How Do Energy Companies Compare on Key Moving Averages?
Apache inches toward its 100-day moving average
Apache Corporation (APA) closed 3% below its 100-day moving average yesterday. On February 10, APA was trading 21% below its 100-day moving average. Since, February 10, the stock has converged with its 100-day and 20-day moving averages. APA rose 8.6% yesterday and closed at $41.97. APA is trading 42% below its 52-week high and 30.3% above its 52-week low. On a month-to-date basis, APA has risen 9.6%, while on a year-to-date basis, it has fallen 5.6%.
Marathon Oil (MRO) and Devon Energy (DVN) were trading the furthest below their 100-day moving averages on March 2, 2016, among all upstream companies mentioned here. MRO and DVN were trading 32% and 37% below their 100-day moving averages, respectively. In contrast, Cabot Oil & Gas (COG) and Pioneer Natural Resources (PXD) were trading 13% and 1% above their 100-day moving average, respectively.
Wall Street consensus median estimates
Wall Street analysts’ consensus median estimates indicate a 26% rise for these select upstream (XOP) companies. EQT (EQT) and Cabot Oil & Gas (COG) could rise by as much as 24% and 9%, respectively, over the next 12 months from their current levels, based on their median estimates.
Based on Wall Street median estimates for the next 12 months, Anadarko Petroleum (APC) could rise 33%, EOG Resources could rise 19%, and Apache (APA) could rise 8.4%.
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