|Bid||62.75 x 800|
|Ask||62.76 x 1400|
|Day's Range||61.72 - 63.15|
|52 Week Range||37.25 - 65.89|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (1.63%)|
|1y Target Est||N/A|
Hess Corp. shares rose 1.6% Wednesday, after the company announced an eighth oil discovery offshore Guyana. The company said its Longtail-1 exploration well found about 256 feet of high-quality, oil-bearing sandstone reservoir. Cowen analysts said the news was positive for the oil company.
Hess Corp. shares (hes) rose 1.6% Wednesday, after the company announced an eighth oil discovery offshore Guyana. The company said its Longtail-1 exploration well found about 256 feet of high-quality, oil-bearing sandstone reservoir. Cowen analysts said the news was positive for the oil company.
On June 15, Oasis Petroleum’s (OAS) short interest as a percentage of float, or its short interest ratio, was ~12.9%. In June last year, Oasis Petroleum’s short interest ratio was 15.8%.
The EIA (U.S. Energy Information Administration) said in its June 2018 STEO (Short-Term Energy Outlook) forecast that WTI crude oil would average $64 per barrel in 2018 and $62 per barrel in 2019. Brent spot prices are expected to average ~$71 per barrel in 2018 and $68 per barrel in 2019.
Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico. There have been nearly 21,000 requests overall for exclusions submitted to the U.S. Commerce Department since the Trump administration imposed levies this year. Initial decisions are expected this month, offering the first clues as to how the administration will balance an agenda favouring oil and gas exports while also supporting the U.S. steel and aluminium industries.
According to the EIA (U.S. Energy Information Administration), in 2017, average annual US crude oil production was 9.3 million barrels per day, an increase of 464,000 bpd (barrels per day) compared to 2016. In contrast, production fell 551,000 bpd in 2016 compared to 2015. The EIA has forecast that US crude oil production will average 10.7 million bpd in 2018, a rise of 15% annually. In 2019, crude oil production is expected to average 11.3 million bpd, a rise of ~6% annually.
Harold Hamm, founder and chief executive officer of Continental Resources Inc, has canceled a scheduled appearance at an OPEC event this week in Vienna, a company spokeswoman said. Hamm is the third of five U.S. shale executives to withdraw from a scheduled speaking slot at the OPEC meeting in Vienna.
Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict. "We're getting to a point where a continued rise in the oil price is going to cause major problems for the global economy," said Amy Meyers Jaffe, director of the programme on energy security and climate change at the Council on Foreign Relations. OPEC and U.S. representatives have met at least twice this year, with a third high-profile meeting set for Vienna next week.
Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict. "We're getting to a point where a continued rise in the oil price is going to cause major problems for the global economy," said Amy Meyers Jaffe, director of the program on energy security and climate change at the Council on Foreign Relations.
Current implied volatility in Whiting Petroleum (WLL) is ~49.9%, 0.20% higher than its 15-day average of 49.8%. In contrast, the broader energy sector represented by the Energy Select Sector SPDR ETF (XLE) has an implied volatility of ~17.4%, -4.8% lower than its 15-day average of ~18.3%. Based on Whiting Petroleum’s implied volatility of ~49.9% and assuming a normal distribution of stock prices with a standard deviation of one (or a probability of 68.0%), Whiting Petroleum stock will likely close between $50.0 and ~$57.24 by the end of the week leading up to June 18.
If you are interested in cashing in on Hess Corporation’s (NYSE:HES) upcoming dividend of $0.25 per share, you only have 3 days left to buy the shares before its ex-dividendRead More...
In this daily bar chart of HES, below, we can see a rally with periodic corrections. The volume pattern is hard to decipher but the daily On-Balance-Volume (OBV) line has been rising the past twelve months telling us that buyers of HES have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and could soon turn up for a fresh outright go long signal.
Current implied volatility in Whiting Petroleum (WLL) is ~49.2%. In comparison, WLL’s peers Concho Resources (CXO) and Hess Corporation (HES) have implied volatilities of ~29.4% and ~33.5%, respectively. The Energy Select Sector SPDR ETF (XLE), which represents the broader energy sector, has an implied volatility of ~19.0%.
The Zacks Analyst Blog Highlights: Phillips, Enbridge, Marathon Petroleum, Continental Resources and Hess
According to the North Dakota Department of Mineral Resources, the state produced 1,162,071 barrels of oil per day and 2,116,294 thousand cubic feet per day of associated gas in March.
Saudi Arabia is OPEC’s largest oil producer. According to the EIA, Saudi Arabia’s crude oil production increased by 20,000 bpd (barrels per day) to 10,080,000 bpd in April—compared to the previous month. The production also increased by 100,000 bpd or 1% from a year ago.
Canadian oil sands are home to some of the world's largest crude deposits but reduced pipeline access to the American market has created a supply glut leading to significantly lower prices.
Let’s talk about the popular Hess Corporation (NYSE:HES). The company’s shares saw a significant share price rise of over 20% in the past couple of months on the NYSE. AsRead More...
High crude oil prices and the improving natural gas pipeline capacity in the US have been driving the rise in natural gas supplies. WTI oil prices have risen ~68.1% since June 21, 2017. The decline in OECD oil inventories, geopolitical tensions, and ongoing production cuts are driving oil prices higher.
On May 16, US crude oil June futures rose 0.3% and closed at $71.49 per barrel, a more-than-three-year high. Market concerns over the United States exiting the 2015 Iran nuclear deal and unraveling Venezuelan production are driving oil prices higher.
U.S. crude oil and petroleum product inventories fell last week even as production hit record highs, the EIA said on Wednesday in a majorly bullish report.