The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.

(For this 2022 year, SOM will track the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

High-Growth Investments

Continental Resources, Inc.

Continental Resources, Inc. (CLR) was a new addition to the High-Growth Investments Buy List last month. If you recall, Continental Resources is one of the top 10 oil producers in the U.S. It’s headquartered in Oklahoma City, but its main operations are in the Bakken oil field in North Dakota and Montana, where it is the largest leaseholder and biggest producer.

In 2021, Continental Resources produced 329.6 million barrels of oil equivalent per day (MBoepd), which included 160.6 million barrels of oil per day and 1,014 million cubic feet of natural gas per day (MMcfpd). Continental Resources expects to achieve similar production in 2022, with crude oil production forecast to be between 195 million and 205 million barrels per day and natural gas production expected to be between 1,040 and 1,140 MMcfpd.

Thanks to the strong production outlook, analysts have increased second-quarter earnings estimates by 34% in the past three months. For the second quarter, earnings are now forecast to surge 233% year-over-year to $3.03 per share, up from $0.91 per share in the second quarter of 2021. Second-quarter revenue is expected to soar 129.5% year-over-year to $2.56 billion. CLR is a Moderately Aggressive buy below $73.

SOM Technicals:

6-25-22: Closed at 65.22. Trade pressures are down but rising. Volumes are bearish. The next target  down is 60.76.

7-2-22: Closed at 65.66. Trade pressures are down. Volumes are neutral. the next target down is 60.76.

7-9-22: Closed at 65.21. Trade pressures are up. Volumes are now neutral. The next target up is 67.67.

 

ConocoPhillips

ConocoPhillips (COP), one of our oil and natural gas plays, is taking steps to help boost natural gas production globally. The company recently revealed its plans to take a 3.1% stake in Qatar Energy’s North Field East project. TotalEnergies SE and EniSpA have also purchased 3.1% stakes in the project, with the expansion expected to boost Qatar Energy’s liquified natural gas capacity to 110 million tons each year, compared to 77 million tons previously.

ConocoPhillips is also prospering from the record oil production in the Permian Basin. The Energy Information Administration expects oil production to exceed 5.3 million barrels per day in July. At the end of 2021, ConocoPhillips completed an acquisition of 225,000 net acres in the Permian Basin, which brought its total acreage in the basin to about 1.5 million. So, you can bet that ConocoPhillips is benefiting from increased production in the region.

The analyst community anticipates the boost in production will add handsomely to the company’s top and bottom lines this year. Second-quarter earnings are now forecast to nearly triple year-over-year to $3.80 per share, up from $1.27 per share in the same quarter a year ago. Revenue is expected to jump 86% year-over-year to $18.99 billion. Analysts have also upped earnings estimates by 33.3% in the past three months, which bodes well for a quarterly earnings surprise. COP is a Conservative buy below $100.

SOM Technicals:

5-1-22: Closed at 95.52. Trade pressures are up. Volumes are bullish. The next target up is 100.57.

5-6-22: Closed at 107.69. Trade pressures are up. Volumes are bullish. The next target up is 108.75.

5-14-22: Closed at 103.78. Trade pressures are up. Volumes are neutral. The next target up is 104.

5-21-22: Closed at 105.02. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 100.93.

5-29-22: Closed at 114.85. Trade pressures are up. Volumes are bullish. The next target up is 121.40.

6-05-22: Closed at 118.12 . Trade pressures are up but turning down. Volumes are bullish. The next target up is 122.59.

6-11-22: Closed at 116.40. Trade pressures are down. Volumes are bearish. The next target down is 112.16.

6-18-22: Closed at 93.74. Trade pressures are down. Volumes are bearish. The next target down is 85.88.

6-25-22: Closed at 90.94. Trade pressures are down. Volumes are bearish. The next target down is 86.62.

7-2-22: Closed at 90.98. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 101.14.

7-9-22: Closed at 86.48. Trade pressures are down but rising. Volumes are bearish. The next target up is 95.02.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) is one of the rare stocks that has claimed a spot on not only the High-Growth Investments Buy List but also the Elite Dividend Payers Buy List. The fact is the leading energy company earns a coveted AAA-rating: It earns an A-rating from Portfolio Grader and Dividend Grader, as well as an A Quantitative Grade. In other words, DVN is backed by superior fundamentals, has a history of rewarding its shareholders and benefits from persistent institutional buying pressure.

In terms of fundamentals, Devon Energy is expected to achieve second-quarter earnings of $2.29 per share and revenue of $4.65 billion. That represents 281.7% year-over-year earnings growth and 97.8% year-over-year revenue growth. The analyst community has also upped earnings estimates by 27.2% in the past three months, so a quarterly earnings surprise is likely.

Devon Energy has also paid a dividend for an impressive 117-straight quarters – and that dividend has increased by a whopping 273.5% in the past year alone. The company will pay a second-quarter dividend of $1.27 per share on June 30. All shareholders of record on June 13 will receive the dividend. The stock has an 9.3% dividend yield. DVN is a Conservative buy below $59.

SOM Technicals:

5-1-22: Closed at 58.17. Trade pressures are up. Volumes are bearish. The next target down is 55.44.

5-6-22: Closed at 69.69. Trade pressures are up. Volumes are bullish. The next target up is 70.97.

5-14-22: Closed at 68.60. Trade pressures are up. Volumes are bullish. The next target up is 69.75.

5-21-22: Closed at 68.92. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 73.18.

5-29-22: Closed at 75.85. Trade pressures are up. Volumes are Bullish. The next target up is 79.23.

6-05-22: Closed at 77.02. Trade pressures are up. But rolling over. Volumes are bullish. The next target up is 88.63.

6-11-22: Closed at 73.75. Trade pressures are down. Volumes are neutral. The next target down is 69.38.

6-18-22: Closed at 58.02. Trade pressures are down. Volumes are bearish. The next target down is 51.12.

6-25-22: Closed at 53.77. Trade pressures are down. Volumes are bearish. The next target down is 51.68.

7-2-22: Closed at 56.11. Trade pressure are in the neutral zone. Volumes are neutral. The next target down is the 200 day MA at 52.38.

7-9-22: Closed at 54.47. Trade pressures are up into the neutral one. Volumes are neutral. The next target up is 59.82.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is another American energy company that’s benefiting from the record production happening in the Permian Basin. The company has about 135,000 net acres in the region, and it achieved production of 20,000 barrels of oil equivalent per day (boe/d) in the first quarter. But the company doesn’t have all its eggs in one basket, as Marathon Oil also has operations in the lucrative Eagle Ford, Bakken Shale and STACK/SCOOP regions.

Overall production in the first quarter totaled 281,000 boe/d, with oil production of 158,000 barrels per day. Marathon Oil also achieved its guidance to bring between 50 and 60 wells online, with 57 coming online during the quarter. Given its production strength and better-than-expected first-quarter earnings and revenue results, the analyst community increased second-quarter earnings estimates by nearly 52% in the past three months.

Second-quarter earnings are now expected to surge 472.7% year-over-year to $1.26 per share, up from $0.22 per share in the same quarter a year ago. Second-quarter revenue is forecast to increase 81.2% year-over-year to $2.07 billion. Marathon Oil will release second-quarter results on August 3. MRO is a Moderately Aggressive buy below $24.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up into the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

5-29-22: Closed at 31.24. Trade pressures are up. Volumes are bullish. The next target up is 34.09.

6-05-22: Closed at 31.60. Trade pressures are up but rolling over. Volumes are bullish. A break below 30.58 would signal lower.

6-11-22: Closed at 30.10. Trade pressures are down. Volumes are bearish. The next target down is 27.90.

6-18-22: Closed at 24.15. Trade pressures are down. Volumes are bearish. The next target down is 20.39.

6-25-22: Closed at 22.05. Trade pressures are down. Volumes are bearish. The next target down is 20.62.

7-2-22: Closed at 22.56. Trade pressures are in the neutral zone. Volumes are neutral. The next target down is 20.90.

7-9-22: Closed at 21.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 24.55.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) focuses primarily on natural gas and natural gas liquids (NGLS), with operations in the Anadarko Basin, the Bakken Shale, the Barnett Shale, Eagle Ford Shale, the Permian Basin and Three Forks. And the company aims to boost its natural gas production in the Permian Basin with its recently announced acquisition target.

Targa Resources plans to purchase Lucid Energy Group in a $3.55 billion cash deal. Lucid Energy is a natural gas company focused on gathering, treating and processing natural gas from the Permian Basin, with 1,050 miles of pipelines and the ability to process 1.4 billion cubic feet of natural gas per day. Lucid Energy also has 600,000 dedicated acres, which support more than 20 years of drilling inventory.

The acquisition is expected to be complete in the third quarter and immediately accretive to distributable cash flow per share. Company management noted that the acquisition will also support Targa Resources commitment to rewarding its shareholders with increased dividend payments, as well as stock buybacks.

Prior to the acquisition closing, Targa Resources still has superior fundamentals: The consensus estimate calls for second-quarter earnings of $0.99 per share on $5.31 billion in revenue, which represents 560% year-over-year earnings growth and 55.4% year-over-year revenue growth. Analysts have also increased earnings estimates over the past three months. TRGP is a Conservative buy below $63.

SOM Technicals:

5-29-22: Closed at 72.82. Trade pressures are up. Volumes are bullish. The next target up is 74.70.

6-05-22: Closed at 77.35. Trade pressures are up. Volumes are bullish. The next target up is the 81.50 prior high.

6-11-22: Closed at 72.43. Trade pressures are down. Volumes are bearish. The next target down is 70.00.

6-18-22: Closed at 60.65. Trade pressures are down. Volumes are bearish. The  next target down is 59.04.

6-25-22: Closed at 59.14. Trade pressures are down but rising. Volumes are bearish. The next target down is 57.39.

7-2-22: Closed at 61.00. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 65.72.

7-9-22: Closed at 59.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 64.14.