|Bid||60.48 x 21500|
|Ask||62.44 x 800|
|Day's Range||60.69 - 61.69|
|52 Week Range||53.36 - 78.36|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.23|
|Expense Ratio (net)||0.13%|
Shares of Kinder Morgan Inc. slipped 0.2% in premarket trade Monday, after the oil and gas pipeline operator was downgraded at Stifel Nicolaus, citing concerns over valuation. Analyst Selman Akyol cut his rating to hold, after being at buy for more than three years. He kept his stock price target at $22, which is 7.2% above Friday's closing price; Stifel defines a hold rating as a total return of -5% to +10% over the next 12 months. The stock has soared 33.5% year to date, while the S&P 500 has gained 15%. Akyol said he continues to view Kinder Morgan favorably, given its more moderate leverage, high coverage and dividend growth, but he said the valuation already reflects the positive catalysts. Kinder Morgan's dividend yield at Friday's closing price was 4.87%, which was above the SPDR Energy Select Sector's payout of 3.39% and the S&P 500's implied yield of 1.99%, according to FactSet.
US crude oil active futures have fallen 0.6% in the last week, possibly dragging down or limiting XOP, XLE, OIH, and AMLP, which have returned -1.4%, 0.7%, 1.3%, and 0.7%, respectively.
Shares of oil and gas company Chesapeake Energy Corp. slumped 4.4% toward a six-month low in afternoon trading Friday, despite a bump in crude oil prices, as longer-term concerns over global oil demand helped set off a broad selloff in the energy sector. The SPDR Energy Select Sector ETF shed 0.8%, with 28 of 29 components losing ground, while the S&P 500 eased 0.3%. Among the ETF's more-active components, shares of Halliburton Co. lost 2.1%, Schlumberger Ltd. declined 3.0%, Exxon Mobil Corp. gave up 0.5%, Marathon Oil Corp. slid 2.3% and Occidental Petroleum Corp. fell 0.7%. Crude oil futures rose 0.8%, after settling up 2.2% on Thursday. Meanwhile, the International Energy Agency cut its 2019 oil demand forecast for a second-straight month, citing a slowing in the global economy.
The markets paused the rally when stocks closed lower on Tuesday after a Reuters report indicated President Trump’s intention in regards to trade negotiations. President Trump said on Tuesday that he is holding up the trade deal with China until Beijing agrees on as many as five “major points.”
Apple prices in China are up almost 30%, detracting from its consumption for the commodity, according to the latest data from grocery delivery platform Dada-JD Daojia. This latest development could put ...
Energy sector exchange traded funds led the charge on Thursday after crude oil prices spiked in response to supply fears, following an attack on two oil tankers in the Gulf of Oman, close to the Strait ...
Energy stocks rallied in unison Thursday to pace the S&P 500's sector gainers, with crude oil futures surging as U.S. Secretary of State Mike Pompeo said Iran was to blame for a number of recent incidents, including the attacks Thursday on two oil tankers in the Middle East. The SPDR Energy Select Sector ETF rallied 1.3% in afternoon trade, with all 29 equity components gaining ground. Among the more-active components, shares of Halliburton Co. hiked up 2.8%, Marathon Oil Corp. gained 1.8%, Schlumberger NV rose 3.7%, Exxon Mobil Corp. tacked on 0.8% and Kinder Morgan Inc. advanced 0.8%. Meanwhile, crude oil futures surged 2.8%, after settling Wednesday at a 5-month low. The energy ETF has lost 6.9% year to date, while the S&P 500 tacked on 2.8%.
Shares of Chesapeake Energy Corp. shot up 3.1% in active afternoon trading Thursday, to bounce off a 6-month low hit earlier in the session, as a rally in crude oil prices helped provide a boost to the oil and gas exploration and production company. Trading volume was 39.7 million shares, enough to make the stock the most actively traded on the New York Stock Exchange. The stock had hit an intraday low of $1.75 in morning trading, matching Wednesday's intraday low which was the lowest price seen Dec. 24. Helping provide support, crude oil futures rallied 2.5% to bounce off a 5-month low as apparent attacks on two oil tankers in the Middle East fueled supply concerns. Chesapeake's stock has tumbled 40% over the past three months, while the crude futures have lost 10%, the SPDR Energy Select Sector ETF has declined 6.8% and the S&P 500 has gained 2.9%.
Energy sector ETFs were among the worst hit in the risk-off selling on Wednesday as crude oil prices plunged on an unexpected rise in U.S. crude inventories and a weaker global outlook. Among the hardest ...
Legacy Reserves Inc.'s stock plunged 42% in active premarket trade Tuesday, after the oil and gas company said it expects to file for bankruptcy, in an effort to facilitate the implementation of a restructuring agreement with its lenders. Trading volume topped 3 million shares ahead of the open. The agreement will provide for a de-leveraging of its capital structure by over $900 million, including an equity capital infusion of at least $200 million; and payment in full of its other secured creditors, tax and other claimants, trade creditors and employees. The company said it will continue to operate its business without material disruption. "We explored a wide variety of alternatives to address our balance sheet and looming bank maturity during a sustained downturn in oil and gas prices," said Chief Executive Dan Westcott. "After concluding this broad process, we believe that the financial restructuring negotiated with our creditors provides the best path forward for the company." The stock has plummeted 83% year to date through Monday, while the SPDR Energy Select Sector ETF has gained 7.2% and the S&P 500 has advanced 15%.
The future course of oil prices and energy ETFs rest on the fate of U.S.-China trade tensions and extension of the output cut deal after June.
Focusing solely on China should be the administration's main trade goal going forward. Concerns over slowing global and domestic growth have also risen in recent weeks. This is usually when I get more interested in this volatile part of the economy and increase my portfolio allocation to the energy sector.
Stocks today closed higher after erasing losses, as the market continued to try to snap out of its correction.
Traders are pricing in a rate cut as soon as July. The materials sector recovered, and the S&P 500 rebounded like it did in early March.
Shares of Continental Resources Inc. rocketed 13.1% in morning trade Tuesday, putting them on track for the biggest one-day gain in 2 1/2 years, after the oil producer initiated paying a dividend and implemented a $1 billion stock repurchase program. The rally comes after the stock closed Friday at the lowest level since September 2017. The company said late Monday that it will pay a quarterly dividend of 5 cents a share, payable on Nov. 21 to stockholders of record on Nov. 7. Based on current share prices, the new annual dividend rate implies a yield of 0.51%, compared with the yield on the SPDR Energy Select Sector ETF of 3.43% and the implied yield on the S&P 500 of 2.08%. And the share repurchase program, which will begin in the second quarter and continue through 2020, could represent up to 6.7% of the shares outstanding. "This demonstrates the confidence we have in the quality and sustainability of our assets and our commitment to maximizing shareholder value," said Chief Executive Harold Hamm. "We see the current value of our equity as being unreasonably low, making the acquisition of our stock the best use of excess cash at this time." Separately, the company said it plans to keep reducing debt, to approach $5 billion of net debt by year-end 2019. The stock has lost 12.5% over the past 12 months, while the energy ETF has lost 9.5% and the S&P 500 has slipped 0.7%.
Prominent market technician Ralph Acampora says Wall Street needs new highs for him to be confidently bullish about the outlook for the stock markets, after a whipsawing period for the major indexes. But it’s not entirely clear that investors will see records in the immediate term.
Energy sector exchange traded funds are among the worst-performing sector ETFs this month as heightened trade risks concerns fueled bets of diminished oil demand from a global economic slowdown and updated data revealed rising U.S. crude inventory levels. For example, the Energy Select Sector SPDR (XLE) , the largest equity-based energy exchange traded fund, is lower by nearly 9% this month. Additionally, tensions between the U.S. and Iran are diminishing, which may reverse some of the risk premium related to the Iran oil trade.
Energy Review: How the Sector Performed Last Week(Continued from Prior Part)Energy subsector ETFsIn the week ending May 24, major energy subsector ETFs had the following performances:The Alerian MLP ETF (AMLP) fell 1.3%.The VanEck Vectors Oil
Decoding the Energy Sector's Key Events This WeekKey energy eventsThe EIA (U.S. Energy Information Administration) is scheduled to release its oil and natural gas inventory data on May 30. The data will likely be a short-term driver for oil and
Energy sector exchange traded funds were among the worst performers Thursday as heightened trade risks concerns fueled bets of diminished oil demand from a global economic slowdown and updated data revealed ...
Oil prices are surging today after an earlier attack on two tankers in the Gulf of Oman. THE ENERGY WORD Founder Dan Dicker discusses with Yahoo Finance’s Adam Shapiro, Julie Hyman, and Rick Newman.
Blackstone's Joseph Zidle says we're in a correction and there's more pain ahead. With CNBC's Brian Sullivan and the Fast Money traders, Pete Najarian, Tim Seymour, Steve Grasso and Guy Adami.