|Bid||123.54 x 1000|
|Ask||123.57 x 1400|
|Day's Range||123.02 - 124.09|
|52 Week Range||100.22 - 127.60|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||15.97|
|Earnings Date||Oct 31, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||4.76 (3.84%)|
|1y Target Est||138.00|
There is an old and very important saying for ETF investors: know what you're buying. With crude oil (WTI and Brent) up about 13% on Monday, one might expect huge gains in oil stocks. The largest Energy ETF (XLE) was up only 3.4%. On the other hand, oil-sensitive ETF's like XOP and OIH were up 9% and 11%, respectively. Why?
The Zacks Analyst Blog Highlights: Chevron, Walmart, ConocoPhillips, TransDigm and Phillips 66 Partners
Investing.com - Oil prices pared losses Wednesday, despite the U.S. government reporting that crude inventories rose unexpectedly last week, as Saudi Arabia said Iran “sponsored” the attacks on its oil facilities.
Nearly as rapidly as oil prices spiked Monday, they violently retreated Tuesday amid talk that Saudi Arabia will be able to restore production from weekend drone strikes faster than was previously expected.Source: rafapress / Shutterstock.com Oil stood in the way of market upside yesterday and the commodity's Tuesday tumble did not provide much in the way of relief, indicating that many market participants are taking a wait-and-see approach to what comes out of the Federal Reserve meeting Wednesday. * 7 Momentum Stocks to Buy On the Dip Even before the rate cut news, the Fed was making headlines today, stepping into the repo market by buying $53.2 billion in securities to ease a sudden spike in short-term interest rates.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"The turmoil in the repo market caused a key benchmark for policy makers -- known as the effective fed funds rate -- to jump to 2.25%, an increase that, if left unchecked, could have started impacting broader borrowing costs in the economy," according to Bloomberg.Regarding the Fed's plans for interest rates, it appears likely that a rate cut of 25 basis points will be unveiled tomorrow, but after that, the central bank could be on pause for the rest of this year.With that in mind, traders pushed the Nasdaq Composite higher by 0.40% while the S&P 500 rose by 0.26%. The Dow Jones Industrial Average added 0.13%. In late trading, just 12 of the Dow's components were pointed higher and just four of those names were up 1% or more. Trade TalkWhat was surprising about the logy performances notched by stocks today was that President Donald Trump made some encouraging comments about the potential for a trade deal with China. Perhaps it was the broad time frame that the president gave that kept stocks from rallying. Aboard Air Force One heading to California, Trump told members of the media that a trade deal could happen soon or around the time of the 2020 election.That broad timeline wasn't enough to really jolt tariff-sensitive Dow stocks higher. For example, Apple (NASDAQ:AAPL) and Nike (NYSE:NKE) were sporting negligible gains in late trading, and most of the rest of the day's Dow winners were either defensive stocks or companies that are not heavily dependent on China as a source of revenue.Speaking of China, there was some good news on that front for at least one Dow component today. Boeing (NYSE:BA) was the blue chip index's leader, gaining about 1%, after the aerospace giant boosted its China demand forecast.The company said it expects China to purchase 8,090 passenger jets through 2038, up from a prior forecast of 7,690 planes through 2037. Those new orders will also be a boon to Boeing's services business, which is becoming an important driver of top- and bottom-line growth for the firm. Dow OffendersUnfortunately, Tuesday's Dow offenders is larger than we'd like to see. Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) can be excused due to the aforementioned drop in oil prices.Home Depot (NYSE:HD) lost about half a percent after Guggenheim analyst Steven Forbes cut his rating on the home improvement retailer to "neutral" from "buy." Forbes said the company's current investment initiatives could pay off over the long run, but over short-term, those spending plans could crimp margins."Bottom line, we find it difficult to see a path to earnings before interest and taxes margin expansion in 2020 as both a) investment spending and b) the associated D&A drag are poised to ramp," said the analyst.In what is likely a case of profit taking after major run high, Caterpillar (NYSE:CAT) traded lower today after entering the day with a gain of more than 15% over the past month. The machinery maker has been highlighted as one of the names that could benefit from higher oil prices, so that factor was at play to the downside. Bottom Line on Dow Jones TodayToday's market action wasn't all that surprising when considering the backdrop riskier assets are contending with. The pullback in oil prices could be a positive because there's always a sweet spot for oil companies and consumers. High gas prices could pinch consumer spending, something that would be a detriment to the broad economy, so today's oil retreat is, in a broader context, a positive.The Fed probably obliges with a rate cut tomorrow, but the devil will be in the details regarding how many more times this year the central bank will ease. If the tone isn't to investors' liking, riskier assets could be roiled.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post Dow Jones Today: Oil Slides, Investors Wait on Fed appeared first on InvestorPlace.
The Zacks Analyst Blog Highlights: U.S. Silica, Chevron, AngloGold Ashanti, Kinross Gold and Barrick Gold
Investing.com - U.S. futures were slightly lower on Tuesday as heightened geopolitical risk and fading hopes for an interest rate cut from the Federal Reserve weighed on sentiment.
Two Saudi Aramco crude oil facilities were attacked by Iran-backed Houthi rebels using drones. At 10:23 AM, Brent crude oil was trading up 11.2% at $67.
(Bloomberg) -- Chevron Corp. could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, Chief Executive Officer Mike Wirth said in an interview with CNBC.The zone can produce as much as 500,000 barrels a day but has been shuttered for at least four years due to a dispute between the two countries.Key TakeawaysThe partition zone, or PZ, is one of several non-producing fields across OPEC countries that could be restarted to fill a void in global oil supply, Wirth said after an attack on Saudi Arabian oil facilities reduced output from the world’s largest crude exporter.Kuwait officials said in July that the country is in talks with Saudi Arabia over restarting production from the field.The two sides resolved the major issues and only had technical points remaining, a person familiar with the discussions said in July.More from the CNBC interviewPresident Trump is doing “exactly the right thing” in authorizing releases from the U.S.’s Strategic Petroleum Reserve, Wirth said.It’s too early to assess the long-term impact on oil prices but the market has become too comfortable with geopolitical risk, he said. “These events demonstrate that these risks are real.”U.S. shale producers won’t immediately be able to increase production to fill the void, Wirth said. “You can’t just flip a switch.”Get MoreSee the full interview here.To contact the reporter on this story: Kevin Crowley in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Catherine Traywick, David MarinoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Oil prices are exploding higher on the day, with crude oil up 13% from its close on Friday. That obviously made big headlines in the stock market today, but it's not propelling energy stocks higher in the manner that many had expected.By now, many of you have likely read about the background story. For those that haven't, this is the short-but-sweet scoop. A drone strike rattled Saudi Arabia over the weekend, forcing the country to cut its oil production in half.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe move is equivalent to about 5 million barrels per day, or roughly 5% of the world's daily production.Here's where things get tricky though. Reports say that the production cut is mostly a precautionary measure and that most of that output should be back online within 48 hours.At first, many believed the attack was carried about Yemen's Houthi rebels. Now it is alleged that Iran is behind the attack, which would significantly ratchet up tensions in the Middle East and potentially implicate a response from other nations outside of it (including the United States). Oil's Big ImplicationsNow you know the backstory on why oil prices are surging. But the implications are incredibly far reaching. * 7 Tech Stocks You Should Avoid Now First, where can oil prices go? Let's keep one thing in mind: Oil prices are back to where they were in June. We're still notably away from the April highs and down significantly year-over-year. So while some may suggest that there's enough supply in the market to keep a lid on oil prices, the charts suggest there could easily be more upside.Impacting supply is a few different factors. The first, can Saudi Arabia actually get a majority of production back online in as little as two days, or is it a save-face move ahead of the eventual Saudi Aramco IPO? Second, will the U.S. and other oil-rich nations make up the difference? While 5 million barrels per day is admittedly a lot of oil, between the rest of the Organization of Petroleum Exporting Countries and the U.S., it seems like most of this deficit could be covered.Will President Donald Trump help eradicate a shortage in supply? He seems eager to, tweeting about tapping into the country's strategic oil reserves and fast-tracking pipeline permits. Lastly, will conflicts be ongoing and will tensions remain high in the Middle East? If the answer is yes, then not only are future supply disruptions possible, but energy investors will price in a risk premium to the oil market.Should we see a big spike in oil prices that sustains for months on end, that may have negative implications going into the fourth quarter and holiday seasons. The last thing consumers need -- both here in the U.S. and globally -- is a substantial rise in gas prices that persists into 2020.Finally, a bulk of Saudi Arabia's production goes to Asia. What implications could that have on China's economy, which is already feeling pressure from the trade war? Energy Stocks Make Big MovesSo far, the spike in oil has had a hit-and-miss impact on the energy sector. The Energy Select Sector SPDR Fund (NYSEARCA:XLE) climbed "just" 3.4% on the day. However, the VanEck Vectors Oil Services ETF (NYSEARCA:OIH) jumped 8.6% in the stock market today.Exxon Mobil (NYSE:XOM), which makes up 23% of the XLE, climbed a lackluster 1.5% on the day. Chevron (NYSE:CVX) makes up 22% of the ETF and jumped just over 2%. It's becoming clear why the XLE showed such little life on the day now.Others were more pronounced, though. Schlumberger (NYSE:SLB) jumped 5.3%, while Halliburton (NYSE:HAL) climbed almost 11% on the day. These are the top two holdings in the OIH, by the way.Occidental Petroleum (NYSE:OXY), BP (NYSE:BP) and Pioneer Natural Resources (NYSE:PXD) climbed 6%, 3.9% and 6.5%, respectively.Let's see if we can get more follow through in energy stocks this week, and what oil prices do over the next few days and weeks. Movers in the Stock Market TodayIt wasn't just energy stocks posting big moves on the day. General Motors (NYSE:GM) fell more than 4% after the United Automobile Workers, comprising 50,000 members, went on a nation-wide strike. It impacts 33 production plants and 22 warehouse facilities. JPMorgan analyst Adam Jonas said it will cost GM 3 cents in earnings per share per day, but that proper inventory management and pricing changes can help offset those losses. He likes GM as a buy-the-dip candidate.Despite winning the streaming rights for the renowned hit "Seinfeld," Netflix (NASDAQ:NFLX) shares were flat on the day. While some may question who wants to watch such an old show, just remember that "Friends" is one of Netflix's top shows. It will lose "Friends" in 2020, along with its other top performer, "The Office"). Unfortunately though, the five-year "Seinfeld" deal won't start until 2021.Shares of MGM Resorts International (NYSE:MGM) were up 2.1% after reports surfaced that Blackstone (NYSE:BX) is in talks to buy the Bellagio and MGM Grand. However, those discussion appear to be ongoing, as no deal has been reached yet (or may be reached at all, for that matter).Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post Stock Market Today: Crude Oil Rockets; Now What? appeared first on InvestorPlace.
Geopolitical risk returned in significant fashion Monday, but fortunately, it didn't involve President Donald Trump and his Twitter (NYSE:TWTR) account. As widely reported over the weekend, drone strikes against Saudi Aramco production facilities knocked about 5% of global daily output offline.Source: ymgerman / Shutterstock.com A Yemeni militant group claimed credit for the attack, but the White House is pointing the finger at Iran, and Saudi Arabia believes it has conclusive proof that the weapons used in the attack were Iranian-made.The kingdom is now racing to restore lost production at the impaired facilities, and while some output can be restored quickly, it will likely be weeks before all that lost production is back online.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Tech Stocks You Should Avoid Now "While President Donald Trump hasn't directly blamed Iran for the attacks, Secretary of State Michael Pompeo has," reports Bloomberg. Two U.S. officials said the location of the damage and weapons used suggest the attack was not launched by the Houthis, who have been fighting the Saudi-led coalition in Yemen for four bruising years.Amid tensions in the Middle East, the Nasdaq Composite fell 0.28% while the S&P 500 dropped 0.31%. The Dow Jones Industrial Average slipped 0.52%, snapping its winning streak at eight days. In late trading, just seven of the Dow's 30 components were higher.Not surprisingly, Dow's big winners on the day were its two energy components - Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX). The two largest U.S. oil companies each gained more than 2% to start the week.This scenario is really easy to explain: lost Saudi supply will boost demand for U.S. oil exports. The U.S. already exports 3 million barrels of crude per day, a figure that could swell to 4 million barrels due to attacks in Saudi Arabia. Apple Stock, AgainYes, Apple (NASDAQ:AAPL) sure does get a lot of run in this space, but usually with good reason. Today, the stock was one of the steadier non-energy names in the Dow, gaining 0.53% on some potentially good news regarding the recently unveiled iPhone 11. Remember that at last Tuesday's new product launch, Apple unveiled three new iPhones - the iPhone 11, the iPhone 11 Pro and the iPhone 11 Pro Max."We think there is inherent upside to Sept-qtr EPS given AAPL isn't staggering their launches but announcing all the three products simultaneously," said Evercore ISI analyst Amit Daryanan in a recent note. "This we think will have a positive impact to revenues and EPS in the sept-qtr, though depending on the reception of these products it may be more of a pulling in of revenues from Dec-qtr." Bearish Dow CommentaryShares of Dow component JPMorgan Chase (NYSE:JPM), the largest domestic bank by assets, slid almost 1% after an analyst said investors shouldn't expect JPM to keep up its lengthy out-performance of the broader financial services group. Long one of the best-performing large-cap names in the S&P 500's third-largest sector weight, JPM is up 23% this year.In a note out today, James Mitchell of Buckingham Research lowered his rating on JPM to "neutral" from "buy," noting the stock is pricey relative to rivals."After materially outpacing the peer group in recent years, [JPMorgan Chase] shares now trade at nearly a 30% premium on a [price-to-earnings] basis," said the analyst. "Much of the fundamental outperformance is being priced in." Dow Jones Bottom LineTensions in the Middle East and subsequent rises in oil prices do make for compelling headlines, but these types of events are usually short-lived. Moreover, the energy sector's weight, one largely controlled by the aforementioned Exxon and Chevron, has been declining in broader domestic equity benchmarks, so it's unlikely there's enough heft in the energy patch to lead the market higher.Indeed, there are other issues for investors to consider over the near-term. For example, China released three economic data points overnight, all of which came in lower than expected. Those were industrial production, retail sales, and fixed asset data.Additionally, the Federal Reserve meets later this week and with talk that some politically vital states are seeing economic softness, the Fed could be compelled to oblige the White House with another rate cut.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post Dow Jones Today: Geopolitical Risk Returns appeared first on InvestorPlace.
Oil stocks were in the spotlight Monday with U.S. crude oil futures up more than 10%. Exxon Mobil and Chevron led the Dow Jones.
Major U.S. stock market indexes traded lower near midday Monday as the stock market tried to adjust to the weekend attack on Saudi Arabian oil facilities. Small caps in the Russell 2000 advanced 0.7%, but the major indexes remained in the red.
Chevron and Exxon Mobil appear more attractive than this stock right now, and the oil sector as a whole should be watched for at least the next couple days.
The major stock indexes were broadly lower early Monday after the attack on Saudi Arabia. Oil prices surged 10%, as Chevron neared a breakout.
Coordinated drone strikes on key Saudi oil facilities sends oil prices higher. Here's a rundown on the big winners and losers from the oil price rally.
Saudi Arabia suffered a drone strike at its Abqaiq crude oil processing facility over the weekend, which happens to be the "most critical" piece of infrastructure in the country. The price of ...
The Trump White House escalates its battle with California. Yahoo Finance's Julie Hyman, Adam Shapiro, Rick Newman, and Patrick DeHaan - GasBuddy Head of Petroleum Analysis.
Get set to pay higher prices at the pump. Analysts say prices will likely rise in coming days after attacks on Saudi Arabia's oil facilities Saturday knocked out more than 5% of global oil supply. That drove gasoline futures up more than 10% Monday. California motorists could get hurt the hardest. Nearly half of all U.S. crude imported from Saudi Arabia goes to the West Coast, and much of that heads to refineries in California. The state relies heavily on imports. That's partly because it's geographically isolated, and it lacks pipelines to connect it with Texas and other states rich in oil. Californians already pay the second highest average gas prices in the U.S. at $3.63 a gallon. The AAA says the national average for regular gas is $2.57 a gallon. Chevron's refineries in the Californian cities of Richmond and El Segundo are among the biggest buyers of Saudi crude. A Chevron spokesman said the company will "take the necessary actions to continue to meet the needs of the marketplace." American motorists have been paying relatively low prices for gas. But a big spike in prices can act as a tax on consumers, whose spending has kept the U.S. economy growing at a time of a global slowdown.
Crude oil spikes after Saudi drone bombings over the weekend and questions pervade about how the U.S. should respond. Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi, Scott Gamm and Bob McNally Rapidan Energy Group Founder and President discuss.