|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||43.57 - 44.08|
|52 Week Range||30.98 - 45.45|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
In the week ending September 24, upstream energy stocks continued their winning streak for the second consecutive week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which includes 56 upstream companies, rose 2.8% last week. Overall, XOP has gained 6.4% in the past two weeks and 0.4% since the beginning of September. Last week’s gains were led by a sharp rally in gas-weighted stocks amid a rise in natural gas prices. US natural gas rose 7.6% last week and ended at $2.98 per MMBtu (million British thermal units). ...
Marathon Oil’s (MRO) 30-day implied volatility was 33.5% as of September 18—slightly below the 15-day average of 34.6%. Apache (APA) and Continental Resources (CLR) have implied volatilities of 30.7% and 31.6%, respectively. In comparison, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has an implied volatility of 25.6%.
Marathon Oil (MRO) has seen a strong rally in the past month. The company has risen ~15% from its lows of $19 in August. The recent rally in Marathon Oil could be due to the gains in crude oil prices and a slight improvement in the price differentials. Global supply concerns including Iran sanctions and a decline in US inventories continue to drive the positive momentum in crude oil prices. US crude oil went past $71 per barrel on September 19. Overall, WTI has risen ~10.0% from its August lows.
On September 13–20, major energy ETFs had the following correlations with US crude oil November futures: the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 95.2% the VanEck Vectors Oil Services ETF (OIH): 71.6% the Energy Select Sector SPDR ETF (XLE): 69.3% the Alerian MLP ETF (AMLP): -44.4%
On September 19, natural gas October futures fell 0.9% and settled at $2.908 per MMBtu (million British thermal units). Concerns surrounding natural gas’s demand might have dragged active natural gas futures from the highest closing level since August 23.
In the week ending September 7, the inventories spread was -18.4%. The inventories spread is the difference between natural gas inventories and their five-year average.
The natural gas rig count stood at 186 last week—unchanged from the previous week. However, the natural gas rig count has fallen ~88.5% from its record level of 1,606 in 2008.
Previously, we looked at ConocoPhillips’s (COP), EOG Resources’ (EOG), Occidental Petroleum’s (OXY), and Anadarko Petroleum’s (APC) recent market performance. In this article, we’ll look at the four stocks’ volatility.
Surging output from U.S. shale formations has boosted total crude oil production to a record high of nearly 10.7 million barrels a day (MM bbl/d), according to the U.S Energy Information Administration (EIA), making the U.S. the largest oil producer in the world. In February U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades at a moment when that country was negotiating production quotas with Russia. In June and August the U.S. surpassed Russia in crude oil production for the first time since February 1999.
So far in this series, we’ve compared ConocoPhillips’s (COP), EOG Resources’ (EOG), Occidental Petroleum’s (OXY), and Anadarko Petroleum’s (APC) proven reserves, recent operating performance, and capital expenditure guidance. In this article, we’ll look at their recent market performance.
Upstream energy stocks saw strong buying in the week ending September 14 amid sharp gains in crude oil prices. US crude oil went above $70 per barrel due to the bullish inventory report from the U.S. Energy Information Administration and Iran sanctions. The gains were partially offset by a decline due to concerns about how trade wars will impact global demand. Overall, US crude oil rose 1.8% and ended the week at $69 per barrel. On the other hand, US natural gas fell 0.3% and ended the week at $2.77 per MMBtu (million British thermal units).
This week, specific events could affect oil and natural gas prices. The EIA’s (U.S. Energy Information Administration) Drilling Productivity Report, set to be released early this week, could be an important roadmap for oil and natural gas prices. Oil prices may also be sensitive to the OPEC and non-OPEC meeting scheduled for this weekend. The EIA’s latest oil and natural gas inventory data, scheduled to be released on September 19 and 20, respectively, could be an important short-term driver for oil and natural gas prices.
On September 6–13, the major energy ETFs had the following correlations with US crude oil October futures: the VanEck Vectors Oil Services ETF (OIH): 85.4% the Alerian MLP ETF (AMLP): 82.5% the Energy Select Sector SPDR ETF (XLE): 82.3% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 79.6%
Live from the floor of the New York Stock Exchange, Jonathan Corpina of Meridian Equity Partners joins Yahoo Finance's Dion Rabouin to discuss the latest market moves.