Halliburton warns of slowing demand growth out of the Permian, sending oil field services stocks lower

Halliburton warns of slowing demand growth out of the Permian, sending oil field services stocks lower

Summary of today's energy market action:
  • Continued war of words between President Trump and Iranian officials helped give oil prices a boost earlier in the day, but both WTI and Brent failed to hold on to their gains.
  • Brent ended the day unchanged, while WTI declined almost 4%. WTI also flipped from the August to September contract today, bring prices lower due to backwardation in the futures curve.
  • US bond yields rose in response to a spike in Japanese bond yields, sending the US dollar higher by 0.2%.
  • Today's winners on the TSX include Parkland Fuel (PKI +2.7%), which hit a new record high, PrairieSky Royalty (PSX +2.4%), on good Q2 earnings results, and Seven Generations Energy (VII +2.7%). Parex Resources (PXT -5.4%) was today's worst performer, giving back some of its recent gains.
  • Despite reporting decent Q2 results today, Halliburton (HAL -8.1%) sank today after the company warned of slowing demand growth out of the Permian Basin. The news sent oilfield services stocks tumbling on both sides of the border.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$73.06▼0.047.74
 
79.80
WTI$67.89▼3.645.49
 
74.15
CDN LT$61.04▼4.042.76
 
69.32
C5+$66.79▼3.744.83
 
71.40
WCS$41.59▼5.830.41
 
56.21
TSX ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
SuncorSU53.88▼-0.238.07
 
55.3592
Imperial OilIMO42.45▼-0.733.43
 
44.9172↓
Husky EnergyHSE20.62▲1.814.09
 
21.3092
MIDSTREAM
EnbridgeENB45.55▲0.337.36
 
53.0063
TransCanadaTRP58.34▲0.550.28
 
65.1872
Pembina PipelinePPL46.15▲0.337.60
 
47.0285↑
Inter PipelineIPL24.20▼-0.721.36
 
27.9235
Keyera KEY36.95▼-1.131.20
 
40.1477
Enbridge Income FundENF32.13▼-0.226.36
 
33.0592
Gibson EnergyGEI17.37▼-0.915.68
 
19.3840
LARGE CAP E&P
Canadian NaturalCNQ46.13▼-0.336.75
 
49.0879
Cenovus EnergyCVE13.40▲0.89.03
 
14.8472↓
EncanaECA16.82▼-1.111.05
 
18.0668
PrairieSkyPSK25.74▲2.424.28
 
35.9015↑
TourmalineTOU24.15▼-0.717.78
 
28.7483
SERVICES
ShawcorSCL26.24▼-1.623.60
 
30.1031↓
Mullen Group MTL15.91▼-0.814.10
 
17.6281
CES Energy SolutionsCEU4.66▼-3.74.39
 
7.346
Pason SystemsPSI20.61▼-0.616.05
 
21.9680
EnerflexEFX14.23▼-1.713.55
 
19.0824
REFINING & MARKETING
Parkland FuelPKI34.75▲2.723.41
 
34.9396

TSX ENERGY
VERSUS TSX & SUB-SECTORS
S&P 500 ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
Exxon MobilXOM81.400.072.16
 
89.3040
ChevronCVX121.33▼-0.8102.92
 
133.8834
MIDSTREAM
Kinder MorganKMI17.70▲0.114.69
 
20.7942
Williams CoWMB28.800.024.00
 
33.6751↑
ONEOKOKE70.15▲0.349.65
 
71.9990
LARGE CAP E&P
ConocoPhillipsCOP69.98▼0.042.27
 
72.5790
EOG ResourcesEOG122.86▲0.481.99
 
128.0376
Occidental PetroleumOXY82.45▼-0.858.44
 
87.6776
Anadarko PetroleumAPC71.06▲0.239.96
 
76.7086↓
Pioneer Natural ResPXD181.31▲0.2125.46
 
213.4040
SERVICES
SchlumbergerSLB65.74▼-0.561.02
 
80.3518
HalliburtonHAL41.54▼-8.138.18
 
57.861
Baker HughesBHGE32.50▲1.625.53
 
38.1027
TechnipFMCFTI29.90▼-0.924.53
 
35.0017
National-Oilwell VarcoNOV42.53▼-1.329.90
 
46.0076
REFINERS
Phillips 66PSX110.44▲0.180.73
 
122.3863↑
Valero EnergyVLO106.28▲0.164.22
 
126.9864
Marathon PetroleumMPC73.00▲0.749.30
 
83.3358
AndeavorANDV137.92▲0.789.58
 
151.8991

SPX PERFORMANCE
VERSUS SPX & SUB-SECTORS
NYSE ADRs
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
Royal Dutch ShellRDS.A69.40▼0.253.64
 
73.8657
TotalTOT61.25▼0.449.40
 
64.5968
BPBP44.25▼0.733.90
 
47.8358
EniE37.80▲0.230.13
 
40.1571
EquinorEQNR25.88▼0.417.25
 
28.0675

UPDATED: DAILY (END-OF-DAY)

SOURCES:
• OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
• EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
• CHARTPACKS COURTESY STOCKCHARTS.COM

NOTES:
• OIL PRICES, FUTURES AND DIFFERENTIALS IN USD/BBL
• C5+ = EDMONTON CONDENSATE
• FUTURES CURVES SHOW PRICES FOR NEAR-MONTH CONTRACT (C1) AND NEXT 5-MONTHS (C2-C6)
• TSX SHARE PRICES IN CAD; S&P 500 PRICES IN USD
• ADR: AMERICAN DEPOSITORY RECEIPTS LISTED ON NYSE IN USD
• SHARE PRICE CHANGES (INCL. NEW HIGHS & LOWS) EXCLUDE DIVIDENDS

RANK:
• BASED ON STOCKCHARTS TECHNICAL RANK (SCTR)
• REFLECTS RELATIVE STRENGTH AMONG OTHER ENERGY STOCKS (PERCENTILE RANKING)
• RISING RANK (↑) REFLECTS INCREASING RELATIVE STRENGTH
• FALLING RANK (↓) REFLECTS DECREASING RELATIVE STRENGTH.
WCS sinks almost 3% as Cdn heavy oil discount widens to US$28 a barrel

WCS sinks almost 3% as Cdn heavy oil discount widens to US$28 a barrel

Trump talks down the US dollar, giving oil prices a boost

Trump talks down the US dollar, giving oil prices a boost

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