|Bid||0.00 x 1000|
|Ask||143.50 x 800|
|Day's Range||142.27 - 145.03|
|52 Week Range||123.63 - 163.11|
|PE Ratio (TTM)||18.98|
|Earnings Date||Oct 29, 2018 - Nov 2, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||180.59|
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.
The Diamondback Energy (FANG)–Energen Corporation (EGN) deal announcement received a mixed reaction from Wall Street analysts. The company saw one rating downgrade, several target price increases, and several target cuts. BMO Capital Markets lowered Diamondback Energy (FANG) to “market perform,” which is equivalent to “hold,” from outperform, which is equivalent to “buy.”
Diamondback Energy (FANG) stock saw a massive correction following the announcement of the merger deal with Energen Corporation (EGN). FANG lost 12.0% in a single trading session following the announcement, eroding all its YTD (year-to-date) gains. Overall, FANG is down 8.3% since the deal announcement.
Before the announcement of its Energen Corporation (EGN) deal, Diamondback Energy (FANG) was the third-largest E&P player in terms of average daily production in the Permian Basin. It would continue to be the third-largest player in the Permian Basin, but the gap between the first two players and Diamondback Energy would decrease considerably following the completion of the merger.
There has been speculation that US E&P (exploration & production) companies have started reducing their focus on the Permian region due to the significant widening of the WTI (West Texas Intermediate) spreads resulting from pipeline constraints in the region.
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
From the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Dion Rabouin to discuss the latest market moves.