BTC iShares U.S. Oil & Gas Exploration & Production ETF
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.
Valero Energy’s Analyst Recommendations: No “Sell” Ratings
Barclays, Goldman Sachs, Credit Suisse, and Wolfe Research have positive recommendations for the stock. They gave price targets equal to $80 per share or above.
BP’s Upstream Segment: Large Upcoming Gas Projects
BP has a strong pipeline of projects in its upstream portfolio. These projects are expected to result in 800,000 barrels per day of new production by 2020.
What Do Analysts Recommend for Apache Pre-1Q16 Earnings Release?
In the weeks leading up to Apache’s (APA) 1Q16 earnings release, Wall Street analysts have provided target prices for the next 12 months.
What Are Analysts Forecasting for Apache in Next 12 Months?
APA’s high target price stands at $77. Its low target price is $42, and its median target price is ~$62.
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.
Crude Oil Market: Will Bullish Oil Traders Control 2017?
January WTI crude oil futures fell for the third straight day yesterday. Prices fell below the key psychological levels of $42 per barrel on November 30.
Oil’s Contango: Supply–Demand Fears Could Impact the Market
On October 3, 2017, US crude oil (USL) (OIIL) November 2018 futures settled $0.33 higher than the November 2017 futures.
Brent-WTI Spread: Will US Oil Exports Rise Further?
On October 24, 2017, Brent crude oil (BNO) active futures were $5.86 above WTI crude oil active futures.
Natural Gas: Are Winter Demand Fears Rising?
On January 2, 2018, natural gas (UNG) (BOIL) (FCG) February 2018 futures settled $0.025 less than February 2019 futures.
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.
Behind the Natural Gas Rig Count: Will Production Rise?
The natural gas rig count rose by four to 187 in the week ended September 8, 2017. On a YoY basis, the natural gas rig count more than doubled that week.
Crude Oil Market: Hedge Funds Are Bullish
The Chinese market rose by 3% on Thursday, October 9. China’s steps to improve its slowing economy sent positive vibes in the global crude oil market.
Why a Change in Inventory Could Make Oil Bulls Happy
According to the EIA’s report on July 18, US crude oil inventories rose by ~5.8 MMbbls to ~411.1 MMbbls in the week that ended on July 13.
Crude Oil Prices Fall from Key Resistance Level
WTI crude oil futures contracts for January delivery fell from the key resistance level of $44 per barrel on Friday, November 27.
Why the Brent-WTI Spread Could Make Global Oil Supplies Rise
On October 17, 2017, Brent crude oil (BNO) active futures closed $6 above the WTI (West Texas Intermediate) crude oil futures.
Is There a Correlation between TOT, Oil, and Natural Gas Prices?
The correlation coefficients of TOT versus Brent and WTI stand at 0.36 and 0.49, respectively.
Will Saudi Arabia’s Crude Oil Production and Exports Hit a New Low?
Saudi Arabia’s crude oil production is expected to fall to 9.77 MMbpd (million barrels per day) in November 2017, according to Saudi Aramco.
Oil Futures Spread: Oversupply Concerns Still Loom
On October 10, 2017, US crude oil (USO) (DBO) (OIIL) November 2018 futures traded $0.46 higher than November 2017 futures.
Refinery Maintenance Could Raise Gasoline Prices
The EIA’s (U.S Energy Information Administration) most recent weekly gasoline and diesel fuel price report showed that US regular gasoline retail prices averaged $2.02 per gallon yesterday.
Are US Distillate Inventories Bearish for Oil Prices?
US distillate inventories rose by 1,667,000 barrels or 1.3% to 129.4 MMbbls (million barrels) on November 24–December 1, 2017.
How Does Saudi Aramco’s Production Compare to Its Peers?
Saudi Aramco’s production accounted for 27% of OPEC’s average production in 2015. After Saudi Arabia, Iraq and Iran have the highest production in OPEC.
Crude Oil Bear Market: Worst Case Scenarios for 2016
Goldman Sachs (GS) suggests crude oil prices could test $20 per barrel in a worst case scenario in 2016.
Whiting Doubles 2017 Capex: What to Make of It
Whiting’s capex budget in 2017 Whiting Petroleum’s (WLL) 2017 capital budget is $1.1 billion, almost double its 2016 figure. It estimates that 96% of its total budget will be spent in its core Williston Basin and DJ (Denver-Julesburg) Basin (Redtail) regions. Increased focus on the Bakken and DJ Whiting has been increasing its focus on […]
Futures Spread: Does It Signal End of Oil’s Oversupply Concern?
On October 17, 2017, US crude oil (USO) (OIIL) December 2018 futures traded $0.46 below the December 2017 futures.
US Crude Oil Exports Could Be at a Tipping Point
On October 31, 2017, Brent crude oil (BNO) active futures were ~$7 above US crude oil (UCO) futures.
US Distillate Inventories Are near a 3-Year Low
US distillate inventories fell by 302,000 barrels to 128.9 MMbbls (million barrels) on October 20–27, 2017. It’s the lowest level since April 10, 2015.
US Natural Gas Consumption Could Help the Prices
US natural gas consumption fell 0.17% to 57.1 Bcf/d (billion cubic feet per day) on October 12–18, 2017. It rose 3.1% from the same period in 2016.
Energy Sector Headwinds: Supply Side Poses a Challenge
The supply side is adding to energy sector headwinds (IXC).
Short Interest Trends in Whiting Petroleum Stock
On March 3, 2017, Whiting Petroleum’s (WLL) short interest ratio was ~11.2%. Its short interest ratio was ~12.6% at the beginning of the year.
US Crude Oil Exports: Will They Affect OPEC’s Production Cut Deal?
On November 7, 2017, the difference between Brent crude oil (BNO) active futures and US crude oil (USO) active futures, or the Brent-WTI (West Texas Intermediate) spread, was $6.50.
Chesapeake Energy’s Revenue and Profit Margin Trends
Chesapeake Energy’s (CHK) 1Q17 revenue rose ~41% YoY. In comparison, its YoY revenue growth was approximately -39.3% in 1Q16 and -50.4% in 4Q16.
Can Government Incentives Boost Green Bond Growth?
In order for the green bond market to expand further, government roles are vital.
A Correlation Analysis of Shell and WTI
In this article, we’ll test the correlation between Royal Dutch Shell’s stock price and crude oil’s price.
What’s Hess’s Production Guidance and Key Management Strategies?
Hess provided a 2016 production guidance range of 330–350 Mboepd. This represents a decline of 7% at mid-point compared to 2015 levels.
How Will OPEC Respond to the Low Crude Oil Market in 2016?
In its December meeting, OPEC abandoned its collective production target of 30 MMbpd (million barrels per day). Interestingly, OPEC produced 32.1 MMbpd of crude oil in November 2015.
What to Expect from Noble Energy’s 1Q16 Earnings
Noble Energy (NBL) will release its 1Q16 earnings on May 4, 2016. Its 1Q16 revenue estimate is ~$868.3 million.
Comparing CXO and CHK on Production Growth
In 2016, Concho Resources (CXO) expects its annual production to be flat compared to 2015.
Is Slowing US Crude Oil Production a ‘Silver Lining’ for Oil Prices?
The US weekly crude oil production rose slightly by 25,000 bpd (barrels per day) to 9.2 MMbpd (million barrels per day) for the week ending November 6, 2015.
Rice Energy’s Earnings Forecast: What to Expect for 1Q16
Rice Energy will release its 1Q16 earnings on May 4. The company’s 1Q16 revenue estimates stand at ~$197.5 million. Its revenue in 1Q15 was ~$109.5 million.
Concho Resources: The Fourth-Lowest Energy Performer in XLE
In the first half of 2018, CXO fell from its 2017 close of $150.22 to $138.35—a moderate decrease of ~8.0%.
Natural Gas Market Could Be Pricing In a Supply Deficit
On January 16, 2018, the gap between natural gas’s February 2018 futures and February 2019 futures was $0.07, or the futures spread.
The Top 5 Upstream Companies Based on Return on Equity
The company with the highest trailing 12-month ROE (return on equity) as of 3Q17 is Carrizo Oil & Gas (CRZO) with an ROE of 52.1%.
Crude Oil Prices Are Positive before OPEC’s Meeting
US crude oil futures for January delivery rose 0.3% to $57.47 per barrel at 1:10 AM EST on November 30, 2017. Prices rose ahead of OPEC’s meeting.
Are Oversupply Concerns Gripping Natural Gas Prices?
On November 22, natural gas (UNG)(BOIL) January 2018 futures closed at a discount of ~$0.2 to January 2019 futures.
The Relationship between US Crude Oil Inventories and Oil Prices
Estimates for US crude oil inventories The EIA (U.S. Energy Information Administration) released its Weekly Petroleum Status Report on November 22, 2017. It reported that US crude oil inventories fell 1.9 MMbbls (million barrels) to 457.1 MMbbls between November 10 and 17, 2017. Inventories were 31.8 MMbbls (6.5%) lower than in the same period in 2016. The market anticipated […]
US Crude Oil Exports and Drilling Activity Impact OPEC
According to the EIA, US crude oil exports rose by 260,000 bpd to 1,129,000 bpd on November 3–10, 2017. Exports rose 30% week-over-week.
Natural Gas: OPEC’s Meeting Could Impact Supply and Demand
US natural gas production rose by 0.3 Bcf (billion cubic feet) per day to 75.9 Bcf per day on November 9–15, 2017. Production rose 0.4% week-over-week.
Russian and US Crude Oil Exports Are Important for Oil Bears
US crude oil exports fell by 1,264,000 bpd or 60% to 869,000 bpd on October 27–November 3, 2017. Exports rose by 459,000 bpd from the same period in 2016.
Futures Spread: Is the Oil Market Tightening?
On November 7, 2017, US crude oil (OIIL) December 2018 futures settled $2.08 below the December 2017 futures.
US Natural Gas Consumption Could Surpass Production
US natural gas consumption rose by 8.1 Bcf (billion cubic feet) per day to 64.5 Bcf per day on October 26–November 1, 2017.
US Crude Oil Inventories Fell 15%: Good News for Oil Bulls
The EIA estimates that nationwide crude oil inventories fell by 2,435,000 barrels to 454.9 MMbbls (million barrels) on October 20–27, 2017.
Understanding the Natural Gas Futures Spread: Are Oversupply Concerns Rising?
On November 1, natural gas December 2018 futures settled $0.22 above December 2017 futures. On October 25, the futures spread was at a premium of $0.11.
Is the Oil Market Balancing?
On October 31, 2017, US crude oil (USO) December 2018 futures settled $1.4 below December 2017 futures.
Will US Natural Gas Inventories Help Natural Gas Futures?
The EIA (or US Energy Information Administration) published its weekly US natural gas inventory report on October 26, 2017.
Reading the Natural Gas Futures Spread: Rising Oversupply Concerns
On October 11, 2017, the futures spread was at a premium of $0.13. Between then and October 18, natural gas November futures fell 1.2%.
US Natural Gas Production’s 22-Month High: Will Prices Collapse?
US dry natural gas production rose by 3 Bcf (billion cubic feet) per day to 75.9 Bcf per day in July 2017—compared with the previous month.
Why the Natural Gas Futures Spread Is Concerning Markets
When the futures spread is at a premium, or the premium rises, it could hamper the rise in natural gas prices.
Futures Spread: A Look at Natural Gas Supply–Demand Concerns
On October 4, 2017, natural gas (UNG) (GASL) November 2018 futures traded $0.08 above the November 2017 futures.
Understanding the Rising US Gasoline Inventories
The EIA estimated on September 27 that US gasoline inventories rose 1.1 MMbbls (million barrels) to 217.2 MMbbls from September 15–22, 2017.
Understanding the Oil Futures’ Forward Curve
On September 26, 2017, US crude oil November 2017 futures traded just $0.14 below the November 2018 futures.
Have Oil Supply Glut Concerns Relaxed since Harvey?
On September 5, US crude oil October 2018 futures traded at a premium of $1.94 to October 2017 futures. On August 29, the premium was at $2.37.
Natural Gas: Analyzing the Futures Spread
On August 30, 2017, natural gas October 2018 futures traded at a discount of ~$0.03 to October 2017 futures.
Oil’s Futures Spread: Have Supply Glut Concerns Increased?
On August 29, 2017, US crude oil (USL) October 2018 futures traded at a premium of $2.37 to October 2017 futures.
Natural Gas Futures Spread: Analyzing Supply-Glut Concerns
On August 23, 2017, natural gas September 2018 futures traded at a discount of $0.03 to September 2017 futures.
Could the Oil Rig Count Threaten Bullish Bets on Oil Prices?
The US oil rig count rose by three to 768 for the week ended August 11, 2017.
What Are Analysts’ Expectations for Apache in the Next 12 Months?
Approximately 52% of analysts have rated Apache (APA) a “hold.” The average broker target price of $51.21 implies a potential return of ~13.2% in the next 12 months.
What Analysts Are Recommending for Concho Resources
Approximately 50.0% of the analysts covering Concho Resources (CXO) stock have rated it a “buy,” and 26.5% have rated it a “strong buy.”
What Are the Short Interest Trends in Whiting Stock?
On March 24, 2017, Whiting Petroleum’s (WLL) short interest ratio, or its short interest as a percentage of its float, was ~12.2%.
Analysts’ Recommendations for Upstream Companies
Analysts’ recommendations In this final part of our series, we’ll look at Wall Street analysts’ targets for Apache (APA), Whiting Petroleum (WLL), Anadarko Petroleum (APC), Chesapeake Energy (CHK), Cabot Oil & Gas (COG), and Noble Energy (NBL). Consensus recommendations APC, COG, and NBL have the most “buy” recommendations among peers, with 53%, 43%, and 66%, respectively. […]
What Analysts Recommend for Cabot Oil & Gas after 4Q16
Approximately 43% of analysts rate Cabot Oil & Gas (COG) a “buy,” and 37% rate it a “hold.”
Cabot Oil & Gas’s Revenue and Profit Margin Trends
Cabot Oil & Gas’s (COG) 4Q16 revenue rose ~13% YoY (year-over-year). Its YoY revenue growth was -54.5% in 4Q15 and ~2% in 3Q16.
What Are Chesapeake Energy’s Revenue Trends?
Chesapeake Energy’s (CHK) 4Q16 revenue fell ~24% YoY (year-over-year). In comparison, its YoY revenue growth was ~-43% in 4Q15 and -32% in 3Q16.
Whiting Petroleum’s Implied Volatility: Key Trends
Whiting Petroleum’s (WLL) implied volatility as of February 22, 2017, was 48.5%, which was ~4.3% lower than its 15-day average of 50.7%.
Rice Energy’s Revenue Growth and Net Profit Margin Trends
Rice Energy’s (RICE) 4Q16 revenue rose ~109.0% YoY (year-over-year).
What Do the Short Interest Trends in Chesapeake Stock Tell Us?
On February 9, 2017, the short interest as a percentage of float (or short interest ratio) in Chesapeake Energy (CHK) stock was 12.2%.
Whiting Petroleum: Will Its 4Q16 Earnings Be Positive?
Whiting Petroleum is expected to release its 4Q16 earnings on February 21, 2017, after the markets close. For 4Q16, its revenue estimate is ~$345 million.
Analyzing Short Interest Trends in Noble’s Stock
On January 27, 2017, Noble Energy’s short interest as a percentage of its float, or its short interest ratio, was ~3.4%. Its short interest ratio at the end of 3Q16 was ~2.6%.
Whiting Petroleum’s Stock: Short Interest Trends
Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) on January 27, 2016, was ~11.65%.
Understanding Anadarko’s Short interest Trends
On January 25, 2017, APC short interest as a percentage of float, or short interest ratio, was ~1.7%. On September 30, 2016, it was ~2.2%.
Did Whiting Petroleum’s Stock Rise Due to Short Covering?
Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) on January 13, 2016, was ~13%.
What Does Chesapeake’s Debt Position Look Like?
Chesapeake Energy’s net debt-to-adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) has steadily risen since 4Q14.
Understanding Callon Petroleum’s Earnings Trend
CPE’s earnings have been beating analysts’ expectations since 3Q15. Its adjusted net income in 3Q16 was $12.9 million, as compared to $3.1 million in 3Q15.
Whiting Petroleum Announces Bakken Midstream Divestiture
On November 21, 2016, Whiting Petroleum announced its intention to sell its Bakken midstream assets to an affiliate of Tesoro Logistics Rockies for $375 million.
The Low-Down on Elliott’s Recommendations for Marathon Petroleum
Elliott Management’s first recommendation is to immediately drop down suitable midstream assets to MPLX (MPLX), MPC’s midstream MLP.
The Correlation between Integrated Energy Stocks and Oil Prices
Royal Dutch Shell’s (RDS.A) correlation coefficient versus WTI crude stands at 0.65, which is higher than ExxonMobil and Chevron.
How Dispersed Are Refining Capacities Globally?
In 2015, the global refining capacity was 97.2 MM bpd, of which 34% was located in Asia-Pacific. China accounted for 15% while India held 5% in 2014.
What Analysts Recommend for Cabot Oil & Gas after 3Q16 Earnings
Approximately 51.0% of analysts rate Cabot Oil & Gas (COG) a “buy,” and 46.0% rate it a “hold.” The remaining 3.0% rate it a “sell.”
Is Shorting Noble Energy Still the Way to Go?
On October 17, 2016, Noble Energy’s (NBL) short interest as a percentage of its float (or its short interest ratio) was 2.6 %.
What Are the Short Interest Trends in Anadarko’s Shares?
On October 17, 2016, Anadarko Petroleum’s (APC) short interest as a percentage of float, or short interest ratio, was ~2.2%. On June 30, 2016, it was ~2.5%.
Market to See How Noble’s Cost-Cutting Strategies Are Going
In 2Q16, Noble Energy’s 2016 production growth guidance rose to 415 Mboepd, compared to the 405 Mboepd it had forecast in 1Q16.
Where Do Analysts See Oasis Petroleum’s Stock Price in 12 Months?
Let’s take a look at the high, low, average, and median analyst target prices for Oasis Petroleum (OAS).
Are Analysts’ Target Prices for Hess Realistic?
Hess’s high target price stands at $85. Its low target price is $55, while its median target price is $65. Its stock price on October 13, 2016, was $51.52.
The Heaviest Factors that Weighed on Whiting Petroleum in 3Q
Whiting Petroleum (WLL) is expected to release its 3Q16 earnings on October 26, 2016, after the markets close.
3Q16 Pre-Earnings Release: Valero’s Stock Performance
In 2016, from the end of February to the end of April, refining cracks strengthened. But from the end of April to the end of June, cracks were mixed.
How Does Apache’s Valuation Compare to Peer Valuations?
Apache seems to be undervalued compared to its peers, as it is currently trading at a forward EV-to-EBITDA multiple of ~8.6x.
Why Were Antero Resources’s 2Q16 Earnings Better Than Its Peers’?
Lower natural gas prices (UNG) weighed heavily on the upstream companies, pulling down their realized prices. In 2Q16, EQT saw a 26% fall in its realized natural gas prices compared to 2Q15.
Analyzing Trends in Hess’s Total Debt
Since 2Q14, Hess’s total debt has risen significantly. In 2Q16, the company’s total debt was $6.5 billion compared to ~$6.1 billion in 2Q14 and $5.9 billion in 2Q15.
Climate Change Agenda Includes Social and Corporate Awareness
Assessment of climate risks should be done at an industry sector level to optimize climate risk opportunities.
Anadarko’s Short Float Shows Investors Are Bullish on Its Stock
On September 19, 2016, Anadarko Petroleum’s (APC) short interest as a percentage of its float, or its short interest ratio, was 2.1%.