|Bid||11.60 x 900|
|Ask||11.67 x 308300|
|Day's Range||11.43 - 11.69|
|52 Week Range||9.23 - 16.24|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||2.20|
|Expense Ratio (net)||0.73%|
Iranian media said Friday that the country's Revolutionary Guard seized a British-flagged oil tanker. “We are presently unable to contact the vessel which is now heading north towards Iran,” the ship's managers said in a statement, according to The Guardian.
There were some encouraging economic data points and some disappointments out of China Monday, but oil exchange traded funds barely responded with the United States Oil Fund (USO), which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund (BNO) , which tracks Brent crude oil futures, trading slightly lower early in the session. The International Energy Agency projects consumption to increase each quarter of 2019 year-over-year, albeit at a slower-than-usual pace for the first quarter.
On Monday, Brent crude oil active futures settled $6.9 higher than the WTI crude oil active futures. On July 8, the spread was at $6.45.
Between February 11, 2016, and July 15, 2019, WTI crude oil prices rose 127.3%. The United States Oil Fund LP (USO) gained 53.9% in the period.
Exxon Mobil (NYSE:XOM) stock is up 14% year-to-date, and that's a disappointment. First because it is lagging the S&P 500, which is up 20%. Second, because it's even worse when you consider that the United States Oil Fund, LP (NYSEARCA:USO) is up a whopping 30%-plus for the same period.Source: Shutterstock Clearly the XOM stock price needs to catch up. Today we discuss the opportunity that could help it do just that.First let's do our due diligence and eliminate the possibility that there is something wrong with the company. Spoiler alert: The company is fine, it's the stock that is slightly sick.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFundamentally, Exxon Mobile stock sells at an 18 trailing price-to-earnings ratio and 1.2 times sales. Those levels are in line with Chevron (NYSE:CVX). So it's definitely not bloated. Owning it here is reasonable just from that perspective alone. This is before noting the fact that it also pays 4.5% yield to reward its shareholders while they wait.Crude oil price have been on fire of late. Higher oil prices usually translate into favorable price action for the major oil companies. Today's point is that there is a technical opportunity in the Exxon stock that could have a 5% rally brewing. XOM Stock Beyond the NumbersNow that we established that the Exxon fundamentals are solid, we can move on to the real opportunity today which is the technical one. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond The Exxon chart looks like a breakout waiting to happen. The simplest way of seeing this is through a series of higher lows knocking on a neckline. What makes this interesting is the location of that line.XOM stock had a similar setup in April, but from the much higher $84 per share level. That opportunity failed miserably in late April and the stock tumbled 15%. But some of that was also the fact that oil prices in general also collapsed. Light sweet crude fell to $50 per barrel and negative sentiment there capitulated. That was the opportunity to go long oil stocks.The good news there is that the bulls held the higher-lows trend. XOM stock found support exactly where it needed it. The cluster of prices around $72 per share was the consolidation area from January and it held.And as such, XOM bottomed late May. The June rally so far brings it back to half-back test of the April stock accident. This week, Exxon Mobil stock made its third attempt at this breakout from $78 per share. The reason this is important is because it's not only the halfway mark of a major correction, but it also coincides with a pivot level that dates back to 2015. Click to Enlarge Such significant levels are usually pivotal, so they offer resistance. But when that fails, then the bulls can overwhelm the sellers and overshoot higher. In this case, the first target is $82 per share, which would close the gap that happened on the last earnings report for Exxon. Above $82 per share, there are more technical opportunities but they are resistance first until they, too, fail.XOM stock can do this, but it will need the help of not just the markets in general, but also the price for crude oil. And those prices rebounded hard off of the recent drop and when that happens they tend to hit some resistance. Looking at the price of crude oil of late there are important levels to note and the shape of the chart is very similar to XOM. So this stock is not alone in this fight as the opportunity is here for the whole energy sector.So in summary, although this opportunity is short-term in nature because it's based on the charts, it also works for the long-term. Chevron and Exxon are excellent energy companies and for the long-term have rewarded their shareholders well. First in terms of capital appreciation and second from their dividends. These are bulletproof companies where the dividend is not in question. This makes the institutional interest in these stocks a form of support for them. So I can own Exxon for the long-term even from here.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy for Less Than Book * 7 Marijuana Stocks With Critical Levels to Watch * The 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond The post Exxon Mobil Stock Has a Breakout Opportunity Here appeared first on InvestorPlace.
Fed's rate cut optimism, oil price rally, large-cap outperformance and U.S.-China short-term trade negotiations boosted Dow Jones to this height, benefiting Dow-heavy ETFs.
In an oil patch held hostage by constant, but always changing geopolitical and macroeconomic risks, the price charts in ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) are quite clear. For bullish investors it's better to buy shares of CVX rather than XOM stock, if you're interested in exploiting total returns on your investment. Let me explain.From weekly inventory reports, to overseas conflicts in oil bearing regions like Iran or the daily shifts in investor sentiment regarding the U.S. China trade war- it's hard to keep up with what's moving the price of black gold. And with shares of the US Oil Fund ETF (NYSEARCA:USO) up 2.50% Wednesday, but challenging the 200-day simple moving average, I'm glad to let other bulls and bears fight that battle.As I'll explain below though, if we can get past what some say is a coin flip situation for sector giants ExxonMobil or Chevron, the technical case clearly favors owning CVX over XOM stock for those seeking total returns down the road.InvestorPlace - Stock Market News, Stock Advice & Trading Tips XOM Stock: NeutralShares of ExxonMobil have been a cherished Dividend Aristocrat for many income-seeking investors. And in 2019, that's still the case for XOM stock. But on the monthly chart shares are showing some concerning price action which shouldn't be ignored. * 7 Retail Stocks to Buy for the Second Half of 2019 A longstanding dividend-adjusted uptrend of around 17 years in duration was breached late last year. In of itself, the brief failure of support was only modestly bearish. But the subsequent inability of XOM to break through its inverted triangle pattern resistance formed near the stock's all-time-highs set back in 2014, definitely raises some flags. Don't get me wrong though. I'm not writing XOM stock off as a bearish play at this time. Click to EnlargeAs the annotated chart also reflects, the fact XOM shares failed to fully breakdown this spring and remain near the midpoint of the inverted triangle could be construed as a positive for ExxonMobil bulls. Still, I'm no gambler, even if the company is paying other investors 4.55% to sit tight. At the end of the day or at least until another monthly candlestick forms to tell me otherwise, I'm advising readers to stay neutral on XOM stock. CVX Stock: BuyChevron is also a Dividend Aristocrat. But unlike XOM stock, shares of CVX are showing much healthier, longer-term price action. This is offering investors the opportunity for a total return purchase where capital gains can far outstrip the company's attractive-looking forward income stream of 3.86%.Bottom-line, despite Chevron's runner-up status in market capitalization, CVX stock has distanced itself technically from XOM the past few years. This can be seen in Chevron's more recent all-time-high notched in January 2018 and its uncontested uptrend dating back to 2002. Click to EnlargeNow and following 18 months of mostly lateral and well-supported consolidation work since hitting all-time highs, Chevron shares are in position to be purchased. And it doesn't take a rocket scientist or a petrol engineer to appreciate the recommended strategy for total return seeking investors is to put CVX stock on the radar for buying on a pattern breakout through $126.38.Disclosure: Investment accounts under Christopher Tyler's management do not own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies, related musings or to ask a question, you can find and follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy on College Students' Radars * 7 Retail Stocks to Buy for the Second Half of 2019 * The S&P 500's 5 Best Highest-Yielding Dividend Stocks The post ExxonMobil or Chevron? An Easy Buy Decision appeared first on InvestorPlace.
The United States Oil Fund (USO) , which tracks West Texas Intermediate crude oil futures, struggled early in the third quarter with oil prices residing near where they did in the first quarter. Investors considering USO or other oil exchange traded products have several factors to consider including the Organization of Petroleum Exporting Countries (OPEC). The International Energy Agency projects consumption to increase each quarter of 2019 year-over-year, albeit at a slower-than-usual pace for the first quarter.
Last week, US crude oil August futures fell 1.6%. US crude oil August futures closed at $57.51 per barrel on Friday. SPY rose 1.7% last week.
On Monday, OPEC reached a deal to extend its crude oil production cuts until March 2020. On Tuesday, Russia and nine other non-OPEC oil producers also reached a deal to cap oil production in an effort ...
Technically speaking, the S&P 500 has reached all-time highs to start July against a comfortably bullish bigger-picture backdrop, writes Michael Ashbaugh.
Oil prices were trading lower Tuesday morning despite OPEC and its allies reaching an agreement to extend supply cuts for another nine months. Agreement Reached OPEC and officials from other oil producing ...
The United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, notched a modest June gain, but the next few days could be crucial for oil exchange traded funds as headlines ...
OPEC and its allied nations will gather in Austria Monday and Tuesday with a key topic of conversations the extension of the 2017 production cuts. Saudi Arabia's energy minister said most of the OPEC members want a nine-month extension of supply cuts, CNBC reported. Iraq's oil minister told reporters he isn't expecting any complications in reaching a resolution.
At 7:12 AM ET on July 1, US crude oil active futures were trading 2.2% higher compared to last week. Energy stocks might open higher on July 1 due to oil's gains.
Trump, Xi, to Meet on Saturday As Global Economy Hangs In Balance President Trump will be meeting with China’s Xi Jinping this weekend, but won’t cow to any conditions on the use of tariffs, which raises the question of what the two will be talking about. One official said that an agreement not to raise […]The post Market Morning: Trump vs Xi, Ali, & Powell, Bank of America Sees $30 Oil appeared first on Market Exclusive.
On June 24, Brent crude oil active futures settled ~$6.96 higher than the WTI crude oil active futures—the lowest level since April 9. On June 17, the spread was at $8.77.
President Donald Trump signed an executive order Monday imposing additional sanctions on Iran following the country's shoot-down last week of a U.S. military surveillance drone. The United States already has sanctions on the country that were reimposed after pulling out of a 2015 nuclear accord that the U.S. and other nations reached with Iran in an effort to put an end to its nuclear weapons aspirations. Brian Hook, the U.S. special representative to Iran, said on CNBC over the weekend that the goal of tightening the screws on Tehran now is to resume negotiations.