Company / Analytics

Analytics, 07 January 2023

Natural Gas Stocks

Natural gas prices have been going through a volatile time as they went from bad to better and over. from the Russia-Ukraine conflict to the weather, the effects on the natural gas sector have been clear. After Russia invaded Ukraine and cut-off exports to Europe in reaction to U.N. sanctions, prices in the U.S. and Europe shot up. In the same way, the weather became cold in early December 2022, leading to more consumption and causing natural gas prices to skyrocket. The prices have now hit a low as energy traders are advised not to count on any possibilities of cold weather in the foreseeable future.

An analyst at the European Policy Centre told CNN that Despite their recent steep decline, the gas prices in Europe will still be more than four times higher compared to their average over the past decade.

In this article, we shall look at various natural gas stocks and how recent occurrences have affected them.

Hess Corporation

Hess corporation stock, trading at 143.67 USD as of the time of writing, made a 2.05% increase today. this brings its total spike in price for the past year to 68.21%. Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas.

Hess corporation made a substantial number of oil discoveries at the Stabroek Block offshore Guyana plus the two latest discoveries at the Seabob-1 and Kiru-Kiru-1 wells adding to the recoverable resource estimate. Hess corporation’s ambitious expectations aim at reaching 1 million barrels per day in production by 2027.

Hess Corporation stock prices shot up by almost 1% on Friday than Thursday. Strong demand from buyers boosted the stock’s volume.

Hess Corporation has growth prospects that promise a lot of cash flow in the future. This means a return increment for stakeholders.

Cenovus Energy Inc.

Cenovus Energy stock was trading at 18.88 dollars at the time of writing. Having made a 2.64% increment today, bringing its past year’s spike to 39.31%. Cenovus Energy Inc. is an integrated oil and natural gas company headquartered in Calgary, Alberta. Cenovus was formed in 2009 when Encana Corporation split into two distinct companies.

Cenovus is an oil company, working in the production of crude oil and natural gas, with production and extraction operations in Alberta and refining operations in the U.S. Cenovus’ natural gas assets are held under its conventional segment, which holds interests in various natural gas processing and electricity generation facilities. The stock closed at over 18 dollars making a 1.43% step forward from its latest trading session. The past month has however seen the stock lose 0.87%. This was during a time when the entire oil sector lost 6.70%.

EQT Corp

EQT corp stock was trading at 33.48 dollars at the time of writing this article. The price has increased by 4.38% today and 53.67% in the past year. EQT Corporation is an American energy company engaged in hydrocarbon exploration and pipeline transport. It is headquartered in EQT Plaza in Pittsburgh, Pennsylvania.

EQT Corp is the number one producer of natural gas in the Appalachian Basin. The company also produces crude oil and NGLs. With its huge history in this sector, the company takes its rightful place among the best companies in the use of cutting-edge technology in its field. With a 1.60% dividend for stakeholders, the company set its target at 59 dollars for stock prices. Stocks closed at about 33 dollars after a plunge of less than 9%.

Williams Companies

The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. The stock was trading at 32,61 dollars after having witnessed a 1.84% spike. The past year’s cumulative price spike hit 18.8%.

Though with strong performance, the stock currently trades at a price-to-earnings ratio of 7, and that cheap valuation has become the reason why the company has reduced its share count by 11% in its recent quarters, elevating earnings per share. WMB crossed above its 200-day simple moving average.

Williams company’s stocks are worth watching considering stocks that give the greatest possibilities and result in profit go through a breakout in the early stages. Its current trend is keeping investors on the lookout for it.

Investor’s note

In the current environment of the natural gas market, it is most advisable to keep an eye on the relevant stocks and note and keep track of the best performers as well as the long-term performers. The other factors that will play a key role in determining the near-term price fluctuation of the commodities will be news related to the EU price cap on Russian oil exports and the potential demand loss from surging coronavirus cases in China.

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