W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Seaport Global Securities lifted their Q3 2018 EPS estimates for shares of W&T Offshore in a research report issued to clients and investors on Wednesday, September 26th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the oil and gas company will post earnings per share of $0.16 for the quarter, up from their prior estimate of $0.14. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for W&T Offshore’s Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.19 EPS and FY2019 earnings at $0.76 EPS.
Get W&T Offshore alerts:W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $149.60 million during the quarter, compared to analyst estimates of $150.66 million. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS.
Hot Oil Stocks For 2019: ConocoPhillips(COP)
Advisors' Opinion:- [By Chris Lange]
The number of ConocoPhillips (NYSE: COP) shares short fell to 11.23 million from the previous 11.83 million. Shares were trading at $78.28, within a 52-week range of $48.70 to $78.61.
- [By Chris Lange]
The number of ConocoPhillips (NYSE: COP) shares short decreased to 10.58 million from the previous 10.90 million. Shares were trading at $68.09, within a 52-week range of $52.54 to $80.24.
- [By Matthew DiLallo]
While those issues led many oil companies to abandon Alaska over the years, ConocoPhillips (NYSE:COP) was one of a handful that remained committed to the state's oil potential. That commitment is starting to pay off as changes in the state's tax code alongside some technological advancements have given the company the incentive and the tools to explore for new oil resources. Those exploration efforts are starting to get results, so much so that now ConocoPhillips is making plans to increase its wager on Alaska's oil future.
- [By Shane Hupp]
ConocoPhillips (NYSE:COP) VP Glenda Mae Schwarz sold 6,763 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $65.04, for a total value of $439,865.52. Following the sale, the vice president now directly owns 10,182 shares of the company’s stock, valued at approximately $662,237.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
- [By Zacks]
Moreover, BP opened 100 retail sites in the country in 2017 and plans to open 1,400 more by 2021. The largest publicly traded oil company, ExxonMobil Corporation (NYSE: XOM) opened its gas stations in Mexico in December, while one of the world's biggest independent oil producers – ConocoPhillips (NYSE: COP) – showed interest in Mexico, post-reform.
- [By Max Byerly]
Rockefeller Capital Management L.P. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 57.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,409 shares of the energy producer’s stock after selling 686,670 shares during the period. Rockefeller Capital Management L.P.’s holdings in ConocoPhillips were worth $35,883,000 at the end of the most recent quarter.
Hot Oil Stocks For 2019: Transocean Inc.(RIG)
Advisors' Opinion:- [By Jon C. Ogg]
Transocean Ltd. (NYSE: RIG) started as Overweight with a $15 price target, which represented an implied upside call of 25% compared with the prior day’s $11.93 closing price. Elsewhere, Wells Fargo raised it to Outperform from Market Perform with an even more aggressive $16 price target, and BTIG initiated Transocean with a Buy rating and with an $18 price target just a day earlier. The stock closed up 2.9% at $11.93 on Tuesday, and it was up 3.3% at $12.33 in Wednesday’s midday trading. The 52-week range is $8.70 to $14.34, and the prior consensus price target of $12.61 ticked up to above $13 after the calls.
- [By Matthew DiLallo]
Shares of RigNet are up more than 18% since the announcement. However, the company's stock price had been in rally mode well before that news, rocketing 75% since the end of July. While some notable improvements in its second-quarter results likely helped ignite this rally, the company is also benefiting from the belief that the long-awaited offshore drilling recovery is beginning to unfold. The most recent comments supporting that view came from Transocean's (NYSE:RIG) CEO Jeremy Thigpen. He stated last week that he expects lease rates on rigs to improve, and that contracting activity should pick up in late 2019. Based on that outlook, he said that "we are far more bullish than we have been historically," which is one reason Transocean recently made another major acquisition.
- [By Joseph Griffin]
An issue of Transocean LTD (NYSE:RIG) debt rose 1.3% as a percentage of its face value during trading on Wednesday. The debt issue has a 6.8% coupon and will mature on March 15, 2038. The debt is now trading at $84.56 and was trading at $83.13 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
Hot Oil Stocks For 2019: Halliburton Company(HAL)
Advisors' Opinion:- [By Chris Lange]
The stock posting the largest daily percentage loss in the S&P 500 ahead of the close was Halliburton Co. (NYSE: HAL) which fell about 6% to $37.05. The stock's 52-week range is $36.82 to $57.86. Volume was about 18 million compared to the daily average volume of about 8 million.
- [By Matthew DiLallo]
In July of 2017, industrial giant GE (NYSE:GE) merged its oil and gas business with Baker Hughes (NYSE:BHGE) to create an oilfield services and equipment giant. Based on revenue, the deal pushed it past Halliburton (NYSE:HAL) to become the second-largest oil services company behind Schlumberger (NYSE:SLB). That larger scale positioned it for significant upside in the eventual oil market recovery.
- [By ]
That investment would likely benefit both Schlumberger and Baker Hughes, but more so their competitor Halliburton Co. (HAL) , which is the most levered to the North American market among the big three oil services providers.
- [By Joseph Griffin]
Mckinley Capital Management LLC Delaware grew its position in shares of Halliburton (NYSE:HAL) by 68.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,626 shares of the oilfield services company’s stock after purchasing an additional 2,689 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Halliburton were worth $311,000 as of its most recent filing with the SEC.
- [By Taylor Muckerman]
In this week's episode of Industry Focus: Energy, host Sarah Priestley and analyst Taylor Muckerman go through a grab bag of questions from listeners. They explain the issues surrounding Permian Basin production, why investors might want to check out midstream company Enterprise Products Partners (NYSE:EPD), a few important things to know about oil services companies Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB), and what might become of the beleaguered offshore industry.
- [By Tyler Crowe]
If you want to take the pulse of the North American oil and gas market, one of the best places to start is Halliburton's (NYSE:HAL) quarterly conference call. As the largest oil services company in North America and with clients of all sizes across every shale basin, management has an intimate knowledge of what is going on in the oil patch at any given moment. Listening to, or reading a transcript of, Halliburton's quarterly conference calls can give investors insights into the market that can help steer investment decisions.
Hot Oil Stocks For 2019: Williams Partners L.P.(WPZ)
Advisors' Opinion:- [By Matthew DiLallo]
Overall, earnings at both Williams and its MLP Williams Partners (NYSE:WPZ) were down slightly versus the year-ago period due to asset sales, while cash flow modestly increased thanks to lower interest expenses.
- [By Dan Caplinger]
The stock market stayed in a pretty narrow range on Thursday, climbing early in the session but then slowly drifting lower through the afternoon hours. In the absence of major news, investors largely looked forward to key events like trade negotiations among the world's largest economies. Other financial markets saw mixed moves as well, with 10-year Treasury yields climbing above 3.1% while oil prices stayed comfortably above $70 per barrel. Despite the quiet day, some companies had good news that pushed their shares sharply higher. World Wrestling Entertainment (NYSE:WWE), Chesapeake Energy (NYSE:CHK), and Williams Partners (NYSE:WPZ) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
- [By Matthew DiLallo]
Williams Companies (NYSE:WMB) was off to a great start in 2018 thanks to the growth of its majority-owned master limited partnership, Williams Partners (NYSE:WPZ). There's plenty more where that came from, which was clear from the comments of CEO Alan Armstrong on the accompanying quarterly conference call. While he didn't fill in every detail about what lies ahead, he made sure investors knew that the company's future looks bright.
- [By Matthew DiLallo]
Natural gas pipeline giant Williams Companies (NYSE:WMB) announced today that it agreed to acquire the rest of its master limited partnership (MLP) Williams Partners (NYSE:WPZ) that it didn't already own in a $10.5 billion deal. Not to be outdone, Canadian energy infrastructure giant Enbridge (NYSE:ENB) made an offer to acquire its namesake MLP Enbridge Energy Partners (NYSE:EEP), along with the rest of its publicly traded entities, including Spectra Energy Partners (NYSE:SEP). These transactions have big implications not only for investors in these entities but for those who own other pipeline companies, too.
- [By Shane Hupp]
SG Americas Securities LLC lowered its holdings in Williams Pipeline Partners LP (NYSE:WPZ) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,682 shares of the pipeline company’s stock after selling 14,458 shares during the quarter. SG Americas Securities LLC’s holdings in Williams Pipeline Partners were worth $1,297,000 at the end of the most recent reporting period.
Hot Oil Stocks For 2019: Range Resources Corporation(RRC)
Advisors' Opinion:- [By Ethan Ryder]
Get a free copy of the Zacks research report on Range Resources (RRC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [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 Max Byerly]
Range Resources Corp. (NYSE:RRC) has received an average recommendation of “Hold” from the thirty ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.11.
- [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 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 Shane Hupp]
Toronto Dominion Bank increased its holdings in Range Resources Corp. (NYSE:RRC) by 25.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,421 shares of the oil and gas exploration company’s stock after purchasing an additional 24,839 shares during the period. Toronto Dominion Bank’s holdings in Range Resources were worth $1,794,000 as of its most recent SEC filing.
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