|Bid||102.36 x 900|
|Ask||104.59 x 900|
|Day's Range||101.37 - 103.97|
|52 Week Range||96.54 - 133.53|
|Beta (3Y Monthly)||1.38|
|PE Ratio (TTM)||11.98|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||0.88 (0.84%)|
|1y Target Est||141.39|
In the week ending on November 9, US crude oil inventories were 5% above their five-year average, two percentage points 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 further into 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.
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe, the United Kingdom’s wealthiest man and Ineos’ CEO, about selling its assets in the United Kingdom. The deal could fetch ~$3 billion for ConocoPhillips.
On November 12–19, upstream stock Concho Resources (CXO) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among the major energy ETFs that we discussed in the previous part.
On November 12–19, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among major energy ETFs. A fall of 4.8% in US crude oil prices has either dragged or limited the upside in upstream energy stocks. However, with OPEC and non-OPEC oil producers’ plan to reduce the oil output, US crude oil prices might see an upside.
Comstock Resources (CRK) production of oil and natural gas averaged 33.3 billion cubic feet equivalent, up 55.7% from last year.
Helmerich & Payne (HP) delivers solid fourth-quarter fiscal 2018 results on the back of stellar show from its U.S. Land unit, backed by higher revenues and rig margins.
Crude oil was smashed lower for the 12th consecutive session on Tuesday. West Texas Intermediate lost 7.1%, returning to levels not seen since November. One of the largest energy stocks, Halliburton (NYSE:HAL) fell 5.5% to return to early 2016 levels.
ConocoPhillips (COP) has strengthened its FCF (free cash flow) in the past one year. On a quarterly basis, COP’s FCF grew by 34.8% in Q3 2018. The rise in oil prices contributed to the rise in COP’s free cash flow. In part one, we discussed the impact of oil prices on COP’s earnings.
As of November 12, Brent crude oil active futures had fallen 18.3% from their almost four-year closing high of $86.29 per barrel on October 3. However, so far in Q4 2018, Brent crude oil active futures have averaged ~4% higher on a quarter-over-quarter basis. If oil prices trade within a downside limit of ~4% from current levels, with almost half of the period left in Q4 2018, ConocoPhillips (COP) might achieve analysts’ consensus estimate, which is two cents lower than adjusted EPS last quarter. COP has an oil-weighted portfolio of 58%. ...
DEEP DIVE Some investors with long-term commitments aren’t interested in a company’s performance for only one quarter. Others react, or overreact, to breathless headlines after companies surprise analysts.
Oil prices reversed lower Monday after President Trump warned Saudi Arabia not to cut oil output, as OPEC's de facto leader grapples with oversupply concerns.
On November 2–9, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 0.6%—the least among major energy ETFs. US crude oil prices just above $60 and a fall of 4.7% last week due to supply concerns might have either dragged or limited the upside in upstream energy stocks. However, Saudi Arabia’s announcement on November 11 about reducing its exports by half a million barrels per day in December might bring a small pause to oil’s fall.
EOG Resources Inc.’s $1.1 billion in third-quarter adjusted net income vaulted the biggest American shale driller into the same league as Italian oil giant Eni SpA, ConocoPhillips and Occidental Petroleum Corp. and ahead of Spain’s Repsol SA. But there’s one major difference: EOG is growing production at more than 20 percent a year. Conoco and Occidental have also made shale one of their key investment targets.
After hitting decade lows back in 2016, a rising economy, increased demand, and a drop-in supply have sent average crude oil prices up more than 69% since its lows. For many energy stocks, this has been a godsend. A variety of independent energy producers from ConocoPhillips (NYSE:COP) to EOG Resources (NYSE:EOG) have seen profits and cash flows surge.
HOUSTON , Nov. 7, 2018 /PRNewswire/ -- EOG Resources, Inc. (EOG) is scheduled to present at the Bank of America Merrill Lynch Global Energy Conference at 3:00 p.m. Central time ( 4:00 p.m. Eastern time ...
NEW YORK, Nov. 05, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.