September 20, 2016: Markets opened higher Tuesday as no sector was showing big gains but healthcare stocks the clear leader. Traders and investors are likely trying to position themselves for the markets’ reactions to Wednesday’s announcements from the Fed and the Bank of Japan. WTI crude oil for October delivery settled at $43.44 a barrel, up 0.3% for the day. December gold closed up just 40 cents on the day to settle at $1,318.20. Equities were headed for a higher close shortly before the bell as the DJIA traded up by 0.26% for the day, the S&P 500 traded up 0.21%, and the Nasdaq Composite traded up 0.26%.
The DJIA stock posting the largest daily percentage gain ahead of the close Tuesday was McDonald’s Corp. (NYSE: MCD) which traded up 1.21% at $116.61. The stock’s 52-week range is $95.78 to $131.96. Volume was about 40% below the daily average of around 5 million shares. The company has announced some changes to its popular all-day breakfast menu, changes that consumers have been clamoring for.
Top Oil Stocks To Own Right Now: Crescent Point Energy Corp (16)
Advisors' Opinion:- [By Kana Nishizawa]
China Coal Energy Co., the country��s second-largest producer of the fuel, sank 3.1 percent after the government said it will cut coal consumption. Sun Hung Kai Properties Ltd. (16), the world��s second-biggest developer, fell 1.4 percent after trimming its sales target. Gold producers led materials companies lower as the precious metal headed for its steepest weekly loss since June amid expectations the U.S. Federal Open Market Committee will next week decide to reduce stimulus.
Top Oil Stocks To Own Right Now: Talisman Energy Inc.(TLM)
Advisors' Opinion:- [By Jayson Derrick]
On the other hand, the analysts are Underweight on Eni SpA (ADR) (NYSE: E), Repsol Oil & Gas Canada Inc (USA) (NYSE: TLM) and OMV AG given their asset bases, which offer an inferior risk to reward profile and limited differentiation in cost reductions.
Top Oil Stocks To Own Right Now: Range Resources Corporation(RRC)
Advisors' Opinion:- [By Wayne Duggan]
Bernstein maintains Outperform ratings on the following oil stocks:
Apache Corporation (NYSE: APA) Anadarko Petroleum Corporation (NYSE: APC) Cobalt International Energy, Inc. (NYSE: CIE) Cabot Oil & Gas Corporation (NYSE: COG) ConocoPhillips (NYSE: COP) Devon Energy Corp (NYSE: DVN) EOG Resources Inc (NYSE: EOG) Range Resources Corp. (NYSE: RRC) Southwestern Energy Company (NYSE: SWN)GMP analyst Bob Bakanauskas went long E&Ps back on February 3. He predicts that the oil market will transition from oversupply to undersupply in 2017. From that point forward, the world will once again require shale production growth.
- [By WWW.THESTREET.COM]
Range Resources (RRC) was upgraded to outperform at BMO. $44 price target The valuation is more attractive, as business fundamentals are improving, BMO said.
- [By Ben Levisohn]
The large cap E&Ps we cover raised ~ $6.5 billion of equity in 2015 and are likely to consider additional issuance in 2016. Pioneer Natural Resources (PXD) raised $1.3 billion on January 5th and Hess Corp. (HES) raised $1.5 billion of equity/equity-linked earlier this month. We think highly leveraged companies such as Devon Energy,�Encana and�Range Resources (RRC) and companies with a large deficit (before asset sales), such as�Anadarko Petroleum and Devon Energy, are most likely to consider raising equity. Additionally, we believe companies such as WPX Energy (WPX), Southwestern Energy (SWN), Marathon Oil, Continental Resources (CLR),�Noble Energy and Newfield Exploration (NFX) could issue equity while several levered companies may be unwilling or unable to access equity markets. We do not think Apache, Canadian Natural Resource, EOG Resources (EOG), Occidental Petroleum or�Pioneer Natural Resources are likely to issue equity this year.
Top Oil Stocks To Own Right Now: Transocean Inc.(RIG)
Advisors' Opinion:- [By Ben Levisohn]
Transocean (RIG) has gained 2.8% to $11.35 after getting upgraded to Hold from Sell at Evercore ISI.
Esperion Therapeutics (ESPR) has tumbled 32% to $11 after the biotech company said it might not be able to win FDA approval for its anti-cholesterol drug based on its cholesterol-cutting ability alone.
- [By Ben Levisohn]
The Zephirin Group’s Longdley Zephirin contends that the oil market “needs to collapse before it can improve” but that didn’t stop him from upgrading Transocean (RIG), Diamond Offshore Drilling (DO), Ensco (ESV), and Rowan (RDC). He explains why:
- [By Ben Levisohn]
Shares of Noble have gained 5% to $9.32 at 1:59, but that appears downright disappointing next to Seadrill (SDRL), Transocean (RIG) and Atwood Oceanics (ATW). Transocean has climbed 7.2% to $11.28, Seadrill has jumped 7.6% to $3.40, and Atwood Oceanics has soared 9.9% to $12.31.
