Here’s what you need to know to navigate the markets today.
• U.S. stocks are set to open Monday slightly higher. On Sunday night, Dow Jones Industrial Average futures had gained 78 points, or 0.2%, while the S&P 500 futures rose 0.2% and Nasdaq Composite futures rose 0.15%. This week’s earnings include: Oracle and Mission Produce on Monday; FuelCell Energy and European Wax Center on Tuesday; and Progressive and Manchester United on Friday. Notable economic events this week include: On Monday, the Treasury Department releases the U.S. budget statement for August. On Tuesday, Apple will hold its virtual product launch, at which it is expected to introduce the iPhone 13; the Bureau of Labor Statistics releases the August consumer price index; and the National Federation of Independent Business will report its Small Business Optimism Index for August. On Thursday, the Census Bureau reports retail sales for August. And on Friday, the University of Michigan publishes its Consumer Sentiment index for September.
Top 5 Energy Stocks To Watch For 2023: Apache Corporation(APA)
Apache Corporation, together with its subsidiaries, engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company has exploration and production interests in the Gulf of Mexico, the Gulf Coast, east Texas, the Permian basin, the Anadarko basin, and the Western Sedimentary basin of Canada; and onshore Egypt, offshore Western Australia, offshore the United Kingdom in the North Sea, and onshore Argentina, as well as on the Chilean side of the island of Tierra del Fuego. Apache Corporation sells its natural gas to local distribution companies, utilities, end-users, integrated oil and gas companies, and marketers; and crude oil to integrated oil companies, marketing and transportation companies, and refiners. As of December 31, 2009, it had total estimated proved reserves of 1,067 million barrels of crude oil, condensate, and natural gas liquids, as well as 7.8 trillion cubic feet of natural gas. The company was founded in 1954 and is based in Houston, Texas.
Advisors’ Opinion:
- [By Motley Fool Transcribing]
Apache (NYSE:APA) Q4 2018 Earnings Conference CallFeb. 28, 2019 11:00 a.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
- [By Garrett Baldwin]
To see why we believe some of the richest players in the world are preparing for a market collapse, click here.
Stocks to Watch Today: WTW, CHK, BBY
Shares of Weight Watchers International Inc. (NASDAQ: WTW) cratered more than 30% after the company fell well short of earnings expectations after the bell and issued worse-than-expected 2019 guidance. The firm reported adjusted earnings of $0.46, a figure that missed expectations by $0.14. The firm also issued weak forward guidance. After yesterday’s slump, Oprah Winfrey’s stake in the company plunged by a whopping $48 million. Shares of Chesapeake Energy Corp. (NYSE: CHK) popped 10.2% after the natural gas producer reported earnings before the bell. Higher natural gas prices in the fourth quarter helped bolster the firm’s bottom line. Total natural gas sales jumped 37% in Q4 to $3.07 billion, well above analysts’ expectations of $2.28 billion. That strong natural gas revenue helped the firm report adjusted EPS of $0.49, which was a 49% jump year over year. Shares of Best Buy Co. Inc. (NYSE: BBY) popped 10% after the electronics retailer topped Wall Street earnings expectations before the bell. The firm’s profit of $2.72 topped consensus expectations by $0.15 per share. The firm cited stronger-than-expected same-store sales, hiked its dividend from $0.45 to $0.50, and issued a positive 2019 outlook. Today, look for more earnings reports from Apache Corp. (NYSE: APA), Box Inc. (NYSE: BOX), Campbell Soup Co. (NYSE: CPB), Dean Foods Co. (NYSE: DF), Fitbit Inc. (NYSE: FIT), HP Inc. (NYSE: HPQ), L Brands Inc. (NYSE: LB), Lowe’s Co. Inc. (NYSE: LOW), Office Depot Inc. (NYSE: ODP), and Square Inc. (NYSE: SQ).
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- [By Joseph Griffin]
Meridian Wealth Management LLC purchased a new stake in Apache Co. (NYSE:APA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,729 shares of the energy company’s stock, valued at approximately $255,000.
Top 5 Energy Stocks To Watch For 2023: Laredo Petroleum, Inc.(LPI)
Laredo Petroleum, Inc. operates as an independent energy company in the United States. It focuses on the acquisition, exploration, and development of oil and natural gas properties, as well as the transportation of oil and natural gas primarily in the Permian Basin in West Texas. As of December 31, 2015, it had interests in the 135,408 net acres in the Permian Basin; and had total proved reserves of 125,698 thousand barrels of oil equivalent. The company was formerly known as Laredo Petroleum Holdings, Inc. and changed its name to Laredo Petroleum, Inc. in December 2013. Laredo Petroleum, Inc. was founded in 2006 and is headquartered in Tulsa, Oklahoma.
Advisors’ Opinion:
- [By Stephan Byrd]
Several large investors have recently made changes to their positions in CRC. Quantamental Technologies LLC purchased a new position in California Resources during the fourth quarter valued at approximately $48,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in California Resources by 29.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,117 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 711 shares in the last quarter. Hsbc Holdings PLC raised its position in California Resources by 32.8% during the fourth quarter. Hsbc Holdings PLC now owns 11,396 shares of the oil and gas producer’s stock valued at $194,000 after acquiring an additional 2,815 shares in the last quarter. WINTON GROUP Ltd raised its position in California Resources by 88.8% during the fourth quarter. WINTON GROUP Ltd now owns 12,649 shares of the oil and gas producer’s stock valued at $216,000 after acquiring an additional 5,951 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in California Resources by 335.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,122 shares of the oil and gas producer’s stock valued at $241,000 after acquiring an additional 10,879 shares in the last quarter. Hedge funds and other institutional investors own 73.50% of the company’s stock.
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About California Resou
- [By Motley Fool Transcribers]
California Resources Corp (NYSE:CRC)Q4 2018 Earnings Conference CallFeb. 27, 2019, 5:00 p.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
Top 5 Energy Stocks To Watch For 2023: Ion Geophysical Corporation(IO)
ION Geophysical Corporation provides geoscience technology, services, and solutions for the oil and gas industry worldwide. It operates through four segments: Solutions, Systems, Software, and Ocean Bottom Services. The Solutions segment offers services to manage the entire seismic process, from survey planning and design to data acquisition and management, to final subsurface imaging and reservoir characterization. This segment also provides data processing and imaging services to help its exploration and production customers for reducing exploration and production risk, evaluating and developing reservoirs, and increase production. The Software segment provides command and control software systems, related software and services for towed marine streamer and ocean bottom seismic operations, as well as survey design. The Systems segment manufactures re-deployable ocean bottom cable seismic data acquisition systems; marine towed streamer positioning and control systems; and geophone sensors. The Ocean Bottom Services segment offers survey design, planning, and optimization services to maximize seismic image quality, operational efficiency, and safety; superior imaging services; and data processing, interpretation, and reservoir services. The company markets and sells its services and products through direct sales force and third-party sales representatives. The company was formerly known as Input/Output, Inc. and changed its name to ION Geophysical Corporation in 2007. ION Geophysical Corporation was founded in 1968 and is headquartered in Houston, Texas.
Advisors’ Opinion:
- [By Stephan Byrd]
Country Club Trust Company n.a. decreased its holdings in shares of Mplx Lp (NYSE:MPLX) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,944 shares of the pipeline company’s stock after selling 1,016 shares during the period. Country Club Trust Company n.a.’s holdings in Mplx were worth $458,000 at the end of the most recent reporting period.
- [By Matthew DiLallo]
One company with a history of giving its investors more money each quarter is master limited partnership (MLP) MPLX (NYSE:MPLX). The oil and gas midstream company has now increased its cash distribution to investors for 24 straight quarters, which has helped push its yield up to 7.7%. Given its current slate of growth projects, the company believes it can continue sending more money to investors each quarter for at least the next couple of years.
- [By Logan Wallace]
Mplx Lp (NYSE:MPLX) has been assigned an average recommendation of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $41.20.
- [By Tyler Crowe]
For investors looking for income investments, few have been as rewarding as MPLX LP (NYSE:MPLX) over the past few years. The stock has had an incredibly high yield and has almost doubled its payout over the past five years. It looks like this incredible growth rate is about to be put on hold, though, as management has decided to prioritize spending on growth over the next couple of years.
