Oil and Gas Hot performance: Chesapeake Energy Corporation (NYSE:CHK), Petroleo Brasileiro SA Petrobras (ADR)(NYSE:PBR)
Chesapeake Energy Corporation (NYSE:CHK), after opening its shares at the price of $5.46, dropped -1.56% to close at $5.36 for the day. The stock moved on a traded volume of 12.19M shares, in comparison to 38.33M shares of average trading volume. Oil prices were largely steady on Friday, and looked set to finish the week with modest gains after losing almost 10 percent last week on concerns that an OPEC production cut was failing to reduce a global supply overhang.
Crude traded in a narrow band this week, with Brent and West Texas Intermediate bouncing in a $2.50 range as investors weighed the impact of the first oil cut from the Organization of the Petroleum Exporting Countries in eight years against rising U.S. shale oil output and high inventories.
The 52-week range for the stock is $3.53 and $8.20and during the previous trading session the stock touched its highest price at $5.53. Its introductory price for the day was $5.46. The stock’s current distance from 20-Day Simple Moving Average (SMA20) is -2.73% where (SMA50) and (SMA200) are -13.77% and -10.38% respectively.
Petroleo Brasileiro SA Petrobras (ADR)(NYSE:PBR) reported the decline of -1.41% and closed at $9.06 with the total traded volume of 7.84Mshares. The stock’s opening price was $18.57M. The company has a total market capitalization of $57.01B. Analysts at Natixis explains that since the start of the year, emerging equity markets have turned in some of the best performances and in particular, they observe a very significant underperformance of the Russian equity market against its Brazilian counterpart, the MSCI Russia shedding nearly 10%, whereas the MSCI Brazil has put on 10%, this even before last week’s sudden downturn in crude oil prices, which saw Brent plunge from $56/bbl to $51/bbl.
Given our bullish scenario for crude in H2 2017 (we see Brent recovering to $65/bbl at end-2017) and our positive macroeconomic predictions for Russia (1.8% GDP growth in 2017 vs. 1.3% according to the Consensus Forecast), and even though we expect the Russian ruble to appreciate slightly (taking the USD/RUB to 57), our view is that Russian indices have rebound potential in coming months.”
The 52-week price range of the stock remained $4.98 – $12.56, while during last trade its minimum price was $9.06 and it gained its highest price of $9.32. The company shows its Return on Assets (ROA) value of -6.40%. The Return on Equity (ROE) value stands at -20.70%. While it’s Return on Investment (ROI) value is -1.00%.