The price of gold today (Friday, April 7) is at its highest level in nearly five months as investors buy safe havens in the wake of the Syrian air strike. As of 8:30 a.m., the metal is up 1.5% and trading at $1,272. That’s the highest since prices closed at $1,273 on Nov. 9, 2016.
It’s clear that gold’s been acting well of late, despite some renewed strength in the dollar.
Meanwhile, stocks appear to be stalling, while oil prices have bounced back and 10-year Treasuries have gained as well.
If we look at the gold price performance over the first quarter, there’s nothing to complain about. The precious metal gained 8.6% from Jan. 1 to March 31 and is currently up 10.4% on the year.
Compare that to just a 5.3% gain for the S&P 500 and you can see why gold is a great way to beat the broader market.
Best Oil Stocks To Invest In 2018: Williams Partners L.P.(WPZ)
- [By Ben Levisohn]
In a release after the close on Monday, Williams and Williams Partners (WPZ) made several announcements, including: 1) outlining managements plan to financially reposition and simplify the franchises GP/LP structure in an ~$11.4 billion transaction (not subject to any additional approvals), 2) adjustments to Williams and Williams Partners’ dividend and distribution payouts, 3) initiating a ~$2+ billion William equity raise to fund a further Williams investment in Williams Partners, 4) noted other potential upcoming changes, including the sale of ~$2 billion in non-core assets in 2017, and 5) provided several forms of updated 2017 guidance…
Best Oil Stocks To Invest In 2018: Talisman Energy Inc.(TLM)
- [By Jayson Derrick]
On the other hand, the analysts are Underweight on Eni SpA (ADR) (NYSE: E), Repsol Oil & Gas Canada Inc (USA) (NYSE: TLM) and OMV AG given their asset bases, which offer an inferior risk to reward profile and limited differentiation in cost reductions.
Best Oil Stocks To Invest In 2018: Marathon Oil Corporation(MRO)
- [By Craig Jones]
Pete Najarian spoke about options trading volume in Marathon Oil Corporation (NYSE: MRO). Over 10,000 contracts of the April 18 calls were bought on Wednesday and traders paid around $0.30 for them. The trade breaks even at $18.30 or 11.25 percent higher. Pete Najarian has a long position in Marathon Oil and he is planning to hold it for a couple of weeks.
- [By Jon C. Ogg]
Marathon Oil Corporation (NYSE: MRO) shares were up a whopping 209.9% at $18.08 on Wednesday, and the 70.5 million shares at the close was almost 5 times normal trading volume. Marathon Oil has a consensus analyst price target of $18.12 and a 52-week trading range of $6.52 to $18.55. The company has a total market cap of $15 billion.
- [By Ben Levisohn]
Marathon Oil (MRO) surged to the top of the S&P 500 today as oil surged 9.3% after OPEC agreed to cut production and giving energy stocks a boost.
Shares of Marathon Oil jumped 21% to $18.06, while the S&P 500 fell 0.3% to 2,198.81, and the Energy Select Sector SPDR ETF (XLE) climbed 5.1% to $74.43.
In a note published on Nov. 21, Morgan Stanley’sEvan Calio and team named Marathon Oil as one of the four stocks they expected to outperform if OPEC actually delivered a production cut:
Beta Should Lead At The Start of A Rally: Best ideas in the first leg up: Marathon Oil, Devon Energy (DVN), Anadarko Petroleum (APC), and Continental Resources (CLR). If OPEC announces a cut, whether moderate or deep, we expect that in the initial move up, moderate value beta names, like Marathon Oil, Devon Energy, Anadarko Petroleum, andContinental Resources will lead.For a $5 increase in oil prices, we estimate 2017 cash flow per share would increase 12-18% for these stocks vs. the remainder of the group at 12%. Of these four, short interest is modest for all exceptContinental Resources at 25%, among the highest in our universe. Outperformance of these names should be driven by investors adding to long positions, not short covering.
Good call. Not only did Marathon soar, but Devon Energy jumped 15% to $48.33, Anadarko Petroleum climbed 15% to $69.15, and Continental Resources surged 23% to $58.01.
Best Oil Stocks To Invest In 2018: Crescent Point Energy Corp (16)
- [By Kana Nishizawa]
China Coal Energy Co., the countrys second-largest producer of the fuel, sank 3.1 percent after the government said it will cut coal consumption. Sun Hung Kai Properties Ltd. (16), the worlds second-biggest developer, fell 1.4 percent after trimming its sales target. Gold producers led materials companies lower as the precious metal headed for its steepest weekly loss since June amid expectations the U.S. Federal Open Market Committee will next week decide to reduce stimulus.
Best Oil Stocks To Invest In 2018: Halliburton Company(HAL)
- [By Lisa Levin]
Halliburton Company (NYSE: HAL) reported better-than-expected earnings for its first quarter on Monday.
Halliburton posted adjusted earnings of $0.04 per share in the quarter on revenue of $4.28 billion; Analysts were expecting the company to earn $0.03 per share on revenue of $4.26 billion.
- [By Lisa Levin]
Halliburton Company (NYSE: HAL) reported stronger-than-expected profit for its third quarter on Monday.
Halliburton posted quarterly adjusted earnings of $0.42 per share on revenue of $5.44 billion. However, analysts expected earnings of $0.37 per share on revenue of $5.35 billion.
- [By Ben Levisohn]
How strong is the earnings recovery? Of the 18 stocks that reported this morning, 13 beat forecasts, including Halliburton (HAL), and Hasbro (HAS). BofA Merrill Lynch’s Savita Subramanian and team note that for the first time since 2012, analysts are raising their earnings forecasts as earnings season progresses:
- [By Tyler Crowe]
2016 was an interesting year for Halliburton (NYSE:HAL). Not only did the oil-field services company work through one of the largest downturns in the history of oil and gas, but it also had to deal with the financial fallout from a major acquisition blowing up in its face. When it reported fourth-quarter and fiscal 2016 earnings this week, the company showed that it had taken a big blow, but was ready to move on to the next big thing in the oil and gas market. Let’s take a quick look at the company’s results for the year that was, and see what could be in store in the coming quarters.