US Crude Oil Exports and Drilling Activity Impact OPEC
According to the EIA, US crude oil exports rose by 260,000 bpd to 1,129,000 bpd on November 3–10, 2017. Exports rose 30% week-over-week.
Energy & Utilities
Stock news and analysis in the energy sector, including petroleum, natural gas, and green energy,
US Gasoline Demand Hit a Record in October 2017
According to the API, US gasoline demand averaged 9,300,000 bpd (barrels per day) in October 2017. It was the highest level ever.
How Did DVN’s Dividend Cut Affect Its Dividend Yield?
Devon Energy Corporation’s 56.0% dividend cut in 2016 was followed by a 43.0% cut in 2017.
Valero’s Institutional Ownership Trends
What is institutional ownership? In this part, we’ll look at changes in institutional ownership in Valero Energy (VLO). Institutional ownership is a measure of how many shares of a company are owned by institutions such as banks and mutual funds. Institutional ownership suggests these institutions’ confidence level in a stock. Usually, everything else being equal, higher […]
US Dollar Could Benefit Crude Oil Futures This Week
The US Dollar Index fell 0.3% to 94.4 on November 17, 2017. It supported US crude oil (DBO) (SCO) prices on the same day.
Analysts’ Views on Valero
Analysts’ ratings for Valero Previously, we looked at analysts’ expectations for Valero Energy’s (VLO) dividend payment next quarter. In this part, we’ll look at analysts’ ratings for Valero. As shown in the chart above, nine (or 43%) of the 21 analysts covering VLO have rated it a “buy.” The remaining 12 analysts have rated Valero a “hold,” and […]
US Natural Gas Futures Might Continue to Fall Next Week
December natural gas (GASL) (BOIL) futures were below their 50-day and 100-day moving averages of $3.12 per MMBtu and $3.16 per MMBtu on November 16, 2017.
Will US Crude Oil and Gas Rigs Pressure Natural Gas Futures?
Baker Hughes will publish its US crude oil and natural gas rig count report on November 17, 2017. The rigs were flat at 169 on November 3–10, 2017.
Traders Are Tracking US Natural Gas Inventories
The EIA reported that US gas inventories fell by 18 Bcf (billion cubic feet) to 3,772 Bcf on November 3–10, 2017.
US Crude Oil Production: Bearish Driver for Oil Prices
The EIA estimates that US crude oil production rose by 25,000 bpd (barrels per day) or 0.3% to 9,645,000 bpd on November 3–10, 2017.
OPEC’s Monthly Oil Report: Positive or Negative for Crude Oil?
Higher crude oil demand, easing supplies and inventories, improving global crude oil demand, and economic growth could support oil prices.
Why SunPower Reported Lower 3Q17 Revenues
SunPower (SPWR) reports its revenue under the power plant, residential, and commercial segments. The latter two segments are together called the distributed generation segments.
Are US Natural Gas Inventories Bullish for Natural Gas Futures?
The EIA estimates that US gas inventories rose by 15 Bcf (billion cubic feet) or 0.4% to 3,790 Bcf on October 27–November 3, 2017.
US Gasoline Inventories Hit 3-Year Low
The EIA reported that gasoline inventories in the US fell by 3,312,000 barrels to 209.5 MMbbls (million barrels) between October 27, 2017, and November 3, 2017.
Unexpected Build in US Crude Oil Inventories Pressures Oil Futures
The EIA (or US Energy Information Administration) released its Weekly Petroleum Status Report on November 8, 2017.
Did Occidental Petroleum Generate Positive Free Cash Flow in 3Q17?
On a year-over-year basis, OXY’s 3Q17 operating cash flow was ~65% higher than the ~$650 million it generated in 3Q16.
Will Non-OPEC and US Crude Oil Production Impact Oil Prices?
The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 46,000 bpd to 9,553,000 bpd on October 20–27, 2017.
Chesapeake’s Implied Volatility: Stock Price Range Forecast
Chesapeake Energy’s (CHK) implied volatility as of October 30, 2017, was ~58%—9% higher than its 15-day average of ~53%.
US Gasoline Demand Hit an All-Time High in August
On October 31, 2017, the EIA reported that US gasoline demand rose by 197,000 bpd to 9,770,000 bpd in August 2017—compared to the previous month.
MLP Rating Updates Last Week
EnLink Midstream LLC (ENLC), the GP (general partner) of EnLink Midstream Partners (ENLK), was raised by UBS to a “buy.”
Last Week’s Top MLP Gainers
CVR Partners (UAN), the MLP mainly involved in the production of nitrogen fertilizers, was the top MLP gainer last week. CVR Partners rose 7.7%.
Last Week’s Biggest MLP Losers
Sanchez Production Partners (SNMP), the midstream MLP involved mainly in natural gas gathering, compression, and processing, was the biggest MLP loser last week.
What to Expect from Pioneer Natural Resources’ Cash Flow in 3Q17
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.
What to Expect from Occidental Petroleum’s 3Q17 Revenues
For 3Q17, Wall Street analysts expect Occidental Petroleum (OXY) to report revenues of ~$3.1 billion.
US Gas Rigs Hit 5-Month Low: Good or Bad for Natural Gas Futures?
Baker Hughes is scheduled to release its weekly US oil and gas rig report on October 27, 2017.
How Is US Natural Gas Production and Consumption Trending?
PointLogic estimates that weekly US dry natural gas production rose by 0.9 Bcf (billion cubic feet) per day to 74.6 Bcf per day between October 19 and October 25, 2017.
Massive Fall in US Gasoline Inventories Drove Gasoline Futures
The EIA reported that US gasoline inventories fell by 5,465,000 barrels or 2.5% to 216.8 MMbbls (million barrels) on October 13–20, 2017.
US Distillate Inventories Fell for the Seventh Time in 8 Weeks
US diesel futures fell on October 25, 2017, despite the massive fall in distillate inventories. They fell 0.2% to $1.81 per gallon on the same day.
Cushing Inventories Are Near 5-Month High: Bearish for Oil
Wall Street analysts expected that crude oil inventories at Cushing would rise between October 13, 2017, and October 20, 2017.
Wall Street’s Forecast for Flotek Industries before Its 3Q17 Earnings
On October 16, 2017, all analysts tracking Flotek Industries rated it as a “buy” or some equivalent.
CSX Corporation Has a Wide Economic Moat
To demonstrate the power of efficient scale in creating economic moats, we highlight four companies: U.S.-based wide moats CSX Corporation and UPS, and international narrow moats Telefonica SA (Spain) and CapitaLand Commercial (Singapore).
Lower US Crude Oil Inventories Help Crude Oil Bulls
The EIA estimates that crude oil inventories fell by 5.7 MMbbls to 456.4 MMbbls on October 6–13, 2017—the lowest levels since August 25, 2017.
How Higher Crude Oil Prices Impact Coal Producers
On October 13, 2017, Brent crude oil prices settled at $57.17 per barrel, 3% higher than $55.60 reported during the previous week.
How Weather Affects Natural Gas Prices
On October 16, the November US natural gas futures contract price was reported as $2.95 per MMBtu.
Will President Trump Rescue the Crude Oil Market?
November WTI crude oil (DBO)(DWT)(USO) futures contracts rose 0.71% and were trading at $50.96 per barrel in electronic trading at 2:06 AM on October 13.
Cushing Inventories Are above Their 5-Year Average
Cushing crude oil inventories rose for the sixth consecutive week. Any rise in Cushing inventories is bearish for crude oil (USO) (USL) (SCO) prices.
What Is a Yieldco?
A yieldco is an investment vehicle formed by a parent company to own operating assets. They’re expected to generate stable cash flows.
Oil Prices Fell despite the Draw in US Crude Oil Inventories
US crude oil (USL) (DBO) (OIL) prices fell on October 4, 2017, despite the massive draw in US crude oil inventories.
Are US Gasoline Inventories a Pain for Crude Oil Bulls?
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories rose by 1.6 MMbbls to 218.9 MMbbls on September 22–29, 2017.
How Crude Oil Indirectly Impacts Coal Prices
On September 29, 2017, Brent crude oil prices closed at $57.54 per barrel compared to $56.86 the previous week.
US Gasoline Demand: Are the Crude Oil Bears Taking Control?
Weekly US gasoline demand rose by 81,000 bpd to 9.5 MMbpd on September 15–22, 2017. Gasoline demand rose by 642,000 bpd or 7.2% YoY.
What Really Moved W&T Offshore Stock Last Week?
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.
Why ConocoPhillips Stock Moved Last Week
For the week ending September 29, 2017, ConocoPhillips stock had a correlation of ~18% with crude oil (USO) (SCO).
Chart in Focus: Marathon Oil’s Hedging Effectiveness
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.
Southern and Nextera Energy: First Solar’s Key Customers
High customer concentration In 2016, First Solar (FSLR) sold solar modules to customers in the United States, India, and the United Arab Emirates. Approximately 23% of its total revenue was from third-party module sales. The majority of First Solar’s customer base is in the United States, which makes up to more than 80% of total […]
How Record US Crude Oil Exports Are Impacting Crude Oil Inventories and Prices
On September 27, the EIA released its weekly report, estimating that US crude oil inventories fell to 470.9 MMbbls from September 15–22, 2017.
How US Natural Gas Production and Consumption Are Driving Prices
Market data provider PointLogic estimates that weekly US dry natural gas production fell by 0.2 Bcf (billion cubic feet) per day to 74.3 Bcf per day from September 21 to 27, 2017.
How Marathon Oil’s Divestiture Affected Its Production Mix
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.
US Gasoline Demand Today: Bullish or Bearish for Crude?
The EIA estimates that weekly US gasoline demand fell 178,000 bpd (barrels per day) to 9.4 MMbpd between September 8 and September 15.
The Key Risks Involved in Arch Coal’s Business
Commodity price risk Arch Coal (ARCH) has long-term coal supply agreements for their non-trading, thermal coal sales, hence managing commodity risk for thermal coal and also to a limited extent, through the use of derivative instruments. However, sales commitments in the metallurgical coal market are typically not long-term in nature and are subject to fluctuations […]