Venezuela and its worsening economic and political crisis may be an underappreciated wild card when it comes to the outlook for oil prices.
The nation, which has the worlds largest oil reserves, is suffering an economic collapse that has sparked massive protests against the government of President Nicol谩s Maduro.
The country is in [its] worst shape in two decades, said James Williams, energy economist at WTRG Economics. More corruption, more violence, little food and almost no medicine.
Top 5 Energy Stocks To Invest In Right Now: Phillips 66 Partners LP(PSXP)
- [By Dustin Parrett]
In 2016, PAA partnered with Phillips 66 Partners LP (NYSE: PSXP) to build a $15 million pipeline expansion between Oklahoma and Canada. The new pipeline adds capacity for 100,000 more barrels of oil a day.
- [By Matthew DiLallo]
While the company continues to invest in midstream projects on its balance sheet, however, Garland reiterated that its MLP,Phillips 66 Partners (NYSE:PSXP), remains an important part of our midstream growth strategy.” Garland reaffirmed the expectation that Phillips 66 Partners will “reach its growth goal of $1.1 billion in run-rate EBITDA by the end of 2018.” That will require completing additional dropdown transactions between the two companies as well as the pursuit of new organic growth projects at the MLP.
- [By WWW.KIPLINGER.COM]
As PSX has grown as a refining outfit, it has added midstream assets pipelines, terminals, rail lines and storage farms. Owning pipelines and gathering systems is a great way to generate cash flows. Phillips enhanced that by placing them inside of its master limited partnership, Phillip 66 Partners LP (PSXP). That way, PSX is preparing to keep its profits even when oil does inevitably rise.
- [By Matthew DiLallo]
The other highlight this quarter was the midstream business. That segment benefited from a full quarter of Phillips 66’s recently completed Freeport LPG Export Terminal as well as a turnaround in results at DCP Midstream (NYSE:DCP). After causing the company to record a loss on its investment last quarter, the DCP Midstream investment was back in the green this quarter, benefiting from hedging and lower costs. Meanwhile, the company’s other MLP investment, Phillips 66 Partners (NYSE:PSXP), delivered another steady quarter thanks to that entity’s focus on owning stable fee-based assets.
Top 5 Energy Stocks To Invest In Right Now: Euro FX(P)
- [By Chris Lange]
Pandora Media, Inc. (NYSE: P) released its most recent earnings report after markets closed on Thursday. The company said that it had a fourth quarter net loss of $0.13 per share and $392.6 million in revenue, versus consensus estimates from Thomson Reuters that called for a net loss of $0.21 per share and $374.24 million in revenue. The same period from last year had $0.04 in earnings per share (EPS) and $336.16 million in revenue.
- [By Paul Ausick]
Pandora Media Inc. (NYSE: P) dropped about 5.9% Tuesday to post a new 52-week low of $4.97 after closing at $5.28 on Monday. The stock’s 52-week high is $14.10. Volume of around 26 million was nearly 4 times the daily average. The streaming music company posted a smaller-than-expected loss but missed revenues when it reported last Thursday night.
- [By WWW.THESTREET.COM]
Cramer was bearish on Hertz Global Holdings (HTZ) , General Motors (GM) , Pandora Media (P) , Cedar Fair (FUN) , Quotient Technology (QUOT) and Rite Aid (RAD) .
- [By Jeremy Bowman]
In the streaming-music industry,PandoraMedia(NYSE:P) shares took off as the company lifted its fourth-quarter guidance and said that it added more subscribers than projected.
Top 5 Energy Stocks To Invest In Right Now: Nabors Industries Ltd.(NBR)
- [By Craig Jones]
On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about Nabors Industries Ltd. (NYSE: NBR). He said that somebody bought 6,500 contracts of the July 11 calls for $0.50 in the first half of the session. The trade breaks even at $11.50 or 16.28 percent above the current market price. Jon Najarian has a long position in the name and he is planning to hold it for a month.
- [By Ben Levisohn]
Last night, Weatherford International (WFT) reported a smaller than expected loss and announcing an alliance with Nabors Industries (NBR)–and the news was celebrated by the market.
- [By Wayne Duggan]
While Loop maintains a Buy rating on all of the stocks mentioned above, Guggenheim analyst Michael LaMotte isn’t quite so bullish on the sector. Earlier this week, LaMotte downgraded the following oil services stocks from Buy to Neutral:
Baker Hughes Incorporated (NYSE: BHI)
Fairmount Santrol Holdings Inc (NYSE: FMSA)
Helmerich & Payne, Inc. (NYSE: HP)
Nabors Industries Ltd. (NYSE: NBR)
Schlumberger Limited. (NYSE: SLB)
Superior Energy Services
Guggenheim also cut its 2017 oil price forecast from $55 to $48/bbl.
- [By Craig Jones]
Pete Najarian was watching Nabors Industries Ltd. (NYSE: NBR). He said that the stock has been trading in a range between $8 and $18 over the last 52 weeks and although it spiked 2.82 percent on Wednesday, it's still close to the lower end of the range. Anticipating a move higher, traders were buying the June 11 calls for $0.30. Around 6,000 contracts were bought in the first half of the session. The trade breaks even at $11.30 or 10.78 percent above the current market price. Pete Najarian decided to buy the calls and he is going to hold them for 4-5 weeks.
Top 5 Energy Stocks To Invest In Right Now: California Resources Corporation(CRC)
- [By Andrew Efimoff]
WTI crude oil plunged 3.11 percent on Friday to $48.99 a barrel. Below are the biggest energy losers for the day:
California Resources Corporation (NYSE: CRC): -19.22%
Dynamic Materials (NASDAQ: BOOM): -12.39%
Clayton Williams Energy (NYSE: CWEI): -11.45%
Dynergy (NYSE: DYN): -11.91%
EP Energy Corporation (NYSE: EPE): -11.20%
Mexco Energy (NYSE: MXC) -10.90%
Whiting Petroleum (NYSE: WLL) -10.79%
Southwestern Energy Company (NYSE: SWN) -10.79%
SM Energy Company (NYSE: SM) -10.38%
Real Goods Solar (NASDAQ: RGSE) -10.34%
Posted-In: Commodities After-Hours Center Markets Movers
- [By Matthew DiLallo]
That sell-off in the oil market weighed on financially challenged oil stocks, which will struggle if crude continues dropping. Among the biggest losers were Abraxas Petroleum (NASDAQ:AXAS), Whiting Petroleum (NYSE:WLL), Denbury Resources (NYSE:DNR), California Resources (NYSE:CRC), and Cobalt International Energy (NYSE:CIE).
Top 5 Energy Stocks To Invest In Right Now: Approach Resources Inc.(AREX)
- [By Lisa Levin]
In trading on Friday, energy shares fell 0.83 percent. Meanwhile, top losers in the sector included Teekay Offshore Partners L.P. (NYSE: TOO), down 10 percent, and Approach Resources Inc. (NASDAQ: AREX), down 8 percent.