|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||43.69 - 44.41|
|52 Week Range||29.79 - 46.54|
|PE Ratio (TTM)||59.33|
|Earnings Date||Jul 31, 2018|
|Forward Dividend & Yield||0.32 (0.71%)|
|1y Target Est||49.87|
For Q2 2018, Marathon Oil (MRO) expects total production of 395–415 Mboepd (thousand barrels of oil equivalent per day). On a year-over-year basis, the mid-point of its Q2 2018 production guidance is ~4% higher than Q2 2017 production of 389 Mboepd. Its Q2 2018 production guidance is even ~7% higher than 380 Mboepd in the first quarter.
Devon (DVN) completes the divestiture of its ownership interests in the midstream assets, and will utilize the proceeds to strengthen operation, and increase the value of its shareholders.
As of July 17, Reuters reported 33 analysts with recommendations on DVN. Of these, ~28% say “strong buy,” ~36% say “buy”, and ~36% say “hold” for DVN. There’s no “sell” or “strong sell” recommendation on the stock.
Devon Energy (DVN) beat consensus EPS estimates in Q2 2017 and Q3 2017 but missed consensus EPS estimate in Q4 2017 before meeting EPS estimates in Q1 2018. So, in the last four quarters, DVN beat consensus EPS estimates 50% of the time, missed consensus EPS estimates 25% of the time, and met consensus EPS estimates 25% of the time.
Wall Street analysts expect Devon Energy (DVN) to report a ~4% higher year-over-year operating cash flow of ~$842 million in Q2 2018, up from ~$810 million in Q2 2017. On a sequential basis, DVN’s estimated Q2 2018 operating cash flow is ~5% higher compared with its ~$804 million in Q1 2018. DVN’s higher estimated Q2 2018 operating cash flow could be attributed to higher crude oil prices in the same quarter.
On July 11, ConocoPhillips (COP) announced a dividend of $0.285 per share on its common stock. This dividend is expected to be payable on September 4 to stockholders of record at the close of business on July 23. This payment would apply to the third quarter.
Devon Energy Corp. (DVN) announced today it has completed the sale of its ownership interests in EnLink Midstream Partners, LP (ENLK) and EnLink Midstream, LLC (ENLC) for $3.125 billion to affiliates of Global Infrastructure Partners (GIP), a leading global, independent infrastructure fund manager. With the closing of this transaction, the financial results of EnLink Midstream will no longer be consolidated with Devon’s upstream business and historical results related to EnLink will be presented as discontinued operations in the company’s consolidated financial statements. Devon will provide pro forma financial statements for its upstream business in a separate Form 8-K filing in the near future.
For Q2 2018, Devon Energy (DVN) expects total production in a range of 524–549 Mboepd (thousand barrels of oil equivalent per day). On a year-over-year basis, the mid-point of Devon Energy’s Q2 2018 production guidance range is slightly higher than its Q2 2017 production of 536 Mboepd. But sequentially, Devon Energy’s Q2 2018 production guidance is ~1% lower than the first-quarter 544 Mboepd.
For Q2 2018, Wall Street analysts expect Devon Energy (DVN) to report revenues of ~$3.90 billion. On a year-over-year basis, DVN’s Q2 2018 revenues expectations are ~24% higher compared with its Q2 2017 revenues of ~$3.15 billion. Sequentially, Devon Energy’s Q2 2018 revenue expectations are ~2% higher compared with its Q1 2018 revenues of ~$3.81 billion.
Anadarko Petroleum (APC) stock has been on a significant uptrend this year due to the rally in crude oil prices (DBO). Anadarko Petroleum was also supported by strong first-quarter earnings. In the fourth quarter of 2017, Anadarko Petroleum’s EPS was positive for the first time since the first quarter of 2016.
Plains All American Pipeline (PAA) is an attractive pick and is likely to reward investors with better returns, courtesy of these four factors.
Hedge funds’ net bullish positions in US crude oil futures and options decreased 0.1% to 433,938 on July 3–10. However, the positions are near the highest level since April 17. The positions increased by 255,284 contracts or 143% YoY (year-over-year). Hedge funds’ net bullish positions in US crude oil futures and options suggests that they remain bullish towards oil prices.
Cabot Oil & Gas’s (COG) stock has seen weak performance this year compared to its oil-weighted peers. The natural gas–weighted stock has fallen ~5% year-over-year. Natural gas made up 97% of COG’s first-quarter production. Meanwhile, natural gas prices (UGAZ) have declined 7.29%.
In Q2 2018, analysts expect Encana’s (ECA) operating cash flow to rise ~93% YoY (year-over-year) to ~$422 million from ~$218 million, and by ~11% sequentially from ~$381 million. The rise is expected due to its production being forecast to increase during the quarter and higher crude oil prices.
Ferrellgas (FGP) expects the recently-acquired Diamond Propane to be accretive to earnings and enable business expansion in northern New York.
Anadarko Petroleum (APC) stock has risen significantly this year. The stock has risen 37.8% year-to-date and 73.14% on a YoY (year-over-year) basis. In comparison, the broader industry represented by the Energy Select Sector SPDR ETF (XLE) has increased ~20.48%, while the broader market S&P 500 SPDR ETF (SPY) has risen 15.07% during the same period.
Anadarko Petroleum (APC) utilizes free cash flow generation capacity to raise share repurchase and debt reduction programs by $1.5B.