[ACCESSWIRE]
LONDON, UK / ACCESSWIRE / July 14, 2016 / Active Wall St. announces the list of stocks for today's coverage. Pre-market the Active Wall St. team provides the latest corporate, market and technical events impacting selected stocks on the Oil & Gas Drilling & Exploration industry. Companies recently under review include Patterson-UTI Energy, Enerplus, RSP Permian, and Concho Resources. See our complete notes on Patterson-UTI Energy at:
http://www.activewallst.com/registration-3/?symbol=PTEN
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Higher oil prices last week drove operators in the Oil and Gas Drilling and Exploration industry to dispatch more oil rigs to the field. However, oil prices slipped 2% on Wednesday, July 13, 2016, following a report of a supply glut. Let us see how this is affecting some of the big names in the industry. Register with us now for your free membership and more at:
http://www.activewallst.com/register/
Active Wall St. takes a brief technical look at how each of the companies mentioned above have fared over the last few trading sessions.
Patterson-UTI Energy Inc. (NASDAQ: PTEN)
Houston, Texas headquartered Patterson-UTI Energy Inc.'s stock finished Wednesday's session 3.14% lower at $20.99 with a total volume of 3.59 million shares traded. The Company's shares have advanced 0.86% in the past month, 12.66% over the previous three months, and 40.09% since the start of this year. The stock is trading 7.91% above its 50-day moving average and 27.83% above its 200-day moving average. Additionally, shares of Patterson-UTI Energy, which through its subsidiaries, provide onshore contract drilling services to major and independent oil and natural gas operators in the U.S. and Canada, have a Relative Strength Index (RSI) of 54.17.
On July 11th, 2016, research firm Jefferies upgraded the Company's stock rating from 'Hold' to 'Buy'. The research firm also revised upwards its previous target price from $19 to $25.
On July 12th, 2016, PATTERSON-UTI ENERGY announced that it has amended its $500 million senior unsecured revolving credit agreement and extended the maturity date of $357.9 million in revolving credit commitments of certain lenders from September 27, 2017, to March 27, 2019. In addition, the Company has repaid the entire outstanding $230 million principal amount of its bank term loans, and has $70 million outstanding under the revolving credit facility.
Enerplus Corp. (NYSE: ERF)
On Wednesday, shares in Calgary, Canada headquartered Enerplus Corp. recorded a trading volume of 882,930 shares. The stock ended the session 2.41% lower at $6.47. The Company's shares have advanced 9.80% in the last one month, 33.97% in the previous three months, and 93.36% on an YTD basis. The stock is trading 12.00% above its 50-day moving average and 45.61% above its 200-day moving average. Moreover, shares of Enerplus, which together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the U.S. and Canada, have an RSI of 55.80.
On June 17th, 2016 Enerplus Corp announced a cash dividend of CDN$0.01 per share, payable on July 15th, 2016 to all shareholders of record at the close of business on June 28th, 2016. Signup for your note on ERF at:
http://www.activewallst.com/registration-3/?symbol=ERF
RSP Permian Inc. (NYSE: RSPP)
Shares in Dallas, Texas headquartered independent oil and natural gas company, RSP Permian Inc., closed the day 5.51% lower at $34.32. The stock recorded a trading volume of 2.36 million shares, which was higher than its three months average volume of 1.40 million shares. The Company's shares have gained 11.76% in the previous three months and 40.71% on an YTD basis. The stock is trading 2.60% above its 50-day moving average and 24.23% above its 200-day moving average. Additionally, shares of RSP Permian, which engages in the acquisition, exploration, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas, have an RSI of 49.94.
On July 13th, 2016, research firm Piper Jaffray resumed its 'Overweight' rating for the Company's stock. The research firm also revised upwards its previous target price from $38 to $40. Register for free and access your note on RSPP at:
http://www.activewallst.com/registration-3/?symbol=RSPP
Concho Resources Inc. (NYSE: CXO)
At the close, shares in Midland, Texas headquartered independent oil and natural gas company, Concho Resources Inc., ended at $121.04, which was a slight correction of 1.07%. The stock recorded a trading volume of 1.42 million shares, which was above its three months average volume of 1.32 million shares. The Company's shares have advanced 1.14% in the last one month, 12.83% in the previous three months, and 30.35% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 1.32% and 14.72%, respectively. Furthermore, shares of Concho Resources, which engages in the acquisition, development, exploration, and production of oil and natural gas properties in the U.S., have an RSI of 52.31.
Concho Resources will announce second quarter 2016 results on Tuesday, August 2nd, 2016 Concho Resources last announced its earnings results on May 4th, 2016. The company reported revenue of $283.56 million in Q1 FY16, while it also stated that production for Q1 FY16 was 12.7 million barrels of oil equivalent (mmboe), an increase of 6% from Q1 FY15.The note on CXO is available for free at:
http://www.activewallst.com/registration-3/?symbol=CXO
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SOURCE: Active Wall Street
