PNM Resources, Inc.’s (PNM Quick QuotePNM ) strategic infrastructure-related investments and efforts to provide reliable and affordable clean power will enhance its existing performance. Also, the company’s adequate liquidity will allow it to meet its debt obligations.
The company has a trailing four-quarter earnings surprise of 8.53%, on average. Its long-term (three-five years) earnings growth rate is pegged at 5.18%. In the past year, shares of this presently Zacks Rank #3 (Hold) company have gained 14.1%, outperforming the industry’s rise of 12.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
One-Year Price Performance
Image Source: Zacks Investment Research
What’s Driving the Stock?
PNM Resources continues to invest substantially in its utility assets for providing reliable services to its customers. The company plans to invest $3.98 billion during the 2021-2025 forecast period, which will help it enhance its earnings.
In New Mexico, the utility received approvals from both the Federal Energy Regulatory Commission and the New Mexico Public Regulation Commission to acquire the Western Spirit Transmission Line. Construction of the project started at the beginning of this year. We note that the company will play an important role with its expanding transmission assets in the region.
The utility is also steadily taking measures to increase its renewable and battery storage capacity, thus moving toward clean energy. To this end, PNM Resources is focused on exiting coal-fired generation by 2024 and targets an emission-free portfolio by 2040 to bring cleaner energy sources to its production portfolio. The goal of the company is to become carbon neutral before 2045. Also, it plans to replace 114 MW of leased capacity at the Palo Verde Nuclear Generating Station with solar and storage resources. Other utilities like Duke Energy (DUK Quick QuoteDUK ) , DTE Energy (DTE Quick QuoteDTE ) and Xcel Energy (XEL Quick QuoteXEL ) are too making efforts to supply clean energy.
The company boasts sufficient liquidity to meet its near-term obligations and fund capital investments despite the ongoing economic crisis.
Best Clean Energy Stocks To Watch Right Now: Carrizo Oil & Gas, Inc.(CRZO)
Carrizo Oil & Gas, Inc. is a Houston-based energy company which, together with its subsidiaries (collectively, “Carrizo,” the “Company” or “we”), is actively engaged in the exploration, development, and production of oil and gas primarily from resource plays located in the United States. Our current operations are principally focused in proven, producing oil and gas plays primarily in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado and the Marcellus Shale in Pennsylvania. The Company achieved record total production in 2015 of 13.4 MMBoe, a 12% increase from 2014, despite significantly lower capital expenditures in 2015 when compared to 2014. At year-end 2015, our proved reserves of 170.6 MMBoe were 64% crude oil, 12% natural gas liquids and 24% natural gas. Our reserves increased primarily as a result of our ongoing drilling program in the Eagle Ford. Advisors’ Opinion:
- [By Stephan Byrd]
Carrizo Oil & Gas (NASDAQ:CRZO)’s stock had its “buy” rating reaffirmed by investment analysts at Northland Securities in a report issued on Tuesday. They currently have a $25.00 price objective on the oil and gas producer’s stock. Northland Securities’ price target would suggest a potential upside of 109.21% from the company’s previous close.
- [By Max Byerly]
BidaskClub upgraded shares of Carrizo Oil & Gas (NASDAQ:CRZO) from a hold rating to a buy rating in a report published on Wednesday morning.
Several other research firms have also commented on CRZO. Royal Bank of Canada reissued a buy rating and set a $29.00 price target on shares of Carrizo Oil & Gas in a research report on Thursday, July 12th. Zacks Investment Research lowered shares of Carrizo Oil & Gas from a buy rating to a hold rating in a research report on Thursday, July 26th. Stifel Nicolaus cut their price objective on shares of Carrizo Oil & Gas from $44.00 to $34.00 and set a buy rating on the stock in a report on Thursday, June 28th. Jefferies Financial Group restated a hold rating and set a $27.00 price objective on shares of Carrizo Oil & Gas in a report on Wednesday, July 18th. Finally, Williams Capital restated a buy rating and set a $41.00 price objective on shares of Carrizo Oil & Gas in a report on Monday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $29.58.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on Carrizo Oil & Gas (CRZO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Shane Hupp]
Carrizo Oil & Gas Inc (NASDAQ:CRZO) – Equities research analysts at US Capital Advisors raised their Q1 2019 EPS estimates for shares of Carrizo Oil & Gas in a note issued to investors on Thursday, August 30th. US Capital Advisors analyst C. Horwitz now forecasts that the oil and gas producer will post earnings of $0.98 per share for the quarter, up from their previous estimate of $0.87. US Capital Advisors also issued estimates for Carrizo Oil & Gas’ Q2 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.21 EPS and Q4 2019 earnings at $1.27 EPS.
Best Clean Energy Stocks To Watch Right Now: Core Laboratories N.V.(CLB)
Core Laboratories N.V., incorporated on July 8, 1994, is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields. The Company has over 70 offices in over 50 countries. The Company operates in three segments: Reservoir Description, Production Enhancement and Reservoir Management. These segments provide different services and products and utilize different technologies for improving reservoir performance, and increasing oil and gas recovery from new and existing fields. The Company offers its services through its global network of offices. The Company manufactures products primarily in over four facilities for distribution on a global basis.
Reservoir Description
The Company’s Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples. The Company provides analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry. The Company provides services that characterize the porous reservoir rock and over three reservoir fluids. Services relating to these fluids include determining quality and measuring quantity of the fluids and their derived products. This includes determining the value of different crude oil and natural gases by analyzing the individual components of complex hydrocarbons. These data sets are used by oil companies to determine the efficient method by which to recover, process and refine these hydrocarbons to produce the value added to crude oil and natural gas.
The Company analyzes samples of reservoir rocks for their porosity, which determines reservoir storage capacity, and for their permeability, which defines the ability of the fluids to flow through the rock. These measurements are used to determine how much oil and gas are present in a reservoir and the rates at which the oil and gas can be produced. The Company also uses its services and technologies to correlate the reservoir description data to wireline logs and seismic data by determining the different acoustic velocities of reservoir rocks containing water, oil and natural gas. These measurements are used in conjunction with the Company’s reservoir management services to develop programs to produce oil and gas from the reservoir.
Production Enhancement
The Company’s Production Enhancement segment includes products and services relating to reservoir well completions, perforations, stimulations and production. The Company provides integrated services to evaluate the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects. The Company provides diagnostic services and products to help optimize completion and reservoir operations, and field development strategies in order to increase recoverable reserves. The Company provides services that are used by others to develop and optimize hydraulic fracturing and field flood projects. The Company’s data on rock type and strength are critical for determining the proper design of the hydraulic fracturing job. In addition, the Company’s testing indicates whether the fluid slurry is compatible with the reservoir rock so that damage does not occur that would restrict production. The Company also provides testing of various propping agents and software to help pick the best proppant based on net present value calculations of client investments. The Company’s ZERO WASH tracer technology is used to determine that the proppant material is properly placed in the fracture.
SPECTRACHEM is the Company’s technology, which is developed for optimizing hydraulic fracture performance. SPECTRACHEM is used to aid operators in determining the efficiency of the fracture fluids used. SPECTRACHEM tracers allow operators to evaluate the quantity of fracture fluid that returns to the wellbore during the clean-up period after a hydraulic fracturing event. This technology also allows the Company’s clients to evaluate load recovery, gas breakthrough, fluid leak-off and breaker efficiency, all of which are factors for optimizing oil and/or natural gas production after the formation is hydraulically fractured. The SPECTRACHEM Plus service determines the effectiveness and efficiency of the hydraulic fracture stimulation of long multi-stage horizontal wells in oil- and gas-shale plays throughout North America.
The Company’s completion monitoring system, COMPLETION PROFILER, helps to determine flow rates from reservoir zones after they have been hydraulically fractured. The Company’s FLOWPROFILER service, a hydrocarbon-based tracer technology, which is a further development of the Company’s patented SPECTRACHEM technology, quantifies the hydrocarbon production from discrete segments in multi-stage horizontal well completions and stimulations in unconventional tight-oil or gas plays. The Company has tracers used for oil reservoirs, which are different from the Company’s tracers used for gas reservoirs. FLOWPROFILER technology employs a hydrocarbon-soluble tracer and water-soluble tracer introduced into specific and isolated stages via the stimulating proppant stream.
The Company conducts dynamic flow tests of the reservoir fluids through the reservoir rock, at actual reservoir pressure and temperature, to realistically simulate the actual flooding of a producing zone. The Company uses technologies, such as its Saturation Monitoring by the Attenuation of X-rays (SMAX), to help design the enhanced recovery project. After a field flood is initiated, the Company is involved in monitoring the progress of the flood. The Company’s PACKSCAN technology is used as a tool to evaluate gravel pack effectiveness in an unconsolidated reservoir. PACKSCAN measures the density changes in the area around the tool and is designed to observe the changes within the gravel pack annulus to verify the completeness of the gravel pack protection of the wellbore without any additional rig time.
The Company’s High Efficiency Reservoir Optimization (HERO), SUPERHERO and SUPERHERO Plus perforating systems enhance reservoir performance. The SUPERHERO and SUPERHERO Plus perforating systems complement the Company’s HERO line, and are designed to optimize wellbore completions and stimulation programs in oil- and gas-shale reservoirs. SUPERHERO and SUPERHERO Plus charges can eliminate the ineffective perforations that would otherwise limit daily oil and natural gas production and hinder the optimal fracture stimulation programs needed for prolific production from the Bakken, Eagle Ford, Marcellus, Niobrara and similar oil- and gas-shale formations.
The Company’s Horizontal Time-Delayed Ballistics Actuated Sequential Transfer (HTD-BLAST) perforating system is a technology useful for the perforation of extended-reach horizontal completions in the Bakken, Eagle Ford, and other shale formations. The HTD-BLAST perforating system can be deployed via coiled tubing and enables over 10 perforating events, beginning at the farthest reaches, or toe regions, of extended-reach horizontal wells, or over 30 perforating events in vertical wellbores. The Company also offers KODIAK Enhanced Perforating Systems energetic technology. The Company’s X-SPAN and GTX-SPAN casing patches are supported by the Company’s technical services personnel. These systems are capable of performing in high pressure oil and gas environments, and are used to seal non-productive reservoir zones from the producing wellbore.
Reservoir Management
The Company’s Reservoir Management segment combines and integrates information from reservoir description and production enhancement services to increase production and improve recovery of oil and gas from the Company’s clients’ reservoirs. The Company is involved in various large-scale reservoir management projects. It also develops and provides industry consortium studies to provide critical reservoir information to a spectrum of clients, such as the Company’s multi-client, basin-wide reservoir optimization projects conducted in North America and international settings. Many of these studies examine unconventional reservoirs. The Company engineers and manufactures permanent real-time reservoir monitoring equipment that is installed in the reservoir for the Company’s oil and gas company clients. The Company’s non-electronic ERD Pressure and Temperature sensors provide real-time data, which is used by drilling engineers to make real-time decisions, production engineers to optimize production, and reservoir engineers to prove up models and obtain a picture of the reservoir over time.
Advisors’ Opinion:
- [By Joseph Griffin]
COPYRIGHT VIOLATION WARNING: “Core Laboratories (CLB) Shares Sold by Eagle Asset Management Inc.” was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at www.tickerreport.com/banking-finance/4197965/core-laboratories-clb-shares-sold-by-eagle-asset-management-inc.html.
- [By Travis Hoium, Jason Hall, and Matthew DiLallo]
Three of our Foolish contributors put their heads together to outline what the best oil stocks are today given the market’s trends, and Core Laboratories (NYSE:CLB), Anadarko Petroleum (NYSE:APC), and Ensco (NYSE:ESV) bubbled to the top. They’re well positioned in the market and may even provide a great value for long-term investors.
- [By Stephan Byrd]
TRADEMARK VIOLATION NOTICE: “Core Laboratories (CLB) Position Increased by Arizona State Retirement System” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at www.tickerreport.com/banking-finance/4153048/core-laboratories-clb-position-increased-by-arizona-state-retirement-system.html.
Best Clean Energy Stocks To Watch Right Now: Akebia Therapeutics, Inc.(AKBA)
Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor (HIF) biology for patients with kidney disease. Its lead product candidate is vadadustat, an oral therapy which has completed a Phase II study for the treatment of anemia related to chronic kidney disease in both non-dialysis and dialysis patients; and clinical product candidate is AKB-6899, a small molecule HIF-PH inhibitor to treat oncology and ophthalmology. The company was founded in 2007 and is headquartered in Cambridge, Massachusetts.
