NEW YORK, October 10, 2016 /PRNewswire/ --
Following a week-long rally, oil price dipped back below $50 on Friday, October 07, 2016, with U.S. oil for November delivery settling at $49.81 a barrel on the New York Mercantile Exchange, and Brent finishing at $51.93 on ICE Futures Europe. This morning, Stock-Callers.com takes a closer look at four stocks in the Independent Oil and Gas space to see how they have fared at the close: Devon Energy Corp. (NYSE: DVN), Anadarko Petroleum Corp. (NYSE: APC), Cabot Oil & Gas Corp. (NYSE: COG), and CONSOL Energy Inc. (NYSE: CNX). Learn more about these stocks by accessing their free research reports at: http://stock-callers.com/registration
Shares in Oklahoma City, Oklahoma headquartered Devon Energy Corp. ended Friday's session 1.54% lower at $42.81 with a total trading volume of 4.91 million shares. The stock has advanced 13.80% over the previous three months and 35.64% on an YTD basis. The Company's shares are trading 2.22% above their 50-day moving average and 29.29% above their 200-day moving average. Moreover, shares of Devon Energy, which primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the US and Canada, have a Relative Strength Index (RSI) of 53.26.
On October 6th, 2016, Devon Energy announced that it has completed the sale of its 50% ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for CAD $1.4 billion. Devon also has the right to receive an incremental CAD $150 million payment from Wolf Midstream with the sanctioning and development of a new thermal-oil project on Devon's Pike lease in Alberta, Canada. With the close of Access Pipeline, Devon's divestiture program is now complete with total proceeds reaching USD $3.2 billion. Free research report on DVN is available at: http://stock-callers.com/registration/?symbol=DVN
The Woodlands, Texas headquartered Anadarko Petroleum Corp.'s shares saw a slight drop of 0.61%, closing the day at $63.46 with a total trading volume of 2.69 million shares. The stock has advanced 7.54% in the last month, 13.70% in the previous three months, and 31.01% since the start of this year. The Company's shares are trading 12.09% above their 50-day moving average and 28.54% above their 200-day moving average. Additionally, shares of Anadarko Petroleum, which engages in the exploration, development, production, and marketing of oil and gas properties, have an RSI of 66.88.
On September 12th, 2016, the company announced that it has entered into a definitive agreement to acquire the deepwater Gulf of Mexico assets of Freeport McMoRan Oil & Gas for $2.0 billion. The transaction, effective August 1st, 2016, is expected to close prior to year end. The transaction adds approximately 80,000 net barrels of oil equivalent per day.
On October 4th, 2016, research firm Barclays reiterated its 'Equal Weight' rating on the Company's stock with an increase of the target price from $50 a share to $60 a share.The complimentary research report on APC can be downloaded at: http://stock-callers.com/registration/?symbol=APC
Cabot Oil & Gas
Last Friday, shares in Houston, Texas headquartered Cabot Oil & Gas Corp. dropped 2.94%, closing the session at $24.77. The stock recorded a trading volume of 12.57 million shares, which was higher than its three months average volume of 5.30 million shares. The Company's shares have advanced 40.40% on an YTD basis and are trading 8.21% above their 200-day moving average. Furthermore, shares of Cabot Oil & Gas, which develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the US, have an RSI of 46.97.
On September 23rd, 2016, research firm Raymond James upgraded the Company's stock rating from 'Market Perform' to 'Strong Buy'.
On October 3rd, 2016, Cabot Oil & Gas announced that it will host its Q3 2016 earnings conference call on October 28th, 2016, at 9:30 a.m. ET. The Company plans to issue its financial and operating results prior to the market opening on the same day. Visit us today and access our complete research report on COG at: http://stock-callers.com/registration/?symbol=COG
Canonsburg, Pennsylvania headquartered CONSOL Energy Inc.'s shares finished the session 0.94% lower at $20.02 with a total trading volume of 2.66 million shares. The stock has advanced 5.70% in the last month, 22.30% over the previous three months, and 153.77% on YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 10.05% and 48.25%, respectively. Additionally, shares of CONSOL Energy, which together with its subsidiaries, operates as an integrated energy company in the US and internationally, have an RSI of 65.05.
On October 7th, 2016, CNX Coal Resources L.P. announced that it has acquired an additional 5% undivided interest in the Pennsylvania Mining Complex and associated infrastructure from CONSOL Energy for $88.8 million. Get free access to your research report on CNXat: http://stock-callers.com/registration/?symbol=CNX
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