|Bid||115.70 x 1100|
|Ask||122.10 x 800|
|Day's Range||120.38 - 123.78|
|52 Week Range||95.36 - 133.53|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||18.33|
|Earnings Date||Nov 1, 2018|
|Forward Dividend & Yield||0.88 (0.72%)|
|1y Target Est||143.63|
NEW YORK, Oct. 12, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Energy stocks led the market lower on Thursday, falling 3.4% on fears of a supply glut. The Organization of the Petroleum Exporting Companies cut its forecast for oil demand in both 2018 and 2019 after accounting for lowered economic projections in various parts of the world.
EOG Resources (EOG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Apple and other tech stocks outperformed Tuesday as the key market indexes closed mixed after spending the session searching for direction.
The WTI Cushing-WTI Midland spread, a key indicator for Permian producers to watch, rose to $7.8 per barrel in the middle of last week before ending the week at $7 per barrel. The spread is significantly lower than the previous month’s high of $17.4 per barrel. However, the spread is still higher than the one-year average of $5.8 per barrel.
About 93.0% of analysts surveyed by Reuters rate Diamondback Energy (FANG) a “buy,” and the remaining 7.0% rate it a “hold.” Oppenheimer recently initiated coverage on FANG with an “outperform” rating, which is equivalent to “buy.”
In the week ending October 5, upstream energy stocks rose for the fourth consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 0.8% last week. XOP’s gains could be attributed to the rise in commodity prices. US natural gas rose 4.3% last week and ended at $3.14 per MMBtu (million British thermal units). Read Natural Gas Is at an Eight-Month High: What’s Next? for an update on natural gas.
So far in this series, we’ve looked into Diamondback Energy’s (FANG) market performance, technical indicators, and price forecast. In this article, we’ll analyze FANG’s current valuations relative to its peers and historical levels.
Is the bromance between President Donald Trump and Russian leader Vladimir Putin losing its passion? It seemed that way when Putin recently shared his thoughts about rising oil prices and oil stocks in general. The Russian strongman agreed with Trump that prices have skyrocketed.
Diamondback Energy (FANG) is trading above its short-term (50-day) and long-term (200-day) moving averages. FANG was trading 6.6% above its 50-day SMA (simple moving average) and 7.2% above its 200-day SMA on October 4.
Oil prices jumped to four-year highs in October, with Brent crude oil touching $85 a barrel, as investors focused on upcoming U.S. sanctions against oil-producing Iran and shrugged off a report showing a spike in weekly U.S. stockpiles. The focus on Iran has overwhelmed other news that might have otherwise sent oil prices lower — including a report from the International Energy Agency (IEA) that U.S. crude inventories rose by 8 million barrels in the last week of September. Oil prices are expected to rise for the foreseeable future and that should give a lift to a number of energy companies.
The WTI Cushing-WTI Midland spread, a key indicator for Permian producers to watch, fell to a three-month low of $6.0 per barrel in the week ending September 28. The previous low of $4.1 per barrel was seen on June 25. The current spread is still slightly higher than the one-year average of $5.7 per barrel.
In the week ending September 28, upstream energy stocks continued their winning streak for the third consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 1.9% last week. Overall, XOP gained 2.2% last month. Last week, XOP’s gains were due to the rise in commodity prices and the narrowing of the WTI spreads.
Of the Reuters-surveyed analysts rating Devon Energy (DVN), 66% of them are recommending a “buy” for the stock, and the remaining 34% are rating it a “hold.” Barclays recently initiated coverage of DVN with an “overweight” rating, which is equivalent to a “buy.” DVN has seen six rating updates over the past six months, including two upgrades and four new coverage initiations.
Devon Energy (DVN) continues to trade below its short-term (50-day) moving average. It was trading 6.2% below its 50-day SMA (simple moving average) and 0.8% above its 200-day SMA as of September 26. The 200-day SMA should act as a support for DVN. In comparison, DVN’s peers Anadarko Petroleum (APC) and EOG Resources (EOG) were trading 0.8% and 5.3%, respectively, above their 200-day SMAs.
Devon Energy (DVN) has been sluggish over the past month despite the gains in crude oil and natural gas prices. DVN fell 8% in September, while crude oil and natural gas gained 2.5% and 3.6%, respectively.
While the oil-producing group resisted the president’s calls to push down prices, some of his other actions might just do the trick.
EOG Resources should be one of the big winners if crude oil rallies beyond $80/barrel, given its diversified portfolio across various U.S. basins, market cap and liquidity. EOG is up more than 13% for the year, outperforming the S&P 500, up 8.
Attractive stocks have exceptional fundamentals. In the case of EOG Resources Inc (NYSE:EOG), there’s is a company with impressive financial health as well as an optimistic growth outlook. In theRead More...