39.57 0.00 (0.00%)
After hours: 4:35PM EDT
|Bid||39.00 x 1200|
|Ask||39.55 x 800|
|Day's Range||38.05 - 40.68|
|52 Week Range||6.47 - 46.46|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 2, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||42.50|
On July 6–13, the ETFs that track US crude oil futures reported lower performance metrics. The United States Oil ETF (USO) fell 3.3%, the United States 12-Month Oil ETF (USL) fell 1.4%, and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 5.5%.
On July 6–13, upstream stock California Resources (CRC) saw the largest decline on our list of energy stocks. During that period, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 0.5%—the only decline among the major energy subsector ETFs that we discussed in Part 2 of this series. On July 10, California Resources announced that it’s scheduled to report its second-quarter earnings on August 2.
WallStEquities.com has initiated research coverage on California Resources Corp. (NYSE: CRC), Callon Petroleum Co. (NYSE: CPE), Canadian Natural Resources Ltd (NYSE: CNQ), and Chesapeake Energy Corp. (NYSE: CHK). The biggest drivers of Independent Oil and Gas companies are unquestionably oil and gas prices. When prices are high, independents can be aggressive in leasing mineral rights that are prospective for oil and gas, and then aggressively drill new wells.
On July 12, US crude oil August futures fell 0.1% and settled at $70.33 per barrel, the lowest closing level since June 25, 2018. Prices were relatively steady after the sharp fall on July 11. Between July 5 and July 12, US crude oil August futures declined 3.6%. On July 12, oil-weighted stocks Pioneer Natural Resources Company (PXD), EOG Resources (EOG), Denbury Resources (DNR), and California Resources (CRC) fell 0.1%, 0.4%, 2%, and 4.1%, respectively.
The EIA (U.S. Energy Information Administration) estimates that the US crude oil output was steady at 10,900,000 bpd (barrels per day) on June 29–July 6. The output was steady at a record high level for the fourth consecutive week. The US crude oil output increased by 1,503,000 bpd or ~16% from a year ago.
California Resources Corporation (CRC) will host its second quarter financial results conference call on Thursday, August 2nd at 5:00 pm EDT (2:00 pm PDT). The Company’s earnings and guidance will be released following the market close on the same date. We encourage participants to pre-register for the conference call webcast using the following link http://dpregister.com/10120726.
NEW YORK, NY / ACCESSWIRE / July 10, 2018 / U.S. equities continued to push higher on Monday, as strong economic data counters worries on rising trade tensions. The Dow Jones Industrial Average advanced ...
Investors need to pay close attention to California Resources (CRC) stock based on the movements in the options market lately.
On June 28, US crude oil’s implied volatility was 24.3%, 0.4% below its 15-day moving average. The inverse relationship between oil prices and oil’s implied volatility is illustrated in the graph below. Since reaching a 12-year low in February 2016, US crude oil active futures have risen 180.2%. Crude oil’s implied volatility fell ~66.7% between February 11, 2016, and June 28.
On June 27, US crude oil August futures rose 3.2% and closed at $72.76 per barrel—the highest closing level for active US crude oil futures since November 26, 2014. On June 20–27, US crude oil August futures rose 10.7%.
The EIA (U.S. Energy Information Administration) released its weekly US crude oil output data on June 27. The EIA reported that the US crude oil output was steady at 10,900,000 bpd (barrels per day) on June 15–22. The production has been steady at a record high level for the second straight week. The US crude oil output increased by 1,650,000 bpd or ~17.8% from a year ago.
On May 31, Occidental Petroleum’s (OXY) total shares shorted (or short interest) stood at ~9.0 million, whereas its average daily volume was ~4.8 million, meaning the short interest ratio for its stock was ~1.87x. Occidental’s average daily volume has been calculated for the short interest reporting period from May 16 to May 31. In January, OXY’s short interest ratio saw a 52-week high of 3.34x.
On June 22, Occidental Petroleum (OXY) had an implied volatility of ~20.1%, which was much lower than its implied volatility of ~24.6% on March 30. Last week, OXY’s implied volatility increased from ~19.3% to ~20.1%.
On June 25, US crude oil August futures closed $5.4 above the August 2019 futures contract. On June 18, the futures spread was at a premium of $3.8. On June 18–25, US crude oil August futures rose 3.6%.
According to the EIA’s (U.S. Energy Information Administration) report released on June 20, US crude oil inventories fell by ~5.9 MMbbls (million barrels) to ~426.5 MMbbls in the week ending June 15. The market expected a fall of ~3.7 MMbbls based on an S&P Global Platts survey. On June 20, US crude oil August futures rose 1.2%.
From June 15 to June 22, the ETFs that track US crude oil futures had the following performances: United States Oil ETF (USO): rose 7.4% United States 12 Month Oil ETF (USL): rose 4.9% ProShares Ultra Bloomberg Crude Oil ETF (UCO): rose 12.9%
On June 20, US crude oil August futures rose 1.2% and closed at $65.71 per barrel due to bullish inventory data. On June 13–20, US crude oil August futures fell 1.2%. On June 22, OPEC members are scheduled to meet to decide the fate of the production cut deal—a crucial factor for oil prices.
On June 8–15, the ETFs that track US crude oil futures had the following performances: The United States Oil ETF (USO) fell 1.7%. The United States 12 Month Oil ETF (USL) fell 2.3%. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 3.9%.
Having looked at this week’s gainers in the US upstream sector, we’ll now move to the stocks that have fallen the most. We’ll focus on oil and gas producers with a market capitalization greater than $100 million and an average trading volume greater than 100,000 shares.
In the third bullet point of the release dated May 30, 2018, the presentation time should read: 10:00 a.m. EDT.
From June 1–8, upstream California Resources (CRC) stock was the top gainer on our list of energy stocks. In the same period, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 0.3%, the underperformer among the major energy subsector ETFs we looked at in the previous part of this series.
NEW YORK, June 12, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Regency ...
Pre-market today, WallStEquities.com tracks four Independent Oil and Gas companies to see how they have fared over the previous trading sessions: Kosmos Energy Ltd. (NYSE: KOS), National Fuel Gas Co. (NYSE: NFG), California Resources Corp. (NYSE: CRC), and Callon Petroleum Co. (NYSE: CPE). Last Friday, shares in Hamilton, Bermuda-based Kosmos Energy Ltd. ended the session 0.63% lower at $7.95.