Iraq said OPEC should resist pressure to increase oil supplies, strengthening opposition to plans by Saudi Arabia as the group prepares to meet next week.
OPEC’s second-biggest producer said supply curbs by the cartel haven’t yet achieved their purpose, with oil prices still below the desired level. Its defiance follows similar resistance from Iran and Venezuela, meaning three of the five countries that founded OPEC now oppose the Saudi plan.
The U.S. has reportedly asked Saudi Arabia and others to relax output restraints put in place in early 2017 as prices near $80 a barrel pose a threat to economic growth. Last month, the kingdom and partner Russia proposed increasing supplies later this year, without first consulting OPEC members.
“Producers from within and outside OPEC have not yet reached the goals set,” Iraqi Oil Minister Jabbar al-Luaibi said in a statement. Iraq “rejects unilateral decisions made by some producers which do not consult with the rest.”
Top Oil Stocks To Buy For 2018: Encana Corporation(ECA)
Advisors' Opinion:- [By Max Byerly]
Here are some of the news stories that may have effected Accern Sentiment’s rankings:
Get Encana alerts: Encana Corp (ECA) Rising Higher 7.95% Over the Past Four Weeks (fisherbusinessnews.com) Encana Corporation (ECA) Most Active Stock Price trades 19.10% off from 200- SMA (nasdaqchronicle.com) Mid-Day Movers ��: Encana Corporation (NYSE:ECA), CSX Corporation (NASDAQ:CSX), MGIC Investment Corporation … (journalfinance.net) Featured Stock: Encana Corporation (ECA) (stockquote.review) Active Stock Evaluation �� Encana Corporation (NYSE: ECA) (financerater.com)ECA has been the subject of a number of research analyst reports. Morgan Stanley raised shares of Encana from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $15.00 to $18.00 in a report on Wednesday, January 24th. Evercore ISI raised shares of Encana from an “in-line” rating to an “outperform” rating and upped their price target for the company from $10.84 to $16.00 in a report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Encana from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Scotiabank raised shares of Encana from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $13.00 to $14.00 in a report on Friday, February 16th. Finally, Goldman Sachs cut their price target on shares of Encana from $17.25 to $14.00 and set a “buy” rating for the company in a report on Friday, April 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.28.
- [By Joseph Griffin]
These are some of the media stories that may have effected Accern’s scoring:
Get Encana alerts: Should You Listen to This Stock? Encana Corporation (ECA) moves 51.44% away from One Year Low (nasdaqchronicle.com) Hot Mover of the Day �� Encana Corporation (NYSE:ECA) (thestockgem.com) Enrapturing Stocks: Encana Corporation, (NYSE: ECA), AmTrust Financial Services, Inc., (NASDAQ: AFSI) (globalexportlines.com) Analysts, Options Traders Love This Lesser-Known Energy Stock (schaeffersresearch.com) Encana Corp (ECA) Expected to Announce Quarterly Sales of $1.12 Billion (americanbankingnews.com)ECA traded up $0.27 on Thursday, hitting $12.47. 9,071,326 shares of the stock were exchanged, compared to its average volume of 9,380,907. Encana has a 12 month low of $8.01 and a 12 month high of $14.31. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 1.98 and a beta of 2.00.
- [By ]
Already, shale companies such as Encana (ECA) , Occidental Petroleum (OXY) and Pioneer Natural Resources (PXD) , among others, are reporting higher cash flows and earnings on higher oil prices. As a result, they are paying down debt, increasing dividends and engaging in buybacks. This is a dramatic improvement in shareholder yield for the group.
- [By Keith Noonan, Travis Hoium, and Matthew DiLallo]
We asked three Motley Fool investors to profile some of the best under-the-radar growth stocks on the market today. Read on to see why they selected Encana�(NYSE:ECA), Activision Blizzard (NASDAQ:ATVI), and Baozun (NASDAQ:BZUN) as top growth stocks for in-the-know investors.
- [By Ethan Ryder]
Encana (NYSE:ECA) (TSE:ECA) had its target price raised by Morgan Stanley from $16.00 to $20.00 in a research report report published on Wednesday morning. Morgan Stanley currently has a buy rating on the oil and gas company’s stock.
Top Oil Stocks To Buy For 2018: Whiting Petroleum Corporation(WLL)
Advisors' Opinion:- [By Logan Wallace]
Whiting Petroleum Corp (NYSE:WLL) – Seaport Global Securities increased their Q1 2019 earnings per share (EPS) estimates for shares of Whiting Petroleum in a report issued on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now expects that the oil and gas exploration company will post earnings of $0.98 per share for the quarter, up from their previous estimate of $0.55. Seaport Global Securities has a “Buy” rating and a $40.00 price target on the stock. Seaport Global Securities also issued estimates for Whiting Petroleum’s Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.85 EPS, Q4 2019 earnings at $0.89 EPS and FY2019 earnings at $3.58 EPS.
- [By Max Byerly]
Foundry Partners LLC acquired a new stake in Whiting Petroleum Corp (NYSE:WLL) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 108,476 shares of the oil and gas exploration company’s stock, valued at approximately $3,671,000. Foundry Partners LLC owned about 0.12% of Whiting Petroleum at the end of the most recent quarter.
- [By Dan Caplinger]
Friday was a down day on Wall Street, but losses were generally small, and the market closed well above its lowest levels of the session. Initially, investors seemed concerned about further trade tensions between the U.S. and China, but upon further reflection, they appeared to draw comfort from considerable fundamental strength from key sectors of the industrial economy. Even with the overall market recovering from earlier weakness, some stocks still posted substantial declines. Whiting Petroleum (NYSE:WLL), Global Blood Therapeutics (NASDAQ:GBT), and First Solar (NASDAQ:FSLR) were among the worst performers on the day. Here's why they did so poorly.
- [By Jon C. Ogg]
Whiting Petroleum Corp. (NYSE: WLL) was reiterated as Overweight and the target price was raised to $56 from $45 (versus a $50.78 close) at KeyBanc Capital Markets.
- [By Max Byerly]
TCW Group Inc. raised its stake in Whiting Petroleum Corp (NYSE:WLL) by 21.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,733 shares of the oil and gas exploration company’s stock after purchasing an additional 4,618 shares during the period. TCW Group Inc.’s holdings in Whiting Petroleum were worth $871,000 as of its most recent SEC filing.
- [By Joseph Griffin]
Whiting Petroleum Co. (NYSE:WLL) – Equities research analysts at Piper Jaffray Companies lifted their Q2 2018 earnings estimates for Whiting Petroleum in a research note issued on Sunday, May 20th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will earn $0.85 per share for the quarter, up from their previous forecast of $0.33. Piper Jaffray Companies currently has a “Hold” rating and a $46.00 target price on the stock. Piper Jaffray Companies also issued estimates for Whiting Petroleum’s Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.70 EPS, Q2 2019 earnings at $1.48 EPS, Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.59 EPS and FY2019 earnings at $6.24 EPS.
Top Oil Stocks To Buy For 2018: Transocean Inc.(RIG)
Advisors' Opinion:- [By Ethan Ryder]
Quantitative Systematic Strategies LLC bought a new stake in Transocean LTD (NYSE:RIG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 13,609 shares of the offshore drilling services provider’s stock, valued at approximately $135,000.
- [By Tyler Crowe, Matthew DiLallo, and Reuben Gregg Brewer]
While we aren't prognosticators on crude oil prices, there does appear to be a lot�of value in the energy sector at this price level. So we asked three Motley Fool investors to highlight a stock in the sector they like this month. Here's why they picked Enterprise Products Partners (NYSE:EPD), Enbridge (NYSE:ENB), and Transocean (NYSE:RIG).�
- [By Logan Wallace]
American International Group Inc. grew its position in shares of Transocean LTD (NYSE:RIG) by 7.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 872,019 shares of the offshore drilling services provider’s stock after buying an additional 62,611 shares during the quarter. American International Group Inc.’s holdings in Transocean were worth $8,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
- [By The Ticker Tape]
TD Ameritrade clients appeared to take some profits in multiple names during the period. Oil companies were popular sells with ConocoPhillips (NYSE: COP), BP PLC (ADR) (NYSE: BP), National-Oilwell Varco Inc. (NYSE: NOV), and Transocean LTD (NYSE: RIG) all net sold. Oil prices traded near three-year highs on higher global demand and possible OPEC-led production cuts. COP and BP both traded at multi-year highs, while NOV and RIG reached 52-week highs, enticing clients to take profits in all four names. Alcoa Corp. (NYSE: AA) traded at levels not seen since before the financial crisis following proposed tariffs on steel and aluminum, and was net sold. For the third month in a row, Facebook, Inc. (NASDAQ: FB) was net sold after CEO Mark Zuckerberg testified before Congress regarding the misuse of user data and a beat on earnings.
- [By Jason Hall, Tyler Crowe, and John Bromels]
According to three Motley Fool contributors, there are still ample opportunities to profit in the oil and gas segment as some left-behind subsectors start to catch up to the higher price trend. Three in particular that are well-positioned going forward are�Transocean LTD�(NYSE:RIG),�National-Oilwell Varco, Inc.�(NYSE:NOV), and�Devon Energy Corp�(NYSE:DVN).��
- [By John Bromels]
Unless it's not. Which it may not be. There's a big cloud of uncertainty hanging over the company, in part thanks to its status as a very small fish in a very big deepwater ocean that's full of huge, hungry competitors like�Transocean�(NYSE:RIG) and�Ensco�(NYSE:ESV). Questions also abound about its parent company,�Seadrill�(NYSE:SDRL).
Top Oil Stocks To Buy For 2018: ConocoPhillips(COP)
Advisors' Opinion:- [By Matthew DiLallo]
ConocoPhillips' (NYSE:COP) management team has worked tirelessly in recent years to transform the oil company into one that could thrive on lower prices. As a result, it�cashed in during the first quarter�when crude was well above its baseline plan. That strong showing sets the company up for continued success in the coming year -- a key theme running through management's comments on the accompanying conference call, which detailed recent achievements and how they frame what lies ahead.�
- [By ]
As things stand right now, analysts anticipate that at least some Iranian oil will come off the market as a result of the sanctions. That lost output would further tighten an oil market that suddenly has little margin for error thanks to red-hot demand and tame supply growth. That's the recipe for higher oil prices and could make top-tier U.S. oil stocks Anadarko Petroleum (NYSE:APC), Devon Energy (NYSE:DVN), and ConocoPhillips (NYSE:COP) big winners in the coming years.
- [By Ethan Ryder]
Whittier Trust Co. grew its holdings in ConocoPhillips (NYSE:COP) by 15.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 11,978 shares of the energy producer’s stock after acquiring an additional 1,635 shares during the period. Whittier Trust Co.’s holdings in ConocoPhillips were worth $710,000 at the end of the most recent reporting period.
Top Oil Stocks To Buy For 2018: Range Resources Corporation(RRC)
Advisors' Opinion:- [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 Chris Lange]
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Monday was Range Resources Corp. (NYSE: RRC) which rose about 6% to $16.05. The stock��s 52-week range is $11.93 to $25.96. Volume was 8.6 million compared to the daily average volume of 7.4 million.
- [By Tyler Crowe, Matthew DiLallo, and Reuben Gregg Brewer]
So we asked three of our investing contributors to each highlight a company they think has a compelling investment case right now in the oil and gas industry. Here's why they selected Devon Energy (NYSE:DVN), Range Resources (NYSE:RRC), and ExxonMobil (NYSE:XOM).
- [By Joseph Griffin]
Media headlines about Range Resources (NYSE:RRC) have been trending somewhat positive on Saturday, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Range Resources earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave media headlines about the oil and gas exploration company an impact score of 46.3371462950661 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
- [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.
- [By Paul Ausick]
Range Resources Corp. (NYSE: RRC) fell about 4.4% Tuesday to post a new 52-week low of $14.43 after closing at $15.09 on Monday. The 52-week high is $34.93. Volume of about 15 million was nearly double the daily average of around 7.7 million shares traded. The company had no specific news.
Top Oil Stocks To Buy For 2018: Apache Corporation(APA)
Advisors' Opinion:- [By Chris Lange]
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close was Apache Corp. (NYSE: APA) which rose over 5% to $41.75. The stock��s 52-week range is $33.60 to $51.21. Volume was 4.8 million compared to the daily average volume of 4.4 million.
- [By John Bromels]
Three companies that the market has walloped are�Apache Corporation�(NYSE:APA),�Magellan Midstream Partners�(NYSE:MMP), and�General Motors�(NYSE:GM). Here's why these stocks look like bargains, and why today might be a good time to scoop up some shares.�
- [By Jason Hall]
Since oil prices peaked in 2014, both Total and Shell have managed to generate positive total returns for investors who held through the downturn, in large part because of their diverse operations. Neither has come close to outperforming the�S&P 500, but it could have been far worse; one only has to look at some of the biggest independent oil producers, including�Apache Corporation�(NYSE:APA) (down 53%),�Anadarko Petroleum Corporation�(NYSE:APC) (down 33%), and�Continental Resources, Inc.�(NYSE:CLR) (down 12.3%) to appreciate the benefit of Total's and Shell's more diversified operations.�
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