Analyzing Energy Company Moving Averages and Broker Estimates
Anadarko 5% above 20-day moving average
Anadarko Petroleum (APC) gained 5.69% on March 1, 2016. The company cut its fiscal 2016 capex by about 50% on a year-over-year basis and will monetize $3 billion of assets. APC moved 5% above its 20-day moving average on the day.
Since January 28, the stock has struggled to move above its 20-day moving average. However, the stock still trades 23% below its 100-day moving average. APC is currently 58% below its 52-week high and 42% above its 52-week low. At $40.11, the stock is trading close to its important technical level of $40. Since January 7, when it broke below $40, APC stock has not been able to break back above this level successfully.
Among the upstream (XOP) companies shown above in the table. EOG Resources (EOG), Devon Energy (DVN), and EQT Corp. (EQT) are 4.6%, 12%, and 1.5% below their 20-day moving averages. Other upstream companies are shown in the table and with the exception of EOG, DVN, and EQT, all traded above their 20-day moving averages on March 1.
Wall Street analysts’ consensus estimates
Wall Street analysts’ consensus median estimates suggest an average 34.7% upside for these select upstream companies. You can compare that to the 34% upside estimate for large-cap refiners. EQT (EQT) and Cabot Oil & Gas (COG) could rise by as much as 26% and 14%, respectively, over the next 12 months from their current levels, based on their analysts median estimates.
Based on Wall Street analysts’ median estimates, over the next 12 months, Anadarko Petroleum could see a 43.2% rise, EOG Resources could rise by 22.5%, and Apache (APA) could move up by 18%.
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