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China’s Deal with Iran: What Does It Mean for the Energy Market? (Continued from Prior Part) Moving averages
The 100-day moving averages of upstream companies’ stocks have shown strong resistance. For example, Pioneer Natural Resources (PXD) managed to trade above its 100-day moving average before December 15, 2015. Now it’s trading 17.3% below its 100-day moving average. Also, EQT Corporation (EQT) and Cabot Oil & Gas Corporation (COG) are trading 10% and 9%, respectively, below their 100-day moving averages. EQT and Cabot Oil & Gas operate with production mixes of 90% and 95%, respectively, in natural gas.
With the exception of EQT and COG, upstream companies are trading well below their 20-day moving averages. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is trading 28% below its 100-day moving average.
Wall Street analysts’ consensus estimates
The above table shows several upstream companies’ moving averages and forward target prices. Wall Street analysts’ consensus estimates suggest a 60.3% upside for these upstream companies—compared to the 42.2% upside estimates for large cap refineries. In part 7 of this series, we’ll discuss analysts’ estimates for large cap oil refining companies. Over the next 12 months, EQT and Cabot Oil & Gas could rise by as much as 32% and 21%, respectively, from current levels.
Wall Street analysts’ estimates for three other major upstream companies over the next 12 months are as follows:
- ConocoPhillips (COP) could see a 55% rise.
- EOG Resources (EOG) could rise by 35.5%.
- Apache (APA) could see a 30% rise.
Continue to Next Part Browse this series on Market Realist:
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Cabot Oil & Gas Corporation
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CODE : COG |
ISIN : US1270971039 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cabot Oil & Gas est une société d’exploration minière de pétrole basée aux Etats-Unis D'Amerique. Cabot Oil & Gas est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 10,2 milliards US$ (9,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 26 mars 2004 à 10,00 US$, et son plus haut niveau récent le 14 janvier 2022 à 22,20 US$. Cabot Oil & Gas possède 460 786 236 actions en circulation. |