| National Oilwell at 52-Week Low as Crude Price Slips Again - Analyst Blog | |
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What Led to the Share Price Decline? Subsequent to a prolonged period of plunging oil prices, West Texas Intermediate (WTI) crude started to trade slightly above $50 per barrel with a small hope of recovery. However, the rally did not sustain. Oil price again broke the $45 a barrel threshold to touch $43.46 a barrel – the lowest level ever since Mar 2009. This was due to a significant increase in the supply of the commodity in the U.S. and Libya. As per the Energy Information Administration (EIA) – provider of official energy statistics from the U.S. government – crude commercial inventory in the U.S. increased by 4.5 million barrels to 448.9 million barrels in the week ending Mar 6. This marked the ninth consecutive week of oil stock increase. In Libya, crude production almost doubled to 490,000 barrels per day as compared to data a few weeks ago, according to media releases. On top of that, EIA in its latest update, made an upward revision in its 2015 production projection. This implies that domestic crude output is expected to increase to 9.35 million barrels per day (bbl/d), slightly above the previous guidance of 9.3 million bbl/d. (Read our blog: Crude Production Grows Despite Best Efforts, Woes Remain) Iran too is expected to hike its crude export considerably once the U.S. removes all the sanctions against Tehran. The U.S. is now almost close to a nuclear deal with Iran. The announcements indicate that there is no immediate oil price recovery. Since, National Oilwell designs and manufactures equipment used in oil and gas drilling we can say that its business is positively correlated with oil prices. With the plunging crude price, there will be lower exploration and production activities which would call for reduced demand for drilling equipment. All these are reflected in the 52-week low share price of the company. Zacks Rank & Stock Picks Currently, National Oilwell carries a Zacks Rank #5 (Strong Sell). Some better-ranked players in the energy sector are Ferrellgas Partners LP FGP, Western Gas Equity Partners, LP WGP and Valero Energy Partners LP VLP. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NATL OILWELL VR (NOV): Free Stock Analysis Report FERRELLGAS -LP (FGP): Free Stock Analysis Report WESTERN GAS EP (WGP): Free Stock Analysis Report VALERO EGY PTNR (VLP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Ferrellgas
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CODE : FGP |
ISIN : US3152931008 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Ferrellgas est une société de production minière basée aux Etats-Unis D'Amerique. Ferrellgas est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 31,1 millions US$ (28,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 09 janvier 2009 à 9,98 US$, et son plus bas niveau récent le 10 janvier 2020 à 0,20 US$. Ferrellgas possède 97 152 665 actions en circulation. |