igh-Growth Investments

Cenovus Energy, Inc.

Cenovus Energy, Inc. (CVE) claims a spot on the Top Stocks list for the second-straight month, as the Canadian oil sands company continues to profit from elevated energy prices. As one of the largest oil and natural gas producers in Canada, Cenovus Energy has total proved reserves of 6.1 billion barrels of oil equivalent. In the second quarter, Cenovus Energy achieved upstream production of 762,000 barrels of oil equivalent per day (boepd).

Thanks to the strong production numbers, the company also reported second-quarter earnings of $1.19 per share on revenue of $19.2 billion, which crushed estimates for earnings of $0.82 per share and revenue of $11.56 billion. And Cenovus Energy now anticipates full-year production between 780,000 and 810,000 boped.

The analyst community also remains very positive on Cenovus Energy for the rest of this year. Third- and fourth-quarter earnings estimates have been upped by 21.3% and 15.9%, respectively, in the past three months. Full-year earnings estimates have also been revised higher, and analysts now forecast annual earnings growth of 1,561.9%. CVE is a Conservative buy below $22.

SOM Technicals:

7-30-22: Closed at 19.08. Trade pressures are up. Volumes are bullish. The next target up is 22.29.

8-6-22: Closed at 16.43. Trade pressures are down. Volumes are bearish. The next target down is 15.28, the prior low.

8-12-22: Closed at 18.68. Trade pressures are up. Volumes are bullish. The next target up is 18.75.

8-21-22: Closed at 18.19. Trade pressures are up but turning down. Volumes are now neutral. 17.76 would start a new leg down.

8-27-22: Closed at 19.30. Trade pressures are up but turned down. The next target down is 18.79.

9-2-22: Closed at 18.93. Trade pressures are up. Volumes are now neutral. The next target up is 22.29.

9/9/22: Closed at 17.73. Trade pressures are down. Volumes are now neutral. The next target down is 16.88, the 200 day MA.

9/16/22: Closed at 18.64. Trade pressures are down. Volumes are bullish. The next target down is 15.13. the next target up is the new long entry at 18.75.

9-23-22: Closed at 15.74. Trade pressures are down. Volumes are bearish. The next target down is 13.99.

 

CF Industries Holdings, Inc.

CF Industries Holdings, Inc. (CF) produces approximately 10 million tons of ammonia each year through its nine manufacturing facilities in the U.S., Canada and the U.K. As you may know, ammonia is a versatile product that can be used as a fertilizer or developed into other nitrogen fertilizers like urea, urea ammonium nitrate (UAN) and ammonium nitrate

The company has benefited from an increased demand for fertilizers, as supplies from Russia and Ukraine have been hindered by the war between these two countries. So, during the second quarter, CF Industries reported that earnings soared 389.5% year-over-year to $1.17 billion, or $5.58 per share, while revenue jumped 113.2% year-over-year to $3.39 billion.

Looking forward to the third quarter, earnings are forecast to surge to $3.40 per share, compared to an earnings loss of $0.86 per share in the same quarter a year ago. Third-quarter revenue is anticipated to come in at $2.34 billion. CF is a Conservative buy below $130.

SOM Technicals:

8-27-22: Closed at118.35. Trade pressures are up. Volumes are bullish. The next target up is 122.83 with support at 114.80.

9-2-22: Closed at 106.86. Trade pressures are up into the neutral zone. Volumes are bullish. The next target down is 98.40.

9-9-22: Closed at 102.46. Trade pressures are down. Volumes are now neutral. The next target down is 98.40.

9-16-22: Closed at 98.59. Trade pressures are down. Volumes are now bullish. The next target down is 85.29.

9-23-22: Closed at 93.79. Trade pressures are down. Volumes are are now neutral. The next target down is 85.29.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) operates in some of the most lucrative crude oil and natural gas producing basins in the U.S., including the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin. So, it’s not too surprising that the company achieved production of 616,000 bpd in the second quarter. That represented a 7% year-over-year increase.

Devon Energy also reported second-quarter adjusted earnings surged 331.7% year-over-year to $2.59 per share, up from $0.60 per share in the same quarter a year ago. Analysts expected adjusted earnings of $2.38 per share, so the company exceeded estimates by 8.8%.

I should add that Devon Energy is one of the few stocks that earn a spot on both Buy Lists, as it also has a history of rewarding its shareholders. It’s paid a dividend for 118-straight quarters. Devon Energy plans to pay a second-quarter variable dividend of $1.55 per share and a fixed dividend of $0.02 per share on September 30 to all shareholders of record on September 12. The stock has an 8.8% dividend yield. DVN is a Moderately Aggressive buy below $82.

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.

7-30-22: Closed at 62.85. Trade pressures are up. Volumes are bullish. The next target up is 70.78.

8-6-22: Closed at 56.66. Trade pressures are down but rising. Volumes are bullish. The next target up is 59.82.

8-12-22: Closed at 65.56. Trade pressures are up. Volumes are bullish. The next target up is 70.78.

8-21-22: Closed at 68.51. Trade pressures are up. Volumes are now bearish. The next target down is 64.92.

8-27-22: Closed at 72.77. Trade pressures are up. Volumes are bullish. The next target up is 75.96.

9-2-22: Closed at 70.34. Trade pressures are down but rising. Volumes are now neutral. The next target down is 67.63.

9-9-22: Closed at 68.91. Trade pressures are down but rising. Volumes are now neutral. The next target up is71.72.

9-16-22: Closed at 66.82. Trade pressures are down. Volumes are bearish. The next target down is 60.00.

9-23-22: Closed at 57.69. Trade pressures are down. Volumes are now neutral. The next target down is 56.40.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is an independent oil and natural gas exploration and production company, with operations in the Bakken Shale, Eagle Ford, the Permian Basin and STACK/SCOOP. In the second quarter, the company achieved total production of 283,000 boepd, and oil production accounted for 157,000 barrels per day.

Strong production levels led to equally strong financial results: Second-quarter revenue soared 101.5% year-over-year to $2.3 billion, while adjusted earnings per share surged 500% year-over-year to $1.32. The consensus estimate called for adjusted earnings of $1.26 per share on $2.07 billion in revenue.

Marathon Oil has exceeded analysts’ earnings estimates for four-straight quarters – and it’s likely gearing up for a fifth quarterly earnings surprise. Analysts have increased third-quarter earnings estimates over the past three months and now expect 235.9% year-over-year growth. As you know, positive analyst revisions typically precede future earnings surprises. MRO is a Moderately Aggressive buy below $30.

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.

7-30-22: Closed at 24.80. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-6-22: Closed at 21.77. Trade pressures are down. Volumes are bearish. The next target down is a retest of the low at 19.42.

8-12-22: Closed at 24.06. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-21-22: Closed at 24.46. Trade pressures are up. Volumes are bullish. The next target up is 28.90. 

8-27-22: Closed at 26.16. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

9-2-22 Closed at 25.71. Trade pressures are down but rising. Volumes are now neutral. The next target up is 28.90.

9-9-22: Closed at 25.61. Trade pressures are down but rising. Volumes are now neutral. The next target up is 27.55.

9-16-22: Closed at 23.10. Trade pressures are down. Volumes are now bullish. The next target up is 27.92.

9-23-22: Closed at 21.90. Trade pressures are down. Volumes are bearish. The next target down is 21.01.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) is a leading energy exploration and petrochemical manufacturing company with more than 100 years of experience. The company has energy and chemical assets in Africa, Latin America, the Middle East and the U.S. Occidental Petroleum boasts that it is one of the biggest oil and natural gas producers in the U.S., as well as a top-tier producer of chemicals here in the U.S. and around the world.

During the second quarter, the company produced 1.15 million barrels of oil equivalent per day (Mboepd). Second-quarter adjusted earnings soared 887.5% year-over-year to $3.16 per share, while second-quarter sales increased 78.6% year-over-year to $10.74 billion. Occidental Petroleum beat analysts’ top- and bottom-line estimates, and in turn, analysts have upped third-quarter estimates.

For the third quarter, earnings are now forecast to soar 228.7% year-over-year to $2.86 per share, up from $0.87 per share in the same quarter a year ago. Third-quarter revenue is expected to rise 53.5% year-over-year to $10.06 billion. OXY is a Moderately Aggressive buy below $85.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.