|Bid||70.00 x 1800|
|Ask||70.02 x 900|
|Day's Range||69.30 - 70.81|
|52 Week Range||39.96 - 72.70|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (1.48%)|
|1y Target Est||N/A|
Oil continues its rise in 2018, with the commodity now up by nearly 20% on West Texas Intermediate (WTI) crude, currently trading at roughly $72.00 per barrel. Anadarko is nearing a potentially big break out level, with shares rising towards resistance around $73.30. Should the stock fail, then it has a support level and an upward sloping trend line around $64.50, about 8.5% lower.
Pioneer Energy Services (PES) saw a big move last session, as its shares jumped nearly 6% on the day, amid huge volumes.
High crude oil prices and the improving natural gas pipeline capacity in the US have been driving the rise in natural gas supplies. WTI oil prices have risen ~68.1% since June 21, 2017. The decline in OECD oil inventories, geopolitical tensions, and ongoing production cuts are driving oil prices higher.
The current implied volatility in Whiting Petroleum (WLL) is ~44.9%. In comparison, its peers Apache Corp. (APA) and Anadarko Petroleum (APC) have implied volatilities of ~30.8% and ~26.8%, respectively. The broader energy sector, represented by the Energy Select Sector SPDR ETF (XLE), has an implied volatility of ~16.5%.
Increasing interest in the Permian Basin has been evident across the upstream oil and gas industry over the past two years. Distinguished Eagle Ford players such as Devon Energy (DVN) and Pioneer Natural Resources (PXD) dedicated their 2016 and 2017 budgets away from the Eagle Ford Shale. Both companies dedicated only two rigs to Eagle Ford in the first half of 2017.
Sponsored master limited partnerships (MLPs) appear on track to maintain rating appropriate leverage ratios through mid-2019, even as they continue to raise debt to fund growth projects and finance drop-down acquisitions of assets from their sponsors, Moody's Investors Service says in a new report. According to Moody's, borrowing at the MLP level weakens the sponsor's consolidated leverage, particularly for sponsors with large and higher levered MLPs. Among Moody's-rated MLP sponsors, elevated consolidated leverage is constraining the credit quality of Marathon Petroleum--which in April 2018 announced plans to acquire Andeavor--as well as Anadarko Petroleum Corporation, and has contributed to the rating agency's negative outlooks on the ratings of Phillips 66 and HollyFrontier Corporation.
The previous COO of the master limited partnerships, which were formed by Anadarko Petroleum Corp., was named COO of midstream for Alta Mesa Resources last month.
US natural gas futures increased 3.2% on May 3–10. Natural gas prices increased due to a lower increase in natural gas inventories. The United States Natural Gas ETF (UNG) and the First Trust Natural Gas ETF (FCG) increased ~3% and ~6%, respectively, on May 3–10. UNG seeks to track active natural gas futures. FCG seeks to track the performance of the index of companies involved in natural gas exploration and production.
On May 10, the EIA released its natural gas storage report. The EIA reported that US natural gas inventories increased by 89 Bcf (billion cubic feet) to 1,432 Bcf on April 27–May 4. However, the inventories dropped by 863 Bcf or 38% from a year ago.
“We’re being asked to expand into other states. We have more orders than we have walls."
The Zacks Analyst Blog Highlights: Schwab, NextEra, MetLife, Anadarko Petroleum and Williams Partners
Optimism about trade is what inspired the market to rally today, Jim Cramer told his Mad Money viewers Wednesday. Just a few months ago, if we'd had a day with oil above $70 a barrel and interest rates shooting above 3%, Cramer said, the markets would've tanked. Cramer reminded viewers that rising interest rates are not something to fear.
Oil firms, including Norway's Statoil, U.S.' Anadarko Petroleum Corp, China's CNOOC and Malaysia's Petronas, have shown interest in Argentina's auction this year of offshore blocks for exploration and production, the country's energy minister said on Wednesday. Argentina is still defining the blocks to be included in its auction, expected to receive bids in late November. The South American nation is also giving incentives for oil companies exploring at its large Vaca Muerta shale play to move from pilot to full development phase.