Morning Technical Breakdown for Oil and Gas Heavyweights
LONDON, UK / ACCESSWIRE / May 24, 2016 / ActiveWallSt.com announces the list of stocks featured in the Technical Morning Blog. Every morning the Active Wall St. team discusses the latest news and technical events impacting stocks and the financial markets. Companies recently featured in the blog include Petroleo Brasileiro, Whiting Petroleum, Transocean, and SeaDrill.
Today, ActiveWallSt.com is promoting its technical alert briefings. Get all of our alerts free by signing up to http://www.activewallst.com/.
Despite being buffeted by macroeconomic challenges, the global Oil and Gas Drilling and Exploration industry continues to present growth opportunities. Let us see how these macroeconomic factors are affecting some of the big players within this industry.
Below we take a brief technical look at how each of the companies mentioned above have fared over the last few trading sessions.
Petroleo Brasileiro S.A. – Petrobras (NYSE: PBR)
Petroleo Brasileiro S.A. and its subsidiaries are engaged in the exploration, exploitation, and production of oil and gas, and energy in Brazil and globally. The Company’s stock finished Monday’s session at $6.15, which was a correction of 4.65%. A total volume of 34.91 million shares was traded, above their three months average volume of 34.72 million shares. Over the previous three months and since the start of this year, the Company’s shares have surged 73.73% and 43.02%, respectively. The stock is trading above its 200-day moving average by 22.71%. Moreover, shares of Petroleo Brasileiro have a Relative Strength Index (RSI) of 39.99. On May 19, 2016, research firm Raymond James downgraded the company’s stock from a ‘market perform’ to an ‘underperform’ rating.
Whiting Petroleum Corp. (NYSE: WLL)
Shares in independent oil and gas company, Whiting Petroleum Corp., which is engaged in the Rocky Mountains and Permian Basin regions of the U.S., ended yesterday’s session 1.24% higher at $11.40. The Company’s shares saw a total volume of 17.80 million shares traded. The stock has gained 1.69% in the past month, 189.34% over the previous three months, and 20.76% on an YTD basis. The Company’s shares are trading 16.34% above their 50-day moving average. Moreover, Whiting Petroleum’s stock has an RSI of 58.95. Back in April 29th, 2016, research firm Wunderlich reiterated its ‘hold’ rating for the company’s stock; also increasing its previous target price on this oil and gas equity from $10 a share to $14 a share.
Transocean Ltd (NYSE: RIG)
Global offshore driller Transocean Ltd’s stock saw a correction of 2.90%, to close Monday’s session at $9.05. A total volume of 14.27 million shares was traded. The Company’s shares have advanced 5.97% in the previous three months. The stock is trading 8.87% below its 50-day moving average. Additionally, shares of Transocean have an RSI of 40.52.
SeaDrill Ltd (NYSE: SDRL)
Shares in offshore drilling contractor, SeaDrill Ltd, which provides its services globally, ended the day 3.13% lower at $3.10. A total volume of 8.14 million shares was traded. The stock has gained 80.23% in the previous three months. The Company’s shares are trading below their 50-day moving average by 15.85%. Furthermore, SeaDrill’s stock has an RSI of 36.07. Technical alert on SDRL is available for free at:
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