|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||142.11 - 149.23|
|52 Week Range||106.73 - 163.11|
|PE Ratio (TTM)||18.89|
|Earnings Date||Aug 1, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||181.44|
Moody's Investors Service (Moody's) has withdrawn all of its ratings for RSP Permian, Inc. (RSP Permian). The withdrawals follow RSP Permian's acquisition by Concho Resources Inc. (Concho, Baa3 stable) in July 2018 and the repayment of all of RSP Permian's rated debt.
Between July 11 and July 18, our list of oil-weighted stocks fell 2.4%, while US crude oil September futures fell 1.6%. Below are the oil-weighted stocks that have seen the largest increases in the last five trading sessions: RSP Permian (RSPP): rose 3.9% Concho Resources (CXO): rose 3.8% WPX Energy (WPX): rose 1.4%
Concho Resources Inc completes its acquisition of RSP Permian Inc, creating the largest unconventional shale producer in the Permian Basin.
Oasis Petroleum (OAS) stock has a current implied volatility of ~50.2%, which is ~1.95% higher than its 15-day average of 49.26%. In comparison, the Energy Select Sector SPDR ETF (XLE) has an implied volatility of ~17.8%, which is 5.86% lower than the 15-day average of ~18.91%. Assuming that prices are normally distributed with a standard deviation of one (or a probability of 68.2%), based on Oasis Petroleum’s implied volatility of ~50.22%, we can forecast Oasis Petroleum’s stock to close between $10.75 and $13.09 in the next two weeks.
Concho Resources Inc. (CXO) (“Concho” or the “Company”) today announced that it has completed its acquisition of RSP Permian, Inc. (RSPP) (“RSP”). The transaction creates the largest unconventional shale producer in the Permian Basin. Tim Leach, Chairman and Chief Executive Officer of Concho, commented, “We are excited to complete this transaction and welcome the RSP team to Concho.
Whiting Petroleum (WLL) is expected to release its second-quarter earnings on July 31 after the market closes. Wall Street analysts’ revenue estimate for the second quarter is $505.37 million—compared to $311.51 million in the second quarter of 2017. Higher revenue estimates on a year-over-year basis reflect higher production forecasts and higher expected crude oil price realizations due to a better crude oil price environment.
About 76% of the analysts covering Anadarko Petroleum (APC) rated the stock as a “buy,” 21% rated it as a “hold,” and 3% rated it as “underperform.”
WTI (West Texas Intermediate) is the US benchmark for crude oil trading on the NYMEX (New York Mercantile Exchange). WTI is priced at Cushing, Oklahoma, which is the point of delivery for crude oil futures contracts trading on the NYMEX. WTI Midland is the price of crude oil at the Permian Basin.
Hedge funds’ net bullish positions in US crude oil futures and options decreased 0.1% to 433,938 on July 3–10. However, the positions are near the highest level since April 17. The positions increased by 255,284 contracts or 143% YoY (year-over-year). Hedge funds’ net bullish positions in US crude oil futures and options suggests that they remain bullish towards oil prices.
WTI crude oil prices hit $74.15 per barrel on June 29—the highest level since November 2014. However, Brent and WTI oil prices fell 5.2% and 4.2%, respectively, during the last two weeks. WTI oil prices fell 3.8% last week. However, the Energy Select Sector SPDR ETF (XLE) rose 0.8% last week. The companies in XLE develop and produce crude oil and natural gas and other energy-related services.
This Tuesday, WallStEquities.com has initiated reports coverage on the following Oil & Gas Drilling & Exploration equities: Concho Resources Inc. (NYSE: CXO), Diamond Offshore Drilling Inc. (NYSE: DO), Enerplus Corp. (NYSE: ERF), and Ensco PLC (NYSE: ESV). All you have to do is sign up today for this free limited time offer by clicking the link below.
Approximately 52% of analysts have rated Hess Corporation (HES) as a “hold,” and ~43% have rated it as a “buy.” The remaining ~5% have rated the stock as an “underperform.”
Around 75.75% of the analysts rated Anadarko Petroleum (APC) as a “buy,” 21.21% rated it as a “hold,” and 3% rated it as “underperform.”
To conclude our series, we’ll discuss Wall Street analysts’ recommendations for the leading decliners in the first half of 2018 from the Energy Select Sector SPDR ETF (XLE).
In the first half of 2018, Concho Resources (CXO) was the fourth-lowest performer among the energy stocks in the Energy Select Sector SPDR ETF (XLE). Concho Resources’ operations are focused on acquiring, developing, and exploring oil and natural gas properties in the Permian Basin of Southeast New Mexico and West Texas.
From June 29 to July 6, US crude oil August futures fell 0.5%. On July 6, US crude oil August futures settled at $73.80 per barrel—just 0.5% below the highest closing level of $74.15 per barrel since November 24, 2014. In the last six trading sessions, US crude oil futures haven’t decisively closed below the $73.00 mark despite several bearish factors.
In this part, we’ll see how hedge funds are positioning themselves in the leading first-half decliners from the Energy Select Sector SPDR ETF (XLE).
Around 75.75% of the analysts rated Anadarko Petroleum (APC) as a “buy,” 21.21% rated it as a “hold,” and 3% rated it as a “sell.”
WTI is the US benchmark for crude oil trading on NYMEX. WTI is priced at Cushing, Oklahoma. WTI is the point of delivery for futures contracts trading on NYMEX. WTI Midland is the price of oil at the Permian Basin. The WTI Cushing-WTI Midland spread reflects the pricing difference between a major production area and a major trading hub. The spread was at $12.5 per barrel on July 3—compared to $11.25 per barrel on June 27. The spread rose 11.11% on June 27–July 3.
Approximately 36.4% of Wall Street analysts rated Whiting Petroleum (WLL) a “buy” while 45.5% analysts rated it a “hold.” Around 12% have rated WLL “underperform.”
Between June 27 and July 3, our list of oil-weighted stocks rose 1.4%, while US crude oil August futures rose 5.1%.
On July 3, US crude oil August futures rose 0.3% and closed at $74.14 per barrel—the second-highest closing level for active US crude oil futures since November 24, 2014.
On July 2, US crude oil August futures closed ~$10 above the August 2019 futures contract. On June 25, the futures spread was at a premium of $5.4. On June 25–July 2, US crude oil August futures rose 8.6%.