NEW YORK, February 27, 2017 /PRNewswire/ --
Stock-Callers.com turns to the Independent Oil and Gas space to see how current oil prices have affected the performances of select equities at the close of the last trading session. Under assessment are Memorial Production Partners L.P. (NASDAQ: MEMP), Sanchez Energy Corp. (NYSE: SN), Canadian Natural Resources Ltd (NYSE: CNQ), and Kosmos Energy Ltd (NYSE: KOS). Oil prices fell about 1% on Friday, February 24th, 2017, as worries about rising US supplies outweighed OPEC pledges to boost compliance with output curbs, according to a Reuters report. Brent crude oil LCOc1 settled down 59 cents, or 1.04%, at $55.99 a barrel, while US West Texas Intermediate CLc1 ended the session 46 cents lower at $53.99 a barrel. Learn more about these stocks by downloading their free research reports in PDF format at:
Memorial Production Partners
Last Friday at the close, shares in Houston, Texas headquartered Memorial Production Partners L.P. ended 5.20% higher at $0.16. The stock recorded a trading volume of 585,553 shares. The Company's shares have advanced 31.50% on an YTD basis. The stock is trading below its 50-day moving average by 31.03%. Furthermore, shares of Memorial Production Partners, which through its subsidiary, Memorial Production Operating LLC, engages in the acquisition, development, exploitation, and production of oil and natural gas properties, have a Relative Strength Index (RSI) of 45.95.
On January 16th, 2017, Memorial announced that it has taken the next step to implement the financial restructuring contemplated under its previously announced Plan Support Agreements with certain of its noteholders and lenders. The Company has voluntarily filed for reorganization under Chapter 11 of the US Bankruptcy Code with the US Bankruptcy Court for the Southern District of Texas, Houston Division. The Company's operations and production are expected to continue as normal across its asset base throughout the court-supervised financial restructuring process. The Company expects to have sufficient liquidity to continue its operations and meet its obligations in the ordinary course. Sign up and read the free research report on MEMP at:
Shares in Houston, Texas headquartered Sanchez Energy Corp. ended the session 0.27% higher at $11.31 with a total trading volume of 3.23 million shares. The stock has gained 45.94% in the previous three months and 25.25% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 0.80% and 31.33%, respectively. Moreover, shares of Sanchez Energy, which engages in the exploration, acquisition, and development of oil and natural gas resources in the onshore US Gulf Coast, have an RSI of 41.31.
On February 02nd, 2017, research firm Piper Jaffray upgraded the Company's stock rating from 'Neutral' to 'Overweight'.
On February 22nd, 2017, Sanchez Energy reported revenues of approximately $126 million, up 15% on a y-o-y basis. The Company posted net income of $48.3 million for Q4 2016. Sanchez Energy reported adjusted earnings of $9.5 million for Q4 2016 compared to adjusted earnings of $2.0 million reported in Q4 2015. The complimentary research report on SN can be downloaded at:
Canadian Natural Resources
Calgary, Canada headquartered Canadian Natural Resources Ltd's stock finished Friday's session 2.01% lower at $28.81. A total volume of 3.80 million shares was traded, which was above their three months average volume of 2.66 million shares. The Company's shares are trading below their 200-day moving average by 6.66%. Additionally, shares of Canadian Natural Resources, which acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids, have an RSI of 38.15.
On February 02nd, 2017, research firm Desjardins upgraded the Company's stock rating from 'Hold' to 'Buy'.
On February 14th, 2017, Canadian Natural Resources announced that its year-end 2016 proved reserves increased 4% to 5.969 billion BOE with reserve additions and revisions of 551 million BOE. The Company's proved plus probable reserves increased 2% to 9.179 billion BOE with reserve additions and revisions of 433 million BOE. The Company reported that the net present value of future net revenues, before income tax, discounted at 10%, increased 6% to $69.3 billion for proved reserves and increased 4% to $92.3 billion for proved plus probable reserves. Register for free on Stock-Callers.com and access the latest report on CNQ at:
Hamilton, Bermuda-based Kosmos Energy Ltd's shares recorded a trading volume of 3.16 million shares, which was above their three months average volume of 2.44 million shares. The stock closed 0.33% lower at $5.99. The Company's shares have gained 19.09% in the previous three months. The stock is trading 2.71% above its 200-day moving average. Additionally, shares of Kosmos Energy, which explores for and produces oil and gas in Africa, Europe, and South America, have an RSI of 33.19. Get free access to your research report on KOS at:
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