|Bid||0.00 x 800|
|Ask||0.00 x 3200|
|Day's Range||25.78 - 26.54|
|52 Week Range||25.77 - 46.54|
|Beta (3Y Monthly)||3.10|
|PE Ratio (TTM)||6.30|
|Earnings Date||Feb 18, 2019 - Feb 22, 2019|
|Forward Dividend & Yield||0.32 (1.17%)|
|1y Target Est||46.35|
Between November 30 and December 7, Gulfport Energy (GPOR) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9%—the second-largest fall among the major energy ETFs we discussed in the previous article.
The Zacks Analyst Blog Highlights: Chevron, EOG Resources, Devon Energy, Occidental Petroleum and Diamondback Energy
Billionaire hedge fund managers such as Steve Cohen and Stan Druckenmiller can generate millions or even billions of dollars every year by pinning down high-potential small-cap stocks and pouring cash into these candidates. Small-cap stocks are overlooked by most investors, brokerage houses, and financial services hubs, while the unlimited research abilities of the big players […]
Though E&P stocks are surging today, the outlook doesn’t look great in the coming years, leading the firm to downgrade a slew of names.
Devon Energy (DVN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
On December 2, Rachel Notley, Premier of Alberta, announced a reduction of 8.7% or 325,000 barrels per day of raw crude oil and bitumen in Alberta’s production. After a significant reduction in the storage, authorities might lower the production cut to 95,000 barrels per day in December 2019. On December 3, the gap between the WTI and WCS (Western Canada Select) price contracted by ~$4 per barrel.
Energy stocks have had a difficult 2018. Mostly flat performance through most of the year turned into a tailspin in October as oil prices plunged from above $75 per barrel to below $50. That in turn has pinched oil companies that rely on elevated commodity prices to drive larger profits. The headwinds are clear. Demand has slowed to a crawl, and supplies have piled up despite production cuts from several nations. Fears about U.S.-China trade relations have weighed, as have worries about sanctions on Iran. It's no wonder why energy stocks have taken it on the chin. But the skies are starting to clear as we head into 2019. OPEC and other nations are beginning to discuss additional output curbs, and with U.S. shale producers running at full capacity, there really isn't much room for them to pick up any slack. The U.S. and China have made progress on trade talks, too, including a 90-day moratorium on increasing tariffs. Investors diving into the sector still need to be choosy. A rebound in oil is far from a certainty, which means it's necessary to put a premium on quality right now. Here, we look at the 10 best energy stocks to buy for 2019 - those that can best take advantage of the current energy environment. SEE ALSO: 101 Best Dividend Stocks to Buy for 2019 and Beyond
Devon Energy (DVN) isn’t expected to report a positive FCF (free cash flow) in the fourth quarter. Devon Energy’s management expects an excess cash inflow of $5 billion by the end of 2018 assuming WTI at $65 per barrel, natural gas prices at $3 per MMBtu, and current WCS (Western Canada Select) strip pricing when it released its third-quarter results.
Devon Energy (DVN) might have an upside of 75.1% in the next 12 months based on analysts’ mean target price. With the current downturn in oil prices and the risk of the WTI-WCS (Western Canada Select) spread, which we discussed in the previous part, such a huge upside isn’t likely. With the recovery in the spread, investors might expect a short-term upside momentum in the stock.
The plan announced on Sunday will lower production of raw crude and bitumen from Alberta by 325,000 barrels a day, or 8.7 percent, from January until excess oil in storage is drawn down. The discount of Western Canadian Select crude to U.S. benchmark West Texas Intermediate oil narrowed $9.25 to $19.75 a barrel as of 10:11 a.m. New York time Monday, the tightest it’s been since July, data compiled by Bloomberg showed. Shares of oil producers operating in Alberta also surged, while there were declines for refining companies who had benefited from supplies of cheap crude.
Devon Energy Corp. (DVN) announced today that the company’s board of directors has elected Duane C. Radtke as its new vice-chairman. Radtke has served as a member of the Devon board since 2010. Devon also announced that board chairman John Richels will not stand for re-election at the annual meeting in June 2019 and plans to retire from the board at that time.
Devon Energy Corp. announced today that its board of directors has declared a quarterly cash dividend on Devon’s common stock for the first quarter of 2019. The dividend is payable on March 29, 2019, at a rate of $0.08 per share based on a record date of March 15, 2019.
America has become the top oil-producing country in the world, due in part to the production of these giant oil companies.
Futures slid below $60 in London on Friday and ended the week down about 12 percent, the worst showing since January 2016. Energy companies led declines, with shale drillers Concho Resources Inc. and Devon Energy Corp. each down more than 5 percent. In the U.S., West Texas Intermediate oil prices slid toward $50 a barrel, the baseline at which many large shale explorers set their budget this year, RBC Capital Markets analyst Scott Hanold said in a note to clients.
Since hitting a four-year high in early October, crude prices have now crashed about 30 percent. U.S. President Donald Trump added pressure on oil when he said that Saudi Arabia has been "responsive" to requests to keep prices low, calling into question OPEC’s resolve to trim output. “This had the smell and feel of a liquidation trade,” said Michael Hiley, head of OTC energy trading at LPS Futures in New York.
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe, the United Kingdom’s wealthiest man and Ineos’ CEO, about selling its assets in the United Kingdom. The deal could fetch ~$3 billion for ConocoPhillips.
On November 12–19, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among major energy ETFs. A fall of 4.8% in US crude oil prices has either dragged or limited the upside in upstream energy stocks. However, with OPEC and non-OPEC oil producers’ plan to reduce the oil output, US crude oil prices might see an upside.
To that end, the stock charts of Facebook (NASDAQ:FB), Exelon (NYSE:EXC) and Devon Energy (NYSE:DVN) look like they have the most to offer, from a risk/reward perspective. One hates to bet against the king of social networking, but Facebook shares look like they’ve slipped into what has become a self-fueling freefall. The downtrend broke to new multimonth lows on Friday.
DEEP DIVE Investors have faced elevated volatility in the market recently. First, there was the big rout of tech stocks, and now the buzz on Wall Street is that oil stocks may have fallen too far. Here are three stories from this morning offering contrasting views of the energy sector, which is understandably hypersensitive to oil prices: • Oil rout leaves energy stocks oversold, contrarians circling • Record U.
Crude oil prices have fallen back to where they were at this time last year, which is quite a tumble from their recent peaks.