| Moving Averages And Analysts’ Estimates for Upstream | |
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Could the Momentum in Crude Oil Be Short Lived? (Continued from Prior Part) Moving averages
As of December 23, 2015, the 100-day moving averages of upstream companies’ stocks showed strong resistance. For example, only Apache (APA) managed to trade above the 100-day moving average. Apache was trading 1.4% above its 100-day moving average. Additionally, EQT (EQT) and Cabot Oil and Gas (COG) were trading 22% and 19%, respectively, below their 100-day moving averages as of December 23. Upstream companies were also trading well below their 20-day moving averages. Only APA traded flat to its 20-day moving average. The table below shows several upstream companies’ moving averages and forward target prices.
The upstream operator Pioneer Natural Resources (PXD) was trading above its 100-day and 20-day moving averages, but after the Fed’s rate hike, Pioneer slipped below the two moving averages.
Also, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) traded 5% and 13%, respectively, below its 20-day and 100-day moving averages.
Wall Street analysts’ consensus estimate
Wall Street analysts’ consensus estimate suggests a 41% upside for these upstream companies. Over the next 12 months, EQT and Cabot Oil and Gas could see rises of 56% and 46%, respectively, from their levels as of December 23. You can see Wall Street analysts’ estimates for three other upstream companies over the next 12 months below:
- ConocoPhillips (COP) could see a 21% rise
- EOG Resources (EOG) could see a 23% rise
- Apache (APA) could see a 20% rise
Interestingly, the forward PE (price-to-earnings ratio) for next year suggests that ConocoPhillips is comparatively cheaper than other upstream companies.
In the next part, we’ll discuss the production mixes of these upstream companies.
Continue to Next Part Browse this series on Market Realist:
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ConocoPhillips
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CODE : COP |
ISIN : US20825C1045 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
ConocoPhillips est une société de production minière basée aux Etats-Unis D'Amerique. ConocoPhillips est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 153,3 milliards US$ (143,3 milliards €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 1991 à 10,94 US$, et son plus haut niveau récent le 26 avril 2024 à 130,24 US$. ConocoPhillips possède 1 177 107 000 actions en circulation. |