|Bid||0.00 x 3200|
|Ask||0.00 x 1200|
|Day's Range||18.49 - 18.90|
|52 Week Range||16.31 - 22.69|
|PE Ratio (TTM)||25.81|
|Earnings Date||Oct 30, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||23.79|
Susquehanna upgraded Pioneer Natural Resources (PXD) in the week ending September 21. Susquehanna raised Pioneer Natural Resources to “positive,” which is equivalent to “buy” from “neutral,” which is equivalent to “hold.” Susquehanna increased Pioneer Natural Resources’ target price to $216 from $211. Barclays initiated coverage on Pioneer Natural Resources with an “overweight” rating, which is equivalent to “buy.” Overall, Pioneer Natural Resources has seen six rating updates in the past three months—three new coverage initiations and two rating upgrades.
A rise in natural gas liquids prices has boosted Antero Resources Corp (NYSE: AR ) stock by more than 17 percent since early September, but one Wall Street analyst now says the Antero rally has run out ...
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%
On September 19, natural gas October futures fell 0.9% and settled at $2.908 per MMBtu (million British thermal units). Concerns surrounding natural gas’s demand might have dragged active natural gas futures from the highest closing level since August 23.
On September 18, the natural gas futures for October closed at a premium of ~$0.28 to their October 2019 futures. On September 11, the futures spread was at a premium of $0.19. On September 11–18, natural gas October futures rose 3.7%.
In the week ending September 7, the inventories spread was -18.4%. The inventories spread is the difference between natural gas inventories and their five-year average.
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.
Natural gas prices have seen some volatility over the past few months, bouncing between highs near $3.00 per million British thermal units (MMBtu) and lows just above $2.50. The commodity currently trades at roughly $2.
On September 13, natural gas’s implied volatility was 22.4%, which was ~3.2% above its 15-day moving average. In the trailing week, natural gas’s implied volatility rose 3.2%. Natural gas October futures rose 1.6% during the same period. Since June, these two metrics have been moving in tandem.
Between September 5 and September 12, our list of natural gas–weighted stocks fell 2.4% overall, while natural gas October futures rose 1.2%. On average, natural gas–weighted stocks underperformed natural gas futures during this period.
On September 12, natural gas October futures were almost unchanged and settled at $2.829 per MMBtu (million British thermal units). However, concerns surrounding natural gas inventories and a fall in demand next week could drag on natural gas prices going forward.
Fortunately for investors hunting for an angle, natural gas (NG) inventories just happen to be at their lowest level in years. The upshot: Prolonged cold and snow could lead to NG shortages and price spikes, which put a bid under much-hated natural gas stocks. With the market looking shaky, NG names could outperform both the S&P 500 Index (SPX) and the SPDR S&P Oil & Gas Exploration & Production exchange traded fund (XOP (XOP) through the end of the year.
On September 11, 2018, the natural gas futures for October 2018 closed at a premium of ~$0.19 to their October 2019 futures. On September 4, 2018, the futures spread was at a premium of $0.18. Between September 4 and September 11, 2018, natural gas October futures rose 0.2%.
In the week ending August 31, 2018, the inventories spread was -18.7%. The inventories spread is the difference between natural gas inventories and their five-year average.
The recent weakness in natural gas prices should have an impact on the earnings of natural gas–weighted upstream stocks in the coming quarter. This trend could have an impact on their capex (capital expenditure) plans, which can be seen in their recent stock performance figures.
Between August 29 and September 5, our list of natural gas–weighted stocks fell 5.0%, while natural gas October futures fell 2.4%. On average, natural gas–weighted stocks underperformed natural gas futures during this period.
On September 4, the natural gas futures for October futures closed at a premium of ~$0.17 to their October 2019 futures. On August 28, the futures spread was at a premium of $0.18. On August 28–September 4, natural gas October futures fell 0.8%.
In the week ending August 24, the inventories spread was -19%. The inventories spread is the difference between natural gas inventories and their five-year average.
The company will next report results on Nov. 6 after the close. Analysts are looking for earnings of 44 cents per share on revenues of $495.2 million. When the company last reported on Aug. 7, earnings of 39 cents per share matched estimates on an 118.9% rise in revenues.
On August 24–31, the United States Natural Gas ETF (UNG) and the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) had returns of 0.3% and -0.3%, respectively. These ETFs track natural gas futures.
Cabot Oil & Gas (COG), a Marcellus region focused natural gas producer, is in the fourth spot in terms of least volatile E&P stocks. Cabot Oil & Gas is the least volatile gas-weighted E&P stock. COG’s 200-day volatility was 26.3% as of August 29, 2018. This is lower than that of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) at 27.5%. Peers Antero Resources (AR) and EQT (EQT) have a 200-day volatility of 31.5% and 34.4%, respectively.
Antero Resources (AR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
On August 22–29, our list of natural gas–weighted stocks fell 1.5%, while natural gas October futures fell 2.8%. On average, natural gas–weighted stocks outperformed natural gas futures during this period.