After a handful of delays and increasing doubts, the Colorado Public Utilities Commission (CPUC) announced that it would approve an ambitious power plan from Xcel Energy (NASDAQ:XEL) that will permanently reshape the state’s electric grid. The utility will be allowed to retire two coal-fired power units representing one-third of its total coal capacity and replace them with over 2 gigawatts of combined wind, solar, and energy storage assets. It’s not without controversy.
Xcel Energy is confident that the $2.5 billion Colorado Energy Plan will end up saving ratepayers hundreds of millions of dollars over time, but the state regulator had doubts about the economic estimates. Failing to deliver the expected cost savings could have an impact on ratepayers and shareholders, as Colorado was responsible for 39% of the company’s net income in 2017. However, the power plan future-proofs the business — and it could actually end up saving over $1 billion.
Image source: Getty Images.
Top 10 Energy Stocks To Own Right Now: Oasis Petroleum Inc.(OAS)
Advisors’ Opinion:
- [By Matthew DiLallo]
Oasis Petroleum (NYSE:OAS), meanwhile, plans to use its strong Bakken position to drive growth in the coming years. The company is currently on pace to grow its production more than 25% this year and another 15% in 2019. Oasis Petroleum, likewise, is on pace to produce excess cash, which it could use to grow at a faster pace, pay down debt, or buy more land in the region as well as in its other growth engine in the Permian Basin.
- [By Benzinga News Desk]
The curtain could come down any day on MoviePass’ bumpy run as an independent company: Link
ECONOMIC DATA
Chicago Fed national activity index +0.10 vs +0.27 expected
The Composite Purchasing Managers' Index for April will be released at 9:45 a.m. ET.
Existing home sales report for March is schedule for release at 10:00 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
ANALYST RATINGS
Deutsche Bank upgraded Michael Kors (NYSE: KORS) from Hold to Buy
RBC downgraded Paylocity (NASDAQ: PCTY) from Outperform to Sector Perform
Suntrust downgraded Oasis Petroleum (NYSE: OAS) from Hold to SellThis is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
- [By Matthew DiLallo]
Shares of Oasis Petroleum Inc. (NYSE:OAS) rallied 13.2% in August, primarily due to the oil driller’s stronger-than-expected second-quarter report.
- [By Stephan Byrd]
These are some of the media stories that may have impacted Accern Sentiment’s scoring:
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Oasis Petroleum CEO: Oil prices always come back to suppl… (finance.yahoo.com) Oasis Petroleum (OAS) Price Target Raised to $17.00 at JPMorgan Chase (americanbankingnews.com) Oasis Petroleum (OAS) Rating Increased to Overweight at Morgan Stanley (americanbankingnews.com) Oasis Petroleum (OAS) Given Buy Rating at Williams Capital (americanbankingnews.com) Oasis Petroleum (OAS) Forecasted to Post FY2018 Earnings of $0.44 Per Share (americanbankingnews.com)
Several equities research analysts have recently commented on the stock. Stephens set a $15.00 price target on shares of Oasis Petroleum and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Williams Capital reiterated a “buy” rating and set a $18.00 price target on shares of Oasis Petroleum in a research report on Wednesday. JPMorgan Chase & Co. set a $17.00 price target on shares of Oasis Petroleum and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley upgraded shares of Oasis Petroleum from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $12.52 to $19.00 in a research report on Wednesday. Finally, BMO Capital Markets lifted their price target on shares of Oasis Petroleum from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $12.41.
Top 10 Energy Stocks To Own Right Now: Panhandle Royalty Company(PHX)
Advisors’ Opinion:
- [By Stephan Byrd]
COPYRIGHT VIOLATION WARNING: “Panhandle Oil and Gas Inc. (PHX) VP Purchases $49,760.00 in Stock” was reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at www.tickerreport.com/banking-finance/4147013/panhandle-oil-and-gas-inc-phx-vp-purchases-49760-00-in-stock.html.
- [By Logan Wallace]
Media headlines about Panhandle Oil and Gas (NYSE:PHX) have been trending somewhat positive on Wednesday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Panhandle Oil and Gas earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave news stories about the oil and gas producer an impact score of 50.7768748674153 out of 100, indicating that recent news coverage is somewhat likely to have an impact on the stock’s share price in the near term.
- [By Joseph Griffin]
News headlines about Panhandle Oil and Gas (NYSE:PHX) have trended somewhat positive on Sunday, Accern reports. The research firm rates the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Panhandle Oil and Gas earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned media stories about the oil and gas producer an impact score of 46.1120655512436 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
- [By Shane Hupp]
Panhandle Oil and Gas (NYSE:PHX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Top 10 Energy Stocks To Own Right Now: Patterson-UTI Energy, Inc.(PTEN)
Advisors’ Opinion:
- [By Max Byerly]
First Pacific Advisors LLC decreased its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 15.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,451,909 shares of the oil and gas company’s stock after selling 273,567 shares during the quarter. First Pacific Advisors LLC owned 0.65% of Patterson-UTI Energy worth $25,423,000 at the end of the most recent reporting period.
- [By Shane Hupp]
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for shares of Patterson-UTI Energy in a research report issued on Wednesday, October 3rd. Jefferies Financial Group analyst B. Handler forecasts that the oil and gas company will post earnings per share of ($0.13) for the quarter. Jefferies Financial Group has a “Buy” rating and a $22.00 price target on the stock. Jefferies Financial Group also issued estimates for Patterson-UTI Energy’s Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.08 EPS and Q4 2019 earnings at $0.13 EPS.
- [By Tyler Crowe]
The oil services industry, as a whole, has been a challenging one over the past few years as exploration and production companies have drastically scaled back capital spending. Within the industry, the two segments that have been some of the most difficult to make money in are drilling and pressure pumping (fracking). For Patterson-UTI Energy (NASDAQ:PTEN), weakness in these segments has been a double-whammy because they are Patterson’s two largest businesses. This past quarter was particularly tough because many producers finished their capital spending plans for 2018 early and might not start back up again until later in 2019.
- [By Stephan Byrd]
Thrivent Financial for Lutherans increased its stake in Patterson-UTI (NASDAQ:PTEN) by 31.8% during the 1st quarter, Holdings Channel reports. The firm owned 3,073,057 shares of the oil and gas company’s stock after purchasing an additional 741,573 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Patterson-UTI were worth $53,810,000 at the end of the most recent reporting period.
Top 10 Energy Stocks To Own Right Now: World Fuel Services Corporation(INT)
Advisors’ Opinion:
- [By Ethan Ryder]
World Fuel Services Corp (NYSE:INT) – Equities research analysts at Seaport Global Securities issued their Q1 2020 earnings per share (EPS) estimates for World Fuel Services in a research report issued to clients and investors on Thursday, March 7th. Seaport Global Securities analyst K. Sterling forecasts that the oil and gas company will earn $0.56 per share for the quarter. Seaport Global Securities currently has a “Buy” rating and a $40.00 target price on the stock. Seaport Global Securities also issued estimates for World Fuel Services’ Q2 2020 earnings at $0.60 EPS, Q3 2020 earnings at $0.80 EPS, Q4 2020 earnings at $0.74 EPS and FY2020 earnings at $2.70 EPS.
- [By Shane Hupp]
Get a free copy of the Zacks research report on World Fuel Services (INT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Shane Hupp]
Royce & Associates LP cut its position in shares of World Fuel Services Corp (NYSE:INT) by 38.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,227 shares of the oil and gas company’s stock after selling 149,743 shares during the quarter. Royce & Associates LP owned 0.35% of World Fuel Services worth $4,821,000 as of its most recent filing with the SEC.
- [By Lisa Levin]
World Fuel Services Corporation (NYSE: INT) shares dropped 21 percent to $22.05 following Q1 results.
Shares of Biglari Holdings Inc. (NYSE: BH) were down 17 percent to $352.05. Washington Prime Group Inc. (NYSE: WPG) will replace Biglari Holdings in the S&P SmallCap 600 on Tuesday, May 1.
- [By Stephan Byrd]
Internet Node Token (CURRENCY:INT) traded 1.6% lower against the US dollar during the 1 day period ending at 21:00 PM ET on June 6th. In the last seven days, Internet Node Token has traded 19.6% lower against the US dollar. Internet Node Token has a total market cap of $32.85 million and $6.97 million worth of Internet Node Token was traded on exchanges in the last 24 hours. One Internet Node Token token can now be bought for $0.22 or 0.00002838 BTC on exchanges including OKEx, CoinEgg and Allcoin.
Top 10 Energy Stocks To Own Right Now: CVR Refining, LP(CVRR)
Advisors’ Opinion:
- [By Stephan Byrd]
Get a free copy of the Zacks research report on CVR Refining (CVRR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Lisa Levin] Gainers
Twin Disc, Incorporated (NASDAQ: TWIN) shares surged 24.34 percent to close at $28.86 following Q3 earnings.
Bioblast Pharma Ltd. (NASDAQ: ORPN) rose 21.89 percent to close at $2.45.
Evolus, Inc. (NASDAQ: EOLS) gained 20.19 percent to close at $8.75. Evolus named David Moatazedi as new CEO.
VivoPower International PLC (NASDAQ: VVPR) rose 18.56 percent to close at $3.13 on Monday after falling 39.86 percent on Friday.
CEL-SCI Corporation (NYSE: CVM) gained 17.09 percent to close at $2.74.
athenahealth, Inc. (NASDAQ: ATHN) shares jumped 16.39 percent to close at $146.75 on Monday after Elliott Management confirmed a $160 per share cash offer for athenahealth.
Gramercy Property Trust (NYSE: GPT) rose 15.45 percent to close at $27.50 after the company agreed to be acquired by Blackstone Group L.P. (NYSE: BX) for $27.50 per share.
National CineMedia, Inc. (NASDAQ: NCMI) surged 15.23 percent to close at $6.43 after the company posted upbeat quarterly profit.
Turtle Beach Corporation (NASDAQ: HEAR) rose 14.53 percent to close at $7.33
CohBar, Inc. (NASDAQ: CWBR) gained 14.36 percent to close at $6.29.
Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) gained 12.69 percent to close at $3.64.
Gannett Co., Inc. (NYSE: GCI) gained 12.27 percent to close at $10.89 following Q1 results.
CVR Refining, LP (NYSE: CVRR) shares climbed 9.8 percent to close at $19.05.
Illumina, Inc. (NASDAQ: ILMN) rose 4.93 percent to close at $256.89. Barclays upgraded Illumina from Equal-Weight to Overweight.
Cloudera, Inc. (NYSE: CLDR) surged 3.92 percent to close at $15.63. Craig-Hallum initiated coverage on Cloudera with a Buy rating. - [By Maxx Chatsko]
Shares of CVR Energy (NYSE:CVI) dropped over 12% today after the holding company announced an interesting stock exchange offer for unitholders of its subsidiary, CVR Refining (NYSE:CVRR). The transaction will allow for up to 37.1 million units of the refiner to be exchanged for up to 23.5 million shares of the parent company, or at a 0.6335-to-1 ratio.
Top 10 Energy Stocks To Own Right Now: Profire Energy, Inc.(PFIE)
Advisors’ Opinion:
- [By Joseph Griffin]
Acadian Asset Management LLC lessened its stake in shares of Profire Energy, Inc. (NASDAQ:PFIE) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,579 shares of the oil and gas company’s stock after selling 34,956 shares during the quarter. Acadian Asset Management LLC owned approximately 0.47% of Profire Energy worth $328,000 at the end of the most recent reporting period.
- [By Jason Hall]
Shares of a handful of small independent oil and gas producers, as well as a number of smaller oilfield service and equipment providers fell more than 10% on May 25. Profire Energy, Inc. (NASDAQ:PFIE), which manufactures burner management systems for oil and gas companies, fell 14.5%, while offshore energy industry transportation specialist Bristow Group Inc (NYSE:BRS) fell 12.6%. Onshore drilling contractor Pioneer Energy Services Corp (NYSE:PES) and offshore oil and gas producer W&T Offshore, Inc. both fell 11.4%, while independent oil and gas producers California Resources Corp (NYSE:CRC) and Ultra Petroleum Corp (NASDAQ:UPL) fell 10.5% and 10%, respectively.
- [By Joseph Griffin]
Profire Energy (NASDAQ:PFIE)‘s stock had its “buy” rating restated by equities researchers at Maxim Group in a research report issued to clients and investors on Friday. They currently have a $7.00 price target on the oil and gas company’s stock. Maxim Group’s price target would suggest a potential upside of 114.07% from the stock’s previous close.
- [By Logan Wallace]
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
Get Edge Therapeutics alerts:
Rosacea Therapeutics Market 2024 Industry Trends, Growth, Analysis, Opportunities and Overview (digitaljournal.com) JUNE 22 DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Edge Therapeutics, Inc. and Encourages Investors with Losses to Contact the Firm (finance.yahoo.com) EDGE INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Edge Therapeutics, Inc. Investors (businesswire.com) 50 days simple moving average (SMA50) Evaluation Asanko Gold Inc. (NYSE:AKG), Edge Therapeutics, Inc. (NASDAQ … (stocksnewspoint.com) Investor’s Alert (price to sales ratio) Profire Energy, Inc. (NASDAQ:PFIE), Central Fund of Canada Limited (NYSE:CEF … (stocksnewspoint.com)
Edge Therapeutics traded up $0.08, reaching $1.03, during trading hours on Friday, according to MarketBeat Ratings. The company’s stock had a trading volume of 1,232,982 shares, compared to its average volume of 854,768. Edge Therapeutics has a fifty-two week low of $0.84 and a fifty-two week high of $17.77.
- [By Joseph Griffin]
Profire Energy, Inc. (NASDAQ:PFIE) was the recipient of a large growth in short interest in June. As of June 29th, there was short interest totalling 3,602,194 shares, a growth of 696.7% from the June 15th total of 452,167 shares. Based on an average daily trading volume, of 1,769,785 shares, the short-interest ratio is presently 2.0 days. Currently, 10.9% of the shares of the stock are sold short.
- [By Max Byerly]
Shares of Profire Energy, Inc. (NASDAQ:PFIE) gapped down before the market opened on Friday . The stock had previously closed at $3.20, but opened at $3.80. Profire Energy shares last traded at $3.38, with a volume of 4662724 shares traded.
Top 10 Energy Stocks To Own Right Now: Atlas Energy, L.P.(ATLS)
Advisors’ Opinion:
- [By Max Byerly]
Atlas Energy Group (OTCMKTS: ATLS) and Transglobe Energy (NASDAQ:TGA) are both small-cap oils/energy companies, but which is the better business? We will compare the two companies based on the strength of their analyst recommendations, institutional ownership, profitability, valuation, risk, dividends and earnings.
Top 10 Energy Stocks To Own Right Now: Bill Barrett Corporation(BBG)
Advisors’ Opinion:
- [By Shane Hupp]
Shares of Bill Barrett Co. (NYSE:BBG) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.28.
Top 10 Energy Stocks To Own Right Now: Murphy Oil Corporation(MUR)
Advisors’ Opinion:
- [By Logan Wallace]
Texas Permanent School Fund cut its holdings in Murphy Oil Co. (NYSE:MUR) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,981 shares of the oil and gas producer’s stock after selling 2,410 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Murphy Oil worth $3,545,000 as of its most recent filing with the Securities and Exchange Commission.
- [By Stephan Byrd]
Murphy Oil Co. (NYSE:MUR) has earned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.56.
- [By Max Byerly]
Shares of Murphy Oil Co. (NYSE:MUR) have earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $33.11.
- [By Matthew DiLallo]
Shares of Murphy Oil Corporation (NYSE:MUR) took off on Thursday, rising more than 12% by 10:30 a.m. EDT after the company agreed to form a strategic joint venture (JV) with Petrobras (NYSE:PBR) in the Gulf of Mexico.
- [By Shane Hupp]
Get a free copy of the Zacks research report on Murphy Oil (MUR)
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Top 10 Energy Stocks To Own Right Now: Range Resources Corporation(RRC)
Advisors’ Opinion:
- [By Shane Hupp]
RRCoin (CURRENCY:RRC) traded down 5% against the dollar during the twenty-four hour period ending at 14:00 PM ET on September 22nd. One RRCoin token can now be purchased for approximately $0.0093 or 0.00000139 BTC on cryptocurrency exchanges. RRCoin has a total market cap of $0.00 and approximately $463,836.00 worth of RRCoin was traded on exchanges in the last 24 hours. In the last seven days, RRCoin has traded 1.4% higher against the dollar.
- [By Tyler Crowe]
Companies in this region have had more measured growth plans because of the lack of pipelines. As Miller mentioned, though, improved efficiency has resulted in most companies outpacing their production growth plans. The lack of takeaway capacity has led to much lower prices for in-basin production. Range Resources (NYSE:RRC), one of the larger producers in the region, has noted that its price realizations were 10% below benchmark prices because of a lack of takeaway capacity.
- [By Joseph Griffin]
Range Resources Corp. (NYSE:RRC) – Equities research analysts at Seaport Global Securities raised their Q4 2018 earnings per share (EPS) estimates for shares of Range Resources in a note issued to investors on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings per share of $0.12 for the quarter, up from their previous forecast of $0.11. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Range Resources’ Q1 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.26 EPS and FY2019 earnings at $0.98 EPS.
- [By Tyler Crowe, Jason Hall, and Matthew DiLallo]
So we asked three of our energy contributors to each highlight a stock they see in the oil and gas industry that would make a great buy today. Here’s why they picked Diamond Offshore Drilling (NYSE:DO), Range Resources (NYSE:RRC), and Devon Energy (NYSE:DVN).
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Range Resources (RRC)
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