|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||133.30 - 136.21|
|52 Week Range||106.73 - 163.11|
|PE Ratio (TTM)||17.94|
|Earnings Date||Oct 29, 2018 - Nov 2, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||183.23|
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves after geopolitical events in Venezuela and Saudi Arabia drive up the price of crude oil.
BP Capital Fund Advisors, the hedge fund of legendary oil tycoon T Boone Pickens (Trades, Portfolio), released its second-quarter portfolio this week, listing 10 new positions. Warning! GuruFocus has detected 5 Warning Signs with ETE. Citing poor health and deteriorating returns, Pickens announced in a letter earlier this year that he was shutting down his hedge fund and transitioning it to a family office.
The U.S. economy is enjoying fast growth, but headwinds are building in the form of tariffs, trade tensions and other negative forces. Goldman Sachs projects that "real GDP growth will average 2.6% in 2019, decelerating from 2.9% this year," adding that, "in this environment, investors should favor stocks with the fastest sales growth," per their latest U.S. Weekly Kickstart report. Accordingly, Goldman recommends a basket of 50 stocks whose forecasted sales growth rates, based on consensus estimates, are significantly above that of the median stock in the S&P 500 Index (SPX). Among the fastest growers in Goldman's basket are Concho Resources Inc. ( CXO), Autodesk Inc. ( ADSK), Cabot Oil & Gas Corp. ( COG), Align Technology Inc. ( ALGN), Facebook Inc. ( FB) and Netflix Inc. ( NFLX).
On August 1–8, our list of oil-weighted stocks fell 0.7%, while US crude oil September futures fell 1.1%. On average, our list of oil-weighted stocks outperformed US crude oil prices.
The Zacks Analyst Blog Highlights: BP, Apache, Concho Resources, Petrobras and Marathon Petroleum
On August 6, US crude oil September futures closed ~$5.02 above the September 2019 futures contract. On July 30, the futures spread was at a premium of ~$5.08. On July 30–August 6, US crude oil September futures fell 1.6%.
On the news front, major energy players BP plc (BP), Apache Corporation (APA) and Concho Resources (CXO) reported strong second-quarter earnings.
Between July 27 and August 3, the United States Oil ETF (USO) fell 0.3%, the United States 12-Month Oil ETF (USL) fell 0.6%, and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 0.9%. These ETFs track US crude oil futures.
EOG Resources and Noble Energy said Friday they will shift well completions from the Permian Basin to their other oil assets.
Yesterday, US crude oil’s implied volatility was 23.4%, ~3.3% below its 15-day 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 163.1%. Crude oil’s implied volatility has fallen ~68.9% since February 11, 2016.
It has been a busy earnings season for the oil patch, which is why it would be easy for investors to have missed the solid performances of these three producers.
The pipeline bottleneck in west Texas continued to weigh on prices that shale producers actually fetched for the oil they pumped in Q2.
On August 1, US crude oil September futures fell 1.6% and closed at $67.66 per barrel. On the same day, the EIA (U.S. Energy Information Administration) reported a rise of 3.8 MMbbls (million barrels) in oil inventories compared to Reuters’ expectation of a fall of ~2.8 MMbbls.
Anadarko Petroleum (APC) reported its second-quarter earnings on July 31 after the markets closed. Crude oil price realizations in the second quarter were $68.43 per barrel compared to $47.19 per barrel in the second quarter of 2017. Anadarko Petroleum reported adjusted EPS of $0.54 in the second quarter, narrowly beating analysts’ consensus EPS estimate of $0.52.
NEW YORK, NY / ACCESSWIRE / August 2, 2018 / Concho Resources Inc. (NYSE: CXO ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 2, 2018 at 9:00 AM Eastern Time. ...
Concho Resources reveals that, in the second half of this year, it plans to begin drilling 'several development projects' on the acreage it acquired from RSP Permian Inc.
Concho Resources (CXO) delivered earnings and revenue surprises of 34.78% and 10.29%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
The Midland, Texas-based company said it had profit of 92 cents per share. Earnings, adjusted for non-recurring costs, came to $1.24 per share. The results beat Wall Street expectations. The average estimate ...
On July 31, the API (American Petroleum Institute) released its oil inventory report after crude oil futures’ settlement on NYMEX. The API reported that US crude oil inventories rose by 5.6 MMbbls (million barrels) on July 20–27. A Reuters survey estimates that US oil inventories could have fallen by 2.8 MMbbls during the same period. The U.S. Energy Information Administration is scheduled to release its oil inventory report on August 1.