|Bid||75.780 x 300|
|Ask||75.790 x 500|
|Day's Range||75.575 - 76.525|
|52 Week Range||57.200 - 78.090|
|PE Ratio (TTM)||44.60|
|Earnings Date||May 8, 2018|
|Forward Dividend & Yield||3.08 (4.18%)|
|1y Target Est||77.45|
Oil rose Thursday as Saudi Arabia reportedly eyes a price of as much as $100 a barrel ahead of a key OPEC-Russia meeting Friday.
On April 11–18, 2018, our list of oil-weighted stocks rose 8.8%. US crude oil June futures rose 2.6% during this period. In the seven calendar days to April 18, the oil-weighted stocks with the largest gains were: Oasis Petroleum (OAS) rose 17.6%. WPX Energy (WPX) rose 13.6%. California Resources (CRC) rose 13.1%.
In 1Q18, Wall Street analysts expect Encana (ECA) to report revenue of ~$1.22 billion, ~6% lower than its 1Q17 revenue of ~$1.3 billion and ~1% higher than its 4Q17 revenue of ~$1.21 billion. Despite Encana’s 1Q18 production and crude oil prices being expected to rise, Encana’s 1Q18 revenue estimate is lower, which could be attributed to lower expected market optimization revenue. Between 2017 and 2018, Encana’s production is expected to rise strongly, which we’ll study in the next part of this series.
In 4Q17, 40 hedge funds were “buyers” of Range Resources (RRC) stock, while 33 hedge funds were “sellers.” In 4Q17, the total buying hedge funds outnumbered the total selling hedge funds by seven. As of December 31, 2017, 55 hedge funds that filed form 13F held Range Resources in their portfolio. Four hedge funds have Range Resources in their top ten holdings.
For 1Q18, Wall Street analysts expect Range Resources (RRC) to report revenues of ~$695 million. On a YoY (year-over-year) basis, Range Resources’ 1Q18 revenue expectations are ~14% higher compared to its 1Q17 revenues of ~$607 million. Sequentially, Range Resources’ 1Q18 revenue expectations are ~16% higher compared to its 4Q17 revenues of ~$600 million.
Occidental Petroleum Corporation (NYSE: OXY ) have hit an inflection point, with little downside ahead, according to PiperJaffray's energy division Simmons & Co. The Analyst Analyst Guy Baber upgraded ...
The shale industry is much more competitive, if still fragmented, Goldman Sachs says as it backs a bullish stance on U.S. energy stocks.
On April 11, 2018, US crude oil May futures rose 2.0% and closed at $66.82 per barrel—the highest closing level for US crude oil active futures since December 2, 2014. On the same day, Brent crude oil June futures closed at $72.06 per barrel—the highest closing level for Brent crude oil active futures since December 1, 2014.
Stocks that moved substantially or traded heavily Wednesday: Analogic Inc., down $12.70 to $83.35 The medical and security imaging equipment maker agreed to be bought for $84 a share, less than investors ...
In the week ending March 30, 2018, US crude oil inventories fell by 4.6 MMbbls (million barrels) to ~425.3 MMbbls. The market expected a rise by 1.4 MMbbls in the EIA’s data on April 4, 2018. On the same day, US crude oil May futures fell 0.2%. Rising US crude oil production, which we discussed in the previous part, could be behind the fall.
Shell's (RDS.A) divestment of its entire stake in the Mukhaizna field in Oman is going to help boost the company's upstream portfolio and buoy its financials.
In 4Q17, 51 hedge funds bought ConocoPhillips’s (COP) stock and 61 hedge funds sold the stock. The total selling hedge funds outnumbered the total buying hedge funds by ten. As of December 31, 2017, 109 hedge funds that filed form 13Fs held COP in their portfolios. Four counted COP among their top ten holdings.
Occidental Petroleum’s (OXY) operating cash flow in 2017 was ~$5 billion compared to $2.5 billion in 2016. Occidental’s 2017 net income was $1.3 billion compared to its net loss of ~$574 million in 2016. Occidental’s 2017 revenue was higher than its 2016 level due to higher realized energy prices, which were partially offset by lower production volumes in 2017 compared to 2016.
HOUSTON, March 29, 2018-- Occidental Petroleum Corporation will announce its first quarter 2018 financial results after close of market on Tuesday, May 8, 2018, and will hold a conference call to discuss ...
According to the US Energy Information Administration’s (EIA) “International Energy Outlook 2018,” increasing crude oil prices will lead to higher investments, driving production growth in higher-cost resources such as tight oil, oil sands, and offshore deepwater. The EIA projects that the combined production from tight oil, oil sands, and offshore deepwater will reach 21 million barrels per day (b/d) by 2040 and account for almost a quarter of the world’s total crude oil production. The EIA expects a large portion of global upstream capital investment to be concentrated in tight oil resources in the United States and that investment in tight oil plays outside the United States will be lower than investments in plays in the United States through 2025.
With energy stocks and MLPs trading at the lowest valuations in 30 years, higher oil prices and improving earnings and cash flows could lead to a dramatic rerating for the group.
Yahoo Finance's Jared Blikre and Alexis Christoforous break down the latest market action.