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Earnings season continues to charge on even though most of FANGMAN has already reported.
Over 1500 companies are expected to report earnings this week.
Among them are a big slew of energy producers, including those exploring in the hottest US markets like the Permian.
Most have put in a nice string of beats after last year’s devastating oil price collapse. Their shares have also rebounded off the lows.
Crude prices last peaked in 2008. After 13 long years, has a new bull market in energy finally arrived?
5 Top Energy Charts to Watch This Week
1. ConocoPhillips COP has beat 3 quarters in a row. Shares are up 86% year-to-date but still trade with a forward P/E of just 13.7. Will it bust out to new 5-year highs on the report?
2. Magnolia Oil & Gas MGY is a rare non-hedged oil and natural gas producer. Year-to-date, shares are up 195% but it’s forward P/E is just 9.4. It has beat 4 quarters in a row and shares are at new 5-year highs. Is it too late to get on the train?
3. Pioneer Natural Resources PXD is one of the largest producers in the Permian Basin. It is coming off a miss last quarter but shares are still up 64% year-to-date. It’s also cheap, as its earnings rise, with a forward P/E of just 13.9. It’s been raising the dividend. Will it do so again this quarter?
4. Occidental Petroleum OXY beat big last quarter. It has a big chemical division which should also boost the quarter as chemical prices rise. Shares are up 93.7% year-to-date but it’s not as cheap as some of the others, with a forward P/E of 20.4. Are Occidental’s troubles behind it?
5. EOG Resources EOG has beat 4 quarters in a row. Shares are up 85.4% year-to-date but are still cheap, with a forward P/E of just 11.4. It’s been shareholder friendly this year. EOG’s dividend is yielding 1.8%. Will that continue into the end of the year?
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
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ConocoPhillips (COP): Free Stock Analysis Report
Occidental Petroleum Corporation (OXY): Free Stock Analysis Report
Pioneer Natural Resources Company (PXD): Free Stock Analysis Report
EOG Resources, Inc. (EOG): Free Stock Analysis Report
Magnolia Oil & Gas Corp (MGY): Free Stock Analysis Report
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