An investor’s guide to MLPX and its holdings, like Spectra Energy
The Global X MLP & Infrastructure ETF (MLPX) tracks the Solactive MLP & Energy Infrastructure Index. The index consists of midstream energy infrastructure MLPs and corporations.
How Has Oasis Petroleum’s Stock Performed This Year?
Oasis Petroleum’s (OAS) stock has shown an uptrend for the most part of 2016. Its stock dipped between June 2016 and August 2016….
What We Can Forecast from EQT’s Implied Volatility Trends
EQT’s (EQT) current implied volatility is ~31%. While EQT’s peer Cabot Oil and Gas (COG) has a lower implied volatility of 28.2%, Chesapeake Energy (CHK) has a higher implied volatility of 49%.
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 EQT Midstream Trades at a Premium to Its Peers
EQT Midstream (EQM) is the second-largest company according to EV (enterprise value) in the peer group described in this part.
What Do Analysts Recommend for RICE after Its 1Q16 Results?
Following Rice Energy’s (RICE) 1Q16 earnings, Wall Street analysts updated their target prices for the company for the next 12 months.
Range Resources’ Valuation: How Does It Compare with Peers’?
In 4Q15, Range Resources was trading at higher price-to-book and price-to-sales multiples than peers.
EIA Projections for December 2015: Key US Shale Natural Gas Production
The EIA expects less natural gas production at four key US shales by December compared to October, but it expects production to rise at three key shales.
What Does EQT Midstream Partners’ Current Valuation Indicate?
EQT Midstream Partners (EQM) is trading at a significant discount to its historical levels, driven by the recent weakness.
A Look into EQT Midstream Partners’ 2017 Capex Plans
EQT Midstream’s 2017 capex guidance In this article, we’ll look at EQT Midstream Partners’ (EQM) capex plans for 2017. The partnership expects to spend between $500 million and $850 million on growth projects in 2017. The midpoint of its 2017 capex guidance is slightly higher than the current forecast for 2016. EQM’s capital expenditure is […]
Why investors should closely watch natural gas inventory figures
Natural gas prices directly affect earnings for gas-weighted producers such as Chesapeake Energy Corporation (CHK), EQT Corporation (EQT), Southwestern Energy Company (SWN), and Range Resources Corporation (RRC).
Why the Marcellus Play Is Crucial for EQT
EQT (EQT) increased its 2016 production guidance range to 730–740 Bcfe (Billion cubic feet equivalent) from the previous 710–730 Bcfe it predicted during its 1Q16 earnings.
Should You Include EQT Midstream Partners in Your Portfolio?
Here, we’ll look at what Wall Street analysts recommend for EQT Midstream Partners (EQM). Around 90.9% of analysts rate EQT Midstream a “buy.”
The New and Improved EQT: Synergies from the Midstream Separation
As we’ve been discussing, with the Rice deal, EQT Corporation (EQT) is now the largest natural gas producer in the United States.
Natural Gas Prices Are Trading Close to the Key Resistance
September natural gas futures contracts rose for the third day in a row. Natural gas prices have been trading close to the key resistance of $2.90 per MMBtu.
Where Are Option Traders Betting in Upstream Stocks?
On February 3, 2017, Cobalt International Energy (CIE) had the highest implied volatility among the upstream stocks that make up XOP.
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.”
Why natural gas production trends are so important to prices
Record-high production levels have ensured that adequate supply of natural gas is available before the winter starts. The EIA anticipates that inventory levels will be 3,532 bcf by the end of this month.
Why EQT Stock Fell after Its 3Q17 Earnings
After EQT’s 3Q17 earnings release on October 26, its stock fell ~1.3%. The stock likely fell due to the 3Q17 revenue miss and fall in natural gas prices.
Hess’s Stock Performance: The Fall and the Rise
Hess’s (HES) stock started rapidly declining in the second half of 2015. This was due to weaker crude oil prices in the third and fourth quarters.
Natural Gas Is Falling: Expect Stocks to Decline
On February 8, 2018, the EIA will report natural gas inventory data for the week ending February 2, 2018. The market expects a fall of 116 Bcf.
Why Did the EIA Cut Its Production Estimates for Natural Gas?
The EIA (U.S. Energy Information Administration) lowered its production estimates for natural gas. The fall in production corresponds to lower natural gas prices.
Are You Prepared for Chesapeake Energy’s 4Q17 Earnings?
Chesapeake Energy will release its earnings on February 22 before the market opens. The company’s 4Q17 revenue estimate is ~$2.28 billion.
Cabot Oil & Gas: Analyzing the Stock Price Range Forecast
Cabot Oil & Gas stock could close between $25.76 and $27.74 in the next seven days. Cabot Oil & Gas will likely stay in this range 68.0% of the time.
Futures Spread: Bullish Sentiments Are Rising
On March 19, the natural gas futures for April 2019 closed at a premium of ~$0.22 to the April 2020 futures.
Tracking Natural Gas–Weighted Stocks after the Inventory Report
On December 13, 2017, natural gas (UNG) (BOIL) January futures rose 1.4% and closed at $2.715 per MMBtu (million British thermal units).
Must-know: Southwestern Energy’s cost advantages
The Energy Information Administration describes Finding and development costs as, “…the costs of exploring for and developing reserves of oil and gas and the costs to purchase properties or acquire leases that might contain oil and gas reserves.”
Which Natural-Gas-Weighted Stocks Are Following Oil?
CHK has had a negative correlation with natural gas prices in the past five trading sessions.
Short Interest Trends in Chesapeake Energy
On December 8, the short interest as a percentage of float, or the short interest ratio, for Chesapeake Energy (CHK) stock was ~18.6%.
Why Oil Rigs Could Hinder Natural Gas’s Recent Gains
In the week ended July 14, 2017, the natural gas rig count fell by two. However, in the trailing year, the natural gas rig count has more than doubled.
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.
EQT’s Implied Volatility Trends: What We Can Expect
EQT’s (EQT) current implied volatility is 29%. While EQT’s peer Cabot Oil and Gas (COG) has a lower implied volatility of 21.7%, Chesapeake Energy (CHK) has a higher implied volatility of 52.6%.
Futures Spread: Natural Gas’s Bullish Sentiments Fall
On March 26, the natural gas futures for May 2019 closed at a premium of ~$0.15 to the May 2020 futures.
Understanding the Short Interest Trends in Noble Energy Stock
The short interest ratio (or short interest as a percentage of float) in Noble Energy (NBL) stock on June 27, 2017, was ~3.4%.
Key Energy Industry Updates from July 24–28, 2017
Valero Energy (VLO) posted its 2Q17 results on July 27, 2017. Its revenue surpassed the Wall Street analyst consensus estimate by ~10.5%.
Natural Gas Prices: Flat for the Second Day, Test a 5-Month Low
October natural gas futures contracts rose by 0.86% on September 24. Natural gas prices rose despite a larger-than-expected rise in the natural gas inventory.
Inventories Spread Could Boost Natural Gas Prices
The difference between natural gas inventories and its five-year average, the inventories spread, could influence natural gas prices.
COG’s Second-Quarter Revenue to Fall: Impact on Earnings
Cabot Oil & Gas (COG) plans to release its second-quarter earnings on July 27. Revenue estimates stand at ~$384.96 million.
Antero Resources: Why Its Stock Ignored Natural Gas
Antero Resources (AR) had the highest correlation of 98.4% with crude oil active futures among gas-weighted stocks in the week ending July 17, 2017.
Who’s Shorting Chesapeake: What We Can Infer from CHK Short Interest Trends
On July 21, 2017, the short interest ratio, or short interest as a percentage of float, for Chesapeake Energy (CHK) stock was ~23%.
The Word on the Street: What Analysts Are Saying about Rice Energy ahead of 1Q16 Results
About 73% of Street analysts rate Rice Energy a “buy,” while ~19% rate it a “hold,” and ~8% rate it a “sell.” The average broker target price is $18.93.
Inventories Spread: Bullish or Bearish for Natural Gas Prices?
In the week ending August 11, 2017, natural gas inventories rose by 53 Bcf to 3,082 Bcf based on the EIA’s data released on August 17, 2017.
Cabot Oil & Gas: Short Interest Trends in Its Stock
On July 18, 2017, Cabot Oil & Gas’s (COG) short interest ratio was ~4.7%. At the beginning of the year, its short interest ratio was 4.2%.
US Natural Gas Price Drivers on August 6–10
US natural gas futures increased 1.3% to $2.81 per MMBtu (million British thermal units) on July 26–August 2.
Inventories Spread: Could Natural Gas Make a U-Turn?
The market expects a rise of 56 Bcf in the natural gas inventories level for the week ended September 29, 2017.
EQM Reports Strong Earnings and Distribution Growth in Q3
EQM Midstream Partners (EQM) reported adjusted EBITDA of $280.1 million in the third quarter, an increase of 65% year-over-year.
How Does US Natural Gas Production Impact Prices?
PointLogic estimates that US dry natural gas production fell 0.7% to 80 Bcf per day on July 12–18. However, the production has risen 11% YoY.
Why Oil’s Fall Could Be Trouble for Natural Gas–Weighted Stocks
Below is the list of natural gas–weighted stocks that belong to the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) along with their correlations with US crude oil prices in the trailing week.
Range Resources’ Production: Where Did It Come From?
For 4Q15, Range Resources’ production of ~1.4 Bcfe (billions of cubic feet equivalent) per day was ~12% higher than the ~1.3 Bcfe per day from 4Q14.
Rebound in Natural Gas Didn’t Help Gas-Weighted Stocks
On March 3, 2016, natural gas futures touched a 17-year low. From March 3, 2016, to March 13, 2017, natural gas rose 85.4% on a closing price basis.
Lower Natural Gas Inventory Might Propel Prices
On March 21, the EIA is scheduled to release its natural gas inventory report for the week ending March 15.
Analyzing Natural Gas Inventory Data
On March 7, the EIA (U.S. Energy Information Administration) is scheduled to release its natural gas inventory report for the week ending March 1.
Natural Gas Longs: Here’s Why You Should Watch Oil Rigs
On January 12, 2018, the natural gas rig count was 88.4% less than its historic high of 1,606 in 2008.
Cabot Oil & Gas’s Key Strategies and Initiatives for 2018
From 2018 to 2020, Cabot Oil & Gas (COG) expects to see a compound annual growth rate of 17%–21% in its production volumes.
Are Hedge Funds Reducing Bullish Bets on US Natural Gas?
Hedge funds cut their net long positions in US natural gas futures and options 44.8% to 24,984 on July 17–24.
Returns of Upstream Stocks with High and Low Implied Volatility
On November 15, Cobalt International Energy (CIE) had the highest implied volatility among the upstream stocks that are part of XOP. Its stock fell ~75.4% on a YTD (year-to-date) basis.
Higher Inventory Might Support Natural Gas’s Rise
On May 2, the EIA (U.S. Energy Information Administration) is scheduled to release its natural gas inventory report for the week ending April 26.
Key Energy Events for the Week Ending November 9
On November 8, the Fed might announce important changes to key interest rates, which would be important for the US dollar.
Key Updates on the EQT-RICE Merger
Under EQT Corporation’s (EQT) existing ownership, the company owns a 90% limited partner interest and non-economic general partner interest in EQT GP Holdings (EQGP).
Chesapeake’s Earnings and Revenues Have Improved
Chesapeake Energy’s adjusted EPS in the first quarter was $0.34—higher than Wall Street analysts’ consensus EPS estimate of $0.27.
Oil Rigs Are the Biggest Concern for Natural Gas
In the week ending November 10, 2017, the oil rig count rose by nine—the largest rise since June 30, 2017. Strong oil prices spurred the rise.
Events that Could Impact Oil Prices This Week
Between July 20 and July 27, Murphy Oil (MUR), EQT (EQT), and Apache (APA) returned 2.0%, -10.5%, and 1.4%, respectively.
Analyzing Natural Gas Stocks and Natural Gas
On March 3, 2016, natural gas futures touched a 17-year low of $1.64. From March 3, 2016, to February 13, 2017, natural gas rose 79.3%.
EQT Stock Fell after Its Second-Quarter Earnings
Following EQT’s (EQT) second-quarter earnings release on July 26, its stock fell ~2%. EQT missed the revenue and earnings estimates.
Natural Gas Consumption Fell in the Week to April 17
Last week, total US natural gas consumption decreased by 1.7% week-over-week. Consumption declined in the residential and commercial sectors by 5.2%.
How Range Resources and EQT Corporation Performed on December 28
Range Resources Corporation was the S&P 500’s second-best performer on December 28, 2017.
Natural Gas Rebound: Pick Gas-Weighted Stocks Carefully
On March 3, 2016, natural gas futures touched a 17-year low of $1.64. From March 3, 2016, to March 6, 2017, natural gas rose 76.8% on a closing price basis.
Why investors need to watch natural gas inventory figures
Natural gas consumption in the U.S. is very seasonal. It’s highest in the winter. Heating demands are at their highest during the winter months.
Energy Sector: Analyzing Key Events This Week
The EIA is scheduled to release its oil and natural gas inventory data on March 27–28, which could be a short-term driver for oil and natural gas prices.
Oil Is an Important Factor for Natural Gas–Weighted Stocks
On our list of natural gas–weighted stocks that are taken from XOP, none of the stocks had a correlation of less than 50% with US crude oil futures.
Possible Mild Summer: Where Energy Investors Should Be Careful
Between May 19 and May 26, 2017, natural gas (UNG) July futures fell 1.3% and settled at $3.31 per million British thermal units on May 26.
Natural Gas Production Projected to Slow by July
The Bakken Shale is expected to witness a 3.3% drop in the next two months, the most significant decrease in natural gas production among the shales.
EQT: Analysts’ Recommendations for the Stock
For EQT (EQT), ~61% of the analysts rated the stock as a “buy,” while 39% rated it as a “hold.”
Natural Gas Below $3: Does It Matter to Gas–Weighted Stocks?
On October 30, 2017, natural gas December futures rose 0.1% and closed at $2.97 per MMBtu (million British thermal unit), which was below the crucial $3 level.
Must-know analysis of natural gas inventory report
On October 16, 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 10. Inventories increased to 3,299 bcf.
Shorting NBL: Reading the Short Interest Trend in Noble Energy Stock
On October 17, 2017, Noble Energy’s (NBL) short interest ratio was ~4%, compared with its short interest ratio of ~3.3% in January 2017.
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.
Analyzing Short Interest Trends in Chesapeake Energy’s Stock
Chesapeake Energy’s (CHK) short interest ratio on March 24, 2017, was ~15.02%. But its short interest ratio at the start of the year was ~11.6%.
Could Fall in Natural Gas Inventories Push Prices Higher?
In the week ended January 12, 2018, natural gas inventories declined by 183 Bcf (billion cubic feet) to 2,584 Bcf.
Chesapeake Energy Stock: Analyzing Short Interest Trends
Chesapeake Energy’s (CHK) short interest ratio on January 27, 2017, was ~1.1%.
What Are the Short Interest Trends for EQT?
On February 15, 2018, short interest as a percentage of float (or short interest ratio) for EQT (EQT) stock was 1.7%. It was 4.8% a year ago.
EIA Upgrades US Natural Gas Production Forecasts for 2018, 2019
Pointlogic, a market intelligence company, estimates that US dry natural gas production increased 0.3% to 79.8 Bcf (billion cubic feet) per day from June 7 to June 13.
Cabot’s stock performance when commodity prices plummeted
Most of the stock performance declined as natural gas prices and oil prices declined. So did the energy sector ETF, the Energy Select Sector SPDR ETF (XLE).
Why Natural Gas Recovery Could Affect Gas-Weighted Stocks
On August 7, 2017, natural gas September futures rose 1.0% and closed at $2.80 per MMBtu. The forecast of higher temperatures raised natural gas prices.
What Were SPY’s Top Stocks?
The stocks at the top of the SPDR S&P 500 ETF (SPY) on January 7, 2016, were GAP (GPS), EQT (EQT), and Constellation Brands (STZ).
Rise in Natural Gas Isn’t Good for Gas-Weighted Stocks
On March 3, 2016, natural gas futures touched a 17-year low. From March 3, 2016, to March 20, 2017, natural gas rose 85.4% on a closing price basis.
Oil Rig Count: A Headache for Natural Gas Bulls
In the week ending March 9, 2018, the oil rig count declined by four to 796. However, we could see upside in the oil rig count until July 2018.
What’s Moving in Your High Volatility Upstream Stocks Portfolio?
On December 5, 2016, Occidental Petroleum (OXY) had the lowest implied volatility among upstream stocks that are part of XOP.
Returns of Upstream Stocks with High and Low Implied Volatility
Cobalt International Energy stock fell ~76.3% on a YTD (year-to-date) basis, the steepest YTD fall among upstream stocks with the highest implied volatilities.
Natural Gas Prices Are Nearly Flat despite Warm Weather Estimates
Natural gas futures contracts for October delivery rose by 0.13%. Rising natural gas stocks will continue to put downward pressure on natural gas prices.
Are Natural Gas–Weighted Stocks Underperforming Natural Gas?
From October 9–16, 2017, our list of natural gas–weighted stocks fell 2.4% compared to a 4.0% rise in natural gas’s (GASL) (GASX) November futures.
What Is Pioneer Natural Resources’ Production Guidance for 1Q16?
For 1Q16, Pioneer Natural Resources (PXD) expects total production in a range of 211,000–216,000 boepd (barrels of oil equivalent per day).
Which Gas-Heavy Stocks Outperformed amid Falling Natural Gas?
Between February 10, 2017, and February 17, 2017, natural gas futures contracts for March 2017 delivery fell 6.6%.
Why Are Gas-Weighted Stocks Losing Momentum?
On March 3, 2016, natural gas futures touched a 17-year low. From March 3, 2016, to February 6, 2017, natural gas rose 86% on a closing price basis.
A Look at the Rig Count and Natural Gas
On December 15, 2017, the natural gas rig count was 88.6% lower than its record high in 2008.
What’s Moving in Your High Volatility Upstream Stock Portfolio?
On December 9, 2016, Occidental Petroleum (OXY) had the lowest implied volatility among upstream stocks that are part of XOP.
What’s in Store for Chesapeake Energy in 3Q17?
Chesapeake Energy (CHK) will release its earnings on November 2, 2017, before the market opens. Its 3Q17 revenue estimate is ~$2.1 billion, which is lower than $2.28 billion in 2Q17.
Natural gas inventory figures crush analysts’ expectations
The U.S. Energy Information Administration reported a 112 Bcf natural gas inventory build for the week ending September 26.
Inventories Spread: Natural Gas Prices Could Rise
In the week ending July 14, 2017, natural gas inventories rose by 28 Bcf to 2,973 Bcf. The market expected a rise of 39 Bcf for the week ending July 14.
Gauging EQT Corporation’s Capex and Free Cash Flow Trends
Let’s take a look at EQT Corporation’s (EQT) capex and free cash flow trends.