Petroleum still powers the world’s economies, and overall demand continues to climb. Over just the last six years, global oil demand per day has jumped by 10.14% according to the International Energy Agency (IEA).
In just the past year, that demand per day has risen by 2.54%. This might seem modest, but note that it has come as many of the globe’s higher-growth economies, including China, have experienced subdued economic expansion.
The bad news is that global oil production continues to fall behind demand. The result is that the glut of oil that briefly sent crude oil prices lower in 2014 has been cleared out. This glut manifested thanks to members of the Organization of Petroleum Exporting Countries (OPEC) who sought to limit the production gains of the US shale and fracking operations by driving down crude prices to make field investment unprofitable.
But what it did instead was to drive US producers to turn to better field management and better production technology to drive production to more profitable levels, even with crude prices under $40.00 a barrel.
Top 10 Energy Stocks To Watch Right Now: Statoil ASA(STO)
Advisors’ Opinion:
- [By Matthew DiLallo]
Another highlight in April was that Shell gave the green light to the Vito project, which is a joint venture with Statoil (NYSE:STO) in the Gulf of Mexico. Shell and Statoil were able to cut that project’s cost estimate by 70% from the original design so that it’s now profitable at $35 a barrel. The partners expect the project to produce 100,000 BOE/D of low-cost oil and gas when it comes online in 2021.
- [By Tyler Crowe]
Anyone that has watched oil prices tick up recently has probably expected oil producers to report some impressive earnings results this past quarter, and Statoil (NYSE:STO) did just that with a 21% boost to the bottom line. At the same time, management is using all of its additional cash to do some wheeling and dealing that should help boost its growth possibilities in the nearer term.
- [By Shane Hupp]
Statoil (NYSE: STO) and Delek US (NYSE:DK) are both oils/energy companies, but which is the superior stock? We will compare the two businesses based on the strength of their institutional ownership, earnings, valuation, analyst recommendations, dividends, profitability and risk.
Top 10 Energy Stocks To Watch Right Now: CSI Compressco LP(CCLP)
Advisors’ Opinion:
- [By Stephan Byrd]
Get a free copy of the Zacks research report on CSI Compressco (CCLP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
CSI Compressco (NASDAQ: CCLP) and Basic Energy Services (NYSE:BAS) are both small-cap oils/energy companies, but which is the superior investment? We will contrast the two businesses based on the strength of their earnings, institutional ownership, risk, analyst recommendations, profitability, valuation and dividends.
- [By Shane Hupp]
ValuEngine lowered shares of CSI Compressco (NASDAQ:CCLP) from a buy rating to a hold rating in a research note released on Tuesday.
CCLP has been the topic of several other research reports. BidaskClub cut CSI Compressco from a buy rating to a hold rating in a research report on Monday, May 14th. Raymond James set a $8.00 price target on CSI Compressco and gave the company a buy rating in a research report on Tuesday, May 8th. Zacks Investment Research cut CSI Compressco from a hold rating to a sell rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus restated a hold rating and issued a $7.00 price target (down previously from $8.00) on shares of CSI Compressco in a research report on Tuesday, May 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. CSI Compressco currently has an average rating of Hold and an average target price of $7.00.
- [By Joseph Griffin]
These are some of the media headlines that may have effected Accern Sentiment’s rankings:
Get CSI Compressco alerts:
Stock to Follow:: CSI Compressco LP (CCLP),Superior Drilling Products, Inc. (SDPI) (bitcoinpriceupdate.review) Mammoth Energy Services (TUSK) & CSI Compressco (CCLP) Financial Analysis (americanbankingnews.com) Investor Watch: Quant Signal Review on CSI Compressco LP (NasdaqGS:CCLP) as ROE Touches -0.491870 (dunlappost.com) Quant Rating Update on CSI Compressco LP (NasdaqGS:CCLP) (dunlappost.com) Traders shouldn’t Staggering on these:: VAALCO Energy, Inc. (NYSE:EGY), CSI Compressco LP (NASDAQ:CCLP … (journalfinance.net)
CCLP has been the topic of a number of research analyst reports. Raymond James set a $8.00 price target on CSI Compressco and gave the stock a “buy” rating in a report on Tuesday, May 8th. BidaskClub upgraded CSI Compressco from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target (down from $8.00) on shares of CSI Compressco in a report on Tuesday, May 8th. Finally, ValuEngine upgraded CSI Compressco from a “sell” rating to a “hold” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.50.
- [By Max Byerly]
Get a free copy of the Zacks research report on CSI Compressco (CCLP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
Cypress Energy Partners (NYSE: CELP) and Compressco Partners (NASDAQ:CCLP) are both small-cap oils/energy companies, but which is the better stock? We will compare the two companies based on the strength of their risk, institutional ownership, profitability, earnings, valuation, analyst recommendations and dividends.
Top 10 Energy Stocks To Watch Right Now: Imperial Oil Limited(IMO)
Advisors’ Opinion:
- [By Logan Wallace]
Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 11,491,321 shares, an increase of 1.1% from the May 31st total of 11,363,187 shares. Based on an average trading volume of 400,912 shares, the days-to-cover ratio is presently 28.7 days.
- [By Shane Hupp]
Swiss National Bank cut its position in shares of Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,300 shares of the energy company’s stock after selling 76,100 shares during the period. Swiss National Bank owned approximately 0.13% of Imperial Oil worth $28,203,000 at the end of the most recent quarter.
- [By Joseph Griffin]
Citadel Advisors LLC purchased a new stake in shares of Imperial Oil Ltd (NYSEAMERICAN:IMO) (TSE:IMO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,728 shares of the energy company’s stock, valued at approximately $1,487,000.
Top 10 Energy Stocks To Watch Right Now: EQT Corporation(EQT)
Advisors’ Opinion:
- [By Stephan Byrd]
EquiTrader (CURRENCY:EQT) traded up 6.5% against the U.S. dollar during the one day period ending at 23:00 PM ET on June 3rd. One EquiTrader coin can now be purchased for $0.13 or 0.00001662 BTC on popular cryptocurrency exchanges including CryptoBridge, Cryptopia and CoinExchange. EquiTrader has a market cap of $1.37 million and approximately $1,213.00 worth of EquiTrader was traded on exchanges in the last 24 hours. During the last seven days, EquiTrader has traded 8.8% higher against the U.S. dollar.
- [By Stephan Byrd]
Texas Permanent School Fund cut its holdings in shares of EQT Co. (NYSE:EQT) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,546 shares of the oil and gas producer’s stock after selling 1,713 shares during the quarter. Texas Permanent School Fund’s holdings in EQT were worth $3,396,000 at the end of the most recent quarter.
- [By Shane Hupp]
Stifel Financial Corp lessened its stake in EQT Co. (NYSE:EQT) by 10.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 175,489 shares of the oil and gas producer’s stock after selling 19,992 shares during the quarter. Stifel Financial Corp’s holdings in EQT were worth $8,353,000 at the end of the most recent reporting period.
Top 10 Energy Stocks To Watch Right Now: Woodward, Inc.(WWD)
Advisors’ Opinion:
- [By Ethan Ryder]
Plug Power (NASDAQ: PLUG) and Woodward (NASDAQ:WWD) are both industrial products companies, but which is the better investment? We will compare the two businesses based on the strength of their dividends, risk, analyst recommendations, institutional ownership, profitability, valuation and earnings.
- [By Shane Hupp]
Tdam USA Inc. decreased its holdings in shares of Woodward, Inc.Common Stock (NASDAQ:WWD) by 30.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,798 shares of the technology company’s stock after selling 4,765 shares during the period. Tdam USA Inc.’s holdings in Woodward, Inc.Common Stock were worth $802,000 at the end of the most recent quarter.
- [By Logan Wallace]
Get a free copy of the Zacks research report on Woodward, Inc.Common Stock (WWD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top 10 Energy Stocks To Watch Right Now: Independence Contract Drilling, Inc.(ICD)
Advisors’ Opinion:
- [By WWW.GURUFOCUS.COM]
For the details of AXAR CAPITAL MANAGEMENT L.P.’s stock buys and sells, go to https://www.gurufocus.com/guru/axar+capital+management+l.p./current-portfolio/portfolio
These are the top 5 holdings of AXAR CAPITAL MANAGEMENT L.P.SPDR S&P 500 (SPY) – 1,220,000 shares, 91.31% of the total portfolio. Stonemor Partners LP (STON) – 7,384,970 shares, 4.64% of the total portfolio. Shares added by 7.35%Patterson-UTI Energy Inc (PTEN) – 730,000 shares, 2.26% of the total portfolio. Independence Contract Drilling Inc (ICD) – 969,662 shares, 0.91% of the total portfolio. New PositionStage Stores Inc (SSI) – 3,700,000 shares, 0.82% of the total portfolio. Shares added by 6
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Independence Contract Drilling (ICD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
Independence Contract (NYSE: ICD) and Pacific Drilling (OTCMKTS:PACDQ) are both small-cap oils/energy companies, but which is the better investment? We will compare the two companies based on the strength of their earnings, institutional ownership, analyst recommendations, risk, valuation, dividends and profitability.
Top 10 Energy Stocks To Watch Right Now: Martin Midstream Partners L.P.(MMLP)
Advisors’ Opinion:
- [By Matthew DiLallo]
ONEOK (NYSE:OKE) has made several shrewd moves over the past few years, which have positioned it to grow its high-yielding dividend at a high rate. One of the latest is its recent deal to buy out Martin Midstream Partners’ (NASDAQ:MMLP) 20% interest in the West Texas LPG pipeline system. With full control of that pipeline, the company can more aggressively pursue expansion opportunities, which recently led it to secure a second project on the system that positions it for even more growth in the future.
- [By Joseph Griffin]
Martin Midstream Partners L.P. (NASDAQ:MMLP) – Equities research analysts at Capital One Financial lowered their FY2018 earnings per share estimates for shares of Martin Midstream Partners in a report released on Thursday, February 14th. Capital One Financial analyst K. May now forecasts that the pipeline company will earn $0.12 per share for the year, down from their previous estimate of $0.14. Capital One Financial also issued estimates for Martin Midstream Partners’ Q4 2018 earnings at $0.22 EPS and FY2020 earnings at $0.82 EPS.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Martin Midstream Partners (MMLP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Matthew DiLallo]
Master limited partnerships (MLPs) Buckeye Partners (NYSE:BPL) and Martin Midstream Partners (NASDAQ:MMLP) currently yield a jaw-dropping 13.7% and 17.4%, respectively. Both payouts are well above the 8% average yield of MLPs held in the Alerian MLP Index, which is a clear sign that the market doesn’t believe in the long-term viability of these payouts. Their unsustainability is even more apparent when we look at the embarrassingly weak financial profiles currently backing these payouts, which is why investors should steer clear of these high-yield stocks.
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Martin Midstream Partners (MMLP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top 10 Energy Stocks To Watch Right Now: Matador Resources Company(MTDR)
Advisors’ Opinion:
- [By Shane Hupp]
Matador Resources Co (NYSE:MTDR) – Equities researchers at Capital One Financial raised their Q3 2018 EPS estimates for shares of Matador Resources in a research report issued to clients and investors on Tuesday, September 25th. Capital One Financial analyst R. Tullis now anticipates that the energy company will post earnings of $0.36 per share for the quarter, up from their previous estimate of $0.34. Capital One Financial also issued estimates for Matador Resources’ Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $1.45 EPS.
- [By Shane Hupp]
Several institutional investors and hedge funds have recently made changes to their positions in MTDR. Rehmann Capital Advisory Group raised its position in shares of Matador Resources by 1,042.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,863 shares of the energy company’s stock valued at $29,000 after purchasing an additional 1,700 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Matador Resources by 64.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,550 shares of the energy company’s stock valued at $40,000 after purchasing an additional 1,000 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Matador Resources by 1,453.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 634,633 shares of the energy company’s stock valued at $41,000 after purchasing an additional 593,768 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in shares of Matador Resources by 89.4% in the 4th quarter. NumerixS Investment Technologies Inc now owns 8,002 shares of the energy company’s stock valued at $124,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Matador Resources in the 4th quarter valued at approximately $152,000. 88.12% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Matador Resources (MTDR) Shares Up 6%” was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright law. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/4155370/matador-resources-mtdr-shares-up-6.html.
About Matador Resources (NYSE:MT
- [By Joseph Griffin]
Matador Resources Co (NYSE:MTDR) – SunTrust Banks increased their Q3 2018 earnings per share estimates for shares of Matador Resources in a report issued on Monday, September 24th. SunTrust Banks analyst N. Dingmann now forecasts that the energy company will post earnings of $0.35 per share for the quarter, up from their previous forecast of $0.34. SunTrust Banks has a “Hold” rating and a $35.00 price target on the stock. SunTrust Banks also issued estimates for Matador Resources’ Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.47 EPS, FY2019 earnings at $1.67 EPS and FY2020 earnings at $2.13 EPS.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Matador Resources (MTDR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
Get a free copy of the Zacks research report on Matador Resources (MTDR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
Get a free copy of the Zacks research report on Matador Resources (MTDR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top 10 Energy Stocks To Watch Right Now: Vaalco Energy Inc(EGY)
Advisors’ Opinion:
- [By Lisa Levin] Gainers
Cara Therapeutics, Inc. (NASDAQ: CARA) shares surged 42.76 percent to close at $16.56 on Wednesday in reaction to a new licensing agreement with Europe-based Vifor Pharma. As part of the agreement, the biopharmaceutical company that alleviates pain licensed worldwide rights (except U.S., Japan, and South Korea) to Vifor Pharma to commercialize its KORSUVA therapy to Vifor $70 million.
Yangtze River Port and Logistics Limited (NASDAQ: YRIV) gained 31.28 percent to close at $7.05 on Wednesday.
Tiffany & Co. (NYSE: TIF) climbed 23.29 percent to close at $126.05 after the company reported upbeat results for its first quarter and raised its FY2018 earnings guidance.
EVO Payments, Inc. (NASDAQ: EVOP) gained 18.88 percent to close at $19.02. EVO Payments priced its IPO at $16 per share.
Carver Bancorp, Inc. (NASDAQ: CARV) rose 16.1 percent to close at $6.85.
USA Technologies, Inc. (NASDAQ: USAT) gained 15.68 percent to close at $13.65 after announcing pricing of public offering.
eXp World Holdings, Inc. (NASDAQ: EXPI) shares jumped 15.01 percent to close at $17.70.
Geron Corporation (NASDAQ: GERN) gained 14.99 percent to close at $4.68.
Evolus, Inc. (NASDAQ: EOLS) rose 14.62 percent to close at $19.36.
Ralph Lauren Corporation (NYSE: RL) shares rose 14.34 percent to close at $133.33 after the company reported stronger-than-expected results for its fourth quarter.
Turtle Beach Corporation (NASDAQ: HEAR) jumped 13.26 percent to close at $17.34 on Wednesday. Turtle Beach S-3 showed registration for 1.857 million share common stock offering via selling holders.
Communications Systems, Inc. (NASDAQ: JCS) rose 13.18 percent to close at $3.95. Communications Systems reported establishment of special committee to explore strategic alternatives.
Immutep Limited (NASDAQ: IMMP) shares climbed 12.95 percent to close at $2.53.
xG Technology, Inc. (NASDAQ: XGTI) rose 12.64 percent to close at $0.8561 after the company&rsq - [By Lisa Levin] Gainers
SenesTech, Inc. (NASDAQ: SNES) shares surged 296.07 percent to close at $1.25 on Monday after the California Department of Pesticide Regulation proposed to register the company's ContraPest for sale and use in California.
AgEagle Aerial Systems, Inc. (NASDAQ: UAVS) shares gained 19.59 percent to close at $2.93.
TransGlobe Energy Corporation (NASDAQ: TGA) rose 18.39 percent to close at $2.64 on Monday.
Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) shares gained 15.91 percent to close at $2.55.
VAALCO Energy, Inc. (NYSE: EGY) shares jumped 14.9 percent to close at $2.39.
Resonant Inc. (NASDAQ: RESN) climbed 13.96 percent to close at $4.49.
Chesapeake Energy Corporation (NYSE: CHK) shares rose 13.55 percent to close at $4.61 on Monday.
Lilis Energy, Inc. (NYSE: LLEX) surged 13.09 percent to close at $5.01.
MB Financial, Inc. (NASDAQ: MBFI) gained 12.9 percent to close at $49.28. Fifth Third Bancorp (NASDAQ: FITB) agreed to acquire MB Financial for $54.70 per share in cash and stock.
TransEnterix, Inc. (NYSE: TRXC) shares rose 12.83 percent to close at $3.43.
World Wrestling Entertainment, Inc. (NYSE: WWE) jumped 12.52 percent to close at $57.86 on Reports that it has reached a deal with Fox for Its 'Smackdown Live' program.
Eastman Kodak Company (NASDAQ: KODK) rose 12.38 percent to close at $5.90.
NuCana plc (NASDAQ: NCNA) climbed 11.94 percent to close at $26.44. NuCana appointed Dr. Cyrille Leperlier to its Board as an independent non-executive Director.
Aqua Metals, Inc. (NASDAQ: AQMS) rose 11.83 percent to close at $3.97 on Monday.
Huami Corporation (NYSE: HMI) shares jumped 11.27 percent to close at $10.17 following Q1 results.
21Vianet Group, Inc. (NASDAQ: VNET) gained 9.55 percent to close at $7.34.
Boxlight Corporation (NASDAQ: BOXL) rose 8.56 percent to close at $7.86 after the company announced an exclusive partnership with Multi Touch Interactives to strengthen the de - [By Money Morning Staff Reports]
But Blink and our other penny stocks to watch are unlikely to continue to lock in such spectacular gains in June. After looking at our 10 top penny stocks to watch this month, we’ll show you a small-cap stock with great profit potential in its future…
Penny Stock Current Share Price Law Month’s Gain
Blink Charging Co. (Nasdaq: BLNK) $7.07 439.85%
Senes Tech Inc. (Nasdaq: SNES) $1.27 175.40%
Vivis Inc. (Nasdaq: VVUS) $0.77 150.41%
Adomani Inc. (Nasdaq: ADOM) $1.49 137.68%
NF Energy Saving Co. (Nasdaq: NFEC) $2.34 134.88%
Vaalco Energy Inc. (NYSE: EGY) $2.15 109.06%
Heat Biologics Inc. (Nasdaq: HTBX) $2.35 99.12%
ArQule Inc. (Nasdaq: ARQL) $4.88 90.74%
LiqTech International Inc. (NYSE: LIQT) $0.66 85.60%
Transenterix Inc. (NYSE: TRXC) $3.46 77.84%While last month’s gains are tremendous, they also illustrate the inherent dangers that come with investing in penny stocks.
- [By Lisa Levin] Gainers
Cara Therapeutics, Inc. (NASDAQ: CARA) rose 18.2 percent to $13.71 in pre-market trading. Cara Therapeutics and Vifor Fresenius Medical Care Renal Pharma entered into ex-U.S. licensing agreement to commercialize KORSUVA™ injection in dialysis patients with pruritus.
Heat Biologics, Inc. (NASDAQ: HTBX) shares rose 10.6 percent to $2.20 in pre-market trading after surging 12.43 percent on Tuesday.
VAALCO Energy, Inc. (NYSE: EGY) rose 10.5 percent to $2.37 in pre-market trading after dropping 10.04 percent on Tuesday.
Boxlight Corporation (NASDAQ: BOXL) rose 8.3 percent to $7.15 in pre-market trading after falling 16.03 percent on Tuesday.
Tiffany & Co. (NYSE: TIF) rose 7.8 percent to $110.25 in pre-market trading after the company reported upbeat results for its first quarter and raised its FY2018 earnings guidance.
Heat Biologics, Inc. (NASDAQ: HTBX) shares rose 7.1 percent to $2.13 in pre-market trading. after climbing 12.43 percent on Tuesday.
Clementia Pharmaceuticals Inc. (NASDAQ: CMTA) rose 5.9 percent to $20.01 in pre-market trading after reporting positive Phase 2 Part B data showing treatment with palovarotene significantly reduces new bone growth in patients with FOP.
Under Armour, Inc. (NYSE: UA) rose 3.5 percent to $18.44 in pre-market trading.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) shares rose 3.5 percent to $2.95 in pre-market trading.
MetLife, Inc. (NYSE: MET) rose 3.2 percent to $50.00 in pre-market trading after reporting a $1.5 billion buyback plan.
Lowe's Companies, Inc. (NYSE: LOW) rose 3.2 percent to $88.51 in pre-market trading. Lowe's reported downbeat results for its first quarter on Wednesday.Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
Top 10 Energy Stocks To Watch Right Now: Noble Energy Inc.(NBL)
Advisors’ Opinion:
- [By Matthew DiLallo]
One of the main fuels of Noble Midstream’s growth forecast is the expansion plan of its oil-producing sponsor, Noble Energy (NYSE:NBL). Noble currently plans to invest about $2.8 billion per year through 2020 to grow its production, with 80% of that spending targeted to boost output from its U.S. shale plays, mainly in the Delaware and DJ Basins.
- [By Motley Fool Transcribers]
Noble Energy Inc (NYSE:NBL)Q4 2018 Earnings Conference CallFeb. 19, 2019, 9:00 a.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
- [By Matthew DiLallo]
Shares of Noble Energy, Inc. (NYSE:NBL) slumped 15.4% in August after the oil driller reported disappointing second-quarter results.
So what
Noble Energy generated $81 million, or $0.17 per share, of adjusted net income during the second quarter, which came in $0.05 per share below analysts’ expectations. While production increased 11% year over year and was in the upper half of the company’s guidance range, it didn’t keep as tight a lid on costs as analysts anticipated.
- [By Reuben Gregg Brewer]
The shares of China Petroleum & Chemical (NYSE:SNP), also known as Sinopec, rose 18% in January, according to data provided by S&P Global Market Intelligence. Not far behind were Canadian oil companies Vermilion Energy (NYSE:VET), with a global asset portfolio, and Suncor Energy (NYSE:SU), a Canadian oil sands specialist, with gains of 16% and 15%, respectively. U.S. based Noble Energy (NYSE:NBL), however, led this international quartet with a 19% leap. Noble’s portfolio is global, but it has a material position in the U.S. onshore drilling space.
- [By Matthew DiLallo]
However, the region has been growing so fast that oil producers are on pace to exceed its pipeline capacity in a matter of months. While several new lines are under development, drillers have already started slowing down. ConocoPhillips (NYSE:COP) and Noble Energy (NYSE:NBL) were among several producers that recently announced plans to reallocate some of their drilling activities to other regions. In ConocoPhillips’ case, it plans to drill more wells in the Eagle Ford shale, while Noble Energy will likely allocate more capital to Eagle Ford and the DJ Basin.
- [By Matthew DiLallo]
Fueling that forecast is the company’s ability to expand its midstream footprint to support the growth of its customers, including its parent Noble Energy (NYSE:NBL). The company operates several gathering systems in both the Permian Basin and DJ Basin that it expects to continue expanding as customers drill more wells.