173.29 0.00 (0.00%)
After hours: 4:51PM EDT
|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||172.68 - 175.64|
|52 Week Range||140.31 - 213.40|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||33.63|
|Earnings Date||Nov 6, 2018|
|Forward Dividend & Yield||0.32 (0.18%)|
|1y Target Est||246.73|
NEW YORK, Oct. 15, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
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.
Cimarex Energy (XEC), a Permian and Anadarko Basin focused exploration and production company, was the top upstream gainer in the week ending October 5. Cimarex Energy rose 6.7% last week. The gains could be attributed to gains in crude oil and natural gas prices. Natural gas formed ~43% of the total production in the second quarter, while ~29% was crude oil and ~28% was natural gas liquids. Overall, Cimarex Energy has lost 18.7% YTD, which could be attributed to sluggishness in natural gas prices.
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.
On September 28–October 5, the United States Oil ETF (USO) rose 1.1%, the United States 12-Month Oil ETF (USL) rose 1.9%, and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 2.3%. These ETFs track US crude oil futures.
On September 28–October 5, US crude oil November futures rose 1.5% and closed at $74.34 per barrel on October 5—$2.1 below its multiyear closing high of $76.41 per barrel on October 3.
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.
Investors need to pay close attention to Pioneer Natural Resources (PXD) stock based on the movements in the options market lately.
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.
Susquehanna upgraded Pioneer Natural Resources (PXD) in the week ending September 21. Susquehanna raised Pioneer Natural Resources to “positive,” which is equivalent to “buy” from “neutral,” which is equivalent to “hold.” Susquehanna increased Pioneer Natural Resources’ target price to $216 from $211. Barclays initiated coverage on Pioneer Natural Resources with an “overweight” rating, which is equivalent to “buy.” Overall, Pioneer Natural Resources has seen six rating updates in the past three months—three new coverage initiations and two rating upgrades.
The WTI Cushing-WTI Midland spread is a key indicator to watch for Permian producers. The spread continued to fall in the week ending September 21. The spread fell to $11.5 per barrel by the end of last week—compared to the highs of $17.8 per barrel in the week ending August 31. However, the current spread is still high compared to the previous month’s low of $12.0 per barrel and the one-year average of $5.5 per barrel.
This could indicate that investors who seek to profit from falling equity prices are not currently targeting PXD. PXD credit default swap spreads are within the middle of their range for the last three years. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way.
I am writing today to help inform people who are new to the stock market and want to start learning about core concepts of fundamental analysis on practical examples fromRead More...
After enduring a mostly choppy trend in the past few months, investors may consider adding Apache Corporation (NYSE:APA) stock to their portfolio for the rest of the year. Specifically, there are three bullish plays in APA stock that I want to share with you, as each play could lead to impressive profits. On Sept. 13, Apache Corporation, one of the largest U.S. exploration and production (E&P) companies out of Irving, TX, declared its regular cash dividend at a yield of 2%.
Diamondback Energy (FANG) teamed up with private equity firm The Carlyle Group for the development of its assets in the region, while HollyFrontier (HFC) announced a $1 billion share buyback plan.
The weakness in crude oil prices by the end of last week and a slight decline in Permian drilling activity could be the major reasons behind the narrowing of the WTI Cushing-WTI Midland spread. The announcement by Energy Transfer Partners (ETP) to proceed with its plans to construct the PGC (Permian Gulf Coast) pipeline could be another major reason behind the recent fall in the WTI spreads. The PGC pipeline and a few other major pipeline projects are expected to reduce the pipeline constraint in the region in the next two years.
In this week's "Commodity in Chief," Bloomberg's Alix Steel talks with Richard Dealy, the CFO of Pioneer Natural Resources. They discuss how the company is dealing with rising gas-to-oil ratios. ...
The energy stocks that fair best after oil jumps 11% or more in two months. It has happened eight times since 2010. Newfield exploration tops the list followed by Cabot and Pioneer.
Sep.13 -- In this week's "Commodity in Chief," Bloomberg's Alix Steel talks with Richard Dealy, the CFO of Pioneer Natural Resources. They discuss how the company is dealing with rising gas-to-oil ratios.