Technical Research on Independent Oil & Gas Equities -- Denbury Resources, Cabot Oil & Gas, WPX Energy, and Murphy Oil
NEW YORK, June 13, 2017 /PRNewswire/ --
Today, DailyStockTracker.com reviews four Independent Oil and Gas stocks to see how current oil prices and market conditions have influenced their most recent performances: Denbury Resources Inc. (NYSE: DNR), Cabot Oil & Gas Corp. (NYSE: COG), WPX Energy Inc. (NYSE: WPX), and Murphy Oil Corp. (NYSE: MUR). According to a report on MarketWatch, investors are looking forward to the release of a slew of data this week, such as the International Energy Agency's report on Wednesday, which includes figures on the state of OECD stocks. The data will give traders a better picture of whether a global rebalancing is taking place in the oil market. Take a look at the free research reports issued today on DailyStockTracker.com for these stocks by signing up at:http://dailystocktracker.com/register/
Denbury Resources
On Monday, shares in Plano, Texas headquartered Denbury Resources Inc. ("DNR") recorded a trading volume of 7.61 million shares, which was higher than their three months average volume of 7.54 million shares. The stock ended the day at $1.54, rising 5.48% from the last trading session. The Company's shares are trading below their 50-day moving average by 23.60%. Furthermore, shares of Denbury Resources, which operates as an independent oil and natural gas company in the US, have a Relative Strength Index (RSI) of 41.46.
On May 30th, 2017, DNR announced that it has entered into a definitive agreement with certain subsidiaries of Linn Energy, Inc. to acquire their 23% non-operated working interest in Salt Creek Field in Wyoming for $71.5 million. The acquisition is expected to close in late June and is subject to satisfactory completion of due diligence reviews and customary closing conditions. Sign up and read the free research report on DNR at:http://dailystocktracker.com/registration/?symbol=DNR
Cabot Oil & Gas
Houston, Texas headquartered Cabot Oil & Gas Corp.'s stock saw a slight decline of 0.44%, finishing yesterday's session at $22.78 with a total trading volume of 5.91 million shares. The Company's shares are trading below their 200-day moving average by 1.77%. Shares of the Company, which develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the US, have an RSI of 47.49.
On June 06th, 2017, research firm Macquarie upgraded the Company's stock rating from 'Neutral' to 'Outperform'. The complimentary research report on COG can be downloaded at: http://dailystocktracker.com/registration/?symbol=COG
WPX Energy
Shares in Tulsa, Oklahoma headquartered WPX Energy Inc. ended the session 1.29% lower at $9.94. The stock recorded a trading volume of 9.99 million shares, which was above its three months average volume of 7.56 million shares. The Company's shares are trading 17.61% below their 50-day moving average. Moreover, shares of WPX Energy, which engages in the exploitation and development of unconventional properties in the US, have an RSI of 32.35.
On May 18th, 2017, WPX Energy's board of directors has approved a quarterly dividend of $0.78125 per share to holders of the Company's 6.25 percent Series A Mandatory Convertible Preferred Stock. The dividend is payable as of July 31st, 2017, to holders of record of the Company's preferred stock on July 14th, 2017.
On June 02nd, 2017, research firm Credit Suisse initiated an 'Outperform' rating on the Company's stock, with a target price of $18 per share. Register for free on DailyStockTracker.com and access the latest report on WPX at:http://dailystocktracker.com/registration/?symbol=WPX
Murphy Oil
At the closing bell on Monday, El Dorado, Arkansas headquartered Murphy Oil Corp.'s stock climbed 1.51%, finishing at $25.59. A total volume of 3.52 million shares was traded, which was above their three months average volume of 2.75 million shares. The Company's shares are trading 3.49% below their 50-day moving average. Additionally, shares of Murphy Oil, which operates as an oil and gas exploration and production company worldwide, have an RSI of 49.70.
On May 24th, 2017, research firm KLR Group initiated a 'Buy' rating on the Company's stock, with a target price of $41 per share. Get free access to your research report on MUR at:http://dailystocktracker.com/registration/?symbol=MUR
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