| Moving Averages and Analyst Estimates for Oil and Gas Companies | |
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A Look into Energy Benchmarks before a Probable Rate Hike (Continued from Prior Part) Moving averages
The oil and gas drilling sub-industry is trading below its 100-day moving average. However, integrated oil and gas company Chevron traded 5% below its 100-day moving average, while ExxonMobil (XOM) traded 3% above its 100-day moving average. Also, Occidental petroleum (OXY) was trading 6.2% below its 100-day moving average as of December 11. In addition, oil and gas drilling companies Transocean (RIG) and Ensco (ESV) traded 6.6% below their 100-day moving average on an average basis.
Transocean and Ensco also traded 7.6% and 8%, respectively, below their respective 20-day moving averages. Finally, the Energy Select Sector SPDR ETF (XLE) traded 8.3% below its 100-day moving average and and 7.4% below its 20-day moving average.
Consensus Wall Street analysts’ estimate
The estimate suggests that integrated oil and gas may rise by an average of 13% compared to 1.4% for oil and gas drilling companies. Integrated oil and gas companies Occidental, Chevron, and ExxonMobil may rise by 20%, 8.9%, and 10%, respectively, over the next 12 months. Also, oil and gas drilling companies Transocean and Diamond Offshore may fall by 5.6% and 7.3%, respectively, over the next 12 months.
On the other hand, oil and gas drilling companies Helmerich & Payne (HP) and Ensco (ESV) may rise by 9.7% and 8.8%, respectively, over the next 12 months. The table above shows moving averages and target price for next 12 months for the above-mentioned stocks.
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 51.8 billions as of today (€ 48.4 billions). Its stock quote reached its highest recent level on March 16, 2012 at US$ 99.99, and its lowest recent point on October 16, 2020 at US$ 10.00. Occidental Petroleum has 764 580 032 shares outstanding. |