Pre-Market Technical Pulse on Independent Oil & Gas Stocks -- Carrizo Oil & Gas, Diamondback Energy, Baytex Energy, and Pioneer Natural Resources
NEW YORK, July 24, 2017 /PRNewswire/ --
If you want a Stock Review on CRZO, FANG, BTE, or PXD then come over to http://dailystocktracker.com/register/ and sign up for your free customized report today. Pre-market, DailyStockTracker.com covers the performances of the following Independent Oil and Gas companies: Carrizo Oil & Gas Inc. (NASDAQ: CRZO), Diamondback Energy Inc. (NASDAQ: FANG), Baytex Energy Corp. (NYSE: BTE), and Pioneer Natural Resources Co. (NYSE: PXD). According to Petro-Logistics, which tracks OPEC supply forecasts, OPEC crude production would rise by 145,000 barrels per day (bpd) this month, taking the group's combined output above 33 million bpd. Higher supply from Saudi Arabia, the United Arab Emirates, and Nigeria would drive this month's gains, it added. Sign up today on DailyStockTracker.com and download our free research reports on these featured stocks at:
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Carrizo Oil & Gas
Last Friday, shares in Houston, Texas-based Carrizo Oil & Gas Inc. ended the session 3.03% lower at $15.37. The stock recorded a trading volume of 3.52 million shares, which was above its three months average volume of 2.95 million shares. The Company's shares are trading below their 50-day moving average by 21.78%. Furthermore, shares of Carrizo Oil & Gas, which together with its subsidiaries, engages in the exploration, development, and production of oil and gas primarily in the US, have a Relative Strength Index (RSI) of 37.14.
On June 28th, 2017, Carrizo Oil & Gas announced that it has agreed to acquire Delaware Basin properties from ExL Petroleum Management, LLC (ExL), a portfolio company of Quantum Energy Partners, for $648 million in cash, subject to customary closing adjustments. Additionally, Carrizo has agreed to make a contingent payment to ExL of $50 million per year if WTI averages more than $50/Bbl in any calendar year during 2018 to 2021, up to a maximum of $125 million.
On July 20th, 2017, research firm JP Morgan downgraded the Company's stock rating from 'Overweight' to 'Neutral' while revising its previous target price from $30 a share to $21 a share. CRZO complete research report is just a click away at:
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Diamondback Energy
Midland, Texas headquartered Diamondback Energy Inc.'s stock finished 0.42% lower at $91.99 with a total trading volume of 1.22 million shares. The Company's shares have gained 6.04% in the last one month. The stock is trading below its 50-day moving average by 0.46%. Moreover, shares of Diamondback Energy, which focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas, have an RSI of 53.44.
On July 18th, 2017, research firm Imperial Capital initiated an 'Outperform' rating on the Company's stock, with a target price of $110 per share.
On July 20th, 2017, Diamondback Energy announced plans to release its Q2 2017 financial results on August 01st, 2017, after the market closes. The Company will also host a conference call and webcast to discuss its Q2 2017 results on August 02nd, 2017, at 10:00 a.m. CT. A live broadcast of the earnings conference call will also be available under the "Investor Relations" section of the Company's website. The complimentary report on FANG can be downloaded at:
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Baytex Energy
Shares in Calgary, Canada headquartered Baytex Energy Corp. closed the day 2.00% lower at $2.45. The stock recorded a trading volume of 598,387 shares. The Company's shares have gained 10.86% in the last month. The stock is trading below its 50-day moving average by 9.77%. Moreover, shares of Baytex Energy, which engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and Eagle Ford in the US, have an RSI of 45.59.
On June 26th, 2017, Baytex Energy provided an update on the Company's operational progress during Q2 2017 in accordance with its business plan. Based on field estimates for June, the Company's average production during Q2 2017 is estimated at 72,500 boe/d, representing a 5% increase over Q1 2017. The Company estimates its production in the first half of this year to be 70,900 boe/d. During Q2 2017, exploration and development capital expenditures were estimated at $78 million, bringing the aggregate spending in the first half of 2017 to about $174 million.
On July 05th, 2017, research firm Raymond James downgraded the Company's stock rating from 'Market Perform' to 'Underperform'. Sign up for your complimentary report on BTE at:
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Pioneer Natural Resources
Irving, Texas headquartered Pioneer Natural Resources Co.'s shares recorded a trading volume of 1.36 million shares last Friday. The stock closed 1.88% lower at $160.21. The Company's shares have advanced 3.34% in the past month. The stock is trading 2.46% below its 50-day moving average. Additionally, shares of Pioneer Natural Resources, which operates as an independent oil and gas exploration and production company in the US, have an RSI of 46.63.
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