Carrizo Oil & Gas Inc
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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%.
Oilfield Services Stocks Were the Underperformers Last Week
Last week, oilfield services stock Noble (NE) fell the most among the stocks in the energy space. Other oilfield services stocks Ensco (ESV), Superior Energy Services (SPN), and Nabors Industries (NBR) had the second, third, and fourth largest declines among energy stocks, respectively, last week.
Oil Heading for Flat Weekly Close
On May 9, US crude oil June futures fell 0.7% and settled at $61.7 per barrel.
How Will EIA Data Impact Oil This Week?
On May 8, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
Futures Spread: Where Oil Price Sentiments Are Moving
On April 29, the US crude oil June 2019 futures closed ~$3 above the June 2020 futures. On April 22, the futures spread was at a premium of $3.9.
Top Gains in the Energy Sector Last Week
In the week ending on April 26, upstream stock Anadarko Petroleum (APC) rose the most among the stocks in the energy space.
Futures Spread: Oil Bulls Are Back
On April 22, the US crude oil June 2019 futures closed ~$3.9 above the June 2020 futures.
EIA Inventory Data: Impact on Oil
On April 24, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
Will Oil Extend Its Gains following China’s Latest Data Release?
Today at around 10:56 AM EDT, US crude oil May futures were $0.16 higher than their last closing price.
Oil: Futures Spread and Prices Are Diverging
On February 25, US crude oil April 2019 futures closed ~$1.8 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.
Which Oil ETFs Outperformed Oil Last Week?
Between February 11, 2016, and February 1, 2019, US crude oil active futures rose 110.8% from their 12-year low.
Weatherford International Outperformed the Energy Space
Weatherford International (WFT) outperformed the energy space for the second consecutive week.
Oil Might Feel Pressure from US-China Trade Talks on January 28
Between January 18 and January 25, US crude oil March futures fell 0.6% and closed at $53.69 despite a fall in the US dollar.
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-Weighted Stocks Could Be Influenced by Volatile Oil Prices
On December 19, US crude oil February futures rose 3.4% from the lowest closing level in more than a year and closed at $48.17 per barrel.
Futures Spread: OPEC’s Deal Might Not Impact Oil
On December 10, the futures spread was at a discount of ~$1.4. On December 10–17, US crude oil February futures fell 2%.
How Did US Crude Oil ETFs Perform Last Week?
On December 7–14, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 2.6% and 2.3%, respectively.
Upstream and Oilfield Services Stock Fell Last Week
On December 7–14, upstream stock Carrizo Oil & Gas (CRZO) fell the most on our list of energy stocks.
Which Oil-Weighted Stocks Might Be Most Affected by OPEC Meeting?
On December 5, US crude oil January futures fell 0.7% and closed at $52.89 per barrel.
US Crude Oil below $60 Might Harm Oil-Weighted Stocks
On November 14, US crude oil December futures rose 1% and closed at $56.25 per barrel.
Oil-Weighted Stocks at Maximum Risk, Oil Declines
On October 17, US crude oil November futures fell 3% and closed at $69.75 per barrel—below $70 for the first time since September 18.
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.
Weakest Upstream Stocks in the Week Ending September 28
Southwestern Energy (SWN) was the weakest upstream stock in the week ending September 28. Southwestern Energy fell 10.8% last week.
The Big Push for Oil this Year
Between September 14 and 21, US crude oil November futures rose 2.9% and closed at $70.78 per barrel. Let’s take a closer look.
Why Laredo Petroleum Is Surging Today
Laredo Petroleum (LPI) stock is up more than 9% on strong volumes. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is up ~1.5%.
A Look at E&P Stocks’ Rating Updates Last Week
Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week.
Where US Crude Oil Prices Could Close Next Week
On August 9, US crude oil’s implied volatility was 23.1%, which was ~1.3% below its 15-day average.
Apache Stock: What Are Analysts’ Recommendations?
On June 11, Argus upgraded Apache stock from “hold” to “buy.” On March 7, UBS initiated coverage on Apache stock with a “sell” rating.
Oil Inventory Data: Possible Scenarios
According to the EIA’s report released on July 5, US crude oil inventories rose by ~1.2 MMbbls to ~417.9 MMbbls in the week ending June 29.
An Important Note to Investors in Oil-Weighted Stocks
On July 3, US crude oil August futures rose 0.3% and closed at $74.14 per barrel.
What’s Causing Oasis Petroleum’s Stock Rise?
Oasis Petroleum (OAS) stock rose significantly in the run-up to the company’s Q1 2018 earnings release in early May, which didn’t disappoint.
Key Events for the Oil Market This Week
OPEC members’ meeting is scheduled for June 22. The meeting will likely be the most important event for oil prices this week.
Can US Crude Oil’s Recovery Be Sustained?
On June 11, US crude oil July futures rose 0.5% and settled at $66.10 per barrel.
What Could Influence Oil This Week?
The EIA’s Short-Term Energy Outlook Report to be released on June 12 could be important for oil as well as natural gas prices.
A Fall in Oil Inventories Might Support Oil’s Rise
According to the EIA’s report released on May 16, US crude oil inventories fell by ~1.4 MMbbls to ~432.4 MMbbls in the week ending May 11.
Is EP Energy Increasing Its Focus on Eagle Ford?
In February, EP Energy (EPE) announced that it had closed the acquisition of Carrizo Oil & Gas’s (CRZO) Eagle Ford assets.
Global Oil Supply after the US Exits the Iran Nuclear Deal
On May 10, the United States Oil ETF (USO) rose 0.3%. On May 3–10, US crude oil June futures rose 4.3%.
Are Oil-Weighted Stocks Inversely Related to Oil Prices?
On May 9, US crude oil June futures rose 3% and closed at $71.14 per barrel—more than the three-year high.
US Crude Oil Inventory Data: What to Expect
In the week ending April 20, US crude oil inventories rose by ~2.17 MMbbls (million barrels) to ~429.7 MMbbls.
Are Oil-Weighted Stocks Rising Faster than Oil?
Between February 11, 2016, and April 11, 2018, US crude oil active futures rose 154.9% from their 12-year low.
Are Oil-Weighted Stocks and US Crude Oil Deviating?
Between February 11, 2016, and April 4, 2018, US crude oil active futures rose 141.8% from their 12-year low.
Are Oil-Weighted Stocks Falling More than Oil?
Between February 11, 2016, and March 28, 2018, US crude oil active futures rose 145.6% from their 12-year low.
Wall Street’s Targets for the Worst-Performing Upstream Stocks
We’ll now look at Wall Street’s recommendations for the worst performers in 2018 from the US oil and gas production, or upstream, sector.
Which Energy Stocks Fell More than the Oil Market Last Week?
On February 23–March 2, 2018, upstream stock California Resources (CRC) was the largest loser on our list of energy stocks.
Will the US Dollar and Inventories Impact Crude Oil Futures?
March US crude oil (DBO) (UWT) futures contracts increased 1.8% to $65.61 per barrel on January 24, 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.
US Gasoline Inventories: More Concerns for Oil in 2018?
US gasoline inventories rose by 4.1 MMbbls (million barrels) to 237.3 MMbbls between December 29, 2017, and January 5, 2018.
Implied Volatility of Top 5 Return on Equity Upstream Stocks
Carrizo Oil & Gas (CRZO) has the highest implied volatility among its peers, while Devon Energy (DVN) has the lowest implied volatility.
The Top 5 Upstream Companies Based on Return on Equity
The company with the highest trailing 12-month ROE (return on equity) as of 3Q17 is Carrizo Oil & Gas (CRZO) with an ROE of 52.1%.
Northern Oil and Gas Leads Upstream Gainers This Week
In the week starting January 1, Northern Oil and Gas (NOG) increased from last week’s close of $2.05 to $2.54 on January 2, a significant increase of ~24%.
A Look at Breakeven Prices and Trends i n Eagle Ford Well
According to IHS, the top quintile wells are dominated by EOG Resources (EOG), Marathon Oil (MRO), and ConocoPhillips (COP).
Are Oil-Weighted Stocks Outperforming Oil due to Tax Overhaul?
Between February 11, 2016, and December 20, 2017, US crude oil active futures saw a gain of 121.6%.
Where Whiting Petroleum Stands Next to Peers
Whiting Petroleum’s (WLL) forward EV-to-EBITDA multiple of ~5.4x is mostly in line with the peer average of 5.5x.
US Crude Oil Inventory Report Might Disappoint Traders
An unexpected increase in US oil inventories pressured WTI oil (USO) (UCO) prices in post-settlement trade on November 28, 2017.
Hedge Funds Cut Their Net Long Positions before OPEC’s Meeting
Hedge funds cut their net bullish positions on US crude oil futures and options by 5,872 contracts or 1.7% to 343,840 contracts on November 14–24, 2017.
These Energy Stocks Gained the Most Last Week
Last week (ended November 3), oilfield stocks CARBO Ceramics and Weatherford International ranked first and second on our list of top energy gainers.
Are Oil-Weighted Stocks Rising More Than Oil?
From October 23–30, 2017, the oil-weighted stocks we’re covering in this series rose 6%, which was 1.7 percentage points more than the gains of US crude oil (USO) (DBO) December futures.
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.
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.
Upstream Gainers this Week: Jones Energy Leads
In this part of our series, we’ll look at the top-percentage gainers from the oil and gas production—or upstream—sector in the United States this week.
What US Crude Oil Production’s 26-Month High Could Mean
On September 27, 2017, the EIA estimated that US crude oil production rose 37,000 bpd (barrels per day) to ~9.5 MMbpd from September 15–22, 2017.
How OPEC’s Spare Crude Oil Production Capacity Is Recovering
The EIA estimates that OPEC’s spare crude oil production capacity rose 35,000 bpd (barrels per day) to 2 MMbpd (million barrels per day) in August 2017.
Whiting Petroleum Was the Top Energy Gainer Last Week
On September 8–15, 2017, upstream company Whiting Petroleum (WLL) outperformed the energy sector stocks.
Why US Distillate Inventories Fell for the 2nd Week Straight
The EIA (U.S. Energy Information Administration) estimates that US distillate inventories fell by 3.2 MMbbls (million barrels) to 144.5 MMbbls from September 1 to 8.
Will US Gasoline Demand Impact Gasoline and Crude Oil Futures?
The EIA estimates that weekly US gasoline demand rose 107,000 bpd (barrels per day), or 1.1%, to 9.6 MMbpd between August 11 and August 18.
Oil Fell: Which Oil-Weighted Stocks Are at Risk?
On August 28, 2017, US crude oil (USO) (DBO) October futures closed at $46.57 per barrel—below the past ten-day trading range of $47–$50 per barrel.
Cushing Inventories Fell 8 Times in 10 Weeks
A market survey estimates that Cushing inventories fell between August 18 and August 25, 2017. Cushing inventories fell for the eighth time in ten weeks.
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.
Global Oil Demand and Crude Oil Price Forecasts
In June 2017, global oil demand growth rose by 1.54 MMbpd YoY. Global oil demand was strong between May and June 2017, according to Goldman Sachs.
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.
US Distillate Inventories Fell for the Third Consecutive Week
The EIA released its weekly crude oil and gasoline inventory report on August 2. US distillate inventories fell 0.1% to 149.4 MMbbls on July 21–28.
US Crude Oil Production Reached a 2-Year High
The EIA estimates that US crude oil production rose by 20,000 bpd or 0.2% to 9,430,000 bpd on July 21–28, 2017. Production is at a two-year high.
Problems for Crude Oil Bulls as OPEC Production Hits 2017 High
September US crude oil futures contracts rose 0.20% and were trading at $50.29 per barrel in electronic trading at 1:35 AM EST on August 1, 2017.
US Gasoline Inventories Are below the 5-Year Range
A better-than-expected fall in gasoline inventories supported gasoline futures on July 26, 2017. Prices rose 1.3% to $1.61 per gallon on July 26, 2017.
Why Oil Outdid Oil-Weighted Stocks in the Trailing Week
Between July 17 and 24, 2017, our list of oil-weighted stocks on average dipped 2.4% compared to a 0.2% rise in US crude oil (USO)(DBO) September futures.
US Crude Oil Production Could Hit a Record
The EIA reported that US crude oil production rose by 32,000 bpd (barrels per day) to 9,429,000 bpd on July 7–14, 2017. Production is at a two-year high.
Will US Crude Oil Prices Outperform in 2H17?
WTI crude oil (BNO) (PXI) (UCO) (XOP) prices have fallen 18% year-to-date. They have fallen 7% in the past year due to bearish drivers.
Wall Street Analysts’ Recommendations for Carrizo Oil & Gas
Approximately 31% of Wall Street analysts have rated Carrizo Oil & Gas (CRZO) as a “buy,” and ~54% have rated it as a “strong buy.”
Analyzing Recent Trends in Carrizo Oil & Gas Stock
In this article, we’ll compare CRZO’s recent stock price movements to movements in the broader market, the broader energy sector, crude oil prices, and natural gas prices.
Carrizo Oil & Gas: An Eagle Ford Company
Carrizo Oil & Gas (CRZO) holds 103,000 net acres and over 1,200 net undrilled locations in the Eagle Ford Shale.
How Is Carrizo Oil & Gas’s Recent Delaware Deal Valued?
As we saw in the previous article, Carrizo Oil & Gas (CRZO) has agreed to pay $648 million to ExL Petroleum Management for acreage in the Delaware Basin.
Carrizo Oil and Gas Enhances Its Delaware Basin Position
On June 28, 2017, Carrizo Oil & Gas (CRZO) announced its intention to acquire properties owned by ExL Petroleum Management in the Delaware Basin.
US Gasoline Demand: Positive or Negative for Crude Oil?
The EIA (U.S. Energy Information Administration) estimates that weekly US gasoline demand rose by 547,000 bpd or 6% to 9,816,000 bpd on June 9–16, 2017.
A Glance at Future Prospects for the Crude Oil Market
ETF Securities Outlook: Crude Oil OPEC’s decision to extend its production cuts through March 2018 was met with disappointment in markets. While this is a positive sign for the global crude market which continues to rebalance from a multi-year supply glut, expectations of continued US productions will remain in focus. There have been encouraging signs […]
Are Oil-Weighted Stocks Outperforming Crude Oil?
Between June 5 and June 12, 2017, US crude oil active futures fell 2.8%. However, a basket of equally weighted oil stocks rose 1.0%.
Cushing Crude Oil Inventories Fell Again
A recent survey estimated that inventories at Cushing could have fallen on June 2–9, 2017. Inventories at Cushing fell for the seventh time in ten weeks.
Libya’s Crude Oil Production Could Rise in June
Reuters surveys estimate that Libya’s crude oil production rose by 180,000 bpd (barrels per day) to 730,000 bpd in May 2017—a three-year high.
OPEC’s Crude Oil Production: Key for Crude Oil Traders?
A Bloomberg survey estimates that OPEC’s crude oil production rose by 315,000 bpd to 32.21 MMbpd in May 2017—compared to the previous month.
Are OECD and US Crude Oil Inventories Seeing a Change in Momentum?
On May 31, 2017, the API (American Petroleum Institute) will release its weekly crude oil inventory report.
Iran and Iraq’s Role in OPEC’s Meeting
The EIA estimates that Iran’s crude oil production was flat at 3.81 MMbpd in April 2017—compared to March 2017. Production rose 8.8% YoY.
OECD’s Crude Oil Inventories Are near a 5-Month Low
The EIA estimates that OECD’s crude oil inventories fell by 5.74 MMbbls (million barrels) to 3,027 MMbbls in April 2017—compared to March 2017.
Could Bearish Drivers Halt US Crude Oil Price Recovery?
June WTI (West Texas Intermediate) crude oil (IXC) (IYE) (USO) futures contracts have risen ~5% from their five-month low as of May 15, 2017.
Cushing Crude Oil Inventories Fell for 3rd Consecutive Week
Market surveys estimate that Cushing crude oil inventories rose between April 28 and May 5, 2017.
What Analysts Are Saying Now about Southwestern Energy
As of May 2, 40 analysts have given recommendations on SWN, including five “strong buys,” five “buys,” 27 “holds,” two “sells,” and one “strong sell.”
Which Oil-Weighted Stocks Could Outdo Crude Oil?
In this part of the series, we’ll look at the returns of an equally weighted basket of oil stocks that operate with production mixes of at least 60.0% in crude oil (DBO) (USL).
Near-Record US Crude Oil Inventory: Will Oil Blood Bath Continue?
June WTI crude oil futures contracts fell 0.40% and were trading at $48.68 per barrel in electronic trade at 2:35 AM EST on May 2, 2017.
Wall Street’s Pre-Earnings Ratings for Marathon Oil
Marathon Oil’s (MRO) median target price from its analyst recommendations is $20.00, which is ~31% higher than the company’s April 26, 2017, closing price of $15.31.
Understanding the Pre-Earnings Recommendations for Occidental Petroleum
OXY’s recommendations include three “strong buys,” four “buys,” 16 “holds,” and two “sells.” There is currently no “strong sell” recommendation on the stock.
Understanding Wall Street’s Pre-Earnings Ratings of ConocoPhillips
As of April 26, 24 analysts are providing recommendations on ConocoPhillips. These include seven “strong buys,” 11 “buys,” and six “holds.”
