|Bid||0.00 x 39400|
|Ask||0.00 x 29200|
|Day's Range||10.93 - 11.50|
|52 Week Range||10.76 - 26.33|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||2.15|
|Expense Ratio (net)||0.35%|
Analysts typically rate stocks "buy," "hold" or "sell," or some derivatives of those adjectives. "Progress," however, is not an analyst rating. If it was, General Electric (NYSE:GE) would be a screaming "progress."Source: Shutterstock Last week, the company reported second-quarter earnings per share, excluding some items, of 17 cents on revenue of $28.83 billion, beating analysts' average estimates of 12 cents on sales of $28.68 billion. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What The company also boosted its full-year EPS guidance to 55 cents to 65 cents, up from its previous guidance of 50 cents to 60 cents. General Electric stock promptly rewarded investors with a six-day skid.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGE stock price is up about 50% from its 52-week low, and earlier this year, General Electric stock was more than 80% below its all-time high. Those stats indicate investors can either say that the easy money has already been made or believe that there's more easy money to come in General Electric stock.Sell-side analysts are sharply divided on the outlook of General Electric stock."Half of the analysts covering the company rate shares a Buy, with an average price target of more than $15 a share, according to FactSet. Analysts with a Sell rating have an average target price closer to $5 a share," according to Barron's. Oil WoesWhile General Electric is a smaller company today in terms of number of operating units than it was 10 or 20 years ago, it's still a sprawling company with many businesses that can help or hinder the performance of GE stock price. With oil prices tumbling, General Electric stock is vulnerable because of the company's exposure to the oil-services sector.Oil prices trended higher earlier this year, providing a tailwind for General Electric stock. But the primary customers of GE's oil & gas unit are oil services providers and exploration and production firms At the moment, those are not healthy industries.In 2019, the SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) and the VanEck Vectors Oil Services ETF (NYSEARCA:OIH) are lower by 17.60% and 13.47%, respectively. Additionally, the expected growth of global electric-vehicle demand is a major headwind for the oil patch and its vendors, like GE.By some estimates, oil needs to fall to $20 per barrel to be competitive with electric vehicles. If oil falls to $20 per barrel, some of GE's oil and gas customers will probably go out of business.Of course, not all of GE's issues are oil and gas-related. The company's Power unit took a $22 billion write-down, leaving it with no goodwill."GE Capital, furthermore, remains an overhang on the stock, particularly related to its insurance liabilities, as well as required additional capital contributions from industrial GE," said Morningstar in a recent note. "We estimate these contributions amount to a run-rate of just over $1.3 billion from 2020 to 2023, after an additional $2.5 billion contribution in the latter half of 2019." There's A Bull Case on General Electric Stock, TooIt's not all gloom and doom for General Electric stock. The company's Aviation business, likely its best-performing unit, remains sturdy. And even after GE agreed to sell its biopharma unit, the owners of General Electric stock should be excited about GE's healthcare business."Our experts inform us that GE and Siemens are (usually) the only two vendors actively considered by large hospital networks," according to Morningstar. "As such, we assume GE can relatively maintain share on the strength of new product introductions and its installed base," it stated.GE's earnings quality is improving, but in order for GE stock to justify the current consensus price target of around $11, the company probably needs to report EPS north of 60 cents for 2019. That's above the low end of its guidance.As of this writing, Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post GE's Progress Doesn't Mean General Electric Stock Is a Buy appeared first on InvestorPlace.
Oil price saw a tumultuous ride on dual attack by the Fed and Trump. Both crude and Brent saw their worst daily performance in more than four years, plunging more than 8% each.
Equity-based energy sector ETFs have recently struggled, but funds with more focused objectives can offer investors several different paths to gain exposure to a recovery. Investors expecting oil or gas prices to rally might want to consider adding exposure to upstream companies involved in exploration and production, as offered by VanEck Vectors Unconventional Oil & Gas ETF (FRAK) , whereas those who believe crude oil prices may fall or that demand for refined products will rise might consider exposure to downstream refiners and marketing companies, such as VanEck Vectors Oil Refiners ETF (CRAK) . There are benefits to that scenario, but it also exposes the domestic energy patch to trade volatility, such as the tensions seen between the U.S. and China earlier this year.
On July 11–18, major energy ETFs had the following correlations with US crude oil active futures: the Energy Select Sector SPDR ETF (XLE): 42% the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 32.3% the Alerian MLP ETF (AMLP): 23.1% the VanEck Vectors Oil Services ETF (OIH): 12.3% Notably, US crude oil active […]
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.
As is often the case, shares of oil services providers and the related exchange traded were highly sensitive to crude's gyrations in the second quarter, prompting a nearly 16% for the VanEck Vectors Oil ...
In the next quarter, the US crude oil production might increase. For the week ending June 14, US crude oil’s weekly production was at 12.2 million barrels per day—near its record high.
Brent rose about 5% last week - its first weekly gain in five weeks - while crude jumped about 10% - its biggest weekly percentage gain since December 2016.
US crude oil active futures have risen 8.6% in the trailing week, which might have boosted or limited the downside in OIH, XOP, XLE, and AMLP. They have returned 5.8%, 5%, 3.7%, and -0.7%, respectively.
In the next quarter, the US crude oil production might rise—an important factor that might kill any upside in oil prices. For the week ending June 7, US crude oil's weekly production was near its record high of 12.3 MMbpd.
The EIA is scheduled to release its oil and natural gas inventory data on June 19 and June 20. The data will likely be a short-term driver for oil and natural gas prices. Any disappointment in the US crude oil inventory report will likely be a concern for oil prices.
C&J Energy Services Inc. and Keane Group Inc. announced Monday a merger-of-equals deal to create a diversified oilfield services company with a combined enterprise value of $1.8 billion, including $255 million in debt. Under terms of the deal, C&J shareholders will receive 1.6149 Keane shares for each C&J share they own. Based on Friday's closing prices, that values C&J stock at $11.29 each, or a 5.3% premium. After the deal closes, which is expected to occur in the fourth quarter of this year, C&J and Keane shareholders will each own 50% of the equity of the combined company. "The merger of equals unites two great companies, resulting in a broader portfolio of well completion services across an even greater footprint in the U.S., benefiting our combined employees, shareholders, customers, suppliers, and the communities in which we operate," said Keane Chief Executive Robert Drummond. C&J's stock has tumbled 33.8% over the past three months and Keane shaes have shed 28.7%, while the VanEck Vectors Oil Services ETF has lost 22.5% and the S&P 500 has gained 2.35.
From the YFi Interactive touch screen, Jared Blikre joins Alexis Christoforous and Brian Sozzi to break down the latest moves in WTI Crude Oil futures (CL=F, CLQ19.NYM) and Gold futures (GC=F, GCQ19.CMX).