Energy stocks were lifted last Thursday as oil future jumped after Organization of the Petroleum Exporting Countries (OPEC) reported a drop in September output. OPEC reported crude production averaged 30.05 million barrels per day in September, a decline of 390,000 when compared to the previous month. Separately, a survey conducted by Platts of oil industry experts and analysts estimated OPEC’s crude production dropped below 30 million barrels per day in September, which marked the first time on over two years. “Global [oil] product markets are expected to come under pressure over the winter season,” the OPEC report said. “The combination of sluggish demand and increasing product supplies are likely to dampen margins, leading to lower refinery runs over this period.”
Bill Barrett Corporation (NYSE: BBG) shares traded in the range of $24.62 to $25.14 last Thursday before settling to close at $24.69, an increase of 1.98 percent. The stock appears to be facing some resistance at the $24.86 and $25.32 levels with some support at $23.81. Shares of Bill Barrett have gained approximately 39.0 percent in 2013.
More information on Bill Barrett and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BBG
Continental Resources, Inc. (NYSE: CLR) shares traded in the range of $108.63 to $112.00 last Thursday before settling to close at $111.51, an increase of 4.09 percent. The stock appears to be facing some resistance at $115.76 with some support at the $110.42 and $108.26 levels. Shares of Continental Resources have gained approximately 67.0 percent in 2013.
More information on Continental Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CLR
Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) shares traded in the range of $40.26 to $42.50 last Thursday before settling to close at $42.48, an increase of 6.79 percent. The stock appears to have some support at the $41.69, $40.89 and $39.35 levels. Shares of Carrizo Oil & Gas have gained approximately 100.0 percent in 2013.
More information on Carrizo Oil & Gas and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CRZO
Cenovus Energy Inc. (NYSE: CVE)(TSX: CVE) shares traded in the range of $29.17 to $29.81 last Thursday before settling to close at $29.69, an increase of 2.49 percent. The stock appears to be facing some resistance at the $29.86 and $30.06 levels with some support at $29.49. Shares of Cenovus Energy have fallen approximately 11.0 percent in 2013.
More information on Cenovus Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CVE
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