NEW YORK, December 19, 2016 /PRNewswire/ --
For today, Stock-Callers.com turns to some equities in the Independent Oil and Gas space to see how current oil prices have affected their most recent performances. Stocks to assess are Oasis Petroleum Inc. (NYSE: OAS), Denbury Resources Inc. (NYSE: DNR), WPX Energy Inc. (NYSE: WPX), and ConocoPhillips (NYSE: COP). On Friday, December 16th, 2016, oil rose and edged closer to new 17-month highs as producers showed signs of adhering to a global deal to reduce output. According to a Reuters' report, Brent futures rose $1.19, or 2.2%, to settle at $55.21 a barrel, while US West Texas Intermediate (WTI) crude climbed $1, or 2%, to settle at $51.90 per barrel. Additionally, Goldman Sachs boosted its WTI price forecast for the second quarter of 2017 to $57.50 per barrel from $55. Learn more about these stocks by downloading their free research reports in PDF format at:
Last Friday at the close, shares in Houston, Texas headquartered Oasis Petroleum Inc. ended 3.47% higher at $15.82. The stock recorded a trading volume of 16.26 million shares, which was above its three months average volume of 14.22 million shares. The Company's shares have surged 27.58% in the last one month, 72.90% in the previous three months, and 114.65% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 26.84% and 59.22%, respectively. Furthermore, 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 a Relative Strength Index (RSI) of 64.66.
On December 09th, 2016, research firm Seaport Global Securities downgraded the Company's stock rating from 'Accumulate' to 'Neutral'. Sign up and read the free research report on OAS at:
Texas headquartered Denbury Resources Inc.'s stock finished Friday's session 0.77% lower at $3.85. A total volume of 18.22 million shares was traded, which was higher than their three months average volume of 11.32 million shares. The Company's shares have advanced 30.07% in the last one month, 38.99% over the previous three months, and 90.59% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 24.49% and 19.04%, respectively. Additionally, shares of Denbury Resources, which operates as an independent oil and natural gas company in the US, have an RSI of 61.18.
On November 03rd, 2016, Denbury Resources announced a net loss of $25 million, or $0.06 per diluted share, for Q3 2016. The Company's continuing production averaged 60,714 BOE per day ("BOE/d") during Q3 2016. The complimentary research report on DNR can be downloaded at:
Shares in Tulsa, Oklahoma headquartered WPX Energy Inc. ended the session 2.02% higher at $14.67. A total volume of 9.64 million shares was traded, which was above their three months average volume of 8.33 million shares. The stock has gained 13.90% in the past month, 21.24% in the previous three months, and 155.57% on an YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 13.70% and 40.25%, respectively. Moreover, shares of WPX Energy, which engages in the exploitation and development of unconventional properties in the US, have an RSI of 55.80.
On December 13th, 2016, WPX Energy's board of directors unanimously elected Richard E. "Rick" Muncrief as it next Chairman, effective January 01st, 2017. Muncrief also is WPX's President and Chief Executive Officer, positions he has held since May 15th, 2014.
On December 13th, 2016, research firm FBR & Co. reiterated its 'Outperform' rating on the Company's stock with an increase of the target price from $16 a share to $19 a share. Register for free on Stock-Callers.com and access the latest report on WPX at:
Houston, Texas headquartered ConocoPhillips' shares recorded a trading volume of 10.31 million shares, which was above their three months average volume of 8.43 million shares. The stock closed 0.39% higher at $51.94. The Company's shares have gained 17.03% in the past month, 33.00% in the previous three months, and 14.09% since the start of this year. The stock is trading 14.87% above its 50-day moving average and 21.21% above its 200-day moving average. Additionally, shares of ConocoPhillips, which explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide, have an RSI of 69.68.
On November 28th, 2016, research firm Goldman upgraded the Company's stock rating from 'Neutral' to 'Buy'.
On December 14th, 2016, ConocoPhillips announced it has completed its planned 2016 asset dispositions. The proceeds from these dispositions are being used for debt reduction, share repurchases, and general corporate purposes. The company generated approximately $1.3 billion of proceeds from asset dispositions in 2016. Get free access to your research report on COP at:
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