NEW YORK, August 22, 2016 /PRNewswire/ --
Talks of an OPEC move to stabilize oil prices next month had crude surging about 8% last week, its biggest weekly gain in four months. Stock-Callers.com looks at how rallying prices have affected the recent performances of these Independent Oil and Gas equities: Devon Energy Corp. (NYSE: DVN), CONSOL Energy Inc. (NYSE: CNX), Cabot Oil & Gas Corp. (NYSE: COG), and Anadarko Petroleum Corp. (NYSE: APC). Learn more about these stocks by downloading their free research reports in PDF format at: http://stock-callers.com/registration
Oklahoma City, Oklahoma headquartered Devon Energy Corp.'s stock recorded a trading volume of 4.46 million shares and finished the trading session 0.96% lower at $44.33. The Company's shares have gained 18.75% in the last one month, 29.65% over the previous three months, and 40.27% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 16.96% and 35.34%, respectively. Furthermore, shares of Devon Energy, which primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the US and Canada, have a Relative Strength Index (RSI) of 68.67.
As per notes filed with the SEC, on August 10th, 2016, Devon Energy announced the pricing and expiration of its tender offers to purchase for cash any and all of the 8.250% notes due 2018, issued by Devon OEI Operating, L.L.C., and the 6.300% notes due 2019, issued by the company. At the Expiration Date, (i) approximately $96.7 million of the $125,000,000 aggregate principal amount of outstanding 8.250% Notes was validly tendered and (ii) approximately $519.7 million of the $700,000,000 aggregate principal amount of outstanding 6.300% Notes was validly tendered. Sign up and read the free research report on DVN at: http://stock-callers.com/registration/?symbol=DVN
Last Friday, Canonsburg, Pennsylvania headquartered CONSOL Energy Inc.'s stock recorded a trading volume of 4.78 million shares and ended the session at 4.80% lower at $17.46. The Company's shares have gained 2.95% in the last one month, 32.57% over the previous three months, and 121.32% on an YTD basis. The stock is trading 5.14% above its 50-day moving average and 48.88% above its 200-day moving average. Moreover, shares of CONSOL Energy, which together with its subsidiaries, operates as an integrated energy company in the US and internationally, have an RSI of 48.34.
On August 2nd, 2016, CONSOL Energy announced that it has closed on its previously announced agreement to sell the Miller Creek and Fola mine complexes in southern West Virginia to Southeastern Land LLC.
On August 15th, 2016, research firm Bank of America/ Merrill upgraded the Company's stock rating from 'Underperform' to 'Neutral'. The complimentary research report on CNX can be downloaded at: http://stock-callers.com/registration/?symbol=CNX
Cabot Oil & Gas
Houston, Texas headquartered Cabot Oil & Gas Corp.'s shares ended the day 0.38% lower at $25.96. The stock recorded a trading volume of 5.26 million shares, which was above its three months average volume of 4.79 million shares. The Company's shares have gained 7.32% in the last month, 12.13% in the previous three months, and 47.14% on an YTD basis. The stock is trading 4.34% above its 50-day moving average and 18.98% above its 200-day moving average. Additionally, shares of Cabot Oil & Gas, which develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the US, have an RSI of 60.56.
On July 29th, 2016, the company reported that net loss in Q2 2016 was $62.9 million, or $0.14 per share, compared to net loss of $27.5 million, or $0.07 per share, in Q2 2015. The company's equivalent production in Q2 2016 was 151.8 billion cubic feet equivalent (Bcfe).
On August 11th, 2016, research firm Scotia Howard Weil upgraded the Company's stock rating from 'Sector Perform' to 'Sector Outperform', issuing a target price of $30 per share. Register for free on Stock-Callers.com and access the latest report on COG at: http://stock-callers.com/registration/?symbol=COG
Shares in The Woodlands, Texas headquartered Anadarko Petroleum Corp. recorded a trading volume of 3.16 million shares. The stock ended Friday's session 1.98% lower at $54.83. The Company's shares have gained 1.22% in the last month, 11.33% over the previous three months, and 13.10% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 1.56% and 11.16%, respectively. Furthermore, shares of Anadarko Petroleum, which engages in the exploration, development, production, and marketing of oil and gas properties, have an RSI of 53.82.
On August 2nd, 2016, The Board of Directors of Anadarko Petroleum declared a quarterly cash dividend on the company's common stock of $0.5 per share, payable September 28th, 2016, to stockholders of record at the close of business on September, 14th, 2016. Get free access to your research report on APC at: http://stock-callers.com/registration/?symbol=APC
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