More From Nicholas Chapman
What Analysts Are Saying about Pioneer Natural Resources
Currently, ~81% of Wall Street analysts rate Pioneer Natural Resources (PXD) as a “buy” and ~14% of analysts rate it as a “hold.” Around 5% rate the stock a “sell.”
What’s Analysts’ Current Read on ConocoPhillips?
On July 10, 2017, ~71% of the 24 analysts covering ConocoPhillips (COP) had “strong buy” or “buy” ratings on its stock.
Which Refining and Marketing Energy Stocks Are Rising This Week?
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%.
Will California Resources Report Positive Free Cash Flow in 1Q18?
Wall Street analysts expect California Resources (CRC) to report a year-over-year fall of ~32% in its operating cash flow.
ConocoPhillips’s 1Q17 Crude Oil Price Underperforms WTI
ConocoPhillips’s 1Q17 crude oil realized prices In 1Q17, excluding the effect of hedges, ConocoPhillips’s average realized crude oil price in the Lower 48 region was $45.89 per barrel, up ~70% from its price of $27.04 per barrel in 1Q16. Sequentially, ConocoPhillips’s 1Q17 price is ~4% higher than it was in 4Q16. Crude oil prices versus […]
Understanding EOG Resources’ Q2 2018 Production Guidance
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).
Will Pioneer Natural Resources Report Higher Profits in 3Q17?
Pioneer Natural Resources (PXD) is set to report its 3Q17 earnings on November 1, 2017, after the market closes.
Analyzing Denbury Resources’ 1Q16 Earnings Call
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.
Why Did ConocoPhillips’s Revenue Grow in 1Q18?
For 1Q18, ConocoPhillips (COP) reported revenues of ~$9.0 billion—higher than analysts’ consensus of ~$8.8 billion.
Murphy Oil’s 4Q15 Operational Performance, Management Strategies
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.
QEP Resources’ Free Cash Flow Deteriorated in 2017
For fiscal 2017, QEP Resources reported a negative FCF of -$1.4 billion, which is much higher than its negative FCF of -$544 million in 2016.
Inside Range Resources’ 3Q16 Earnings
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.
Why ConocoPhillips Sold Its Barnett Assets
ConocoPhillips’s (COP) Barnett assets have a relatively small contribution to its overall production. In 2016, COP’s Barnett assets produced only 11 MBoepd.
Why Has Denbury Resources Been Underperforming Crude Oil?
In the last month, crude oil producer Denbury Resources (DNR) has seen its stock price underperform crude oil (USO) and natural gas (UNG) prices.
Are Crude Oil and Natural Gas Stocks Finally Bottoming?
Looking back, 2015 was a brutal year for all of the commodities. Energy commodities weren’t an exception. Crude oil (USO) fell by ~30% in 2015.
What’s Devon Energy’s Implied Volatility?
As of August 2, 2017, Devon Energy (DVN) had an implied volatility of ~40.7%, which is lower than its implied volatility of ~33.6% on July 25, 2017.
Southwestern Energy Didn’t Follow Natural Gas to the Upside
Southwestern Energy’s (SWN) stock price fell ~2.7% for the week ending January 26, 2018. Natural gas (UGAZ) (DGAZ) (UNG) prices increased ~10.0%.
Suncor Energy: The Only Integrated Energy Loser This Week
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.
How Does Devon Energy’s Relative Valuation Compare to Its Peers’?
Devon Energy (DVN) has a forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) ratio of ~13x.
Could Southwestern Energy’s Profit Streak Continue 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.
Is California Resources Rising due to Short Covering?
On December 21, 2016, California Resources’ total shares shorted, also known as its short interest, stood at ~13.7 million.
Southwestern Energy Stock Movement versus Natural Gas
Since March 2016, natural gas prices have risen ~83%, but Southwestern Energy’s stock price has risen only ~48% since its February 2016 low.
Which Energy Stocks Are Leading the Rise in the Energy Sector?
Stocks that are leading the rise in the Energy Select Sector SPDR Fund this week include Chesapeake Energy, Andeavor, and FMC Technologies.
Range Resources’ Valuation: How Does It Compare with Peers’?
In 4Q15, Range Resources was trading at higher price-to-book and price-to-sales multiples than peers.
How Wall Street Analysts Rate CNX Resources
The median target price on CNX Resources stock is $20.50, which is ~21% higher than its July 26 closing price of $17.01.
Are Hedge Funds Accumulating Southwestern Energy Stock?
In 4Q17, 25 hedge funds were buyers of Southwestern Energy (SWN) stock, and 42 hedge funds were sellers.
Did Gulfport Energy Generate Positive Free Cash Flow in 2Q17?
For 2Q17, Gulfport Energy (GPOR) reported operating cash flow of ~$144 million, which is ~3% lower than Wall Street analysts’ expectation for ~$149 million in cash flows.
Will Range Resources’ Debt Burden Increase after the Merger?
According to Range Resources’ presentation on its merger with Memorial Resource Development, it’s expecting an ~108% boost to its 2016 estimated cash flow.
These Stocks Were the Biggest Oilfield Services Losers Last Week
In the week ending September 8, 2017, Flotek Industries (FTK) led the losing stocks from the oilfield services sector.
What Does Denbury’s Implied Volatility Mean for Its Price?
On November 7, 2016, Denbury Resources (DNR) had an implied volatility of ~82.2%, ~39.2% lower than its 260-day historical price volatility of ~135.2%.
Did Occidental Petroleum Set a High Bar for 3Q16 Production?
For 3Q16, Occidental Petroleum expects its total production from ongoing operations to be in the range of 600–605 Mboe per day.
How ConocoPhillips Turned Losses into Profits in 4Q17
ConocoPhillips (COP) announced its 4Q17 earnings on February 1, 2018, before the market opened. It had better-than-expected profits of ~$540 million, beating analyst expectations.
Southwestern Energy’s 2Q17 Revenue Expectations
For 2Q17, analysts expect Southwestern Energy to report revenues of ~$814 million. On a YoY basis, its 2Q17 revenue expectations are ~56% higher.
ConocoPhillips Stock Outperforms Crude Oil
The price of natural gas (UNG) rose ~5% last week. It rose from $2.92 per mmBtu (million British thermal units) to $3.07 per mmBtu. ConocoPhillips’s production volume mix contains ~40% natural gas.
Can Devon Energy Report Higher Profits in 2Q17?
Devon Energy (DVN) is set to report its 2Q17 earnings on August 1, 2017, after the market closes. The current consensus net income estimate for 2Q17 is $169.0 million.
Encana Stock Reacts to Its 1Q18 Earnings
In 1Q18, Encana reported adjusted revenues of ~$1.31 billion—better than analysts’ consensus of ~$1.22 billion.
Introducing Denbury’s Big Losses in 4Q16
Denbury reported a better-than-expected loss of ~$6.5 million, as analysts were expecting an even bigger loss of ~$11.4 million.
What Analysts Are Saying Now about Southwestern Energy
As of May 2, 40 analysts have given recommendations on SWN, including five “strong buys,” five “buys,” 27 “holds,” two “sells,” and one “strong sell.”
Southwestern Energy Stock: Will Its Downtrend Reverse?
As of November 15, 2017, Southwestern Energy’s (SWN) short interest stood at ~41.70 million, while its average daily volume is ~6.13 million.
How Energy Commodities Performed from June 18–20
Energy stocks are rising this week. The Energy Select Sector SPDR ETF (XLE) has risen 1.2% from June 18–20.
What Devon Energy’s Implied Volatility Could Say about Its Stock Price
On May 18, 2017, Devon Energy (DVN) had an implied volatility of ~33.9, which is ~14.9% below its 260-trading day historical price volatility of ~39.9%.
What Are Wall Street’s Targets for DK, PBF, RDS.A, and CVE?
Currently, ~50% of Wall Street analysts rate Cenovus Energy (CVE) a “strong buy” or “buy,” and ~43% rate it a “hold.”
Occidental Petroleum’s 4Q17 Pre-Earnings Update
Occidental Petroleum (OXY) is set to report its 4Q17 and fiscal 2017 earnings on February 13, 2018. For 4Q17, OXY’s current consensus net income estimate is ~$275.0 million.
California Resources: Why No Positive Cash Flow in 2Q16?
For 2Q16, California Resources’ (CRC) total operating revenue (excluding derivative losses) was ~$435 million or ~44% lower than 2Q15.
What’s Been Driving Diamondback Energy’s Stock Price Movement?
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.
How Wall Street Viewed Marathon Oil September 8
As of September 8, 2017, ~44.5% of the analysts covering Marathon Oil (MRO) have “strong buy” or “buy” recommendations on the stock.
A Must-Know: Stone Energy’s Debt Restructuring Plans
On September 30, 2016, Stone Energy’s (SGY) total debt stood at ~$1.4 billion. With only ~$182 million in cash and cash equivalents, SGY’s net debt was ~$1.3 billion at the end of 3Q16.
How Energy Commodities Are Performing This Week
Crude oil (USO) prices rose from last week’s close of $68.58 per barrel to $70.53 per barrel on June 26—an increase of ~3%.
What Happened to ConocoPhillips Stock Last Week?
Last week (ended June 2, 2017), crude oil prices continued their weekly declining trend, falling from $49.80 per barrel to $47.66 per barrel.
What Analysts Think of Devon Energy after 3Q17 Earnings
As of November 2, 2017, around 71.9% of analysts covering Devon Energy (DVN) have “strong buy” or “buy” recommendations on the stock.
Can Devon Energy Continue Rallying after Its 1Q16 Earnings?
Devon Energy announced its 1Q16 earnings on May 3, 2016, after the market closed. On the day, DVN’s stock price fell by 5.2% to close at $32.75.
Inside Marathon Oil’s Stock Performance Last Week
Marathon Oil’s stock price fell from $15.91 to $15.16 last week, while crude oil prices fell from $53.18 per barrel to $49.62 per barrel.
Why COG Is the Second-Best-Performing Upstream Stock Year-to-Date
In 9M17, Cabot Oil & Gas (COG) reported revenues of ~$1.4 billion, which is ~63.0% higher than its 9M16 revenues of ~$839.0 million.
Denbury Resources’ Production Fell to a 3-Year Low in 2Q17
For 2Q17, Denbury Resources’ continuing production averaged 59.8 Mboepd, which is ~5% lower than its 2Q16 continuing production of ~63.0 Mboepd.
Delek US Holdings: The Sole Gainer in Refining and Marketing
In this part of our series, we’ll look at the top-percentage gainers from the US refining and marketing sector this week.
Why W&T Offshore Reported Higher Production in 2Q17
For 2Q17, W&T Offshore (WTI) reported total production of ~3.9 MMboe, which was slightly above the mid-point of its production guidance range of 3.7 MMboe–4.1 MMboe.
Why Crude Oil Prices Don’t Impact Crude Producers the Same
For the past month, Energen had the highest correlation of ~0.94 with WTI crude oil (USO) prices. Occidental Petroleum had the lowest correction coefficient.
What Has Hedging Done for Range Resources?
In 1Q16, natural gas hedging activities increased Range Resources’ (RRC) average realized natural gas price by $0.91 per Mcf (thousand cubic feet).
Why WPX Energy’s Normalized Free Cash Flows Rose
For 9M17 (the first nine months of 2017), WPX Energy (WPX) had normalized free cash flows (or FCF) of about -275%, the fifth lowest among the crude oil (USO) and natural gas (UNG) producers we have been tracking.
Range Resources’ 2Q16 Earnings Are Better Than Expected
In this series, we’ll analyze Range Resources’ 2Q16 earnings and revenue and look at its cash flow, operational performance, analyst ratings, and price forecasts.
Could Encana’s Quarterly Production Increase in 1Q18?
Encana (ECA) has not given any specific production guidance for 1Q18.
Oilfield Services Gainers: CRR, OII, OIS, FTK, and NOV
In the week starting on March 19, 2018, CARBO Ceramics (CRR) was the top gainer from the oilfield services group.
Analyzing Marathon Oil’s Operating Netbacks
In 1Q17, Marathon Oil (MRO) reported operating netback of ~$22.2 per boe (barrel of oil equivalent), which is ~135% higher than in 1Q16.
Behind Cobalt International’s Decline
Offshore oil and gas producer Cobalt International Energy (CIE) just saw its stock price underperform crude oil prices by a wide margin.
Occidental Petroleum’s Production Mix and Realized Prices
In 3Q15, Occidental Petroleum production mix was 63% crude oil, 25% natural gas, and 12% NGLs. This means that it is more tilted toward liquids production.
Southwestern Energy Stock: The Impact of Natural Gas Prices
Since November 9, 2016, SWN stock hasn’t been keeping up with the strong rise in natural gas prices. The stock has risen marginally from $9.78 to $10.10 per share.
How Range Resources Did in 1Q18
Range Resources (RRC) announced its 1Q18 earnings on April 25, after the market closed.
Marathon Oil Continued to Fall: What Can Investors Expect?
For the week ending November 17, 2017, Marathon Oil’s (MRO) stock price fell 3.34% or from $15.62 to $15.05.
What Are Wall Street Analysts Saying about Range Resources?
As of March 28, 2016, about 55% of Wall Street analysts rated Range Resources (RRC) as a “buy” and ~40% of analysts rated it as a “hold.”
Murphy Oil: Analysts’ 4Q16 EBITDA Estimates
For 4Q16, Wall Street analysts expect Murphy Oil to report EBITDA of ~$261 million—compared to adjusted EBITDA of approximately -$122 million in 4Q15.
What Caused Southwestern Energy’s Yearly Revenue Growth?
For 3Q17, Southwestern Energy (SWN) reported revenues of ~$737 million—higher than Wall Street analysts’ consensus of ~$777 million.
The Word on the Street: Forecasts for Range Resources
As of May 27, 2016, about 50% of Wall Street analysts have rated Range Resources (RRC) as a “buy,” and ~47% of analysts have rated it as a “hold.”
Will Southwestern Energy Report a Profit in 2Q17?
Southwestern Energy (SWN) will report its 2Q17 earnings on August 3, 2017, after the market closes. It’s expected to report the fourth consecutive profit.
The Story behind Stone Energy’s Operating Netbacks
In 2Q16, Stone Energy’s (SGY) reported operating netback of ~$23.64 per boe (barrel of oil equivalent), which is higher by ~4% than in 2Q15.
Analyzing Denbury Resources’ 1Q17 Revenue
In 1Q17, Denbury Resources (DNR) reported revenue of ~$275 million, ~11% higher than Wall Street analysts’ consensus estimate of ~$248 million.
What’s Dragging Down Cabot Oil & Gas Stock?
Year-to-date, Cabot Oil & Gas (COG) has been the fifth-weakest energy stock from the US oil and gas production sector.
Denbury Resources’s Capital Expenditure Guidance
For fiscal 2016, Denbury Resources (DNR) plans to spend ~$200 million in capital expenditure, which is ~51% lower when compared with fiscal 2015 capital expenditure of ~$407 million.
What Are Pioneer Natural Resources Operating Netbacks?
In 1Q16, Pioneer Natural Resources’ (PXD) reported an operating netback of ~$22.15 per boe (barrel of oil equivalent), which is ~4% lower than in 1Q15.
How Declines in Crude Oil Prices Have Affected Stone Energy
Although crude oil prices have rallied by ~89% from their lows in February 2016, crude is still trading ~54% lower than its high nearly two years ago.
What Just Happened to ConocoPhillips Stock?
Last week (ended May 26), crude oil prices fell from $50.67 per barrel to $49.80 per barrel.
How Marathon Oil Turned Losses into Profits in 4Q17
Marathon Oil (MRO) announced its 4Q17 earnings on February 14 after the market closed.
Marathon Oil: Pre-Earnings Wall Street Ratings
The median target price on Marathon Oil stock is $23.50, which is ~14% higher than its July 19 closing price of $20.54.
Marathon Oil Could Beat Its 3Q17 Earnings
In the last four quarters, Marathon Oil beat the consensus EPS estimate 75% of the time and met the consensus EPS estimate 25% of the time.
Drill Down into California Resources’ 2Q17 Operational Performance
For 2Q17, California Resources (CRC) reported total production of 129 Mboepd, which is below the midpoint production guidance of 128 Mboepd to 133 Mboepd.
Analyzing Devon Energy’s 3Q17 Revenues Expectations
For 3Q17, Wall Street analysts expect Devon Energy (DVN) to report revenues of ~$3.17 billion. On a year-over-year basis, DVN’s 3Q17 revenues expectations are ~10% higher compared with 3Q16 revenues of ~$2.88 billion.
What Wall Street Recommends for COP, MRO, SWN, and ECA
Currently, ~72% of Wall Street analysts rate ConocoPhillips (COP) a “buy,” and ~28% rate it a “hold.”
Southwestern Energy Is Trading Below Wall Street’s Median Target
Currently, ~10.0% of Wall Street analysts rate Southwestern Energy (SWN) a “strong buy,” 10.0% rate it a “buy,” and 65.0% rate it a “hold.”
Analyzing Consol Energy’s Stock Movement ahead of Its 1Q16 Earnings
So far in 2016, Consol Energy (CNX) has been outperforming bigger upstream companies in the S&P 500 (SPY). CNX has risen by ~64%.
How Has Range Resources’ Stock Performed in 2016?
In the last two months, Range Resources’ stock price has increased by ~68%.
How Southwestern Energy Stock Performed in 1Q17
In 1Q17, the stock of Appalachian natural gas (UNG) producer Southwestern Energy (SWN) underperformed natural gas, falling from $10.82 to $8.17.
Occidental Petroleum Paid Dividend of $0.76 per Share in January
Occidental Petroleum (OXY) paid its most recent dividend for 4Q16 on January 13, 2017—$0.76 per share on its common stock.
How Investors Have Reacted to Murphy Oil’s Past Earnings
After losing ~78% of its market capitalization from July 2014 to January 2016, Murphy Oil’s (MUR) stock price is finally showing signs of new uptrend.
Could Encana Report Higher Net Profits in 1Q17?
Encana (ECA) is set to report its 1Q17 earnings on May 1, 2017, after the market closes. This series will look at what we can expect from Encana.
Encana’s Lower Profits in 3Q17
Encana (ECA) announced its 3Q17 earnings on November 8, 2017, before the market opened. It reported worse-than-expected profits of ~$24 million.
Can SM Energy’s Stock Continue to Rally after Its 1Q16 Earnings?
SM Energy (SM) announced its 1Q16 earnings on May 3, 2016, after the Market closed. On the day of its earnings release, SM Energy’s stock price fell by 3.68% to close at $29.06 per share.
A Look at Cobalt International Energy’s 2Q17 Revenues
For 2Q17, Cobalt International Energy (CIE) reported revenues of ~$14.0 million, which was lower than Wall Street analysts’ consensus of ~$34.0 million.
Could California Resources Report Lower Losses in Q2 2018?
California Resources (CRC) is expected to report its Q2 2018 results on August 2, after the market closes.
Charts in Focus: Marathon Oil’s 4Q16 Production Costs, Margins
Excluding hedges, Marathon Oil (MRO) reported a positive cash margin and a negative total margin in 4Q16.
Why Occidental Petroleum Saw Its Debt Level Increase
As of September 30, 2017, Occidental Petroleum’s (OXY) total debt was ~$9.8 billion. With ~$1.8 billion in cash and cash equivalents, its net debt is ~$8 billion at the end of 3Q17.
Can Marathon Oil Report Higher Profits in Q2 2018?
Marathon Oil (MRO) is set to report its Q2 earnings on August 1. Excluding one-time items, the net income estimate is ~$161 million.