Bulletin
Investor Alert

Market Pulse Archives

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

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Crude Oil WTI (NYM $/bbl) Front Month (CL.1)
  • X
    Whiting Petroleum Corp. (WLL)

or Cancel Already have a watchlist? Log In

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 -0.81% 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 , Whiting Petroleum Corp. /zigman2/quotes/204602363/composite WLL -2.54% , Callon Petroleum Co /zigman2/quotes/201917664/composite CPE +2.61% and Carrizo Oil & Gas . Heavily shorted land drillers, pumpers and sand/logistic companies could be active including RPC /zigman2/quotes/201485709/composite RES +0.68% , U.S. Silica Holdings /zigman2/quotes/206361964/composite SLCA +1.21% , Solaris Oilfield Infrastructure /zigman2/quotes/202245479/composite SOI -0.97% and Patterson-UTI Energy /zigman2/quotes/204120302/composite PTEN +3.23% . Oasis Petroleum /zigman2/quotes/207530975/composite OAS -2.85% 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 0.00% , Valaris /zigman2/quotes/207330259/composite VAL -4.77% , Diamond Offshore Drilling and Noble Corp /zigman2/quotes/207690683/composite NE -0.63% "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
$ 40.32
-0.33 -0.81%
Volume: 81,901
July 3, 2020 12:59p
loading...
/zigman2/quotes/204602363/composite
US : U.S.: NYSE
$ 1.15
-0.03 -2.54%
Volume: 5.55M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$105.12 million
Rev. per Employee
$2.76M
loading...
/zigman2/quotes/201917664/composite
US : U.S.: NYSE
$ 1.18
+0.03 +2.61%
Volume: 16.58M
July 2, 2020 4:00p
P/E Ratio
1.32
Dividend Yield
N/A
Market Cap
$468.46 million
Rev. per Employee
$2.70M
loading...
/zigman2/quotes/201485709/composite
US : U.S.: NYSE
$ 2.97
+0.02 +0.68%
Volume: 419,782
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$639.32 million
Rev. per Employee
$478,057
loading...
/zigman2/quotes/206361964/composite
US : U.S.: NYSE
$ 3.35
+0.04 +1.21%
Volume: 1.29M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$247.25 million
Rev. per Employee
$560,917
loading...
/zigman2/quotes/202245479/composite
US : U.S.: NYSE
$ 7.12
-0.07 -0.97%
Volume: 258,552
July 2, 2020 4:00p
P/E Ratio
11.73
Dividend Yield
5.90%
Market Cap
$322.42 million
Rev. per Employee
$516,220
loading...
/zigman2/quotes/204120302/composite
US : U.S.: Nasdaq
$ 3.36
+0.11 +3.23%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
2.38%
Market Cap
$626.65 million
Rev. per Employee
$415,875
loading...
/zigman2/quotes/207530975/composite
US : U.S.: Nasdaq
$ 0.75
-0.02 -2.85%
Volume: 0.00
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$243.42 million
Rev. per Employee
$3.19M
loading...
/zigman2/quotes/208905612/composite
US : U.S.: NYSE
$ 1.84
0.00 0.00%
Volume: 15.65M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.13 billion
Rev. per Employee
$448,507
loading...
/zigman2/quotes/207330259/composite
US : U.S.: NYSE
$ 0.64
-0.03 -4.77%
Volume: 7.26M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$69.47 million
Rev. per Employee
$387,591
loading...
/zigman2/quotes/207690683/composite
US : U.S.: NYSE
$ 0.30
-0.0019 -0.63%
Volume: 6.44M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$75.14 million
Rev. per Employee
$541,413
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.