Of the 26 analysts tracking Occidental Petroleum (OXY), 69% recommend “buy,” 31% recommend “hold,” and none recommend “sell.”
Of the 31 analysts tracking Range Resources (RRC), 45% recommend a “buy,” 45% recommend a “hold,” and 10% recommend a “sell.”
On March 13, US crude oil April futures settled at $58.26 per barrel, the highest closing level for active US crude oil futures since November 12.
Any expansion in the Brent-WTI spread could benefit US refineries (CRAK) and cause their input costs to fall.
Based on analysts' consensus estimates, Energy Transfer stock has a target price of $20.83 compared to its current market price of $15.43.
NextEra Energy, the biggest utility by market cap, is trading at a forward PE multiple of 22x based on analysts’ estimated EPS for the next 12 months.
The institutional ownership in HollyFrontier (HFC), Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX) is above 70%.
Last week, upstream stock EQT (EQT) fell the most among the stocks in the energy space. Last week, natural gas prices fell 8.9%. EQT operates with a production mix of ~95% in natural gas.
On August 6, Southwestern Energy will report its second-quarter earnings. The company's adjusted net income per share will likely fall 66.7% sequentially.