Continental Resources Inc (OKLA)
Why oil takeaway capacity in the Bakken can affect earnings
The availability of takeaway capacity from the Bakken can affect producers’ earnings.
Why the Numbers Look Bearish for These Upstream Stocks
All these upstream companies have seen the short interest in their stocks rise—an potential indication of market skepticism in these companies’ abilities to profit from oil’s recent gains.
Analyzing Short Interest Trends in Oasis Petroleum
Oasis Petroleum’s short interest ratio on September 13, 2016, was ~19.4%. Its short interest ratio on June 30, 2016, was 16.1%.
How a Fed Rate Hike Could Hurt Crude Oil Prices
The US Dollar Index (DXY) has risen 8% against global currencies in 2015. The rising dollar should put further pressure on the pessimistic oil market.
What Are Analysts’ Targets for Apache for the Next 12 Months?
APA’s high target price stands at $73, its low target price stands at $42, and its median target price stands at $60.
What Does Continental Resources’ Revenue Growth Trend Indicate?
Continental Resources’ (CLR) 1Q16 revenue fell by ~27% YoY (year-over-year), while its YoY revenue growth was around -37% in 1Q15 and about -59% in 4Q15.
Investors respond differently to upstream companies’ capex plans
In this environment of crude oil prices declining sharply and staying low, investors continue to favor stocks that are increasing investments.
Why Are Investors Bearish on These Upstream Stocks?
California Resources’s short interest-to-equity float ratio has been following a rising trend for the last three months. During this period, the stock has fallen 20.5%—the largest fall among the upstream stocks.
Where Is Hess Focusing Its Key Efforts amid Volatile Energy Prices?
Hess Corporation has consistently been improving its performance since long before crude oil prices began crashing.
What Are the Short Interest Trends in Whiting Petroleum Stock?
On June 11, Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) was ~16%.
A must-know overview of ConocoPhillips’ operations in the US
The lower 48—representing the largest business segment in COP—consists of operations located in the U.S. lower 48 states plus Latin America.
Why energy investors monitor the EIA’s crude inventory report
Analysts had expected a decrease of 2.5 million barrels in crude inventories last week. We’ll discuss actual changes in the crude inventory in this series.
EIA projections: What to expect for crude prices in 2015
Plunging crude prices may cause crude production to decline.The EIA has scaled down its 2015 production growth forecast from 900,000 to 700,000 barrels.
Analyzing US Natural Gas Consumption Trends
PointLogic estimates that US natural gas consumption dropped ~1.4% to 56.7 Bcf per day on May 17–23.
Why investors should track crude oil inventory levels
The difference between actual and expected changes in US crude oil inventory levels affects crude prices and thus revenues and earnings of major companies.
What Are Wall Street’s Forecasts for Oasis Petroleum?
Approximately 58% of analysts have rated Oasis Petroleum (OAS) as a “buy” and ~39% have rated it as a “hold.”
The Brent–WTI Spread Drops ~10.4% in the Last Five Sessions
The Brent-WTI crude oil spread was $3.78 per barrel on July 16, down from $4.22 per barrel on July 9. The Brent-WTI spread dropped ~10.4% from July 9 to July 16.
Implied Volatility in Whiting Petroleum: Forecasting Stock Range
Current implied volatility in Whiting Petroleum (WLL) is ~49.9%, 0.20% higher than its 15-day average of 49.8%.
Continental Resources’ Implied Volatility after 4Q16 Earnings
Continental Resources’ (CLR) current implied volatility is 35.4%. That’s about 9.0% lower than its 15-day average of 40.0%.
Why less-than-expected crude inventory increased
On October 29, the U.S. Energy Information Administration (or EIA) released inventory data for the week ending October 24. Inventories increased less than analysts expected.
How Did Cimarex Energy’s Stock Perform Last Year?
Year-over-year, Cimarex Energy’s stock has risen by ~8%. Meanwhile, crude oil prices (USO) have fallen by ~10% in the same period.
Why did last week’s crude oil inventory build beat expectations?
On October 8, the U.S. Energy Information Administration (or EIA) released inventory data for the week ended October 3.
Which Upstream Stocks Have the Highest Short Interest?
On December 23, 2016, California Resources (CRC) had the highest short interest-to-equity float ratio of ~37% among the upstream stocks in XOP.
Oasis Petroleum: What Are Wall Street’s Forecasts?
Consensus ratings for Oasis Petroleum Approximately 61% of analysts have rated Oasis Petroleum (OAS) a “buy” and ~36% have rated it as a “hold.” The average broker target price of $16.93 for OAS implies a return of ~17% over the next 12 months. Oasis Petroleum’s (OAS) high target price stands at $22, and its low […]
How Could Trade Tariffs Affect the US Upstream Sector?
Earlier this month, the White House made good on its threats and announced tariffs on Chinese goods worth $50 billion, including steel and aluminum.
Whiting Petroleum’s Earnings and Revenue Trends
WLL’s revenues have fallen considerably compared to 3Q14. Its 3Q16 revenues totaled ~$129 million, versus an estimate of $348 million.
Analyzing Continental Resources’ Stock Performance
Continental Resources (CLR) stock has been on a consistent uptrend since the beginning of 2018. The stock has risen 12.6% year-to-date.
Are These Bearish Upstream Stocks in Your Portfolio?
On December 5, 2016, California Resources (CRC) had the highest short interest-to-equity float ratio of ~42.5% among the upstream stocks in XOP.
Oasis Petroleum’s Production Trends: What to Expect in 4Q16
In 3Q16, Oasis Petroleum (OAS) increased its 2016 production guidance to 49.3 Mboepd–50 Mboepd.
Hedge Funds’ Net Bullish Positions in US Natural Gas
Hedge funds decreased their net bullish positions in US natural gas futures and options 1.1% to 190,432 on June 5–12.
The EIA’s must-know forecasts for 2014 and 2015 crude oil prices
Background Brent crude spot oil spot prices fell by more than 15% in November. WTI crude oil spot prices fell from an average of $84 per barrel in October to $76 per barrel in November. EIA forecasts Tanking oil prices will hurt the margins of oil producers such as ExxonMobil (XOM), Apache Corp. (APA), Continental […]
WLL’s Plans in the Williston Basin for the Rest of 2018
In the first quarter, Whiting Petroleum’s (WLL) total production volume was ~127.1 Mboepd.
Continental Resources Stock: Understanding the Short Interest Trends
CLR’s short interest ratio was 21.6% as of February 13, as compared to 21.5% at the end of 4Q16.
What Analysts Recommend for Hess Stock
Approximately 52% of analysts covering Hess (HES) recommend “hold,” ~43% recommend “buy,” and 5% rate it as “underperform.”
Upstream Stocks that Lead in Short Interest
On October 28, California Resources (CRC) had the highest short interest-to-equity float ratio of ~44.8% among the upstream stocks in XOP.
How does Continental Resources compare to its peers?
Continental Resources’ net debt-to-EBITDA multiple of 1.6x is one of the highest among its peers. This could indicate a potential liquidity crunch, or insufficient cash to repay debt, particularly when crude oil prices are falling.
ONEOK Partners’ natural gas gathering and processing segment
ONEOK Partners’ (OKS) natural gas gathering and processing segment provides natural gas gathering, compression, treatment, and processing services to natural gas producers.
What Wall Street Thinks about the Top Upstream Energy Companies
About 69% of Wall Street analysts tracking EOG Resources (EOG) have recommended a “buy” or equivalent; 23.8% have recommended a “hold”; the rest recommend a “sell.”
Upstream Rating Updates for the Week That Ended October 12
Whiting Petroleum (WLL) saw a rating update and three target price revisions in the week that ended on October 12.
Will WTI crude oil hit $54 per barrel?
April crude oil futures for WTI (West Texas Intermediate) broke out of the double bottom pattern. Prices closed at $51.53 per barrel on March 4, 2015.
Crude Oil Downturn: Why Did XOP Fall the Most?
The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) underperformed other energy ETFs from June 23–30, 2016.
Whiting Doubles 2017 Capex: What to Make of It
Whiting’s capex budget in 2017 Whiting Petroleum’s (WLL) 2017 capital budget is $1.1 billion, almost double its 2016 figure. It estimates that 96% of its total budget will be spent in its core Williston Basin and DJ (Denver-Julesburg) Basin (Redtail) regions. Increased focus on the Bakken and DJ Whiting has been increasing its focus on […]
These Upstream Stocks Have the Highest Short Interest
California Resources’ short-interest-to-equity-float ratio has risen 51.8% over the last three months.
Will Russia and OPEC Join Hands and Cut Crude Oil Production?
OPEC may be considering joining hands with Russia in collective production cuts to stabilize oil prices. However, a collective oil production cut may be unviable because of the tussle for market share at the individual level.
Must-know: Why energy investors monitor crude oil inventories
Analysts had expected a drop of 1.5 million barrels (mmbbls) in crude inventories last week. The following parts will cover actual changes in inventories.
Short Interest Trends in Whiting Petroleum Stock
On March 3, 2017, Whiting Petroleum’s (WLL) short interest ratio was ~11.2%. Its short interest ratio was ~12.6% at the beginning of the year.
Should Energy Investors Be Cautious with Oil-Weighted Stocks?
On March 7, US crude oil April futures fell 2.3% and closed at $61.15 per barrel. Here’s what you need to know.
What Happened to Apache’s Implied Volatility after Q4 Earnings
Apache’s (APA) current implied volatility is ~27.5%, ~5.3% lower than its 15-day average of 29%.
What Are Whiting Petroleum’s Updated Capex Plans for 2017?
In its 2Q17 earnings conference, Whiting Petroleum (WLL) lowered its capex forecast for 2017 from $1.1 billion to $950 million.
Continental Resources’ 4Q16 Earnings Better Than Expected
Continental Resources (CLR) reported its 4Q16 earnings on February 23, 2017. Its revenue was ~$550.0 million compared to the estimated $581.0 million.
Continental Resources’ 4Q16 Revenue and Profit Margin Trends
Continental Resources’ (CLR) 4Q16 revenue fell ~4.5% YoY (year-over-year). In comparison, its YoY revenue growth was -56.0% in 4Q15 and -23.0% in 3Q16.
Seasonal maintenance: Why refineries are slowly lowering inputs
Last week, refineries operated at 93.4 % of their capacity, or 0.4% higher than the week ended September 19.
What Does Wall Street Predict for CXO, PXD, MRO, and CLR?
Approximately 74% of Wall Street analysts tracking Pioneer Natural Resources surveyed have recommended a “buy” or equivalent, while ~18% have recommended a “hold.”
Whiting Petroleum’s Short Interest Trends
Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) is currently higher than it was a year ago, standing at ~13.34% in comparison to ~4.95%.
Continental Resources increases wells and production
From 2011 to 2013, the number of Continental Resources’ net wells has increased 68%, to 334. From 2011 to 2013, Continental Resources’ total oil and natural gas production more than doubled.
Iran’s Oil Production and Exports Could Help Crude Oil Bulls
Reuters surveys estimate that Iran’s crude oil production decreased by 20,000 bpd to 3.80 MMbpd in May—compared to the previous month.
What’s Driving Anadarko’s Stock Performance?
In this part, we’ll compare Anadarko Petroleum’s (APC) recent stock movements to movements in the broader market, crude oil prices, natural gas prices, and the US Dollar Index.
Why the inverted head and shoulder pattern is formed
The inverted head and shoulder pattern is the reverse of the head and shoulder pattern. It’s formed at the bottom of the downtrend.
Why downtrends and sideways trends impact investors
It’s advisable to sell stocks on bounces when the stock is in a downtrend. In a sideways trend, it’s advisable to buy stock at support levels and sell at resistance levels.
Enhanced takeaway solutions stabilize WTI-Bakken spread, positive outlook
Increased takeaway solutions from the booming Bakken region have helped differentials to close and stabilize.
Why a huge oil surge made Bakken slip a bit but still trade tight to Cushing
Bakken crude moved lower relative to WTI Cushing last week, but still trades tight, signaling sufficient takeaway capacity in the region.
WTI-Bakken spread closes back in to $3 per barrel, benefiting producers such as CLR
The spread between WTI Cushing crude and Bakken crude priced at Clearbrook closed by $1.50 per barrel last week, which was a short-term positive for producers in the region.
Why is the breakeven price of crude oil so important?
Knowing the breakeven price of crude oil is important when trying to figure out what OPEC needs in order to regain market share.
Why it’s important to know the crude oil extraction process
Before learning the costs components of crude oil extraction, let’s take a look at how producers extract crude oil from the ground.
How does the production cost of crude oil affect oil prices?
Recent consensus says the production cost of crude oil could range from $20 to $25 per barrel.
WTI-Bakken spread widened out last week, but still within $5/barrel range
Last week, Bakken differentials to WTI widened by $1/barrel as a refinery using Bakken crude in its slate went down for maintenance.
These Stocks Were the Weakest Upstream Performers Last Week
PVAC fell 16.3% last week amid weakness in crude oil and natural gas prices.
Continental Resources’ Stock Range before Its Earnings
The current implied volatility for Continental Resources (CLR) stock is ~39.46%, which is 0.81% higher than its 15-day average of ~39.14%.
Forecasting Apache’s Stock Price Range
The current implied volatility in Apache’s stock (APA) is ~37.79%. In comparison, the Energy Select Sector SPDR ETF (XLE) has an implied volatility of 17.8%.
Wall Street Analyst Sentiment for Whiting Petroleum Stock
Approximately 36.4% of Wall Street analysts rated Whiting Petroleum (WLL) a “buy” while 45.5% analysts rated it a “hold.”
What’s Apache’s Stock Price Forecast?
The current implied volatility in Apache’s stock (APA) is ~33.4%.
Whiting Petroleum’s Improving Cost and Efficiencies in the Bakken
Whiting Petroleum’s well completion costs are expected to fall 25% from $9.1 billion in 2014 to $6.8 billion at the midpoint in 2018.
Continental Resources’ 1Q18 Earnings and Revenues Beat Estimates
Continental Resources (CLR) revenues for 1Q18 totaled $1.14 billion, which beat analysts’ estimates of $1.05 billion.
These Oil-Weighted Stocks Diverged from Oil’s Decline
Between February 28 and March 7, our collection of oil-weighted stocks gained 3.1%, compared to a 0.8% decline in US crude oil April futures.
Who’s on Top in Upstream: Comparing Operating Cash Flows
In this series, we’ll look at the top ten upstream companies based on cash flow from operating activities during the first nine months of 2017.
Key Observations on Whiting Petroleum’s Performance in the Bakken
The Bakken region has one of the highest break-even oil prices near $55 per barrel.
Looking at the Short Interest Trends in Oasis Petroleum Stock
On September 1, 2017, Oasis Petroleum’s (OAS) short interest as a percentage of float, or its short interest ratio, was ~20.0%.
Whiting Petroleum Stock’s Short Interest Trends
Short interest in Whiting Petroleum (WLL) stock was ~19.8% on July 31, 2017.
What Do Analysts Expect for Continental Resources?
Around 33% of the analysts covering Continental Resources’ stock (CLR) have rated it a “buy” while another 33% have rated it a “strong buy.”
Oasis Petroleum’s Acreage Position in the Williston Basin
According to its investor presentation released on May 17, 2017, Oasis Petroleum (OAS) holds a premier acreage position in the Williston Basin. This series will look at what we can expect from Oasis this year.
How Has CLR Performed Compared to S&P 500 and Dow Jones?
Let’s take a look at Continental Resources’ (CLR) stock performance in comparison to the performances of the S&P 500 Index and the Dow Jones Oil & Gas Index since 2011.
A Glance at Continental Resources’ Financial Position
Continental Resources (CLR) had a net debt-to-annualized EBITDAX (earnings before interest, tax, depreciation, depletion, amortization, and exploration expenses) ratio of 2.5x in 4Q16.
A Look at Continental Resources’ Cost Trends
Along with increasing its operational efficiencies, Continental Resources (CLR) has been focusing on bringing down its costs.
What Are the Short Interest Trends in Whiting Stock?
On March 24, 2017, Whiting Petroleum’s (WLL) short interest ratio, or its short interest as a percentage of its float, was ~12.2%.
Analysts’ Recommendations for Whiting Petroleum
Approximately 39.5% of analysts have rated Whiting Petroleum (WLL) as a “buy,” while ~58% have rated it as a “hold.”
Predicting Whiting Petroleum’s Price Range
Currently, Whiting Petroleum has an implied volatility of ~56.8%. Whiting Petroleum’s peers Oasis Petroleum and Continental Resources have implied volatilities of ~49.5% and ~34%.
Looking at Well Cost Trends in the Eagle Ford
Drilling and completion costs In a March 2016 study, the EIA (U.S. Energy Information Administration) and IHS Global revealed that average well drilling and completion costs in major producing regions in the United States, including the Eagle Ford Shale, would decline. The study on well cost trends was based on data from 2006 through 2015. […]
What Analysts Recommend for Whiting Petroleum
About 38.5% of analysts covering Whiting Petroleum (WLL) stock have rated it a “buy,” while ~56.4% have rated it a “hold.”
What Do Analysts Recommend for Whiting Petroleum?
Approximately 38.5% of the analysts rated Whiting Petroleum as a “buy,” while ~56.4% rated it as a “hold.” The average broker target price is $14.09.
What Do Analysts Recommend for Whiting Petroleum?
Approximately 38.5% of the analysts rated Whiting Petroleum (WLL) as a “buy,” while ~56.4% rated it as a “hold.” The average broker target price is $14.28.
Analysts’ Recommendations for Whiting Petroleum
Approximately 38% of the analysts rated Whiting Petroleum (WLL) as a “buy” and ~56.4% rated it as a “hold.” The average broker target price is $14.28.
Why Continental Resources Stock Fell after 4Q16 Earnings
The day after Continental Resources’ (CLR) 4Q16 after-market earnings release on February 23, 2017, CLR stock fell ~3.4%.
What Analysts Recommend for Whiting Petroleum
Approximately 38.5% of analysts have rated Whiting Petroleum (WLL) a “buy,” and ~56.4% have rated it a “hold.”
What Do Analysts Expect for Whiting Petroleum?
Whiting Petroleum’s high target price stands at $23. Its low target price is $6.90, while its average target price is $14.21.
Whiting Petroleum: Will Its 4Q16 Earnings Be Positive?
Whiting Petroleum is expected to release its 4Q16 earnings on February 21, 2017, after the markets close. For 4Q16, its revenue estimate is ~$345 million.
Using Oasis Petroleum’s Implied Volatility to Forecast Its Stock Price
On February 6, 2017, Oasis Petroleum’s (OAS) implied volatility was ~52.5%, which was ~2% higher than its 15-day average of ~51.5%.
Apache Corp Stock: Gauging Wall Street Forecasts
The majority of analysts—approximately 61% —have rated Apache Corp (APA) a “hold.” The average target price of $65.59 for APA implies a return of ~13% over the next 12 months.
Can Concho Get a Boost in 4Q from Reliance Energy Acquisition?
Concho Resources (CXO) is expected to release its 4Q16 earnings on February 21, 2017. Its revenue estimate is higher than its revenues in the previous quarters.
Anadarko Petroleum’s Volatility Has Fallen Steeply since 2016
On February 1, 2017, Anadarko Petroleum’s (APC) implied volatility was 27.7%, about 1% lower than its 15-day average of ~28%.
Anadarko’s 4Q16 Earnings Fall in Line, Revenue Beats Estimates
Anadarko Petroleum (APC) reported its 4Q16 earnings on January 31, 2017. Anadarko’s 4Q16 revenue was ~$2.4 billion, compared to analysts’ estimate of $1.8 billion.