24.96 0.00 (0.00%)
After hours: 4:56PM EST
|Bid||24.99 x 4000|
|Ask||25.00 x 900|
|Day's Range||24.82 - 25.62|
|52 Week Range||20.95 - 28.78|
|Beta (3Y Monthly)||0.27|
|PE Ratio (TTM)||47.63|
|Earnings Date||Feb 21, 2019 - Feb 25, 2019|
|Forward Dividend & Yield||0.28 (1.11%)|
|1y Target Est||27.34|
Your Energy Review for the Week Ended January 18(Continued from Prior Part)Natural gas ETFs Between January 11 and January 18, the United States Natural Gas ETF (UNG) rose 8.9%, while the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) rose 13.5%.
Measuring Oil's Impact on Upstream Energy Stocks(Continued from Prior Part)Natural gas–weighted stocks The natural gas–weighted stocks under review that might be inversely related to US crude oil February futures’ movements based on their
Measuring Oil's Impact on Upstream Energy Stocks(Continued from Prior Part)Natural gas On January 16, natural gas February futures fell 0.9% and settled at $3.38 per MMBtu (million British thermal units). Concerns about the weather have dragged
Is the Sharp Rise in Natural Gas Sustainable?(Continued from Prior Part)Natural gas rig count The natural gas rig count was at 202 last week, which was four more than the previous week. The rig count was at the highest level since September 2015.
HOUSTON , Jan. 14, 2019 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors declared a regular dividend of seven cents ($0.07) per share on the Company's ...
The natural gas rig count was at 198 last week, which was unchanged from the previous week and just two less than the highest level in 2018 since September 2015. The natural gas rig count has fallen ~87.7% from its record level of 1,606 in 2008.
What Happened in the Energy Sector Last Week (Continued from Prior Part) ## Natural gas ETFs Between December 28 and January 4, the United States Natural Gas ETF (UNG) fell 8.4%, while the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 17.4%. These ETFs track natural gas futures. UNG holds active natural gas futures contracts, while BOIL tracks daily changes in the Bloomberg Natural Gas Subindex. UNG has underperformed natural gas February futures, which have fallen 7.8% in the past four trading sessions. Lower natural gas prices could be negative for natural gas–weighted stocks. Cabot Oil & Gas (COG), Chesapeake Energy (CHK), Gulfport Energy (GPOR), and Southwestern Energy (SWN), the weakest natural gas–weighted stocks, rose 0.8%, 4.7%, 7.3%, and 10.5%, respectively, last week. All natural gas–weighted stocks rose. ## Long-term returns and forward curve Between March 3, 2016, and January 4, 2018, natural gas active futures rose 85.7% from their 17-year low, while UNG and BOIL returned 8.3% and -41.4%, respectively. Since March 3, 2016, UNG and BOIL have delivered lower returns than natural gas active futures, possibly due to a negative roll yield. BOIL’s actual and expected returns could also be different due to daily price changes. As of January 4, natural gas futures for delivery between February and May 2019 closed in descending order, which could be a positive sign for these ETFs’ returns. Continue to Next Part Browse this series on Market Realist: * Part 1 - What Goldman Sachs Thinks about Oil * Part 2 - Last Week in Review: Energy Outperforms Other Sectors * Part 3 - Last Week’s Top Energy Stocks
What to Expect from Natural Gas Next Week ## Natural gas’s implied volatility On January 3, natural gas’s implied volatility was 52.6%, which was ~26.6% below its 15-day moving average. In the trailing week, natural gas’s implied volatility fell 20.5%. Natural gas’s February futures fell 16.9% during the same period. Since June 2018, these two metrics have been moving in tandem. ## Natural gas prices and the weather forecast Based on natural gas’s implied volatility of 52.6% and assuming a normal distribution of prices, natural gas futures are expected to close between $2.75 and $3.14 per MMBtu 68.0% of the time until January 11. On January 3, natural gas February futures fell 0.4% to $2.945 per MMBtu. However, the weather forecast suggests colder weather after January 11, which might push natural gas to the upper limit of our price forecast. Today, the EIA reported a fall of 20 Bcf (billion cubic feet) in natural gas inventories for the week ended December 28. The fall was 27 Bcf less than Reuters’ analyst expectations. ## Impact on ETFs and stocks These price limits could be important for ETFs that follow natural gas futures. In the trailing week, the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 29%. Natural gas prices fell 16.9% during the same period. Natural-gas-weighted stocks Southwestern Energy (SWN), Cabot Oil & Gas (COG), Range Resources Corporation (RRC), and Antero Resources (AR) have fallen 1.1%, 1.6%, 2.4%, and 3.1%, respectively, in the trailing week. These stocks underperformed other natural-gas-weighted stocks in the trailing week.
What Might Spook Natural Gas in Early 2019?(Continued from Prior Part)Futures spread On December 31, the natural gas futures for February 2019 closed at a discount of ~$0.06 to the February 2020 futures.
What Might Spook Natural Gas in Early 2019?(Continued from Prior Part)Inventories spread and natural gas prices In the week ending on December 21, the inventories spread was -19.2%. The inventories spread is the difference between natural gas inventories and their five-year average.
What Might Spook Natural Gas in Early 2019?(Continued from Prior Part)Natural gas rig count The natural gas rig count was at 198 last week—one more than the previous week an just two less than the highest level in 2018 since September 2015.
Analysts say several oil exploration and production companies should benefit from rising oil prices, but beware of those most sensitive to shifting commodity prices.
On December 21–28, the United States Natural Gas ETF (UNG) fell 9.4%, while the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 17.5%. These ETFs track natural gas futures. UNG holds active natural gas futures contracts, while BOIL’s objective is to track twice the daily changes of the Bloomberg Natural Gas Subindex.
The natural gas rig count was at 197 last week—one less than the previous week. The natural gas rig count has fallen ~87.7% from its record level of 1,606 in 2008.
While volatility in the oil and gas prices is likely to persist in the near term, Marathon Oil's (MRO) impressive portfolio of diverse operations and balance sheet strength provide some ray of hope.
The Zacks Analyst Blog Highlights: Unit, Cabot Oil & Gas, SilverBow Resources, Archrock and TransCanada
Kosmos Energy (KOS) and its partners expect the FLNG facility for Phase 1 to provide about 2.5 million tons per annum on average.
These oil and gas stocks, by virtue of their solid earnings growth prediction and favorable Zacks Rank, hold the potential to make investors standout gains.
Antero Resources (AR) expects restructuring and monetizing of a portion of its hedge portfolio to strengthen the balance sheet.
Comstock (CRK) forecasts output growth and natural gas production for the next year in the band of 370-420 thousand cubic feet per day.