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Sept. 16, 2019, 6:07 a.m. EDT

Here are oil plays Citi says will show biggest reaction to surge in crude

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By Steve Goldstein

In an analyst note, Citi identified the companies it says will have the biggest reaction to the rise in crude oil prices /zigman2/quotes/211629951/delayed CL.1 +5.22% following the attacks in Saudi Arabia over the weekend. Small- and mid-cap oil explorers and producers that are heavily shorted or where positioning is negative include Extraction Oil & Gas /zigman2/quotes/204646477/composite XOG +8.62% , Whiting Petroleum Corp. /zigman2/quotes/204602363/composite WLL +1.35% , Callon Petroleum Co /zigman2/quotes/201917664/composite CPE +2.90% and Carrizo Oil & Gas . Heavily shorted land drillers, pumpers and sand/logistic companies could be active including RPC /zigman2/quotes/201485709/composite RES +9.68% , U.S. Silica Holdings /zigman2/quotes/206361964/composite SLCA +3.73% , Solaris Oilfield Infrastructure /zigman2/quotes/202245479/composite SOI +7.18% and Patterson-UTI Energy /zigman2/quotes/204120302/composite PTEN +11.54% . Oasis Petroleum /zigman2/quotes/207530975/composite OAS +4.58% is a stock with sensitivity to financial leverage along with Whiting Petroleum and Carrizo Oil & Gas, and heavily shorted offshore drillers Transocean /zigman2/quotes/208905612/composite RIG +7.56% , Valaris /zigman2/quotes/207330259/composite VAL +7.84% , Diamond Offshore Drilling /zigman2/quotes/210455719/composite DO +20.59% and Noble Corp /zigman2/quotes/207690683/composite NE +18.18% "are likely to experience a large short cover bounce given elevated short interest ratios, but long cycle offshore activity should see less of an impact unless the outages/geopolitical risk premium sustains for an extended period while structural oversupply likely remains," the broker said.

/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 26.40
+1.31 +5.22%
Volume: 81,825
April 9, 2020 4:12a
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/zigman2/quotes/204646477/composite
US : U.S.: Nasdaq
$ 0.40
+0.03 +8.62%
Volume: 2.27M
April 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$55.02 million
Rev. per Employee
$3.80M
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/zigman2/quotes/204602363/composite
US : U.S.: NYSE
$ 0.36
+0.0048 +1.35%
Volume: 14.62M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$33.04 million
Rev. per Employee
$2.76M
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/zigman2/quotes/201917664/composite
US : U.S.: NYSE
$ 0.49
+0.01 +2.90%
Volume: 31.25M
April 8, 2020 6:30p
P/E Ratio
1.95
Dividend Yield
N/A
Market Cap
$194.10 million
Rev. per Employee
$2.70M
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/zigman2/quotes/201485709/composite
US : U.S.: NYSE
$ 2.38
+0.21 +9.68%
Volume: 2.41M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$510.35 million
Rev. per Employee
$478,057
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/zigman2/quotes/206361964/composite
US : U.S.: NYSE
$ 1.39
+0.05 +3.73%
Volume: 2.61M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
5.76%
Market Cap
$102.52 million
Rev. per Employee
$560,917
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/zigman2/quotes/202245479/composite
US : U.S.: NYSE
$ 5.67
+0.38 +7.18%
Volume: 669,906
April 8, 2020 6:30p
P/E Ratio
3.36
Dividend Yield
7.41%
Market Cap
$171.34 million
Rev. per Employee
$516,220
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/zigman2/quotes/204120302/composite
US : U.S.: Nasdaq
$ 2.32
+0.24 +11.54%
Volume: 5.64M
April 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
6.90%
Market Cap
$445.79 million
Rev. per Employee
$415,875
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/zigman2/quotes/207530975/composite
US : U.S.: Nasdaq
$ 0.32
+0.01 +4.58%
Volume: 25.37M
April 8, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$103.59 million
Rev. per Employee
$3.19M
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/zigman2/quotes/208905612/composite
US : U.S.: NYSE
$ 1.28
+0.09 +7.56%
Volume: 21.71M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$786.60 million
Rev. per Employee
$448,507
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/zigman2/quotes/207330259/composite
US : U.S.: NYSE
$ 0.44
+0.03 +7.84%
Volume: 8.07M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$86.82 million
Rev. per Employee
$387,591
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/zigman2/quotes/210455719/composite
US : U.S.: NYSE
$ 1.64
+0.28 +20.59%
Volume: 5.91M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$226.23 million
Rev. per Employee
$470,963
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/zigman2/quotes/207690683/composite
US : U.S.: NYSE
$ 0.26
+0.04 +18.18%
Volume: 4.17M
April 8, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$65.25 million
Rev. per Employee
$541,413
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