As California reinforced its pandemic shutdown during Christmas and COVID-19 cases rose in the United States and Europe on Tuesday, counteracting hope emerging about vaccine developments, Oil pushed lower on Tuesday. Oil prices were buoyed briefly after Britain got the world’s first wholly tested COVID-19 vaccine injection, but investors soon returned to ebbing fuel demand from the pandemic.
Also, investors closely watched U.S. lawmakers’ attempts to pass a new economic reform program needed to sustain job growth and energy demand, and Friday was seen as a potential deadline to prevent a government shutdown.
There is a revived hope for a global economic rebound in 2021 on the reports of delivering vaccines in significant economies worldwide beginning in a few weeks. Usually, high trust in global economic recovery is considered to carry weakness in the U.S. dollar, which has dropped by about 12 percent against a basket of top currencies since it peaked in March of this year due to ‘flight to protection.’ It’s also supposed to bolster U.S. export demand.
Mammoth Energy Services Inc. (NASDAQ:TUSK) shares were trading up 57.14% at $3.19 at the time of writing on Tuesday after announcing that it has received and posted to its website additional information related to its work in Puerto Rico obtained from the Federal Emergency Management Agency (“FEMA”) through a Freedom of Information Act request.
Mammoth Energy Services Inc. (NASDAQ:TUSK) share price went from a low point around $0.56 to briefly over $2.70 in past 52 weeks, though shares have since pulled back to $3.19. TUSK market cap has remained high, hitting $146.61M.
If we look at the recent analyst rating TUSK, Barclays downgraded coverage on TUSK shares with an Equal weight rating and a $3.00 price target, which implies room for -0.19% downside momentum this year.
Clean Energy Fuels Corp. (CLNE) last closed at $4.75, in a 52-week range of $1.05 to $5.25. On November 6, 2020, the firm reported that revenue for the third quarter of 2020 was $70.9 million, a decrease of 4.8% compared to $74.4 million for the third quarter of 2019.
Callon Petroleum Company (CPE) stock soar by 12.14% to $14.69. The most recent rating by Wells Fargo, on September 25, 2020, is at an Underweight.
QEP Resources Inc. (NYSE:QEP) Shares headed rising, higher as much as 11.27%. The most recent rating by JP Morgan, on December 08, 2020, is at an Overweight.
SM Energy Company (NYSE:SM) rose 10.62% after gaining more than $0.51 on Tuesday.The firm on November 16, 2020 declaredreaffirmation of borrowing base and agreement for South Texas well completions.
Northern Oil and Gas Inc. (NOG) last closed at $8.64, in a 52-week range of $3.35 to $24.30. Analysts have a consensus price target of $12.38.
Laredo Petroleum Inc. (LPI) stock soar by 8.82% to $18.01. The most recent rating by Wells Fargo, on September 14, 2020, is at an Underweight.
Laredo Petroleum, Inc. (LPI)on November 20, 2020 reported the appointment of Jarvis Hollingsworth and Lori Lancaster to the Company’s Board of Directors.
Borr Drilling Limited (NYSE:BORR) Shares headed falling, lower as much as -7.55%. The company reported on November 30, 2020, total operating revenues of $59.2 million, net loss of $61.9 million and Adjusted EBITDA of $(10.1) million for the third quarter of 2020.
Torchlight Energy Resources Inc. (NASDAQ:TRCH) fall -15.85% after losing more than -$0.11 on Tuesday.
Recon Technology Ltd. (RCON) last closed at $1.44, in a 52-week range of $0.75 to $5.55.
Crescent Point Energy Corp. (CPG) stock soar by 6.98% to $2.30. The most recent rating by Scotiabank, on June 15, 2020, is at a Sector perform.
Crescent Point Energy Corp. (CPG)on December 3, 2020 declared its formal 2021 capital expenditures budget and production guidance.
Contango Oil & Gas Company (AMEX:MCF) Shares headed rising, higher as much as 6.83%. The company on November 30, 2020 declared the execution of an agreement with a select group of institutional and accredited investors to sell approximately 14.2 million shares of common stock in a private placement. The most recent rating by Seaport Global Securities, on September 07, 2018, is at a Neutral.
NGL Energy Partners LP (NYSE:NGL) rose 6.77% after gaining more than $0.17 on Tuesday.
Centennial Resource Development Inc. (CDEV) last closed at $1.58, in a 52-week range of $0.24 to $5.35. Analysts have a consensus price target of $1.10.
Gran Tierra Energy Inc. (GTE) stock soar by 25.38% to $0.38 after declaring a financial update and the Company’s 2021 capital budget and production guidance. The most recent rating by Peel Hunt, on August 06, 2020, is at a Buy.