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Occidental Petroleum and Diamondback Energy may be poised to rally after U.S. crude oil prices broke above a key resistance level on Friday, according to the chief market strategist at Miller Tabak. "That paves the way for higher prices," said Bob Yawger, managing director and energy futures strategist at Mizuho Americas. "If crude oil rolls back over, breaks below that level — that's going to tell you that I'm wrong. "And that tells me that if he's buying a stock that's highly leveraged to the price of oil, he believes oil prices are going higher." Just on Friday, Houthi militants claimed responsibility for a missile attack on an oil tanker, while a Ukrainian drone attack on a Russian fuel terminal on the Baltic Sea helped push oil prices higher earlier in the week.
Persons: Miller Tabak, Miller, Matt Maley, Bob Yawger, Yawger, WTI, Maley, It's, Diamondback, Buffett, Warren Buffett, Berkshire Hathaway, Friday's, Houthi Organizations: Occidental Petroleum, Diamondback Energy, West Texas, CNBC, Mizuho Americas, Occidental, Diamondback, United States Oil ETF, Berkshire, Wall Street Locations: Miller Tabak ., China, Occidental, Occidental's, Houston, FactSet, U.S, Russia, Ukraine, Ukrainian, Baltic
There are plenty of stocks other than the so-called "Magnificent Seven" that are appealing right now, top money managers told CNBC on Thursday. The mega-cap tech stocks that make up the " Magnificent Seven " — Apple , Alphabet , Meta , Microsoft , Amazon , Nvidia and Tesla — each gained at least 48% last year. They make up about a quarter of the S & P 500's total market share. For one, software stocks such as Salesforce are adjacent to the Magnificent Seven, have done well and have a "very long trajectory," she said. The energy names Simpson owns are Chevron and ConocoPhillips .
Persons: Bryn Talkington, Bob Pisani, Talkington, Kevin Simpson, Simpson Organizations: CNBC, Microsoft, Nvidia, Tesla, Capital Management, Wealth, Broadcom, Cisco, IBM, Diamondback Energy, Chevron, ConocoPhillips
Energy stocks had a tough 2023, but one trader sees some good ways into the sector this year, naming opportunities in both oil and natural gas. Bill Perkins, CEO and head trader at Skylar Capital Management, said he's "mildly bullish" on oil, but identified several opportunities for retail investors. Outlook for oil Oil prices have been volatile over the past few months. Brent crude oil prices were trading around $77.98 a barrel on Friday. Natural gas Elsewhere within the energy space, Perkins also sees some opportunities in natural gas.
Persons: Bill Perkins, Perkins, Goldman Sachs, Jeff Currie, CNBC's, we're underinvested Organizations: Skylar Capital Management, Devon Energy, EOG, Diamondback Energy, Houthi, Brent, . Federal Reserve, Fed Locations: Asia, West Texas, New Mexico, EOG Resources, Red, Sea
Good news for long-term investors: corporate America paid a record amount in dividends last year, even as the S & P 500 approached a near-record high. A record year for dividends In 2023, companies in the S & P 500 paid out $588 billion in dividends, a new record. S & P 500 dividend yield history (average yield) Since 1936: 3.49% Last 10 years: 1.83% Last 5 years: 1.67% 2023: 1.5% Source: S & P Global Why has the dividend yield been going down? Second, with the exception of 2022, stock prices and particularly the S & P 500 have been on a tear. (% of index members who pay a dividend) S & P 500: 80.1% S & P MidCap: 65.8% S & P SmallCap: 57.8% Source: S & P Global In the S & P 500, 328 companies (65%) increased their dividends (dollar payout) last year.
Persons: Howard Silverblatt, buybacks, Silverblatt, Johnson Organizations: America, P, Global, Coterra Energy, Natural Resources, Diamondback Energy, Companies, Microsoft, ExxonMobil, JPMorgan, Verizon, Johnson, Apple, Federal, & $ Locations: buybacks, Devon, America
Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday. Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. Goldman Sachs recently recommended the pullback in Devon Energy shares as a buying opportunity, citing the company's strong balance sheet as a factor. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday.
Persons: Stocks, Goldman Sachs, Wells Fargo, Gunnar Wiedenfels, Bing Guan Organizations: CNBC Pro, Dow Jones, Nasdaq, CNBC, APA Corp, APA, Devon Energy, Marathon, Marathon Oil, Nvidia, UBS, Qs, Warner Bros Discovery, Angeles Refinery, Reuters, Beta, APA APA Corp, Entertainment, Devon Energy Corp, Oil Corp, Targa Resources Corp, MGM MGM Resorts, HAL Halliburton, McMoRan, Aptiv, WYNN Wynn Resorts, Body, Semiconductor Corp, NVIDIA Corp, Zebra Technologies, Albemarle, Alaska Air Group Locations: Angeles, Carson , California, Freeport
Morning Bid: Rates buzz sustained before Fed loan data
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +5 min
A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Ten-year U.S. Treasury yields have fallen about 50bps from October's peaks and the drop last week was the biggest recoil since March. For now, S&P500 futures are pointing to further slight gains on Monday - which if realized on the cash market later would make for the sixth straight gain and the longest daily run since June. Undermined by the retreat in Treasury yields, the dollar (.DXY) slipped back to the lowest since Sept 20. The backdrop of an easier dollar and Treasury yields provides significant relief for emerging markets, with MSCI's emerging market stock index (.MSCIEF) hitting its highest since Sept 20 too.
Persons: Brendan McDermid, Mike Dolan, Jerome Powell, underscoring, Janet Yellen, Lisa Cook, Huw Pill, Bernadette Organizations: Wall, REUTERS, Federal Reserve, Treasury, U.S, Pacific Rim, South, Ryanair, Europe's, Goodyear Tire &, Aspen, Conterra Energy, Constellation Energy, Diamondback Energy, Vertex Pharmaceuticals, NXP Semiconductors, Bank of England, Reuters, Reuters Graphics Reuters, Thomson Locations: New York, U.S, Gaza, China, Western, San Francisco, South Korean, Asia, Europe, Telesat
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho
He said he'll be paying close attention to several quarterly earnings reports, especially from oil and gas companies. "Now, we will not be oversold next week like we were when we came in on Monday, so I don't expect the kind of strength we got this week," Cramer said. "So, if you have some positions you don't like, it's time to [sell, sell, sell!]." On Monday, Cramer said he'll be waiting to hear earnings results from Coterra and Diamondback Energy , both oil and gas companies he likes. Disney reports after close, and Cramer said it's important the company indicates it has strategic partners with whom it can conduct business.
Persons: CNBC's Jim Cramer, he'll, Cramer, Tuesday's, Warren Buffett, David Zaslov, he's, Fisher, Danaher Organizations: Diamondback Energy, Emerson Electric, Warner Bros Discovery, Kellogg, Disney, Michigan Consumer, Federal Locations: Devon, Occidental, Kellanova, Michigan
Where to watch Rangers vs. Diamondbacks live streams in the USIn the US, the World Series will be exclusively broadcast on Fox. How to watch Rangers vs. Diamondbacks in CanadaSportsnet Plus is streaming all 2023 World Series games in Canada. How to watch Rangers vs. Diamondbacks in AustraliaESPN is your destination for 2023 World Series innings in Australia. World SeriesMonday, Oct. 30 — World Series Game 3: Rangers vs. Diamondbacks, 8:03 p.m. ET on Fox— World Series Game 5*: Rangers vs. Diamondbacks, 8:03 p.m.
Persons: Merrill Kelly, Max Scherzer, Arizona's Brandon Pfaadt, Fox, You'll, ExpressVPN Organizations: Arizona Diamondback, . Texas Rangers, The Rangers, Diamondbacks, Rangers, Fox, TNT Sports, Discovery, Canada Sportsnet, MLB, Australia ESPN, ESPN, Kayo, Sling, US, United, . Diamondbacks, . Rangers Locations: Arizona, Canada, Australia, United States
CrownRock's investment bankers have asked interested parties to submit initial offers next week, two of the sources added. Diamondback Energy (FANG.O), Devon Energy (DVN.N), Marathon Oil (MRO.N) and Continental Resources are also studying potential bids for CrownRock, the sources said. The company is led by Texas billionaire businessman Timothy Dunn and backed by private equity firm Lime Rock Partners. Bloomberg News reported last week that Devon was considering a bid for CrownRock, and that Devon has also held preliminary talks about a tie-up with Marathon. Reporting by David French in New York; Editing by Greg Roumeliotis and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.
Persons: Chris Helgren, CrownRock, Timothy Dunn, Conoco, Devon, David French, Greg Roumeliotis Organizations: ConocoPhillips, REUTERS, Houston, Exxon Mobil Corp, Chevron Corp, Diamondback Energy, Devon Energy, Continental Resources, CrownRock, Marathon Oil, Continental, Diamondback, Exxon, Natural Resources, Chevron, Hess Corp, Lime Rock Partners, EOG Resources, Devon, Bloomberg News, Marathon, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Texas, Conoco, Devon, Midland, Marathon, New York
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
Bernstein upgrading Spirit AeroSystems to outperform from market perform Bernstein said it's bullish on the company's turnaround opportunity. Evercore ISI adds a tactical outperform on Roku Evercore said it sees an attractive entry point for the stock. Evercore ISI reiterates Meta as outperform Evercore said Meta estimates seems reasonable heading into earnings later this week. JPMorgan upgrades Walgreens to overweight from neutral JPMorgan said Walgreens shares are in a "new era." Stephens upgrades Utz to overweight from equal weight Stephens said it sees an attractive entry point for Utz shares.
Persons: TD Cowen, Bernstein, it's bullish, Pat Shanahan, Evercore, hasn't, Piper Sandler downgrades Salesforce, Piper, Wells, Stifel, William Blair, Tim Wentworth, Moffett, Stephens, Morgan Stanley, Apple, Max Organizations: Spotify, Citi, Diamondback Energy, Diamondback, HSBC, Marriott, Bank of America, Alcoa, 2024E, Edison, UBS, Waste Management, Republic Services, Amazon, JPMorgan, Walgreens, WBA, Apple Locations: OKTA, PCG, OW, Wells Fargo
While we don't own companies as mergers-and-acquisition plays, the potential for more tie-ups could have significant implications for our remaining oil name: Coterra Energy (CTRA). Chevron's market cap is around $324 billion, while ConocoPhillips is worth roughly $152 billion, based on Thursday's stock prices. Companies in this basket could include Coterra, Devon Energy (DVN) and Diamondback Energy (FANG). Coterra is valued at roughly $22.4 billion Thursday, while Devon and Diamondback are valued at $31.7 billion and $30.5 billion, respectively. The shift has generally been positive for the stock prices of oil companies.
Persons: Gabriele Sorbara, Siebert Williams Shank, Nitin Kumar, I'm, Kumar, Pioneer's, Devon, Paul Cheng, Cheng, Jim Cramer's, Mizuho's Kumar, Jim Cramer, Jim, Paul Ratje Organizations: Exxon Mobil, Natural Resources, Coterra Energy, Exxon, Co, Chevron, ConocoPhillips, Mizuho Securities, Companies, Devon Energy, Diamondback Energy, Marathon, Bloomberg, Scotiabank, Pioneer, Jim Cramer's Charitable Trust, CNBC, Afp, Getty Locations: U.S, West Texas, New Mexico, Coterra, Devon, Oklahoma, Houston
Some analysts recommend buying dividend stocks as a way around it. Morgan Stanley equity strategist Mike Wilson said in an Oct. 9 report that high-dividend stocks are one way investors can navigate the uncertainty. Automaker Stellantis boasted the highest dividend yield of the lot, offering around 10%, with a decent 76% buy rating from analysts, who gave it 28% potential upside. Other automakers that made the cut include Mercedes-Benz , which offered the next highest dividend yield at 8.5%, and Hyundai Motor . Prominent investor Oakmark Funds' Bill Nygren said this week that energy stocks deserve a place in the portfolio , especially when the market is especially volatile.
Persons: Morgan Stanley, Mike Wilson, Oakmark, Bill Nygren, Yun Li, Michael Bloom Organizations: BMO, CNBC Pro, Energy, Stellantis, Benz, Hyundai Motor, Hyundai, ConocoPhillips, Diamondback Energy Locations: Israel
Dealmaking in the U.S. oil and gas patch has picked up pace as producers sought to replenish their inventory after years of under-investment. The most-prized targets for Chevron could be Coterra Energy (CTRA.N) or Devon Energy (DVN.N), he added. Others mentioned included Matador Resources (MTDR.N), Permian Resources (PR.N) and Diamondback Energy (FANG.O). Still, the Exxon deal, the industry's largest since 2016, also set off worries about stiff regulatory scrutiny over anti-competitive concerns. Exxon does not anticipate antitrust hurdles to complete the deal, expected by early 2024.
Persons: Exxon Mobil's, Gabriele Sorbara, Siebert Williams Shank, Sorbara, Dado Ruvic, Andrew Dittmar, Elizabeth Warren, Sven Del Pozzo, Mrinalika Roy, Chris Sanders, Sriraj Organizations: Exxon, Natural Resources, Co, Chevron, ConocoPhillips, ExxonMobil, Pioneer, REUTERS, Devon Energy, Matador Resources, Diamondback Energy, U.S, P, Insights, Thomson Locations: U.S, Bengaluru, Washington
Oil and natural gas prices traveled divergent paths this week, resulting in a mixed picture for the Club stocks Coterra Energy (CTRA) and Pioneer Natural Resources (PXD). In Thursday's session alone, natural gas prices jumped nearly 7%, as traders reacted to U.S. government data that showed a smaller-than-expected storage build. For the week, through Thursday's settle, natural gas has climbed 8.1%, building on last week's 11% advance. Natural gas on Friday morning jumped another 1.5%. Coterra's revenues are roughly a 50-50 split between oil and natural gas.
Persons: Brent, WTI, Paul Sankey, Sankey, Goldman Sachs, Coterra, Jim Cramer's, Jim Cramer, Jim, David Mcnew Organizations: Club, Coterra Energy, Natural Resources, Texas Intermediate, Traders, Northern, U.S, CNBC, Street Journal, Exxon Mobil, ., Diamondback Energy, Devon Energy, Getty Locations: U.S, Thursday's, Saudi Arabia, Russia, WTI, Friday's premarket, Coterra, China
Diamondbacks continue playoff push in Chicago
  + stars: | 2023-09-27 | by ( Field Level Media | ) www.reuters.com   time to read: +3 min
Visiting Arizona will aim to keep pushing toward the playoffs Wednesday as it continues a series against the White Sox. The Diamondbacks (83-74) grabbed a one-game lead on the Chicago Cubs for the second of three NL wild-card spots with five games remaining. The White Sox must win three of their remaining five games to avoid the franchise's first 100-loss season since 2018. Arizona rookie right-hander Brandon Pfaadt (2-9, 6.08 ERA) is set to oppose White Sox righty Luis Patino (0-0, 4.24). The Diamondbacks have won nine straight games against the White Sox, dating to 2014.
Persons: Christian Walker, We're, Walker, Luis Robert Jr, Robert, Andrew Vaughn, Eloy Jimenez, Brandon Pfaadt, Luis Patino, Pfaadt hasn't, Patino Organizations: The Arizona Diamondbacks, National League, Chicago's American League, city's NL, White Sox, The Diamondbacks, Chicago Cubs, Chicago, Braves, Cubs, Cincinnati, Diamondbacks, Arizona, Triple, Thomson Locations: Arizona, Atlanta, Miami, Chicago
But some stocks may offer a method for investors to weather the rising rate environment and find some safety. Treasury yields have marched higher in recent weeks, with the yield on both the 2-year and 10-year U.S. Treasury notes hitting levels not seen in more than 15 years. The company's debt-to-equity ratio sits at 42%. Energy companies Exxon Mobil and ConocoPhillips also made the list, offering dividend yield of 3.1% and 3.8%, respectively. Exxon also offers the lowest debt-to-equity ratio of the group at roughly 21%.
Persons: Exxon's, FANG, Medtronic Organizations: Treasury, Federal Reserve, CNBC Pro, Diamondback Energy, Energy, Exxon Mobil, ConocoPhillips, Exxon, Diamondback
A Florida Amazon driver is hospitalized in "very serious condition" after being bitten by a snake. AdvertisementAdvertisementAn image from the Martin County Sheriff's Office shows the Eastern diamondback rattlesnake that bit the Amazon driver. The Martin County Sheriff's Office did not immediately respond to Insider's request for comment on the driver's current condition. In August 2022, a USPS mail carrier died after she was attacked by five dogs when her truck broke down, the local sheriff's office said. In October, an Amazon delivery driver was found dead in a yard in Missouri and was suspected to have been mauled by two dogs.
Persons: Martin, Branden Baribeau Organizations: Service, Sheriff's, Facebook, Sheriff's Office, Centers for Disease Control, Florida Museum, USPS Locations: Florida, Wall, Silicon, Palm City , Florida, Eastern, Martin, Martin County, Missouri, Texas
These are Wall Street's favorite energy stocks as oil rallies
  + stars: | 2023-09-07 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
For investors looking to play this trend, here are some energy stocks with the greatest long-term upside potential. The sector has added 0.5% this week as oil prices rallied from news of extended voluntary oil supply cuts from Saudi Arabia and Russia until year-end. Oil and natural gas company Diamondback Energy is another name on the list. Natural gas producer EQT , oil and gas giant EOG Resources , as well as petroleum refining and marketing company Valero Energy , are also Wall Street favorites. For investors looking for energy stocks but who do not want to bet on individual names, the Energy Select Sector SPDR Fund (XLE) and the iShares U.S. Energy ETF (IYE) track companies in the sector.
Persons: Russell, Halliburton, Nitin Kumar, EQT, — CNBC's Michael Bloom Organizations: Energy, CNBC, Oil, Resources, Diamondback Energy, Diamondback, Energy Partners, Warwick Capital Partners, Valero Energy, Mizuho Securities, Valero, Energy Investment, U.S . Energy Locations: Saudi Arabia, Russia, Oil and Texas, EQT, U.S, XLE
For investors looking to rake in profit from the recent oil rally, here are some companies that are poised to benefit off of higher crude prices. Higher oil prices could add to inflationary pressure and feed central bankers' decisions on interest rates. Higher correlation between oil prices means good news for some companies, however. The 10 most positively correlated stocks to oil are energy names, which tend to rise when oil prices get a boost. Molson and Monster have slipped 5.6% and 2.2%, respectively, during the current quarter, while PepsiCo is off more than 5%.
Persons: Brent, WTI, Russell, Molson Coors Organizations: West Texas, CNBC, Oil, Diamondback Energy, Devon Energy, APA, Diamondback, Halliburton, Insurance, CCC Intelligent Solutions Holdings, . Beverage, Molson, Monster, PepsiCo, Bank of Canada, Manhattan Associates, Cadence Design Systems, chocolatier Hershey Locations: Saudi Arabia, Russia, Devon, American
The opinions of top analysts could help investors in picking the right dividend stocks. With a quarterly dividend of 38 cents per share, SU's dividend yield stands at 4.7%. (See Sunoco Stock Chart on TipRanks) Target This week's last pick is dividend aristocrat Target ( TGT ). That said, Drbul highlighted that Target beat analysts' earnings expectations, as the company's inventory actions improved profitability. With a quarterly dividend of 38 cents per share, SU's dividend yield stands at 4.7%.
Persons: Wall, FANG, Scott Hanold, Hanold, DHT's, Jonathan Chappell, Chappell, Gregory Pardy, TipRanks, Rich Kruger, Suncor, Pardy, Gabriel Moreen, Moreen, Robert Drbul, Drbul, Brendan McDermid Organizations: TipRanks, Diamondback, Diamondback Energy, RBC Capital, Suncor Energy, Global Energy, SUN, Black, Reuters Locations: West Texas, Suncor Energy Canada, U.S, Brooklyn , New York
The outlook for stronger energy prices has not changed the focus on investor returns from the U.S. industry, according to the report's authors, Ernst & Young LLP. Last year's investor payouts were up substantially - 214% over 2021 and more than sevenfold over 2020 levels, the report said. Money spent on finding and tapping oil and gas also rose, but as a much slower pace. Returns benefited from strong oil and gas pricing and a cost-consciousness that emerged after energy prices collapsed three years ago. Profit per barrel last year hit $32 compared to about $10 in 2014, when energy prices were about the same level as today, EY said.
Persons: Liz Hampton, Ernst, Young, Money, Bruce, EY, Gary McWilliams, David Gregorio Our Organizations: REUTERS, Rights, U.S, Young LLP, DiamondBack Energy, Natural Resources, ConocoPhillips, Thomson Locations: Midland, Odessa, Texas, U.S
Final Trades: Diamondback Energy, Microsoft & more
  + stars: | 2023-08-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Diamondback Energy, Microsoft & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Organizations: Diamondback Energy, Microsoft
I mean they're always kind of cheap, but they're really cheap," Link said. Housing stocks have risen sharply, with the SPDR S & P Homebuilders ETF (XHB) up about 23% over the past year. Both investors agreed that energy stocks could see a similar rally to housing in the years ahead. "I believe what we are seeing with homebuilders is going to happen with energy stocks in two to three years. In addition to energy stocks being cheap, they could also see fundamentals improvement if oil prices continue to rise, Link said.
Persons: Fundstrat, Tom Lee, Stephanie Link, Lee, Warren, Link Organizations: CNBC, Hightower Advisors, Berkshire, Occidental Petroleum, Chevron, Diamondback Energy, Exxon, Devon Energy Locations: Horton, Chevron, homebuilder
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