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Oil Prices Crushed These 5 Oil Stocks This Week презентация
Содержание
- 1. Oil Prices Crushed These 5 Oil Stocks This Week
- 2. The plunging price of crude crushed
- 3. What: Clayton Williams Energy (NYSE: CWEI) slipped more than 16% this week.
- 4. So What: Key driver: The continued crash
- 5. Now What: The weak oil price is
- 6. What: Enable Midstream Partners (NYSE: ENBL) slumped 20% this week.
- 7. So What: Key driver: Growing concerns with
- 8. Now What: Meanwhile, a 10% decrease in
- 9. What: Hornbeck Offshore Services (NYSE: HOS) dropped 20% this week.
- 10. So What: Key driver: The continued crash
- 11. Now What: This will force the company
- 12. What: Carrizo Oil & Gas (NASDAQ: CRZO) slumped more than 21% this week.
- 13. So What: Key driver: The continued crash
- 14. Now What: On a more positive note,
- 15. What: Cobalt International (NYSE: CIE) fell more than 21% this week.
- 16. So What: Key driver: The continued crash
- 17. Now What: However, the slide in crude
- 18. This could be the next billion-dollar iSecret
The plunging price of crude crushed oil stocks again this week. After some initial enthusiasm, crude fell from $38 at the start of the week to just over $33 per
Слайд 2
The plunging price of crude crushed oil stocks again this week.
After some initial enthusiasm, crude fell from $38 at the start of the week to just over $33 per barrel by Friday. That led to another awful showing for oil stocks. Some of the worst performers, according to S&P Capital IQ data, were Clayton Williams Energy (NYSE: CWEI), Enable Midstream Partners (NYSE: ENBL), Hornbeck Offshore Services (NYSE: HOS), Carrizo Oil & Gas (NASDAQ: CRZO), and Cobalt International (NYSE: CIE).
Слайд 4So What:
Key driver: The continued crash of crude oil
With the price
of oil now below $35 per barrel, it is significantly reducing the economic drilling inventory of Clayton Williams
Слайд 5Now What:
The weak oil price is also cutting deeply into its
cash flow, which will make it harder to maintain its debt
Key takeaway: Investors worry that Clayton Williams won’t survive if crude continues to crash
Key takeaway: Investors worry that Clayton Williams won’t survive if crude continues to crash
Слайд 7So What:
Key driver: Growing concerns with its direct commodity price exposure
Every
10% decrease in the price of natural gas yields a $5 million decrease in its Adjusted EBITDA for 2016
Слайд 8Now What:
Meanwhile, a 10% decrease in NGL and condensate prices would
yield a $3 million decrease in Adjusted EBITDA in 2016
Key takeaway: With its distribution coverage ratio already tight, investors are worried that falling commodity prices mean a distribution cut is on the horizon
Key takeaway: With its distribution coverage ratio already tight, investors are worried that falling commodity prices mean a distribution cut is on the horizon
Слайд 10So What:
Key driver: The continued crash of crude
With oil now falling
below $35 per barrel, it makes it much less likely that new oil projects in the Gulf of Mexico will be given the green light
Слайд 11Now What:
This will force the company to continue to stack vessels,
cutting its margins and leading to lower cash flow
Key takeaway: Investors are growing concerned that operating conditions could get much worse
Key takeaway: Investors are growing concerned that operating conditions could get much worse
Слайд 13So What:
Key driver: The continued crash of crude oil
With oil now
down below $35 per barrel, it is further reducing Carizzo’s economic drilling locations, which is a concern given that only 55% of its drilling locations were economic at an oil price below $45 per barrel
Слайд 14Now What:
On a more positive note, FBR Capital recommended the stock
and two peers this week because of its staying power, margin stability, and strong management
Key takeaway: Investors are more concerned that Carrizo’s economic drilling inventory is slipping away with each drop in the price of crude
Key takeaway: Investors are more concerned that Carrizo’s economic drilling inventory is slipping away with each drop in the price of crude
Слайд 16So What:
Key driver: The continued crash of crude
Unlike most oil companies,
Cobalt doesn’t currently produce any oil and won’t start producing until the Heidelberg project comes online next quarter
Слайд 17Now What:
However, the slide in crude will make that, and other
projects in development, less profitable than expected
Key takeaway: Investors are revaluing the company’s future potential given crude’s persistent slide
Key takeaway: Investors are revaluing the company’s future potential given crude’s persistent slide
