NEW YORK, October 25, 2016 /PRNewswire/ --
Stock-Callers.com has issued research reports on four Independent Oil and Gas equities to see how current oil prices are affecting their most recent performances: Chesapeake Energy Corp. (NYSE: CHK), Marathon Oil Corp. (NYSE: MRO), Southwestern Energy Co. (NYSE: SWN), and Cobalt International Energy Inc. (NYSE: CIE). On Monday, October 24, 2016, oil prices dropped after Iraq said it wanted to be exempted from the production cut. Learn more about these stocks by downloading their free research reports in PDF format at: http://stock-callers.com/registration
Oklahoma City, Oklahoma headquartered Chesapeake Energy Corp.'s shares saw a decline of 4.79% and finished Monday's trading session at $6.36. A total volume of 60.09 million shares was traded, which was above their three months average volume of 52.20 million shares. In the previous three months and since the start of this year, the stock has advanced 18.88% and 41.33%, respectively. The Company's shares are trading above their 200-day moving average by 31.03%. Moreover, shares of Chesapeake Energy, which engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the US, have a Relative Strength Index (RSI) of 47.22.
On October 19th, 2016, Williams Partners L.P. and Crestwood Equity Partners L.P., as 50/50 joint venture partners in the Bucking Horse natural gas processing plant and Jackalope Gas Gathering System, announced they have signed an agreement with Chesapeake Energy to restructure natural gas gathering and processing services in Wyoming's Powder River Basin. The restructured services are expected to replace the current cost-of-service arrangement and improve economics to support a ramp-up in near-term development and production activity and incentivize long-term development across an expanded area of dedication in the region.
On October 21st, 2016, research firm Bank of America/ Merrill upgraded the Company's stock rating from 'Underperform' to 'Neutral'. Sign up and read the free research report on CHK at: http://stock-callers.com/registration/?symbol=CHK
On Monday, shares in Houston, Texas headquartered Marathon Oil Corp. recorded a trading volume of 10.07 million shares, and ended the session 0.34% lower at $14.59. The stock has gained 0.69% in the last one month, 6.24% in the previous three months, and 17.59% on an YTD basis. The Company's shares are trading 15.16% above their 200-day moving average. Furthermore, shares of Marathon Oil, which operates as an energy company, have an RSI of 43.89.
On October 03rd, 2016, Marathon Oil announced that the Company has signed an agreement for the sale of certain non-operated CO2 and waterflood assets in West Texas and New Mexico for $235 million, excluding closing adjustments. The properties averaged approximately 4,000 barrels of oil equivalent per day in the first half of 2016. Since August 2015, Marathon Oil has announced or closed non-core asset sales in excess of $1.5 billion.
On October 17th, 2016, research firm Barclays downgraded the Company's stock rating from 'Overweight' to 'Equal Weight'. The research firm also revised downwards its previous target price from $18 to $17. The complimentary research report on MRO can be downloaded at: http://stock-callers.com/registration/?symbol=MRO
Shares in Spring, Texas-based Southwestern Energy Co. closed the day at $11.20, down 3.36%. The stock recorded a trading volume of 26.13 million shares, which was above its three months average volume of 12.28 million shares. The Company's shares have surged 57.52% since the start of this year, and are trading 2.60% below their 200-day moving average. Additionally, shares of Southwestern Energy, which explores for, develops, and produces natural gas and oil primarily in the US, have an RSI of 29.13.
On October 18th, 2016, research firm KLR Group upgraded the Company's stock rating from 'Hold' to 'Accumulate'.
On October 20th, 2016, Southwestern reported adjusted net income attributable to common stock of $12 million, or $0.03 per diluted share, for Q3 2016 compared to adjusted net income attributable to common stock of $3 million, or $0.01 per diluted share, in Q3 2015. Net cash provided by operating activities was $172 million for Q3 2016 compared to $287 million in Q3 2015. Register for free on Stock-Callers.com and access the latest report on SWN at: http://stock-callers.com/registration/?symbol=SWN
At the closing bell yesterday, shares in Houston, Texas-based Cobalt International Energy Inc. ended flat at $1.08 and with a total trading volume of 2.41 million shares. The stock has advanced 1.89% in the last one month. The Company's shares are trading below their 50-day moving average by 4.80%. Furthermore, shares of Cobalt International Energy, which through its subsidiaries, operates as an oil and gas exploration and production company primarily in the deepwater U.S. Gulf of Mexico, have an RSI of 48.87. Get free access to your research report on CIE at: http://stock-callers.com/registration/?symbol=CIE
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