For Q2 2018, Wall Street analysts expect Devon Energy (DVN) to report revenues of ~$3.90 billion. On a year-over-year basis, DVN’s Q2 2018 revenues expectations are ~24% higher compared with its Q2 2017 revenues of ~$3.15 billion.
US gasoline inventories According to the EIA (U.S. Energy Information Administration), US gasoline inventories rose by 44,000 barrels to 210.4 MMbbls (million barrels) between November 10 and 17, 2017. However, gasoline inventories were 13.5 MMbbls (6.1%) lower than in the same period in 2016. The market estimated that US gasoline inventories would rise by 737,000 barrels between […]
Venezuela is OPEC’s sixth-largest crude oil producer. The EIA estimates that Venezuela’s crude oil production fell by 30,000 bpd to 1.91 MMbpd in October.
US crude oil futures contracts for December delivery fell 0.02% and were trading at $53.90 per barrel in electronic trade at 2:20 AM EST on October 30.
The EIA estimates that US crude oil production rose by 1,101,000 bpd or 13.1% to 9,507,000 bpd on October 13–20, 2017. It rose from almost a four-year low.
In 2Q17, 58 funds were buyers of W&T Offshore (WTI) stock, and 40 funds were sellers. That means that total buying funds outnumbered total selling funds by 18.
As of May 30, 2017, California Resources’ (CRC) total shares shorted (or short interest) stood at ~13.0 million, whereas its average daily volume is ~2.1 million.
In 4Q16 Marathon Oil’s (MRO) operating revenue from crude oil (USO), natural gas (UNG), and natural gas liquids sales totaled ~$1.2 billion, a fall of ~16% compared to 4Q15.
Since January 26, 2017, crude oil prices have dropped from $53.78 per barrel to $47.72 per barrel. Encana (ECA) stock also fell from $13.83 to $10.32 during this period.
For fiscal 2016, Encana (ECA) reported production of 352.7 Mboepd (thousand barrels of oil equivalent per day), which is above the mid-point of its production guidance range of 340–360 Mboepd.
Recently, Marathon Oil declared a dividend of $0.05 per share for 1Q17. The dividend will be payable on March 10, 2017, to stockholders of record at the close of business on February 15.
4Q16 production guidance For 4Q16, Devon Energy (DVN) expects total production of 524 Mboepd[1.thousand barrels of oil equivalent per day]–546 Mboepd. The midpoint of Devon Energy’s 4Q16 production guidance is ~21% lower than it was in 4Q15. Additionally, Devon Energy’s production guidance is ~7% lower than it was in 3Q16. For 4Q16, Devon Energy expects […]
As of October 26, 2016, Murphy Oil (MUR) had an implied volatility of ~44.5%, which is ~31.4% below its 260-trading-day historical price volatility of ~64.8%.
Marathon Oil’s FCF normalized to production In 2Q16, Marathon Oil’s (MRO) reported FCF (free cash flow) normalized to total production of about -$3.38 per boe (barrel of oil equivalent), which is ~$8.92 higher than in 2Q15. Marathon Oil’s FCF normalized to total production fell steeply in 4Q14 and 1Q15. In fact, in 1Q15 Marathon Oil […]
As of August 2, 2016, SM Energy (SM) had an implied volatility of 74.9%, which is 26.8% below its 260-trading-day historical price volatility of 102.2%.
As of August 1, 2016, ConocoPhillips had an implied volatility of ~33.3%, which is ~26.8% below its 260-trading day historical price volatility of ~45.5%.
Pioneer Natural Resources’ free cash flow as normalized to total production declined substantially in the last quarter. This was mainly due to the much lower operating cash flows.
Should investors be worried about Pioneer Natural Resources’ (PXD) common stock offering? What are PXD’s strengths? In this series, we’ll answer these questions and more.
A peer group comparison shows that Newfield Exploration’s forward EV-to-EBITDA multiple of ~12x is slightly undervalued compared to its peer average of 12.6x.
In 1Q16, Denbury Resources’ reported free cash flow normalized for total production of ~-$10 per boe (barrel of oil equivalent), ~$2 lower compared to 1Q15.
Denbury Resources’ valuation appears to be at the lower end of the range compared to its peers’. The average EV-to-EBITDA ratio for the industry is ~11.1x.
Excluding the effect of hedges, Devon Energy’s (DVN) average realized crude oil and bitumen price in 1Q16 was $20.06 per barrel, down by ~43% from $35.17 per barrel in 1Q15.
Currently, ~67% of Wall Street analysts rate Devon Energy (DVN) as a “buy” and ~31% of analysts rate it as a “hold.” Around 3% rate the stock as a “sell.”
Energen (EGN) announced its 1Q16 earnings on May 5, 2016. Following its earnings release, a contrarian reaction occurred in which better-than-expected earnings pushed Energen’s stock price down by ~4% in two sessions.
In this final part of the series, we’ll look at recent Wall Street ratings for Cabot Oil & Gas (COG), Marathon Oil (MRO), EQT (EQT), and Energen (EGN).
As of March 4, 2016, about 85% of Wall Street analysts have rated Diamondback Energy (FANG) as a “buy,” and ~12% of analysts have rated it as a “hold.”
March WTI crude oil futures contracts rose 0.36% and settled at $30.8 per barrel on February 18, 2016. Brent fell 0.64% and closed at $34.3 per barrel.
In the weeks leading up to PDC Energy’s (PDCE) earnings release for the fourth quarter of 2015, Wall Street analysts provided target prices for the next 12 months.
The fall in supply disruptions from OPEC member nations will add to the global oil market glut. This would extend the bear market and negatively impact oil prices.
Lower refined products prices led to the fall in refinery demand. The EIA reported that US refined demand fell to 15.5 MMbpd for the week ending February 5.
The day after Energen (EGN) released its 4Q15 earnings, its stock price fell a whopping 15.9% but recovered somewhat during the day to close at $22.91, which was a 7.1% fall from the previous day’s close.
The EIA released its “This Week in Petroleum” report on February 10. The US crude oil refinery demand fell by 105,000 bpd for the week ending February 5, 2016.
The EIA reported that Cushing crude oil inventories fell by 212,000 barrels to 53.1 MMbbls in the week ended October 30, 2015. That was the third weekly fall in Cushing inventories.
The EIA reported that the US crude oil output fell by 18,000 bpd (barrels per day) to 9.117 MMbpd (million barrels per day) for the week ending September 11.
NYMEX-traded WTI crude oil futures contracts for October delivery fell by 1.41% on September 14. The speculation of slowing demand put pressure on crude oil prices.
