|Bid||150.120 x 800|
|Ask||150.210 x 800|
|Day's Range||148.810 - 151.550|
|52 Week Range||106.730 - 163.110|
|PE Ratio (TTM)||19.54|
|Earnings Date||Aug 1, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||181.29|
About 76% of the analysts covering Anadarko Petroleum (APC) rated the stock as a “buy,” 21% rated it as a “hold,” and 3% rated it as “underperform.”
WTI (West Texas Intermediate) is the US benchmark for crude oil trading on the NYMEX (New York Mercantile Exchange). WTI is priced at Cushing, Oklahoma, which is the point of delivery for crude oil futures contracts trading on the NYMEX. WTI Midland is the price of crude oil at the Permian Basin.
Hedge funds’ net bullish positions in US crude oil futures and options decreased 0.1% to 433,938 on July 3–10. However, the positions are near the highest level since April 17. The positions increased by 255,284 contracts or 143% YoY (year-over-year). Hedge funds’ net bullish positions in US crude oil futures and options suggests that they remain bullish towards oil prices.
WTI crude oil prices hit $74.15 per barrel on June 29—the highest level since November 2014. However, Brent and WTI oil prices fell 5.2% and 4.2%, respectively, during the last two weeks. WTI oil prices fell 3.8% last week. However, the Energy Select Sector SPDR ETF (XLE) rose 0.8% last week. The companies in XLE develop and produce crude oil and natural gas and other energy-related services.
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Approximately 52% of analysts have rated Hess Corporation (HES) as a “hold,” and ~43% have rated it as a “buy.” The remaining ~5% have rated the stock as an “underperform.”
Around 75.75% of the analysts rated Anadarko Petroleum (APC) as a “buy,” 21.21% rated it as a “hold,” and 3% rated it as “underperform.”
To conclude our series, we’ll discuss Wall Street analysts’ recommendations for the leading decliners in the first half of 2018 from the Energy Select Sector SPDR ETF (XLE).
In the first half of 2018, Concho Resources (CXO) was the fourth-lowest performer among the energy stocks in the Energy Select Sector SPDR ETF (XLE). Concho Resources’ operations are focused on acquiring, developing, and exploring oil and natural gas properties in the Permian Basin of Southeast New Mexico and West Texas.
From June 29 to July 6, US crude oil August futures fell 0.5%. On July 6, US crude oil August futures settled at $73.80 per barrel—just 0.5% below the highest closing level of $74.15 per barrel since November 24, 2014. In the last six trading sessions, US crude oil futures haven’t decisively closed below the $73.00 mark despite several bearish factors.
In this part, we’ll see how hedge funds are positioning themselves in the leading first-half decliners from the Energy Select Sector SPDR ETF (XLE).
Around 75.75% of the analysts rated Anadarko Petroleum (APC) as a “buy,” 21.21% rated it as a “hold,” and 3% rated it as a “sell.”
WTI is the US benchmark for crude oil trading on NYMEX. WTI is priced at Cushing, Oklahoma. WTI is the point of delivery for futures contracts trading on NYMEX. WTI Midland is the price of oil at the Permian Basin. The WTI Cushing-WTI Midland spread reflects the pricing difference between a major production area and a major trading hub. The spread was at $12.5 per barrel on July 3—compared to $11.25 per barrel on June 27. The spread rose 11.11% on June 27–July 3.
Approximately 36.4% of Wall Street analysts rated Whiting Petroleum (WLL) a “buy” while 45.5% analysts rated it a “hold.” Around 12% have rated WLL “underperform.”
Between June 27 and July 3, our list of oil-weighted stocks rose 1.4%, while US crude oil August futures rose 5.1%.
On July 3, US crude oil August futures rose 0.3% and closed at $74.14 per barrel—the second-highest closing level for active US crude oil futures since November 24, 2014.
On July 2, US crude oil August futures closed ~$10 above the August 2019 futures contract. On June 25, the futures spread was at a premium of $5.4. On June 25–July 2, US crude oil August futures rose 8.6%.
With Concho Resources expected to complete its purchase of RSP Permian in 3Q, Rigzone looks at analyst views of the deal.
The S&P 500 Energy Sector Index declined by 8.7 points, or 1.6%, Monday on expected increases in supply and questions about OPEC's waning importance and ability to dictate price by controlling production. "Crude oil is the main driver as there will be more supply coming into the market, and it is evident that OPEC has lost its controlling power and the biggest uncertainty is in the Middle East, particularly the relationships between Saudi Arabia and Russia, and the Iranian sanctions," says Eliecer Palacios, managing partner of PetroRock Energy LLC in an interview with Real Money. Brent crude oil prices, which have been hovering at the highest level in three years, retreated to $77.36 per barrel on Monday and WTI crude price fell to $74.06 per barrel.
The current implied volatility in Whiting Petroleum (WLL) is ~52.4%, which is ~3% higher than its 15-day average of ~51.1%. In contrast, the broader energy sector, represented by the Energy Select Sector SPDR ETF (XLE), has an implied volatility of ~18.7%, which is 4.2% higher than the 15-day average of ~17.9%.
Canada’s crude oil supply is estimated to decline ~10% in July due to an electricity outage that shut down the Syncrude facility in Alberta. The facility can produce up to 360,000 bpd (barrels per day). It’s expected to be offline at least in July.
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.
The S&P 500’s top gainers on June 27 were: Concho Resources (CXO) gained 4.6%. Freeport-McMoRan (FCX) gained 4%. Apache (APA) gained 3.9%. EOG Resources (EOG) gained 3.6%. Pioneer Natural Resources (PXD) gained 3.5%. Concho Resources