Oil &Gas Explorers: VOC, TPL, BSM, COP, APA &PR Hit New Highs!
On thursday trading, Oil & Gas Exploration and Production industry top the increase among the whole market industries. Then Intergrated Oil & Gas Industry see 1.54% increase.
Energy sector has been the best performed area in recent year. Due to war and inflation reasons. And you may ask , does energy sector will continue to rise? What stocks you should add to watchlist?
Welcome to Read:
10 Energy Stocks To Buy On the OPEC Production Cuts
10 Best Natural Gas Dividend Stocks To Buy
What's more, we would like to highlight some stocks hit New High in price for you to watch.
For example, stocks in Oil & Gas Exploration and Production industry like$VOC Energy Trust(VOC)$ , $APA Corporation(APA)$ , $ConocoPhillips(COP)$ ,$Centennial Resource Development, Inc.(PR)$ ，$Texas Pacific Land(TPL)$ ,$Black Stone Minerals LP(BSM)$ have hit all yearly high with strong up trend.
Below are the return and dividend data as of date:
Data from SA
Recent Positive News for Each Company:
VOC is an energy trust which is almost entirely exposed to crude oil prices, it is a statutory trust formed among VOC Brazos Energy Partners, L.P. (VOC Brazos), a Texas limited partnership, as trustor, The Bank of New York Mellon Trust Company, N.A., as Trustee, and Wilmington Trust Company, as Delaware Trustee .
VOC announced the Trust distribution of net profits for the quarterly payment period ended September 30, 2022. Unitholders of record on October 31, 2022 will receive a distribution amounting to $6,205,000 or $0.365 per unit, payable November 14, 2022.
$(TPL)$ Announces Third Quarter 2022 Results and Beats Q3 Earnings and Revenue Estimates. TPL came out with quarterly earnings of $16.82 per share, beating the Zacks Consensus Estimate of $14.38 per share. Over the last four quarters, the company has surpassed consensus EPS estimates two times.
TPL shares have added about 87.9% since the beginning of the year versus the S&P 500's decline of -19.1%.
Research analysts at KeyCorp lifted $(BSM)$ Q3 2022 earnings estimates for Black Stone Minerals in a note issued to investors on Wednesday, October 19th. KeyCorp analyst T. Rezvan now expects that the oil and gas producer will post earnings per share of $0.44 for the quarter, up from their previous estimate of $0.40. KeyCorp has a "Overweight" rating and a $22.00 price target on the stock.
One of the world’s largest independent oil and gas producers based in Houston, $(ConocoPhillips)$’ quarterly revenues of $21,614 million increased from third-quarter 2021 sales of $11,616 million, reported adjusted earnings per share of $3.60, all beating the Zacks Consensus Estimate of of $17,052 million and $3.41.
Over the last 2 years, COP has beaten EPS estimates 88% of the time and has beaten revenue estimates 38% of the time. A rating of 92 puts ConocoPhillips (COP) near the top of the Oil & Gas E&P industry according to InvestorsObserver.
COP was recently selected by Qatar Energy as its third international partner, along with Total and Shell, for a major offshore LNG project.
$APA Corporation(APA)$ came out with quarterly earnings of $1.97 per share, beating the Zacks Consensus Estimate of $1.92 per share. The conpany posted revenues of $2.87 billion for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 10.18%. The current consensus EPS estimate for Q4 is $2.08 on $2.66 billion in revenues and $8.40 on $11.1 billion in revenues for the current fiscal year.
Permian Resources Corporation (NYSE:PR) was recently formed by a merger of Centennial Resource Development and Colgate Energy.
Permian Resources provided its outlook for 2023, which calls for an approximately 9% growth in average production during 2023 (compared to Q4 2022). It also expects to generate close to $1.2 billion in positive cash flow in 2023 at current strip.
For detailed fundamental information, institute ranking, valuations data are shown as below for your reference.
Profile Info:
Data from SA
Ratings & Rankings：Only $VOC Energy Trust(VOC)$ see sell rating.
Data from SA
Data from SA
Valuation:
Data from SA
Other Excellent Companies News:
So far, U.S. oil majors like $Exxon Mobil(XOM)$ and $Chevron(CVX)$ have handily beat the Wall Street consensus and made combined profits of more than $30B.
Other rivals such as $Schlumberger(SLB)$ , $Baker Hughes(BKR)$ , $Hess(HES)$ and $Halliburton(HAL)$ saw a surge in production and drilling activity in the third quarter.
Risk for This Dndustry：
U.S. oil supply growth is being hurt by "rapidly rising" equipment costs and supply chain hurdles. Separately, an "extremely tight" market for oilfield workers, particularly in the Permian Basin in West Texas and New Mexico, is also squeezing the energy industry and hindering expansion of oil yield effort.
It is also warned the federal government against making any major changes to the tax structure, that changing the tax code could have dire long-term consequences for oil and gas investment.
Just a few days ago, US President Joe Biden proposed a tax on the windfall profits of the oil industry. A calling for a windfall tax was "not a helpful topic right now".
Do you have oil & gas stocks in your watchlist?
Do you expect that oil and gas related stocks will continue to surge?
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