ReportWire

Tag: crude oil

  • Crews race storm to contain oil spill in Ventura County creek

    Cleanup was underway Wednesday in a wooded, remote area of Ventura County after about 420 gallons of crude oil inundated a waterway, officials said, and crews were working to beat the upcoming storm.

    An above-ground storage tank operated by Carbon California spilled the oil into a remote tributary of Sisar Creek near Ojai, contaminating about three-quarters of a mile of the waterway, according to state wildlife officials.

    Although the waterway and spill are small compared to some other major oil spills, “everything counts,” said Kristina Meris, a spokesperson for the California Department of Fish and Wildlife’s Office of Spill Prevention and Response.

    “There’s wildlife, there’s the environment, and people live in these areas,” she said. “We want to clean up everything we possibly can as quickly as we can safely.”

    Initial reports of an oil spill were received Tuesday afternoon, Meris said. But steep terrain, limited road access and the approaching severe weather are complicating the cleanup.

    Responders reached the creek bed Wednesday and “hit it pretty hard today,” Meris said, setting up a safety zone around the site. Officials will also conduct air quality tests to evaluate health hazards.

    “It’s a super remote and super difficult area to get to,” Meris told The Times. “The only concern for the response tomorrow will be the bad weather coming in, so the safety of our responders could become an issue.”

    The spill originated from a damaged gas tank owned by Carbon California, a company that operates oil and gas wells in the state, particularly in Ventura County. Officials said the cause remained under investigation, but the company has been designated the responsible party and is participating in a unified command with state and local agencies, which also includes personnel from the Environmental Protection Agency, Fish and Wildlife and the Ventura County Sheriff’s Department.

    Cleanup teams are skimming and pumping oil from the tributary and deploying absorbent booms and pads to recover oil trapped along the creek bed. Crews have been able to contain much of the spill, Meris said, but storm conditions could hamper their efforts.

    They expect to begin reporting recovery totals Thursday morning, though those numbers will likely reflect an “oily water mixture,” not pure crude. “Sometimes it can be a little bit higher than the number [of gallons spilled] because there will be water mixed in,” she said.

    No wildlife had been reported harmed as of Wednesday evening, but Meris emphasized that swift response was critical to preventing harm.

    “The quicker you respond, the quicker you get this cleaned up, the better for the environment,” she said.

    The spill site is far from major roadways, part of what officials described as a rugged stretch of watershed feeding into Sisar Creek. Cleanup operations will pause overnight for safety but are expected to resume Thursday morning, weather permitting.

    Officials did not immediately provide a timeline for a complete cleanup but said the response would continue until the creek met “established environmental endpoints” and recoverable oil product was removed.

    Gavin J. Quinton

    Source link

  • Pump prices could rise after US, EU hit Russian oil companies with new sanctions and oil spikes

    Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine.U.S. benchmark crude jumped 6%, to $62 per barrel midday Thursday and analysts say if the situation remains static, U.S. consumers will soon be paying more at the pump.Patrick De Haan, head of petroleum analysis for GasBuddy, said while it was difficult to predict with certainty because of the number of moving parts, consumers will likely see a bump in prices as early as next week, if not sooner.“We’ll probably start to see motorists be impacted by the sanctions at the pump in the next couple days and it might take five days for that to be fully passed along,” De Haan said, adding that the full impact also depends on whether the Russian or U.S. positions change.“Russia will feel pressure to come to the table in light of the new developments or President Trump may react when he sees oil prices rising to levels that become uncomfortable, so I don’t think this is going to be very long lasting,” De Haan said.Oil prices have been relatively low for the past few years and last week the cost for barrel of U.S. benchmark crude fell below $57, its lowest level since early 2021. The price for a barrel of U.S. benchmark crude did rise near $79 a barrel early this year, just before President Donald Trump took office, a price not necessarily considered outrageously elevated by most analysts.The broad, extended decline in oil prices pushed the average price for a gallon of gas in the U.S. last week under $3 for the first time since December of last year, according to GasBuddy.For much of 2025, inflation has been held mostly in check, partly due to cheaper prices at the pump. However, that could change quickly as higher energy costs have a downstream effect on prices for virtually all products and services across industries.“The impact to a lot of Americans is that products derived from crude, gasoline, diesel and jet fuel are all likely to see price increases,” De Haan said.The main reason oil and gas have stabilized at lower levels this year is that the group of countries that are part of the OPEC+ alliance of oil-exporting countries have continued to boost production. Earlier this month, OPEC+ leaders announced they would raise oil production by 137,000 barrels per day in November, the same amount announced for October. The group has been raising output slightly in a series of boosts all year after announcing cuts in 2023 and 2024.Russia is the leading non-OPEC member in the 22-country alliance. The group’s next meeting is scheduled for Nov. 2.The sanctions against Russian oil giants Rosneft and Lukoil follows calls from Ukrainian President Volodymyr Zelenskyy as well as bipartisan pressure on Trump to hit Russia with harder sanctions on its oil industry, the economic engine that has allowed Russia to continue to execute the grinding conflict even as it finds itself largely internationally isolated. The European Union on Thursday announced its own measures targeting Russian oil and gas.The price for Brent crude, the international standard, rose $3.57 on Thursday to $66.15 per barrel.

    Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine.

    U.S. benchmark crude jumped 6%, to $62 per barrel midday Thursday and analysts say if the situation remains static, U.S. consumers will soon be paying more at the pump.

    Patrick De Haan, head of petroleum analysis for GasBuddy, said while it was difficult to predict with certainty because of the number of moving parts, consumers will likely see a bump in prices as early as next week, if not sooner.

    “We’ll probably start to see motorists be impacted by the sanctions at the pump in the next couple days and it might take five days for that to be fully passed along,” De Haan said, adding that the full impact also depends on whether the Russian or U.S. positions change.

    “Russia will feel pressure to come to the table in light of the new developments or President Trump may react when he sees oil prices rising to levels that become uncomfortable, so I don’t think this is going to be very long lasting,” De Haan said.

    Oil prices have been relatively low for the past few years and last week the cost for barrel of U.S. benchmark crude fell below $57, its lowest level since early 2021. The price for a barrel of U.S. benchmark crude did rise near $79 a barrel early this year, just before President Donald Trump took office, a price not necessarily considered outrageously elevated by most analysts.

    The broad, extended decline in oil prices pushed the average price for a gallon of gas in the U.S. last week under $3 for the first time since December of last year, according to GasBuddy.

    For much of 2025, inflation has been held mostly in check, partly due to cheaper prices at the pump. However, that could change quickly as higher energy costs have a downstream effect on prices for virtually all products and services across industries.

    “The impact to a lot of Americans is that products derived from crude, gasoline, diesel and jet fuel are all likely to see price increases,” De Haan said.

    The main reason oil and gas have stabilized at lower levels this year is that the group of countries that are part of the OPEC+ alliance of oil-exporting countries have continued to boost production. Earlier this month, OPEC+ leaders announced they would raise oil production by 137,000 barrels per day in November, the same amount announced for October. The group has been raising output slightly in a series of boosts all year after announcing cuts in 2023 and 2024.

    Russia is the leading non-OPEC member in the 22-country alliance. The group’s next meeting is scheduled for Nov. 2.

    The sanctions against Russian oil giants Rosneft and Lukoil follows calls from Ukrainian President Volodymyr Zelenskyy as well as bipartisan pressure on Trump to hit Russia with harder sanctions on its oil industry, the economic engine that has allowed Russia to continue to execute the grinding conflict even as it finds itself largely internationally isolated. The European Union on Thursday announced its own measures targeting Russian oil and gas.

    The price for Brent crude, the international standard, rose $3.57 on Thursday to $66.15 per barrel.

    Source link

  • Opinion | Ukraine is Starving Russia of Oil

    Ukrainian President Volodymyr Zelensky has labeled his military’s strikes on Russia’s oil infrastructure “the most effective sanctions.” Meanwhile, reports indicate that alongside urging Europe and India to halt purchases of Russian oil, Washington plans to share additional intelligence with Ukraine on Russian refineries, pipelines and other energy infrastructure.

    Most discussions about these “sanctions” have focused on their financial implications for Russia. Vladimir Putin relies heavily on corruption and patronage, with oil and gas serving as key revenue streams. Disrupting the flow could force Mr. Putin to choose between sustaining the war and maintaining the payouts to oligarchs and citizens that secure his political backing—though such an economic squeeze would take some time.

    Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

    Michael Bohnert

    Source link

  • Austin-based company fined for flaring that led to 7.6 million pounds of excess gases known to cause respiratory issues

    Austin-based company fined for flaring that led to 7.6 million pounds of excess gases known to cause respiratory issues

    New Mexico has reached a record settlement with a Texas-based company over air pollution violations at natural gas gathering sites in the Permian Basin.

    The $24.5 million agreement with Ameredev announced Monday is the largest settlement the state Environment Department has ever reached for a civil oil and gas violation. It stems from the flaring of billions of cubic feet of natural gas that the company had extracted over an 18-month period but wasn’t able to transport to downstream processors.

    Environment Secretary James Kenney said in an interview that the flared gas would have been enough to have supplied nearly 17,000 homes for a year.

    “It’s completely the opposite of the way it’s supposed to work,” Kenney said. “Had they not wasted New Mexico’s resources, they could have put that gas to use.”

    The flaring, or burning off of the gas, resulted in more than 7.6 million pounds of excess emissions that included hydrogen sulfide, sulfur dioxide, nitrogen oxides and other gases that state regulators said are known to cause respiratory issues and contribute to climate change.

    Ameredev in a statement issued Monday said it was pleased to have solved what is described as a “legacy issue” and that the state’s Air Quality Bureau was unaware of any ongoing compliance problems at the company’s facilities.

    “This is an issue we take very seriously,” the company stated. “Over the last four years, Ameredev has not experienced any flaring-related excess emissions events thanks to our significant — and ongoing — investments in various advanced technologies and operational enhancements.”

    While operators can vent or flare natural gas during emergencies or equipment failures, New Mexico in 2021 adopted rules to prohibit routine venting and flaring and set a 2026 deadline for the companies to capture 98% of their gas. The rules also require the regular tracking and reporting of emissions.

    Ameredev said it was capturing more than 98% of its gas when the new venting and flaring rules were adopted, and the annual capture rate has been above 98% ever since.

    A study published in March in the journal Nature calculated that American oil and natural gas wells, pipelines and compressors were spewing more greenhouse gases than the government thought, causing $9.3 billion in yearly climate damage. The authors said it is a fixable problem, as about half of the emissions come from just 1% of oil and gas sites.

    Under the settlement, Ameredev agreed to do an independent audit of its operations in New Mexico to ensure compliance with emission requirements. It must also submit monthly reports on actual emission rates and propose a plan for weekly inspections for a two-year period or install leak and repair monitoring equipment.

    Kenney said it was a citizen complaint that first alerted state regulators to Ameredev’s flaring.

    The Environment Department currently is investigating numerous other potential pollution violations around the basin, and Kenney said it was likely more penalties could result.

    “With a 50% average compliance rate with the air quality regulations by the oil and gas industry,” he said, “we have an obligation to continue to go and ensure compliance and hold polluters accountable.”

    Susan Montoya Bryan, The Associated Press

    Source link

  • Use your hair to help your garden or fight pollution. A Bay Area group shows how

    Use your hair to help your garden or fight pollution. A Bay Area group shows how

    Try answering this off the top of your head: What’s an abundant renewable resource that can spur growth in your garden and clear pollutants from bodies of water?

    The answer, according to a Bay Area nonprofit, is hair.

    Matter of Trust, an ecologically focused group in San Francisco, has been using hair for more than two decades to clean up oil spills and other pollution from bodies of water. Its latest project is encouraging the growth of vegetation in the Presidio in San Francisco, a national park site.

    Matter of Trust is using hair to encourage the growth of vegetation in the Presidio in San Francisco.

    (Matter of Trust)

    The group got its start after learning about Phil McCrory’s hairy idea in the ’90s.

    The inspiration came to McCrory, a hair stylist in Alabama, when he was washing a client’s locks as CNN was showing images of otters covered in crude oil from the Exxon Valdez tanker that slammed into an Alaskan reef in 1989.

    McCrory realized that in his hands was a fiber that soaks up oils, according to Lisa Gautier, founder of Matter of Trust. But after the haircut, it would be swept up, trashed and dumped in a landfill.

    Gautier and McCrory became partners. He developed a way to turn hair, fur, wool or fleece into mats to absorb petroleum. Later, they discovered that the material could be stuffed into recycled burlap sacks and pantyhose to make booms or mats that would soak up oil.

    The idea was put to the test in 2007, when a 926-foot cargo ship, the Cosco Busan, sideswiped a support on the San Francisco-Oakland Bay Bridge. The collision opened a nearly 100-foot-long gash on the side of the ship, causing 58,000 gallons of heavy bunker fuel to leak into the ocean.

    Within hours, Gautier said, she and her team coordinated hundreds of volunteers to place hair-infused booms and mats along San Francisco’s beaches.

    To try to get rid of the waste the booms and mats collected, the team subjected them to two composting methods: worms and thermophilic fungi, or heat-loving bacteria and fungi that can kill pathogens by generating high temperatures. After about 18 months, the hazardous waste was turned into healthy compost, Gautier said.

    The hair mats’ latest job, at the Presidio, will test their fertilizing capabilities.

    The Matter of Trust team places hair into the soil of its vegetables to aid in composting and vegetation

    Hair can be formed into mats that soak up oil or can be used as mulch.

    (Matter of Trust)

    In a pilot study, the hair mats are being used as a mulch on the patchy park land. The results surprised the Presidio Trust’s associate director, Lew Stringer, SFGate reported.

    “The sections we planted using that material as substrate clearly grew more robustly than the control areas,” Stringer said.

    Bay Area and Los Angeles residents who compost or want to boost the vegetation on their property can use human or pet hair. It’s lightweight, and you can put it on top of the soil in your flower pots and garden, Gautier said. If the hair is longer than 2 inches, bury it in the soil to avoid entangling birds’ feet, she recommends.

    If you want to donate hair to Matter of Trust, sign up on the organization’s website, the Hum Sum. Gautier said the group accepts all human, pet and synthetic hair but asks that the various types be packaged separately.

    Karen Garcia

    Source link

  • Exxon scraps plan for new pipeline after 2015 spill — but may try to resurrect old one

    Exxon scraps plan for new pipeline after 2015 spill — but may try to resurrect old one

    Central Coast environmentalists are celebrating ExxonMobil’s recent decision to scrap plans to replace miles of pipeline through Santa Barbara County, key to revitalizing a local network of petroleum energy production shuttered since the catastrophic 2015 Refugio oil spill.

    But at the same time, the oil giant has raised fresh concerns, saying it is instead exploring the possibility of repairing existing, damaged pipeline.

    The years-long effort by oil companies to replace two major segments of pipeline could have allowed the company to restart offshore oil platforms along Santa Barbara County’s coast and an onshore processing plant. These possibilities have been long reviled by local environmental groups and some residents, especially after the catastrophic 2015 spill, which continues to loom large in the region.

    “This [pipeline] replacement has been hanging over the community’s head for five years now,” said Jonathan Ullman, director of the Sierra Club’s Santa Barbara-Ventura chapter. “I was very happy to hear this news; it felt like their withdrawal signified that the writing was on the wall that they could not continue.”

    Ullman said the construction project — had it been approved — had major implications for the environment, wildlife and public health, with heightened risks of oil spills and increased fossil fuel emissions.

    The 2015 spill, caused by “extensive” corrosion on a section of pipeline, hemorrhaged more than 140,000 gallons of crude oil along the Gaviota Coast, much of which ended up in the ocean and along the region’s prized coastline, closing Refugio and El Capitan state beaches for weeks and affecting countless seabirds and marine life. Oil heavily coated a stretch of Santa Barbara County’s coast, with small tar balls reaching as far south as Redondo Beach in Los Angeles County.

    Officials for Pacific Pipeline Co., a subsidiary of Texas-based ExxonMobil, wrote to Santa Barbara County leaders that it had found “the potential environmental impacts associated with the major construction of a second pipeline unnecessary and avoidable,” according to an Oct. 24 letter, withdrawing its proposal from the county’s permitting process.

    The letter, however, also opened the door for another complicated fight in Santa Barbara County, with Exxon officials announcing that the oil giant would change its focus from building replacement pipeline to trying to restore old, damaged pipeline.

    “Recent inspections and analysis affirms … the existing pipeline can be responsibly restarted,” the letter said. It also mentioned that during the replacement pipeline’s environmental review, “staff from the U.S. Army Corps of Engineers and U.S. Environmental Protection Agency indicated that restart of the existing pipeline is likely the Least Environmentally Damaging Practical Alternative under the Federal Clean Water Act.”

    Exxon officials did not release additional information about those reviews but clarified that any “formal decision on the [Least Environmentally Damaging Practical Alternative] cannot be made until the entire environmental review and permitting process is completed.”

    Exxon officials did not respond to questions from The Times requesting further details about such an undertaking, including any analysis of environmental impacts.

    “Pacific Pipeline Company and ExxonMobil have assets that we intend to leverage to deliver reliable energy to Californians and others,” Exxon spokesperson Julie King said in a statement.

    Kelsey Gerckens Buttitta, a spokesperson for Santa Barbara County, said Exxon and its subsidiaries do not have any current applications under review regarding the pipeline, noting that another recent proposal to upgrade multiple valves along the line was not approved this summer. However, any plans to restart the lines would fall under the jurisdiction of the California State Fire Marshal, she said, making it clear that county officials would still be paying attention.

    “The County does have concerns with the integrity of restarting the existing pipeline but we are confident in the California State Fire Marshall’s ability to ensure that these concerns are addressed through their review authority,” Buttitta said in a statement.

    Environmental groups also shared overwhelming concerns about Exxon’s portrayal of restoring the existing pipeline, which was found to be heavily corroded in 2015.

    “At this stage of the climate crisis, building new oil infrastructure is reckless, to say the least,” said Maggie Hall, deputy chief counsel at the Environmental Defense Center, a nonprofit law firm that advocates for environmental protection in Santa Barbara, Ventura and San Luis Obispo counties.

    “However, restarting a corroded and compromised pipeline that already caused one massive oil spill is even worse,” she said in a statement. “There is no way for the pipeline owners to credibly claim it will be safe. If this pipeline is allowed to restart, it’s not a question of if, but when, it will be responsible for another catastrophe.”

    Ullman said he is hopeful that Exxon continuing to show interest in further construction in Santa Barbara County is simply a ploy by the company to keep investors interested, because he doesn’t believe such a plan could be successful.

    “That pipeline cannot be repaired,” Ullman said. “It must be abandoned for the safety of the people who travel on the Gaviota Coast, but also for the massive amount of wildlife and sea life that’s there now.”

    The ruptured pipeline that created the 2015 spill was built in 1987 and extended about 11 miles along the Gaviota Coast. It is part of a larger oil transport network that expands into Kern County, which Exxon had hoped to rebuild almost entirely, for a total of more than 120 miles through Santa Barbara County.

    With the replacement project now halted, Ullman hopes to see the existing lines — still not in operation — removed.

    “We’re still dealing with the consequences and the threats,” Ullman said. “The Gaviota Coast is really a special place … and worth protecting.”

    Grace Toohey

    Source link

  • Here’s what the Israel-Hamas war has done to U.S. gasoline and diesel prices

    Here’s what the Israel-Hamas war has done to U.S. gasoline and diesel prices

    Fuel prices, with the cost of gasoline and diesel at the pump both down from a month ago, don’t appear to be fazed by the escalating risks to oil supplies in the Middle East from the Israel-Hamas war, but they are.

    The decline in fuel prices seen nationally is actually a “bit above what would be ‘normal’ for this time of year,” said Patrick De Haan, head of petroleum analysis at GasBuddy. However, he believes “prices won’t fall as far as they would have had the attacks on Israel not happened.”

    On Friday, the average retail price for a gallon of regular gasoline stood at $3.528, down 5.7 cents from a week ago, while the average retail diesel price was at $4.465 a gallon on Friday, down 7.8 cents from Sept. 30, according to data from GasBuddy.

    U.S. retail gasoline prices have fallen so far this month.


    GasBuddy

    “Geopolitical risk is now heightened, changing the calculus” for the fuel market, said Brian Milne, product manager, editor and analyst at DTN.

    ‘Seasonal component’

    In considering retail gasoline prices during the fourth quarter, the “seasonal component is less pronounced than in years past,” said Milne. Demand for gasoline tends to fall following the summer travel season. Combined with a “strong slate of refinery maintenance,” which led to less fuel supply on the market, the rise in crude oil prices has slowed the decline in fuel prices, said Milne.

    If not for the heightened geopolitical risk in the Middle East, he said he might have expected to see gasoline prices decline by another 30 cents to 40 cents per gallon into late December because of lower demand.

    Retail gas prices may fall another 20 cents a gallon or more, depending on the location within the U.S., if we avoid broader hostilities in the Middle East, said Milne.

    However, if a conflict breaks out beyond Israel and the Gaza Strip, gasoline prices are likely to move sharply higher because of a spike in crude costs, he said.

    For its part, oil has seen volatile trading following the Hamas attack on Israel on Oct. 7, with futures prices for U.S. benchmark West Texas Intermediate crude
    CLZ23,
    -0.42%

    CL.1,
    -0.39%

    higher for the week, but lower for the month.

    California prices ‘plummet’

    For now, California, which typically is among the states that pays the most per-gallon for gasoline partly due to taxes on the fuel, is seeing prices “plummet” — down nearly 60 cents in the last three weeks, said GasBuddy’s De Haan.

    “The West Coast is certainly seeing a much larger decline than is ‘normal’ and it’s due to the refinery situation now improving drastically,” as well as California’s RVP waiver, he said.

    The California Air Resources Board allowed gasoline sold or supplied for use in California that exceeds the RVP, or Reid Vapor Pressure, limits through the end of Oct. 31, marking an early transition for the state from the lower RVP gas used in the summer to help cut gasoline emissions to the higher RVP gas used in the winter.

    On Friday, the average price for a gallon of regular gasoline in California sold for $5.476, GasBuddy data show. That’s down 16.7 cents in just the last week.

    Gas price outlook

    De Haan said he does not expect to see a spike in gas prices nationally at this point, and there’s still room for prices to fall — just not as much following the Hamas attack on Israel.

    “If we get to November and Iran gets involved in the situation, then we certainly could see gas prices impacted in some way as the current drops will likely be fully passed on by then, giving stations no ‘room’ to absorb higher prices reflected by a potential rise in oil,” said De Haan.

    Still, falling demand, as well as “seasonality in general,” are what are pushing prices down, “enhanced by refinery improvements in areas” that saw price surges, he said.

    Prices may even fall further after refinery maintenance season wraps up in mid-November, and refiners have to find places to put even more gasoline output, said De Haan.

    He’s comfortable with the gasoline price forecasts GasBuddy issued in December of last year, which predicted a monthly national average for the fuel of $3.53 for October — matching the current price. The forecast also called for an average of $3.36 a gallon for November and $3.17 for December.

    GasBuddy doesn’t have a forecast for 2024 yet, but prices may look similar to this year, as long as the situation in the Middle East doesn’t further crumble,” said De Haan.

    View on diesel

    Diesel, however, is another story.

    Price for that fuel have dropped by 85.5 cents a gallon from a year ago to Friday’s $4.465 level, GasBuddy data show.

    U.S. retail diesel prices are sharply lower than a year ago.


    GasBuddy

    While down from a year ago, diesel prices are currently at a “very high level historically” because global supply is low, said DTN’s Milne.

    At this time in 2022 diesel fuel inventory was even tighter than it is now, and Europe was heading into winter without Russian natural gas after it was cutoff following the invasion of Ukraine, he said.

    That led to a spike in natural-gas prices and prices for gasoil, a European heating oil, also surged, lifting heating oil and diesel prices globally, explained Milne.

    Like gasoline, diesel prices could move “sharply higher if the war in Israel expands, and oil flow is put at greater risk,” he said.

    De Haan, meanwhile, said diesel prices could climb closer to $5 a gallon if there’s a “squeeze,” with relief then [coming] in the spring/summer” seasons.

    Source link

  • Here’s how to play oil-industry stocks for long-term growth of 20% or more

    Here’s how to play oil-industry stocks for long-term growth of 20% or more

    Oil demand is likely to hold up longer than many people expect during the anticipated transition to electric vehicles. And changes in the industry point to oilfield services companies as good long-term growth investments as offshore production ramps up.

    Below is a list of oil producers and related companies favored by two analysts who have followed the industry for decades.

    U.S….

    Source link

  • Icahn Enterprises’ stock choppy as company moves earnings release to next week

    Icahn Enterprises’ stock choppy as company moves earnings release to next week

    Trading in shares of Icahn Enterprises LP was choppy Thursday amid the continued fallout from a short seller’s report that was critical of the investment arm of activist investor Carl Icahn.

    The stock IEP was moving between gains and losses, but has lost 36% of its value and $6.5 billion of market cap this week in the wake of the report, which accused Icahn Enterprises of inflating its value. On Wednesday, the company said it is moving the release of first-quarter earnings to before market open on May 10. The earnings were…

    Source link

  • Icahn Enterprises sheds $4.5 billion of value as short seller Hindenburg puts Carl Icahn’s company in crosshairs

    Icahn Enterprises sheds $4.5 billion of value as short seller Hindenburg puts Carl Icahn’s company in crosshairs

    Icahn Enterprises LP stock tumbled 25% Tuesday to put it on track for a record one-day decline, after short seller Hindenburg Research issued a negative report against the investment arm of activist investor Carl Icahn.

    The stock’s previous one-day record decline was a loss of 19.5% on Nov. 20, 2008. The market cap loss today is about $4.48 billion.

    Icahn…

    Source link

  • The surprise OPEC+ oil production cuts will increase gas prices — here’s how much

    The surprise OPEC+ oil production cuts will increase gas prices — here’s how much

    Surprise crude oil production cuts from Saudi Arabia and other oil-rich countries shouldn’t produce worries of skyrocketing gas costs for U.S. drivers still smarting from last year’s pump price shocks, according to fuel industry experts.

    At a time when gas prices are already increasing because of rising seasonal demand, the slashed crude oil output that Saudi Arabia announced Sunday will translate into higher prices, they say. But compared to last year — when energy markets were absorbing the initial impact of Russia’s invasion of Ukraine — the altitude on those gas price increases may not feel so steep.

    On Monday, the national average for a gallon of gas was $3.50, according to AAA. That’s around 10 cents more than a month ago, but almost 70 cents less than the $4.19 average cost one year ago.

    The effects of decreased oil production could translate into initial price increases of up to 15 cents per gallon, according to two different energy sector watchers.

    There’s Patrick De Haan, head of petroleum analysis at GasBuddy.

    At OPIS, an outlet focused on energy sector news and analytics, Chief Oil Analyst Denton Cinquegrana said he was previously expecting summer gas prices to average around $3.60.

    “This move probably boosts that by about 10 – 15 cents to about $3.70-3.75/gal.” Cinquegrana told MarketWatch.

    OPIS is owned by Dow Jones, which also owns MarketWatch.

    It’s possible for gas price averages to hit around $3.60 in the next week or so, he said. The other 10 to 15 cents might filter into retail pump prices later this month or in early May, according to Cinquegrana.

    The surprise move came from Saudi Arabia and other members of OPEC+, the Organization of the Petroleum Exporting Countries and allies, including Russia. In Saudi Arabia, officials were reportedly “irritated” by recent remarks from U.S. Energy Secretary Jennifer Granholm.

    After the Biden administration tapped the country’s strategic petroleum reserve to combat last year’s high gas costs, Granholm said it will difficult to restock the reserve.

    By May, more than 1 million barrels of oil a day will be slashed from output in the global energy markets. That’s in addition to OPEC+ production cuts announced last fall.

    In cost breakdowns for a gallon of gas, the price of crude oil is responsible for more than half the price tag, according to the U.S. Energy Information Administration.

    In Monday morning trading, the price of West Texas Intermediate crude for May delivery jumped 6% to just over $80 on the New York Mercantile Exchange.

    For context, when gas prices were breaking records last year, the costs of West Texas Intermediate crude were in the triple digits. While retail prices surged in early March 2022, West Texas Intermediate crude briefly traded for more than $130 during the trading day on March 7, 2022.

    The national average for a gallon of gas hit a record $5.01 in mid-June, according to AAA. In the current context, Cinquegrana doesn’t see a return to $5 gas averages, he said. Gas prices vary across the nation. California drivers are paying $4.80 on average while Mississippi drivers are paying $3.02 per gallon. 

    Even if price increases are not as sharp as last year, hot inflation is retreating slowly. So any extra costs are unwelcome to millions of American drivers who are living their lives and more frequently commuting to the office.

    Like last year, oil prices are poised to increase, said AAA spokesman Devin Gladden.

    But the economy’s background noise right now could dampen the impact as downturn worries keep sticking around, he added. Furthermore, there can be discrepancies in the announced production reductions and the amounts that are actually reduced, Gladden said.

    “If recessionary concerns persist in the market, oil price increases may be limited due to the market believing lower oil demand will lead to lower prices this year,” he said.

    On Monday, energy sector stocks and related exchange traded funds were climbing after the production cut news. In early afternoon trading, the Dow Jones Industrial Average
    DJIA,
    +0.81%

    was up more than 200 points, or 0.7%, while the S&P 500
    SPX,
    -0.03%

    is little changed and the Nasdaq Composite
    COMP,
    -0.98%

    dropped 100 points, or 0.8%.

    Source link

  • Biden approves Willow oil-drilling permit in Alaska. It’s a ‘carbon bomb,’ one group says.

    Biden approves Willow oil-drilling permit in Alaska. It’s a ‘carbon bomb,’ one group says.

    The Biden administration approved the large-scale and controversial Willow drilling project for ConocoPhillips on Alaska’s oil-rich North Slope on Monday.

    The approval, although with some conditions, is one of President Joe Biden’s most consequential climate choices of his first administration.

    It’s a blemish, say environmental groups, to…

    Source link

  • Three Oil Stocks Exposed to Natural-Gas Plunge

    Three Oil Stocks Exposed to Natural-Gas Plunge

    Natural-gas prices have tumbled this year because of warm weather and high levels of gas in storage in Europe and elsewhere. U.S. prices are down 45% to $2.46 per million British thermal units.

    The drop has impacted stocks of some natural-gas producers, though not nearly as much as the price of the commodity itself. As natural-gas prices stay low, however, the impact could widen and pressure a larger group of companies. Stocks of oil producers that also produce significant amounts of gas are vulnerable to the decline, too. Overall, free cash flow for large-cap producers could fall 33% from 2022 levels, according to Citi analyst Scott Gruber. That could keep some oil companies from being able to boost their dividends and buybacks as much as they did last year.

    Source link

  • Shell adjusted profit of $9.8 billion beats forecasts, boosted by soaring energy prices

    Shell adjusted profit of $9.8 billion beats forecasts, boosted by soaring energy prices

    LONDON–Shell PLC became the latest oil giant to post record annual profit last year, joining U.S. peers in surging back from early pandemic losses on soaring energy prices.

    Shell’s
    SHEL,
    +3.00%

    SHELL,
    +2.24%

    SHEL,
    -0.83%

    $41.6 billion full-year profit surpassed the London-based company’s previous record of $31.4 billion in 2008, measured on a net current-cost-of-supplies basis–a figure similar to the net income that U.S. oil companies report.

    The results bring to more than $132 billion the combined profit last year of the three big majors including historic results from Chevron Corp. and Exxon Mobil Corp., reported during the past week. Their hauls, driven by strong global energy demand, erase billions of dollars of losses incurred during Covid lockdowns as global travel and economic activity sputtered.

    Shell’s earnings included fourth-quarter profit on a net current-cost-of-supplies basis of $11.4 billion, compared with $11.2 billion in the year-ago period. Results were boosted by strong performance in Shell’s liquefied natural-gas business, which benefited from soaring global demand after Russia cut off pipeline gas supplies to Europe.

    Adjusted fourth-quarter earnings, which strip out certain commodity-price adjustments and one-time charges, were $9.8 billion. That beat the consensus forecast of $8 billion for the quarter in a survey of 28 analysts compiled for Shell by an outside firm.

    Shell’s results are the first reported under Chief Executive Officer Wael Sawan, who took over the role Jan. 1 from longtime boss Ben van Beurden. The 48-year-old Mr. Sawan, a dual Lebanese-Canadian national who joined Shell in 1997, rose through the ranks to oversee Shell’s natural-gas business, which has driven record profits, and more recently renewable energy.

    Write to Jenny Strasburg at jenny.strasburg@wsj.com

    Source link

  • U.S. stocks climb as GDP report shows economy taking Fed’s rate hikes in stride

    U.S. stocks climb as GDP report shows economy taking Fed’s rate hikes in stride

    U.S. stocks opened higher on Thursday as optimism over Tesla’s earnings results and a stronger-than-expected GDP report left investors in a better mood following Wednesday’s intraday selloff.

    How are stocks trading
    • The S&P 500
      SPX,
      +0.40%

      rose by 34 points, or 0.8%, to 4,049.

    • Dow Jones Industrial Average
      DJIA,
      +0.05%

      gained 145 points, or 0.4%, to 33,889.

    • Nasdaq Composite
      COMP,
      +0.89%

      advanced 174 points, or 1.5%, to 11,487.

    The Dow Jones Industrial Average finished Wednesday’s session up 10 points after falling roughly 400 points at the lows earlier in the session. The S&P 500 finished little-changed after erasing its early losses, while the Nasdaq ended lower.

    What’s driving markets

    Stocks opened higher after a flurry of economic data including a fourth quarter GDP report that came in stronger than expected, but the focus was on the latest batch of earnings, which helped to revive investors’ optimism following disappointing guidance from Microsoft Corp.
    MSFT,
    +1.35%

    earlier in the week.

    The economy grew at a robust 2.9% annual pace to close out 2022, according to the first estimate of fourth quarter GDP, released Thursday morning — the latest sign that the U.S. economy is holding up well despite the Federal Reserve’s aggressive interest-rate hikes.

    “Thursday’s GDP report suggests that the economy is relatively strong even in the face of aggressive measures by the Federal Reserve to calm inflation,” said Carol Schleif, chief investment officer, BMO Family Office, in emailed commentary.

    Stocks rose after the data were released as investors found solace in the latest signs that a soft landing for the U.S. economy — a scenario where growth slows, but a recession is avoided — remains possible, or even likely.

    “This is a bit of a relief rally,” said Christopher Zook, chairman and chief investment officer of CAZ Investments.

    However, corporate earnings and guidance are still the primary concern for investors, along with expectations about when the Federal Reserve will cut interest rates, Zook said.

    The labor market also showed signs of strength despite more reports of layoffs in the tech, finance and media spaces, as the number of Americans filing for unemployment benefits fell to their lowest level since April. Investors also digested durable goods orders for December. New home sales for December will be published at 10 a.m. ET.

    Investors also celebrated a surge in Tesla Inc.
    TSLA,
    +9.64%

    shares premarket after the firm released well-received results that showed record quarterly profits.

    Disappointing guidance from technology behemoth Microsoft had clobbered stocks on Wednesday as traders worried it signaled not just difficulties for the sector but also broadly worsening economic conditions.

    However, before the end of Wednesday’s session, Microsoft shares had recovered most of their 4.5% loss and the S&P 500 finished the session almost exactly where it began, according to data from FactSet.

    As for the Federal Reserve, the central bank is expected to slow the pace of interest rate hikes when it next week raises its policy rate by 25 basis points to a range of 4.5% to 4.75%.

    Companies announcing results on Thursday include: McDonald’s
    MCD,
    -0.28%
    ,
    Intel
    INTC,
    -0.34%
    ,
    Comcast
    CMCSA,
    +0.86%
    ,
    Visa
    V,
    +0.15%
    ,
    Dow
    DOW,
    -1.16%
    ,
    Whirl pool
    WHR,
    -0.91%
    ,
    Western Digital
    WDC,
    +3.72%

    and Northrop Grumman
    NOC,
    -0.90%
    .

    Companies in focus

    Source link

  • 5 Energy Stocks Poised to Keep Growing Earnings

    5 Energy Stocks Poised to Keep Growing Earnings

    Several energy companies are expected to post record earnings in 2022.


    Exxon Mobil


    alone is on track to make about $60 billion. But 2023 is a different story. While the setup is still very strong for most oil-and-gas companies, many are expected to see their earnings per share fall from 2022 levels.

    Oil prices have fallen well below last year’s highs, and natural gas has slipped too. Producers of oil and gas are also expecting higher costs this year, with oil services companies raising their rates. 

    Source link

  • These 20 stocks were the biggest winners of 2022

    These 20 stocks were the biggest winners of 2022

    Even during a year in which the S&P 500 index declined 19%, with 72% of its stocks in the red, there were plenty of winners.

    Before showing you the list of the best performers in the benchmark index, let’s look at a preview: Here’s how the 11 sectors of the S&P 500
    SPX,
    -0.25%

    performed for the year:

    Index

    2022 price change

    Forward P/E

    Forward P/E as of Dec. 31, 2021

    Energy

    59.0%

    9.7

    11.1

    Utilities

    -1.4%

    18.9

    20.4

    Consumer Staples

    -3.2%

    21.0

    21.8

    Health Care

    -3.6%

    17.6

    17.2

    Industrials

    -7.1%

    18.3

    20.8

    Financials

    -12.4%

    11.9

    14.6

    Materials

    -14.1%

    15.8

    16.6

    Real Estate

    -28.4%

    16.5

    24.2

    Information Technology

    -28.9%

    20.1

    28.1

    Consumer Discretionary

    -37.6%

    21.3

    33.2

    Communication Services

    -40.4%

    14.3

    20.8

    S&P 500

    -19.4%

    16.8

    21.4

    Source: FactSet

    Maybe you aren’t surprised to see that the energy sector was the only one to increase during 2022. But it might surprise you to see that despite the sector’s weighted price increase of 59%, its forward price-to-earnings ratio declined and remains very low relative to all other sectors.

    It might also surprise you that West Texas Intermediate crude oil
    CL.1,
    +2.69%

    gave up most of its gains from earlier in the year:


    FactSet

    The reason investors are still confident in energy stocks is that oil producers have remained cautious when it comes to capital spending. They don’t want to increase supply enough to cause prices to crash, as they did in the run-up to the summer of 2014, after which prices fell steadily through early 2016, causing bankruptcies and consolidation in the industry.

    Now the oil companies are focusing on maintaining supply, raising dividends and buying back shares, as Occidental Petroleum Corp.’s
    OXY,
    +1.14%

    chief executive explained in a recent interview with Matt Peterson. Click here for more about Occidental and the long-term supply/demand outlook for oil.

    Best-performing S&P 500 stocks of 2022

    Here are the 20 stocks in the benchmark index that rose most during 2022, excluding dividends. Proving that there are always exceptions, not all of them are in the energy sector.

    Company

    Ticker

    Sector

    Industry

    2022 price change

    Occidental Petroleum Corp.

    OXY,
    +1.14%
    Energy

    Oil & Gas Production

    117.3%

    Hess Corp.

    HES,
    +0.68%
    Energy

    Oil & Gas Production

    91.6%

    Marathon Petroleum Corp.

    MPC,
    +0.18%
    Energy

    Oil Refining/ Marketing

    81.9%

    Exxon Mobil Corp.

    XOM,
    +1.01%
    Energy

    Integrated Oil

    80.3%

    Schlumberger Ltd.

    SLB,
    +1.04%
    Energy

    Contract Drilling

    78.5%

    APA Corp.

    APA,
    +1.68%
    Energy

    Integrated Oil

    73.6%

    Halliburton Co.

    HAL,
    +1.23%
    Energy

    Oil & Gas Production

    72.1%

    First Solar Inc.

    FSLR,
    +0.68%
    Information Technology

    Semiconductors

    71.9%

    Valero Energy Corp.

    VLO,
    +0.43%
    Energy

    Oil Refining/ Marketing

    68.9%

    Marathon Oil Corp.

    MRO,
    +1.08%
    Energy

    Oil & Gas Production

    64.9%

    ConocoPhillips

    COP,
    +1.38%
    Energy

    Oil & Gas Production

    63.5%

    Steel Dynamics Inc.

    STLD,
    -0.72%
    Materials

    Steel

    57.4%

    EQT Corp.

    EQT,
    -0.12%
    Energy

    Oil & Gas Production

    55.1%

    Chevron Corp.

    CVX,
    +0.66%
    Energy

    Integrated Oil

    53.0%

    McKesson Corp.

    MCK,
    Health Care

    Medical Distributors

    50.9%

    Cardinal Health Inc.

    CAH,
    -0.46%
    Health Care

    Medical Distributors

    49.3%

    EOG Resources Inc.

    EOG,
    +0.69%
    Energy

    Oil & Gas Production

    45.8%

    Enphase Energy Inc.

    ENPH,
    -0.20%
    Information Technology

    Semiconductors

    44.8%

    Merck & Co. Inc.

    MRK,
    +0.12%
    Health Care

    Pharmaceuticals

    44.8%

    Cigna Corp.

    CI,
    +0.19%
    Health Care

    Managed Health Care

    44.3%

    Source: FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Don’t Miss: These 20 stocks were the biggest losers of 2022

    Source link

  • These 20 energy stocks are worth a look if you think oil prices will soar in 2023

    These 20 energy stocks are worth a look if you think oil prices will soar in 2023

    Harris Kupperman, the president of Praetorian Capital, made a couple of interesting calls heading into 2022. He predicted that stocks of the giant tech-oriented companies that led the bull market would be sold off, and that oil prices would continue to rise through the end of 2022.

    The first prediction came true, while the second one for oil prices fizzled. After rising to $130 in March, oil prices have fallen back to where they started the year. Then again, that second prediction still could have made you a lot of money because the share prices of oil companies kept rising anyway.

    That leads to a new prediction for 2023 and a related stock screen below.

    Here’s a chart showing the movement of front-month contract prices for West Texas Intermediate (WTI) crude oil
    CL.1,
    -0.62%

    since the end of 2021:


    FactSet

    Even though Kupperman didn’t get his oil price call right, the energy sector of the S&P 500
    SPX,
    -1.20%

    was up 60% for 2022 through Dec. 27, excluding dividends. That is the only one of the 11 S&P 500 sectors to show a gain in 2022. And the energy sector is also cheapest relative to earnings expectations, with a forward price-to-earnings ratio of 9.8, compared with 16.7 for the full S&P 500.

    WTI pulled back from its momentary peak at $130.50 in early March, but that didn’t reverse the long-term trend of low capital spending by oil and natural gas producers, which has given investors confidence that supplies will remain tight.

    Vicki Hollub, the CEO of Occidental Petroleum Corp.
    OXY,
    -3.50%

    the best-performing S&P 500 stock of 2022 — said during a recent interview that there was “no pressure to increase production right now,” citing a $40 per barrel break-even point for oil prices.

    Kupperman now expects strong demand and low supplies to push oil as high as $200 a barrel in 2023.

    At the end of November, these 20 oil companies stood out as reasonable plays for 2023 based on expectations for free-cash-flow generation and dividend payments.

    For this next screen, we are only looking at ratings and consensus price targets among analysts polled by FactSet.

    There are 23 energy stocks in the S&P 500, and you can invest in that group easily by purchasing shares of the Energy Select SPDR ETF
    XLE,
    -2.24%
    .
    We can expand the list of large-cap names by looking at the components of the iShares Global Energy ETF
    IXC,
    -1.91%
    ,
    which holds all the energy stocks in the S&P 500 plus large players based outside the U.S.

    The top five holdings of IXC are:

    Company

    Ticker

    Country

    % of portfolio

    Share “buy” ratings

    Dec. 27 price

    Price target

    Implied 12-month upside potential

    Exxon Mobil Corp.

    XOM,
    -1.64%
    U.S.

    16.4%

    54%

    110.19

    118.89

    7.89%

    Chevron Corp.

    CVX,
    -1.48%
    U.S.

    11.5%

    54%

    179.63

    190.52

    6.06%

    Shell PLC

    SHEL,
    -0.70%
    U.K.

    7.8%

    83%

    23.67

    29.82

    25.99%

    TotalEnergies SE

    TTE,
    -1.40%
    France

    5.6%

    62%

    59.63

    64.40

    8.00%

    ConocoPhillips

    COP,
    -2.67%
    U.K.

    5.4%

    83%

    118.47

    140.84

    18.88%

    Source: FactSet

    Prices on the tables in this article are in local currencies.

    IXC holds 51 stocks. To expand the list for a stock screen, we added the energy stocks in the S&P 400 Mid Cap Index
    MID,
    -1.24%

    and the S&P Small Cap 600 Index
    SML,
    -1.89%

    to bring the list up to 91 companies, which we then pared to 83 covered by at least five analysts polled by FactSet.

    Here are the 20 companies in the list with at least 75% “buy” or equivalent ratings that have the most upside potential over the next 12 months, based on consensus price targets:

    Company

    Ticker

    Country

    Share “buy” ratings

    Dec. 27 price

    Price target

    Implied 12-month upside potential

    EQT Corp.

    EQT,
    -7.82%
    U.S.

    83%

    36.34

    59.14

    63%

    Green Plains Inc.

    GPRE,
    -2.72%
    U.S.

    80%

    29.80

    43.40

    46%

    Cameco Corp.

    CCO,
    +0.33%
    Canada

    100%

    30.48

    44.25

    45%

    Talos Energy Inc.

    TALO,
    -8.40%
    U.S.

    86%

    19.77

    28.67

    45%

    Ranger Oil Corp. Class A

    ROCC,
    -6.22%
    U.S.

    100%

    41.33

    58.00

    40%

    Tourmaline Oil Corp.

    TOU,
    -4.92%
    Canada

    100%

    71.40

    98.83

    38%

    Civitas Resources Inc.

    CIVI,
    -4.06%
    U.S.

    100%

    58.82

    80.83

    37%

    Inpex Corp.

    1605,
    -2.08%
    Japan

    88%

    1,477.00

    1,965.56

    33%

    Diamondback Energy Inc.

    FANG,
    -2.26%
    U.S.

    84%

    137.58

    181.90

    32%

    Santos Limited

    STO,
    -3.12%
    Australia

    100%

    7.20

    9.26

    29%

    Matador Resources Co.

    MTDR,
    -3.98%
    U.S.

    79%

    57.59

    73.75

    28%

    Targa Resources Corp.

    TRGP,
    -2.63%
    U.S.

    95%

    73.89

    94.05

    27%

    Cenovus Energy Inc.

    CVE,
    -2.55%
    Canada

    84%

    26.24

    33.22

    27%

    Shell PLC

    SHEL,
    -0.70%
    U.K.

    83%

    23.67

    29.82

    26%

    Ampol Limited

    ALD,
    -2.89%
    Australia

    85%

    28.29

    35.01

    24%

    EOG Resources Inc.

    EOG,
    -3.54%
    U.S.

    79%

    132.08

    157.52

    19%

    ConocoPhillips

    COP,
    -2.67%
    U.S.

    83%

    118.47

    140.84

    19%

    Repsol SA

    REP,
    -0.66%
    Spain

    75%

    15.05

    17.88

    19%

    Halliburton Co.

    HAL,
    -3.03%
    U.S.

    86%

    39.27

    45.95

    17%

    Marathon Petroleum Corp.

    MPC,
    -1.97%
    U.S.

    76%

    116.82

    132.56

    13%

    Source: FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Source link

  • Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

    Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

    Following a sharp and sustained rise in interest rates, U.S. stocks have taken a broad beating this year.

    But 2023 may bring very different circumstances.

    Below are lists of analysts’ favorite stocks among the benchmark S&P 500
    SPX,
    the S&P 400 Mid Cap Index
    MID
    and the S&P Small Cap 600 Index
    SML
    that are expected to rise the most over the next year. Those lists are followed by a summary of opinions of all 30 stocks in the Dow Jones Industrial Average
    DJIA.

    Stocks rallied on Dec. 13 when the November CPI report showed a much slower inflation pace than economists had expected. Investors were also anticipating the Federal Open Market Committee’s next monetary policy announcement on Dec. 14. The consensus among economists polled by FactSet is for the Federal Reserve to raise the federal funds rate by 0.50% to a target range of 4.50% to 4.75%.

    Read: 5 things to watch when the Fed makes its interest-rate decision

    A 0.50% increase would be a slowdown from the four previous increases of 0.75%. The rate began 2022 in a range of zero to 0.25%, where it had sat since March 2020.

    A pivot for the Fed Reserve and the possibility that the federal funds rate will reach its “terminal” rate (the highest for this cycle) in the near term could set the stage for a broad rally for stocks in 2023.

    Wall Street’s large-cap favorites

    Among the S&P 500, 92 stocks are rated “buy” or the equivalent by at least 75% of analysts working for brokerage firms. That number itself is interesting — at the end of 2021, 93 of the S&P 500 had this distinction. Meanwhile, the S&P 500 has declined 16% in 2022, with all sectors down except for energy, which has risen 53%, and the utilities sector, which his risen 1% (both excluding dividends).

    Here are the 20 stocks in the S&P 500 with at least 75% “buy” or equivalent ratings that analysts expect to rise the most over the next year, based on consensus price targets:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    EQT Corp.

    EQT Oil and Gas Production

    $36.91

    $59.70

    62%

    78%

    69%

    Catalent Inc.

    CTLT Pharmaceuticals

    $45.50

    $72.42

    59%

    75%

    -64%

    Amazon.com Inc.

    AMZN Internet Retail

    $90.55

    $136.02

    50%

    91%

    -46%

    Global Payments Inc.

    GPN Misc. Commercial Services

    $99.64

    $147.43

    48%

    75%

    -26%

    Signature Bank

    SBNY Regional Banks

    $122.73

    $180.44

    47%

    78%

    -62%

    Salesforce Inc.

    CRM Software

    $133.11

    $195.59

    47%

    80%

    -48%

    Bio-Rad Laboratories Inc. Class A

    BIO Medical Specialties

    $418.28

    $591.00

    41%

    100%

    -45%

    Zoetis Inc. Class A

    ZTS Pharmaceuticals

    $152.86

    $212.80

    39%

    87%

    -37%

    Delta Air Lines Inc.

    DAL Airlines

    $34.77

    $48.31

    39%

    90%

    -11%

    Diamondback Energy Inc.

    FANG Oil and Gas Production

    $134.21

    $182.33

    36%

    84%

    24%

    Caesars Entertainment Inc

    CZR Casinos/ Gaming

    $50.27

    $67.79

    35%

    81%

    -46%

    Alphabet Inc. Class A

    GOOGL Internet Software/ Services

    $93.31

    $125.70

    35%

    92%

    -36%

    Halliburton Co.

    HAL Oilfield Services/ Equipment

    $34.30

    $45.95

    34%

    86%

    50%

    Alaska Air Group Inc.

    ALK Airlines

    $45.75

    $61.08

    34%

    93%

    -12%

    Targa Resources Corp.

    TRGP Gas Distributors

    $70.42

    $93.95

    33%

    95%

    35%

    Charles River Laboratories International Inc.

    CRL Misc. Commercial Services

    $201.94

    $269.25

    33%

    88%

    -46%

    ServiceNow Inc.

    NOW Information Technology Services

    $401.64

    $529.83

    32%

    92%

    -38%

    Take-Two Interactive Software Inc.

    TTWO Software

    $102.61

    $135.04

    32%

    79%

    -42%

    EOG Resources Inc.

    EOG Oil and Gas Production

    $124.06

    $158.24

    28%

    82%

    40%

    Southwest Airlines Co.

    LUV Airlines

    $38.94

    $49.56

    27%

    76%

    -9%

    Source: FactSet

    Most of the companies on the S&P 500 list expected to soar in 2023 have seen large declines in 2022. But the company at the top of the list, EQT Corp.
    EQT,
    is an exception. The stock has risen 69% in 2022 and is expected to add another 62% over the next 12 months. Analysts expect the company’s earnings per share to double during 2023 (in part from its expected acquisition of THQ), after nearly a four-fold EPS increase in 2022.

    Shares of Amazon.com Inc.
    AMZN
    are expected to soar 50% over the next year, following a decline of 46% so far in 2022. If the shares were to rise 50% from here to the price target of $136.02, they would still be 18% below their closing price of 166.72 at the end of 2021.

    Read: Here’s why Amazon is Citi’s top internet stock idea

    You can see the earnings estimates and more for any stock in this article by clicking on its ticker.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Mid-cap stocks expected to rise the most

    The lists of favored stocks are limited to those covered by at least five analysts polled by FactSet.

    Among components of the S&P 400 Mid Cap Index, there are 84 stocks with at least 75% “buy” ratings. Here at the 20 expected to rise the most over the next year:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    Arrowhead Pharmaceuticals Inc.

    ARWR Biotechnology

    $31.85

    $69.69

    119%

    83%

    -52%

    Lantheus Holdings Inc.

    LNTH Medical Specialties

    $54.92

    $102.00

    86%

    100%

    90%

    Progyny Inc.

    PGNY Misc. Commercial Services

    $31.21

    $55.57

    78%

    100%

    -38%

    Coherent Corp.

    COHR Electronic Equipment/ Instruments

    $35.41

    $60.56

    71%

    84%

    -48%

    Exelixis Inc.

    EXEL Biotechnology

    $16.08

    $26.07

    62%

    81%

    -12%

    Darling Ingredients Inc.

    DAR Food: Specialty/ Candy

    $61.17

    $97.36

    59%

    93%

    -12%

    Perrigo Co. PLC

    PRGO Pharmaceuticals

    $31.83

    $49.25

    55%

    100%

    -18%

    Mattel Inc.

    MAT Recreational Products

    $17.39

    $26.58

    53%

    87%

    -19%

    ACI Worldwide Inc.

    ACIW Software

    $20.75

    $31.40

    51%

    83%

    -40%

    Topgolf Callaway Brands Corp.

    MODG Recreational Products

    $21.99

    $32.91

    50%

    83%

    -20%

    Dycom Industries Inc.

    DY Engineering and Construction

    $86.03

    $128.13

    49%

    100%

    -8%

    Travel + Leisure Co.

    TNL Hotels/ Resorts/ Cruiselines

    $37.98

    $56.00

    47%

    75%

    -31%

    Frontier Communications Parent Inc.

    FYBR Telecommunications

    $25.21

    $36.18

    44%

    82%

    -15%

    Manhattan Associates Inc.

    MANH Software

    $120.06

    $171.80

    43%

    88%

    -23%

    MP Materials Corp Class A

    MP Other Metals/ Minerals

    $31.39

    $44.79

    43%

    92%

    -31%

    Lumentum Holdings Inc.

    LITE Electrical Products

    $54.45

    $76.44

    40%

    76%

    -49%

    Tenet Healthcare Corp.

    THC Hospital/ Nursing Management

    $44.22

    $62.00

    40%

    80%

    -46%

    Repligen Corp.

    RGEN Pharmaceuticals

    $166.88

    $233.10

    40%

    82%

    -37%

    STAAR Surgical Co.

    STAA Medical Specialties

    $59.57

    $82.67

    39%

    82%

    -35%

    Carlisle Cos. Inc.

    CSL Building Products

    $251.99

    $348.33

    38%

    75%

    2%

    Source: FactSet

    Wall Street’s favorite small-cap names

    Among companies in the S&P Small Cap 600 Index, 91 are rated “buy” or the equivalent by at least 75% of analysts. Here are the 20 with the highest 12-month upside potential indicated by consensus price targets:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    UniQure NV

    QURE Biotechnology

    $22.99

    $51.29

    123%

    95%

    11%

    Cara Therapeutics Inc.

    CARA Biotechnology

    $11.34

    $23.63

    108%

    88%

    -7%

    Vir Biotechnology Inc.

    VIR Biotechnology

    $25.50

    $53.00

    108%

    75%

    -39%

    Dynavax Technologies Corp.

    DVAX Biotechnology

    $11.22

    $23.20

    107%

    100%

    -20%

    Thryv Holdings Inc.

    THRY Advertising/ Marketing Services

    $18.40

    $36.75

    100%

    100%

    -55%

    Artivion Inc.

    AORT Medical Specialties

    $12.93

    $23.13

    79%

    83%

    -36%

    Cytokinetics Inc.

    CYTK Pharmaceuticals

    $38.33

    $67.43

    76%

    100%

    -16%

    Harsco Corp.

    HSC Environmental Services

    $7.17

    $12.30

    72%

    80%

    -57%

    Ligand Pharmaceuticals Inc.

    LGND Pharmaceuticals

    $64.80

    $110.83

    71%

    100%

    -35%

    Corcept Therapeutics Inc.

    CORT Pharmaceuticals

    $20.84

    $34.20

    64%

    80%

    5%

    Payoneer Global Inc.

    PAYO Misc. Commercial Services

    $5.70

    $9.33

    64%

    100%

    -22%

    Xencor Inc.

    XNCR Biotechnology

    $28.69

    $46.71

    63%

    93%

    -28%

    Pacira Biosciences Inc.

    PCRX Pharmaceuticals

    $45.50

    $72.90

    60%

    80%

    -24%

    BioLife Solutions Inc.

    BLFS Chemicals

    $19.72

    $31.38

    59%

    89%

    -47%

    Customers Bancorp Inc.

    CUBI Regional Banks

    $30.00

    $47.63

    59%

    75%

    -54%

    ModivCare Inc.

    MODV Other Transportation

    $92.22

    $145.83

    58%

    100%

    -38%

    Stride Inc.

    LRN Consumer Services

    $32.56

    $51.25

    57%

    100%

    -2%

    Ranger Oil Corp. Class A

    ROCC Oil and Gas Production

    $36.98

    $58.00

    57%

    100%

    37%

    Outfront Media Inc.

    OUT Real Estate Investment Trusts

    $17.59

    $27.00

    53%

    83%

    -34%

    Walker & Dunlop Inc.

    WD Finance/ Rental/ Leasing

    $82.22

    $125.20

    52%

    100%

    -46%

    Source: FactSet

    The Dow

    Here are all 30 components of the Dow Jones Industrial Average ranked by how much analysts expect their prices to rise over the next year:

    Company

    Ticker

    Industry

    Closing price – Dec. 12

    Consensus price target

    Implied 12-month upside potential

    Share “buy” ratings

    Price change – 2022 through Dec. 12

    Salesforce Inc.

    CRM Software

    $133.11

    $195.59

    47%

    80%

    -48%

    Walt Disney Co.

    DIS Movies/ Entertainment

    $94.66

    $119.60

    26%

    82%

    -39%

    Apple Inc.

    AAPL Telecommunications Equipment

    $144.49

    $173.70

    20%

    74%

    -19%

    Verizon Communications Inc.

    VZ Telecommunications

    $37.95

    $44.60

    18%

    21%

    -27%

    Visa Inc. Class A

    V Misc.s Commercial Services

    $214.59

    $249.33

    16%

    86%

    -1%

    Microsoft Corp.

    MSFT Software

    $252.51

    $293.06

    16%

    91%

    -25%

    Chevron Corp.

    CVX Integrated Oil

    $169.75

    $191.20

    13%

    54%

    45%

    Cisco Systems Inc.

    CSCO Information Technology Services

    $49.30

    $53.76

    9%

    44%

    -22%

    UnitedHealth Group Inc.

    UNH Managed Health Care

    $545.86

    $593.30

    9%

    85%

    9%

    Goldman Sachs Group Inc.

    GS Investment Banks/ Brokers

    $363.18

    $392.63

    8%

    59%

    -5%

    Walmart Inc.

    WMT Specialty Stores

    $148.02

    $159.86

    8%

    72%

    2%

    JPMorgan Chase & Co.

    JPM Banks

    $134.21

    $143.84

    7%

    59%

    -15%

    Home Depot Inc.

    HD Home Improvement Chains

    $327.98

    $346.61

    6%

    61%

    -21%

    American Express Co.

    AXP Finance/ Rental/ Leasing

    $157.31

    $164.57

    5%

    43%

    -4%

    McDonald’s Corp.

    MCD Restaurants

    $276.62

    $288.67

    4%

    72%

    3%

    Johnson & Johnson

    JNJ Pharmaceuticals

    $177.84

    $185.35

    4%

    36%

    4%

    Coca-Cola Co.

    KO Beverages: Non-Alcoholic

    $63.97

    $66.62

    4%

    73%

    8%

    Boeing Co.

    BA Aerospace and Defense

    $186.27

    $192.69

    3%

    77%

    -7%

    Intel Corp.

    INTC Semiconductors

    $28.69

    $29.54

    3%

    13%

    -44%

    Walgreens Boots Alliance Inc.

    WBA Drugstore Chains

    $41.06

    $42.24

    3%

    17%

    -21%

    Merck & Co. Inc.

    MRK Pharmaceuticals

    $108.97

    $110.62

    2%

    65%

    42%

    Caterpillar Inc.

    CAT Trucks/ Construction/ Farm Machinery

    $233.06

    $236.23

    1%

    41%

    13%

    Honeywell International Inc.

    HON Aerospace and Defense

    $214.50

    $217.35

    1%

    54%

    3%

    Nike Inc. Class B

    NKE Apparel/ Footwear

    $112.07

    $112.58

    0%

    64%

    -33%

    3M Co.

    MMM Industrial Conglomerates

    $126.85

    $127.30

    0%

    5%

    -29%

    Procter & Gamble Co.

    PG Household/ Personal Care

    $152.47

    $150.22

    -1%

    59%

    -7%

    Travelers Companies Inc.

    TRV Multi-Line Insurance

    $187.11

    $184.24

    -2%

    18%

    20%

    Amgen Inc.

    AMGN Biotechnology

    $276.78

    $264.79

    -4%

    24%

    23%

    Dow Inc.

    DOW Chemicals

    $51.11

    $48.73

    -5%

    15%

    -10%

    International Business Machines Corp.

    IBM Information Technology Services

    $149.21

    $140.29

    -6%

    33%

    12%

    Source: FactSet

    Don’t miss: 10 Dividend Aristocrat stocks expected by analysts to rise up to 54% in 2023

    Source link