Devon Energy Corp
ConocoPhillips’s 1Q17 Crude Oil Price Underperforms WTI
ConocoPhillips’s 1Q17 crude oil realized prices In 1Q17, excluding the effect of hedges, ConocoPhillips’s average realized crude oil price in the Lower 48 region was $45.89 per barrel, up ~70% from its price of $27.04 per barrel in 1Q16. Sequentially, ConocoPhillips’s 1Q17 price is ~4% higher than it was in 4Q16. Crude oil prices versus […]
Understanding EOG Resources’ Q2 2018 Production Guidance
For the second quarter, EOG Resources expects total production in the range of 670.3–706.2 Mboepd (thousand barrels of oil equivalent per day).
Analyzing Denbury Resources’ 1Q16 Earnings Call
For 1Q16, Denbury Resources (DNR) reported an adjusted EBITDA of ~$105 million with an EBITDA margin of ~40%. Its EBITDA margin is only ~20% lower.
EIA Natural Gas Inventory Report – Important for Energy Investors
Analysts expected a natural gas inventory draw of 51 billion cubic feet (or Bcf) last week.
Why Has Denbury Resources Been Underperforming Crude Oil?
In the last month, crude oil producer Denbury Resources (DNR) has seen its stock price underperform crude oil (USO) and natural gas (UNG) prices.
Which Upstream Stocks Are More Sensitive to Crude Oil?
In the last three months, Abraxas Petroleum (AXAS) has had the highest positive correlation with WTI crude oil among upstream companies that are part of XOP.
Must-know: Environmentalists’ views on coal and natural gas
Natural gas has gained market share for use in power generation. Learn about the drivers of this trend and the consequences of increased natural gas use.
How Does Devon Energy’s Relative Valuation Compare to Its Peers’?
Devon Energy (DVN) has a forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) ratio of ~13x.
Why cold weather warms natural gas investors
Last week, natural gas prices didn’t increase despite forecasts for cooler weather. The forecast called for weather that would be cooler, but not cold enough to cause freezing temperatures.
Most Analysts Recommend a ‘Buy’ for Anadarko Petroleum Stock
About 76% of the analysts covering Anadarko Petroleum (APC) have rated the stock a “buy,” and 21% have rated it a “hold.”
What Devon Energy’s Implied Volatility Could Say about Its Stock Price
On May 18, 2017, Devon Energy (DVN) had an implied volatility of ~33.9, which is ~14.9% below its 260-trading day historical price volatility of ~39.9%.
What Are the Expectations for Concho Resources’ 4Q15 Earnings?
Concho Resources (CXO) will release its 4Q15 earnings on February 25, 2016. The estimate for 4Q15 revenue is ~$592.4 million. Revenue in 4Q14 was ~$692.4 million.
Inside Marathon Oil’s Stock Performance Last Week
Marathon Oil’s stock price fell from $15.91 to $15.16 last week, while crude oil prices fell from $53.18 per barrel to $49.62 per barrel.
What Has Hedging Done for Range Resources?
In 1Q16, natural gas hedging activities increased Range Resources’ (RRC) average realized natural gas price by $0.91 per Mcf (thousand cubic feet).
Key insight: Why natural gas prices remain bearish
Natural gas prices started the week by falling ~2.4% to $3.67 MMBtu (million British thermal units) on Monday. This was the lowest close in 11 months.
Natural Gas Prices Slump due to Increasing Inventory Data
Natural gas futures for July delivery slumped by 4.95% on Thursday. Natural gas prices declined due to rising inventory data. It continued its losing streak.
Must-know points of Devon Energy’s plan to develop the Eagle Ford
Devon plans to rapidly grow production in the Eagle Ford over the next few years.
Denbury Resources’s Capital Expenditure Guidance
For fiscal 2016, Denbury Resources (DNR) plans to spend ~$200 million in capital expenditure, which is ~51% lower when compared with fiscal 2015 capital expenditure of ~$407 million.
What Just Happened to ConocoPhillips Stock?
Last week (ended May 26), crude oil prices fell from $50.67 per barrel to $49.80 per barrel.
Drill Down into California Resources’ 2Q17 Operational Performance
For 2Q17, California Resources (CRC) reported total production of 129 Mboepd, which is below the midpoint production guidance of 128 Mboepd to 133 Mboepd.
How Has Concho Resources’ Stock Fared ahead of 4Q15 Earnings?
As 2015 came to a close, Concho Resources’ (CXO) stock started falling. CXO has fallen ~21% since February 2015.
Must-know: Crucial months unfold for natural gas prices
In its Short-Term Energy Outlook (or STEO) report, the U.S. Energy Information Administration (or EIA) forecasted higher natural gas prices this winter.
Upstream Space Might See Upside This Week
On November 2–9, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 0.6%—the least among major energy ETFs.
Why natural gas prices hit $4 before returning to previous levels
Falling again from levels close to $4, natural gas prices retreated to $3.93 MMBtu after the EIA reported higher than expected inventory increases.
XOP Is Underperforming Other Energy ETFs
On November 12–19, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among major energy ETFs.
Will ConocoPhillips Continue to Deliver amid Oil’s Turbulence?
As of November 12, Brent crude oil active futures had fallen 18.3% from their almost four-year high of $86.29 per barrel on October 3.
One Key Driver for Marathon Oil’s Stock Price Movement
Identifying the key driver Marathon Oil’s (MRO) stock price was in an uptrend from October 2011 to September 2014 when NYMEX (New York Mercantile Exchange) WTI (West Texas Intermediate) crude oil (USO) prices were in an uptrend. But NYMEX WTI crude oil started to fall in June 2014, and Marathon Oil’s stock price had topped within three […]
Natural Gas Services, a Major Segment of DCP Midstream
DCP Midstream’s Natural Gas Services segment provides natural gas gathering, compressing, treating, processing, transporting, and storing services.
Natural Gas Prices Are Volatile Due to Inventory Report
Natural gas prices fell for the fifth time over the last ten days. Prices fell by 4.6% more on the average down-days than on the average up-days.
UNG a Winner, but XOP Disappointed Last Week
UNG was underperforming natural gas for almost the entire week, but towards the end of the week, it gave slightly higher returns.
Overview: The Eagle Ford Shale Play
The Eagle Ford Shale produces both oil and gas.
Occidental Petroleum: Analysts’ Ratings after 4Q17
The median target price on Occidental Petroleum stock is $78.50, which is ~12% higher than its closing price of $69.85 on February 14.
Analyzing the EIA’s natural gas inventory report and forecast
On October 23, the U.S. Energy Information Administration (or EIA) reported a 94 billion cubic feet (or bcf) natural gas inventory build for the week ending October 17.
Natural Gas Prices Are Flat Ahead of the EIA’s Report
December natural gas futures were almost flat at $2.26 per MMBtu on November 12, 2015. The natural gas prices didn’t change.
Why Natural Gas Prices Have Fallen by 4.6% in the Last 3 Days
Natural gas prices fell for the third-consecutive day on November 19, 2015, due to long-term oversupply concerns and rising natural gas inventories.
Key Insights on the Eagle Ford Shale
The Eagle Ford Shale is a gas and oil producing shale formation in south Texas. It extends to northeast Texas and touches the Mexican border. In this series, we’ll look at drilling activity in the region.
Should Investors Worry About Marathon Oil’s Credit Ratings Downgrades?
Due to the prolonged downturn in crude and natural gas, credit rating agencies reviewed many upstream companies earlier this year, including Marathon Oil.
Natural gas production growth expected to continue
Since mid-2011, natural gas production has increased even though the number of rigs has fallen. Drilling efficiencies have contributed to this trend.
Stock Comparison: How Have COP, DVN, OXY, APC, and EOG Fared?
Stock performance In this article, we’ll discuss the year-to-date (YTD) stock performance of ConocoPhillips (COP), Devon Energy (DVN), Occidental Petroleum (OXY), Anadarko Petroleum (APC), and EOG Resources (EOG), which reported the highest revenue among upstream companies in fiscal 2017. Outliers and underperformers The above image shows that ConocoPhillips (COP) is the outlier among peers. YoY […]
US Gas Fund (UNG) Rises in the Week Ended August 6
The United States Natural Gas Fund (UNG) is an ETF that tracks prompt natural gas futures. UNG shares trade on the New York Stock Exchange like company stock.
US Power Generation in 2015: Natural Gas up, Coal down
The EIA reported that power generation from natural gas increased in all regions of US in July, while generation from coal declined in all regions.
Natural Gas Prices Recover Ahead of Inventory Report
Natural gas prices rose for the sixth time in the last ten days. Prices fell by 4.5% more on the average down days than on the average up days over the same period.
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.
Did Institutional Investors Sell Devon Energy in 4Q17?
On December 31, 2017, 740 13F filers held DVN in their portfolios, out of which 13 filers had DVN in their top ten holdings.
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.
Natural Gas Prices Rally on Warmer Weather Forecast
June natural gas futures ruled the chart against other commodities on yesterdays’s trading. Natural gas prices increased by 0.59% year-to-date, led by the warmer weather forecasts.
Natural Gas Prices Are Volatile Due to the Weather Report
December natural gas futures trading in NYMEX rose by 0.40% on November 4, 2015. Natural gas prices rose due to cooler weather estimates.
Millennium Management adds new position in Anixter International
For 1Q14, Anixter’s results beat on earnings, but missed on revenue.
Natural Gas Prices Flat after Inventory Report
Natural gas prices fell more than 20% YTD (year-to-date) due to oversupply concerns.
This Segment Will Drive EnLink Midstream’s 4Q16 Results
ENLK expects central Oklahoma region to become its largest operating region by the end of 2017.
Why Did Natural Gas Prices Rise for the Second Day?
NYMEX-traded natural gas futures contracts for December delivery rose by 1% on November 16. Natural gas prices rose almost 5.5% in two days.
What Wall Street Analysts Recommend for Encana
As of February 16, 2018, 29 analysts were covering Encana (ECA). Of these, ~31% have “strong buy” ratings, ~62% have “buy” recommendations, while the remaining ~7% of analysts have “hold” recommendations.
A Key Factor That Drives Natural Gas Compression Services
Natural gas compression requirements depend on natural gas production. US rig counts have dropped, but Exterran (EXLP) expects production in 2015 to grow.
Bear Market: Crude Oil Prices’ Collateral Damage Continues
Rising global inventories and the US stockpile are fueling negative sentiments in the crude oil market. Prices have fallen more than 55% since June 2014.
What Are the Results of Devon Energy’s Tender Offers?
In order to deal with lower energy prices, Devon Energy has designed its own approach. One of the key components of this approach is the protection of its balance sheet.
Will Anadarko Benefit from Its Production Mix Strategy in 2019?
In Q4 2018, crude oil sales accounted for 58% of APC’s total sales volume. In 2019, the oil sales volume as a percentage of total sales might vary between 57.6% and 58.8%.
Latest Forecast for 2015 Natural Gas Consumption
Consumption declined across all sectors. Residential and commercial consumption led the decline, falling 23.3% compared to last week.
China May Cause Saudi Arabia to Cut Official Prices of Crude Oil
Russia and Saudi Arabia will have to offer more competitive prices in order to maintain market share in China. This implies that the Saudis may cut prices soon for crudes to Asian refiners.
Should Investors Worry about ConocoPhillips’s Increased Debt Load?
As of September 30, 2016, ConocoPhillips’s (COP) total debt stood at ~$28.7 billion.
Analyzing CNX Resources’ 4Q17 Revenue Expectations
For 4Q17, Wall Street analysts expect CNX Resources (CNX) to report revenues of $338 million.
ConocoPhillips: Jim Ratcliffe Eyes Assets in the United Kingdom
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe.
Natural Gas Prices Rose Due to Strong Demand
Natural gas futures for December delivery rose by 4.5% on November 5. Natural gas prices rose due to a lower rise in the natural gas inventory data.
Natural Gas Prices Slump 9.4% for the Week
ETFs like the United States Natural Gas—UNG—ETF fell in the direction of natural gas prices on November 20, 2015. UNG fell by 4.7% on the day.
UNG Mirrors Natural Gas, XOP Disappoints in Week Ended July 23
XOP underperformed both natural gas and UNG throughout the week. XOP returned the least in the group toward the end of the week.
Weakest Upstream Stocks in the Week Ending September 14
SandRidge Energy (SD) was the weakest upstream stock in the week ending September 14. SandRidge Energy fell 22.7% last week.
Natural Gas Prices Extend the Gain: Led by Improving Demand
NYMEX-traded June natural gas futures increased by 1.31% on Tuesday. Gas futures settled at $2.935 per MMBtu on May 12, 2015.
Natural Gas Prices Rose More than 5% in the Last 3 Sessions
December natural gas futures trading in NYMEX rose by 0.3% on November 6, 2015. Natural gas prices rose due to the consensus of rising demand.
Could ConocoPhillips Report Higher Profits in Q2 2018?
ConocoPhillips (COP) plans to report its Q2 2018 earnings on July 26. Its consensus net income estimate is ~$1.18 billion.
Why falling gas rig counts aren’t denting natural gas production
The U.S. Energy Information Administration (or EIA)—in its Short-Term Energy Outlook released in August, 2014—reported that dry natural gas production is expected to total 69.6 billion cubic feet (or bcf) per day in 2Q14.
What’s Been Driving Anadarko Petroleum’s Stock Lately?
Anadarko Petroleum (APC) stock has been surging since the beginning of this year, mirroring crude oil prices (UCO).
Natural Gas Consumption Weakens: Will the Trend Continue?
In the week ended August 5, total US natural gas consumption fell 0.7% week-over-week. Total power sector consumption of natural gas fell 0.6% that week.
Chart in Focus: Denbury Resources’ Hedging Effectiveness
Per Denbury Resources’ (DNR) form 10Q for 2Q16, DNR reported a total (non-cash and cash) loss of about -$98 million on commodity derivative settlements.
What Are the Key Drivers for Devon Energy’s Stock?
In this final part, we’ll study Devon Energy’s (DVN) stock price movement with respect to energy prices, the US dollar index, and the broader market.
ETE, PAGP, WGP, and ENLC: Analyzing MLPs’ General Partners
In this series, we’ll perform a comparative analysis of four MLPs’ general partners: Energy Transfer Equity, Plains GP Holdings, Western Gas Equity Partners, and EnLink Midstream LLC.
Occidental Petroleum: Poised for Strong 3Q16 Results
For 3Q16, analysts expect Occidental Petroleum to report revenues of ~$2.8 billion, which would be ~11% lower than its 3Q15 revenues of ~$3.1 billion.
Natural gas production is bullish despite falling rig count
Since mid-2011, natural gas production increased even though the number of natural gas-targeted rigs has fallen. Dry natural gas production is set to increase to 69.7 billion cubic feet per day (or bcf/d) in 2014.
Key analysis: Latest natural gas inventory report
Changes in prices affect natural gas producers and natural gas inventory movements affect prices. Last week’s data are bullish for American gas producers.
Chart in Focus: Marathon Oil’s Cash Flow Estimates
Wall Street analysts expect Marathon Oil (MRO) to report year-over-year higher cash flows of ~$473 million in 1Q17 from ~$74 million in 1Q16.
Natural gas rig count may raise energy investor hopes
The natural gas rig count decreased throughout most of 2014. Last year, there were 356 natural gas rigs. Currently, there are 316 rigs.
Devon Energy’s Relative Valuation: A Comparison with Its Peers
Devon Energy’s (DVN) lower forward EV-to-EBITDA multiple compared to peers implies a valuation discount due to higher risk.
EIA’s 2015 Natural Gas Consumption Forecasts
The EIA forecasts that total natural gas consumption will average 75.7 Bcf/d in 2015 and 76.2 Bcf/d in 2016, compared to an estimated 73.5 Bcf/d in 2014.
US Natural Gas Production Makes History: What’s Next?
US natural gas production hit a record of 73.3 Bcf (billion cubic feet) per day in February 2016.
Why natural gas will spearhead growth for CONSOL Energy
CNX has a joint venture with Noble Energy (NBL) in the Marcellus Shale, which drilled 117 gross wells in 2013.
Gauging Stone Energy’s Hedging Effectiveness
According to Stone Energy’s (SGY) 2Q16 earnings release, SGY reported a total (non-cash and cash) loss of ~$0.61 million on its derivative instruments.
Crude Oil Prices Rally Due to Short Covering, Weather Estimates
WTI and Brent crude oil prices fell by 28% in 2016 and tested 2003-lows as of January 20, 2015. In turn, that led to bargain buying by bullish traders.
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.
What’s the Dow Theory?
The Dow Theory was developed by Charles Dow. It identifies and signals the change in the stock market trends. It’s useful for trading and investing. The Dow Theory has six components.
Technical indicators and the Relative Strength Index
The Real Strength Index (or RSI) is a measure of a stock’s overbought and oversold position. The commonly used RSI is a 14-day RSI. It refers to the 14-day stock price that’s used to calculate the RSI.
Double top and double bottom patterns in technical analysis
The double top pattern forms in the uptrend. In this pattern, two consecutive peaks are formed. The peaks both have roughly the same price level.
Why natural gas prices cheer as winter starts
Natural gas prices started the week by increasing the most in four weeks. This was a result of cold weather forecasts. Prices jumped 4% to close at $4.04 MMBtu on Monday.
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.
Devon Energy’s latest acquisition is in the Eagle Ford “core”
Devon asserts that its recent purchase of Eagle Ford properties is located in the very core of the South Texas play.
Key takeaways from CONSOL Energy’s analyst day meeting
As of June 12, 2014, CNX had a market cap of ~$10.3 billion and an enterprise value of ~$13.8 billion.
Why a cleaner natural gas will likely replace coal
The environmental impact of the coal-based power plants depends on their air-emission, water resource use, water discharge, solid waste generation, etc.
Oil and Energy Stocks Fall after Trump’s Latest Tariff
President Trump’s new tariff impacted crude oil prices. On Thursday, the WTI near-month crude oil futures price fell approximately 8%.
Energy Stocks: Top Outperformers Last Week
In the week ending February 22, Superior Energy Services (SPN) rose the most among the energy stocks under review in this series.
Devon Energy’s Announcement Could Boost Investor Confidence
Yesterday, Devon Energy (DVN) announced a restructuring plan to separate its Canadian and Barnett Shale upstream assets by the end of this year.
ConocoPhillips Might Have the Most Moderate Upside
ConocoPhillips (COP) might have an upside of 8.9% in the next 12 months based on analysts’ mean target price.
Alberta’s Production Cut Could Impact the US Energy Sector
On December 3, Devon Energy rose 6.4%—the highest among the upstream stocks that form the S&P 500 Index (SPY).
Devon Energy: Analysts Expect More than 70% Upside
Devon Energy (DVN) might have an upside of 75.1% in the next 12 months based on analysts’ mean target price.