Canadian energy stocks give back some of yesterday’s gains despite higher oil prices

Canadian energy stocks give back some of yesterday’s gains despite higher oil prices

Summary of today's energy market action:

  • Oil prices shot up earlier in the day but retreated before the close, after President Trump repeated calls for OPEC to boost production and hinted at plans for additional sanctions on Iran.

  • API is forecasting a 2.9 million barrel build in US crude stockpiles for last week. The EIA releases its figures Wednesday morning.

  • The spread between Brent and WTI continues to widen, ending the day at over US$9.50 a barrel. Brent cleared another 4-year high today.

  • Bond yields on both sides of the border continue to tick higher. Markets are expecting the US Federal Reserve to raise interest rates on Wednesday afternoon.

  • US and Canadian markets declined slightly today. Energy sectors dipped 0.7% on the TSX but rose 0.6% on the S&P 500.

  • Energy services providers were the best performing subsector on both sides of the border today.

  • On the TSX:

    • Heavy-weights Suncor (SU.TO -1.9%), Enbridge (ENB.TO -2.0%) and Cenovus Energy (CVE.TO -2.7%) dragged the index lower, giving back some of yesterday's gains.

    • Altagas (ALA.TO -3.8%) broke down to a 6-year low.

    • Inter Pipeline (IPL.TO -0.5%) closed on the sale of its Heartland Petrochemical Complex utility plant.

  • On the NYSE:

    • Most US energy components posted gains for the day, with Marathon Petroleum (MPC -0.9%), Andeavor (ANDV -1.1%) and ConocoPhillips (COP +1.4%) hitting fresh new highs.

    • European ADRs rose again today, with Total (TOT +1.6%) and Equinor (EQNR +3.8%) also breaking out to new highs.

OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$81.87▲0.855.14
 
81.87
WTI$72.28▲0.349.29
 
74.15
CDN LT$54.28▲0.446.68
 
69.32
C5+$65.58▲0.750.99
 
71.40
WCS$38.53▲0.530.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 25   █ SEP 18   █ SEP 11   █ SEP 4   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES
    TSX SECTORS
52-WK
    SPX SECTORS
52-WK
ENERGY SECTORS
ENERGY SUB-SECTORS

TSX ENERGY SUB-SECTORS

SPX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • Trican Well (TCW +3.2%)
  • Advantage Oil & Gas (AAV +3%)
  • Pason Systems (PSI +1.7%)
  • Encana (ECA +1.4%)
  • Peyto Exploration (PEY +1.3%)
  • 12-MO HIGHS
  • Gran Tierra (GTE -0.6%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Altagas (ALA -3.8%)
  • Cenovus Energy (CVE -2.7%)
  • Enbridge Income Fund (ENF -2.4%)
  • Seven Generations (VII -2.2%)
  • Gibson Energy (GEI -2.1%)
  • 12-MO LOWS
  • Altagas (ALA -3.8%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU50.19▼-1.940.49
     
    55.4766
    Imperial OilIMO42.10▼-0.433.43
     
    44.9190
    Husky EnergyHSE22.40▼-0.415.09
     
    22.7693
    MIDSTREAM
    EnbridgeENB42.91▼-2.037.36
     
    52.5943
    TransCanadaTRP53.26▲0.350.28
     
    65.1824
    Pembina PipelinePPL44.51▲0.537.60
     
    47.8478
    Inter PipelineIPL22.97▼-0.521.36
     
    27.9238
    Keyera KEY34.88▼-0.231.20
     
    39.4446
    Gibson EnergyGEI20.04▼-2.115.68
     
    20.7592
    LARGE CAP E&P
    Cdn Natural ResCNQ42.57▼-0.336.88
     
    49.0847
    Cenovus EnergyCVE12.13▼-2.79.03
     
    14.8465
    EncanaECA17.17▲1.412.37
     
    18.5489
    PrairieSkyPSK23.49▼-0.522.71
     
    35.9013
    TourmalineTOU21.45▼-1.017.78
     
    27.2627
    SERVICES
    ShawcorSCL25.59▲0.223.60
     
    30.1037
    Mullen Group MTL15.17▲0.414.10
     
    17.6238
    CES Energy SolutionsCEU4.51▲1.14.14
     
    7.347
    Pason SystemsPSI20.28▲1.716.05
     
    22.1078
    EnerflexEFX16.24▲0.813.55
     
    19.0876
    REFINING & MARKETING
    Parkland FuelPKI43.26▼0.023.41
     
    43.9197
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Concho Resources (CXO +2.6%)
  • TechnipFMC (FTI +2.5%)
  • Baker Hughes (BHGE +1.9%)
  • HollyFrontier (HFC +1.7%)
  • Helmerich & Payne (HP +1.6%)
  • 12-MO HIGHS
  • ConocoPhillips (COP +1.4%)
  • Marathon Petroleum (MPC -0.9%)
  • Andeavor (ANDV -1.1%)
  • Hess Corp (HES -0.6%)
  • 10-YR HIGHS
  • Marathon Petroleum (MPC -0.9%)
  • Andeavor (ANDV -1.1%)
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Newfield Exploration (NFX -1.8%)
  • Williams Co (WMB -1.1%)
  • Andeavor (ANDV -1.1%)
  • Chesapeake (CHK -1.1%)
  • Marathon Petroleum (MPC -0.9%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM86.50▼-0.172.16
     
    89.3084
    ChevronCVX123.37▲0.6108.02
     
    133.8863
    MIDSTREAM
    Kinder MorganKMI17.88▼-0.114.69
     
    19.8367
    Williams CoWMB27.26▼-1.124.00
     
    33.6732
    ONEOKOKE68.43▲0.849.65
     
    71.9977
    LARGE CAP E&P
    ConocoPhillipsCOP78.11▲1.448.70
     
    78.6197
    EOG ResourcesEOG125.64▲1.394.74
     
    131.6084
    Occidental PetroleumOXY81.31▲0.762.47
     
    87.6787
    Anadarko PetroleumAPC66.82▲1.246.75
     
    76.7067
    Pioneer Natural ResPXD177.38▲1.5140.31
     
    213.4044
    SERVICES
    SchlumbergerSLB62.53▲1.559.25
     
    80.3525
    HalliburtonHAL41.36▲0.735.75
     
    57.8618
    Baker HughesBHGE33.47▲1.925.53
     
    38.1067
    TechnipFMCFTI32.54▲2.524.53
     
    35.0074
    National-Oilwell VarcoNOV43.44▼-0.131.47
     
    49.0864
    REFINERS
    Phillips 66PSX114.88▲1.389.14
     
    123.9772↑
    Valero EnergyVLO116.76▲1.674.35
     
    126.9888
    Marathon PetroleumMPC85.05▼-0.954.61
     
    88.4585
    AndeavorANDV157.29▼-1.189.58
     
    163.1999
    NYSE ADRs
    ADRs BULLISH INDICATORS
    12-MO HIGHS
  • Total (TOT +1.6%)
  • Equinor (EQNR +3.8%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • ADRs BEARISH INDICATORS
    12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A69.60▲2.159.52
     
    73.8673
    TotalTOT65.15▲1.652.95
     
    65.6980
    BPBP46.32▲2.436.15
     
    47.8385
    EniE39.06▲2.531.58
     
    40.1578
    EquinorEQNR28.70▲3.819.71
     
    28.9394
    ANALYST RATINGS

    UPGRADES

    • None

    DOWNGRADES

    • Holly Energy Partners (HEP): Downgraded from Equal Weight to Underweight at Barclays.


    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.
    Energy markets pullback after EIA reports build in crude stockpiles

    Energy markets pullback after EIA reports build in crude stockpiles

    Brent breaks out to 4-year high as OPEC rejects output increase

    Brent breaks out to 4-year high as OPEC rejects output increase

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