Wall Street Analysts’ Forecasts for National Oilwell Varco
On February 24, ~14% of the analysts tracking National Oilwell Varco rated it as a “buy,” ~74% rated it as a “hold,” and 12% rated it as a “sell.”
Miscellaneous
Cushing Inventories: Lowest Level since November 2016
Cushing inventories could have fallen on June 30–July 7, 2017. Crude oil inventories at Cushing have fallen for the seventh straight week.
US Crude Oil Production Fell for the First Time since February
US crude oil production fell by 9,000 bpd to 9,305,000 bpd on May 5–12, 2017. Production fell 0.1% week-over-week, but rose 5.8% year-over-year.
FOMC Meeting Could Surprise Crude Oil Traders
US crude oil (UCO) (USL) futures contracts for January delivery rose 0.7% and were trading at $58.4 per barrel at 1:02 AM EST on December 12, 2017.
OPEC’s Monthly Report Could Pressure Oil Prices
OPEC will release its Monthly Oil Market Report on July 12, 2017. OPEC’s crude oil production rose in June 2017.
Energy Sector and Crude Oil Prices Helped the S&P 500
The S&P 500 rose ~0.7% to 2,733.01 on May 21 due to the rise in industrial stocks and crude oil prices—the highest level in more than two months.
Why is the Freescale–NXP merger premium so low?
The companies were asked about the takeover premium and the background to the transaction on the conference call, but they refused to comment.
Futures Spread: Does It Signal End of Oil’s Oversupply Concern?
On October 17, 2017, US crude oil (USO) (OIIL) December 2018 futures traded $0.46 below the December 2017 futures.
What Led Robust Chinese Iron Ore Imports despite Contrary Views
Contrary to what was suggested by many market participants, the iron ore imports by China increased in September 2016 instead of declining.
US Distillate Inventories Fell for the Tenth Straight Week
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 2 MMbbls to 148.3 MMbbls on April 7–14, 2017.
Behind Kansas City Southern’s Intermodal Growth amid Weak Trailers
Kansas City Southern (KSU) reported a 7.2% rise in its overall intermodal volumes of containers and trailers in the week ended July 1, 2017.
Roblox CEO David Baszucki's Net Worth
Roblox CEO and co-founder David Baszucki has a net worth of approximately $28 million.
Key Energy Events for October 9–13, 2017
The EIA’s STEO (Short-Term Energy Outlook) Report is scheduled to be released on October 10, 2017, and could impact crude oil and natural gas prices.
What the Natural Gas Futures Spread Tells Us about the Current Sentiment
On September 6, 2017, the futures spread was at a discount of $0.06, but on September 8, 2017, the futures spread shifted to a premium.
What to Expect from Natural Gas Next Week
On January 18, 2018, natural gas’s implied volatility was 53.9%, 10.2% above its 15-day average.
US Gasoline Demand: Key Crude Oil Driver in 2017
The EIA estimated that four-week average US gasoline demand rose by 210,000 bpd (barrels per day) to 9,312,000 bpd from March 17–24, 2017.
How Much Upside Is Left in Starbucks’s Stock Price?
Starbucks’s (SBUX) share price has been soaring since it announced its fiscal 4Q16 results on November 3, 2016. Let’s explore why.
Will Crude Oil Futures Rise or Fall This Week?
WTI crude oil (SCO) futures settled at $64.30 per barrel on January 12, 2018—the highest level since December 2014.
US Crude Oil Exports Could Be at a Tipping Point
On October 31, 2017, Brent crude oil (BNO) active futures were ~$7 above US crude oil (UCO) futures.
Could La Niña Save Natural Gas Bulls?
On October 4, 2017, natural gas (UNG) November futures closed at $2.94 per MMBtu (million British thermal units), a rise of 1.6% from the last trading session.
Will US Natural Gas Futures Fall More?
US natural gas (GASL) futures contracts for January delivery were below their 20-day, 50-day, and 100-day moving averages on December 14, 2017.
US Distillate Inventories Rose for the Fourth Straight Week
US distillate inventories rose by 1.1 MMbbls to 152.5 MMbbls on June 9–16, 2017. US distillate inventories rose for the fourth consecutive week.
Teva’s Respiratory Drugs Contribute 11% to Specialty Medicines
Teva’s respiratory drugs franchise provides solutions for asthma, COPD, and allergic rhinitis. Respiratory drugs contributed nearly 11% of total revenues for Teva’s Specialty Medicines in 2014.
Possibilities for Natural Gas Prices Next Week
On December 7, 2017, natural gas’s implied volatility was 40.5% or ~7.5% less than its 15-day average. On November 29, the implied volatility rose to 47.7%.
How The Rising Dollar Is Causing Oil Prices To Fall
A rising dollar has and will continue to put downward pressure on oil prices, causing trouble for the energy sector (XLE).
Comparing WTI’s and Brent’s Performance
The Brent-WTI spread On December 18, 2017, Brent crude oil (BNO) active futures’ premium to WTI (West Texas Intermediate) crude oil (USO) (UCO) active futures was $6.30. On December 11, 2017, the Brent-WTI spread was $6.70. On December 11, 2017, the shutdown of the Forties Pipeline System boosted Brent oil prices. That day, the spread expanded […]
Gasoline Inventories Could Cap the Upside for Oil Prices
On January 23, 2018, the API released its crude oil inventory report. US gasoline inventories increased by 4.1 MMbbls on January 12–19, 2018.
US Distillate Inventories Fell for the Third Time in 10 Weeks
US distillate inventories fell by 3.8 MMbbls or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories fell by 29.9 MMbbls or 18% from a year ago.
Merger Update: Charter, Bright House, and Time Warner Cable
California is the only state where the merger between Charter Communications, Time Warner Cable, and Bright House Networks has yet to be approved. It could be approved as early as May 12.
Macy’s Stock: Why Do Most Analysts Rate It a ‘Hold’?
On February 2, 2017, 19 out of 22 analysts covering Macy’s (M) stock had “hold” recommendations, and three analysts had “buy” recommendations.
Are Supply Concerns Pushing Oil Higher?
On January 11, 2018, US crude oil’s (USO) (USL) February 2018 futures gained 0.4% and settled at $63.80 per barrel, a new three-year high.
What Could Backwardation Mean for Oil Traders?
Due to the contango structure in the oil market lately, USO underperformed crude oil prices. It could change if the oil market switched to backwardation.
Why Oil Rigs Could Overshadow Natural Gas’s Gains
On March 31, 2017, the natural gas (BOIL) (GASX) (FCG) (GASL) rig count was 160, a rise of five rigs over the previous week.
Energy Calendar: Analyzing Key Oil and Gas Drivers
The energy sector contributed to ~6.6% of the S&P 500 on March 31, 2017. Oil and gas producers’ earnings depend on crude oil and natural gas prices.
Could Natural Gas Hit a New 2017 Low Next Week?
On December 14, 2017, the implied volatility of natural gas futures was 40.4%. It was ~5.9% below its 15-day average.
What’s the Rationale for the ITC-Fortis Merger?
Fortis (FRTSF) is buying ITC (ITC) in the largest Canadian purchase of a US utility. Fortis intends to sell a 19% stake in order to help finance the transaction.
How Oil Rigs Could Make Natural Gas Traders Bearish
On April 7, 2017, the natural gas (BOIL) (GASX) (FCG) (GASL) rig count was 165, a rise of five rigs over the previous week.
Monthly US Crude Oil Production Hit May 2016 High
The EIA reported that monthly US crude oil production rose by 60,000 bpd (barrels per day) to 8.8 MMbpd in January 2017—compared to the previous month.
Best Buy’s Valuation: How Does It Compare to Peers?
As of April 25, Best Buy (BBY) was trading at a 12-month forward PE (price-to-earnings) ratio of 11.3x.
Will Natural Gas Reclaim $3 Next Week?
On October 12, 2017, natural gas implied volatility was 35.9%, 1.7% above its 15-day average.
Will OPEC and Russia Announce Deeper Production Cuts?
The OPEC and non-OPEC monitoring committee meeting will be held on July 24, 2017, in Russia. The meeting will discuss production cut deal compliance.
What’s on the Energy Calendar for Oil and Gas Traders This Week?
The US energy sector contributed to ~6.3% of the S&P 500 (SPY) (SPX-INDEX) on May 12, 2017.
Challenges for the Western Digital-SanDisk Merger
One of Western Digital’s top shareholders, Alken Asset Management, opposed the merger in its open letter to Western Digital’s board.
Will OPEC Meeting in Vienna Affect Crude Oil Futures?
November US crude oil (UWT) (SCO) (DBO) futures contracts rose 1.6% and closed at $49.3 per barrel on September 20, 2017.
Staples And Office Depot—Market Leaders In A Changing Industry
Staples (SPLS) and Office Depot (ODP) are facing a challenging business environment. Their core product category is office supplies. Revenues are declining for office supplies.
US Crude Oil at New 2017 High: Is Risk Rising?
Between November 17 and November 24, 2017, US crude oil (USO) (USL) January futures rose 3.9%.
US Distillate Inventories Fell for the Third Straight Week
The EIA reported that US distillate inventories fell by 1.9 MMbbls (million barrels) to 146.8 MMbbls on May 5–12, 2017.
Mining Stocks Are Recovering from Their Slump
The Direxion Daily Gold Miners (NUGT) and the ProShares Ultra Silver (AGQ), both leveraged mining funds, both have recovered and jumped 19.4% and 24.9%, respectively, on a five-day trailing basis.
Recent Fall in the US Dollar: Crucial for Natural Gas?
Natural gas (GASX) (FCG) (GASL) July futures rose 0.5% on May 17–May 24, 2017. During this period, the US dollar (UUP) (UDN) (USDU) fell 0.3%.
Wells Fargo Upgrades Rowan Companies to ‘Outperform’
RDC’s analyst recommendations Analysts’ consensus rating for Rowan (RDC) is 2.6, which means a “hold.” Peers Transocean (RIG), Diamond Offshore (DO), Noble (NE), and Ensco (ESV) also have “hold” ratings. Of the 31 analysts covering Rowan (RDC), 39% recommend “buy” or some equivalent, 55% recommend “hold,” and 6% recommend “sell.” Among the top offshore drilling stocks […]