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☆ This little-known water stock is set to rally 40%, Citi says
▼ + stars: | 2024-05-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Select Water Solutions will be a winner thanks to its recent business changes, according to Citi. The company, which provides sustainable water services for the oil and gas industry, recently began a strategic pivot toward its water infrastructure business, which is focused on the management and recycling of produced water. The analyst noted that Select Water Solutions is currently trading at a discount to its peers. The company is currently trading at a little over four times its earnings before interest, taxes, depreciation and amortization over the next 12 months, while its competitor Aris Water Solutions is trading near a 6.5 multiple, he added. Further, the downside risk to slowing demand for frac water appears to have passed with higher oil prices," Gruber said.

Persons: Scott Gruber, Gruber Organizations: Citi, Solutions, Aris Water Solutions, M

☆ Citi expects this underperforming oil and gas stock to turnaround next year with 16% upside
▼ + stars: | 2023-11-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Investors should take a second look at the oil and gas exploration company Ovintiv , according to Citibank. Ovintiv's stock collapsed earlier this year and is down near 12%, underperforming the S & P Oil & Gas Exploration & Production ETF which is up 2% for year. Citi believes Ovintiv's performance in early 2024 will improve with the investment bank putting oil and condensate production 2% above consensus estimates. Ovintiv's production plateau will rise after assessing performance on wells acquired in the Midland acreage earlier this year, according to Citi. Meanwhile, Citi downgraded APA Corp, an oil and gas company with a similar market cap to Ovintiv.

Persons: Scott Gruber Organizations: Citibank, P Oil & Gas Exploration, Citi, APA Corp, APA Locations: Midland, Egypt

☆ These stocks are on the verge of a breakout and earnings could push them over the top
▼ + stars: | 2023-10-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

CNBC Pro looked for stocks that are within 5% of a 52-week high and are up more than 1% so far this month. That is, the consensus price target on these stocks call for a gain of at least 5%. Shares are currently 3.3% off from the 52-week high. Wall Street sees further gains for the name, as analysts' consensus price target suggests upside of 8% from here. Other names on the verge of a breakout include drug wholesale company Cencora , Vertex Pharmaceuticals and natural gas company Targa Resources .

Persons: FANG, Scott Gruber, — CNBC's Michael Bloom Organizations: Google, Microsoft, Amazon, Intel, CNBC, Big Tech, Investors, Diamondback Energy, Analysts, Citi, Diamondback, Citi Research, Vertex Pharmaceuticals, Targa Resources

It's time to buy shares of Transocean , according to Citi. "Transocean is also favorably positioned geographically with the greatest exposure to the Golden Triangle region (Brazil, [Gulf of Mexico], West Africa) amongst peers," Gruber continued. Dayrates refer to the daily costs drilling project operators pay to drilling contractors to rent an oil rig. Transocean shares were up 2.7% Wednesday premarket. RIG YTD mountain RIG in 2023 —CNBC's Michael Bloom contributed to this report.

Persons: Scott Gruber, Gruber, Transocean, Dayrates, EBITDA, —, Michael Bloom Organizations: Citi Locations: Transocean, ., Brazil, Gulf of Mexico, West Africa, Sea, Norway

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