|Bid||2.00 x 1000|
|Ask||2.20 x 3100|
|Day's Range||2.0100 - 2.2200|
|52 Week Range||1.5300 - 6.7500|
|Beta (3Y Monthly)||4.88|
|PE Ratio (TTM)||3.34|
|Earnings Date||Feb 21, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.22|
On November 30–December 7, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) rose 3.5% and 4.6%, respectively. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 6.7%. These ETFs track US crude oil futures.
On December 7, the US 10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity yield spread fell to ~45 basis points—a multiyear low. The contraction in the yield spread might be due to investors’ demand for a longer-dated maturity security than a shorter dated security. In the last three decades, when the yield spread turned negative, a recession started in the next year. Another contraction in the yield spread might be trouble for oil bulls. Oil is a growth-driven asset.
Denbury Resources (DNR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
In the week ending on November 23, US crude oil inventories were 7% above their five-year average—one percentage point more than the previous week. Oil prices and the inventories spread usually move inversely, as you can see in the following chart. If the inventories spread expands more into the positive territory, it might drag down oil prices in the coming weeks. The inventories spread is the difference between inventories and their five-year average.
With derivative contracts and U.S. plays??? low break-even oil price, some oil producers are immune, to some extent, even if OPEC & allies decide against production cut.
On December 3, US crude oil January 2019 futures closed ~$1.12 below the January 2020 futures. On November 26, the futures spread was at a discount of ~$1.08. On November 28–December 3, US crude oil January futures rose 2.6%.
On November 23–30, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 0.9% and 1.2%, respectively. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 2.7%. These ETFs track US crude oil futures.
In November, US crude oil January futures and Brent crude oil February futures fell 22.2% and 20.8%, respectively. On December 3, at 5:25 AM EST, US crude oil January futures rose 4.4%—compared to the last closing price. The agreement between the US and China to not escalate trade disputes for 90 days might be behind oil’s gains. Based on CME’s OPEC Meeting Outcome Probability tool, for the meeting on December 6, there’s less than a 1% chance that OPEC might reduce the oil output significantly, which might evaporate oil’s gains from easing trade war concerns.
Denbury Resources (DNR) needs investors to pay close attention to the stock based on moves in the options market lately.
PLANO, Texas, Dec. 03, 2018 -- Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today announced that Chris Kendall, President and Chief Executive Officer, will.
Third Point owns 21,000,000 shares of the food-and-beverage company, or 7% of the outstanding stock. On Nov. 26, it revealed that it had entered a support agreement with Campbell that resulted in Third Point dropping its proxy contest at the Nov. 29 annual shareholders meeting. Campbell also agreed to expand its board to 14 seats from 12 and appoint two Third Point designees to fill those openings.
On November 26, US crude oil January 2019 futures closed ~$1.1 below January 2020 futures. On November 19, the futures spread was at a discount of ~$0.7. Between November 19 and 26, US crude oil January futures fell 9.7%.
On November 16–23, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 10.3% and 9.9%, respectively. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 19.9%. These ETFs track US crude oil futures.
On November 16–23, upstream stock Sanchez Energy (SN) fell the most on our list of energy stocks. In fact, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 6.5%—the most among the major energy subsector ETFs that we discussed in Part 2. Sanchez Energy is an oil-weighted stock. Sanchez Energy operates with production mixes of at least 60.0% in liquids based on the latest quarterly production data. Liquids include crude oil, condensates, and natural gas liquids. ...
On November 19, US crude oil January 2019 futures closed ~$0.7 below the January 2020 futures. On November 12, the futures spread was at a discount of ~$1.4. Between November 12–19, US crude oil January futures fell 4.8%.
On November 12–19, upstream stock EP Energy (EPE) fell the most on our list of upstream energy stocks. On November 7, EP Energy announced its third-quarter earnings results. The company reported an adjusted loss of $0.04 per share—compared to analysts’ consensus estimates for an EPS of $0.01. Since the earnings results, the stock has declined 33.6%.