or short interest) stood at ~49.5 million, whereas its average daily volume was ~18.4 million.

As of July 14, 2017, Cobalt International Energy’s (CIE) total shares shorted (or short interest) was 4.37 million, whereas its average daily volume is 1.03 million.

On July 14, 2017, Occidental Petroleum’s (OXY) total shares shorted (or short interest) stood at ~10.9 million, and its average daily volume was ~4.8 million.

For 2Q17, Marathon Oil (MRO) reported revenues of ~$1.06 billion, which was higher than Wall Street analysts’ consensus for revenues of ~$1.02 billion.

As of July 14, 2017, Devon Energy’s (DVN) short interest stood at ~11.31 million, while its average daily volume is ~6.21 million.