Newfield Exploration Co
Traders Are Tracking OPEC’s Meeting on June 22
The crude oil production from OPEC and non-OPEC producers is expected to increase by 300,000 bpd–600,000 bpd in OPEC’s upcoming meeting.
Balyasny exits position in Newfield Exploration Co.
BAM exited its position in Newfield Exploration Co. in 3Q14. It accounted for 1.31% of BAM’s second quarter portfolio. NFX is an energy company.
Why Did Apache See the Worst Decline in 4Q15 Revenue?
Hess (HES), Apache (APA), Devon Energy (DVN), and Marathon Oil (MRO) recorded lower 4Q15 revenues compared to the corresponding quarter in 2014.
Citadel Advisors raises stake in JAKKS Pacific
Due to the enthusiastic response to its products from retailers, licensors, and consumers, JAKKS increased net sales guidance for the full year 2014.
Analyzing Short Interest Trends in Whiting Petroleum Stock
On September 8, 2017, the short interest as a percentage of float in Whiting Petroleum (WLL) stock, or its short interest ratio, was ~21.4%.
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.
Will Apache’s 2Q16 Earnings and Revenues Beat Estimates?
Apache (APA) is expected to release its 2Q16 earnings on August 4, 2016. Its revenue estimate is $1.3 billion. That’s 33% lower than 2Q15 and 26% higher than 1Q16.
Will 2017 or 2018 Mark the Return of the Bulls?
The EIA published its monthly STEO report on January 12, 2016. The global crude oil production will rise to 95.9 MMbpd in 2016 and 96.7 MMbpd in 2017.
Inside Chesapeake Energy’s 1Q16 Operational Highlights
Chesapeake Energy’s total production volume in 1Q16 was 672.4 Mboepd . This represents a YoY rise of ~1%, adjusted for asset sales.
US Distillate Inventories Rose for the Sixth Time in 7 Weeks
US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.
Crude Oil Prices Change Marginally: Led by China’s Imports
NYMEX-traded June WTI crude oil futures gained slightly by 0.76% and settled at $59.39 per barrel on May 8, 2015. Crude oil prices changed marginally.
What Are Callon Petroleum’s Free Cash Flow Trends?
In 3Q16, Callon Petroleum (CPE) reported CFO (cash flow from operations) of ~$12.3 million, which is ~51% lower than its CFO in 3Q15.
Is NFX Drilling More Efficiently than Its Peers?
Newfield Exploration (NFX) has considerably reduced the “days-to-drill” metric for its 10,000 foot, or “super extended laterals (SXL),” in the STACK play.
What Are Analysts’ Recommendations for Whiting Petroleum?
Approximately 51% of the analysts rated Whiting Petroleum a “buy,” ~44% rated it a “hold,” and ~5% rated it a “sell.” The average broker target price was $13.10.
US Crude Oil Production Achieved a New Record
The EIA released its weekly US crude oil production data on May 2. It reported that US crude oil production increased by 33,000 bpd (barrels per day) to a record high of 10,619,000 bpd.
Venezuela’s Falling Crude Oil Production Drives Oil Prices Higher
The EIA estimates that Venezuela’s crude oil production decreased by 45,000 bpd (barrels per day) to 1,465,000 bpd in April—compared to March.
Whiting Petroleum’s Capex Plans for 2018
Whiting Petroleum’s (WLL) 2018 capital expenditure forecast is $750 million, compared to its capex of $912 million in 2017.
US Crude Oil Prices Are Almost Flat as the US Dollar Depreciates
WTI crude oil futures contracts for December delivery rose by 0.26% October 29. Crude oil prices rose due to technical buying activity and the depreciating US dollar.
US Distillate Inventories Rose for the Eighth Time in 10 Weeks
US distillate inventories rose by 0.64 MMbbls (million barrels) to 139.8 MMbbls on January 12–19, 2018, according to the EIA.
Hedge Funds’ Net Bullish Positions in US Natural Gas
Hedge funds decreased their net bullish positions in US natural gas futures and options 1.1% to 190,432 on June 5–12.
The Rise or Fall of US Natural Gas Prices in 2Q17
As of April 6, 2017, US natural gas prices are above their 20-day, 50-day, 100-day, and 200-day moving averages. That suggests a bullish momentum for natural gas.
Denbury Resources’ Revenues Drive Its Profitability
Revenues for Denbury Resources Inc. (DNR) have almost doubled in the six years to 2014. They rose from ~$1.3 billion in 2008 to ~$2.4 billion in 2014.
Weather and Inventory Are Making Natural Gas Traders Bearish
Bearish natural gas traders will likely bet on mild weather and could raise their short positions as demand could drop during the peak period from November to March.
Crude Oil Market: US Dollar Down and API Data Up
NYMEX-traded WTI crude oil futures contracts for July delivery increased by 1.76% on June 2. The depreciation of the US dollar supported crude oil prices.
Crude Oil Prices Fall More than 4% on Iran Talks
NYMEX-traded WTI crude oil futures contracts for August delivery fell by 4.22% and settled at $56.96 per barrel on Wednesday, July 1, 2015.
Crude Oil Prices Increase after OPEC’s Meeting
Crude oil prices increased for the fifth day in the last ten trading sessions. WTI fared well in Friday’s trade. Oil prices rose more than 8% YTD.
Natural Gas Prices Are Trading above Key Moving Averages
US natural gas inventories are 25% higher than their five-year average. High natural gas inventories could also limit the upside for US natural gas prices.
Crude Oil Prices Are Almost Flat on Surging Holiday Driving Demand
August WTI crude oil futures trading in NYMEX fell marginally by 0.05% and closed at $56.93 per barrel on Thursday, July 2, 2015. Prices traded almost flat.
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 […]
What’s Happening with Whiting Petroleum Stock Recently?
Whiting Petroleum stock has been surging, rising ~2.8% in the five trading sessions leading up to June 11.
Asset Sales: Chesapeake Energy’s Key Focus in 2016
On August 10, 2016, CHK announced intentions to exit the Barnett Shale. This deal helped it eliminate ~$1.9 billion in commitments to Williams Partners.
Highlights from Citadel Advisors’ 13G filings
An analysis of 2Q14 hedge fund filings ranked Citadel and Renaissance the highest in terms of total equity holdings, followed by Millennium Management.
Japan and China Boost Crude Oil Prices
Crude oil prices surged on Monday—supported by rising demand from Asia and the US. The US Dollar Index appreciated against the major global currencies.
Crude Oil Prices Advanced ahead of the EIA Report
NYMEX-traded June WTI crude oil futures increased by 0.88% and settled at $60.93 per barrel on May 6, 2015. Crude oil prices increased.
Hedge Funds: Bullish or Bearish on Natural Gas?
Aegent Energy Advisors predicts that US natural gas prices might not exceed $3.18 per MMBtu by December 2017.
How Weekly US Natural Gas Production Trended in Early May
Weekly US dry natural gas production rose 0.3% to 70 Bcf (billion cubic feet) per day between April 27 and May 3, 2017.
US Natural Gas Price Forecasts for 2017 and 2018
The EIA estimates that US natural gas prices could average $3.55 per MMBtu in 2017 and $3.73 per MMBtu in 2018. Prices averaged $2.51 per MMBtu in 2016.
Will Natural Gas Prices Make a U-turn at $2.3 per MMBtu?
The consensus of rising natural gas inventory could push natural gas prices lower than the key resistance of $2.30 MMBtu.
What Are Whiting Petroleum’s Updated Capex Plans for 2017?
In its 2Q17 earnings conference, Whiting Petroleum (WLL) lowered its capex forecast for 2017 from $1.1 billion to $950 million.
Continental Resources’ 4Q16 Revenue and Profit Margin Trends
Continental Resources’ (CLR) 4Q16 revenue fell ~4.5% YoY (year-over-year). In comparison, its YoY revenue growth was -56.0% in 4Q15 and -23.0% in 3Q16.
US Natural Gas Prices Were Mixed in 2016: What’s Next?
US natural gas prices were on a rollercoaster ride in 2016. February 2017 natural gas futures contracts fell and closed at $3.72 per MMBtu on December 30.
Will US Natural Gas Prices Hit $2.25 per MMBtu?
The EIA (U.S. Energy Information Administration) estimates that US natural gas prices could average $3.43 per MMBtu in 2017 and $3.70 per MMBtu in 2018.
Changes in Whiting Petroleum’s Implied Volatility
Whiting Petroleum’s (WLL) current implied volatility is ~63%, which is ~7% lower than its 15-day average of ~68%.
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.
What Drove Newfield Exploration’s Recent Stock Performance?
The correlation coefficient between NFX’s stock price and crude oil prices from March 2015 to the present is 0.6. This indicates a strong positive correlation between the two.
Continental Resources increases wells and production
From 2011 to 2013, the number of Continental Resources’ net wells has increased 68%, to 334. From 2011 to 2013, Continental Resources’ total oil and natural gas production more than doubled.
US Natural Gas Production Makes History: What’s Next?
US natural gas production hit a record of 73.3 Bcf (billion cubic feet) per day in February 2016.
Why PDC Energy’s Production Strategies Have Helped Cash Flows
On January 20, 2016, PDC Energy (PDCE) announced that its production in fiscal 2015 was ~15.4 MMboe (million barrels of oil equivalent).
Will Earnings Data Help ConocoPhillips?
On January 18, ConocoPhillips shares closed 1.3% below the 200-day moving average. ConocoPhillips might test the key moving average.
Why Newfield Exploration Is Underperforming in 2018
In 2018 so far, Newfield Exploration (NFX) is the third-worst-performing US upstream stock.
Citadel Advisors increases stake in Rosetta Resources
Rosetta said its production for the quarter averaged 73.5 MBoe/d, an increase of 44% from the corresponding period in 2013 and 20% from the prior quarter.
Citadel Advisors ups position in Angie’s List
Angie’s List is an online consumer review business that helps its members research, hire, rate, review, and purchase local services for critical needs.
Citadel Advisors ups position in Blackhawk Network
Blackhawk’s 3Q14 results saw 31% revenue growth due to robust sales of open loop gift cards and the acquisitions of InteliSpend and Retailo.
HES Stayed Above Its 50-Day Average ahead of Its Earnings Release
On January 28, Hess Corporation (HES) stock closed 2.5% above its 50-day moving average.
A Look at the Short Interest Trends in Oasis Petroleum Stock
On July 20, short interest as a percentage of float in Oasis Petroleum (OAS) stock (its short interest ratio) was ~13.01%.
What to Expect from Oasis Petroleum’s Q2 2018 Earnings
Oasis Petroleum (OAS) is expected to release its second-quarter earnings on August 1.
Wall Street’s Targets for the Worst-Performing Upstream Stocks
We’ll now look at Wall Street’s recommendations for the worst performers in 2018 from the US oil and gas production, or upstream, sector.
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 […]
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 […]
Goodyear Tire and Rubber and Newfield Exploration Fell
Goodyear Tire and Rubber fell 8.1% to $30.75 on February 8. Goodyear Tire and Rubber is part of the S&P 500 Consumer Discretionary sector.
Implied Volatility of Top 5 Return on Equity Upstream Stocks
Carrizo Oil & Gas (CRZO) has the highest implied volatility among its peers, while Devon Energy (DVN) has the lowest implied volatility.
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%.
How Long Will Libya’s Crude Oil Supply Outage Affect Oil Futures?
On Tuesday, December 26, 2017, militants blew up the oil pipeline that transports crude oil to the port of Es Sider in Libya.
US Natural Gas Inventories Fell Last Week
US natural gas inventories fell by 182 Bcf (billion cubic feet) to 3,444 Bcf on December 8–15, 2017, according to the EIA.
Oil Prices: US Crude Oil Rigs Could Reverse the Trend
Baker Hughes estimated that US oil rig counts rose by nine to 747 on November 17–November 22, 2017. The rigs rose 1.2% week-over-week and 57.6% YoY.
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 […]
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.
Are US Natural Gas Inventories Bullish for Natural Gas Futures?
The EIA estimates that US gas inventories rose by 15 Bcf (billion cubic feet) or 0.4% to 3,790 Bcf on October 27–November 3, 2017.
Are US Gasoline Inventories a Pain for Crude Oil Bulls?
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories rose by 1.6 MMbbls to 218.9 MMbbls on September 22–29, 2017.
How US Natural Gas Production and Consumption Are Driving Prices
Market data provider PointLogic estimates that weekly US dry natural gas production fell by 0.2 Bcf (billion cubic feet) per day to 74.3 Bcf per day from September 21 to 27, 2017.
Will US Natural Gas Production Pressure Natural Gas Prices?
Market data provider PointLogic estimates that weekly US dry natural gas production rose by 0.2 Bcf (billion cubic feet) per day to 73.9 Bcf per day from September 7 to 13.
Why US Natural Gas Inventories Are above their 5-Year Average
On September 14, the EIA (U.S. Energy Information Administration) released its weekly US natural gas inventory report.
Key Observations on Whiting Petroleum’s Performance in the Bakken
The Bakken region has one of the highest break-even oil prices near $55 per barrel.
US Natural Gas Prices: Moving Averages and Price Forecasts
The EIA estimates that US natural gas prices could average $3.06 per MMBtu in 2017—1.4% lower than previous estimates.
Will US Natural Gas Inventories Fall below the 5-Year Average?
The EIA reported that US natural gas inventories rose by 30 Bcf (billion cubic feet) to 3,155 Bcf on August 18–25, 2017.
Newfield Exploration Was the S&P 500’s Top Gainer on August 4
Newfield Exploration was the S&P 500’s top gainer on August 4. On Friday, Newfield Exploration rose 8.9% to $27.83—the highest close in three days.
US Weather Could Drive Natural Gas Demand
US natural gas futures contracts for September delivery were trading flat at $2.96 per MMBtu in electronic trading at 1:45 AM EST on July 28, 2017.
US Natural Gas Production Is near a 2-Year Low
The EIA estimates that monthly US dry natural gas production fell by 2.37 Bcf per day, or 3.2%, to 71.6 Bcf per day in April 2017—compared to March 2017.
Slowing Natural Gas Inventories Could Drive Prices
The EIA reported that US natural gas inventories rose by 57 Bcf (billion cubic feet) to 2,945 Bcf on June 30–July 7, 2017.
Natural Gas Inventories: Almost 7% Higher than the 5-Year Average
The EIA reported that US natural gas inventories rose by 46 Bcf (billion cubic feet) to 2,816 Bcf on June 16–23, 2017.
US Natural Gas Inventories Pressure Prices
The EIA reported that US natural gas inventories rose by 54 Bcf to 2,115 Bcf on April 7–14, 2017. Inventories rose 2.6% week-over-week but fell 14.8% YoY.
Can We Predict the Price Range for Whiting Petroleum Stock?
Currently, Whiting Petroleum (WLL) has an implied volatility of ~55.7%, which is ~3.6% higher than its 15-day average of ~53.7%.
Analyzing US Natural Gas Inventories: Week Ending March 10
US natural gas inventories are at 2,242 Bcf for the week ending March 10, 2017—21.4% higher than their five-year average.
Analyzing Whiting Petroleum’s Stock Price Range
Currently, Whiting Petroleum (WLL) has an implied volatility of ~58.1%, which is ~14% higher than its 15-day average of ~51%.
Predictions for Whiting Petroleum’s 1-Week Stock Price Range
Currently, Whiting Petroleum (WLL) has an implied volatility of ~49.2%, which is in line with its 15-day average of ~49%.
Forecasting Whiting Petroleum’s 1-Week Stock Price Range
Whiting Petroleum has an implied volatility of ~51.1%—2.3% higher than its 15-day average. Its stock will likely close at $10.07–$11.61 in the next week.
Decoding US Natural Gas Inventories: Week Ending February 17
US natural gas inventories are at 2,356 Bcf for the week ending February 17, 2017—10% lower than the same period in 2016.
What WLL’s Implied Volatility Suggests for Its 1-Week Price Range
Currently, Whiting Petroleum (WLL) has an implied volatility of ~48.1%–7.7%, which is lower than its 15-day average of ~52%.
Analyzing Short Interest Trends in Oasis Petroleum’s Stock
On February 15, 2017, OAS’s short interest ratio was 15.3%. Its short interest ratio at the start of this year was 16%.
Whiting’s Implied Volatility: Forecasting Stock Price Range
Currently, Whiting Petroleum (WLL) has an implied volatility of ~51.1%—5.4% lower than its 15-day average of ~54%.
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%.
What Are the Short Interest Trends in Hess’s Stock?
On January 25, 2017, Hess Corporation’s (HES) short interest as a percentage of its float, or its short interest ratio, was 8.3%.
A Look at Hess’s Revenue and Profit Margin Trends since 4Q14
Hess Corporation’s (HES) 4Q16 revenue fell a marginal 0.01% YoY (year-over-year). Its YoY revenue growth was -42% in 4Q15 and -30% in 3Q16.
Whiting Petroleum’s Implied Volatility: Major Takeaways
Currently, Whiting Petroleum (WLL) has an implied volatility of ~54.89%, 4.4% higher than its 15-day average of ~52.56%.
What Is Continental Resources’ Free Cash Flow Goal?
In 3Q16, Continental Resources reported cash flow from operations (or CFO) of ~$366 million.
In Focus: Chesapeake Energy Has Been Divesting Assets since 2014
Chesapeake Energy (CHK) has been aggressively focusing on divesting its assets since 2014. At the end of 2014, the company had raised ~$6.1 billion in proceeds from asset sales.
Analysts’ Recommendations for CXO after Its Permian Acquisition
About 73.5% of Wall Street analysts rate Concho Resources (CXO) a “buy,” while ~20.5% rate it a “hold,” and ~6% rate it a “sell.”
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.
Oasis Petroleum’s Implied Volatility Is Higher than Its Peers
Oasis Petroleum’s current implied volatility is 69.4%—1.3% lower than its 15-day average of 70.3%. Earlier in 2016, its implied volatility peaked at ~149%.
Continental Resources’ 3Q16 Earnings: Must-Knows
Continental Resources (CLR) reported its 3Q16 earnings on November 2, 2016, after the market closed.