The financial turmoil of giant Chinese property company China Evergrande Group is not the Asian analog to the collapse of Lehman Brothers, which set off the financial crisis 13 years ago this month. That’s because Beijing is likely to prevent any contagion from infecting its financial system to maintain the social and political stability that is its No. 1 priority.
While the Evergrande (ticker: 3333.Hong Kong) crisis provided a ready excuse for Monday’s stock selloff, its parlous financial condition was well-known, with $300 billion in liabilities and debt payments coming due this week. Its stock price had collapsed to near zero while its bonds were quoted at around about one-quarter of their par value, clear indications of the market’s awareness of the storm gathering around the heavily indebted real estate outfit.
Top Oil Stocks To Invest In 2023: ConocoPhillips(COP)
ConocoPhillips operates as an integrated energy company worldwide. The company?s Exploration and Production (E&P) segment explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids. Its Midstream segment gathers, processes, and markets natural gas; and fractionates and markets natural gas liquids in the United States and Trinidad. The company?s Refining and Marketing (R&M) segment purchases, refines, markets, and transports crude oil and petroleum products, such as gasolines, distillates, and aviation fuels. Its Chemicals segment manufactures and markets petrochemicals and plastics. This segment offers olefins and polyolefins, including ethylene, propylene, and other olefin products; aromatics products, such as benzene, styrene, paraxylene, and cyclohexane, as well as polystyrene and styrene-butadiene copolymers; and various specialty chemical products comprising organosulfur chemicals, solvents, catalyst s, drilling chemicals, mining chemicals, and engineering plastics and compounds. The company?s Emerging Businesses segment develops new technologies and businesses. It focuses on power generation; and technologies related to conventional and nonconventional hydrocarbon recovery, refining, alternative energy, biofuels, and the environment. This segment also offers E-Gas, a gasification technology producing high-value synthetic gas. ConocoPhillips was founded in 1917 and is based in Houston, Texas.
- [By Faizan Farooque]
In the meantime, investing in BP requires patience. It still has sizeable oil & gas assets, and as the world continues to get back to normal, things will only get better from here on in. With shares trading at 7.4 times forward price-to-earnings and the company offering a juicy dividend yield of 5.28%, this is one energy giant looking very attractive for a value investor.
Undervalued Stocks to Watch: ConocoPhillips (COP) Source: JHVEPhoto / Shutterstock.com
ConocoPhillips is one of the biggest independent energy producers in the world. Much like other energy companies, COP had a tough 2o2o. But the stock is slowly picking up steam and is up nearly 10% in the last month. It has been in the news recently due to the completion of its acquisition of Concho Resources, which is based in the Permian Basin area of Southeast New Mexico and West Texas.
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Royal Dutch Shell (RDS.A) has risen 4% the U.K.-Dutch oil major said it would exit the largest U.S. oil field by selling its Permian Basin assets to ConocoPhillips for $9.5 billion. ConocoPhillips (COP) advanced 4% in New York.
Top Oil Stocks To Invest In 2023: Petron Corp (PCOR)
Petron Corporation (Petron) is a Philippines-based oil refining and marketing company. Petron’s refinery in Limay, Bataan produces a range of petroleum products. Petron operates through the Petroleum, Insurance, Leasing, Marketing, and Eliminations and Others segments. Petron sells petroleum and other related products, including gasoline, diesel and kerosene. Petron provides a range of insurance and reinsurance products. Petron leases real estate properties for petroleum, refining, storage and distribution facilities, gasoline service stations and other related structures. Petron is involved in the wholesale or retail and operation of service stations, retail outlets, restaurants and convenience stores; export sales of various petroleum and non-fuel products to other Asian countries, and sale of polypropylene resins to domestic plastic converters of yarn, film and injection molding grade plastic products. Petron sells its LPG brands Gasul and Fiesta to household and other customers. Advisors’ Opinion:
- [By Luis Sanchez CFA (TMFTomahawk)]
Procore Technologies (NYSE:PCOR), a leading provider of construction management software, went public in May. In this episode of Industry Focus: Energy, Procore founder and CEO Tooey Courtemanche joins the show to share how Procore is bringing construction into the 21st century.
Top Oil Stocks To Invest In 2023: Range Resources Corporation(RRC)
Range Resources Corporation, an independent natural gas company, engages in the acquisition, exploration, and development of natural gas properties primarily in the Appalachian and southwestern regions of the United States. The company?s Appalachian region drilling and producing activities include tight-gas, shale, coal bed methane, and conventional natural gas and oil production in Pennsylvania, Virginia, Ohio, and West Virginia. It owns 4,969 net producing wells, approximately 2,750 miles of gas gathering lines, and approximately 1.8 million gross acres under lease. The company?s Southwestern drilling and producing activities cover the Barnett Shale of North Texas, the Permian Basin of West Texas and eastern New Mexico, the East Texas Basin, the Texas Panhandle, and the Anadarko Basin of Western Oklahoma. It owns 1,954 net producing wells, as well as approximately 886,000 gross acres under lease. As of December 31, 2010, Range Resources Corporation had had 4.4 Tcfe of pr oved reserves. It sells gas to utilities, marketing companies, and industrial users. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. Range Resources Corporation was founded in 1975 and is headquartered in Fort Worth, Texas.
- [By Matthew DiLallo]
Shares of Range Resources (NYSE:RRC) rose more than 10% by 2:30 p.m. EST on Monday after the top-10 natural gas producer reported strong reserve numbers for 2018.
- [By Stephan Byrd]
Range Resources Corp. (NYSE:RRC) – Equities research analysts at Piper Jaffray Companies issued their Q3 2018 earnings per share estimates for shares of Range Resources in a report issued on Sunday, October 7th. Piper Jaffray Companies analyst K. Harrison expects that the oil and gas exploration company will post earnings of $0.17 per share for the quarter. Piper Jaffray Companies currently has a “Buy” rating and a $27.00 target price on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.88 EPS, Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.58 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.45 EPS and FY2020 earnings at $2.02 EPS.
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Range Resources (RRC)
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Top Oil Stocks To Invest In 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.
- [By Motley Fool Transcribing]
Apache (NYSE:APA) Q4 2018 Earnings Conference CallFeb. 28, 2019 11:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [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.