Diamondback Energy Inc

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    Energy & Utilities

    Are Oil’s Supply Concerns Rising?

    On May 21, US crude oil July futures closed $5.97 above the July 2019 futures contract. On May 14–21, US crude oil July futures rose 1.9%.

    By Rabindra Samanta
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    Energy & Utilities

    How Wall Street Analysts Rate CNX Resources

    The median target price on CNX Resources stock is $20.50, which is ~21% higher than its July 26 closing price of $17.01.

    By Nicholas Chapman
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    Earnings Report

    Did Occidental Petroleum Set a High Bar for 3Q16 Production?

    For 3Q16, Occidental Petroleum expects its total production from ongoing operations to be in the range of 600–605 Mboe per day.

    By Nicholas Chapman
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    Miscellaneous

    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%.

    By Nicholas Chapman
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    Company & Industry Overviews

    What’s Been Driving Diamondback Energy’s Stock Price Movement?

    Diamondback Energy’s stock price saw uptrend from October 2012 to June 2014. When NYMEX WTI crude oil started falling in June 2014, FANG’s stock peaked.

    By Nicholas Chapman
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    Company & Industry Overviews

    Why Crude Oil Prices Don’t Impact Crude Producers the Same

    For the past month, Energen had the highest correlation of ~0.94 with WTI crude oil (USO) prices. Occidental Petroleum had the lowest correction coefficient.

    By Nicholas Chapman
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    Earnings Report

    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.

    By Nicholas Chapman
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    Earnings Report

    Can Marathon Oil Report Higher Profits in Q2 2018?

    Marathon Oil (MRO) is set to report its Q2 earnings on August 1. Excluding one-time items, the net income estimate is ~$161 million.

    By Nicholas Chapman
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    Energy & Utilities

    Legacy Reserves: Top Upstream Gainer This Week

    In the week starting on March 26, 2018, Legacy Reserves LP increased from last week’s close of $4.47 to $4.94 on March 26—an increase of ~11%.

    By Nicholas Chapman
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    Energy & Utilities

    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.

    By Gordon Kristopher
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    Energy & Utilities

    Crude Oil: Analyzing the Futures Spread

    On August 20, US crude oil October futures closed ~$3.1 above the October 2019 futures contract.

    By Rabindra Samanta
  • uploads///MRO Q net debt to adjusted EBITDA
    Company & Industry Overviews

    Is Marathon Oil’s Debt Load Becoming Too Heavy for Its Declining Earnings?

    As of June 30, 2016, Marathon Oil’s total debt was ~$7.3 billion. With ~$2.6 billion in cash and cash equivalents, MRO’s net debt was ~$4.7 billion.

    By Nicholas Chapman
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    Energy & Utilities

    Energy XXI Gulf Coast Leads Upstream Gainers from June 18–20

    From June 18–20, Energy XXI Gulf Coast (EGC) rose from last week’s close of $7.49 to $8.97, an increase of 20%.

    By Nicholas Chapman
  • uploads///MRO Q Lifting Cost
    Company & Industry Overviews

    Marathon Oil’s Lifting Costs

    In 2Q17, Marathon Oil’s (MRO) reported a lifting cost of ~$6.75 per boe (barrel of oil equivalent), which is ~28.0% lower than its 2Q16 lifting cost of ~$10.88.

    By Nicholas Chapman
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    Energy & Utilities

    A Look at E&P Stocks’ Rating Updates Last Week

    Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week.

    By Kurt Gallon
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    Macroeconomic Analysis

    WTI Crude Oil Charts: Will History Repeat This Time?

    WTI crude oil futures for June delivery showed the rectangular trading range pattern. Oil prices have been fluctuating between $58 and $61 per barrel for the last ten days.

    By Gordon Kristopher
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    Energy & Utilities

    A Look into ConocoPhillips Institutional Holdings

    ConocoPhillips has fallen 0.6% YTD, underperforming the S&P 500 Index’s 25.5% gain. Subdued energy commodity prices could explain its underperformance.

    By Rabindra Samanta
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    Energy & Utilities

    Why Inventory Data Might Boost Oil Prices

    In the week ended August 31, 2018, US crude oil inventories were almost on par with their five-year average.

    By Rabindra Samanta
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    Energy & Utilities

    Why Did the WTI Cushing-WTI Midland Spread Drop?

    The WTI Cushing-WTI Midland spread was at $4.12 per barrel on June 25—compared to $9.7 per barrel on June 18. The spread fell 58% on June 18–25.

    By Gordon Kristopher
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    Energy & Utilities

    Weakest E&P Stocks for the Week Ending August 17

    Alta Mesa Resources (AMR), which is primarily focused in the STACK region, was the weakest E&P company in the week ending August 17.

    By Kurt Gallon
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    Energy & Utilities

    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.

    By Gordon Kristopher
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    Energy & Utilities

    US Crude Oil Prices Could Fall More

    On June 4, US crude oil July futures fell 1.6% and settled at $64.75 per barrel—the lowest closing level for active US crude oil futures since April 9.

    By Rabindra Samanta
  • uploads///MRO Q Net debt to EBITDA
    Company & Industry Overviews

    Is Marathon Oil’s Debt Load Becoming Too Heavy for its Declining Earnings?

    On September 30, MRO’s total debt was ~$7.3 billion. With ~$1.95 billion in cash and cash equivalents, MRO’s net debt was ~$5.3 billion at the end of 3Q16.

    By Nicholas Chapman
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    Macroeconomic Analysis

    Doji pattern: Crude Oil Prices Settle Below $60 per Barrel

    Massive supply and a strong dollar will continue to put pressure on oil prices. On the other hand, slowing US output could support crude oil prices.

    By Gordon Kristopher
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    Energy & Utilities

    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.

    By Rabindra Samanta
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    Energy & Utilities

    Did Oil ETFs Diverge from Oil Prices Last Week?

    On November 23–30, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 0.9% and 1.2%, respectively.

    By Rabindra Samanta
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    Energy & Utilities

    Oil-Weighted Stocks Could Be Impacted by Oil’s Fall

    On April 4, 2018, US crude oil May futures fell 0.2% and closed at $63.37 per barrel. On March 28–April 4, 2018, US crude oil May futures fell 1.6%.

    By Rabindra Samanta
  • uploads///FANG Analyst Recommendations
    Company & Industry Overviews

    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.”

    By Nicholas Chapman
  • uploads///COP Q Net Debt to EBITDA
    Company & Industry Overviews

    Should Investors Worry about ConocoPhillips’s Increased Debt Load?

    As of September 30, 2016, ConocoPhillips’s (COP) total debt stood at ~$28.7 billion.

    By Nicholas Chapman
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    Energy & Utilities

    US Crude Oil Is near a 3-Year High

    On March 21, 2018, US crude oil May futures rose 2.6% and closed at $65.17 per barrel.

    By Rabindra Samanta
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    Consumer

    Why Loeb Cut Exposure to Netflix, Microsoft, and Alibaba in Q4

    In its third-quarter letter to investors, Third Point told investors that it reduced its “tech exposure meaningfully.”

    By Anuradha Garg
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    Earnings Report

    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.

    By Nicholas Chapman
  • uploads///DVN Q Normalized
    Company & Industry Overviews

    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.

    By Nicholas Chapman
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    Company & Industry Overviews

    PDC Energy’s 2Q15 Net Income Plummets after Spiking in 4Q14

    In 2Q15, PDC Energy recorded a $47 million adjusted net loss. In 1Q15, it recorded $17 million in net income. Its 4Q14 net income of $132 million was the highest in the past 13 quarters.

    By Alex Chamberlin
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    Energy & Utilities

    S&P 500 Stocks: Analysts Bullish on Diamondback

    Diamondback Energy (FANG) has the second-highest percentage of “buy” ratings among the constituents of the S&P 500 Index (SPY). Here’s why.

    By Rabindra Samanta
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    Basic Materials

    Will Carl Icahn’s Fears Come True in October?

    Carl Icahn’s fears could come true in October. According to Goldman Sachs, the market might exhibit higher volatility next month.

    By Rabindra Samanta
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    Company & Industry Overviews

    Analyzing the Top 5 MLPs That Analysts Recommend

    In this article, we’ll look at five MLPs with at least 90% buy ratings: EPD, MPLX, Energy Transfer, Viper Energy Partners, and Black Stone Minerals.

    By Rekha Khandelwal, CFA
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    Energy & Utilities

    Analyzing the EIA’s Oil Inventory Data and Key Spreads

    Since the EIA released its inventory data last Wednesday, US crude oil August futures have risen 0.6%.

    By Rabindra Samanta
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    Company & Industry Overviews

    Why Diamondback Energy Has Been an Outperformer This Quarter

    Despite a higher correlation, FANG’s stock prices were insulated from the fall in US crude oil prices to a larger extent. On May 7, FANG reported its Q1 2019 earnings results, and on the next trading day, FANG stock rose 7.7% and extended its gains in the subsequent trading days.

    By Rabindra Samanta
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    Company & Industry Overviews

    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.

    By Rabindra Samanta
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    Company & Industry Overviews

    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.

    By Rabindra Samanta
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    Energy & Utilities

    Analysts Still Bullish on Permian-Based Upstream Stocks

    In this series, we’ll look at the top seven upstream companies that Wall Street analysts like the most.

    By Kurt Gallon
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    Energy & Utilities

    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.

    By Kurt Gallon
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    Earnings Report

    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.

    By Nicholas Chapman
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    Company & Industry Overviews

    VNOM and BSM: A Comparative Analysis of Two Mineral Interest MLPs

    In this series, we’ll perform a comparative analysis of Viper Energy Partners (VNOM) and Black Stone Minerals (BSM).

    By Kurt Gallon
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    Earnings Report

    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.

    By Nicholas Chapman
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    Energy & Utilities

    Rising Permian Production Has Been Straining Price Differentials

    The Midland-WTI crude oil price differential and the Waha–Henry Hub natural gas price basis differential have widened since the beginning of 2018.

    By Keisha Bandz
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    Energy & Utilities

    US Tight Oil Growth Driven by Increasing New Well Productivity

    According to the EIA (U.S. Energy Information Administration), US tight oil production has increased in part due to the increasing productivity of new wells.

    By Keisha Bandz
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    Miscellaneous

    CXO, SM, FANG, NBL, and SRCI’s Stock Performances

    SRC Energy (SRCI) was clearly the outperformer among its peers. SRC Energy has risen 78% YoY (year-over-year).

    By Keisha Bandz
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    Earnings Report

    Upstream Companies with the Highest Operating Margins

    In the first quarter, Concho Resources (CXO) reported operating margins of ~108%—compared to 173% in the first quarter of 2017.

    By Keisha Bandz
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    Miscellaneous

    Analyzing XEC, PXD, FANG, PVAC, and EOG’s Stock Prices

    Penn Virginia has risen ~48.2% YoY. EOG Resources and Diamondback Energy have increased ~37% and 33.8%, respectively, during the same period.

    By Keisha Bandz
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    Energy & Utilities

    Will There Be More Upside in the Oil Rig Count?

    In the week ending May 4, the oil rig count rose by nine to 834—the highest level in more than three years.

    By Rabindra Samanta
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    Energy & Utilities

    Oil Rig Count: Is More Upside Possible?

    In the week ending April 20, the oil rig count rose by five to 820—the highest level in more than three years.

    By Rabindra Samanta
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    Energy & Utilities

    Why the Oil Rig Count Could Concern Energy Investors

    In the week ending March 30, 2018, the oil rig count fell by seven to 797. US crude oil prices and the oil rig count usually move in a pattern.

    By Rabindra Samanta
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    Energy & Utilities

    Comparing Stock Performance: LPI, EQT, FANG, SRCI, and CXO

    Stock performance In this part, we’ll compare Laredo Petroleum’s (LPI), EQT’s (EQT), Diamondback Energy’s (FANG), SRC Energy’s (SRCI), and Concho Resources’ (CXO) stock performance. As we saw in the previous part, these stocks reported the widest net profit margins in fiscal 2017. Outliers and underperformers Diamondback Energy (FANG) outperformed its peers, rising 27% YoY (year-over-year). Meanwhile, […]

    By Keisha Bandz
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    Earnings Report

    These Upstream Companies Had the Widest Net Margins in 2017

    Top five upstream companies based on net margins Let’s now look at the five upstream companies with the widest net profit margins in fiscal 2017. Profit margins are helpful in gauging a company’s profitability and operational efficiency. Profit margin growth shows that a company is increasing its operational efficiency and making more money on each unit […]

    By Keisha Bandz
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    Energy & Utilities

    Performance Comparison: FANG, XEC, PVAC, PXD, and NFX

    Stock performance In this part, we’ll look at the stock performance of Diamondback Energy (FANG), Cimarex Energy (XEC), Penn Virginia (PVAC), Pioneer Natural Resources (PXD), and Newfield Exploration (NFX). These stocks reported the highest earnings per share in fiscal 2017, as we discussed in Part 3. Outliers and underperformers As shown above, Diamondback Energy (FANG) outperformed […]

    By Keisha Bandz
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    Earnings Report

    These Upstream Companies Reported the Highest Earnings in 2017

    Top five upstream companies based on earnings In this part, we’ll look at the five upstream companies with the highest adjusted EPS (earnings per share) in fiscal 2017. The top five were Diamondback Energy (FANG), Cimarex Energy (XEC), Penn Virginia (PVAC), Pioneer Natural Resources (PXD), and Newfield Exploration (NFX). Diamondback Energy Diamondback Energy reported adjusted EPS of $5.18 in fiscal […]

    By Keisha Bandz
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    Energy & Utilities

    Some Energy Stocks Gained More than Oil Last Week

    Tallgrass Energy Partners (TEP) was the fourth-highest gainer on our list of energy stocks last week.

    By Rabindra Samanta
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    Energy & Utilities

    Where Southwestern Energy Could Trade in the Next Year

    The median target price on Southwestern Energy stock is $7.00, which is ~73% higher than its closing price of $4.05 on February 2.

    By Nicholas Chapman
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    Company & Industry Overviews

    Are Institutional Investors Accumulating CNX Resources Stock?

    In 4Q17, 135 funds were buyers of CNX Resources (CNX) stock, and 112 funds were sellers.

    By Nicholas Chapman
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    Energy & Utilities

    CNX Resources: Pre-Earnings Wall Street Ratings

    As of January 30, 2018, Reuters reported 13 analysts having recommendations on CNX Resources (CNX) stock. Of those, 25% have given it a “strong buy” recommendation.

    By Nicholas Chapman
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    Energy & Utilities

    What Does Wall Street Predict for WPX Energy?

    In the last one month, WPX Energy stock’s median target price has risen from $16.00 to $16.50.

    By Nicholas Chapman
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    Energy & Utilities

    What Wall Street Analysts Predict for ConocoPhillips

    On November 24, 2017, of the 21 analysts covering COP, 28.6% recommended a “strong buy,” 42.9% recommended a “buy,” while the remaining 28.6% recommended a “hold.”

    By Nicholas Chapman
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    Earnings Report

    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.

    By Nicholas Chapman
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    Energy & Utilities

    Where Wall Street Thinks Southwestern Energy Could Trade in a Year

    On October 5, 2017, ~29.4% of analysts covering Southwestern Energy (SWN) gave “strong buy” or “buy” recommendations on the stock.

    By Nicholas Chapman
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    Energy & Utilities

    How Encana Stock Has Performed This Year

    Year-to-date, Encana’s (ECA) stock has fallen ~19% to $9.53. The stock is trading below its 50-week and 200-week moving averages.

    By Nicholas Chapman
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    Earnings Report

    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.”

    By Nicholas Chapman
  • uploads///COP Q Operating Netback
    Company & Industry Overviews

    Chart in Focus: ConocoPhillips’s Operating Netback

    What is the operating netback? The operating netback (also referred as production netback) is oil and gas revenue realized per boe (barrel of oil equivalent) after all costs to bring one boe to the market are subtracted from the realized price. The operating netback is derived by subtracting production expenses (or field operating expenses), production taxes, […]

    By Nicholas Chapman
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    Miscellaneous

    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.

    By Nicholas Chapman
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    Company & Industry Overviews

    Devon Energy’s Operating Netbacks

    In 1Q17, Devon Energy’s (DVN) reported operating netback was ~$16.68 per boe (barrel of oil equivalent), which is ~178% higher than in 1Q16.

    By Nicholas Chapman
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    Earnings Report

    Can Occidental Petroleum Report Net Profit in 1Q17?

    For 1Q17, the current consensus EPS estimate for Occidental Petroleum (OXY) is $0.07 per share, based on an adjusted net income of ~$71 million.

    By Nicholas Chapman
  • uploads///CIE Q Pre Net Income
    Earnings Report

    Will Cobalt International Energy Reduce Net Losses in 1Q17?

    Cobalt International Energy (CIE) is set to report its 1Q17 and 2016 earnings on May 1, 2017. Analysts expect it to report EPS of -$0.17 to -$0.04.

    By Nicholas Chapman
  • uploads///MRO Q Implied Volatility
    Miscellaneous

    What Does MRO’s Implied Volatility Forecast for Its Stock Price?

    On April 13, 2017, Marathon Oil (MRO) had an implied volatility of ~40.2%, ~20.8% lower than its 260-trading-day historical price volatility of ~50.8%.

    By Nicholas Chapman
  • uploads///DVN WU_ Implied Volatility
    Company & Industry Overviews

    Devon Energy’s Stock Price Range Forecast for the Week

    As of March 30, 2017, Devon Energy had an implied volatility of ~32.2%, which is ~25.6% below its 260-trading day historical price volatility of ~43.2%.

    By Nicholas Chapman
  • uploads///MRO Bolt On ProForma Details
    Company & Industry Overviews

    Analyzing Marathon Oil’s Pro Forma Permian Details

    On March 9, 2017, Marathon Oil acquired ~70,000 Permian net acres from BC Operating. On a pro forma basis, its Permian acreage will be ~91,000.

    By Nicholas Chapman
  • uploads///ECA Q Post Production
    Earnings Report

    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.

    By Nicholas Chapman
  • uploads///MRO Q Pre LOE
    Earnings Report

    Marathon Oil’s Lease Operating Expense Guidance

    North American exploration and production In August 2016, Marathon Oil (MRO) reduced its fiscal 2016 LOE (lease operating expenses) guidance for its North American E&P (exploration and production) operations by $1 per boe (barrel of oil equivalent) to $6–$7 per boe. In the first nine months of 2016, Marathon Oil’s LOE for North American E&P […]

    By Nicholas Chapman
  • uploads///MRO Q Pre Net Income
    Earnings Report

    Could Marathon Oil Have Reduced Net Losses in 4Q16?

    Marathon Oil (MRO) is set to report its 4Q16 and fiscal 2016 earnings on February 15, 2017. For 4Q16, excluding one-time items, the current consensus earnings per share estimate for Marathon is -$0.15.

    By Nicholas Chapman
  • uploads///DVN Q Pre Net Income
    Earnings Report

    Could Devon Energy Beat 4Q16 Earnings Estimates?

    Devon Energy (DVN) is set to report its 4Q16 and fiscal 2016 earnings on February 14, 2017, after the market closes.

    By Nicholas Chapman
  • uploads///MRO Q Debt per boe
    Company & Industry Overviews

    Marathon Oil’s Debt Load Matters

    For 3Q16, Marathon Oil (MRO) reported total debt of ~$197 per boe (barrel of oil equivalent) of production, which was ~4% lower than in with 3Q15.

    By Nicholas Chapman
  • uploads///MRO Q EPS Adjusted
    Company & Industry Overviews

    Understanding Marathon Oil’s Profitability Metrics in 3Q16

    Marathon Oil (MRO) reported an operating income of about -$203 million in 3Q16, up from about -$1.1 billion in 3Q15.

    By Nicholas Chapman
  • uploads///COP Q Pre Net Income
    Earnings Report

    Can ConocoPhillips Reduce Net Losses in 4Q16?

    In its 3Q16 earnings release in October 2016, ConocoPhillips reported negative but sequentially higher adjusted net income in 3Q16 compared to 2Q16.

    By Nicholas Chapman
  • uploads///CNX Q Pre Net Income
    Earnings Report

    Can Consol Energy Report a Profit in 4Q16?

    For 4Q16, excluding any one-time items, Wall Street analysts expect Consol Energy (CNX) to report EPS (earnings per share) of -$0.15–$0.13 per share.

    By Nicholas Chapman
  • uploads///COP Q Adjusted Earnings
    Company & Industry Overviews

    How Did ConocoPhillips’s Profitability Metrics Look in 3Q16?

    In 3Q16, ConocoPhillips reported higher operating income on a year-over-year basis.

    By Nicholas Chapman
  • uploads///DVN WU__Implied Volatility
    Company & Industry Overviews

    Devon Energy’s Stock Price Range Forecast for the Week

    Devon Energy’s implied volatility As of January 20, 2017, Devon Energy (DVN) had implied volatility of ~33.1%, which is ~42.4% below its 260-trading day historical price volatility of ~57.6%. Stock price range forecast for the week Assuming a normal distribution of prices and standard deviation of one, based on its implied volatility of ~33.1%, Devon […]

    By Nicholas Chapman
  • uploads///MUR Q Pre EPS
    Earnings Report

    Murphy Oil’s Profitability Metrics: Analyzing 4Q16 Estimates

    For 4Q16, excluding any one-time items, Wall Street analysts expect Murphy Oil to report higher net income on a YoY and sequential basis.

    By Nicholas Chapman
  • uploads///MRO Q WU Implied Volatility
    Company & Industry Overviews

    What’s Marathon Oil’s Price Range Forecast for the Week?

    As of January 13, 2017, Marathon Oil (MRO) had an implied volatility of ~40.3%, which is ~39.0% below its 260-day historical price volatility of ~66.1%.

    By Nicholas Chapman
  • uploads///COP Q Revenue Mix
    Company & Industry Overviews

    Here’s Why Crude Oil Prices Move ConocoPhillips Stock

    Almost 67.0% of COP’s E&P revenues came from crude oil and bitumen sales. COP stock has a stronger correlation with crude oil prices.

    By Nicholas Chapman
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    Company & Industry Overviews

    Analyzing PDC Energy’s 3Q16 Production

    In 3Q16, PDC Energy reported total production of ~65.3 Mboepd, ~39% higher compared to its total 3Q15 production of ~47 Mboepd.

    By Nicholas Chapman
  • uploads///CRC Q Production Costs
    Company & Industry Overviews

    Charts in Focus: CRC’s 3Q16 Production Costs and Margins

    Excluding hedges, in 3Q16, California Resources (CRC) reported a positive cash margin and a negative total margin.

    By Nicholas Chapman
  • uploads///DVN Q Tender Offers Debt per boe
    Company & Industry Overviews

    Chart in Focus: DVN’s Debt Normalized to Its Quarterly Production

    In 3Q16, Devon Energy (DVN) reported total debt of ~$214 per boe (barrel of oil equivalent) of production, ~12% higher compared to 3Q15.

    By Nicholas Chapman
  • uploads///MRO Q LOE
    Company & Industry Overviews

    Chart in Focus: Marathon Oil’s Lifting Costs

    In 3Q16, Marathon Oil’s (MRO) reported a lifting cost of ~$9.03 per boe (barrel of oil equivalent), which is ~9% lower than in 3Q15.

    By Nicholas Chapman
  • uploads///WTI Q Production Costs
    Company & Industry Overviews

    What Were W&T Offshore’s Production Costs and Margins for 3Q16?

    Excluding hedges, in 3Q16, W&T Offshore (WTI) reported a positive cash margin but a negative total margin.

    By Nicholas Chapman
  • uploads///SGY Q Oil and Gas Revenue
    Company & Industry Overviews

    What Is Stone Energy’s Oil and Gas Revenue Mix?

    In 3Q16, Stone Energy’s (SGY) operating revenue from crude oil (USO), natural gas (UNG), and natural gas liquids sales totaled ~$93 million.

    By Nicholas Chapman
  • uploads///Acquisitions Q Deal Values
    Company & Industry Overviews

    Analyzing Recent Acquisitions in the Oil and Gas Industry

    Recent acquisitions in the oil and gas industry In 2016, many upstream companies with strong balance sheets acquired low-cost acreage across different resource plays. In this part, we’ll study the acquisitions by S&P 500 companies Range Resources (RRC), EOG Resources (EOG), and Occidental Petroleum (OXY). Range Resources acquired Memorial Resource Development On May 17, 2016, […]

    By Nicholas Chapman
  • uploads///COP Q AIM Production Mix
    Company & Industry Overviews

    ConocoPhillips’s Production Mix Strategy for 2017–2018

    ConocoPhillips’s (COP) current production mix is ~50% oil, ~10% natural gas liquids, ~22% international natural gas, and ~18% North American natural gas.

    By Nicholas Chapman
  • uploads///EOG Q Post Cash Cost
    Earnings Report

    Understanding EOG Resources’ Cash Operating Cost Reduction in 2016

    For first nine months of 2016, EOG Resources reported cash operating costs of $12.16 per boe, which is about 14% lower than its $14.11 per boe in 2015.

    By Nicholas Chapman
  • uploads///DNR Q Post Cash Cost
    Earnings Report

    Denbury Resources’ Cash Operating Cost Reductions in 2016

    For the first nine months of 2016, Denbury Resources reported cash operating costs of $33.31 per boe, ~8% lower than its 2015 cash operating costs of $36.16 per boe.

    By Nicholas Chapman
  • uploads///MRO Q Post LOE
    Earnings Report

    Marathon Oil’s Lease Operating Expenses in 3Q16

    In 3Q16, Marathon Oil (MRO) reported North America LOE of $5.70 per boe (barrel of oil equivalent), which is ~23.0% less than 3Q15.

    By Nicholas Chapman
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