150.45 0.00 (0.00%)
After hours: 4:48PM EDT
|Bid||0.00 x 1100|
|Ask||0.00 x 1100|
|Day's Range||149.37 - 152.75|
|52 Week Range||123.63 - 163.11|
|Beta (3Y Monthly)||1.34|
|PE Ratio (TTM)||19.98|
|Earnings Date||Oct 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||183.78|
John Hofmeister, former president of Shell Oil Company, joins 'Closing Bell' to discuss the impact of the market sell-off on the energy sector.
Attractive stocks have exceptional fundamentals. In the case of Concho Resources Inc (NYSE:CXO), there’s is a company with impressive financial health as well as an optimistic growth outlook. Below is Read More...
The energy sector has been whipsawed by headlines lately, and many investors can’t decide whether to buy or sell oil stocks. When oil (CLX8) raced up to a new 52-week high of more than $76 to start October, many thought things looked great. Then as U.S. oil supplies rose and as OPEC production rose, things didn’t look so hot.
Crude oil is holding steady at $80 per barrel (Brent crude) in the aftermath of the disappearance of Saudi journalist Jamal Khashoggi and calls for Saudi Arabia to explain the situation. During a Bloomberg interview in London at the Oil & Money Conference, Ian Taylor, chairman of Vitol Group, one of the largest privately held crude oil traders, issued a bearish statement on oil prices, suggesting that the commodity could trade $10-$15 lower per barrel from current prices by 2019, rather than trading up. Taylor bases his forecast on two premises: there's already plenty of oil available in the market and as crude oil rallies there could be demand destruction, particularly from emerging economies that are sensitive to commodity prices and currency fluctuations.
Cimarex Energy (XEC), a Permian and Anadarko Basin focused exploration and production company, was the top upstream gainer in the week ending October 5. Cimarex Energy rose 6.7% last week. The gains could be attributed to gains in crude oil and natural gas prices. Natural gas formed ~43% of the total production in the second quarter, while ~29% was crude oil and ~28% was natural gas liquids. Overall, Cimarex Energy has lost 18.7% YTD, which could be attributed to sluggishness in natural gas prices.
Chesapeake Energy (CHK) saw a rating downgrade at Suntrust Robinson last week. Suntrust Robinson lowered Chesapeake Energy to “hold” from “buy” and reduced the target price to $5 from $6. Now, 58.3% of the analysts surveyed by Reuters rate Chesapeake Energy as a “hold,” 33.3% rate it as a “sell,” and 8.4% rate it as a “buy.” Currently, Chesapeake Energy is trading above its average target price of $4.5.
On October 1, US crude oil November futures closed ~$3.2 above the November 2019 futures. On September 24, the futures spread was at a premium of $3.42. On September 24–October 1, US crude oil November futures rose 4.5%.
As the teacher of technical analysis in a finance department filled with fundamentally and quantitatively oriented professors I find the combination of investment techniques more powerful. In the daily bar chart of CXO, below, we can see a number of bullish technical signals. The daily On-Balance-Volume (OBV) has strengthened the past two months telling us that buyers of CXO have been more aggressive.
On September 21–28, US crude oil November futures rose 3.5% and closed at $73.25 per barrel—$0.90 below its multiyear closing high. On June 29, US crude oil active futures settled at $74.15 per barrel—the highest closing level since November 24, 2014.
Concho Resources Inc. will host a conference call on Wednesday, October 31, 2018 at 8:00 AM CT to discuss third quarter 2018 financial and operating results.
Stocks that moved substantially or traded heavily Monday: Comcast Corp., down $2.27 to $35.63 Comcast outbid Twenty-First Century Fox and will pay about $39 billion for majority control of British satellite ...
Among the analysts surveyed by Reuters, 59.0% recommend Marathon Oil (MRO) as a “buy,” while 41.0% recommend it as a “hold.” Barclays last initiated coverage on Marathon Oil with an “overweight rating,” which is equivalent to “buy.” Overall, Marathon Oil has seen six rating updates since the beginning of 2018—four new coverage initiations and two upgrades. Marathon Oil’s average target price of $24.1 implies ~12% upside potential from the current price levels.
Recently, Marathon Oil (MRO) went above its short-term (50-day) moving average, which indicates bullish sentiment in the company. Marathon Oil was trading 4.5% above its 50-day simple moving average and 15.3% above its 200-day simple moving average as of September 18. In comparison, Apache (APA) and Murphy Oil (MUR) were trading 11.0% and 4.2% above their 200-day simple moving averages, while Concho Resources (CXO) was trading 1.0% below its 200-day simple moving average.
Between September 7 and 14, the United States Oil ETF (USO) rose 1.5%, the United States 12-Month Oil ETF (USL) rose 2.3%, and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 3%. These ETFs track US crude oil futures.
On September 13, US crude oil’s implied volatility was 25.4%, which is ~9% above its 15-day average. The inverse relationship between oil prices and oil’s implied volatility is illustrated in the following graph. Since reaching a 12-year low in February 2016, US crude oil active futures have risen 161.7%. Crude oil’s implied volatility has fallen ~66.2% since February 11, 2016.
Between September 5 and September 12, our list of oil-weighted stocks rose just 0.1% compared to the 2.4% rise in US crude oil October futures.
On September 12, US crude oil October futures rose 1.6% and closed at $70.37 per barrel—the highest closing level for active US crude oil futures since July 20. In the last trading session, the S&P 500 Index (SPY) was unchanged, while the Dow Jones Industrial Average Index (DIA) rose 0.1%.
With crude prices picking up steam, this is the perfect time to indulge in some energy stocks to make sure your portfolio is perfectly oiled up!
U.S. shale producers are locking in prices for their production as much as three years into the future in a sign that strong domestic crude pricing is nearing a peak, according to market sources familiar with money flows. "Hedging activity has picked up considerably over recent weeks and this will continue to be the case as producers begin to frame budgets for next year," said Michael Tran, commodity strategist at RBC Capital Markets, noting the rally in forward prices are encouraging the producer bets. Hedging can reduce risks associated with volatility in oil prices, acting as an insurance contract to lock in a future selling price and fix spending plans.
I am writing today to help inform people who are new to the stock market and want to learn about Return on Equity using a real-life example. Concho Resources Inc’sRead More...
DEEP DIVE If you ignore the daily warnings that the bull market in U.S. stocks is going to end, and instead look at valuations, you can see something remarkable happening: Stock prices have risen considerably, but price-to-earning valuations have fallen.
Concho Resources (CXO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Pioneer Natural Resources (PXD), an E&P (exploration and production) company with the majority of its operations in Texas, is in fifth place in terms of least volatile E&P stocks. PXD’s 200-day volatility was 27.5% as of August 29. PXD peers Diamondback Energy (FANG) and Concho Resources (CXO) have a 200-day volatility of 37.1% and 33.0%, respectively. PXD’s lower volatility could be attributed to the company’s strong hedging program and a strong financial position. The company has hedged ~85% of its total Permian acreage in 2018. ...
While these two fast-growing oil companies both completed needle-moving deals this year, a key difference in how they plan to allocate their oil-fueled cash flows sets one of these oil stocks apart.