After shrugging off a significant rise in U.S. crude inventories on the hope that vaccination rollouts would contribute to a dramatic boost in global energy demand next year, oil climbed to $46 a barrel.
The Administration of Energy Information announced that American oil inventories had jumped 15.2 million barrels. Although prices fell on Wednesday, they followed much of their losses to close by only 0.2 % with support from a declined dollar.
Oil increased Thursday as Asia’s stocks went down Wall Street due to the lack of stimuli from the United States. In the meantime, Asian physical demand looked to be high for another month, when Chinese and Indian refiners bought it early.Key players of the Oil Sector are as follows.
Helmerich & Payne Inc. (NYSE:HP) shares were trading down -2.53% at $24.64 at the time of writing on Wednesday. On November 20, 2020, The company reported a net loss of $59 million, or $(0.55) per diluted share, from operating revenues of $208 million for the quarter ended September 30, 2020.
Helmerich & Payne Inc. (NYSE:HP) share price went from a low point around $12.40 to briefly over $47.33 in past 52 weeks, though shares have since pulled back to $24.64. HP market cap has remained high, hitting $2.56B at the time of writing, giving it price-to-sales ratio of more than 1.
If we look at the recent analyst rating HP, BofA Securities downgraded coverage on HP shares with an Underperform rating and a $20.07 price target, which implies room for -4.57% downside momentum this year.
Transocean Ltd. (RIG) last closed at $2.25, in a 52-week range of $0.65 to $7.28. Analysts have a consensus price target of $1.92. The firm declared on December 1, 2020, amendments to certain financing documents and internal reorganization transactions to resolve allegations contained in purported notices of default.
Patterson-UTI Energy Inc. (PTEN) stock drop by -3.09% to $5.18. The energy firm stated on December 3, 2020, that that for the month of November 2020, the Company had an average of 61 drilling rigs operating. The most recent rating by Scotiabank, on July 16, 2020, is at a Sector underperform.
Comstock Resources Inc. (NYSE:CRK) Shares headed falling, lower as much as -0.86%. The most recent rating by KeyBanc Capital Markets, on December 08, 2020, is at a Sector weight.
Pioneer Natural Resources Company (NYSE:PXD) rose 0.14% after gaining more than $0.16 on Wednesday. The firm reported on December 3, 2020, January 12, 2021 special meeting to approve merger with Pioneer Natural Resources.
Enerplus Corporation (ERF) last closed at $3.01, in a 52-week range of $1.15 to $7.35.
W&T Offshore Inc. (WTI) stock drop by -1.82% to $2.16 after the firm provided an operational update regarding fourth quarter 2020 production. The most recent rating by CapitalOne, on November 05, 2020, is at an Equal weight.
Antero Resources Corporation (NYSE:AR) Shares headed rising, higher as much as 1.86%. The most recent rating by JP Morgan, on December 08, 2020, is at an Overweight.
Occidental Petroleum Corporation (NYSE:OXY) rose 1.36% after gaining more than $0.26 on Wednesday following the announcement of upsize of previously declared cash tender offers and consent solicitations for certain of its senior notes.
Southwestern Energy Company (SWN) last closed at $3.02, in a 52-week range of $1.06 to $3.90. The company on November 13, 2020 revealed that it has completed the acquisition of Montage Resources following approval by Montage shareholders. Analysts have a consensus price target of $3.56.
PDC Energy Inc. (PDCE) stock drop by -2.26% to $18.41. The most recent rating by JP Morgan, on September 23, 2020, is at an Overweight.
EQT Corporation (NYSE:EQT) Shares headed rising, higher as much as 4.18%. The most recent rating by JP Morgan, on December 08, 2020, is at a Neutral.
Concho Resources Inc. (NYSE:CXO) fall -0.08% after losing more than -$0.05 on Wednesday.
WPX Energy Inc. (WPX) last closed at $8.03, in a 52-week range of $1.94 to $14.43. Analysts have a consensus price target of $8.48.
Canadian Natural Resources Limited (CNQ) stock drop by -0.90% to $24.31 after announcing 2021 budget. The most recent rating by CIBC, on October 26, 2020, is at a Sector outperform.
