Forecasts for cold weather have seen natural gas prices gain approximately 45.0 percent year-to-date and on Wednesday hit a five-year high. Prices pulled back slight Thursday after the U.S. Energy Information Administration reported inventories declined 250 billion cubic feet for the week ended February 14th. "The supplies of working gas - the stuff that is ready to go - are really low and could get dangerously low if the summer heats up too much," said Richard Hastings, a macro strategist at Global Hunter Securities. Here is how some natural gas stocks reacted Thursday:
Quicksilver Resources Inc. (NYSE: KWK) shares traded in the range of $3.44 to $3.61 Thursday before settling to close at $3.58, an increase of 2.87 percent. The stock appears to have some support at the $3.51, $3.41 and $3.19 levels. Shares of Quicksilver Resources have gained approximately 16.0 percent year-to-date.
More information on Quicksilver Resources and access to the free equity report can be found at: www.WallStreetFundamentals.com/KWK
Petroquest Energy Inc. (NYSE: PQ) shares traded in the range of $4.34 to $4.52 Thursday before settling to close at $4.38, a decrease of 1.79 percent. The stock appears to be facing some resistance at $4.85 with some support at the $4.28 and $4.07 levels. Shares of Petroquest Energy have gained approximately 1.5 percent year-to-date.
More information on Petroquest Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/PQ
SandRidge Energy Inc. (NYSE: SD) shares traded in the range of $6.37 to $6.50 Thursday before settling to close at $6.46, a decrease of 0.31 percent. The stock appears to be facing some resistance at the $6.58 and $6.68 levels with some support at $6.39 and $6.29. Shares of SandRidge Energy have gained approximately 6.0 percent year-to-date.
More information on SandRidge Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/SD
Southwestern Energy Company (NYSE: SWN) shares traded in the range of $41.65 to $42.77 Thursday before settling to close at $42.28, a decrease of 1.33 percent. The stock appears to be facing some resistance at $42.96 with some support at the $42.16 and $41.78 levels. Shares of Southwestern Energy have gained approximately 8.0 percent year-to-date.
More information on Southwestern Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/SWN
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