Pre-Market Technical Pulse on Oil & Gas Stocks -- California Resources, Callon Petroleum, Canadian Natural Resources, and Chesapeake Energy
NEW YORK, May 7, 2018 /PRNewswire/ -- If you want a free Stock Review on CRC, CPE, CNQ, and CHK sign up now at www.wallstequities.com/registration. Today's research on WallStEquities.com is focused on California Resources Corp. (NYSE: CRC), Callon Petroleum Co. (NYSE: CPE), Canadian Natural Resources Ltd (NYSE: CNQ), and Chesapeake Energy Corp. (NYSE: CHK). Independent Oil and Gas companies are basically entities that only explore for and produce oil and gas. Their biggest drivers are unquestionably oil and gas prices. All you have to do is sign up today for this free limited time offer by clicking the link below.
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California Resources
Last Friday, shares in Los Angeles, California headquartered California Resources Corp. ended the session 22.45% higher at $31.58. The stock recorded a trading volume of 6.73 million shares, which was above its three months average volume of 1.87 million shares. The Company's shares have surged 64.99% in the last month, 53.00% over the previous three months, and 210.83% over the past year. The stock is trading above its 50-day and 200-day moving averages by 67.60% and 111.90%, respectively. Furthermore, shares of California Resources, which operates as an oil and natural gas exploration and production company in the State of California, have a Relative Strength Index (RSI) of 80.16.
On April 09th, 2018, California Resources (CRC) announced that it has executed and closed a purchase and sale agreement with Chevron to acquire the remaining working, surface, and mineral interests in the 47,000-acre Elk Hills field in the San Joaquin Basin of California. Consolidating sole ownership of the Elk Hills field, CRC paid cash consideration of $460 million and issued 2.85 million CRC common shares to Chevron, subject to customary post-closing adjustments. The effective date of the transaction was April 01st, 2018.
On April 27th, 2018, research firm Societe Generale downgraded the Company's stock rating from 'Buy' to 'Hold'. Get the full research report on CRC for free by clicking below at:
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Callon Petroleum
Natchez, Mississippi headquartered Callon Petroleum Co.'s stock finished 2.11% higher at $13.55. A total volume of 6.14 million shares was traded, which was above their three months average volume of 4.10 shares. The Company's shares have gained 8.75% in the last month, 19.59% in the previous three months, and 19.38% over the past year. The stock is trading above its 50-day and 200-day moving averages by 8.84% and 18.58%, respectively. Moreover, shares of Callon Petroleum, which focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas, have an RSI of 53.99.
On May 03rd, 2018, Callon Petroleum announced that it will participate in the Tudor, Pickering, Holt & Co. 14th Annual Hotter 'N Hell Conference on May 15th, 2018, in Houston, Texas. The Company will also present at the Barclays High Yield Bond & Syndicated Loan Conference on May 22nd, 2018, at 4:05 p.m. MDT. Download our actionable research report on CPE at:
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Canadian Natural Resources
Shares in Calgary, Canada headquartered Canadian Natural Resources Ltd closed the day 0.40% higher at $35.54. The stock recorded a trading volume of 1.54 million shares. The Company's shares have gained 5.15% in the last month, 5.49% over the previous three months, and 18.03% over the past year. The stock is trading above its 50-day and 200-day moving averages by 8.92% and 6.96%, respectively. Moreover, shares of the Company, which explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids, have an RSI of 58.56.
On May 03rd, 2018, Canadian Natural Resources announced that its Board of Directors has declared a quarterly cash dividend on the Company's common shares of C$0.335 per common share. The dividend will be payable on July 01st, 2018, to shareholders of record at the close of business on June 15th, 2018. Register for your free report coverage on CNQ at:
www.wallstequities.com/registration/?symbol=CNQ
Chesapeake Energy
Oklahoma City, Oklahoma headquartered Chesapeake Energy Corp.'s shares recorded a trading volume of 29.04 million shares last Friday. The stock closed 4.45% higher at $3.05. The Company's shares are trading 0.39% above their 50-day moving average. Additionally, shares of Chesapeake Energy have an RSI of 52.87.
On April 17th, 2018, research firm Citigroup downgraded the Company's stock rating from 'Neutral' to 'Sell'.
On May 02nd, 2018, Chesapeake Energy reported its results for Q1 2018. Net income for Q1 2018 was $294 million, net income available to common stockholders was $268 million, and EBITDA was $703 million. As of March 31st, 2018, the Company's principal debt balance was approximately $9.400 billion. Get the free research report on CHK at:
www.wallstequities.com/registration/?symbol=CHK
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