Natural gas–weighted stocks
Below are the natural gas–weighted stocks that could catch the possible upside in US crude oil (UCO) (OIIL) prices after the upcoming inventory data, based on their trailing week’s correlations with US crude oil February futures:
- Antero Resources (AR): 96.6%
- WPX Energy (WPX): 90%
- Chesapeake Energy (CHK): 88.8%
- Range Resources (RRC): 86.4%
- Southwestern Energy (SWN): 85.6%
Refer to Part 1 of this series for the possible upside in oil prices after the inventory report on December 28, 2017.
Below are the natural gas–weighted stocks that have the least correlation with oil prices in the past four trading sessions:
- Gulfport Energy (GPOR): 78.3%
- EQT (EQT): 72.6%
Oil prices are an important driver for natural gas as well as the entire the energy sector. All these natural gas–weighted stocks show a higher correlation with oil than with natural gas prices in this short-term period.
These natural gas–weighted stocks have been gathered from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and have at least a 60% production mix in natural gas.
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