What Analysts Are Saying about Pioneer Natural Resources
Currently, ~81% of Wall Street analysts rate Pioneer Natural Resources (PXD) as a “buy” and ~14% of analysts rate it as a “hold.” Around 5% rate the stock a “sell.”
Natural Gas Prices Are Following the Price Channel
Mild weather and rising inventory estimates could drag natural gas prices lower. The key support for natural gas prices is seen at $2.60 per MMBtu.
Are Crude Oil and Natural Gas Stocks Finally Bottoming?
Looking back, 2015 was a brutal year for all of the commodities. Energy commodities weren’t an exception. Crude oil (USO) fell by ~30% in 2015.
Southwestern Energy Stock Movement versus Natural Gas
Since March 2016, natural gas prices have risen ~83%, but Southwestern Energy’s stock price has risen only ~48% since its February 2016 low.
Southwestern Energy Stock: The Impact of Natural Gas Prices
Since November 9, 2016, SWN stock hasn’t been keeping up with the strong rise in natural gas prices. The stock has risen marginally from $9.78 to $10.10 per share.
What Are Wall Street Analysts Saying about Range Resources?
As of March 28, 2016, about 55% of Wall Street analysts rated Range Resources (RRC) as a “buy” and ~40% of analysts rated it as a “hold.”
The Word on the Street: Forecasts for Range Resources
As of May 27, 2016, about 50% of Wall Street analysts have rated Range Resources (RRC) as a “buy,” and ~47% of analysts have rated it as a “hold.”
How Badly Did PDC Energy Miss Analysts’ Estimates in 4Q15?
PDC Energy (PDCE) reported its 4Q15 earnings on February 22, 2016. The company announced adjusted revenue of ~$168.6 million.
Natural Gas Prices Could Trade within an Uptrend Channel
A symmetrical triangle could swing natural gas prices in either direction. Bears could see the key support at $2.50 per MMBtu. Prices hit this mark in April.
Occidental Petroleum Paid Dividend of $0.76 per Share in January
Occidental Petroleum (OXY) paid its most recent dividend for 4Q16 on January 13, 2017—$0.76 per share on its common stock.
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.
Occidental Petroleum: Post-Earnings Wall Street Ratings
On August 3, 2017, around 30.4% of the total analysts covering Occidental Petroleum (OXY) had “strong buy” or “buy” recommendations on the stock.
What Analysts Are Saying about Consol Energy: The Word from the Street
As of April 18, 2016, about 40% of Wall Street analysts have rated Consol Energy (CNX) as a “buy,” and ~55% have rated it as a “hold.”
Crude Oil Prices Fall Due to Weak Demand Cues
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.
What Are Analysts Saying about Energen after Its 1Q16 Earnings?
Currently, ~52% of Wall Street analysts rate Energen (EGN) as a “buy” and ~44% of analysts rate it as a “hold.” Around 4% rate the stock a “sell.”
Production Mix and Realized Prices: How Do Pioneer’s Compare?
In 4Q15, Pioneer Natural Resources’ production mix was ~53% crude oil, ~19% natural gas liquids, and ~28% natural gas.
Will Global Crude Oil Demand Fall in 2017 and 2018?
The IEA downgraded the global crude oil demand estimates for 2017 and 2018, which weighed on oil (USO) (USL) prices on November 14, 2017.
US Crude Oil Production Is near 4-Year Low
The EIA estimates that US crude oil production fell by 1,074,000 bpd (barrels per day) to 8,406,000 bpd on October 6–13, 2017.
Crude Oil Prices Rise Marginally on Short Covering due to Expiry
NYMEX-traded WTI crude oil futures contracts for July delivery rose marginally by 0.12% and settled at $59.68 per barrel on June 22, 2015.
Energen’s 1Q16 Operational Performance, Management Strategies
For 2016, Energen has increased its drilling and development capital by $100 million–$150 million to a new range of $350 million–$400 million.
Why Crude Oil Prices Fell despite the OPEC and Non-OPEC Deal
March WTI (West Texas Intermediate) crude oil futures contracts trading in NYMEX fell by 1.4% and settled at $29 per barrel on February 16, 2016.
President Trump Impacts Iran and Crude Oil Futures
On May 8, President Trump said that the US is exiting the Iranian nuclear deal. He plans to impose new sanctions on Iran.
Analysts Upgrade WTI and Brent Crude Oil Price Forecasts
WTI crude oil futures increased ~8.6% on June 25–July 2. Expectations of a drop in US crude oil inventories could support oil prices.
Why California Resources Stopped Paying Dividends
California Resources (CRC) paid its last dividend on October 15, 2015. It paid a dividend of $0.10 per share on its common stock.
Why Has Marathon Oil Curtailed Its Dividend?
Marathon Oil (MRO) paid its last dividend on September 12, 2016, issuing a dividend of $0.05 per share on its common stock for 2Q16.
ConocoPhillips’s Deepwater Exploration Exit Impacts 2016 Guidance
For 2Q16, ConocoPhillips (COP) expects total production in the range of 1,500–1,540 Mboepd (thousand barrels of oil equivalent per day).
Why Are WTI and Brent Crude Prices Moving in Opposite Directions?
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.
The Reasons behind Pioneer Natural Resources’ Equity Offering
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.
Crude Oil Prices Rise for the Second Day: Led by API Data
August WTI crude oil futures contracts trading in NYMEX rose for the second day by 1.33% and closed at $61.01 per barrel on Tuesday, June 23, 2015.
Most Analysts Rate PDC Energy a ‘Buy’ ahead of 4Q15 Earnings
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.
What Wall Street Analysts Are Saying about Diamondback Energy
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.”
Crude Oil Bears Are Tracking Iraq and Kurdistan Talks
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.
Analyzing Range Resources’ Dividends and Dividend Yields
In 4Q15, Range Resources (RRC) paid a dividend of $0.04 per share on its common stock.
How Is Southwestern Energy Rated after 1Q16 Earnings?
Tudor, Pickering, Holt & Co. assigned Southwestern Energy (SWN) the highest target price of $18, which is ~69% higher than the closing price of $10.67 on April 21.
Could Encana See Production Growth in 2017?
Production guidance Encana (ECA) did not give any specific production guidance for 1Q17. However, during its 4Q16 earnings conference call, it gave fiscal 2017 production guidance. For 2017, Encana expects total production of 320 Mboepd[1.thousand barrels of oil equivalent per day]–330 Mboepd, which represents a midpoint decrease of ~8% from 2016. Encana expects to return to […]
A Look at Encana’s Production Mix and Realized Prices
In 1Q16, Encana’s (ECA) production mix was ~66% natural gas, ~21% crude oil, and ~13% natural gas liquids. Its total liquids production was at ~34%.
Where Wall Street Thinks Pioneer Natural Resources Could Trade
As of September 22, 2017, around 89.7% of analysts covering Pioneer Natural Resources (PXD) have “buy” or “strong buy” recommendations on the stock.
Spotlight on Parsley Energy in 2Q15
Parsley recorded $77.86 million in net operating revenues, down 5.4% from 2Q14. Lower price realizations decreased revenues, but higher production helped.
Occidental Petroleum: Pre-Earnings Wall Street Ratings
Recommendations As of July 24, 2017, most of the 23 analysts (60.9%) covering Occidental Petroleum (OXY) had “hold” recommendations. Four analysts recommended “strong buy,” three analysts recommended “buy,” 14 analysts recommended “hold,” one analyst recommended “sell,” and one analyst recommended “strong sell.” Target price Analysts have given a median target price of $65.50, which is ~10% higher […]
Natural Gas Prices Show a Symmetrical Triangle Pattern
NYMEX-traded July natural gas futures show the emergence of a symmetrical triangle pattern. Prices broke below the trend line support of this pattern on June 22.
What Murphy Oil’s Implied Volatility Means for Its Stock Price
As of July 29, 2016, Murphy Oil (MUR) had an implied volatility of ~47.9%, which is ~25.8% below its 260-day historical price volatility of ~64.5%.
How VNOM Could Benefit from the Diamondback–Energen Deal
Energen Corporation currently owns 266 net royalty acres in the Midland and Delaware Basins.
The Expected Synergies from the Diamondback–Energen Deal
Diamondback Energy expects $205.0 million–$310.0 million of annual savings following the completion of the merger with Energen Corporation (EGN).
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.
Are Institutional Investors Buying CNX Resources Stock?
In Q1 2018, 140 funds bought CNX Resources (CNX).
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.
Will EOG Resources Report Higher Profits in Q2 2018?
EOG Resources (EOG) is expected to report its second-quarter earnings results after the market closes on August 2.
Are Institutional Investors Selling Marathon Oil Stock?
In Q1 2018, 265 funds were “buyers” of Marathon Oil (MRO) stock, either creating new positions or adding to existing positions.
Devon Energy’s Revenue Expectations for Q2 2018
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.
Will Devon Energy Report Higher Profits in Q2 2018?
Devon Energy (DVN) is expected to report its Q2 2018 earnings on July 31 after the market closes. Here’s what you need to know.
Understanding Occidental’s Correlation with Crude Oil Prices
In this article, we’ll try to quantify any correlation between OXY and crude oil prices.
Did Crude Oil Move ConocoPhillips’s Stock Last Week?
As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price was up by 3.70% for the week ended June 22.
Stock Comparison: REI, TELL, CDEV, SD, and EGN
Tellurian stock has risen 25.4% YoY (year-over-year), Energen stock has risen 25.3% YoY, and Centennial stock has risen 24% YoY.
Which Upstream Companies Had the Lowest Leverage?
Ring Energy’s leverage ratio as of the first quarter was ~1.09x. The company’s assets are mainly financed by equity.
US Gasoline Inventories: More Pain for Crude Oil Prices?
US gasoline inventories increased by 3.6 MMbbls (million barrels) or 1.5% to 241 MMbbls on January 5–12, 2018, according to the EIA.
Analyzing US Gasoline Inventories and Demand
The API reported that US gasoline and distillate inventories rose by 9,200,000 barrels and 4,300,000 barrels on November 24–December 1, 2017.
US Gasoline Inventories Weighed on Crude Oil Futures
US gasoline inventories rose by 3,627,000 barrels to 214 MMbbls (million barrels) on November 17–24, 2017, according to the EIA.
How Lower US Gasoline Inventories Help Crude Oil Futures
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’s Crude Oil Production Is Vital for Oil Bulls
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 Dollar Could Pressure Crude Oil Futures This Week
The US Dollar Index rose 0.13% to 94.4 on November 13, 2017. It limited the upside for US crude oil (UWT) (DWT) prices on the same day.
A Deep Drill into Occidental Petroleum’s 3Q17 Operational Performance
For 4Q17, Occidental Petroleum expects total production of 633–641 Mboepd, ~5% higher than its 3Q16 production of 607 Mboepd.
What Analysts Recommend for Occidental Petroleum
As of October 26, 2017, around 27.3% of analysts covering Occidental Petroleum (OXY) have “strong buy” or “buy” recommendations on the stock.
US Crude Oil Production Rebounds from a 4-Year Low
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.
Gasoline and Distillate Inventories Could Support Oil Futures
If the EIA reports a larger-than-expected fall in US gasoline and distillate inventories, it would support gasoline and diesel prices.
US Crude Oil Inventories Are 21% above their Five-Year Average
The US Energy Information Administration (or EIA) released its “Weekly Petroleum Status Report” on October 12, 2017.
How Iran and Iraq’s Crude Oil Exports Could impact crude Oil Prices
Iraq’s crude oil exports hit 3.98 MMbpd (million barrels per day) in September 2017, according to Bloomberg—its highest level since December 2016.
Why Crude Oil Prices Drive Marathon Oil Stock
The majority of Marathon Oil’s revenues comes from crude oil and NGL sales. The price of crude oil is thus the key driving factor for MRO stock.
Are Institutional Investors Accumulating W&T Offshore Stock?
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.
Denbury Resources: Post-Earnings Wall Street Ratings
On August 9, 2017, ~63.6% of the 11 analysts covering Denbury Resources (DNR) gave “hold” recommendations on its stock.
Devon Energy: Analysts’ Ratings after Its 2Q17 Earnings
As of August 2, eight analysts rated Devon Energy as a “strong buy,” 14 analysts rated it as a “buy,” and 12 analysts rated it as a “hold.”
What’s the Short Interest in California Resources Stock?
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.
Marathon Oil’s Stock Outperformed Crude Oil and Peers Last Week
Last week, natural gas and crude oil producer Marathon Oil’s stock price outperformed crude oil prices, declining marginally from $12.54 to $12.52.
ConocoPhillips Stock Outperformed Crude Oil and Natural Gas Prices
Despite the decrease in crude oil prices last week, the Energy Select Sector SPDR ETF (XLE) outperformed the S&P 500 ETF (SPY).
Marathon Oil Stock and How It Performed Last Week
Last week, natural gas (UNG) and crude oil (USO) producer Marathon Oil (MRO) saw its stock outperform crude oil.
This Is Why Crude Oil Prices Are Driving MRO’s Stock Price
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.
How Crude Oil Prices Moved Encana’s Stock Price
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.
Encana’s Quarterly Production Hit a 2-Year Low
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.
Analyzing Marathon Oil’s Dividend Announcement
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.
Devon Energy’s Production to Fall Significantly in 4Q16
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 […]
Analyzing ConocoPhillips’s Dividend Increase Announcement
On January 31, 2017, ConocoPhillips (COP) announced that it has increased its quarterly dividend by 6% from $0.25 per share to $0.27 per share.
Understanding Marathon Oil’s Free Cash Flow Normalized to Production
In 3Q16, MRO’s reported FCF normalized to total production of ~$3.68 per boe, which was ~$6.9 higher than in 3Q15.
Why Stone Energy’s Stock Price Rose on Its Bankruptcy News
On December 14, 2016, Stone Energy announced that it had filed for voluntary relief under Chapter 11 of the United States Bankruptcy Code.
ConocoPhillips’s Steps to Reduce Its Break-Even Price
Since 2014, ConocoPhillips (COP) has been focusing on reducing its break-even price.
What Does Murphy Oil’s Implied Volatility Forecast for Its Stock?
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%.
Inside Marathon Oil’s Free Cash Flow Normalized to Production
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 […]
How Energen’s Stock Price Reacted after Past Earnings Beats
Energen (EGN) announced its 2Q16 earnings on August 8, 2016, after the markets closed.
What Does Energen’s Implied Volatility Forecast for Its Stock Price?
As of August 9, 2016, Energen (EGN) had an implied volatility of ~44.7%, which is ~23.8% below its 260-day historical price volatility of ~58.6%.
How Much Cash Did Energen Generate in 2Q16?
For 2Q16, Energen (EGN) reported cash flow of $1.03 per share, which is lower by ~61% when compared with 2Q15.
SM Energy’s Volatility Forecast: The Implication for SM Stock
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%.
What to Take from Marathon Oil’s Implied Volatility Forecast
As of August 3, 2016, Marathon Oil had implied volatility of ~52.0%, which is ~25.4% below its 260-trading day historical price volatility of ~69.8%.
ConocoPhillips’s Implied Volatility: Stock Price Forecast
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 Normalized to Production
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.
Chart in Focus: Denbury Resources’ Free Cash Flow
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.
How Does Newfield Exploration’s Valuation Compare to Its Peers?
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.
How Denbury Resources’ Relative Valuation Compares to Its Peers’
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.
Chart in Focus: Denbury’s EBITDA Normalized for Total Production
Denbury Resources’ adjusted EBITDA normalized for total production have fallen substantially in the last two quarters.
Why Diamondback Energy Has Best Profit Margins in the Industry
Diamondback Energy (FANG) operates in the Permian Basin in West Texas, which is one of the lowest cost, highest quality basins in the US.
Devon Energy’s Production Mix and Realized Prices
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.
What Wall Street Analysts Are Saying about Devon Energy
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.”
Analyzing Devon Energy’s 1Q16 Earnings Call and Management Strategies
In February 2016, Devon Energy forecasted its E&P (exploration and production) capital expenditure in the range of $0.9 billion–$1 billion.