Rice Energy Inc

Natural gas production from the lower 48 states of the US increased slightly by 0.6% to 79.82 Bcf as of May 20, 2015—compared to the previous week.

Following Rice Energy’s (RICE) 1Q16 earnings, Wall Street analysts updated their target prices for the company for the next 12 months.

The EIA (U.S. Energy Information Administration) lowered its production estimates for natural gas. The fall in production corresponds to lower natural gas prices.

Antero Midstream Partners, the midstream MLP formed by Antero Resources (AR) to provide natural gas midstream services, has 100 “buy” ratings.

On Thursday, September 3, 2015, natural gas prices rallied due to speculation of an increase in demand for natural gas as a result of the warm weather forecast.

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.

Natural gas prices fell for the fifth time over the last ten days. Prices fell by 4.6% more on the average down-days than on the average up-days.

December natural gas futures were almost flat at $2.26 per MMBtu on November 12, 2015. The natural gas prices didn’t change.

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.

Natural gas prices fell for the third-consecutive day on November 19, 2015, due to long-term oversupply concerns and rising natural gas inventories.

UNG shares trade on the New York Stock Exchange like company stock. UNG fell just 0.41% between September 18 and September 24.

September natural gas futures trading in NYMEX fell by 0.53% on August 7. Natural gas prices fell due to oversupply concerns and the mild weather forecast.

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).

In the two weeks since January 6, 2017, Chesapeake Energy (CHK) has returned about -4.6%, underperforming the energy sector.

September natural gas futures contracts rose by 1.32% on Tuesday on August 25, 2015. Natural gas prices rose due to warm weather estimates.

2016 has been good for natural gas prices (UGAZ). Prices have risen ~34% year-over-year.

October natural gas futures contracts trading in NYMEX rose by 2.41% on September 14. The rising demand due to warm weather estimates supported natural gas prices.

Antero Midstream Partners fell 6% last year. However, it had a strong start to the new year. It has risen 6.8% in 2018.

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.

Rice Energy’ 4Q16 EPS (earnings per share) was $0.37 compared to analysts’ consensus estimate of $0.03. Its 4Q15 EPS was $0.16.

Natural gas futures contracts for December delivery rose by 2.8% on October 30. Natural gas prices rose for the second day due to the cold weather forecast.

The United States Natural Gas ETF (UNG) tracks prompt natural gas futures. UNG shares rose 0.88% between September 4 and September 10.

September natural gas futures contracts trading in NYMEX rose by 2.18% on August 4, 2015. Prices rose for the second day due to the warm weather forecast.

Teekay LNG Partners (TGP) stock has risen 37.9% in the past year as of March 20, 2017.

NYMEX-traded natural gas futures contracts for October fell by 0.48% and closed at $2.70 per MMBtu on September 1. Prices were almost flat due to oversupply concerns.

NYMEX-traded natural gas futures contracts for January delivery fell by 3.8% and closed at $2.21 per MMBtu (British thermal units in millions) on Friday, November 27, 2015.

Natural gas futures contracts for September delivery rose by 1.79% on August 10. Natural gas prices rose due to the consensus of rising demand.

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%.

Chesapeake Energy’s (CHK) short interest ratio on January 27, 2017, was ~1.1%.

Rice Energy’s 2017 production guidance is 1,320 MMcfe/d. That’s a CAGR of ~70.0% since 2014.

Natural gas futures contracts for December expiry fell by 2.5% on Wednesday, November 11, 2015. Natural gas prices fell due to weak demand cues.

NYMEX-traded natural gas futures contracts for December delivery rose by 1% on November 16. Natural gas prices rose almost 5.5% in two days.

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.

Last week, total US natural gas consumption increased by 5.1% week-over-week. Consumption increased by 0.8% compared to last week in the residential and commercial sectors.

The United States Natural Gas ETF (UNG) tracks natural gas futures and trades on the NYSE. Notably, UNG fell by 7.53% between September 25 and October 1.

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.

October natural gas futures contracts trading in NYMEX rose by 1.13% on September 10. Natural gas prices rose due to the lower rise in inventory data.

UNG shares trade on the New York Stock Exchange like company stock. UNG fell 1.1% between August 21 and August 27.

One safer and low-cost avenue for betting on natural gas prices is the United States Natural Gas Fund (UNG), an ETF that tracks prompt natural gas futures.

Chesapeake Energy reported its 4Q16 earnings before the market opened on February 24, 2017. Its 4Q16 revenue was ~$2 billion, compared to an estimate of ~$2.6 billion.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) underperformed other energy ETFs from June 23–30, 2016.

NYMEX-traded natural gas futures contracts for October delivery fell by 1.09% on September 15. Natural gas prices fell despite the warm weather consensus.

NYMEX-traded September natural gas futures contracts rose by 1.18% on August 3, 2015. Natural gas prices rose due to warm weather estimates.

Let’s take a look at EQT Corporation’s (EQT) capex and free cash flow trends.

On March 3, 2016, natural gas futures touched a 17-year low of $1.64. From March 3 to October 24, 2016, natural gas rose 72.6% on a closing price basis.

October natural gas futures contracts trading in NYMEX rose by 2.07% on September 8. Natural gas prices rose for the second day due to hot weather estimates.

September natural gas futures contracts rose by 0.07% on August 11. Natural gas prices traded almost flat due to rising natural gas inventory estimates.

In the week ended October 6, 2017, the natural gas rig count fell by two to 187.

ETFs like the United States Natural Gas—UNG—ETF fell in the direction of natural gas prices on November 20, 2015. UNG fell by 4.7% on the day.

Between September 1 and September 11, 2017, our collection of natural gas–weighted stocks fell 3.1%, while natural gas October futures fell 3.9%.

December natural gas futures contracts fell by 2.8% on November 2, 2015. Natural gas prices fell due to mild winter estimates and weak demand cues.

Western Gas Partners is lagging behind its peers in terms of operating margin.

Teekay Offshore Partners (TOO) was the only MLP to see a rating update last week. Let’s take a closer look.

On July 7, 2017, the short interest ratio in Chesapeake Energy (CHK) stock was ~15%. In January 2017, Chesapeake Energy’s short interest ratio was ~11.6%.

The EIA reported that the US natural gas inventory fell by 32 Bcf (billion cubic feet) to 3,814 Bcf for the week ending December 18.

The fall in energy ETFs started after the fall in oil prices on July 5, 2016, and when Brexit concerns and supply-related fears resurfaced.

As of September 2, 2016, Enable Midstream Partners (ENBL) had the highest implied volatility at 45.6% among all of the midstream companies.

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.

EQT Midstream Partners posted a strong 18.0% YoY (year-over-year) rise in its EBITDA during the most recent quarter.

On February 21, 2018, EQT (EQT) announced its plan to separate its midstream operations into a stand-alone entity.

The Alerian MLP ETF (AMLP) fell 5.6%, the least among our list of energy ETFs in the week ended February 2, 2018.

Crestwood Equity Partners was upgraded by Capital One Securities to “overweight” in the week ending January 26, 2018.

CVR Partners, the MLP involved in nitrogen fertilizer production, was the top MLP loser in the week ending January 26. The partnership fell 7.1% last week.

Rice Midstream Partners (RMP) went through a rough patch in 2017 following the announcement of the EQT (EQT) merger with Rice Energy.

MLPs had a strong start to the new year. The Alerian MLP Index rose 5% in the first week of 2018.

Blueknight Energy Partners (BKEP) was the top MLP loser last week—it fell 6.8%. The partnership has lost 30.7% since the beginning of the year.

Antero Midstream Partners has lost 8.4% since the beginning of this year.

In this series, we’ll assess the performances of the MLPs with the highest EBITDA (earnings before interest, tax, depreciation, and amortization) margins.

Because of the Permian’s lowest break-even costs and high IRRs (internal rates of return), producers scooped up prime acreage that could produce at a profit even as crude oil prices stayed low.

On September 18, 2017, the short interest ratio in Chesapeake Energy (CHK) stock was ~22%. In January, the short interest ratio was ~12%.

On Monday, June 19, 2017, EQT (EQT) announced that it intends to acquire Rice Energy (RICE).

Cone Midstream Partners (CNNX) has been upgraded by Wells Fargo from “market perform” to “outperform,” which is equivalent to a “buy.”

On April 19, Cabot Oil and Gas’s short interest as a percentage of its float was ~4.5%. At the beginning of the year, its short interest ratio was 4.2%.

RMP’s natural gathering volume increased 71% year-over-year in 4Q16. The increase was largely driven by the partnership’s strong third-party volume growth.

On March 17, 2017, Chesapeake Energy’s (CHK) short interest ratio was ~15%. At the beginning of the year, its short interest ratio was ~11.6%.

On March 14, 2017, Cabot Oil and Gas’s (COG) short interest as a percentage of its float (or its short interest ratio) was ~3.5%.

Chesapeake Energy’s (CHK) short interest ratio (short interest as a percentage of float) on March 10, 2017, was ~15%.

Chesapeake Energy’s (CHK) current implied volatility is 56%—about 1.5% higher than its 15-day average of 55.2%.

Cabot Oil & Gas (COG) reported its 4Q16 earnings on February 24. Its 4Q16 revenue was ~$316.5 million compared to analysts’ estimates of $355 million.

Rice Energy’s (RICE) 4Q16 revenue rose ~109.0% YoY (year-over-year).

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%.

On January 23, EnLink Midstream had an implied volatility of 40.1%—the highest among the midstream companies in the Alerian MLP ETF (AMLP).

Chesapeake Energy’s (CHK) short interest ratio (short interest as a percentage of float) on January 20, 2017, was ~11.56%.

Cabot Oil & Gas’s (COG) short interest ratio on January 17, 2017, was ~4.2%. Its short interest ratio two months ago was ~5.2%.

On December 21, 2016, Anadarko Petroleum announced that it had agreed to sell a portion of its Marcellus natural gas (UGAZ) assets for ~$1.2 billion.

Chesapeake Energy stock closed $0.02 lower on December 20, but after its announcement of a second Haynesville Shale divestiture, it rose $0.02 to $7.31.

Cabot Oil & Gas’s operations are focused in two shale plays: Marcellus and Eagle Ford. COG holds ~200,000 net acres in Marcellus and ~86,000 net acres in Eagle Ford.

Between November 14 and November 21, 2016, the natural gas futures contracts for December delivery rose 7.3%.

On November 14, the natural gas futures contracts for November delivery closed at $2.75 per MMBtu. They were ~4.9% above their previous closing price.

Cabot Oil & Gas’s (COG) current implied volatility is ~42.4%, which is ~1.1% lower than its 15-day average of 42.9%.

Short interest On October 12, 2016, the short interest as a percentage of float, or the short interest ratio, of Cabot Oil & Gas’s (COG) stock was ~3%. Its short interest ratio on June 30, 2016, was 4%. This means that since the end of 2Q16, Cabot’s short interest has fallen ~27%. Cabot Oil & Gas’s […]

From March 3 to October 17, 2016, natural gas (UNG) (BOIL) (UGAZ) (FCG) rose 97.8% on a closing price basis.

On March 3, 2016, natural gas futures touched a 17-year low of $1.64. From March 3 to October 10, 2016, natural gas rose 99.7% on a closing price basis.

Following the news of its subpoena, Chesapeake Energy’s (CHK) implied volatility rose 4.6% on September 29 to ~83.8%.

On September 26, 2016, natural gas futures contracts for November delivery closed at $3.06 per MMBtu—1.4% above its previous closing price.

In this part of the series, we’ll look at Rice Energy’s (RICE) cash flows. In 2Q16, Rice reported cash flow from operations (or CFO) of ~$76 million.

In its organizational structure, Rice Energy, through its GP Holdings subsidiary, and the public hold 35% and 65% limited partner interest, respectively, in Rice Midstream Partners.

Chesapeake Energy’s (CHK) current implied volatility is 70%—about 13% lower than its 15-day average of 80.3%.

Chesapeake Energy’s (CHK) 2Q16 revenue decreased by ~43% YoY (year-over-year). Its YoY revenue growth was -26% in 2Q15 and -42.8% in 1Q16.

Cabot Oil and Gas’s (COG) current implied volatility is ~29.6%, ~8.3% lower than its 15-day average of 32.3%.