Oil & Gas Stocks on Investors' Radar -- Baytex Energy, California Resources, Sanchez Energy, and Pioneer Natural Resources
NEW YORK, August 12, 2016 /PRNewswire/ --
This morning's focus on Stock-Callers.com is on the Independent Oil and Gas space which continues to rise and fall along with fluctuating oil prices. On Wednesday, August 10, 2016, oil prices fell sharply but steadied yesterday after the International Energy Agency (IEA) forecast a crude rebalance in the coming months. Stocks in review are: Baytex Energy Corp. (NYSE: BTE), California Resources Corp. (NYSE: CRC), Sanchez Energy Corp. (NYSE: SN), and Pioneer Natural Resources Co. (NYSE: PXD). Learn more about these stocks by downloading their comprehensive and free reports at:
http://stock-callers.com/registration
Baytex Energy
Calgary, Canada headquartered Baytex Energy Corp.'s shares jumped 5.23% and finished Thursday's trading session at $5.03. A total volume of 3.01 million shares was traded. In the previous three months and since the start of this year, the stock has advanced 7.25% and 55.25%, respectively. The Company's shares are trading above their 200-day moving average by 25.65%. Moreover, shares of Baytex Energy, which engages in the acquisition, development, exploitation, and production of oil and natural gas in the Western Canadian Sedimentary Basin and the US, have a Relative Strength Index (RSI) of 50.07.
On July 28th, 2016, Baytex Energy reported funds from operations ("FFO") of CAD $81.3 million (CAD $0.39 per share) in Q2 2016. The company also reduced its net debt by CAD $39 million in Q2 2016 as FFO exceeded capital expenditures. Baytex Energy also announced that it has reinitiated production from heavy oil wells, shut-in during Q1 due to low oil prices; at June 30th, 2016 approximately 6,500 boe/d of the 7,500 boe/d previously shut-in had been re-started. BTE complete research report is just a click away and free at:
http://stock-callers.com/registration/?symbol=BTE
California Resources
On Thursday, shares in Los Angeles, California headquartered California Resources Corp. recorded a trading volume of 2.21 million shares, and ended the session 7.34% higher at $11.85. The stock is trading 8.56% below its 50-day moving average. Shares of the Company, which operates as an oil and natural gas exploration and production company in the State of California, have an RSI of 51.75.
On August 8th, 2016, California Resources announced that it increased from $525 million to $750 million the maximum amount of cash it may use to purchase its outstanding 5.0% Senior Notes due 2020, 5.5% Senior Notes due 2021, 6.0% Senior Notes due 2024, and 8.00% Second Lien Secured Notes due 2022 pursuant to its offer to purchase, upon the terms and conditions set forth in the offer to purchase, dated August 1st, 2016. The complimentary report on CRC can be downloaded at:
http://stock-callers.com/registration/?symbol=CRC
Sanchez Energy
Shares in Houston, Texas headquartered Sanchez Energy Corp. closed the day at $8.05, surging 6.91%. The stock recorded a trading volume of 2.76 million shares, which was above its three months average volume of 2.45 million shares. The Company's shares have gained 21.97% in the last one month and 86.77% on an YTD basis. The stock is trading 13.03% above its 50-day moving average and 40.10% above its 200-day moving average. Additionally, shares of Sanchez Energy, which engages in the exploration, acquisition, and development of oil and natural gas resources in the onshore U.S. Gulf Coast, have an RSI of 63.88.
On July 18th, 2016, research firm KLR Group upgraded the Company's stock rating from 'Hold' to 'Buy'. The research firm also revised upwards its previous target price from $8 a share to $9 a share.
On August 8th, 2016, Sanchez Energy reported that revenues of approximately $111 million (exclusive of hedge settlements) were up approximately 39% when compared to Q1 2016 due to improvements in realized commodity prices during the Q2 2016. On a GAAP basis, the company reported a net loss attributable to common stockholders of $186.9 million for Q2 2016, which includes a non-cash after tax impairment charge of $87.4 million and a non-cash mark-to-market loss on the value of the company's hedge portfolio of $93.5 million. Sign up for your complimentary research report on SN at:
http://stock-callers.com/registration/?symbol=SN
Pioneer Natural Resources
At the closing bell yesterday, shares in Irving, Texas headquartered Pioneer Natural Resources Co. ended 1.41% higher at $174.20 and with a total volume of 1.43 million shares traded. The stock has advanced 13.00% in the last one month, 4.29% in the previous three months, and 38.98% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 10.69% and 22.28%, respectively. Furthermore, shares of Pioneer Natural Resources, which engages in the development, exploration, and production of oil and gas in the US, have an RSI of 69.27.
On August 04th, 2016, research firm Societe Generale downgraded the Company's stock rating from 'Hold' to 'Sell'. Get free access to your research report on PXD at:
http://stock-callers.com/registration/?symbol=PXD
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