Over the last five sessions, the SWN stock price has climbed 3.4%, with inflows from institutional investors increasing. The positive sentiment follows recent management guidance suggesting stable production costs despite fluctuating gas prices. According to the International Energy Agency, the global oil industry faces a challenging landscape, with slow demand growth coupled with supply chain disruptions. In the first half of 2024, the demand grew by just 800,000 barrels per day (kb/d), which is the slowest increase since 2020. The main contributor to this declining demand is the consistent drop in China’s consumption in the past four months. The trend in 2024 contrasts with the 2.1 million barrels per day (mb/d) surge in demand seen in 2023. The slowdown in China’s economy, combined with the shift towards electric vehicles, has driven the decline in global consumption. At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points ( see more details here ). Recent analyst notes upgraded SWN from “Hold” to “Buy,” targeting $7.20 as a fair value estimate. The stock price closed marginally higher following the update, hinting at increased bullish sentiment.
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