Concho Resources Inc
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Range Resources: A Look at Its Institutional Holdings
Range Resources (RRC) reported adjusted EPS of -$0.07 in the third quarter. Let’s talk about institutional investor activity in RRC in the quarter.
Upstream Stocks: The Top Movers of 2019
In 2019 so far, upstream energy companies Hess Corporation (HES) and Noble Energy (NBL) have risen 61.8% and 15.1%, respectively.
Whiting Petroleum Sees Yearlong Decline
Whiting Petroleum (WLL) announced its Q2 2019 earnings results on July 31. The company’s stock prices fell 38.2% and touched a new yearlong low.
Concho Resources’ Target Price Cut by Credit Suisse
On August 1, Credit Suisse and TD Securities reduced their target prices on Concho Resources (CXO) stock by $15 to $105 and $100, respectively.
Concho Resources and Denbury Resources Buck Oil’s Rise
All of the oil-weighted stocks except Concho Resources (CXO) and Denbury Resources (DNR) ended in the green. Concho Resources was unchanged, while Denbury Resources fell 0.8%.
How Brent-WTI Spread Is Affecting Oil Exports and Energy Stocks
The widening gap between Brent and WTI crude oil prices could benefit US crude oil exporters.
Brent-WTI Spread Impacts Energy Sector Movements
On April 8, Goldman Sachs wrote in a note that it expects Brent crude oil and US crude oil to average ~$66 and $59.50 per barrel in 2019.
Occidental Petroleum: Analysts’ Ratings before Its Q1 Earnings
Among the 26 analysts tracking Occidental Petroleum (OXY), 62% recommended a “buy,” while 38% recommended a “hold.”
What to Expect from ConocoPhillips’ Q1 Earnings
ConocoPhillips’ (COP) adjusted EPS might fall ~24% in the first quarter on a sequential basis based on analysts’ consensus estimate.
US Oil Supply Might Not Impact Oil Much
On April 10, US crude oil May futures rose 1% and closed at $64.61 per barrel—the highest closing level since November.
Is Oil Getting Riskier?
On April 3, US crude oil May futures declined just 0.2% and closed at $62.46 per barrel.
Barclays Expects Higher Oil Prices in the Second Quarter
On March 28, Barclays wrote in a note that it expects Brent crude oil and US crude oil to average around $73 and $65 per barrel in the second quarter of 2019, respectively.
Will US Oil Exports Continue to Rise?
On March 25, Brent crude oil May futures settled ~$8.4 higher than the WTI crude oil May futures. On March 18, the spread was ~$8.2.
Why Apache’s Earnings Could Fall More than 60%
Apache (APA) is set to announce its fourth-quarter earnings results on February 27. Based on analysts’ consensus estimates, its adjusted earnings per share could fall 61.9% on a sequential basis.
Oil: Futures Spread and Prices Are Diverging
On February 25, US crude oil April 2019 futures closed ~$1.8 below the April 2020 futures.
Analysts Cut Price Target on Concho Resources
On February 20, Concho Resources (CXO) fell 7.1%.
Brent-WTI Spread Impacts US Upstream Stocks
On February 19, Brent crude oil April futures settled ~$10 higher than WTI crude oil April futures—near its four-month high.
Pioneer Natural Resources: Key Price Points in February
On February 19, Pioneer Natural Resources’ (PXD) implied volatility was 28.8%, which is ~19.6% lower than its 15-day average.
Cimarex Energy: Analysts’ Recommendations and Target Price
The mean target price for Cimarex Energy in the next year is ~$97, which implies a potential upside of ~27.7% from its last closing level.
Why ‘Buy’ Recommendations for Concho Resources Have Increased
Of the 36 analysts tracking Concho Resources, 89% have given the stock “buys,” 11% have given it “holds,” and none have given it “sells.”
ConocoPhillips Stock Rises following Its Q4 Earnings Results
On January 31, ConocoPhillips (COP) reported adjusted EPS of $1.13 for the fourth quarter, a fall of 17% on a sequential basis.
Oil Might Push Hess’s EPS into Negative Territory
Hess Corporation (HES) is scheduled to report its fourth-quarter earnings results on January 30.
Oil’s Bullishness Rises after Inventory Data Release
Yesterday, US crude oil March 2019 futures closed ~$2.07 below March 2020 futures.
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.
Goldman Sachs: Trump’s Love for Cheap Oil Could Cost Oil Drillers
Jeff Currie, Goldman Sachs’ (GS) commodities’ head, told CNBC that oil’s fall to $50 will hurt US oil producers.
Top Upstream Gainers in the Trailing Week
On November 12–19, upstream stock Concho Resources (CXO) gained the most on our list of upstream energy stocks.
A Look at ConocoPhillips’ Operational Metrics
COP’s total natural gas production has fallen 6.4% from Q3 2017.
Energy & Utilities Which Oil ETFs Fell Less than Oil Last Week?
On November 2–9, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 4.6% and 3.8%, respectively.
Diamondback Energy’s Pro Forma Permian Production versus Peers
Diamondback Energy expects its 2018 production to lie between 115.0 Mboepd and 119.0 Mboepd.
Crude Oil Prices: Is More Downside Possible?
The API reported that US crude oil inventories rose by 5.6 MMbbls (million barrels) on July 20–27.
WTI Cushing–WTI Midland Spread at Highest Level since August 2014
The Brent-WTI Midland spread reached $23.11 per barrel on May 31, which was its highest level since August 2014.
Factors Keeping US Crude Oil below the $70 Mark
US crude oil September futures closed at $68.69 per barrel on July 27—the fifth straight closing below $70.00 per barrel.
What Analysts Recommend for Hess Stock
Approximately 52% of analysts covering Hess (HES) recommend “hold,” ~43% recommend “buy,” and 5% rate it as “underperform.”
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%.
Using Implied Volatility to Forecast Oasis’s Stock Price Range
Oasis Petroleum (OAS) stock’s current implied volatility is ~ 50.22%, which is ~2.08% higher than its 15-day average of 49.19%.
What Are Analysts’ Views on Whiting Petroleum Stock?
Of the analysts covering Whiting Petroleum (WLL) stock, 36.4% recommend “buy,” 45.5% recommend “hold,” and 12% have rated it as “underperform.”
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%.
What Has Been Driving Apache Stock Lately?
Apache (APA) stock hasn’t risen as much as its peers this year. On a YoY (year-over-year) basis, Apache stock has declined 6.85%.
What’s the Forecast for Oasis Stock ahead of Q2 Earnings?
Oasis Petroleum (OAS) stock has a current implied volatility of ~50.2%, which is ~1.95% higher than its 15-day average of 49.26%.
What to Expect from Oasis Petroleum’s Q2 2018 Earnings
Oasis Petroleum (OAS) is expected to release its second-quarter earnings on August 1.
WTI Cushing–WTI Midland Spread Drops from Multiyear High
The WTI Cushing-WTI Midland spread was $11.25 per barrel on July 16, compared to $13.25 per barrel on July 9.
Iran Running Out of Options: Could Oil Spike?
From June 29 to July 6, US crude oil August futures fell 0.5%. On July 6, US crude oil August futures settled at $73.80 per barrel.
Are Hedge Funds Buying COG, XEC, WMB, CXO, and HAL?
In Q1 2018, hedge funds increased their aggregate holdings in Cimarex Energy, Williams Companies, and Concho Resources by 12.66%, 22.73%, and 71.02%, respectively.
Concho Resources: The Fourth-Lowest Energy Performer in XLE
In the first half of 2018, CXO fell from its 2017 close of $150.22 to $138.35—a moderate decrease of ~8.0%.
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.”
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 the Oil Futures Market Saying?
On July 2, US crude oil August futures closed ~$10 above the August 2019 futures contract. On June 25, the futures spread was at a premium of $5.4.
The Price of WTI Oil Hits $70 per Barrel: Are the Bulls Back?
US crude oil inventories fell 9.2 MMbbls (million barrels) to 421.4 MMbbls from June 15–22.
What’s Apache’s Stock Price Forecast?
The current implied volatility in Apache’s stock (APA) is ~33.4%.
What Could Be Holding Back Apache Stock?
Apache stock (APA) has fallen 6.6% year-over-year driven by lackluster first-quarter earnings and increasing price differentials in the Permian.
