Wed, Mar. 30, 3:30 PM
- Analysts at Seaport Global upgrade seven oil and gas producers, advocating for increased exposure to select names they say should protect investors in the event of a move back toward $50/bbl, while downgrading 11 others.
- Seaport upgrades seven companies to Buy: Continental Resources (CLR +3.4%), Callon Petroleum (CPE +1.4%), Marathon Oil (MRO +1.9%), Oasis Petroleum (OAS +2.8%), Rice Energy (RICE +1.7%), Petroquest Energy (PQ +9.1%) and Lonestar Resources (OTCQX:LNREF +6.6%).
- Downgraded to Sell are Whiting Petroleum (WLL +4.1%), Southwestern Energy (SWN -2.5%), WPX Energy (WPX +0.6%), Laredo Petroleum (LPI -1.1%), Jones Energy (JONE +0.9%), Northern Oil & Gas (NOG +1%), Carrizo Oil & Gas (CRZO +1.6%), Memorial Resource (MRD +2.5%), Matador Resources (MTDR -0.3%), Sanchez Energy (SN +1.6%) and PDC Energy (PDCE -0.9%).
- The firm also favors gaining leverage to the Oklahoma STACK play, thus CLR and Newfield Exploration (NFX +1.9%) have "taken the pole position away" from Permian producers Parsley Energy (PE +1.3%) and Pioneer Natural Resources (PXD +1%).
Jul. 9, 2015, 12:26 PM
- Energy stocks are setting the pace for today's trading, outperforming a positive broader market as crude oil prices bounce back by more than $1 on extended nuclear deal talk deadlines with Iran and China's stock market turnaround.
- Among top gainers so far: CHK +4%, WLL +3%, DNR +3%, NOG +8.1%, CLR +2.9%, SWN +2.5%.
- Oppenheimer's Fadel Gheit is unmoved, believing oil prices "could stay lower and for longer than expected based on the low level of M&A activities as the gap in expectation between potential buyers and sellers remains wide."
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
Jul. 6, 2015, 3:15 PM
- WTI crude oil settled at a three-month low $52.53/bbl, -7.7%, on a confluence of worries about the Greece debt drama, China’s stock markets and a new flood of Iranian oil; Brent crude fell to $56.50, -6.3%, to snap its 100-day MA.
- WTI has dropped 10% over three straight sessions and Brent more than 7% lower in two consecutive days, breaking out of the narrow trading band of the past three months and risking a deeper slide ahead.
- The energy sector (XLE -1.3%) is easily the worst performing equity group today: CLR -7.4%, NOG -7.8%, OAS -8.5%, DNR -6.7%, WLL -6%.
- Oil supermajors also are sharply lower: XOM -1%, COP -2.8%, CVX -1.1%, BP -3.3%, TOT -3%.
- ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, TWTI, OLEM
Feb. 20, 2015, 5:37 PM
Feb. 10, 2015, 5:39 PM
Dec. 10, 2014, 12:58 PM
- Energy stocks are slammed across the board as oil prices take another nosedive (I, II), with the losses heaviest on shares of small, U.S.-based oil and gas producers.
- “Financial leverage is being thrown out the window, and everything else is being purged as well,” says Simmons analyst Bill Herbert, who adds that cuts to production budgets in the coming year likely will mean more pain for oil service companies.
- Among the hardest-hit shares: TPLM -15.2%, CRK -12.4%, GDP -11.9%, NOG -9.5%, AREX -8.6%.
- Investors have been less quick to dump shares of integrated oil companies, but today they have been smacked too: XOM -2.8%, CVX -2.9%, COP -2.3%, BP -2%, RDS.A -2.2%, TOT -2.3%.
- Today's worst performers on the S&P 500 include OKE -8.2%, DNR -7.4%, NE -5.6%.
- Service companies also are down: SLB -2.6%, HAL -2.7%, WFT -6.6%, BHI -2%.
- ETFs: XLE, ERX, VDE, OIH, ERY, DIG, DUG, IYE, XES, IEZ, PXI, FENY, PXJ, RYE, FXN, DDG
Nov. 28, 2014, 10:28 AM
- Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
- Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
Aug. 8, 2014, 9:11 AM
Aug. 7, 2014, 4:59 PM
- Northern Oil & Gas (NYSEMKT:NOG) +4.5% AH after reporting strong beats on Q2 earnings and revenues, and raising FY 2014 production guidance.
- NOG expects full-year output to increase 20%-25% Y/Y, vs. prior guidance of a 15% improvement, driven in part by excellent field conditions during Q2 as well as new completion designs.
- NOG says the new completion designs appear to be driving higher completed well costs, as the weighted average AFE cost of its 23.5 net wells in process as of June 30 was $9.2M; if the AFE cost trend continues, NOG would expect FY 2014 drilling and completion capex to rise by ~5% over prior guidance.
- Net well additions remain on pace to add ~44 net wells for the full year.
Jan. 29, 2014, 5:48 PM
- Northern Oil & Gas (NOG) +2.4% AH after saying it expects Q4 2013 production to average ~13.9K boe/day, up 28% Y/Y, and total production for FY 2013 was ~4.47M boe, up 19% Y/Y.
- NOG says it added 173 gross wells to production during Q4, with an additional 245 gross wells that were drilling or awaiting completion as of Dec. 31; NOG added 531 gross wells to production during FY 2013, with 1,758 total producing gross wells at year-end.
Jan. 2, 2014, 2:21 PM
- Some companies that produce oil in the Bakken region are seeing weakness amid lower crude prices and concerns about safety issues of transporting crude oil following the recent rail accident in North Dakota.
- The Pipeline and Hazardous Materials Safety Administration today issued a safety alert noting the type of crude oil being transported from the Bakken region may be more flammable than traditional heavy crude oil.
- Experts have said that unusually large amounts of naturally occurring and highly flammable petroleum products such as propane and ethane may be coming out of the ground with the Bakken crude.
- Among Bakken producers: NOG -5.3%, OAS -5.2%, CLR -4.9%, KOG -4.6%, WLL -3.5%, EOX -3.1%.
Dec. 10, 2013, 5:42 PM
Dec. 6, 2013, 11:19 AM
- There's ample reason to expect some consolidation among the patchwork quilt of small U.S. exploration and production companies drilling for oil, Barron's writes, focusing on two stocks that could rise at least 50%.
- A buyer could pay up for Northern Oil & Gas' (NOG -3.7%) cash flow, broad acreage holdings, and its knowledge of multiple operators in the Bakken Shale; using NOG's enterprise value of ~$1.5B, it trades at just 5.4x trailing EBITDA, while larger Bakken peers are trading at ~9x.
- Another attractive buyout candidate is Approach Resources (AREX +0.4%), which owns some of the cheapest reserves in the Permian Basin; AREX's assets likely are worth a good deal more given the rich price recently paid by Sinochem for a 40% stake in Permian player Pioneer Natural.
Aug. 8, 2013, 4:58 PM
- Northern Oil & Gas (NOG): Q2 EPS of $0.23 misses by $0.04.
- Revenue of $96.2M beats by $10.31M. Shares -1.4% AH. (PR)
Feb. 15, 2013, 5:46 PM
Feb. 12, 2013, 5:41 PM
Northern Oil and Gas, Inc. is engaged in the acquisition, exploration, development and production of crude oil and natural gas properties. It is focused on the Williston Basin Bakken and Three Forks play in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered... More
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Country: United States
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