Will US Crude Oil Futures Rise above Key Moving Averages?
Let’s track some important events for oil and gas traders between August 28 and September 1, 2017.
Energy & Utilities
Stock news and analysis in the energy sector, including petroleum, natural gas, and green energy,
How Tropical Storm Harvey Impacts US Crude Oil and Gasoline Prices
WTI (West Texas Intermediate) crude oil (SCO)(BNO)(PXI) futures contracts for October delivery rose 0.4% and were trading at $46.8 per barrel in electronic trading at 2:05 AM EST on August 29.
Kansas City Southern: Behind the Freight Volume Rise in Week 33
Kansas City Southern hauled ~26,000 railcars in the same week compared with close to 25,000 units in the week ended August 20, 2016.
Can Chesapeake Energy Stock Rise from the Doldrums?
Chesapeake Energy stock (CHK) has fallen for most of this year. It picked up slightly in April but wasn’t able to hold those levels.
Refining Margins in 2Q17: A Comparison
Refining margins in 2Q17 In this part, we’ll compare leading US downstream companies’ GRMs (gross refining margins). Marathon Petroleum (MPC) had the widest GRM in 2Q17, followed by Andeavor (ANDV), Phillips 66 (PSX), and Valero Energy (VLO). The companies saw mixed GRM trends in 2Q17—let’s look at them more closely. Marathon Petroleum’s refining margin MPC’s gross […]
US Distillate Inventories Were Flat Last Week
The EIA (U.S. Energy Information Administration) estimates that US distillate inventories were flat at 148.4 MMbbls (million barrels) between August 11, 2017, and August 18, 2017.
How US Gasoline Inventories Support Crude Oil Futures
The US Energy Information Administration reported that US gasoline inventories fell by 1.2 MMbbls (million barrels) to 229.9 MMbbls (million barrels) between August 11, 2017, and August 18, 2017.
US Crude Oil Inventories Fall in Line with Market Expectations
A Reuters survey estimated that US crude oil inventories would fall 3.5 MMbbls between August 11, 2017, and August 18, 2017.
How India’s Crude Oil Imports, Production, Demand Impact Prices
India’s Petroleum Planning and Analysis Cell estimated that the country’s crude oil imports rose 0.60% to 4.2 MMbpd in July 2017 from July 2016.
What Does Nabors Industries’ Historical Valuation Suggest?
Nabors Industries’ PE multiple was not meaningful in 2015 and 2016 as a result of negative adjusted earnings during this period.
Will the US Crude Oil Rig Count Support Crude Oil Futures?
Baker Hughes released its US crude oil rig count report on August 18, 2017. It reported that the US crude oil rig count fell by five to 763 on August 11–18.
How Nabors Could Use Its Free Cash Flow This Year
Nabors Industries’ (NBR) CFO (cash from operating activities) turned positive in 2Q17, compared with its negative CFO in 1Q17.
Behind the Break-Even Price Trends for the Permian and Top US Shale Plays
The Midland and Delaware Basins, which are sub-basins of the Permian Basin, had the lowest break-even prices.
US Natural Gas Futures Could Fall in 3Q17
The CFTC reported that hedge funds decreased their net long positions on US natural gas futures and options contracts 28% to 39,569 on August 1–8, 2017.
US Crude Oil Inventories: Biggest Draw since September 2016
The EIA reported that US crude oil inventories fell by 8.9 MMbbls or 1.8% to 466.4 MMbbls on August 4–11, 2017—the biggest draw since September 2016.
How Encana Stock Has Performed This Year
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.
How Good Is Chevron as a Dividend Payer?
Chevron’s (CVX) total sales and other operating revenues for 2016 fell 15.0% due to volatility in commodity prices.
What to Expect from US Gasoline Demand
The EIA (U.S. Energy Information Administration) estimates that weekly US gasoline demand fell by 45,000 bpd (barrels per day), or 0.45%, to 9,797,000 bpd between July 28 and August 4, 2017.
Will US Crude Oil and Gasoline Inventories Support Oil Prices?
September WTI (West Texas Intermediate) crude oil (OIH) (SCO) (DIG) futures contracts rose 0.5% to $47.81 per barrel in electronic trading at 1:50 AM EST on August 16, 2017.
Consolidated Edison’s Dividend Trajectory
Consolidated Edison’s (ED) 2016 operating revenues fell 4.0% due to a decline in every segment; namely, electric, gas, steam, and non-utility.
ExxonMobil’s Journey as a Dividend Aristocrat
ExxonMobil’s (XOM) story is similar to Chevron’s. The company’s sales and other operating revenue for 2016 fell 16.0%.
Analyzing the Short Interest in ConocoPhillips Stock
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.
Will Global Oil Consumption Beat Production?
WTI (West Texas Intermediate) crude oil (PXI)(USL)(SCO) futures contracts for September delivery fell 0.1% and were trading at $48.78 per barrel in electronic trading at 2:00 AM EST on August 14, 2017.
Analyzing Short Interest in Denbury Resources Stock
Denbury Resources’ short interest ratio has a 52-week high of ~12.3x and a 52-week low of 5.8x.
What’s the Short Interest in Southwestern Energy Stock?
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.
Analyzing Short Interest in Cobalt International Energy’s Stock
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.
How AvalonBay Compares after 2Q17
Price-to-funds from operations multiple AvalonBay Communities’ (AVB) performance in 2Q17 can be best evaluated by looking at its price-to-FFO (funds from operations) multiple. The multiple, widely used for REITs, gives an idea of how much an investor pays for a particular stock per unit of its profit. The multiple, which has the same implications as the price-to-earnings […]
Dividend Yield in 2Q17: Comparing SLB, HAL, and NOV
Schlumberger’s (SLB) quarterly dividend per share remained unchanged from 2Q16 to 2Q17. In 2Q17, Schlumberger’s quarterly DPS is $0.50.
US Gasoline Inventories Limit the Upside for Crude Oil Futures
US gasoline inventories rose by 3.4 MMbbls to 231.1 MMbbls on July 28–August 4, 2017. Inventories rose for the third time in the last ten weeks.
US Gasoline Demand Hit a Record: What’s Next?
The EIA estimates that weekly US gasoline demand rose by 21,000 bpd (barrels per day) to 9,842,000 bpd on July 21–28, 2017. It’s the highest level ever.
Analyzing US Crude Oil and Gasoline Inventories
The API estimates that US gasoline inventories rose by 1.5 MMbbls (million barrels) on July 28–August 4, 2017.
Tronox Will Sell Its Alkali Chemicals Business
On August 2, 2017, Tronox (TROX) announced that it entered into a definitive agreement with Genesis Energy LP (GEL) to sell its alkali chemicals business.
Analyzing Short Interest in Occidental Petroleum Stock
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.
Chart of the Week: What’s the Short Interest in Devon Energy?
As of July 14, 2017, short interest in Devon Energy (DVN) is ~11.3 million shares, while its average daily volume is ~6.2 million shares.
Analyzing Chesapeake’s 2Q17 Revenue and Earnings
On August 3, 2017, Chesapeake Energy (CHK) reported its 2Q17 earnings. The company reported revenue of ~$2.3 billion—in line with analysts’ estimates.
These Energy Stocks Rose the Most Last Week
Oil field services stock CARBO Ceramics (CRR) was the biggest gainer among the energy sector stocks last week.
Russia’s Crude Oil Production Was Flat Again
The Russian Energy Ministry estimates that Russia’s crude oil production was flat at 10.95 MMbpd in July 2017—compared to the previous month.
Why Manufacturing Activity in Brazil Is on a Decline
Manufacturing activity in Brazil In July 2017, the manufacturing PMI (purchasing managers’ index) in Brazil (BRZU) continued to decline, falling to 50 from 50.5 in June 2017. July 2017 brought a slowdown in both output and new business. US companies doing business in Brazil include Walmart (WMT), ExxonMobil (XOM), Chevron (CVX), and Apple (AAPL). Brazil (EWZ) […]
A Deep Dive into Kansas City Southern’s Shipments in Week 30
Kansas City Southern (KSU), the smallest Class I railroad in the US, also operates in Mexico.
How Schlumberger Correlates with Crude Oil
The correlation coefficient between the West Texas Intermediate (or WTI) crude oil price and Schlumberger’s (SLB) stock price between August 4, 2016, and August 4, 2017, is 0.62.
Analyzing Marathon Oil’s 2Q17 Revenues
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.
Cushing Inventories Fell 20% from the Peak
A preliminary market survey estimates that Cushing inventories fell on July 28–August 4, 2017. Inventories fell for the 11th consecutive week.
Genesee & Wyoming’s North American Revenues in 2Q17
In 2Q17, GWR’s North American revenues were $315.7 million, a 3.6% rise from $304.6 million in the same quarter last year.
US Dollar Recovers from a 13-Month Low
The US Dollar Index rose 0.77% to 93.7 on August 4, 2017. The US dollar rose due to the better-than-expected rise in US unemployment data.
Short Interest in Devon Energy Stock
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.
What Wall Street Analysts Are Saying about ConocoPhillips
As of July 28, 2017, 43.48% of the total Wall Street analysts covering ConocoPhillips (COP) have a “hold” recommendation on ConocoPhillips.
Analyzing Short Interest Trends in ConocoPhillips’s Stock
As of July 14, 2017, ConocoPhillips’s (COP) total shares shorted (or short interest) stood at ~31.48 million, whereas its average daily volume is ~5.91 million.
Why US Gasoline Demand Rose for 2nd Consecutive Month
The EIA (US Energy Information Administration) estimates that US gasoline demand rose 1.5% to 9.6 MMbpd (million barrels per day) in May 2017 compared to May 2016.
American Tower’s Place among Peers after 2Q17
AMT’s current price-to-FFO multiple stands at ~22.1x. After 2Q17, American Tower offers a next-12-month dividend yield of 1.9%.
The Story behind American Tower’s Strong Balance Sheet
In 2Q17, American Tower (AMT) topped its 2Q16 results on higher organic tenant billing and prudent cost controls.