|Bid||108.10 x 900|
|Ask||140.00 x 1200|
|Day's Range||133.54 - 137.97|
|52 Week Range||123.63 - 163.11|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||20.58|
|Earnings Date||Feb 18, 2019 - Feb 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||186.65|
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 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.
Of late, QEP Resources (QEP) has been entering into various strategic deals to streamline its portfolio and sharpen focus on the more profitable Permian Basin.
ConocoPhillips (COP) has shifted its production mix more to an oil-weighted portfolio in the past few quarters. COP’s total natural gas production has fallen 6.4% from Q3 2017. In fact, compared to Q2 2017, its natural gas production has recorded a fall of 22%. In this period, COP’s natural gas volume in the lower 48 states has almost been cut in half. However, crude oil production from this region has risen ~34% since the second quarter of 2017.
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.
On November 2–9, upstream stock EP Energy (EPE) fell the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 0.6%—the lowest gainer among the major energy ETFs that we discussed in Part 1. On November 7, EP Energy announced its third-quarter earnings results. The company reported an adjusted loss of $0.04 per share—compared to analysts’ consensus estimates for an income of $0.01 per share.
On November 2–9, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 4.6% and 3.8%, respectively. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 9%. These ETFs track US crude oil futures.
On November 2–9, US crude oil December futures fell 4.7% and closed at $60.19 per barrel on November 9—the lowest closing level for active US crude oil futures since March 3. US crude oil December futures fell due to rising oversupply concerns. Last week, US crude oil prices recorded the fifth consecutive weekly decline—the second-longest streak of weekly declines in 2018.
On October 24–31, our list of oil-weighted stocks fell 1.5%—compared to the 2.3% fall in US crude oil December futures. On average, our list of oil-weighted stocks outperformed US crude oil prices. In the previous part, we saw that these oil-weighted stocks had higher and positive correlations with the S&P 500 Index (SPY) than oil prices. In the trailing week, the S&P 500 Index rose 2.1%.
Concho Resources (CXO) decides to initiate a regular quarterly dividend payment of 12.5 cents, commencing from the first quarter of 2019.
Investing.com - Concho Resources (NYSE:CXO) reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.
Concho Resources (CXO) delivered earnings and revenue surprises of 25.66% and 9.35%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
The Midland, Texas-based company said it had a loss of $1.05 per share. Earnings, adjusted for non-recurring costs, came to $1.42 per share. The results topped Wall Street expectations. The average estimate ...
Concho Resources (CXO) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
On October 17–24, our list of oil-weighted stocks fell 13.8%—compared to the 4.1% fall in US crude oil December futures. On average, our list of oil-weighted stocks underperformed US crude oil prices.
Felix Energy LLC, a closely held Denver-based oil producer with operations in the largest U.S. shale field, is exploring a sale that could value the company at more than $3.5 billion, two people familiar with the matter said on Wednesday. The U.S. oil producer has hired investment bank Jefferies to solicit buyers, the sources said. Felix Energy did not respond to requests for comment.
The energy sector has been whipsawed by headlines lately, and many investors can’t decide whether to buy or sell oil stocks. When oil (CLX8) raced up to a new 52-week high of more than $76 to start October, many thought things looked great. Then as U.S. oil supplies rose and as OPEC production rose, things didn’t look so hot.
NEW YORK, Oct. 19, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Pipeline takeaway capacity constraints in the Permian Basin seems to be the primary reason for apprehension about Halliburton's (HAL) Q3 results.
Attractive stocks have exceptional fundamentals. In the case of Concho Resources Inc (NYSE:CXO), there’s is a company with impressive financial health as well as an optimistic growth outlook. Below is Read More...