For the first time since March, Brent crude topped $50 a barrel last week, a landmark for an oil market that has been working its way back out of a severe recession for months.
Things are not quite back to usual, but there are gaining traction optimistic signs. The immense fuel surplus that accrued on anything from tiny barges to gigantic supertankers is continuously being drained.
While the coronavirus pandemic is stronger than ever in the U.S., as the second round of lockdowns eases, demand in Europe is roaring back, and Asia continues to take in big volumes of oil.
Cabot Oil & Gas Corporation (NYSE:COG) shares were trading down -3.68% at $17.00 at the time of writing on Friday.
Cabot Oil & Gas Corporation (NYSE:COG) share price went from a low point around $13.06 to briefly over $22.67 in past 52 weeks, though shares have since pulled back to $17.00. COG market cap has remained high, hitting $7.03B at the time of writing, giving it price-to-sales ratio of more than 4.
If we look at the recent analyst rating COG, Siebert Williams Shank upgraded coverage on COG shares with a Buy rating and a $22.16 price target, which implies room for 5.16% upside momentum this year.
Tellurian Inc. (TELL) last closed at $1.30, in a 52-week range of $0.67 to $8.69. The company on November 30, 2020 announced the appointments of Octávio Simões as President and Chief Executive Officer (CEO), and Jonathan Gross and Jean Abiteboul as new independent Board members.
Cenovus Energy Inc. (CVE) stock soar by 0.16% to $6.21. On December 2, 2020, the company and Headwater Exploration Inc. (TSX:HWX) declared the closing of the acquisition by Headwater of Cenovus’s assets in the Marten Hills area of Alberta. The most recent rating by Morgan Stanley, on December 11, 2020, is at an Equal-weight.
Suncor Energy Inc. (NYSE:SU) Shares headed falling, lower as much as -1.01%. The firm on December 1, 2020 released its 2021 corporate guidance. The most recent rating by CIBC, on October 26, 2020, is at a Sector outperform.
PBF Energy Inc. (NYSE:PBF) fall -7.36% after losing more than -$0.65 on Friday.
Devon Energy Corporation (DVN) last closed at $16.16, in a 52-week range of $4.60 to $26.42. On December 2, 2020, Devon Energy revealed that its board of directors has declared a quarterly cash dividend on Devon’s common stock for the first quarter of 2021. Analysts have a consensus price target of $17.07.
Plains All American Pipeline L.P. (PAA) stock drop by -1.13% to $8.76. Plains All American Pipeline L.P. (PAA) and Plains GP Holdings reported on December 2, 2020, transfer of stock exchange listings to Nasdaq. The most recent rating by Morgan Stanley, on September 25, 2020, is at an Overweight.
Baker Hughes Company (NYSE:BKR) Shares headed falling, lower as much as -1.95%. On December 8. 2020, Aramco and Baker Hughes announced the commencement of construction on non-metallics joint venture in Saudi Arabia. The most recent rating by HSBC Securities, on December 10, 2020, is at a Hold.
EnLink Midstream LLC (NYSE:ENLC) fall -6.50% after losing more than -$0.26 on Friday.
Antero Midstream Corporation (AM) last closed at $8.42, in a 52-week range of $1.69 to $8.43. Analysts have a consensus price target of $6.45.
TechnipFMC plc (FTI) stock drop by -3.59% to $9.67. The most recent rating by HSBC Securities, on December 10, 2020, is at a Hold.
Amplify Energy Corp. (NYSE:AMPY) Shares headed falling, lower as much as -20.67% after declaration of pricing of secondary public offering of common stock for selling stockholders. The most recent rating by ROTH Capital, on November 22, 2019, is at a Buy.
National Oilwell Varco Inc. (NYSE:NOV) fall -2.32% after losing more than -$0.34 on Friday.
Equinor ASA (EQNR) last closed at $16.87, in a 52-week range of $8.41 to $21.04. On behalf of Equinor, DNB has on 10 December 2020 purchased 734,253 shares for use in the group’s Share saving plan. Analysts have a consensus price target of $19.26.
Ovintiv Inc. (OVV) stock soar by 0.92% to $15.38. The firm on November 19, 2020, declared that Meg A. Gentle has been named as an independent member of its board of directors, effective December 16, 2020. The most recent rating by CIBC, on October 26, 2020, is at a Sector underperform.