30.90 +0.07 (0.23%)
After hours: 5:44PM EDT
|Bid||30.50 x 1300|
|Ask||30.83 x 2200|
|Day's Range||29.89 - 30.88|
|52 Week Range||24.56 - 50.03|
|Beta (3Y Monthly)||1.92|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||1.00 (3.04%)|
|1y Target Est||36.74|
Apache (APA) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
After falling oil prices at the end of 2018 forced Apache to cut its budget, the company temporarily stopped its hunt for oil in parts of the field. In the meantime, it’s opening three plants to process the profusion of natural gas it’s found into more marketable propane and butane. The natural gas liquids “do add value,” said Ryan Luther, a senior research associate for RS Energy Group Inc. Still, that value is only about 40% that of a barrel of oil.
Chesapeake Energy's (CHK) first-quarter 2019 earnings are affected by lower production volumes and a decline in natural gas prices.
Diamondback Energy's (FANG) production of oil and natural gas averaged 262.6 thousand barrels of oil equivalent per day (68% oil), up 156% from the year-ago quarter.
Callon Petroleum's (CPE) first-quarter 2019 earnings are supported by higher production volumes, partially offset by increased operating expenses.
MPLX's first-quarter earnings are supported by contribution from dropdown transactions related to the Logistics and Supply segment's pipelines and refining logistics assets.
Altus Midstream Company (“Altus”) (ALTM) today announced that Altus Midstream LP (“Altus Midstream”) has entered into definitive agreements to issue $625 million of preferred equity in a private placement and amend its credit facility, which will allow Altus Midstream’s revolver capacity to increase to $650 million during the Initial Period (as defined in Altus Midstream’s credit agreement), an increase of $200 million.
TC Energy's (TRP) current portfolio includes around C$30 billion of accretive growth projects, of which roughly C$7-billion worth projects are expecting completion by year-end.
Encana (ECA) delivered its sixth earnings beat in as many quarters on the back of increased production volumes and higher oil price realizations.
Apache Corp NYSE:APAView full report here! Summary * Perception of the company's creditworthiness is neutral * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is moderate * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is moderate for APA with between 5 and 10% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $2.70 billion over the last one-month into ETFs that hold APA are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS MarkitThere is no PMI sector data available for this security. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. Although APA credit default swap spreads are rising, indicating the market's more negative perception of the company's credit worthiness, they are still comfortably within the range of the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
ConocoPhillips (NYSE:COP) fell in Wednesday and Thursday trading despite beating earnings and revenue estimates. The Houston-based oil producer beat estimates on production levels and plans to cap capital expenditures. Despite a partial recovery in Friday trading, COP stock still sells below pre-announcement levels.Source: Shutterstock However, investors may want to take a second look at this oil stock. Over time, a focused strategy, its reasonable valuation, and rising geopolitical tensions could lead to a turnaround for ConocoPhillips stock. COP Stock Fell Despite Beating on Earnings, RevenueConocoPhillips reported first-quarter earnings of $1.00 per share, just over 4% higher than the 96 cents per share the company earned in the same quarter last year. This also surpasses Wall Street estimates by 10 cents per share. The company beat on revenues as well, reporting $10.06 billion when analysts had predicted $9.16 billion. The company brought in $8.96 billion in the same quarter last year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn Wednesday, COP stock initially surged higher on the news, but it ended up falling on the day by over 0.7%. Many blame higher expenses, as the company has sought to increase production. These costs have weighed on ConocoPhillips stock for more than two months. * 7 Stocks Worth Buying When They're Down COP stock suffered last fall, as oil fell to lows of just over $42 per barrel. As oil recovered, COP rallied from its $56.75-per-share low. For a brief time in February, it surpassed $70 per share. COP trades at over $62 per share at the time of this writing.Recently, COP has expressed a goal to become profitable even if oil falls to the $40 per share range. As a result, it has put many of its non-core assets on the market. Last month, the company agreed to sell oil and gas assets in the British North Sea to Chrysaor for $2.7 billion.This transformation may have caused some concerns as the stock has sold off in recent weeks. Now, COP stock trades about 12% below the highs of mid-February. Peers such as Hess (NYSE:HES), Apache (NYSE:APA), and Marathon Oil (NYSE:MRO) saw similar declines. COP Stock Looks More Like a BuyConocoPhillips operates in the upstream, or exploration and production, segment of the oil industry. As such, it sees more volatility due to its sensitivity to oil prices. As mentioned earlier, the company is working to make itself profitable even when oil prices fall. For this reason, the recent drop may have created a buying opportunity. Thanks to the lower stock price, COP stock trades at at a price-to-earnings (PE) ratio of just 13.6.Moreover, geopolitical tensions have risen. Venezuela remains in limbo amid its economic crisis. Also, the Middle East has again become volatile as the U.S. begins a ban on Iranian oil. This has led to tensions between Saudi Arabia and Iran, as the Saudis increase production to fill the gap.Whatever happens between those two countries, it lessens the likelihood of low oil prices. While ConocoPhillips maintains some operations in Libya and Qatar, the firm operates primarily in more stable regions of the world. That places the firm in a position to produce oil even if the world becomes more dangerous. Final Thoughts on COP StockStrategy, valuation, and political issues in some parts of the world could finally turn COP stock around. ConocoPhillips stock fell despite beating estimates on both earnings and revenue. It has also slid in recent weeks, possibly on rising costs. * 10 Vice Stocks to Spice Up Your Portfolio However, ConocoPhillips has focused their strategy to prosper even when oil prices fall. Also, a low PE ratio and rising political tensions in some oil-producing countries could work in the company's favor. Such pressures could become the catalyst COP stock needs to finally resume its move higher.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best Stocks to Buy for May * 7 Stocks Worth Buying When They're Down * 7 of the Best ETFs to Buy for a Slowing Economy Compare Brokers The post Buy ConocoPhillips Stock Following Its Beat on Earnings, Revenue appeared first on InvestorPlace.