NEW YORK, March 17, 2017 /PRNewswire/ --
This morning, Stock-Callers.com takes notes of four Independent Oil and Gas stocks to see how current oil prices have influenced their recent performances. Under assessment are: Chesapeake Energy Corp. (NYSE: CHK), Southwestern Energy Co. (NYSE: SWN), Marathon Oil Corp. (NYSE: MRO), and Oasis Petroleum Inc. (NYSE: OAS). On Thursday, March 16th, 2017, West Texas Intermediate crude oil for April delivery edged down by 11 cents, or 0.2%, to settle at $48.75 a barrel after rallying by 2.4% on Wednesday. May Brent crude shed 7 cents, or 0.1%, to $51.74 a barrel on the ICE Futures exchange in London. Learn more about these stocks by downloading their free research reports in PDF format at:
On Thursday, shares in Oklahoma headquartered Chesapeake Energy Corp. recorded a trading volume of 29.19 million shares, and ended the day flat at $5.45. The stock is trading below its 200-day moving average by 8.79%. Shares of the Company, 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 41.98.
On February 23rd, 2017, Chesapeake announced that its Q4 2016 revenues declined by 24% y-o-y. Average daily production for Q4 2016 was approximately 574,500 barrels of oil equivalent (boe) consisting of approximately 90,400 bbls of oil, 2.562 bcf of natural gas and 57,100 bbls of NGL. Chesapeake reported a net loss available to common stockholders of $741 million, or $0.84 per share, while the Company's EBITDA for Q4 2016 was a loss of $198 million.
On February 24th, 2017, research firm UBS upgraded the Company's stock rating from 'Sell' to 'Neutral', with a target price of $6 per share. Sign up and read the free research report on CHK at:
Texas-based Southwestern Energy Co.'s stock saw a slight drop of 0.77%, finishing yesterday's session at $7.75 with a total trading volume of 9.80 million shares. Shares of the Company, which engages in the exploration, development, and production of natural gas and oil in the US, are trading below their 50-day moving average by 12.68%. The stock has an RSI of 42.97.
On February 23rd, 2017, Southwestern Energy announced its total capital investment program in full year 2017 is planned to be approximately $1.175 to $1.275 billion, funded by expected cash flow and $200 million remaining from its 2016 equity raise. Southwestern is targeting total net gas and liquids production of 890 to 910 Bcfe in full year 2017, and an increase of approximately 20% when comparing 2017 exit production rates to 2016 exit production rates.
On March 15th, 2017, research firm Citigroup upgraded the Company's stock rating from 'Neutral' to 'Buy'. The complimentary research report on SWN can be downloaded at:
Shares in Texas headquartered Marathon Oil Corp. ended the session 0.06% lower at $15.55 with a total trading volume of 9.51 million shares. The stock is trading 0.30% above its 200-day moving average. Shares of the Company, which operates as an energy company, have an RSI of 43.82.
On March 09th, 2017, Marathon announced that it has signed an agreement to sell its Canadian subsidiary, which includes the Company's 20% non-operated interest in the Athabasca Oil Sands Project, to Shell and Canadian Natural Resources Limited for $2.5 billion in cash, excluding closing adjustments. Marathon also announced the signing of a definitive agreement to acquire approximately 70,000 net surface acres in the Permian basin from BC Operating, Inc. and other entities for $1.1 billion in cash, excluding closing adjustments.
On March 10th, 2017, research firm Susquehanna upgraded the Company's stock rating from 'Neutral' to 'Positive'. Register for free on Stock-Callers.com and access the latest report on MRO at:
At the closing bell on Thursday, Texas headquartered Oasis Petroleum Inc.'s stock dropped 2.26%, finishing at $12.99. A total volume of 7.86 million shares was traded, which was above their three months average volume of 7.51 million shares. The Company's shares are trading 10.46% above their 200-day moving average. Additionally, shares of Oasis Petroleum, which focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin, have an RSI of 41.27.
On February 22nd, 2017, Oasis announced that average daily production was 50,372 barrels of oil equivalent per day in full year 2016 and 53,150 for Q4 2016. Net cash provided by operating activities was $228.0 million for full year 2016 and $104.6 million for Q4 2016. Adjusted EBITDA was $500.3 million for full year 2016 and $130.9 million for Q4 2016.
Yesterday, research firm Guggenheim upgraded the Company's stock rating from 'Neutral' to 'Buy'. Get free access to your research report on OAS at:
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