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Over just the last six years, global oil demand per day has jumped by 10.14% according to the International Energy Agency (IEA). The bad news is that global oil production continues to fall behind demand. This glut manifested thanks to members of the Organization of Petroleum Exporting Countries (OPEC) who sought to limit the production gains of the US shale and fracking operations by driving down crude prices to make field investment unprofitable.
Royalty interest owner MLP Viper Energy Partners (VNOM) rose ~32% in the third quarter. The stock has risen ~86% year-to-date. Viper Energy Partners’ interest in the Permian Basin, which has witnessed strong activity, as well as support from sponsor Diamondback Energy (FANG), has contributed to the stock’s outperformance in 2018. Learn more in Why Viper Energy Partners Is Analysts’ Favorite Upstream Company and VNOM, BSM: Comparative Analysis of Two Mineral Interest MLPs.
Q3 Earnings Preview: See who joins IBD 50 stocks Netflix, Match Group, Abiomed and Viper Energy on the list of companies expecting 50% to 308% growth.
Ligand Pharmaceuticals Inc (NASDAQ: LGND) is a unique type of biotech company. This is the new age of biotech companies and LGND is a prime example of how it should be done. CyberArk Software Inc (NASDAQ: CYBR) is in one of the hottest and most important tech sectors for the next decade or more – cybersecurity.
The short-stroke and three-weeks-tight patterns offer shareholders a chance to buy more shares. Aggressive traders may use either to initiate or add to an existing stock position.
So far in this series, we have discusses the top four upstream companies based on their one-year returns—Denbury Resources (DNR), California Resources (CRC), W&T Offshore (WTI), and Whiting Petroleum (WLL). In this part, we’ll discuss Viper Energy Partners (VNOM), which is fifth in terms of one-year returns.
Whiting Petroleum (WLL), a North Dakota and Williston Basin focused exploration and production company, is fourth in terms of one-year returns. The company has generated total returns of 137.5% in the past year. All of the returns have been in the form of price appreciation. Similar to Denbury Resources (DNR), Whiting Petroleum is a heavy crude oil–weighted upstream stock. Together, crude oil and natural gas liquids formed ~84% of the company’s total production during the second quarter.
US crude oil has seen a strong rally since the beginning of September. US crude oil breached $72 per barrel. WTI has risen more than 3% in September. The recent positive sentiment in US crude is due to supply concerns amid Iran sanctions. For a recent update and the outlook on US crude oil prices, read Bears Beware: Crude Oil Approaches New High.
Renesola (SOL) continues to benefit from steady flow of domestic and international contracts, on account of growing demand for solar panels, globally.
Royalty interest owner partnership Viper Energy Partners (VNOM) and Enbridge Energy Management (EEQ) were among the top gainers in the MLP and midstream space last week, rising 7.9% and 7.8%, respectively. Viper Energy Partners has risen 77% so far in 2018. Enbridge Energy Partners (EEP) rose 2.4% for the week. Both Enbridge Energy Management and Enbridge Energy Partners were boosted by the acquisition agreement with Enbridge (ENB) that we discussed in the last part of this series.
The Dow led mixed stock market action early Wednesday. IBD 50 stock Copart skidded to a sell signal on weak earnings.
So far in this series, we’ve looked at the top four upstream companies based on analysts’ ratings. Those companies are Viper Energy Partners (VNOM), Earthstone Energy (ESTE), Ring Energy (REI), and WPX Energy (WPX). In this part of the series, we’ll look at Diamondback Energy (FANG), which is in fifth place in terms of analyst ratings.
Viper Energy Partners (VNOM), an upstream company that isn’t directly involved in E&P (exploration and production) activities and is dependent on royalty income from its mineral interests, is Wall Street analysts’ favorite upstream company. VNOM saw two rating upgrades last month. Citigroup and Stifel Nicolaus raised their recommendations to a “buy.” Now, 100% of analysts covering the stock rate it a “buy.” VNOM’s average target price of $41.60 implies a 7% upside potential from its current price.
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Anadarko Petroleum (APC) continues to gain from its focus on domestic assets, and share the benefits with its shareholders through share buybacks and dividend.
Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week. SunTrust Robinson lowered CRZO’s target price to $35 from $36. A total of 71.4% of analysts have rated CRZO as a “buy,” and the remaining 28.6% have rated it as a “hold.”
Viper Energy Partners (VNOM), a mineral interest MLP owned by Diamondback Energy (FANG), is expected to benefit from Diamondback Energy’s merger with Energen Corporation (EGN). Energen Corporation currently owns 266 net royalty acres in the Midland (71) and Delaware (195) Basins. According to the related investor presentation, a significant amount of this acreage has the potential to deliver more than 75.0% NRI (net revenue interest).
Prices have been in a strong uptrend and look to be continuing higher after a failed breakdown below $35.15 and a test of the 200-day moving average (if you're into that sort of thing). Momentum remains in a bullish range, so if prices are above $35.15, our upside objective continues to be $40.75. CyberArk Software Ltd. ( CYBR) is breaking out of a multi-year base to confirm the start of a new structural uptrend. If prices are above $70, we want to be long with an upside objective of $94.30.
Last week, SRC Energy (SRCI) saw a rating downgrade and a target price cut from Baird Equity. Baird Equity downgraded SRC Energy to “neutral,” which is equivalent to “hold” from “outperform,” which is equivalent to “buy.” Baird Equity reduced the target price to $10 from $14. Now, 59.1% of the analysts rate SRC Energy as a “buy,” while 40.9% rate it as a “hold.” Currently, SRC Energy is trading below the low range ($10) of analysts’ target price. The company’s average target price of $14.2 offers ~51% upside from the current price levels.
On August 16, Morgan Stanley resumed coverage on Williams Companies (WMB) with an “overweight” rating on the stock. Morgan Stanley has given a target price of $35 for Williams Companies.
NEW YORK, NY / ACCESSWIRE / August 9, 2018 / Viper Energy Partners LP (NASDAQ: VNOM ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 9, 2018 at 11:30 AM Eastern ...
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