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.”
Enerplus Corp. (NYSE: ERF)(TSX: ERF) shares traded in the range of $16.16 to $16.59 last Thursday before settling to close at $16.40, an increase of 2.37 percent. The stock appears to be facing some resistance at the $16.62 and $17.12 levels with some support at $16.22. Shares of Enerplus have gained approximately 26.0 percent in 2013.
More information on Enerplus and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ERF
Key Energy Services, Inc. (NYSE: KEG) shares traded in the range of $6.99 to $7.23 last Thursday before settling to close at $7.22, an increase of 4.64 percent. The stock appears to be facing some resistance at the $7.51 and $7.71 levels with some support at $7.20. Shares of Key Energy Services have gained approximately 4.0 percent in 2013.
More information on Key Energy Services and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KEG
Magnum Hunter Resources Corp. (NYSE: MHR) shares traded in the range of $6.90 to $7.28 last Thursday before settling to close at $7.25, an increase of 7.41 percent. The stock appears to have some support at the $7.21, $6.86 and $6.18 levels. Shares of Magnum Hunter Resources have gained approximately 82.0 percent in 2013.
More information on Magnum Hunter Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MHR
Rex Energy Corporation (NASDAQ: REXX) shares traded in the range of $21.29 to $21.97 last Thursday before settling to close at $21.79, an increase of 2.98 percent. The stock appears to be facing some resistance at the $22.80 and $23.52 levels with some support at $21.56. Shares of Rex Energy have gained approximately 67.0 percent in 2013.
More information on Rex Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/REXX
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