NEW YORK, January 25, 2017 /PRNewswire/ --
Stock-Callers.com explores the Independent Oil and Gas space to check on the performances of select equities. Lined up this morning are: Callon Petroleum Co. (NYSE: CPE), Cobalt International Energy Inc. (NYSE: CIE), Hess Corp. (NYSE: HES), and Rice Energy Inc. (NYSE: RICE). On Tuesday, January 24th, 2017, oil prices edged higher as confidence in attempts to limit output by major oil-producing nations offset concerns about an increase in US production activity. As per a report on The Wall Street Journal, light, sweet crude for March delivery settled up 43 cents, or 0.8%, to $53.18 a barrel on the New York Mercantile Exchange, while Brent gained 21 cents, or 0.4%, to $55.44 a barrel. Learn more about these stocks by downloading their free research reports in PDF format at:
Natchez, Mississippi headquartered Callon Petroleum Co.'s stock finished Tuesday's session 0.13% higher at $15.05 with a total trading volume of 3.88 million shares. The Company's shares are trading above their 200-day moving average by 12.85%. Shares of the Company, which acquires, explores for, develops, and produces oil and natural gas properties in the Permian Basin in West Texas, have a Relative Strength Index (RSI) of 41.77.
On January 16th, 2017, Callon Petroleum announced that it will host a conference call on February 28th, 2017, at 9:00 a.m. CT to discuss Q4 2016 financial and operating results. The Company plans to release Q4 2016 results after the close of markets on February 27th, 2017. Sign up and read the free research report on CPE at:
Shares in Houston, Texas-based Cobalt International Energy Inc. rose 1.71%, ending yesterday's session at $1.19 with a total trading volume of 2.05 million shares. The stock has gained 10.19% in the previous three months. The Company's shares are trading 1.88% below their 50-day moving average. Moreover, shares of Cobalt International Energy, which through its subsidiaries, operates as an oil and gas exploration and production company primarily in the deepwater US Gulf of Mexico, have an RSI of 49.42.
On January 04th, 2017, the Company announced it has completed drilling operations on the North Platte #4 appraisal well. The Company stated that the preliminary results are encouraging and indicate that the well encountered approximately 650 feet of net oil pay, which is greater than the approximately 550 feet of net pay found in the North Platte #3 appraisal well. The North Platte #4 initial appraisal results also indicate high quality Inboard Lower Tertiary Wilcox reservoirs on the eastern flank of the North Platte field. Cobalt is currently evaluating log data, fluid samples and pressure information and is preparing for a geologic sidetrack to further analyze the extent of the eastern flank of the field. The complimentary research report on CIE can be downloaded at:
On Tuesday, New York headquartered Hess Corp.'s stock climbed 0.65%, to close the day at $57.52. A total volume of 4.01 million shares was traded. The Company's shares have advanced 9.46% in the previous three months. The stock is trading 3.86% above its 200-day moving average. Additionally, shares of Hess, which develops, produces, purchases, transports, and sells crude oil, natural gas liquids, and natural gas, have an RSI of 41.16.
On January 12th, 2017, Hess announced that the Company's 2017 E&P capital and exploratory budget will be $2.25 billion compared to its 2016 actual spend of $1.9 billion. The Company's net 2017 production is forecasted to average between 300,000 and 310,000 barrels of oil equivalent per day, excluding Libya. Hess' Q4 2016 results will include a noncash charge of approximately $3.8 billion to establish valuation allowances against net deferred tax assets as of December 31st, 2016, as required under accounting standards following a three-year cumulative loss. Register for free on Stock-Callers.com and access the latest report on HES at:
Shares in Canonsburg, Pennsylvania-based Rice Energy Inc. ended the day 5.13% higher at $21.52. A total volume of 3.87 million shares was traded. The stock has gained 0.51% in the last one month and 0.80% since the start of this year. The Company's shares are trading below their 50-day moving average by 4.42%. Furthermore, shares of Rice Energy, which engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid properties in the Appalachian Basin, have an RSI of 50.89.
On December 20th, 2016, Rice Energy announced that Steven C. Dixon resigned as a member of the Rice Energy's Board of Directors in order to pursue other opportunities. Mr. Dixon joined the Company's board in December 2014.
Yesterday, research firm Williams Capital Group upgraded the Company's stock rating from 'Hold' to 'Buy' while revising its previous target price from $25 a share to $27 a share. Get free access to your research report on RICE at:
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