Top Shale Oil Stocks To Report As Another Blockbuster Permian Deal Looms


Pioneer Natural Resources (PXD), Diamondback Energy (FANG) and Continental Resources (CLR) will report second-quarter earnings late Monday to start a busy week for shale oil shares.




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The studies come as Royal Dutch Shell (RDSA) seems to be to sell Permian Basin assets worth up to $10 billion with Chevron (CVX), ConocoPhillips (COP) and Devon Energy (DVN) among the many potential patrons, in accordance with Bloomberg.

A deal for Shell’s Permian belongings may very well be the largest since ConocoPhillips purchased Concho Resources for $9.7 billion in January to turn out to be one of many greatest Permian producers and the largest U.S. independent oil company.

Pioneer Natural Resources

Estimates: Analysts see EPS of $2.62 vs. a lack of 32 cents per share a yr in the past, as income jumps 310% to $3.52 billion.

Results: Check again after the shut.

Stock: Shares reversed decrease to fall 1.1% on the stock market today as oil costs dropped, remaining beneath the 50-day line, in accordance with MarketSmith chart analysis.

Pioneer has emerged as a serious participant within the Permian. In May, the corporate closed its deal to purchase DoublePoint Energy for $6.Four billion for almost 100,000 acres within the core space of the basin. That adopted a deal to buy Parsley Energy in an all-stock transaction valued at about $4.5 billion that closed early this yr.

Diamondback Energy

Estimates: EPS to soar 1,400% to $2.25 as income jumps 218% to $1.35 billion.

Results: Check again later.

Stock: Shares rose pared features to 0.4% Monday

Diamond additionally added to its Permian holdings earlier this yr with the acquisitions of QEP Resources and acreage from Guidon Operating.

Continental Resources

Estimates: Continental is seen swinging to a revenue of 57 cents per share from a 71 cent per-share loss within the year-ago quarter. Revenue is seen hovering 537% to $1.12 billion.

Results: Check again later.

Stock: Shares additionally turned decrease, dipping 0.3% and persevering with to hit resistance on the 50-day line.

Unlike different shale oil shares, Continental focuses on the Bakken shale formation in North Dakota, not the Permian Basin.

Occidental Petroleum (OXY) and ConocoPhillips report early Tuesday. EOG Resources (EOG) studies late Wednesday.

While earnings at shale oil shares have returned since final yr, when crude costs collapsed through the early days of the pandemic, the main focus has shifted as to whether producers will proceed to keep up capital self-discipline and never ramp up drilling aggressively.

Follow Gillian Rich on Twitter for power information and extra.

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