Markets have rebounded, and volatility has settled. That’s very good news for the IPO market, which is especially impacted by market turmoil.
Right now, we’re in annual February lull, and companies are putting off IPOs to finalize full 2017 financials and get past the Presidents’ Day holiday. The week’s four offerings included two SPACs (raising $450 million) and two small healthcare companies ($30 million). Fast-growing pharmaceutical Biofrontera (Pending:BFRA) soared 43%, while pre-revenue device company Motus GI (Pending:MOTS) plummeted 20%.
IPO performance update
The Renaissance IPO Index, tracker for the IPO ETF (IPO), traded up 5.9% and recovered to its all-time high. The 28 IPOs of 2018 average a solid gain of 21%. Excluding biotechs, the average return is 8%. The three best-performing deals are biotechs (ARMO, MNLO, SLDB), and the year’s two tech IPOs (PAGS, CDLX) are #4 and #5. Biotech IPOs show no sign of slowing, and strong trading this week from recent IPOs Cardlytics and Cactus should be encouraging for tech and energy IPOs in the pipeline.
Top Energy Stocks To Buy Right Now: Phillips 66(PSX)
- [By ]
Terrarosa reports that Trump has an option regarding gasoline prices that he may not realize he has. Under the same 2015 legislation that allows the President to control the export of crude oil, the chief executive has the power to force domestic petroleum refiners including Valero Energy Corp. (VLO) and Phillips 66 Co. (PSX) to reduce gasoline exports on the grounds that those sales are forcing U.S. consumers to pay more at home.
- [By Todd Campbell]
Fortunately, Berkshire Hathaway reveals which stocks the Oracle of Omaha is selling in itsquarterly 13F filing with the Securities and Exchange Commission. The company’s latest filing shows he sold shares in Verisk Analytics, Inc.(NASDAQ:VRSK), IBM (NYSE:IBM), and Phillips 66 (NYSE:PSX). Is it time for these stocks to exit your portfolio, too?
- [By Paul Ausick]
Excluding the company’s stake in Kraft Heinz Co. (NYSE: KHC), its top five holdings at the end of last year were as follows:
American Express Co. (NYSE: AXP): a 17.6% stake valued at $15 billion with a cost basis of $1.3 billion Phillips 66 Co. (NYSE: PSX): a 14.9% stake valued at $7.5 billion and a cost basis of $5.8 billion Moody’s Corp. (NYSE: MCO): a 12.9% stake valued at $3.6 billion with a cost basis of $248 million Wells Fargo & Co. (NYSE: WFC): a 9.9% stake valued at $29.3 billion and a cost basis of $11.8 billion Coca-Cola Co. (NYSE: KO): a 9.4% stake valued at $18.4 billion with a cost basis of $1.2 billion
The following are a few of Buffett’s comments from the letter.
- [By ]
Berkshire’s biggest winners in the stock market so far this year are MasterCard Inc. (MA) , up 23%; Sirius XM Holdings Inc. (SIRI) , up 18%; Phillips 66 (PSX) , up 14%; Visa Inc. (V) , up 11%; and Moody’s Corp. (MCO) , also up 11%, according to FactSet.
- [By Logan Wallace]
Colonial Trust Advisors trimmed its holdings in Phillips 66 (NYSE:PSX) by 10.7% in the first quarter, Holdings Channel reports. The institutional investor owned 5,870 shares of the oil and gas company’s stock after selling 701 shares during the quarter. Colonial Trust Advisors’ holdings in Phillips 66 were worth $563,000 as of its most recent filing with the SEC.
- [By Matthew DiLallo]
This strategy of acquiring assets from a large parent company to grow an MLP’s payout has worked well over the years. Refining giant Phillips 66 (NYSE:PSX) has been one of the most successful with this strategy since creating Phillips 66 Partners (NYSE:PSXP) in 2013. At that time, Phillips 66 launched an ambitious plan to grow its MLP’s distribution at a 30% compound annual rate through 2018 via a steady stream of dropdown transactions. Phillips 66 Partners is right on target, having increased the payout at a 31% compound annual growth rate since the IPO while maintaining solid financial metrics, including covering the payout with cash flow by a very comfortable 1.33 times last quarter and maintaining a conservative debt-to-EBITDA ratio of 3.2 in 2017. This strategy has also richly rewarded investors in Phillips 66 Partners, which has generated a total return of 89% since its IPO despite a recent sell-off, easily ahead of the S&P 500’s nearly 73% total return over that time frame.
Top Energy Stocks To Buy Right Now: Northern Oil and Gas, Inc.(NOG)
- [By Garrett Baldwin]
Markets are cheering a major development in efforts to fix the ongoing trade conflict between the United States and China. According to Reuters, Chinese telecom giant ZTE has signed an agreement to get back into business with its American partners. The agreement will lift a ban by the U.S. Commerce Department that prevented China’s No. 2 telecommunications equipment from buying from U.S. suppliers. This is a major development, and one that signals progress among trade officials from both nations. There are now more job openings in the United States than available workers. This is the first time that the Department of Labor has documented this phenomenon. There are 6.7 million openings compared to the 6.4 million workers available to fill those positions. As a result, U.S. companies have been forced to increase compensation in order to attract talent. All of the positive economic development could come to a screeching halt should the U.S. experience the largest labor strike in a decade. Reports indicate that the Teamsters and the United Parcel Service (NYSE: UPS) are on a collision course that could result in a general strike. The union has announced that 260,000 UPS employees have authorized a strike should both sides fail to reach a labor deal by August 1. UPS is responsible for the transport of 6% of the nation’s gross domestic product.
Three Stocks to Watch Today: TSLA, NOG, WFC
Tesla Inc. (Nasdaq: TSLA) investors remain committed to giving Chairman Elon Musk more of their money. On Tuesday, shareholders struck down proposals that would have removed Musk from the chairman role and shaken up the board of directors. Both proposals failed. At the same shareholder event, Musk announced plans for Tesla to open a production facility in Shanghai and projected that his firm will likely produce 5,000 Model 3 vehicles per week by the end of June. In deal news, defense contractor Northrop Grumman (NYSE: NOG) has won U.S. antitrust approval to purchase rocket moto
- [By Joseph Griffin]
Northland Securities assumed coverage on shares of Northern Oil and Gas (NYSEAMERICAN:NOG) in a report published on Wednesday. The firm issued an outperform rating and a $4.00 price target on the energy company’s stock.
- [By Ethan Ryder]
Northern Oil & Gas, Inc. (NYSEAMERICAN:NOG) – Equities research analysts at Imperial Capital cut their FY2019 earnings estimates for Northern Oil & Gas in a note issued to investors on Wednesday, June 13th. Imperial Capital analyst J. Wangler now anticipates that the energy company will post earnings per share of $0.33 for the year, down from their previous forecast of $0.34. Imperial Capital has a “Hold” rating and a $3.00 price objective on the stock.
- [By Ethan Ryder]
Northern Oil and Gas Inc. (NYSEAMERICAN:NOG) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.20.
Top Energy Stocks To Buy Right Now: Vaalco Energy Inc(EGY)
- [By Money Morning Staff Reports]
But Blink and our other penny stocks to watch are unlikely to continue to lock in such spectacular gains in June. After looking at our 10 top penny stocks to watch this month, we’ll show you a small-cap stock with great profit potential in its future…
Penny Stock Current Share Price Law Month’s Gain
Blink Charging Co. (Nasdaq: BLNK) $7.07 439.85%
Senes Tech Inc. (Nasdaq: SNES) $1.27 175.40%
Vivis Inc. (Nasdaq: VVUS) $0.77 150.41%
Adomani Inc. (Nasdaq: ADOM) $1.49 137.68%
NF Energy Saving Co. (Nasdaq: NFEC) $2.34 134.88%
Vaalco Energy Inc. (NYSE: EGY) $2.15 109.06%
Heat Biologics Inc. (Nasdaq: HTBX) $2.35 99.12%
ArQule Inc. (Nasdaq: ARQL) $4.88 90.74%
LiqTech International Inc. (NYSE: LIQT) $0.66 85.60%
Transenterix Inc. (NYSE: TRXC) $3.46 77.84%
While last month’s gains are tremendous, they also illustrate the inherent dangers that come with investing in penny stocks.
- [By Lisa Levin] Gainers
SenesTech, Inc. (NASDAQ: SNES) shares jumped 113.5 percent to $0.6737 after the California Department of Pesticide Regulation proposed to register the company's ContraPest for sale and use in California.
AgEagle Aerial Systems, Inc. (NASDAQ: UAVS) shares rose 35.34 percent to close at $3.32.
Art's-Way Manufacturing Co., Inc. (NASDAQ: ARTW) shares gained 30.36 percent to $3.65.
Xtant Medical Holdings, Inc. (NYSE: XTNT) shares jumped 25.6 percent to $7.4701 after the company disclosed that it has received the FDA clearance for InTice™-C Porous Titanium Cervical Interbody System.
VAALCO Energy, Inc. (NYSE: EGY) shares surged 20 percent to $2.495.
TransGlobe Energy Corporation (NASDAQ: TGA) surged 17.04 percent to $2.61.
Boxlight Corporation (NASDAQ: BOXL) gained 15 percent to $8.32 after the company announced an exclusive partnership with Multi Touch Interactives to strengthen the development of next generation interactive educational activities.
Arcimoto, Inc. (NASDAQ: FUV) gained 15 percent to $3.39.
MB Financial, Inc. (NASDAQ: MBFI) rose 13.7 percent to $49.64. Fifth Third Bancorp (NASDAQ: FITB) agreed to acquire MB Financial for $54.70 per share in cash and stock.
FRONTEO, Inc. (NASDAQ: FTEO) shares rose 11.8 percent to $20.956.
TransEnterix, Inc. (NYSE: TRXC) shares jumped 11.1 percent to $3.38.
21Vianet Group, Inc. (NASDAQ: VNET) rose 10.6 percent to $7.41.
NII Holdings, Inc. (NASDAQ: NIHD) shares gained 9 percent to $2.32.
Kelly Services, Inc. (NASDAQ: KELYA) rose 7.6 percent to $24.19. Northcoast Research upgraded Kelly Services from Neutral to Buy.
LaSalle Hotel Properties (NYSE: LHO) shares climbed 5.6 percent to $33.70. Blackstone Group LP (NYSE: BX) will buy LaSalle Hotel Properties in a $4.8 billion deal, Bloomberg reported.
Alteryx, Inc. (NYSE: AYX) gained 5.5 percent to $32.56. KeyBanc upgraded Alteryx from Sector Weight to Overweight.
Energizer Holdings, Inc. (NYSE:
- [By Lisa Levin] Gainers
Cara Therapeutics, Inc. (NASDAQ: CARA) shares surged 42.76 percent to close at $16.56 on Wednesday in reaction to a new licensing agreement with Europe-based Vifor Pharma. As part of the agreement, the biopharmaceutical company that alleviates pain licensed worldwide rights (except U.S., Japan, and South Korea) to Vifor Pharma to commercialize its KORSUVA therapy to Vifor $70 million.
Yangtze River Port and Logistics Limited (NASDAQ: YRIV) gained 31.28 percent to close at $7.05 on Wednesday.
Tiffany & Co. (NYSE: TIF) climbed 23.29 percent to close at $126.05 after the company reported upbeat results for its first quarter and raised its FY2018 earnings guidance.
EVO Payments, Inc. (NASDAQ: EVOP) gained 18.88 percent to close at $19.02. EVO Payments priced its IPO at $16 per share.
Carver Bancorp, Inc. (NASDAQ: CARV) rose 16.1 percent to close at $6.85.
USA Technologies, Inc. (NASDAQ: USAT) gained 15.68 percent to close at $13.65 after announcing pricing of public offering.
eXp World Holdings, Inc. (NASDAQ: EXPI) shares jumped 15.01 percent to close at $17.70.
Geron Corporation (NASDAQ: GERN) gained 14.99 percent to close at $4.68.
Evolus, Inc. (NASDAQ: EOLS) rose 14.62 percent to close at $19.36.
Ralph Lauren Corporation (NYSE: RL) shares rose 14.34 percent to close at $133.33 after the company reported stronger-than-expected results for its fourth quarter.
Turtle Beach Corporation (NASDAQ: HEAR) jumped 13.26 percent to close at $17.34 on Wednesday. Turtle Beach S-3 showed registration for 1.857 million share common stock offering via selling holders.
Communications Systems, Inc. (NASDAQ: JCS) rose 13.18 percent to close at $3.95. Communications Systems reported establishment of special committee to explore strategic alternatives.
Immutep Limited (NASDAQ: IMMP) shares climbed 12.95 percent to close at $2.53.
xG Technology, Inc. (NASDAQ: XGTI) rose 12.64 percent to close at $0.8561 after the company&rsq
Top Energy Stocks To Buy Right Now: Tengasco, Inc.(TGC)
- [By Max Byerly]
Tigercoin (CURRENCY:TGC) traded 12.1% lower against the US dollar during the 1-day period ending at 23:00 PM E.T. on May 6th. One Tigercoin coin can now be bought for $0.0077 or 0.00000083 BTC on popular cryptocurrency exchanges. In the last week, Tigercoin has traded 6.4% lower against the US dollar. Tigercoin has a total market cap of $334,680.00 and approximately $64.00 worth of Tigercoin was traded on exchanges in the last 24 hours.
- [By Logan Wallace]
Tigercoin (TGC) is a proof-of-work (PoW) coin that uses the SHA256 hashing algorithm. It launched on September 6th, 2013. Tigercoin’s total supply is 43,536,800 coins. The official website for Tigercoin is tigercoin.wordpress.com. Tigercoin’s official Twitter account is @TigerCoin.
Top Energy Stocks To Buy Right Now: EMCORE Corporation(EMKR)
- [By Max Byerly]
News stories about EMCORE (NASDAQ:EMKR) have been trending somewhat positive this week, according to Accern Sentiment. The research group identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. EMCORE earned a news sentiment score of 0.10 on Accern’s scale. Accern also gave media stories about the semiconductor company an impact score of 45.6118508960632 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
- [By Peter Graham]
Small cap fiber-optic networking product Applied Optoelectronics (NASDAQ: AAOI), a potential peer of EMCORE Corporation (NASDAQ: EMKR), Finisar Corporation (NASDAQ: FNSR) and Oclaro Inc (NASDAQ: OCLR), is themostshorted stock on theNASDAQ with short interest of 62.65% according to Highshortnterest.com.
Top Energy Stocks To Buy Right Now: Apache Corporation(APA)
- [By John Bromels]
But if you look hard enough, there are still some values to be found among oil and gas stocks. Devon Energy (NYSE:DVN), Apache Corporation (NYSE:APA), and Kinder Morgan (NYSE:KMI) have all managed to buck the trend of rising stock prices. Here’s why these three stocks look incredibly cheap right now.
- [By Max Byerly]
Get a free copy of the Zacks research report on Apache (APA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Lee Jackson]
Apache Corporation (NYSE: APA) is raised to Buy from Hold at Argus with a $56 price target. That competes with the Wall Street consensus target of $46.19. The 52-week trading range for the company is $33.60 to $51.21. The stock closed Friday at $42.24.