Shares of Comstock Resources (NYSE:CRK), Encana Corp. (NYSE:ECA), Petrobras (NYSE:PBR), Exxon Mobil (NYSE:XOM) and Conoco (NYSE:COP) traded mixed on Thursday as oil and gas were down on the day.
After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.
Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.
June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.
Petrobras (PBR) closed Thursday at $33.69, falling $0.57, or 1.66 percent.
Showing posts with label Comstock Resources. Show all posts
Showing posts with label Comstock Resources. Show all posts
Friday, May 20, 2011
Thursday, May 19, 2011
Price Targets (CMRE) (EBAY) (EPD) (ESIO) (EXAM) Updated
Analysts updated price targets on Comstock Resources (NASDAQ: CMRE), eBay, Inc. (NASDAQ: EBAY), Enterprise Products Partners (NYSE: EPD), Electro Scientific Industries, Inc. (NASDAQ: ESIO) and Examworks Group, Inc. (NASDAQ: EXAM).
Dahlman Rose raised their price target on Comstock Resources (CMRE) from $20.00 to $24.00. They have a “buy” rating on the company.
UBS AG (NYSE:UBS) raised their price target on eBay, Inc. (EBAY) from $2.30 to $42.00. They have a “buy” rating on the company.
RBC Capital raised their price target on Enterprise Products Partners (EPD) from $48.00 to $50.00. They have an “outperform” rating on the company.
Needham & Company raised their price target on Electro Scientific Industries, Inc. (ESIO) from $19.00 to $25.00. They have a “buy” rating on the company.
Needham & Company raised their price target on Examworks Group, Inc. (EXAM) from $27.00 to $30.00. They have a “buy” rating on the company.
Dahlman Rose raised their price target on Comstock Resources (CMRE) from $20.00 to $24.00. They have a “buy” rating on the company.
UBS AG (NYSE:UBS) raised their price target on eBay, Inc. (EBAY) from $2.30 to $42.00. They have a “buy” rating on the company.
RBC Capital raised their price target on Enterprise Products Partners (EPD) from $48.00 to $50.00. They have an “outperform” rating on the company.
Needham & Company raised their price target on Electro Scientific Industries, Inc. (ESIO) from $19.00 to $25.00. They have a “buy” rating on the company.
Needham & Company raised their price target on Examworks Group, Inc. (EXAM) from $27.00 to $30.00. They have a “buy” rating on the company.
Berry (BRY) (CPE) (CRZO) (CWEI) (CRK) Soar on Weak U.S. Dollar
Shares of oil companies Berry Petroleum (NYSE:BRY), Callon Petroleum (NYSE:CPE), Carrizo Oil & Gas (NASDAQ:CRZO), Clayton Williams Energy (NASDAQ:CWEI) and Comstock Resources (NYSE:CRK) were traded up Wednesday after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Retail gasoline prices continued to fall, dropping almost 2 cents on Wednesday for a national average of $3.926 a gallon. Gasoline demand continues to fall in wake of high prices at the pump.
Heating oil for June increased 6.08 cents to settle at $2.9059 a gallon and gasoline futures jumped 3.62 cents to settle at $2.9555 a gallon. Natural gas gained 2 cents at $4.266 per 1,000 cubic feet.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in oil prices going up, as well as other commodity prices as well.
The euro traded at $1.4233, strengthening after falling to $1.4193 and up slightly from its $1.4219 close on Tuesday.
Traders bought commodities, including oil, on the weaker greenback.
Berry Petroleum (BRY) closed Wednesday at $48.34, gaining $3.49, or 7.78 percent.
Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.
Retail gasoline prices continued to fall, dropping almost 2 cents on Wednesday for a national average of $3.926 a gallon. Gasoline demand continues to fall in wake of high prices at the pump.
Heating oil for June increased 6.08 cents to settle at $2.9059 a gallon and gasoline futures jumped 3.62 cents to settle at $2.9555 a gallon. Natural gas gained 2 cents at $4.266 per 1,000 cubic feet.
Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.
The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in oil prices going up, as well as other commodity prices as well.
The euro traded at $1.4233, strengthening after falling to $1.4193 and up slightly from its $1.4219 close on Tuesday.
Traders bought commodities, including oil, on the weaker greenback.
Berry Petroleum (BRY) closed Wednesday at $48.34, gaining $3.49, or 7.78 percent.
Tuesday, May 17, 2011
Comstock Resources (NYSE:CRK) Trades Down as Oil and Gas Prices Drop
Comstock Resources (NYSE:CRK) was under pressure as oil as gas prices fell Wednesday, dragging most of the oil and gas companies down with them.
Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.
Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.
The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.
Comstock Resources, Inc. participates in the acquisition, development, production, and exploration of oil and natural gas properties in the United States.
Comstock Resources (NYSE:CRK) closed Wednesday at $27.06, down $1.38, or 4.85 percent.
Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.
Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.
The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.
Comstock Resources, Inc. participates in the acquisition, development, production, and exploration of oil and natural gas properties in the United States.
Comstock Resources (NYSE:CRK) closed Wednesday at $27.06, down $1.38, or 4.85 percent.
Monday, May 16, 2011
Comstock (CRK) (KOG) (CHK) (EGY) Trade Mixed as Oil Prices Rebounded
Shares of Comstock Resources (NYSE:CRK), Kodiak Oil & Gas (Amex:KOG), Chesapeake Energy Corp. (NYSE:CHK) and Vaalco Energy (NYSE:EGY) traded mixed even as oil and gas prices closed Friday in positive territory.
On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.
For the week, front-month crude climbed $2.47, or 2.5 percent.
ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.
The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.
NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.
For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.
NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.
Front-month heating oil for last week was up 9.65 cents.
Chesapeake Energy Corp. (CHK) closed Friday at $29.78, dropping $0.70, or 2.30 percent.
On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.
For the week, front-month crude climbed $2.47, or 2.5 percent.
ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.
The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.
NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.
For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.
NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.
Front-month heating oil for last week was up 9.65 cents.
Chesapeake Energy Corp. (CHK) closed Friday at $29.78, dropping $0.70, or 2.30 percent.
Tuesday, May 10, 2011
BP (BP) (ROSE) (CRK) (NOG) (HES) Stronger on Rising Oil Prices
Most oil and related companies performed strong Monday, as BP (NYSE:BP), Rosetta Resources (NASDAQ:ROSE), Comstock Resources (NYSE:CRK), Northern Oil and Gas (Amex:NOG) and Hess Corporation (NYSE:HES) were strengthened by the increase in oil prices after a prior down week.
Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.
Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.
Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.
The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.
Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.
Rosetta Resources (ROSE) closed Monday at $49.48, soaring $8.38, or 20.39 percent.
Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.
Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.
Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.
The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.
Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.
Rosetta Resources (ROSE) closed Monday at $49.48, soaring $8.38, or 20.39 percent.
Monday, May 9, 2011
Shares of (HES) (CRK) (UPL) (WTI) (OIS) Trade Mixed as Oil Closed Down 15% Last Week
Companies exposed to oil and the industry traded mixed to end the week, as oil prices plummeted 15 percent last week, taking Hess Corporation (NYSE:HES), Comstock Resources (NYSE:CRK), Ultra Petroleum (NYSE:UPL), W&T Offshore (NYSE:WTI), Oil States Intl., Inc. (NYSE:OIS), and others, down with it.
Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.
For the week, the June oil futures contract fell 14.7 percent to $113.93.
Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.
In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.
Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.
According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.
All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.
In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.
Hess Corporation (HES) closed Friday at $77.47, gaining $0.95, or 1.24 percent.
Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.
For the week, the June oil futures contract fell 14.7 percent to $113.93.
Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.
In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.
Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.
According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.
All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.
In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.
Hess Corporation (HES) closed Friday at $77.47, gaining $0.95, or 1.24 percent.
Friday, May 6, 2011
Hess (HES) (PBR) (CRK) (CXPO) Pressured as Oil Falls
Shares of oil and oil-related companies Hess Corporation (NYSE:HES), Petrobras (NYSE:PBR), Comstock Resources (NYSE:CRK) and Crimson Exploration (NASDAQ:CXPO) were pressured Thursday as crude for June delivery dropped below the $100 a barrel mark.
Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.
Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.
Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.
Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.
The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.
Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.
Hess Corporation (HES) closed Thursday at $76.52, down $0.91, or 1.18 percent.
Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.
Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.
Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.
Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.
The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.
Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.
Hess Corporation (HES) closed Thursday at $76.52, down $0.91, or 1.18 percent.
Thursday, May 5, 2011
Ratings on (BJRI) (CBEY) (CE) (CRK) (CSII) Upgraded by Analysts
Analysts upgraded ratings on BJ’s Restaurants, Inc. (NASDAQ: BJRI), Cbeyond (NASDAQ: CBEY), Celanese Co. (NYSE: CE), Comstock Resources Inc (NYSE: CRK) and Cardiovascular Systems, Inc. (NASDAQ: CSII) today.
Piper Jaffray (NYSE:PJC) upgraded BJ’s Restaurants, Inc. (BJRI) from a “neutral” rating to an “overweight” rating.
Raymond James (NYSE:RJF) upgraded Cbeyond (CBEY) from an “underperform” rating to a “market perform” rating.
Goldman Sachs (NYSE:GS) upgraded Celanese Co. (CE) from a “neutral” rating to a “buy” rating. They have a price target of $62.00 on the company.
Canaccord Genuity upgraded Comstock Resources Inc (CRK) from a “hold” rating to a “buy” rating. They have a price target of $40.00 on the company, up from $31.00.
Feltl & Co. upgraded Cardiovascular Systems, Inc. (CSII) to a “strong buy” rating. They have a price target of $14.00 on the company.
Piper Jaffray (NYSE:PJC) upgraded BJ’s Restaurants, Inc. (BJRI) from a “neutral” rating to an “overweight” rating.
Raymond James (NYSE:RJF) upgraded Cbeyond (CBEY) from an “underperform” rating to a “market perform” rating.
Goldman Sachs (NYSE:GS) upgraded Celanese Co. (CE) from a “neutral” rating to a “buy” rating. They have a price target of $62.00 on the company.
Canaccord Genuity upgraded Comstock Resources Inc (CRK) from a “hold” rating to a “buy” rating. They have a price target of $40.00 on the company, up from $31.00.
Feltl & Co. upgraded Cardiovascular Systems, Inc. (CSII) to a “strong buy” rating. They have a price target of $14.00 on the company.
Shell (RDS-A) (CRK) (PQ) (CXPO) (EPM) Trade Down on Slowing Oil Demand
Oil companies and other industry-related companies Royal Dutch Shell (NYSE:RDS-A), Comstock Resources (NYSE:CRK), PetroQuest Energy (NYSE:PQ), Crimson Exploration (NASDAQ:CXPO) and Evolution Petroleum (Amex:EPM) all closed down Wednesday as oil prices took a breather.
Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.
In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.
The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.
Crimson Exploration (CXPO) closed Wednesday at $3.57, falling $0.19, or 5.05 percent.
Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.
In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.
The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.
Crimson Exploration (CXPO) closed Wednesday at $3.57, falling $0.19, or 5.05 percent.
Wednesday, May 4, 2011
Ratings on (CEDC) (CHK) (CRK) (DKS) (FE) Upgraded by Analysts
Analysts upgraded ratings on Central European Distribution Corp (NASDAQ: CEDC), Chesapeake Energy (NYSE: CHK), Comstock Resources Inc (NYSE: CRK), Dick’s Sporting Goods (NYSE: DKS) and FirstEnergy Corp. (NYSE: FE) today.
Credit Suisse (NYSE:CS) upgraded Central European Distribution Corp (CEDC) from an “underperform” rating to a “neutral” rating.
Howard Weil upgraded Chesapeake Energy (CHK) from a “market perform” rating to an “outperform” rating. They have a price target of $39.00 on the company, up from $34.00.
Global Hunter Securities upgraded Comstock Resources Inc (CRK) from an “accumulate” rating to a “buy” rating. They have a price target of $40.00 on the company, up from $35.00.
Oppenheimer upgraded Dick’s Sporting Goods (DKS) from a “perform” rating to an “outperform” rating. They have a price target of $50.00 on the company.
Soleil Securities upgraded FirstEnergy Corp. (FE) from a “hold” rating to a “buy” rating.
Credit Suisse (NYSE:CS) upgraded Central European Distribution Corp (CEDC) from an “underperform” rating to a “neutral” rating.
Howard Weil upgraded Chesapeake Energy (CHK) from a “market perform” rating to an “outperform” rating. They have a price target of $39.00 on the company, up from $34.00.
Global Hunter Securities upgraded Comstock Resources Inc (CRK) from an “accumulate” rating to a “buy” rating. They have a price target of $40.00 on the company, up from $35.00.
Oppenheimer upgraded Dick’s Sporting Goods (DKS) from a “perform” rating to an “outperform” rating. They have a price target of $50.00 on the company.
Soleil Securities upgraded FirstEnergy Corp. (FE) from a “hold” rating to a “buy” rating.
Pressure Hits (XOM) (CRK) (CXPO) (BPL) (BHI) as Oil Demand Falls
Falling demand for fuel has pushed down oil inventories and the price of oil, putting pressure on Exxon Mobil (NYSE:XOM), Comstock Resources (NYSE:CRK), Crimson Exploration (NASDAQ:CXPO), Buckeye Partners L.P. (NYSE:BPL) and Baker Hughes Incorporated (NYSE:BHI).
Light, sweet crude for June delivery settled down $2.47, or 2.2%, at $111.05 a barrel on the New York Mercantile Exchange. London Brent crude for June fell $2.67 to settle at $122.45 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled down $1.85 cents, or 0.6%, at $3.3294 a gallon. June heating oil lost 6.13 cents, or 1.9%, to settle at $3.1908 a gallon.
Gasoline prices on average across America have jumped to just under $4.00 a gallon, rising to $3.97 a gallon for regular gas, according to AAA.
Silver is considered the key catalyst for downward pressure on oil prices and trading, as it has become a proxy to some for risk appetite among commodity traders.
After selling out of silver commodity traders followed up with divesting of positions in oil as well.
Even so, it appears the slight strengthening of the U.S dollar played a bit role Tuesday as well.
Exxon Mobil (XOM) closed Tuesday at $85.62, falling $1.35, or 1.55 percent.
Light, sweet crude for June delivery settled down $2.47, or 2.2%, at $111.05 a barrel on the New York Mercantile Exchange. London Brent crude for June fell $2.67 to settle at $122.45 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled down $1.85 cents, or 0.6%, at $3.3294 a gallon. June heating oil lost 6.13 cents, or 1.9%, to settle at $3.1908 a gallon.
Gasoline prices on average across America have jumped to just under $4.00 a gallon, rising to $3.97 a gallon for regular gas, according to AAA.
Silver is considered the key catalyst for downward pressure on oil prices and trading, as it has become a proxy to some for risk appetite among commodity traders.
After selling out of silver commodity traders followed up with divesting of positions in oil as well.
Even so, it appears the slight strengthening of the U.S dollar played a bit role Tuesday as well.
Exxon Mobil (XOM) closed Tuesday at $85.62, falling $1.35, or 1.55 percent.
Tuesday, May 3, 2011
Price Targets on (CPO) (CRK) (DE) (DISH) (DNDN) Updated
Price targets on Corn Products International, Inc. (NYSE: CPO), Comstock Resources Inc (NYSE: CRK), Deere & Company (NYSE: DE), DISH (NASDAQ: DISH) and Dendreon Co. (NASDAQ: DNDN) were updated today by analysts.
Citigroup (NYSE:C) raised their price target on Corn Products International, Inc. (CPO) from $60.00 to $70.00. They have a “buy” rating on the company.
Howard Weil raised their price target on Comstock Resources Inc (CRK) from $31.00 to $37.00. They have an “outperform” rating on the company.
Goldman Sachs (NYSE:GS) raised their price target on Deere & Company (DE) to $109.00. They have a “neutral” rating on the company.
RBC Capital raised their price target on DISH (DISH) from $30.00 to $35.00. They have an “outperform” rating on the company.
Brean Murray cut their price target on Dendreon Co. (DNDN) from $65.00 to $60.00. They have a “buy” rating on the company.
Citigroup (NYSE:C) raised their price target on Corn Products International, Inc. (CPO) from $60.00 to $70.00. They have a “buy” rating on the company.
Howard Weil raised their price target on Comstock Resources Inc (CRK) from $31.00 to $37.00. They have an “outperform” rating on the company.
Goldman Sachs (NYSE:GS) raised their price target on Deere & Company (DE) to $109.00. They have a “neutral” rating on the company.
RBC Capital raised their price target on DISH (DISH) from $30.00 to $35.00. They have an “outperform” rating on the company.
Brean Murray cut their price target on Dendreon Co. (DNDN) from $65.00 to $60.00. They have a “buy” rating on the company.
Hess (HES) (EPD) (EPM) (RRC) (CRK) Trade Down on Volatile Energy Day
Shares of Enterprise Products Partners (NYSE:EPD), Evolution Petroleum (Amex:EPM), Range Resources (NYSE:RRC), Comstock Resources (NYSE:CRK) and Hess Corporation (NYSE:HES) closed down on the uncertainty following the death of Osama bin Laden.
Crude futures settled lower Monday after the death of Osama bin Laden stirred up oil markets, as traders attempted to measure the impact of the event on the stability in the Middle East.
Light, sweet crude for June delivery settled 41 cents, or 0.4%, lower at $113.52 a barrel on the New York Mercantile Exchange, in a volatile session that saw both two-and-a-half year highs near $115 a barrel and a decline to $110.82 a barrel.
Brent crude on the ICE futures exchange closed 77 cents lower at $125.12 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled 5.05 cents, or 1.5 percent down at $3.3479 a gallon. June heating oil settled 2.37 cents, or 0.7 percent lower at $3.2521 a gallon.
Hess Corporation closed Monday at $83.56, dropping $2.40, or 2.79 percent.
Crude futures settled lower Monday after the death of Osama bin Laden stirred up oil markets, as traders attempted to measure the impact of the event on the stability in the Middle East.
Light, sweet crude for June delivery settled 41 cents, or 0.4%, lower at $113.52 a barrel on the New York Mercantile Exchange, in a volatile session that saw both two-and-a-half year highs near $115 a barrel and a decline to $110.82 a barrel.
Brent crude on the ICE futures exchange closed 77 cents lower at $125.12 a barrel.
Front-month June reformulated gasoline blendstock, or RBOB, settled 5.05 cents, or 1.5 percent down at $3.3479 a gallon. June heating oil settled 2.37 cents, or 0.7 percent lower at $3.2521 a gallon.
Hess Corporation closed Monday at $83.56, dropping $2.40, or 2.79 percent.
Monday, May 2, 2011
Exxon (XOM) (HK) (CRK) (SWN) (FTK) Trade Up on Gas, Oil Price Jumps
Petrohawk Energy Corp. (NYSE:HK), Comstock Resources (NYSE:CRK), Southwestern Energy (NYSE:SWN), Flotek Industries, Inc. (NYSE:FTK) and Exxon Mobil (NYSE:XOM) close up Friday as oil and gasoline prices jump again.
Nymex light, sweet crude oil for June delivery rose $1.07 a barrel, to $113.93 a barrel. That's the highest close in two-a-half-years.
On Nymex, reformulated gasoline blendstock futures for May delivery expired at $3.4648 a gallon, up 3.5 cents Friday. That is the highest level since July 14, 2008. Prices have soared 23.17 cents, or 7.2 percent, over the past week.
AAA Daily Fuel Gauge Report said the nationwide average price of regular gasoline was $3.909 a gallon Friday, up 6.1 cents from last week.
May heating oil expired at $3.2558 a gallon, up 2.42 cents, and the highest since April 8.
Tightening inventory and higher gasoline prices continue to push oil prices up. Another major factor, as it is with most commodities, is the ongoing collapse of the U.S. dollar. That will continue based on Federal Reserve chairman Ben Bernanke's comments he's not going to raise interest rates.
Exxon closed Friday at $87.98, up $0.64, or 0.73 percent.
Nymex light, sweet crude oil for June delivery rose $1.07 a barrel, to $113.93 a barrel. That's the highest close in two-a-half-years.
On Nymex, reformulated gasoline blendstock futures for May delivery expired at $3.4648 a gallon, up 3.5 cents Friday. That is the highest level since July 14, 2008. Prices have soared 23.17 cents, or 7.2 percent, over the past week.
AAA Daily Fuel Gauge Report said the nationwide average price of regular gasoline was $3.909 a gallon Friday, up 6.1 cents from last week.
May heating oil expired at $3.2558 a gallon, up 2.42 cents, and the highest since April 8.
Tightening inventory and higher gasoline prices continue to push oil prices up. Another major factor, as it is with most commodities, is the ongoing collapse of the U.S. dollar. That will continue based on Federal Reserve chairman Ben Bernanke's comments he's not going to raise interest rates.
Exxon closed Friday at $87.98, up $0.64, or 0.73 percent.
Friday, April 29, 2011
Transocean (RIG) (CRK) (CXPO) (BPL) (OIS) Close Mixed as Oil, Gas Rise
Comstock Resources (NYSE:CRK), Crimson Exploration (NASDAQ::CXPO), Buckeye Partners L.P. (NYSE:BPL), Oil States Intl., Inc. (NYSE:OIS) and Transocean (NYSE:RIG) closed mixed as oil, gasoline and natural gas moved up in price Thursday.
Oil settled higher in volatile trading Thursday, pushed up by a collapsing U.S. dollar. After soaring to close to $114 a barrel, West Texas Intermediate crude settled up 10 cents, at $112.86, in futures trading in New York.
Brent North Sea crude oil fell 11 cents to settle at $125.02 a barrel on the Ice Futures exchange.
In futures trading on the New York Mercantile Exchange, natural gas climbed 15.7 cents to settle at $4.63 per million British thermal units.
Gasoline for May delivery jumped 1.04 cents, or 0.3 percent, to $3.4298 a gallon, the highest settlement since July 14, 2008. Futures have risen 47 percent in the past year.
The Dollar Index fell to the lowest level since July 31, 2008. The index was down 0.5 percent to 73.139, its eighth straight daily decline.
Oil settled higher in volatile trading Thursday, pushed up by a collapsing U.S. dollar. After soaring to close to $114 a barrel, West Texas Intermediate crude settled up 10 cents, at $112.86, in futures trading in New York.
Brent North Sea crude oil fell 11 cents to settle at $125.02 a barrel on the Ice Futures exchange.
In futures trading on the New York Mercantile Exchange, natural gas climbed 15.7 cents to settle at $4.63 per million British thermal units.
Gasoline for May delivery jumped 1.04 cents, or 0.3 percent, to $3.4298 a gallon, the highest settlement since July 14, 2008. Futures have risen 47 percent in the past year.
The Dollar Index fell to the lowest level since July 31, 2008. The index was down 0.5 percent to 73.139, its eighth straight daily decline.
Wednesday, April 27, 2011
Rosetta (ROSE) (CRK) (HK) (CAM) Close Mixed as Oil Settles at $112.21
Rosetta Resources (NASDAQ::ROSE), Comstock Resources (NYSE:CRK), Petrohawk Energy Corp. (NYSE:HK) and Cameron International (NYSE:CAM) closed mixed Tuesday as oil for June delivery fell below the $112.21 it settled at, as the American Petroleum Institute reported at 4:30 PM EDT that U.S. crude-oil stockpiles soared 4.91 million barrels to 361 million. Apache was the only company of the four trading in the black Tuesday.
Oil for June delivery settled at $112.21 a barrel on the New York Mercantile Exchange. Oil has risen 33 percent in the past year.
Prices dropped from the settlement after the American Petroleum Institute reported at 4:30 p.m. that U.S. crude-oil stockpiles soared 4.91 million barrels to 361 million. June oil was down 49 cents, or 0.4 percent, to $111.79 a barrel in electronic trading at 4:32 PM EDT.
Brent crude for June settlement on the London-based ICE Futures Europe exchange jumped 48 cents, or 0.4 percent, to $124.14 a barrel.
The dollar fell for a sixth day against the euro, equaling the longest losing streak since May 2009. Expectations are the Federal Reserve will continue to keep measures in to allegedly support the U.S. economy.
Gasoline rose more than 53 cents a gallon from January to March as unrest in Libya threatened its oil fields and helped push oil from $91 to $107 a barrel. The national average for gasoline is closing in on $3.90 a gallon. Diesel is at about $4.14.
Oil averaged $94.64 a barrel between January and March, compared with $78.89 in the same period last year.
Natural gas prices remain low compared with three years ago. It's currently trading at $4.38 per 1,000 cubic feet. In April 2008, natural gas contracts garnered over twice that.
Oil for June delivery settled at $112.21 a barrel on the New York Mercantile Exchange. Oil has risen 33 percent in the past year.
Prices dropped from the settlement after the American Petroleum Institute reported at 4:30 p.m. that U.S. crude-oil stockpiles soared 4.91 million barrels to 361 million. June oil was down 49 cents, or 0.4 percent, to $111.79 a barrel in electronic trading at 4:32 PM EDT.
Brent crude for June settlement on the London-based ICE Futures Europe exchange jumped 48 cents, or 0.4 percent, to $124.14 a barrel.
The dollar fell for a sixth day against the euro, equaling the longest losing streak since May 2009. Expectations are the Federal Reserve will continue to keep measures in to allegedly support the U.S. economy.
Gasoline rose more than 53 cents a gallon from January to March as unrest in Libya threatened its oil fields and helped push oil from $91 to $107 a barrel. The national average for gasoline is closing in on $3.90 a gallon. Diesel is at about $4.14.
Oil averaged $94.64 a barrel between January and March, compared with $78.89 in the same period last year.
Natural gas prices remain low compared with three years ago. It's currently trading at $4.38 per 1,000 cubic feet. In April 2008, natural gas contracts garnered over twice that.
Tuesday, April 26, 2011
Petrohawk (HK) (CRK) (RDS-A) (PBR) Close Mixed as Oil Prices Pull Back
Oil prices will probably keep climbing toward the highs of 2008 as growing demand isn't matched by additional supplies and the price jump has been slow to cut into consumption, as Comstock Resources (NYSE:CRK), Petrohawk Energy Corp. (NYSE:HK), Petrobras (NYSE:PBR) and Royal Dutch Shell (NYSE:RDS-A) closed mixed Monday, April 25.
The front-month Brent crude-oil futures contract, the London benchmark, pulled back from a 2½-year high of $127 a barrel on April 11, amid concerns that soaring prices are hurting demand. It settled at $123.66 a barrel on Monday, up 5.4 percent so far in April. The front-month June contract on the New York Mercantile Exchange pulled back one cent to $112.28, still up 5.2 percent this month and 23 percent in 2011.
Benchmark crude for June delivery dropped a penny to settle at $112.28 a barrel on the New York Mercantile Exchange. In London, Brent crude fell 33 cents to settle at $123.66 a barrel on the ICE Futures exchange.
In other Nymex trading, heating oil was down 1.73 cents to settle at $3.1989 a gallon and gasoline futures increased a little less than a penny to settle at $3.2785 a gallon. Natural gas dropped 2.3 cents to $4.389 per 1,000 cubic feet.
The front-month Brent crude-oil futures contract, the London benchmark, pulled back from a 2½-year high of $127 a barrel on April 11, amid concerns that soaring prices are hurting demand. It settled at $123.66 a barrel on Monday, up 5.4 percent so far in April. The front-month June contract on the New York Mercantile Exchange pulled back one cent to $112.28, still up 5.2 percent this month and 23 percent in 2011.
Benchmark crude for June delivery dropped a penny to settle at $112.28 a barrel on the New York Mercantile Exchange. In London, Brent crude fell 33 cents to settle at $123.66 a barrel on the ICE Futures exchange.
In other Nymex trading, heating oil was down 1.73 cents to settle at $3.1989 a gallon and gasoline futures increased a little less than a penny to settle at $3.2785 a gallon. Natural gas dropped 2.3 cents to $4.389 per 1,000 cubic feet.
Monday, April 25, 2011
Tesoro (TSO) (PQ) (CLR) (CRK) Close Mixed as Oil, Gas Continue to Rise
PetroQuest Energy (NYSE:PQ), Continental Resources (NYSE:CLR), Comstock Resources (NYSE:CRK) and Tesoro Corporation (NYSE:TSO) closed mixed Thursday as oil and gas prices continue to move up.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
Tesoro Corporation closed Thursday at $27.99, falling $0.07, or 0.25 percent. Comstock Resources ended the day at $29.01, up $0.21, or 0.73 percent. Continental Resources closed at $68.72, rising $0.93, or 1.37 percent. PetroQuest Energy closed the session at $8.27, dropping $0.15, or 1.78 percent.
Crude oil prices climbed above $112 a barrel on the New York Mercantile Exchange Friday while the U.S. dollar was up after three days of faltering.
The dollar index jumped 0.14 percent to 74.10, making up a little lost ground.
May delivery crude oil rose 80 cents in New York to $112.25 a barrel. Home heating oil fell 1.85 cents to $3.2174 a gallon. Reformulated blendstock gasoline was up 2.93 cents to $3.2777 a gallon.
Henry Hub natural gas prices gained 11.3 cents to $4.423 per million British thermal units.
According to the AAA, the national average price of unleaded gasoline rose to $3.848 a gallon Friday from Thursday's $3.84.
Tesoro Corporation closed Thursday at $27.99, falling $0.07, or 0.25 percent. Comstock Resources ended the day at $29.01, up $0.21, or 0.73 percent. Continental Resources closed at $68.72, rising $0.93, or 1.37 percent. PetroQuest Energy closed the session at $8.27, dropping $0.15, or 1.78 percent.
Thursday, April 21, 2011
Crimson (CXPO) (CRK) (PXP) (CWEI) Close Up as Oil Prices Explode
Shares of Comstock Resources (NYSE:CRK), Plains Exploration & Production (NYSE:PXP), Clayton Williams Energy (Nasdaq:CWEI) and Crimson Exploration (NASDAQ:CXPO) all closed up on Wednesday as oil prices surged in response to news oil inventories unexpectedly dropped.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Crimson Exploration closed Wednesday at $3.91, up $0.04, or 1.03 percent. Clayton Williams Energy closed at $94.18, gaining $2.01, or 2.18 percent. Plains Exploration & Production ended the trading session at $25.25, jumping $0.56, or 1.61 percent. Comstock Resources closed at $28.80, rising $0.45, or 1.59 percent.
Oil prices exploded on Wednesday to roar above the $111 a barrel mark, as the U.S. Energy Information Administration announced oil inventories fell by 2.3 million barrels for the week ending April 15.
On the New York Mercantile Exchange, May delivery for West Texas Intermediate crude rose $3.17 or 2.93 percent to reach $111.45 a barrel.
The weakness of the U.S. dollar helped boost a number of commodities, including oil, as the U.S. dollar index dropped 0.91 on Wednesday.
Home heating oil prices increased 6.29 cents to $3.2214 a gallon. Reformulated blendstock gasoline prices rose 4.42 cents to $3.2773 a gallon.
Henry Hub natural gas prices jumped 4.8 cents to $4.31 per million British thermal units.
The national average price of unleaded gasoline climbed to $3.837 a gallon Wednesday, up from Tuesday's $3.835, according to AAA.
Crimson Exploration closed Wednesday at $3.91, up $0.04, or 1.03 percent. Clayton Williams Energy closed at $94.18, gaining $2.01, or 2.18 percent. Plains Exploration & Production ended the trading session at $25.25, jumping $0.56, or 1.61 percent. Comstock Resources closed at $28.80, rising $0.45, or 1.59 percent.
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