Global banks are pushing ahead with growth plans in Saudi Arabia four months after a crackdown on corruption threatened to derail ambitious plans to transform the economy.
Lenders including UBS Group AG and Goldman Sachs Group Inc. have been hiring and Citigroup Inc. just won its first local advisory mandate since returning to Saudi Arabia after a 13-year absence. Deutsche Bank AG said it’s expanding in the kingdom as the outlook for bond and stock sales improves.
While the speed of the purge and the lack of transparency unsettled markets when it started late last year, the banks appear unfazed after several of the princes and officials who were arrested have since been released. That’s good news for Crown Prince Mohammed bin Salman, who’s trying to solidify his grip on power without alienating the international investors he needs to transform the economy into a financial powerhouse and away from oil.
“Over the medium-term, foreign investors will likely take comfort from the fact that no foreign investor was targeted by the anti-corruption drive,” said Ehsan Khoman, head of research for the Middle East and North Africa at Mitsubishi UFJ Financial Group Inc. In the long run, “we view the anti-corruption drive as a net positive for investors.”
Top Oil Stocks To Buy Right Now: Halliburton Company(HAL)
Advisors' Opinion:- [By Ethan Ryder]
Get a free copy of the Zacks research report on Halliburton (HAL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Taylor Muckerman]
In this week's episode of Industry Focus: Energy, host Sarah Priestley and analyst Taylor Muckerman go through a grab bag of questions from listeners. They explain the issues surrounding Permian Basin production, why investors might want to check out midstream company Enterprise Products Partners (NYSE:EPD), a few important things to know about oil services companies Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB), and what might become of the beleaguered offshore industry.
- [By Tyler Crowe]
If you want to take the pulse of the North American oil and gas market, one of the best places to start is Halliburton's (NYSE:HAL) quarterly conference call. As the largest oil services company in North America and with clients of all sizes across every shale basin, management has an intimate knowledge of what is going on in the oil patch at any given moment. Listening to, or reading a transcript of, Halliburton's quarterly conference calls can give investors insights into the market that can help steer investment decisions.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on Halliburton (HAL)
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- [By Stephan Byrd]
Halcyon (HAL) is a PoW/PoS coin that uses the
X15 hashing algorithm. Its genesis date was July 16th, 2014. Halcyon’s total supply is 6,668,787 coins. Halcyon’s official website is halcyon.top. Halcyon’s official Twitter account is @halcyondev.
Top Oil Stocks To Buy Right Now: Transocean Inc.(RIG)
Advisors' Opinion:- [By Ethan Ryder]
An issue of Transocean LTD (NYSE:RIG) debt fell 2.8% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 6.8% coupon and will mature on March 15, 2038. The bonds in the issue are now trading at $82.13 and were trading at $84.00 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its stock price.
- [By Shane Hupp]
Transocean LTD (NYSE:RIG)’s share price shot up 1.5% on Thursday . The stock traded as high as $13.60 and last traded at $13.39. 771,349 shares were traded during trading, a decline of 94% from the average session volume of 13,165,396 shares. The stock had previously closed at $13.19.
- [By Max Byerly]
Shares of Transocean LTD (NYSE:RIG) gapped down prior to trading on Thursday . The stock had previously closed at $13.41, but opened at $13.13. Transocean shares last traded at $12.81, with a volume of 16922465 shares trading hands.
- [By Jason Hall, Tyler Crowe, and John Bromels]
According to three Motley Fool contributors, there are still ample opportunities to profit in the oil and gas segment as some left-behind subsectors start to catch up to the higher price trend. Three in particular that are well-positioned going forward are Transocean LTD (NYSE:RIG), National-Oilwell Varco, Inc. (NYSE:NOV), and Devon Energy Corp (NYSE:DVN).
Top Oil Stocks To Buy Right Now: Apache Corporation(APA)
Advisors' Opinion:- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close was Apache Corp. (NYSE: APA) which traded down about 4% at $42.73. The stock's 52-week range is $33.60 to $51.21. Volume was over 6 million compared to the daily average volume of 4.5 million.
- [By Max Byerly]
US Bancorp DE decreased its stake in shares of Apache Co. (NYSE:APA) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,332 shares of the energy company’s stock after selling 8,948 shares during the period. US Bancorp DE’s holdings in Apache were worth $5,592,000 as of its most recent SEC filing.
- [By Matthew DiLallo]
Both Apache (NYSE:APA) and Noble Energy (NYSE:NBL) have signed on to the private-equity-backed EPIC Pipeline, which will move 590,000 barrels of crude per day to the Texas coast when it starts operations in the second half of next year.
- [By Stephan Byrd]
Apache (NYSE:APA) was upgraded by analysts at ValuEngine from a sell rating to a hold rating.
Get Apache Co alerts:Big Lots (NYSE:BIG) was upgraded by analysts at ValuEngine from a sell rating to a hold rating.
- [By Max Byerly]
Ramsay Stattman Vela & Price Inc. purchased a new stake in shares of Apache Co. (NYSE:APA) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,704 shares of the energy company’s stock, valued at approximately $220,000.
- [By Matthew DiLallo]
While pipeline capacity constraints have hurt producers focused on the Permian, it has been a boon for midstream companies in the region, which have been able to quickly sign up shippers for proposed expansion projects. Private equity-backed EPIC Midstream was able to get major Permian producers Apache (NYSE:APA) and Noble Energy (NYSE:NBL) to sign up for a combined 175,000 barrels per day (BPD) on the company's proposed EPIC Crude Oil Pipeline. EPIC currently plans to build a 440,000 BPD pipeline to ship crude out of the Permian. However, it could expand the line up to 675,00 BPD if there's enough shipper demand. One of the reasons Noble was quick to sign on is that this line "provides long-term flow assurance for our rapidly growing Delaware Basin oil volumes," according to the company. Apache, meanwhile, stated that this line "enhances our long-term operational flexibility and market optionality." EPIC hopes to start construction on the pipeline later this year, which would put it in service by the second half of 2019. It's one of the first projects by the private equity-backed start-up but likely won't be its last given the infrastructure needs in the region.
Top Oil Stocks To Buy Right Now: Whiting Petroleum Corporation(WLL)
Advisors' Opinion:- [By Joseph Griffin]
Whiting Petroleum Co. (NYSE:WLL) – Equities research analysts at Piper Jaffray Companies lifted their Q2 2018 earnings estimates for Whiting Petroleum in a research note issued on Sunday, May 20th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will earn $0.85 per share for the quarter, up from their previous forecast of $0.33. Piper Jaffray Companies currently has a “Hold” rating and a $46.00 target price on the stock. Piper Jaffray Companies also issued estimates for Whiting Petroleum’s Q3 2018 earnings at $0.97 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.70 EPS, Q2 2019 earnings at $1.48 EPS, Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.59 EPS and FY2019 earnings at $6.24 EPS.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Whiting Petroleum (WLL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Matthew DiLallo]
Whiting Petroleum (NYSE:WLL) bounded upward more than 55% for the quarter, fueled by rising crude prices and its strong first-quarter results. After struggling to scrape by on lower oil prices, Whiting's cash flow has surged this year, providing it enough money to fund its drilling program with more than $100 million to spare during the first quarter.
- [By Stephan Byrd]
ClariVest Asset Management LLC acquired a new stake in shares of Whiting Petroleum Corp (NYSE:WLL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,424 shares of the oil and gas exploration company’s stock, valued at approximately $2,816,000.
- [By Jon C. Ogg]
Whiting Petroleum Corp. (NYSE: WLL) was reiterated as Overweight and the target price was raised to $56 from $45 (versus a $50.78 close) at KeyBanc Capital Markets.
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