|Day Low/High||61.17 / 63.01|
|52 Wk Low/High||41.34 / 65.86|
The supposed OPEC deal is just a desperate action to stop oil prices from collapsing again.
A turnaround may be in the sights for the industry but many companies could still look toward divestitures to strengthen their finances and put money in the bank for acquisitions.
Encana's secondary offering should be used to expand its oil operations, Cramer said.
The Houston oilfield service provider reported Friday a much more moderate gain in U.S. oil rigs than the industry has recently seen and said natural gas rigs were down again.
These names show the downward pull can be beaten with the right set of circumstances, and it happens more often than you might think.
The oil and gas producer will buy the family-owned operator in a deal worth $2.45 billion, a bargain price considering the attractive West Texas assets included in the package.
There are too many companies in just about every sector of this market, Cramer says.
Energen, Gulfport Energy, Laredo Petroleum, Newfield Exploration, PDC Energy and SM Energy top Williams Capital Group's takeout list.
The investments follow a flurry of deals in the region, including DiamondBack Energy Inc.'s purchase of properties in the Delaware Basin from Natural Gas Partners-backed Luxe Energy for $560 million.
Earlier this year, dozens of cash-squeezed oil producers announced billions of dollars of planned asset sales. Problem is, nobody was interested. Now, seemingly everyone is.
Barclays hiked its price target on PDC Energy (PDCE) stock following its entry into the Delaware basin.
PDC Energy makes a 'game-changing' land acquisition.
The acquisition expands the buyer into West Texas' hot Delaware Basin and is part of its plan to become a top mid-cap explorer and producer.
PDC Energy (PDCE) stock was up as the company will purchase two privately held companies for roughly $1.5 billion.
Pioneer Natural Resources and PDC Energy are buying acreage in the Permian basin, leading to lower production costs, Cramer says.
Trade-Ideas LLC identified PDC Energy (PDCE) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate
Trade-Ideas LLC identified PDC Energy (PDCE) as a "storm the castle" (crossing above the 200-day simple moving average on higher than normal relative volume) candidate