California Resources Corporation
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Will Oil Continue Its Upside After EIA Data?
Since the EIA released its inventory data on July 17, US crude oil September futures have fallen 1.2%.
Analyzing the EIA’s Oil Inventory Data and Key Spreads
Since the EIA released its inventory data last Wednesday, US crude oil August futures have risen 0.6%.
Why Morgan Stanley Has Slashed Oil’s Price Forecast
On July 2, Morgan Stanley (MS) reduced its long-term price forecast for Brent crude oil by $5 to $60 per barrel.
Which Oil-Weighted Stocks Were the Ouperformers?
Whiting Petroleum might report positive earnings this quarter compared to an adjusted net loss of $0.16 per share last quarter. On June 24, Suntrust Robinson reduced its target price on Whiting Petroleum by $5 to $35.
EIA Inventory Data Might Not Be Bullish for Oil
On June 26, the EIA is scheduled to announce last week’s US crude oil inventory data. A fall of equal to or more than ~7 million barrels could help the inventories spread contract. A Reuters poll suggests a fall of 2.9 MMbbls.
US-Iran Tension: What Does It Mean for Oil?
After Iran shot down a US drone, US crude oil August futures rose 5.7% on June 20 and settled at $57.07 per barrel. In the trailing week, US crude oil active futures rose 8.6%.
Which Oil-Weighted Stocks Are Sensitive to Oil Prices?
California Resources and Oasis Petroleum were the outperformers among oil-weighted stocks. California Resources had the second-highest correlation with US crude oil prices in the last three months.
Oil Traders: What to Expect before the EIA’s Data
On June 19, the EIA is scheduled to announce last week’s US crude oil inventory data. A fall of equal to or more than 7.1 million barrels could help the inventories spread contract. A Reuters poll suggests a fall of 2.033 million barrels.
EIA Inventory Data Seems to Bring More Trouble for Oil
In the week ending on May 31, US crude oil inventories were 6% higher than their five-year average.
US Crude Oil Heading for Highest Weekly Loss in 2019
At 6:48 AM EST on May 24, US crude oil active futures were at $58.52, which is ~6.7% below the closing level the previous week.
Will Any Fall in EIA Data Substantiate Oil’s Upside?
In the week ending May 10, US crude oil inventories were 2% above their five-year average.
Analyzing the Top Energy Gainers Last Week
In the week ending May 17, midstream stock NGL Energy Partners (NGL) rose the most among the stocks in the energy space.
Tension in the Middle East: Oil Heading for Weekly Gain
At 5:56 AM EST on May 17, US crude oil active futures were at $63.32, which is ~2.7% above the closing level the previous week.
Upstream Stocks Were the Energy Space’s Top Gainers Last Week
In the week that ended on April 5, upstream stock Denbury Resources (DNR) rose the most among the stocks in the energy space.
Upstream Stocks Outperformed the Energy Space
In the week ending March 22, upstream stock Denbury Resources (DNR) rose the most among the energy stocks under review in this series.
Analyzing Energy Underperformers Last Week
In the week ending March 1, oilfield services stock Weatherford International fell the most among the energy stocks under review in this series.
Futures Spread: Less Bearish Sentiments for Oil Prices
On February 19, US crude oil April 2019 futures closed ~$1.9 below the April 2020 futures.
EIA Data Might Be Neutral for Oil Prices
On February 21, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
Will US Crude Oil Prices Surpass $54?
On January 28, US crude oil hit an intraday high of $53.64. Over the last six trading sessions, US crude oil prices have struggled to surpass the $54 level.
Did Oil-Tracking ETFs Underperform Oil Last Week?
USO holds active US crude oil futures, while USL holds US crude oil futures deliverable for each of the next 12 months.
Futures Spread: Less Bearish Sentiments for Oil?
On January 7, US crude oil February 2019 futures closed ~$3.1 below the February 2020 futures.
Oil ETFs Rose More than Oil Last Week
Between December 28 and January 4, the United States Oil ETF (USO), United States 12-Month Oil ETF (USL), and ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 6.8%, 7.4%, and 14%, respectively.
Why Certain Oil-Weighted Stocks Outperformed Last Quarter
In the fourth quarter, our list of oil-weighted stocks fell 44.2%—compared to the 39.7% fall in US crude oil February futures.
Oil Wasn’t the Only Catalyst for Oil-Weighted Stocks
The high correlation indicates a stronger positive relationship between oil-weighted stocks and US crude oil prices.
Oil’s Futures Spread: An Interesting Divergence
On December 31, US crude oil February 2019 futures closed ~$3.2 below the February 2020 futures.
Oil Futures Spread: Why the Divergence Is Interesting
On November 19, US crude oil January 2019 futures closed ~$0.7 below the January 2020 futures.
Rising Inventories Spread Might Drag Oil Prices
In the week ending on November 2, US crude oil inventories were 3% above their five-year average.
Which Oil-Tracking ETFs Outperformed US Crude Oil’s Fall?
On October 26–November 2, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 7.1% and 6.4%, respectively.
Futures Spread Nearing Discount: US Crude Sentiment Might Reverse
On October 22, US crude oil December 2018 futures closed just ~$0.6 above the December 2019 futures.
Oil ETFs Outperformed Oil’s Fall Last Week
On October 5–12, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) both fell 3.6%.
Will US Crude Oil Erase Last Week’s Losses?
On October 5–12, US crude oil November futures fell 4% and closed at $71.34 per barrel on October 12.
What Goldman Sachs Thinks about Oil
Between December 28 and January 4, US crude oil February futures rose 5.8% and closed at $47.96.
Weakest Upstream Stocks in the Week Ending October 5
Ring Energy (REI) was the weakest upstream stock in the week ending October 5. Ring Energy fell 17.4% last week.
Futures Spread Indicates Bullishness for Oil Prices
Yesterday, US crude oil November 2018 futures closed ~$3.48 above November 2019 futures, and between September 17 and yesterday, US crude oil November futures rose 5%.
Why Inventory Data Might Boost Oil Prices
In the week ended August 31, 2018, US crude oil inventories were almost on par with their five-year average.
How Oil ETFs Performed amid Oil’s Fall Last Week
Between August 31 and September 7, the United States Oil ETF (USO) fell 2.9%, and the United States 12-Month Oil ETF (USL) fell 2.4%.
Here’s Why Upstream Underperformed the Energy Space
Between August 31 and September 7, upstream stock Southwestern Energy Company (SWN) fell the most on our list of energy stocks.
Will the Fall in Oil Prices Continue This Week?
Between August 31 and September 7, US crude oil October futures fell 2.9% and closed at $67.75 per barrel on September 7.
These Stocks Were the Weakest Upstream Performers Last Week
PVAC fell 16.3% last week amid weakness in crude oil and natural gas prices.
Oil-Weighted Upstream Stocks: Outlier in the Energy Space
On August 24–31, upstream stock California Resources (CRC) saw the highest gain on our list of energy stocks.
Can California Resources Continue to Rise?
California Resources (CRC) continues to trade below its short-term (50-day) moving average despite its recent rally.
Top E&P Gainers for the Week That Ended on August 24
California Resources (CRC) was the top E&P (exploration and production) gainer in the week that ended on August 24, with a week-over-week rise of 22.2%.
Is $70 Possible for US Crude Oil Next Week?
On August 23, 2018, US crude oil’s implied volatility was 22%, ~6% below its 15-day average.
Weakest E&P Stocks for the Week Ending August 17
Alta Mesa Resources (AMR), which is primarily focused in the STACK region, was the weakest E&P company in the week ending August 17.
What’s the Forecast for Southwestern Energy Stock?
As of July 25, Southwestern Energy (SWN) had an implied volatility of ~50.0%, which is lower when compared with its implied volatility of ~50.9% at the end of the second quarter of 2018.
A Look at CNX Resources’ Stock Price Forecast
As of July 26, 2018, CNX Resources (CNX) had an implied volatility of ~37.2%, which is lower when compared with its implied volatility of ~39.1% at the end of Q2 2018.
Where EOG Stock Could Settle prior to Its Q2 2018 Results
On July 24, EOG Resources had an implied volatility of ~26.4%, lower than its implied volatility of ~27.5% at the end of the second quarter.
Analyzing EOG Resources’ Q2 2018 Revenue Expectations
For the second quarter, Wall Street analysts expect EOG Resources (EOG) to report revenue of ~$3.91 billion.
What Analysts Recommend for CRC, Pre-Q2 Earnings Release
Of the seven analysts covering California Resources (CRC) on July 23, ~14% recommended “strong buy,” ~14% recommended “buy,” and ~72% recommended “hold.”
Could California Resources Report Lower Losses in Q2 2018?
California Resources (CRC) is expected to report its Q2 2018 results on August 2, after the market closes.
