January 10, 2017: Markets opened mixed again Tuesday as the blue chips got off to a slow start. The DJIA peake in the middle of the day and slid back into the red with about an hour left this afternoon. The Nasdaq even posted another all-time high at 5,564.25 early this afternoon. Healthcare and financials were leading sectors while real-estate and energy lagged. WTI crude oil for February delivery settled at $50.82 a barrel, down about 2.2% on the day. February gold added less than 0.1% on the day to settle at $1,185.50. Equities were headed for a slightly higher close shortly before the bell as the DJIA traded up 0.05% for the day, the S&P 500 traded up 0.09%, and the Nasdaq Composite traded up 0.38%.
Stocks traded very near the break even line and the closing bell might see some shifts in which side of the line the indexes close on.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was Caterpillar Inc. (NYSE: CAT) which traded up about 1.93% at $94.15. The stock’s 52-week range is $56.36 to $97.40 Volume was about 35% below the daily average of around 4.2 million shares. The company had no specific news Tuesday.
Hot Energy Stocks To Own For 2018: Exxon Mobil Corporation(XOM)
- [By Paul Ausick]
Exxon Mobil Corp. (NYSE: XOM) dropped about 0.1% Thursday to post a new 52-week low of $76.05 after closing Wednesday at $76.10. The 52-week high is $93.22. Volume of around 11million shares traded was about 40% above the daily average. The company’s Baytown refinery (capacity 560,000 barrels a day) is closed due to tropical storm Harvey and despite the spring back of crude prices today, the refinery closure hurts more than the boost in crude. The stock did bounce back and is on its way to closing up about 0.4% for the day.
- [By ]
Shares of Chevron rose 0.8% to $125.19 at 9:55 a.m. New York time. Rival Exxon Mobil Corp. (XOM) , however, is moving lower after missing earnings expectations.
- [By Paul Ausick]
Exxon Mobil Corp. (NYSE: XOM) also dropped about 0.9% Thursday, to post a new 52-week low of $80.31 after closing at $81.03 on Wednesday. The stock’s 52-week high is $95.55. Volume was about 10% below the daily average of around 12 million shares. The energy giant acquired a stake in a massive Mozambique offshore gas field but was hurt by another sharp drop in crude oil prices.
- [By Paul Ausick]
Here’s how share prices of the largest U.S. natural gas producers reacting to the latest report:
Exxon Mobil Corp. (NYSE: XOM), the country’s largest producer of natural gas, traded up less than 0.1% to $79.26, in a 52-week range of $72.16 to $89.30. Chesapeake Energy Corp. (NYSE: CHK) traded down about 2%, at $3.07 in a 52-week range of $2.53 to $5.87. EOG Resources Inc. (NYSE: EOG) traded up about 0.8% to $113.76. The 52-week range is $81.99 to $119.00.
Furthermore, the United States Natural Gas ETF (NYSEARCA: UNG) traded down about 0.9%, at $22.41 in a 52-week range of $20.40 to $31.72.
- [By ]
Higher oil prices haven’t helped large integrated oil companies such as Exxon Mobil (XOM) and Chevron (CVX) much, though they did see gains Tuesday with the rest o the market and after a positive note from Bank of America Merrill on Exxon.
Hot Energy Stocks To Own For 2018: Approach Resources Inc.(AREX)
- [By Lisa Levin]
In trading on Friday, energy shares fell 0.83 percent. Meanwhile, top losers in the sector included Teekay Offshore Partners L.P. (NYSE: TOO), down 10 percent, and Approach Resources Inc. (NASDAQ: AREX), down 8 percent.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Approach Resources (AREX)
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Hot Energy Stocks To Own For 2018: Baker Hughes Incorporated(BHI)
- [By Matthew DiLallo]
Following a series of M&A announcements in the oilfield-services sector since the onset of the oil market downturn, French oil-field service company Technip and U.S. oilfield equipment company FMC Technologies (NYSE:FTI) hooked up in an all-stock deal valuing the combined company at $13 billion. Shareholders of each company will own 50% of the combined entity, to be named TechnipFMC, which implies a roughly $6.5 billion acquisition valuation for each entity. The transaction, which should close early next year, will “combine Technip’s innovative systems and solutions, state-of-the-art assets, engineering strengths, and project management capabilities with FMC Technologies’ leading technology, manufacturing, and service capabilities.” Further, it should save $400 million in annual costs by 2019. Moreover, it will enable the combined company to compete better against larger oil-field service rivals Baker Hughes (NYSE:BHI), Halliburton (NYSE:HAL), and Schlumberger (NYSE:SLB), which have all gained strength during the downturn either through M&A activities or cost savings initiatives.
- [By Brian Wu]
GE recently doubled down on its oil and gas business after merging it with Baker Hughes (NYSE:BHI) and took a majority 62.5% stake in the merged entity. The merged entity is now the second-largest oil services business and will help GE take full advantage of increased oil and gas production under the new administration.
- [By Arie Goren]
The Oil and gas business represents a significant part of GE’s operations. Oil and gas segment revenues of $9.5 billion accounted for 10.5% of the company’s total revenues in the first nine months of 2016. In the same period in 2015, the segment’s revenues were much higher at $12.1 billion, 14.5% of GE’s total revenues for that period. In one of my previous articles about GE, I suggested that GE’s decision to combine its oil and gas business with one of the world’s leading oilfield services companies Baker Hughes (NYSE:BHI)is a smart move. Meanwhile, Brent crude oil price has climbed 20% from the beginning of 2016 to $55.45 per barrel, and WTI crude oil price has increased 17.5% to $52.37 per barrel in the same period. As such, the U.S. rig count has started to recover, and oil and gas producers have begun to increase their capital spending. According to Baker Hughes, the average U.S. rig count for December 2016 increased by 54 from the prior month to 634 rigs. This development will benefit GE in the current quarter and much more after the merger with Baker Hughes.
Hot Energy Stocks To Own For 2018: Contango Oil & Gas Company(MCF)
- [By Lisa Levin]
In trading on Thursday, energy shares were relative laggards, down on the day by about 0.87 percent. Meanwhile, top losers in the sector included NGL Energy Partners LP (NYSE: NGL), down 17 percent, and Contango Oil & Gas Company (NYSE: MCF), down 12 percent.
- [By Stephan Byrd]
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- [By Lisa Levin]
Wednesday afternoon, the energy shares surged 0.79 percent. Meanwhile, top gainers in the sector included Contango Oil & Gas Company (NYSE: MCF), up 13 percent, and Cenovus Energy Inc (USA) (NYSE: CVE), up 7 percent.
Hot Energy Stocks To Own For 2018: Halliburton Company(HAL)
- [By Chris Lange]
Haliburton Co. (NYSE: HAL) is expected to reveal its fourth-quarter results on Monday. The consensus forecast calls for $0.46 in EPS, as well as $5.63 billion in revenue. Shares were trading at $53.01 on Fridays close. The consensus price target is $55.09. The stock has a 52-week range of $38.18 to $58.78.
- [By Lee Jackson]
These companies also reported insider buying last week: Apache Corp. (NYSE: APA), Halliburton Co. (NYSE: HAL), Revlon Inc. (NYSE: REV), Valeant Pharmaceuticals International Inc. (NYSE: VRX) and U.S. Steel Corp. (NYSE: X).
- [By Wayne Duggan]
Instead, Genargo prefers oil services stocks with the most exposure to the U.S market. Loop names Halliburton Company (NYSE: HAL) as its top large-cap stock pick and Oil States International, Inc. (NYSE: OIS), Newpark Resources Inc (NYSE: NR) and Superior Energy Services, Inc. (NYSE: SPN) as its top small- and mid-cap stocks.
- [By Lisa Levin] Companies Reporting Before The Bell
Kimberly-Clark Corporation (NYSE: KMB) is expected to report quarterly earnings at $1.71 per share on revenue of $4.60 billion.
Halliburton Company (NYSE: HAL) is projected to report quarterly earnings at $0.42 per share on revenue of $5.75 billion.
Lennox International Inc. (NYSE: LII) is estimated to report quarterly earnings at $1.09 per share on revenue of $815.16 million.
Alaska Air Group, Inc. (NYSE: ALK) is projected to report quarterly loss at $0.12 per share on revenue of $1.82 billion.
Hasbro, Inc. (NASDAQ: HAS) is expected to report quarterly earnings at $0.35 per share on revenue of $822.15 million.
Lincoln Electric Holdings, Inc. (NASDAQ: LECO) is projected to report quarterly earnings at $1.08 per share on revenue of $729.83 million.
Tennant Company (NYSE: TNC) is estimated to report quarterly earnings at $0.15 per share on revenue of $251.93 million.
FirstEnergy Corp. (NYSE: FE) is projected to report quarterly earnings at $0.67 per share on revenue of $3.43 billion.
Koninklijke Philips NV (ADR) (NYSE: PHG) is estimated to report earnings for its first quarter.
Bank of Hawaii Corporation (NYSE: BOH) is expected to report quarterly earnings at $1.23 per share on revenue of $162.39 million.
Avangrid, Inc. (NYSE: AGR) is projected to report quarterly earnings at $0.79 per share on revenue of $1.72 billion.