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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 -0.30% 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 -9.05% , Whiting Petroleum Corp. /zigman2/quotes/204602363/composite WLL -2.82% , Callon Petroleum Co /zigman2/quotes/201917664/composite CPE -6.60% and Carrizo Oil & Gas /zigman2/quotes/201726329/composite CRZO -7.66% . Heavily shorted land drillers, pumpers and sand/logistic companies could be active including RPC /zigman2/quotes/201485709/composite RES +1.32% , U.S. Silica Holdings /zigman2/quotes/206361964/composite SLCA -3.05% , Solaris Oilfield Infrastructure /zigman2/quotes/202245479/composite SOI -2.31% and Patterson-UTI Energy /zigman2/quotes/204120302/composite PTEN +0.64% . Oasis Petroleum /zigman2/quotes/207530975/composite OAS -4.61% 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 -2.78% , Valaris /zigman2/quotes/207330259/composite VAL +0.57% , Diamond Offshore Drilling /zigman2/quotes/210455719/composite DO -1.28% and Noble Corp /zigman2/quotes/207690683/composite NE 0.00% "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
$ 53.62
-0.16 -0.30%
Volume: 2,247
Oct. 20, 2019 8:26p
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/zigman2/quotes/204646477/composite
US : U.S.: Nasdaq
$ 2.11
-0.21 -9.05%
Volume: 21.07M
Oct. 18, 2019 4:00p
P/E Ratio
4.79
Dividend Yield
N/A
Market Cap
$290.64 million
Rev. per Employee
$3.80M
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/zigman2/quotes/204602363/composite
US : U.S.: NYSE
$ 6.55
-0.19 -2.82%
Volume: 7.13M
Oct. 18, 2019 6:30p
P/E Ratio
2.40
Dividend Yield
N/A
Market Cap
$598.01 million
Rev. per Employee
$2.76M
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/zigman2/quotes/201917664/composite
US : U.S.: NYSE
$ 3.82
-0.27 -6.60%
Volume: 16.12M
Oct. 18, 2019 6:30p
P/E Ratio
3.92
Dividend Yield
N/A
Market Cap
$872.44 million
Rev. per Employee
$2.70M
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/zigman2/quotes/201726329/composite
US : U.S.: Nasdaq
$ 7.47
-0.62 -7.66%
Volume: 6.68M
Oct. 18, 2019 4:00p
P/E Ratio
1.19
Dividend Yield
N/A
Market Cap
$691.80 million
Rev. per Employee
$4.46M
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/zigman2/quotes/201485709/composite
US : U.S.: NYSE
$ 4.61
+0.06 +1.32%
Volume: 2.91M
Oct. 18, 2019 6:30p
P/E Ratio
14.46
Dividend Yield
4.34%
Market Cap
$989.21 million
Rev. per Employee
$478,057
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/zigman2/quotes/206361964/composite
US : U.S.: NYSE
$ 6.99
-0.22 -3.05%
Volume: 1.50M
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
3.58%
Market Cap
$514.32 million
Rev. per Employee
$560,917
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/zigman2/quotes/202245479/composite
US : U.S.: NYSE
$ 11.01
-0.26 -2.31%
Volume: 421,322
Oct. 18, 2019 6:30p
P/E Ratio
6.10
Dividend Yield
3.63%
Market Cap
$348.36 million
Rev. per Employee
$516,220
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/zigman2/quotes/204120302/composite
US : U.S.: Nasdaq
$ 7.83
+0.05 +0.64%
Volume: 6.05M
Oct. 18, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
2.04%
Market Cap
$1.59 billion
Rev. per Employee
$415,875
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/zigman2/quotes/207530975/composite
US : U.S.: NYSE
$ 2.90
-0.14 -4.61%
Volume: 7.84M
Oct. 18, 2019 6:30p
P/E Ratio
4.32
Dividend Yield
N/A
Market Cap
$933.43 million
Rev. per Employee
$3.19M
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/zigman2/quotes/208905612/composite
US : U.S.: NYSE
$ 4.54
-0.13 -2.78%
Volume: 14.48M
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.78 billion
Rev. per Employee
$448,507
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/zigman2/quotes/207330259/composite
US : U.S.: NYSE
$ 5.33
+0.03 +0.57%
Volume: 2.37M
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$1.05 billion
Rev. per Employee
$387,591
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/zigman2/quotes/210455719/composite
US : U.S.: NYSE
$ 5.39
-0.07 -1.28%
Volume: 1.70M
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$742.17 million
Rev. per Employee
$470,963
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/zigman2/quotes/207690683/composite
US : U.S.: NYSE
$ 1.30
0.00 0.00%
Volume: 2.87M
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$323.94 million
Rev. per Employee
$541,413
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