codetomake.com

Oil Stocks To Buy: Here Are U.S. Shale, Market Cap Leaders | Investor's Business Daily

2021.03.23 12:26



Market Trend Market Trend The Big Picture Stock Market Today IBD's ETF Market Strategy Stock Market Data Psychological Indicators Coronavirus Market Guide New? Start Here Stock Lists Stock Lists IBD Long-Term Leaders CAN SLIM Select New Highs Stocks On The Move IBD 50 IBD Data Tables Relative Strength at New High Stocks Near A Buy Zone Sector Leaders IBD ETF Indexes Rising Profit Estimates Stocks that Funds are Buying IBD Big Cap 20 IPO Leaders Stock Lists Update New? Start Here My Stock Lists Stock Spotlight Your Weekly Review Research Stock Research IBD Stock Checkup IBD Charts IBD Stock Of The Day IBD Stock Screener Investing Action Plan The Income Investor IBD Screen Of The Day Best ETFs Earnings Preview Industry Snapshot Best Mutual Funds Earnings Calendar IBD 50 Stocks To Watch IBD Industry Themes IBD Stock Analysis New Options The New America IBD Data Stories Swing Trading Premium Investing Tools Leaderboard SwingTrader MarketSmith IBD Live News NEWS e IBD Technology Personal Finance Retirement Financial Advisors Management FANG Stocks News Special Reports Industry News Pages ECONOMY Economic News IBD/TIPP Poll Economic Optimism Index Presidential Leadership Index Economic Calendar Videos All Videos How To Invest Videos Online Courses Investing With IBD Podcast Technical Analysis Investing Strategies Webinars New IBD Live Learn Lesson Topics Getting Started with IBD The CAN SLIM Investing System How to Time the Stock Market How to Find and Evaluate Stocks How to Read Stock Charts How to Buy Stocks How to Sell Stocks Swing Trading Short Selling Educational Resources New to IBD Investor's Corner Investing Strategies Video Series Investing with IBD Podcast IBD Live Workshops IBD Home Study Courses Webinars IBD Key Terms IBD Moneyworks 12 Days Of Learning IBD Live Leaderboard SwingTrader MarketSmith Store

BREAKING: Stocks Close Slightly Off Session Highs


Shopping Cart Your cart is currently empty.
Visit the IBD Store to get started. Market Trend Market Trend The Big Picture Stock Market Today IBD's ETF Market Strategy Stock Market Data Psychological Indicators Coronavirus Market Guide New? Start Here Stock Lists Stock Lists IBD Long-Term Leaders CAN SLIM Select New Highs Stocks On The Move IBD 50 IBD Data Tables Relative Strength at New High Stocks Near A Buy Zone Sector Leaders IBD ETF Indexes Rising Profit Estimates Stocks that Funds are Buying IBD Big Cap 20 IPO Leaders Stock Lists Update New? Start Here My Stock Lists Stock Spotlight Your Weekly Review Research Stock Research IBD Stock Checkup IBD Charts IBD Stock Of The Day IBD Stock Screener Investing Action Plan The Income Investor IBD Screen Of The Day Best ETFs Earnings Preview Industry Snapshot Best Mutual Funds Earnings Calendar IBD 50 Stocks To Watch IBD Industry Themes IBD Stock Analysis New Options The New America IBD Data Stories Swing Trading Premium Investing Tools Leaderboard SwingTrader MarketSmith IBD Live News NEWS e IBD Technology Personal Finance Retirement Financial Advisors Management FANG Stocks News Special Reports Industry News Pages ECONOMY Economic News IBD/TIPP Poll Economic Optimism Index Presidential Leadership Index Economic Calendar Videos All Videos How To Invest Videos Online Courses Investing With IBD Podcast Technical Analysis Investing Strategies Webinars New IBD Live Learn Lesson Topics Getting Started with IBD The CAN SLIM Investing System How to Time the Stock Market How to Find and Evaluate Stocks How to Read Stock Charts How to Buy Stocks How to Sell Stocks Swing Trading Short Selling Educational Resources New to IBD Investor's Corner Investing Strategies Video Series Investing with IBD Podcast IBD Live Workshops IBD Home Study Courses Webinars IBD Key Terms IBD Moneyworks 12 Days Of Learning IBD Live Leaderboard SwingTrader MarketSmith Store Shopping Cart Your cart is currently empty.
Visit the IBD Store to get started.
Hi MY IBD SIGN OUT My Products My Favorites My Stock Lists Edit Favorites Sign In or Subscribe Research

Top Oil Stocks To Watch In U.S. Shale As Crude Prices Rise

Licensing GILLIAN RICH 11:26 AM ET 03/22/2021

When weighing oil stocks to buy and watch, consider which ones are diversified and which are focused more on shale or particular regions like the Permian Basin. Crude oil prices have a big impact, especially on pure-play shale producers.

X

Investors should do additional research before making any purchases. While oil prices have risen recently, they are still under pressure amid another round of Covid-19 lockdowns in Europe. But for reference purposes here are the top stocks involved in U.S. shale as of March 2021.

Exxon Mobil, Chevron

Exxon Mobil ( XOM ) is the world's largest publicly traded oil company by market cap ($240 billion), despite a sharp decline, with operations around the world from deepwater drilling off the Australian coast to conventional drilling in the Middle East.

Exxon also doubled its holdings in the Permian Basin, which accounts for one-third of U.S. production, with a $5.6 billion deal in 2017. But drilling has been curtailed as oil prices fell amid the coronavirus pandemic.  Exxon now sees volumes of approximately 700,000 barrels per day by 2025, down from an earlier view of more than 1 million bpd by 2024.

In February, Exxon reported mixed fourth-quarter results . It was booted off the Dow Jones Industrial Average in August.

Exxon hopes investment and job cuts will help maintain its quarterly dividend at 87 cents a share. CEO Darren Woods told analysts that Exxon can maintain its dividend with Brent at $45 a barrel, while $50 would allow the company to focus on reducing debt or returning capital to investors. But Wall Street remains skeptical.

Meanwhile, global oil rival Chevron ( CVX ) is closing in on Exxon's dominance with a $200 billion market cap and is the only oil major on the DJIA. In July, Chevron agreed to buy Noble Energy for $5 billion , increasing its presence in the Permian Basin, as well as in the eastern Mediterranean and West Africa.

Chevron and Exxon reportedly engaged in preliminary merger discussions in 2020, sources told the Wall Street Journal. The talks aren't currently ongoing but sources told the Journal the discussions could be revisited in the future.

Chevron reported an  unexpected Q4 loss in January.

IBD Live: A New Tool For Daily Stock Market Analysis

ConocoPhillips

ConocoPhillips ( COP ) is one of the biggest Permian Basin producers and the largest U.S. independent oil company following its acquisition of Concho Resources in an all-stock deal valued at $9.7 billion. Conoco's market cap is $71 billion after the deal closed in January.

Combined production is expected to hit 1.5 million barrels per day, according to an earlier Reuters report. Its Permian production will be second only to Occidental Petroleum ( OXY ).

Concho reported Q4 results that beat Wall Street estimates in January on increased output from its Canadian operations.

Looking For The Next Big Stock Market Winners? Start With These 3 Steps

EOG Resources

EOG Resources ( EOG ) is known as the " Apple of Oil " for its use of technology and big data to aid in drilling operations. The company has a $40 billion market cap.

The company has premium acreage in the Eagle Ford shale formation in south Texas and the Permian's Delaware Basin.

EOG beat analyst expectations when it reported Q4 results in February. It sees 2021 crude oil production at 440,000 barrels per day, up from 2020's full-year average of 409,200 bpd.

EOG is allocating more capital in 2021 to test high‐impact oil plays and lease acreage and sees capital spending at $3.7 million-$4.1 million for the year, up from $3.5 million in 2020.

How To Research Growth Stocks: This IBD Tool Simplifies The Search

Pioneer Natural Resources

Pioneer Natural Resources ( PXD ) is a pure-play Permian Basin company after selling its Eagle Ford assets in 2019. It has a market cap of $35 billion.

In October, Pioneer reached a deal to buy Parsley Energy in an all-stock transaction valued at about $4.5 billion. The deal closed in January and the combined company has roughly 928,000 net acres in the Permian, according to the analysts.

The merger is a family affair as Pioneer CEO Scott Sheffield is the father of Parsley's co-founder and chairman, Bryan Sheffield. Parsley's CEO, Matt Gallagher, had previously worked at Pioneer.

Pioneer reported Q4 results that beat estimates in February. Following the merger, the company sees capital spending of $2.5 billion-$2.8 billion this year with oil and gas production of 528,000-554,000 bpd.

Stocks To Watch: Top-Rated IPOs, Big Caps And Growth Stocks

Occidental Petroleum

Like Exxon Mobil and Chevron, Occidental Petroleum is a global company but is also the largest acreage holder in the Permian. It has a market cap of $26 billion. Occidental expanded holdings in the prolific play after buying Anadarko for $38 billion in 2019.

To focus on the Permian, Occidental Petroleum sold off an oil field in Qatar to state-owned Qatar Petroleum in 2019. But it still has operations in Oman, Colombia and Libya. But some investors aren't happy with the deal and activist investor Carl Icahn and other shareholders were upset they were denied a vote on the deal.

Occidental reported Q4 results in February that fell short of expectations. But it backed its 2021 capital spending plan of $2.9 billion while forecasting production would be flat vs. Q4 at about 1.14 million oil-equivalent barrels per day.

Catch The Next Big Winning Stock With MarketSmith

Continental Resources

Unlike many of its shale peers, Continental Resources ( CLR ) didn't rush to gain acreage in the Permian and instead kept its focus on North Dakota's Bakken play. The company is the largest producer in the Bakken. It has also been aggressive recently in Oklahoma's STACK and SCOOP shale plays. It has a market cap of $9.5 billion.

Continental reported mixed Q4 results in February. It set a $1.4 billion capital expenditures budget. That's up from its preliminary budget in November of $1.2 billion-$1.3 billion. Annual oil production is expected to range from between 160,000 to 165,000 bpd.

Harold Hamm, Continental's founder and CEO, stepped down last year and assumed the role of executive chairman. Former ConocoPhillips executive William Berry replaced Hamm.

Follow Gillian Rich on Twitter  @IBD_GRich  for energy news and more.

YOU MIGHT BE INTERESTED IN:

Is Chevron Stock A Buy Right Now? Here's What Earnings, Stock Chart Show

Get The Latest News About Oil Stocks And The Energy Industry

Is Exxon Stock A Buy Right Now?

Get IBD's Free 'How To Invest' Newsletter

Catch The Next Big Winning Stock With MarketSmith

Related news

World s Largest Oil Company Eyes Hydrogen Production With China

3/22/2021 The world's largest oil company is exploring hydrogen energy production with China as the energy source gains popularity. 

3/22/2021 The world's largest oil company is exploring hydrogen energy production...

Energy Stocks And Industry News: Oil, Gas, Solar, Coal
S&P 500 Index: Track S&P News, Stocks To Watch And SPDR ETFs
Is Chevron Stock A Buy As It Renews Lofty Permian Plans?
Is Exxon Stock A Buy Right Now As Oil Prices Rebound?
Warren Buffett's Panic Sale Of Two Stocks Cost $713 Million
EOG Resources Clears Key Benchmark, Hitting 80-Plus RS Rating
Continental Res Joins Elite Club Of Stocks With RS Ratings Over 90
EOG Resources Sees IBD RS Rating Improve To 78

Today's Spotlight

New Podcast: Eve Boboch

Eve Boboch joins the podcast to discuss the latest market action and post-Covid reopening plays.

Looking for a real stimulus?

Invest your new money in the market and watch it grow with Leaderboard! Try 1 month for $29.

Exclusive Founder’s Club Webinar

Join the Founder’s Club and get access to every IBD product PLUS a special webinar on March 31.

More News

When choosing investments for your 401(k) or another account, you want to pick from the best mutual funds that consistently outperform the market. (IBD Graphics/oatawa/stock.adobe.com)

Build Your Portfolio With These Best Mutual Funds That Repeatedly Top The Market Best Mutual Funds Beating S&P 500 And Other Benchmarks Over 1, 3, 5 & 10 Years A Road Map to the Coming US Economic Cycle Promoted Content By AB

TRADING CENTER

INVESTING RESOURCES
Take a Trial Today

Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months weeks of IBD Digital for only $20!

IBD Videos

Get market updates, educational videos, webinars, and stock analysis.

Get Started

Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content.

IBD Stock Charts IBD Stock Checkup Stock Quotes MarketSmith Newsletters How to Buy Stocks How to Read Stock Charts When to Sell Stocks IBD Retail Locations Ad Choices About Us Advertising Contact Us Terms of Use Privacy Policy Site Map Do Not Sell My Personal Information IBD Stock Charts IBD Stock Checkup Stock Quotes MarketSmith Newsletters How to Buy Stocks How to Read Stock Charts When to Sell Stocks IBD Retail Locations Ad Choices Stock Market Today The Big Picture Economic Calendar Investing Workshops New to IBD Economy Technology Best Mutual Funds Awards Best Online Brokers Co-Browse Connect With Us On

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice.

*Real-time prices by Nasdaq Last Sale. Realtime quote and/or trade prices are not sourced from all markets.

Ownership data provided by Refinitiv and Estimates data provided by FactSet.

© 2000-2021 Investor's Business Daily, Inc. All rights reserved




  • Two Oil Stocks To Watch In 2021 - Yahoo
    The best oil stocks are busy preparing for a greener future. From gas pipelines to biofuels and renewables, these are the oil firms that look set to succeed. By InvestorPlace Staff Feb 8, 2021, 10 ...
  • Forget Big Oil: Fund manager names 4 stocks to trade the ...
    (Bloomberg) -- U.S. stocks closed at a record high for a third consecutive trading session amid growing optimism over the budding economic recovery and progress on vaccines. Long-term Treasury ...
  • Best Oil & Gas Production Stocks | US News Best Stocks
    Here are our Top 2 Discovery-Potential Oil stocks for 2021 #1 Exxon Mobil (NYSE:XOM) Exxon hasn’t been immune to the pandemic--let’s not get ahead of ourselves. It’s also got a sizable debt ...
  • Top 10 Oil Penny Stocks to Watch
    When weighing oil stocks to buy and watch, consider which ones are diversified and which are focused more on shale or particular regions like the Permian Basin. Crude oil prices have a big impact ...
  • 5 Oil Stocks to Watch Out for as Prices Surge | Investment U
    The crude oil and refined transportation company, Overseas Shipholding Group, ranks 6 th on our list of the 11 best oil tanker stocks to buy now. The company has over 110 vessels with a deadweight ...
  • Top Oil Stocks - Barchart.com
    Ultimately, oil stocks aren’t disappearing overnight. Moreover, right now, the price charts of these three oil stocks point at opportunities to go long and combat today’s overly ambitious ...
  • 11 Best Oil Tanker Stocks To Buy Now
    Lansdowne Partners fund manager Per Lekander has named a number of stocks to buy to trade the world's energy transition in the coming years – and they're not Big Oil. Although Lekander said oil ...
  • Best Oil Stocks of 2021 - MSN
    Oil stocks have made many millionaires, but this highly cyclic industry is not without risks. Learn how to invest your money in the best oil companies in 2020.
  • Two Oil Stocks To Watch In 2021 | OilPrice.com
    Oil bulls finally received their comeuppance on Thursday. The steep decline marks the end of the glorious and consistent uptrend that brought big gains to energy stocks. With the backbone of the ...
  • 4 Shale Stocks to Buy as Oil Price Nears Pre-Pandemic Mark ...
    Raymond James is very positive on top energy companies as West Texas Intermediate crude surges to near $65 a barrel. Here are six top stocks for growth investors looking to add exposure to the sector.