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DALLAS , Sept. 21, 2018 /PRNewswire/ -- Swank Capital, LLC, and Cushing ® Asset Management, LP, announce today the upcoming rebalancing of The Cushing ® Energy Supply Chain Index (the "Index") ...
This could indicate that investors who seek to profit from falling equity prices are not currently targeting APC. Over the last month, growth of ETFs holding APC is favorable, with net inflows of $13.98 billion. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing.
Royal Dutch Shell Plc, shedding assets to pay for its takeover of BG Group Plc, is in talks to sell its interest in a Gulf of Mexico oilfield to Focus Oil, according to people familiar with the matter. The deal could value Shell’s stake in the Caesar Tonga field at about $1.3 billion, said the people, who asked to not be identified because the matter isn’t public. Shell has a 22.5 percent working interest in Caesar Tonga, with the rest owned by companies including field operator Anadarko Petroleum Corp., Equinor ASA and Chevron Corp., according to company filings.
Equinor (EQNR) hires West Hercules for two exploration wells in the Barents Sea, which includes options for drilling nine additional wells.
On September 12–19, our list of natural gas–weighted stocks rose 7.4%, while natural gas October futures rose 2.8%. On average, natural gas–weighted stocks outperformed natural gas futures during this period.
The natural gas–weighted stocks under review that are sensitive to US crude oil November futures’ movements based on their correlations in the last five trading sessions are: Southwestern Energy (SWN) at 96.2% Chesapeake Energy (CHK) at 75% Range Resources (RRC) at 31.6%
Among the four upstream companies we’re looking at in this series, Anadarko Petroleum (APC) has received the most “buy” (82.9%) recommendations from analysts covering the stock. The remaining 17.1% recommend “hold.” Analysts’ bullishness toward APC could be due to its attractive valuation. Barclays recently initiated coverage on APC, assigning the stock an “overweight” rating, which is equivalent to “buy.” APC has seen six rating updates in past six months—five coverage initiations and one upgrade. APC is currently trading below the low range ($70) of analysts’ target price. ...
Capital World Investors added a major position in ConocoPhillips (COP) during the second quarter, buying 19.6 million COP shares for $1.4 billion. Meanwhile, Barrow, Hanley, Mewhinney & Strauss sold the most, unloading 8.4 million COP shares. Altogether, COP’s top ten buyers and sellers added 12.2 million net positions, indicating bullishness. The Vanguard Group has remained COP’s largest holder despite unloading 3.9 million positions during the quarter. It currently holds 7.6% of the company.
Over the past year or so, I’ve recommended Chesapeake Energy (NYSE:CHK) as a high-risk, high-reward play. Whether those calls were correct comes down mostly to timing: CHK stock continues to trade sideways, dipping below $3 earlier this year and climbing above $5 in July before yet another pullback to about $4. In fact, that’s both the good news and the bad news when it comes to Chesapeake Energy stock.
The natural gas rig count stood at 186 last week—unchanged from the previous week. However, the natural gas rig count has fallen ~88.5% from its record level of 1,606 in 2008.
Previously, we looked at ConocoPhillips’s (COP), EOG Resources’ (EOG), Occidental Petroleum’s (OXY), and Anadarko Petroleum’s (APC) recent market performance. In this article, we’ll look at the four stocks’ volatility.
As of September 13, ConocoPhillips (COP) and EOG Resources (EOG) were trading above their 200-day moving averages, while Occidental Petroleum (OXY) and Anadarko Petroleum (APC) have recently fallen below their long-term moving averages. OXY’s and APPC’s 200-day SMAs (simple moving averages) should now act as support. Among the four peers, only COP is trading above its short-term moving average, indicating bullishness toward COP.
Investors need to pay close attention to Anadarko Petroleum (APC) stock based on the movements in the options market lately.
Among the four upstream peers we’re looking at, EOG Resources (EOG) has the highest forward price-to-CFFO1 ratio, of 8.6x. EOG’s high valuation might reflect its strong CFFO growth potential, capital efficiency resulting in a higher return on capital employed, and low leverage. EOG’s CFFO is expected to grow 78.3% YoY (year-over-year) this year, and 25.4% and 16.4% in 2019 and 2020, respectively. However, EOG’s current multiple is below its historical average of 11.5x.
The shares purchased by DNB on behalf of Equinor on 14 September 2018 for use in the group's Share Saving Plan have on 19 September 2018 been distributed to the employees in accordance with their savings ...
Surging output from U.S. shale formations has boosted total crude oil production to a record high of nearly 10.7 million barrels a day (MM bbl/d), according to the U.S Energy Information Administration (EIA), making the U.S. the largest oil producer in the world. In February U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades at a moment when that country was negotiating production quotas with Russia. In June and August the U.S. surpassed Russia in crude oil production for the first time since February 1999.
So far in this series, we’ve compared ConocoPhillips’s (COP), EOG Resources’ (EOG), Occidental Petroleum’s (OXY), and Anadarko Petroleum’s (APC) proven reserves, recent operating performance, and capital expenditure guidance. In this article, we’ll look at their recent market performance.
SandRidge Energy (SD), a natural gas–weighted E&P company focused in the Mid-Continent and Niobrara Shale regions, was the weakest upstream stock in the week ending September 14. SandRidge Energy fell 22.7% last week. SandRidge Energy saw a massive fall last week following the announcement about ending the strategic review related to various takeover bids. Bill Griffin, SandRidge Energy’s CEO, said, “What we found through our comprehensive and thorough process was a significant disconnect between the intrinsic value of SandRidge and the bidders’ perception of the Company.”
This year, ConocoPhillips (COP) expects its capital expenditure to rise 30.7% YoY (year-over-year), to $6.0 billion from $4.6 billion. ConocoPhillips increased its capex guidance in the second quarter by $500 million.
Upstream energy stocks saw strong buying in the week ending September 14 amid sharp gains in crude oil prices. US crude oil went above $70 per barrel due to the bullish inventory report from the U.S. Energy Information Administration and Iran sanctions. The gains were partially offset by a decline due to concerns about how trade wars will impact global demand. Overall, US crude oil rose 1.8% and ended the week at $69 per barrel. On the other hand, US natural gas fell 0.3% and ended the week at $2.77 per MMBtu (million British thermal units).
Previously, we looked at ConocoPhillips’s (COP), EOG Resources’ (EOG), Occidental Petroleum’s (OXY), and Anadarko Petroleum’s production growth (APC). In this article, we’ll look into their adjusted EBITDAX (earnings before interest, tax, depreciation, and amortization, and exploration expenses) and free cash flow.
Between September 7 and 14, the United States Natural Gas ETF (UNG) and the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 0.5% and 2.9%, respectively. These ETFs track natural gas futures—UNG holds active natural gas futures contracts, while BOIL’s objective is to track the Bloomberg Natural Gas Subindex.