What's your position on ?
Why are you ish?
You voted ish on Vote again
Posts appear on the My Feed page of subscribers to this ticker
Yesterday, 9:17 AM
Tue, Feb. 9, 5:21 PM
- Standard & Poor's downgrades the junk ratings of 25 oil and gas companies on expectations of deteriorating credit quality due to low commodities prices and reduced production.
- The ratings firm, which also affirmed the ratings of an additional 20 speculative-grade E&P companies, says the ratings actions follow a revision of its price assumptions for crude oil and natural gas.
- Among companies receiving downgrades: AREX, BBG, BCEI, BBEP, CWEI, DNR, EPE, EVEP, GST, KOS, LGCY, MEMP, NOG, OAS, REN, SM, SGY, TPLM, UNT, WTI, WLL
- Last week, S&P cut the ratings of 10 U.S. oil and gas E&P companies, including investment-grade Chevron, and placed Exxon's AAA corporate rating on watch for a possible downgrade.
Wed, Feb. 3, 9:19 AM
Thu, Jan. 28, 7:02 PM
- A lower outlook for oil and natural gas prices prompts a round of reductions in energy company estimates, ratings and price targets at Wunderlich, which downgrades Chesapeake Energy (NYSE:CHK), Halcon Resources (NYSE:HK), Oasis Petroleum (NYSE:OAS) and Whiting Petroleum (NYSE:WLL) to Hold from Buy and SandRidge Energy (NYSE:SD) to Sell from Hold.
- Wunderlich also upgrades Cimarex (NYSE:XEC) to Buy from Hold with a $122 price target price, as the stock has weakened and the firm gives more credit to the company for its Cana-Woodford assets.
- The firm says nearly all of its covered companies that predominantly operate in the Bakken Shale are now rated Hold or Sell, but that it mostly reflects the tougher economics of the region rather than the quality of the companies.
Thu, Jan. 28, 9:23 AM
- Gainers: NEOS +59%. DNR +17%. BCEI +16%. UA +16%. FB +14%. INO +13%. ATHX +12%. PBR +12%. WLL +11%. MRO +10%. [[PBR-A]] +10%. TRXC +9%. CHK +9%. MLNX +9%. LINE +9%. MT +9%. SDRL +8%. HOG +8%. ETE +8%. STO +8%. CRUS 7%. KMI 7%. BBL 6%. HCA 6%. MJN 6%. CJES 6%. PYPL 6%.
- Losers: NOW -22%. OSIS -22%. EBAY -11%. INVN -10%. URI -10%. INCY -9%. JNPR -10%. OAS -7%.
Thu, Jan. 28, 7:57 AM
- Oasis Petroleum (NYSE:OAS) -7.7% premarket after announcing a public offering of 34M common shares, with an underwriters option to purchase up to an additional 5.1M shares.
- OAS says it plans to use the proceeds for general corporate purposes and to fund part of its 2016 capital spending, which the company now projects at $385M-$435M, ~30% below 2015 levels.
- OAS says its 2015 capex totaled $605M-$615M, below its $670M plan, and that 2015 production rose 11% Y/Y to 50,477 boe/day; Q4 production averaged 50,652 boe/day, which exceeded the high-end of company guidance of 49K boe/day.
Mon, Jan. 25, 9:14 AM
Fri, Jan. 22, 9:21 AM
Thu, Jan. 21, 2:39 PM
- A new report from Sterne Agee CRT analyst Tim Rezvan suggests the situation for oil and gas E&P stocks is not as bad as the market fears for many companies.
- After studying liquidity positions of the E&P names under the firm's coverage, Rezvan concludes that only Chesapeake Energy (CHK +4%), Gastar Exploration (GST +13.2%) and Ultra Petroleum (UPL +25.7%) face potential credit issues prior to 2018.
- Conversely, Rezvan says Oasis Petroleum (OAS +8.5%) and Whiting Petroleum (WLL +11.3%) maintain strong liquidity despite sharp equity underperformance and can withstand the reduction in credit facilities expected this spring from lending banks feeling stress in their energy loan portfolios.
- The firm has Buy ratings on OAS and WLL, and Neutral ratings on CHK, GST and UPL.
Fri, Jan. 15, 9:29 AM
Fri, Jan. 15, 8:50 AM
- Losses are deepening in the market for low-rated energy debt, as investors worry that the prolonged slump in commodity prices and slowing economic growth will push many companies into default, WSJ reports.
- Bonds among the biggest losers yesterday were from WPX Energy (NYSE:WPX) and Oasis Petroleum (NYSE:OAS), each down ~12% from the previous day, according to the report; a 2019 bond from OAS traded at $0.53 cents on the dollar, and a WPX bond maturing in 2023 traded at $0.655.
- The losses come after many investors already have exited some larger oil and gas producers in the junk market; for example, a 2023 bond from Chesapeake Energy (NYSE:CHK) is trading at $0.285, roughly the same as in mid-December.
- Energy sector junk bond losses already are near 4% YTD, and the spread vs. U.S. Treasurys hit 14 percentage points on Wednesday, the highest since December 2008, according to Barclays.
- ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, ARDC, MCI, VLT, KIO, CIF, AIF, MHY, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC
Tue, Jan. 5, 2:47 PM
- An eventual upturn in crude oil prices should turn the tide for the E&P sector In 2016, Citi analyst Robert Morris says as he upgrades Anadarko Petroleum (APC -1%), Canadian Natural Resources (CNQ +1%), EOG Resources (EOG +0.8%) and Cimarex Energy (XEC +1.4%) to Buy from Neutral and ups Oasis Petroleum (OAS -3.3%) to Neutral from Sell.
- For the first time in more than a decade, the per share debt-adjusted growth metrics within the E&P sector showed no correlation to the share price performance in 2015, according to Morris; without a further collapse in commodity prices, he sees debt-adjusted growth metrics, along with key debt metrics and the ability to increase production by spending within cash flow, driving relative E&P share performance.
- Morris maintains Buy ratings on Antero Resources (AR -2.4%), Apache (APA -2.3%), Concho Resources (CXO +1%), Memorial Resource Development (MRD -2%), Range Resources (RRC -0.4%) and Whiting Petroleum (WLL -7.1%), but downgrades Hess (HES -0.5%) to Neutral from Buy.
Dec. 31, 2015, 1:52 PM
- The volatility continues: After getting drubbed yesterday following the release of EIA inventory data, a slew of North American oil/gas industry firms are up strongly today as Nymex natural gas futures rise 6.1% to $2.35/MMBtu. The EIA reported today a weekly U.S. natural gas inventory change of -58 Bcf (close to expectations) to 3,756 Bcf.
- Oil is also higher: WTI crude is up 2.5% to $37.53/barrel, and Brent crude up 3.7% to $37.80/barrel. The S&P is down 0.3%.
- Also: Cheniere Energy (LNG +3.4%) has begun production at its Sabine Pass terminal, which will be the first to export shale gas from the U.S. Partner ING Capital states Cheniere is currently receiving, chilling, and storing 50M cubic feet of gas per day at the facility.
- Major gainers include Southwestern Energy (SWN +9.6%), Williams (WMB +5.6%), Encana (ECA +4.5%), Gulfport Energy (GPOR +5.3%), Whiting Petroleum (WLL +8.2%), Rice Energy (RICE +5.6%), SandRidge Permian Trust (PER +8.9%), Oasis Petroleum (OAS +5.9%), BP Prudhoe Bay Royalty Trust (BPT +7.3%), and Baytex Energy (BTE +9.3%). ONEOK is up over 7% after catching an upgrade from Credit Suisse.
Dec. 30, 2015, 9:15 AM
Dec. 29, 2015, 9:20 AM
Dec. 28, 2015, 11:45 AM
- WTI crude is down 3.2% to $36.90/barrel, and Brent crude down 2.5% to $36.95/barrel, leaving prices close to 11-year lows. Energy industry firms are among the biggest decliners on a day the S&P is down 0.6%.
- Fears about excess supply appear to be weighing once more. OPEC figures point to a global oil supply glut of more than 2M barrels (over 2% of global demand); a smaller glut is expected next year. Meanwhile, Japanese government data indicates the country's oil product sales fell to a 46-year low in November, and European data suggests the continent's oil product demand growth turned negative in October.
- The biggest casualties include Whiting Petroleum (WLL -9.9%), Oasis Petroleum (OAS -8.2%), Vanguard Natural Resources (VNR -12.5%), Denbury Resources (DNR -8%), SandRidge Energy (SD -8.1%), SandRidge Permian Trust (PER -10.9%), SandRidge Mississippian Trust (SDT -7.5%), U.S. Silica (SLCA -6.2%), Marathon Oil (MRO -6.7%), C&J Energy Services (CJES -8.1%), MV Oil Trust (MVO -9.2%), Bonanza Creek (BCEI -6.4%), Parker Drilling (PKD -7.9%), and Continental Resources (CLR -5.9%).
- Other notable decliners include Kinder Morgan (KMI -5%), Williams Partners (WPZ -4.4%), EOG Resources (EOG -3.4%), Cheniere Energy (CQP -3.6%), SeaDrill (SDRL -3.5%), Encana (ECA -2.8%), Devon Energy (DVN -2.7%), Ensco (ESV -3.8%), Hercules Offshore (HERO -4.7%), Atwood Oceanics (ATW -4.9%), Helmerich & Payne (HP -3.8%), and Pioneer Natural (PXD -2.6%).
- ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, FENY, PXE, FIF, PXJ, NDP, RYE, FXN, DDG, DRIP, GUSH
Oasis Petroleum Inc is an exploration and production company. The Company acquires and develops unconventional oil and natural gas resources in the Montana and North Dakota regions of the Williston Basin.
Other News & PR