Technical Roundup on Independent Oil & Gas Stocks -- Parsley Energy, California Resources, Gulfport Energy, and EP Energy
NEW YORK, January 12, 2017 /PRNewswire/ --
Stock-Callers.com directs investors' attention to the Independent Oil and Gas space which includes companies that are exclusively engaged in the exploration and production segment of the industry, with no downstream marketing or refining within their operations. These companies receive the majority of their revenue from production at the wellhead. Equities to assess today are: Parsley Energy Inc. (NYSE: PE), California Resources Corp. (NYSE: CRC), Gulfport Energy Corp. (NASDAQ: GPOR), and EP Energy Corp. (NYSE: EPE). Sign up today and download for free the research reports for the stocks covered today at:
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Parsley Energy
On Wednesday, shares in Austin, Texas headquartered Parsley Energy Inc. recorded a trading volume of 19.42 million shares, which was above their three months average volume of 3.04 million shares. The stock ended at $36.00, declining 1.83% from the last trading session. The Company's shares have gained 2.16% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 1.69% and 17.91%, respectively. Furthermore, shares of Parsley Energy, which engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin located in West Texas and Southeastern New Mexico, have a Relative Strength Index (RSI) of 50.49.
On January 10th, 2017, Parsley Energy announced that it has priced an underwritten, upsized public offering of 22,000,000 shares of Class A common stock for total gross proceeds of approximately $770.0 million. The 22,000,000 share offering represents a 2,000,000 share upsize to the originally proposed 20,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 3,300,000 shares of Class A common stock from the Company. The Equity Offering is expected to close on January 16th, 2017, subject to customary closing conditions. PE complete research report is just a click away at:
http://stock-callers.com/registration/?symbol=PE
California Resources
Los Angeles, California headquartered California Resources Corp.'s stock finished yesterday's session 2.92% higher at $20.10 with a total trading volume of 1.19 million shares. The Company's shares have gained 5.07% in the last one month and 68.06% over the previous three months. The stock is trading above its 50-day and 200-day moving averages by 21.31% and 42.04%, respectively. Furthermore, shares of California Resources, which operates as an oil and natural gas exploration and production company in the State of California, have an RSI of 55.49. The complimentary report on CRC can be downloaded at:
http://stock-callers.com/registration/?symbol=CRC
Gulfport Energy
At the closing bell on Wednesday, shares in Oklahoma City, Oklahoma headquartered Gulfport Energy Corp. rose 1.01%, ending the day at $21.02 with a total trading volume of 2.47 million shares. The stock is trading 13.52% below its 50-day moving average. Shares of the Company, which engages in the acquisition, exploration, exploitation, and production of natural gas, natural gas liquids, and crude oil in the US, have an RSI of 36.54.
On December 19th, 2016, research firm Guggenheim upgraded the Company's stock rating from 'Neutral' to 'Buy'.
On December 29th, 2016, Gulfport Energy announced that Aaron Gaydosik, the Company's Chief Financial Officer, has informed Gulfport of his decision to resign from the Company, effective January 04th, 2017, to pursue an external opportunity. In connection with Mr. Gaydosik's resignation, the Gulfport's Board of Directors has appointed Keri Crowell to the position of CFO. Sign up for your complimentary report on GPOR at:
http://stock-callers.com/registration/?symbol=GPOR
EP Energy
Houston, Texas headquartered EP Energy Corp.'s stock ended the day 0.17% lower at $6.04. A total volume of 2.95 million shares was traded, which was above their three months average volume of 2.56 million shares. The Company's shares have surged 45.54% over the previous three months. The stock is trading 14.22% above its 50-day moving average and 25.96% above its 200-day moving average. Additionally, shares of EP Energy, which acquires and develops unconventional onshore oil and natural gas properties in the US, have an RSI of 48.70.
As per a SEC filing dated November 30th 2016, EP Energy LLC, a wholly-owned subsidiary of EP Energy, and its wholly-owned subsidiary, Everest Acquisition Finance Inc., as co-issuer on November 29th, 2016, successfully completed the offering of $500.0 million aggregate principal amount of 8.00% Senior Secured Notes due 2024. The Notes were issued pursuant to an Indenture, dated as of November 29, 2016, among the Issuers, EP Energy's wholly-owned domestic subsidiaries party thereto as subsidiary guarantors and Wilmington Trust, National Association, as trustee and collateral agent. The Notes will mature on November 29th, 2024. Interest on the Notes will accrue at 8.00% per annum and will be paid semi-annually, in arrears, on May 30th and November 30th of each year, beginning May 30th, 2017.
On January 04th, 2017, research firm Citigroup downgraded the Company's stock rating from 'Neutral' to 'Sell'. Download the research report for free on EPE at:
http://stock-callers.com/registration/?symbol=EPE
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