|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||29.38 - 31.02|
|52 Week Range||12.36 - 31.19|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.98%|
Since late 2017, Anadarko Petroleum (APC) stock has mainly been in an uptrend. The stock has tracked crude oil prices (USO) (UCO).
On April 13–20, 2018, US crude oil futures tracking ETFs had the following performances: The United States Oil ETF (USO) rose 1.5%. The United States 12 Month Oil ETF (USL) rose 1.9%. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 3.3%.
On April 19, US crude oil June futures closed at $68.33 per barrel, just 0.2% below their high in over threes years. Prices fell as traders booked profits following a 2.1% rise in the trailing five trading days.
The price per gallon of oil is close to $4.00 in Southern California. Oil prices have spiked this year and gasoline prices have followed. This is adding significant pressure on consumers, the driving force behind our economy, and with Saudi Arabia eyeballing $100 per barrel for oil there seems to be no end in sight, but there is. UCO is up approximately 18% this year, representing about a 9% increase in domestic oil prices. In my region, Southern California, gasoline prices are also approximately 50¢ higher than they were at this time last year. Although the price per gallon is closer to $4.00 in Southern California, where it is closer to $3.00 nationally, the same price difference seems to exist. Gasoline was much cheaper a year ago, and these higher gasoline prices act like a tax on the consumer. Our analysis suggests that the average consumer is losing about 27% of his tax benefit as a result of higher gasoline prices. This dampens the economic impact of the tax cuts accordingly, by hitting the consumer hard.
The EIA estimates that US distillate inventories decreased by 3.1 MMbbls (million barrels) to 125.3 MMbbls on April 6–13, 2018. US distillate inventories dropped for the ninth time in the last ten weeks. The inventories also dropped by 22.9 MMbbls or 15.5% YoY (year-over-year).
The EIA released the weekly US crude oil output data on April 18, 2018. The EIA reported that the US crude oil output rose by 15,000 bpd (barrels per day) to a record high of 10,540,000 bpd on April 6–13, 2018. The production also rose by 1,288,000 bpd or ~14% YoY (year-over-year).
The EIA released its weekly crude oil inventory report on April 18, 2018. The EIA reported that US crude oil inventories decreased by 1 MMbbls (million barrels) to 427.5 MMbbls on April 6–13, 2018. The inventories dropped by 104.7 MMbbls or ~20% YoY (year-over-year).
Between April 10 and April 17, 2018, the correlation between natural gas and US crude oil May futures was just 4.2%. In the seven calendar days to April 17, US crude oil and natural gas prices moved in the same direction in three instances out of the last five trading sessions based on the closing prices.
The US Dollar Index fell ~0.1% to 89.5 on April 10–17, 2018. WTI crude oil prices increased ~1.5% on April 10–17, 2018. The depreciating US Dollar Index helped oil prices during this period.
May 2018 WTI crude oil futures contracts rose 0.9% from the previous settlement and were trading at $67.13 per barrel at 2:25 AM EST on April 18, 2018.
The API released its gasoline and distillate inventory data on April 17, 2018. The API reported that US gasoline inventories decreased by 2.4 MMbbls (million barrels) on April 6–13, 2018. Analysts estimate that US gasoline inventories could have declined by ~0.2 MMbbls during the same period.
Hess Corporation (HES) plans to release its fiscal 1Q18 earnings on April 25. Revenue estimates for 1Q18 are at $1.16 billion. In comparison, Hess reported revenue of $1.27 billion in 1Q17.
On April 6–13, 2018, the ETFs that follow US crude oil futures had the following performances: The United States Oil ETF (USO) rose 8.3%. The United States 12 Month Oil ETF (USL) rose 6.4%. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 17%.
On April 12, 2018, US crude oil May futures rose 0.4% and closed at $67.07 per barrel, their highest closing level in more than three years. On the same day, US crude-oil-tracking ETFs had the following performances: The United States Oil ETF (USO) rose 0.5%. The PowerShares DB Oil ETF (DBO) rose 0.1%. The ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 0.8%.
According to the EIA, US distillate inventories decreased by 1 MMbbls (million barrels) to 128.4 MMbbls on March 30–April 6, 2018. US distillate inventories dropped for the eighth time in the last ten weeks. The inventories dropped by 21.7 MMbbls or 15% YoY (year-over-year).
In this part, we’ll discuss SM Energy’s (SM) stock performance. SM Energy is ranked third among upstream companies when scaled by the highest forecast capex growth in 2018.
The EIA released the weekly US crude oil production data on April 11, 2018. The EIA reported that US crude oil production rose by 65,000 bpd (barrels per day) to a record high of 10,525,000 bpd on March 30–April 6, 2018. The production also increased by 1,290,000 bpd or ~13.9% from a year ago.
The EIA (U.S. Energy Information Administration) released its crude oil inventory report on April 11, 2018. The EIA reported that US crude oil inventories increased by 3.3 MMbbls (million barrels) to 428.6 MMbbls on March 30–April 6, 2018. However, the inventories declined by 104.7 MMbbls or 19.6% from a year ago.
Now, we’ll look at Centennial Resource Development’s (CDEV) stock performance. The company has the fourth-highest capex growth in 2018.
The US Dollar Index depreciated ~0.7% to 89.5 on April 3–10, 2018. WTI crude oil prices increased ~3.2% on April 3–10, 2018. The depreciating US Dollar Index supported oil prices during the same period.