Category: Public

Navellier Top 5 Stocks for April

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Cadence Design Systems, Inc.

Cadence Design Systems, Inc. (CDNS) continues to earn a spot in the Top Stocks list for the second month in a row, as it remains backed by positive earnings growth and persistent institutional buying pressure. The company offers electronic design automation (EDA) software and hardware, which play an integral role in the electronics design chain, as well as provides software to verify chip designs before they’re set in silicon.

Cadence Design Systems has posted a positive earnings surprise in each of the last four quarters, and it appears to be gearing up for another surprise in April. Over the past two months, analysts have increased first-quarter earnings estimates by 13.6%. Earnings are now forecast to rise 6.8% year-over-year to $1.25 per share, and revenue is expected to increase 11.9% year-over-year to $1.01 billion. CDNS is a Conservative buy below $231.

SOM Technicals:

2-24-23: Closed at 193.74. Trade pressures are down into the neutral zone. Volumes are now neutral. the next target down is 188.91.

3-4-23: Closed at 196.50. Trade pressures are up. Volumes are now bullish. The next target up is 201.39.

3-11-23: Closed at 195.71. Trade pressures are down. Volumes are bullish. The next target down is the 188.91 short entry.

3-17-23: Closed at 206.88. Trade pressures are up. Volumes are bullish. The next target up is the 209.50 prior high.

3-24-23: Closed at 204.48. Trade pressures are down. Volumes are  bullish. The next target down is 195.45.

3-31-23: Closed at 210.09. Trade pressures are up. Volumes are bullish. The next target up is 211.45.

4-14-23: Closed at 214.55. Trade pressures are up but declining. Volumes are bullish. At resistance. The next target down is 203.62 with a stop at 217.67.

4-22-23: Closed at 213.00. Trade pressures are down. Volumes are bullish. The next target down is 203.62.

 

Genuine Parts Company

Genuine Parts Company (GPC) was our new addition to the High-Growth Investments Buy List in March. If you recall, the company operates one of the biggest automotive aftermarket networks in the world, with two primary businesses: Automotive Parts Group and Industrial Parts Group. Genuine Parts’ popular brand here in the U.S. is NAPA, as it sells more than 650,000 parts under the brand name in North America.

After beating analysts’ fourth-quarter earnings estimates, the analyst community has increased first-quarter estimates by 6.3% in the past two months. First-quarter earnings are now forecast to grow 9.1% year-over-year to $2.03 per share, while sales are expected to rise 7.2% year-over-year to $5.68 billion. GPC is a Conservative buy below $179.

SOM Technicals:

3/31/23: Closed at 167.31. Trade pressures are up. Volumes are bullish. The next target up is 174.35.

4-14-23: Closed at 165.07. Trade pressures are down. Volumes are bearish. The next target down is 152.00.

4-22-23: Closed at 166.52. Trade pressures are up. Volumes are now bearish. The next target up is 174.35.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) continues to benefit from elevated food prices and folks’ insatiable demand for French fries. The company is the second-largest supplier of frozen potatoes in the world – and its most popular product is frozen fries. About 80 million portions of fries are sold each day globally.

Lamb Weston will announce results for its third quarter in fiscal year 2023 on Thursday, April 6, before the stock market opens. The current consensus estimate calls for earnings of $0.99 per share on sales of $1.16 billion, which represents 35.6% year-over-year earnings growth and 21.5% year-over-year sales growth. Analysts have upped earnings estimates by 32% in the past three months, so another quarterly earnings surprise is likely.

I should also add that Lamb Weston recently announced that it will pay a quarterly dividend of $0.28 per share on June 2. All shareholders of record on May 5 will receive the dividend. The stock has a 1.1% dividend yield. LW is a Conservative buy below $112.

SOM Technicals:

1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.

2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.

2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.

2-24-23: Closed at 99.98. Trade pressures are down. Volumes are now neutral. The next target down is 87.01.

3-4-23: Closed at 101.98. Trade pressures are up. Volumes are bullish. The next target up is a breakout above the prior high at 102.77.

3-11-23: Closed at 97.63. Trade pressures are down. Volumes are bearish. The next target down is the short entry at 97.30.

3-17-23: Closed at 97.62. Trade pressures are down but rising. Volumes are bearish. the next target down is 91.83.

3-24-23: Closed at 100.18. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 102.70.

3-31-23: Closed at 104.52. Trade pressures are up. Volumes are bullish. The next target up is 107.05.

4-14-23: Closed at 108.71. Trade pressures are up but turning down.  Volumes are bullish. The next target down is 104.23.

4-22-23: Closed at 110.35. Trade pressures are up. Volumes are bullish. The next target up is 112.88.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) is one of the biggest refiners in the U.S., as it operates 13 refineries capable of refining about 2.9 million barrels per day. In fact, during the fourth quarter, crude capacity utilization came in at about 94%, which lead to total fourth-quarter throughput of 2.9 million barrels per day.

Strong refining capacity and increased demand has added to the company’s top and bottom lines in recent quarters – and the analyst community is expecting equally robust results in the first quarter. First-quarter earnings are expected to soar 266.4% year-over-year to $5.46 per share, compared to $1.49 per share in the same quarter a year ago.

Analysts have also increased first-quarter earnings estimates by 62.5% in the past three months, which bodes well for a fifth-straight quarterly earnings surprise. The company is scheduled to release first-quarter results on May 2. MPC is a Conservative buy below $148.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.

2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.

2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.

2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36

2-24-23: Closed at 124.92. Trade pressures are up but declining. Volumes are now bullish. The next target down is 115.36.

3-4-23: Closed at 133.50. Trade pressures are up. Volumes are bullish. The next target up is 136.46, the prior high.

3-11-23: Closed at 129.81. Trade pressures are down but rising. Volumes are bearish. The next target up is the breakout above 136.46.

3-17-23: Closed at 123.68. Trade pressures are up into the neutral zone. Volumes are now bearish. The next target up is 125.78.

3-24-23: Closed at 124.70. Trade pressures are down. Volumes are bullish. The next target up is 130.75.

3-31-23: Closed at 134.83. Trade pressures are up. Volumes are bullish. The next target up is 136.46.

4-14-23: Closed at 130.78. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 125.02.

4-22-23: Closed at 123.53. Trade pressures are down. Volumes are bearish. The next target down is 116.40.

 

Novo Nordisk AS

Novo Nordisk AS (NVO) is a biotech company focused on developing treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. The Dutch company’s leading treatment is Ozempic, and its sales rose 45% in 2022.

Novo Nordisk recently revealed that Ozempic helped diabetes patients achieve greater weight loss, with patients losing between 15 and 20 pounds on higher doses of the treatment. Also important, the treatment resulted in lower hemoglobin A1C levels.

Looking forward to the first quarter in fiscal year 2023, increased sales of Ozempic and its other leading treatments are expected to add to the company’s top and bottom lines. First-quarter earnings are expected to increase 36.9% year-over-year to $1.15 per share, and revenue is forecast to rise 25.8% year-over-year to $7.24 billion. NVO is a Conservative buy below $170.

SOM Technicals: 

2-24-23: Closed at 141.60. Trade pressures are down. Volumes are now neutral. The next target down is 188.22.

3-4-23: Closed at 144.90. Trade pressures are up. Volumes are bullish. The next target up is 149.62.

3-11-23: Closed at 141.29. Trade pressures are down but rising. Volumes are bearish. The next target down  is 134.71.

3-17-23: Closed at 139.44. Trade pressures are down but rising. Volumes are neutral. The next target down is 134.74.

3-24-23: Closed at 152.76. Trade pressures are up. Volumes are bullish. The next target up is 159.89.

3-31-23: Closed at 159.14. Trade pressures are up. Volumes are bullish. The next target up is 177.85.

4-14-23: Closed at 168.60. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

4-22-23: Closed at 172.65. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 177.65.

Navelier Top 5 Stocks for March

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Cadence Design Systems, Inc.

Cadence Design Systems, Inc. (CDNS) offers electronic design automation (EDA) software and hardware, which play an integral role in the electronics design chain. Last year turned out to be a record year for the company: Full-year 2022 revenue came in at $3.56 billion, while earnings were $1.17 billion, or $4.27 per share, which represented 19.2% annual revenue growth and 27.8% annual earnings growth.

CDNS is a Conservative buy below $214.

SOM Technicals:

2-24-23: Closed at 193.74. Trade pressures are down into the neutral zone. Volumes are now neutral. the next target down is 188.91.

3-4-23: Closed at 196.50. Trade pressures are up. Volumes are now bullish. The next target up is 201.39.

3-11-23: Closed at 195.71. Trade pressures are down. Volumes are bullish. The next target down is the 188.91 short entry.

3-17-23: Closed at 206.88. Trade pressures are up. Volumes are bullish. The next target up is the 209.50 prior high.

3-24-23: Closed at 204.48. Trade pressures are down. Volumes are  bullish. The next target down is 195.45.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world. During its second quarter in fiscal year 2023, sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.

LW is a Conservative buy below $107.

SOM Technicals:

1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.

2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.

2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.

2-24-23: Closed at 99.98. Trade pressures are down. Volumes are now neutral. The next target down is 87.01.

3-4-23: Closed at 101.98. Trade pressures are up. Volumes are bullish. The next target up is a breakout above the prior high at 102.77.

3-11-23: Closed at 97.63. Trade pressures are down. Volumes are bearish. The next target down is the short entry at 97.30.

3-17-23: Closed at 97.62. Trade pressures are down but rising. Volumes are bearish. the next target down is 91.83.

3-24-23: Closed at 100.18. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 102.70.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. Fourth-quarter adjusted earnings soared 290.4% year-over-year to $3.1 billion, or $6.65 per share. Analysts expected adjusted earnings of $5.67 per share, so MPC posted a 17.3% earnings surprise.

MPC is a Conservative buy below $137.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.

2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.

2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.

2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36

2-24-23: Closed at 124.92. Trade pressures are up but declining. Volumes are now bullish. The next target down is 115.36.

3-4-23: Closed at 133.50. Trade pressures are up. Volumes are bullish. The next target up is 136.46, the prior high.

3-11-23: Closed at 129.81. Trade pressures are down but rising. Volumes are bearish. The next target up is the breakout above 136.46.

3-17-23: Closed at 123.68. Trade pressures are up into the neutral zone. Volumes are now bearish. The next target up is 125.78.

3-24-23: Closed at 124.70. Trade pressures are down. Volumes are bullish. The next target up is 130.75.

 

Novo Nordisk AS

Novo Nordisk AS (NVO) develops treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. For the fourth quarter, Novo Nordisk reported earnings jumped 26% year-over-year to DKK 6.02 per share. In U.S. dollar terms, the company achieved fourth-quarter earnings of $0.86 per share, which beat analysts’ estimates for $0.84 per share.

NVO is a Conservative buy below $152.

SOM Technicals: 

2-24-23: Closed at 141.60. Trade pressures are down. Volumes are now neutral. The next target down is 188.22.

3-4-23: Closed at 144.90. Trade pressures are up. Volumes are bullish. The next target up is 149.62.

3-11-23: Closed at 141.29. Trade pressures are down but rising. Volumes are bearish. The next target down  is 134.71.

3-17-23: Closed at 139.44. Trade pressures are down but rising. Volumes are neutral. The next target down is 134.74.

3-24-23: Closed at 152.76. Trade pressures are up. Volumes are bullish. The next target up is 159.89.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. For the fourth quarter, Quanta Services reported adjusted earnings of $1.68 per share and revenue of $4.42 billion. That topped analysts’ estimates for fourth-quarter earnings of $1.60 per share on $4.28 billion in revenue.

PWR is a Conservative buy below $176.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

Navellier TOP 5 Stocks for February

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) was a new addition to the High-Growth Investments Buy List in January. If you recall, the company is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world.

In early January, Lamb Weston released results for its second quarter in fiscal year 2023: Sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.

In the wake of the second-quarter earnings beat, analysts have increased third-quarter earnings estimates by 30.7% in the past month. As you know, positive analyst revisions typically precede future earnings surprises. LW is a Conservative buy below $105.

SOM Technicals:

1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.

2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.

2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges. The company has experienced strong demand for its products recently, which should be apparent in next week’s earnings report.

Marathon Petroleum will announce fourth-quarter earnings and sales results on Tuesday, January 31, before the stock market opens. Fourth-quarter earnings are forecast to surge 336.2% year-over-year to $5.67 per share, up from $1.30 per share in the same quarter a year ago. Sales are expected to rise 4.2% year-over-year to $37.09 billion. MPC is a Conservative buy below $146.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.

2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.

2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.

2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) provides energy exploration and petrochemical manufacturing services, with energy and chemical assets around the world. The company also has operations in strategic energy-producing regions in the U.S., including the Permian Basin, Rocky Mountains and the Gulf of Mexico.

Occidental Petroleum is scheduled to release fourth-quarter results on February 27. The analyst community expects earnings of $1.85 per share and revenue of $8.7 billion, which translates to 25% year-over-year earnings growth and 8.6% year-over-year revenue growth. Estimates have fluctuated a bit over the past three months, but Occidental Petroleum has a positive earnings surprise history. OXY is a Moderately Aggressive buy below $77.

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.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

1-29-23: Closed at 66.78. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-3-23: Closed at 61.24. Trade pressures are down. Volumes are bearish. The next target down is 59.65.

2-11-23: Closed at 65.63. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-18-23: Closed at 60.73. Trade pressures are down. Volumes are now neutral. The next target down is 55.38. a close above 61.74 would signal higher.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

Quanta Services is expected to post fourth-quarter results in late February. Fourth-quarter earnings are forecast to grow 3.9% year-over-year to $1.60 per share, up from $1.54 per share in the same quarter a year ago. Analysts have also increased earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. Fourth-quarter revenue is expected to rise 9% year-over-year to $4.28 billion. PWR is a Conservative buy below $165.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day.

Valero announced spectacular fourth-quarter results on Thursday. Fourth-quarter adjusted earnings surged 223.9% year-over-year to $3.2 billion, or $8.45 per share, compared to $988 million, or $2.41 per share, in the same quarter a year ago. Analysts expected adjusted earnings of $7.37 per share, so Valero posted a 14.7% earnings surprise.

For full-year 2022, Valero achieved adjusted earnings of $11.6 billion, or $29.16 per share. That was up from $1.2 billion, or $2.81 per share, in 2021, and represented 866.7% annual earnings growth. These results also exceeded expectations for adjusted earnings of $28.01 per share. VLO is a Conservative buy below $160.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up but declining. Volumes are bullish.. The next target up is 159.05.

1-29-23: Closed at 143.21. Trade pressures are up, but declining.  Volumes are now bearish. The next target up is 158.91.

2-3-23: Closed at 131.73. Trade pressures are down. Volumes are bearish. The next target down is 122.71.

2-11-23: Closed at 140.73. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 145.66.

2-18-23: Closed at 129.61. Trade pressures are down. Volumes are now neutral. The next target down is 122.71. A close above 132.61 would signal higher.

 

Navellier Top 5 Stocks for January 2023

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

https://navelliergrowth.investorplace.com/

 

High-Growth Investments

ConocoPhillips

ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world. In 2021, the company achieved total production of 1.57 million barrels of oil equivalent per day (MBoed), and it ended the year with proved reserves of 6.1 billion barrels of oil equivalent. With an extensive energy portfolio that spans 13 countries, ConocoPhillips also transports oil and natural gas around the world through its pipelines, as well as on tankers, trucks and rails.

The fourth-quarter is anticipated to cap off another stunning year for the company. Fourth-quarter earnings are forecast to grow 41.9% year-over-year to $3.22 per share. In turn, ConocoPhillips is expected to achieve full-year earnings of $14.38 per share, or 139.3% annual earnings growth.

I should add that ConocoPhillips has paid a dividend for a whopping 171-straight quarters, and it has consistently increased its dividend during this time. In fact, ConocoPhillips increased its dividend by 92% in the past five years. Most recently, the company paid a quarterly dividend of $0.51 per share, and it plans to pay a special dividend of $0.70 per share on December 23. The stock has a 2.1% dividend yield. COP is a Conservative buy below $127.

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.

11-19-22: Closed at 128.59. Trade pressures are down. Volumes are bearish. The next target down is the support at 123.08.

11-27-22: Closed at 126.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 115.95.

12-2-22: Closed at 122.18. Trade pressures are down. Volumes are bearish. The next target down is 115.95.

12-11-22: Closed at 109.95. Trade pressures are down. Volumes are bearish. The next target down is 93.41.

12-16-22: Closed at 110.44. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 105.69.

12-31-22: Closed at 118.00. Trade pressures are up. Volumes are bullish. The next target up is 124.41, a new long entry.

1-7-23: Closed at 118.23. Trade pressures are up. Volumes are now bullish. The next target up is 124.41.

1-14-23 Closed at 121.47. Trade pressures are up. Volumes are bullish. The next target up is 124.41.

1-20-23: Closed at 121.80. Trade pressures are down but rising. Volumes are bullish. The next target up is 124.41.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) operates in several of the top oil and natural gas-producing regions in the U.S., with operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP. The company anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Recently, Marathon Oil announced that it would acquire 130,000 net acres in Eagle Ford from Ensign Natural Resources. The area is anticipated to produce 67,000 boed in the fourth quarter. The deal is expected to close by the end of the year, with an effective date of October 1.

Strong overall production is expected to add to Marathon Oil’s top and bottom lines in the fourth quarter. The current consensus estimate calls for earnings of $0.99 per share on $1.88 billion in revenue, which represents 28.6% year-over-year earnings growth and 4.3% year-over-year revenue growth.

Like most of our energy companies, Marathon Oil also pays a quarterly dividend. The company recently paid a fourth-quarter dividend of $0.09, up 50% from the $0.06 per share that it paid in the same quarter last year. The stock has a 1.3% dividend yield. MRO is a Moderately Aggressive buy below $31.

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.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

11-19-22: Closed at 30.56. Trade pressures are down. Volumes are bullish. The next target down is 29.97.

11-27-22: Closed at 30.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is support at 29.07.

12-2-22: Closed at 29.74. Trade pressures are down. Volumes are bearish. The next target down is 26.51.

12-11-22: Closed at 26.17. Trade pressures are down. Volumes are bearish. The next target down is 24.88.

12-16-22: Closed at 27.33. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is the 200 day MA at 26.20.

12-31-22: Closed at 27.04. Trade pressures are down but rising. Volumes are now neutral. At the 200 day MA support, 26.38.

1-7-23: Closed at 26.60. Trade pressures are up. Volumes are neutral. The next target up is 28.28.

1-14-23: Closed at 27.08. Trade pressures are down into the neutral zone. volumes are bullish. The next target down is support at 26.59.

1-20-23: Closed at 27.80. Trade pressures are up. Volumes are bullish. The next target up is 28.28.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) was a new addition to the High-Growth Investments Buy List last month. You may recall that Marathon Petroleum operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges.

For the fourth quarter, earnings are forecast to surge 347.7% year-over-year to $5.82 per share, up from $1.30 per share in the same quarter a year ago. Analysts have also increased earnings estimates by a whopping 70.7% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter sales are expected to grow 6.1% year-over-year to $37.78 billion.

Marathon Petroleum also has a history of rewarding its shareholders, as it’s paid a dividend for 45-straight quarters. The company recently paid a fourth-quarter dividend of $0.75 per share, which represented a 29.3% increase from the $0.58 per share paid in the third quarter. The stock has a 2.6% dividend yield. MPC is a Conservative buy below $122.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) has provided energy exploration and petrochemical manufacturing services for more than 100 years. The company has energy and chemical assets around the world, including in the U.S., Africa, Latin America and the Middle East. Here in the U.S., Occidental Petroleum has operations in the Permian Basin, Rocky Mountains and Gulf of Mexico.

For the fourth quarter, the analyst community expects earnings to rise 41.9% year-over-year to $2.10 per share, up from $1.48 per share in the same quarter a year ago. Fourth-quarter revenue is forecast to grow 15.1% year-over-year to $9.22 billion.

Occidental has a long history of rewarding its shareholders, as it’s paid a dividend for an impressive 171-straight quarters. The company will pay a fourth-quarter dividend of $0.13 per share on January 17, 2023. All shareholders of record on December 12 will receive the dividend. The stock has a 0.8% dividend yield. OXY is a Moderately Aggressive buy below $71.

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.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with capacity to produce about 3.2 million barrels per day. Valero Energy is also the second-largest producer of corn ethanol and renewable diesel, as well as operates 33 wind turbines in the U.S.

Fourth-quarter earnings are forecast to soar 181.4% year-over-year to $6.95 per share, compared to $2.47 per share in the same quarter a year ago. Analysts have also upped earnings estimates by 46% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter revenue is expected to rise 18.7% year-over-year to $42.62 billion.

Like the rest of our Top Stocks this month, Valero Energy also consistently pays a quarterly dividend: It’s paid a dividend for 134-consecutive quarters. Recently, the company paid a fourth-quarter dividend of $0.98 per share. The stock has a 3.2% dividend yield. VLO is a Conservative buy below $133.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up. Volumes are bullish. The next target up is 159.05.

Navellier Top 5 Stocks for December

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

ConocoPhillips

ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world. With an extensive energy portfolio that spans 14 countries, ConocoPhillips transports oil and natural gas around the world through its pipelines, as well as on tankers, trucks and rails. So, the company has profited from increased energy demand and rising prices.

During the third quarter, production rose to 1,754 million barrels of oil equivalent per day (Mboed). In turn, ConocoPhillips achieved adjusted earnings of $4.6 billion, or $3.60 per share, or 91.7% year-over-year earnings growth. The consensus estimate called for adjusted earnings of $3.44 per share.

In the wake of its third-quarter earnings beat, the analyst community has upped fourth-quarter earnings estimates by nearly 3% in the past week. Fourth-quarter earnings are now forecast to grow 52.9% year-over-year to $3.47 per share. COP is a Conservative buy below $146.

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.

11-19-22: Closed at 128.59. Trade pressures are down. Volumes are bearish. The next target down is the support at 123.08.

11-27-22: Closed at 126.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 115.95.

12-2-22: Closed at 122.18. Trade pressures are down. Volumes are bearish. The next target down is 115.95.

12-11-22: Closed at 109.95. Trade pressures are down. Volumes are bearish. The next target down is 93.41.

12-16-22: Closed at 110.44. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 105.69.

 

Imperial Oil Limited

Imperial Oil Limited (IMO) is the largest petroleum product refiner in Canada, refining raw hydrocarbons into 650 petroleum products, including gasoline, diesel, natural gas, heating oil and lubricants. Imperial Oil boasts that it provides nearly a quarter of all the petroleum products that are used in Canada every day.

In the third quarter, Imperial Oil produced 430,000 barrels of oil equivalent per day (boed), and its refining throughput averaged 426,000 boed, with 100% capacity utilization. Third-quarter earnings soared 123.7% year-over-year to C$2.03 billion, or C$3.24 per share, while adjusted earnings jumped 100.8% year-over-year to C$1.82 billion. In U.S. dollar terms, Imperial Oil reported earnings of $2.43 per share, which topped estimates for $2.13 per share by 14.1%.

Imperial Oil also remains committed to rewarding its shareholders. It will pay a fourth-quarter dividend of $0.44 per share on January 1, 2023. All shareholders of record on December 2 will receive the dividend. The stock has a 2.3% dividend yield. IMO is a Conservative buy below $62.

SOM Technicals:

11-19-22: Closed at 56.46. Trade pressures are down. Volumes are neutral. The next target down is 32.82.

11-27-22: Closed at 57.32. Trade pressures are up. Volumes are neutral. At upper resistance, the next target up is the breakout at 57.56.

12-2-22: Closed at 55.93. Trade pressures are down. Volumes are bearish. The next target down is 52.82.

12-11-22: Closed at 50.01. Trade pressures are down but rising. Volum es are bearish. The next target down is 46.64.

12-16-22: Closed at 46.75. Trade pressures are down hard. Volumes are bearish. The next target down is 44.46.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) operates in several of the top oil and natural gas-producing regions in the U.S., with operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP. The company anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Given third-quarter operational results, Marathon Oil is well on its way to achieving this goal: Third-quarter production totaled 295,000 Mboed. Oil production accounted for 166,000 million barrels.

Marathon Oil also reported third-quarter adjusted earnings of $832 million, or $1.24 per share, and revenue of $2.25 billion, which represented 168.4% year-over-year earnings growth and 54.6% year-over-year revenue growth. The consensus estimate called for adjusted earnings of $1.19 per share on $2.02 billion in revenue. MRO is a Moderately Aggressive buy below $36.

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.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

11-19-22: Closed at 30.56. Trade pressures are down. Volumes are bullish. The next target down is 29.97.

11-27-22: Closed at 30.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is support at 29.07.

12-2-22: Closed at 29.74. Trade pressures are down. Volumes are bearish. The next target down is 26.51.

12-11-22: Closed at 26.17. Trade pressures are down. Volumes are bearish. The next target down is 24.88.

12-16-22: Closed at 27.33. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is the 200 day MA at 26.20.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) has provided energy exploration and petrochemical manufacturing services for more than 100 years. The company has energy and chemical assets around the world, including in the U.S., Africa, Latin America and the Middle East. Here in the U.S., Occidental Petroleum has operations in the Permian Basin, Rocky Mountains and the Gulf of Mexico.

In the third quarter, Occidental Petroleum produced 1,180 million barrels of oil equivalent per day (Mboed). Total U.S. production was 944 Mboed in the third quarter. During the first nine months of the year, the company achieved total production of 1,136 Mboed, with 902 Mboed in the U.S.

Given the strong operational results, Occidental Petroleum posted robust third-quarter results. Adjusted earnings surged 180.4% year-over-year to $2.44 per share, up from $0.87 per share in the same quarter a year ago. Third-quarter revenue came in at $9.5 billion. The consensus estimate called for earnings of $2.46 per share on $9.5 billion in revenue. OXY is a Moderately Aggressive buy below $82.

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.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day. Valero Energy also produces corn ethanol and 700 million gallons of renewable diesel, as well as operates 33 wind turbines.

Valero Energy is making its first appearance on the Top Stocks list this month, as the company recently released blowout quarterly results. Third-quarter adjusted earnings surged 413.8% year-over-year to $2.8 billion, or $7.14 per share, beating estimates for adjusted earnings of $6.84 per share. Revenue rose 50.6% year-over-year to $44.45 billion, which bested estimates for $43.26 billion.

Thanks in part to the stunning third-quarter results, the analyst community has upped fourth-quarter estimates by 62.5% in the past three months. Fourth-quarter earnings are now forecast to soar 184.2% year-over-year to $7.02 per share, while revenue is expected to grow 22.3% year-over-year to $43.89 billion. VLO is a Conservative buy below $153.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

Navellier Top 5 for November

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

CF Industries Holdings, Inc.

CF Industries Holdings, Inc. (CF) is a leading fertilizer company here in the U.S., so it has not only benefited from increased demand domestically but also internationally. You may recall that the Russia-Ukraine war has created a strain on fertilizer supplies, as Russia is one of the top fertilizer producers globally – and sanctions against the country have left others scrambling for alternative sources.

The analyst community anticipates that CF Industries business has prospered in this environment. For the third quarter, earnings are expected to surge to $3.31 per share, up from a $0.86 per share loss in the same quarter a year ago. Third-quarter revenue is forecast to come in at $2.39 billion.

I should add that CF Industries will pay a fourth-quarter dividend of $0.40 per share on November 30. All shareholders of record on November 11 will receive the dividend. The stock has a 1.5% dividend yield. CF is a Conservative buy below $118.

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.

10-01-22: Closed at 96.25.Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 85.29.

10/8/22; closed at 104.80. Trade pressures are up. Volumes are bullish. The next target up is 109.45

10-16-22: Closed at 98.04. Trade pressures are down. Volumes are bearish. The next target down is the the 200 day MA at 92.26.

10-22-22: Closed at 107.32. Trade pressures are up. Volumes are bullish. The next target up is 110.46.

10-29-22: Closed at 105.71. Trade pressures are up but declining. Volumes are now bearish. the next target down is 103.74.

11-5-22: Closed at 105.38. Trade pressures are up. Volumes are now neutral. The next target up is 115.23.

11-11-22: Closed at 102.82. Trade pressures are down. Volumes are bearish. The next target down is 95.90.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) is a leading producer of oil and natural gas in the U.S., with operations in the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin. Production in the Delaware Basin has been particularly lucrative for the company, as it’s boosted Devon Energy’s overall production and bottom line in the first two quarters of the year.

Devon Energy will release third-quarter results after the stock market closes on Tuesday, November 1 – and analysts expect strong production numbers to again support stunning bottom-line growth. Third-quarter earnings are forecast to nearly double year-over-year to $2.13 per share, up from $1.08 per share in the same quarter a year ago. Revenue is expected to rise 41.7% year-over-year to $4.91 billion.

Now, Devon Energy is a High-Growth Investment and an Elite Dividend Payer because it offers the ideal mix of growth and income. The company has more than doubled its annualized dividend to $3.82 per share in 2022, up from $1.86 per share in 2021. The stock has an 8.1% dividend yield. DVN is a Moderately Aggressive buy below $86.

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.

10-1-22: Closed at 60.13. Trade pressures are now up. Volumes are neutral. The next target up is 62.26.

10-8-22: Closed at 72.04. Trade pressures are up and trending. Volumes are bullish. The next target up is 81.17.

10-16-22: Closed at 68.02. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is the retest of 71.23.

10-22-22: Closed at 74.29. Trade pressures are up. Volumes are bullish. The next target up is 81.17.

10-29-22: Closed at 76.01. Trade pressures are up but declining. Volumes are bullish. The next target up is 81.17.

11-5-22: Closed at 71.48.. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is the prior high at 78.82.

11-11-22: Closed at 71.80. Trade pressures are up. Volumes are bearish. The next target down is 63.55.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is primarily an oil production company, with operations (facilities and wells) in the top four oil-producing basins in the U.S.: Eagle Ford, Bakken, STACK/SCOOP and the Permian Basin. The company also has natural gas operations in Equatorial Guinea where it focuses on the liquification of natural gas, methanol production and LPG processing.

Marathon Oil has topped analysts’ estimates in each of the last four quarters, and the company could be gearing up for another blowout report next week. The company will announce third-quarter results on November 3, with the analyst community expecting earnings to soar 210.3% year-over-year to $1.21 per share. Revenue is forecast to grow 55% year-over-year to $2.04 billion.

Thanks to its consistently strong fundamentals, Marathon Oil has been able to reward its shareholders with dividends for seven-straight quarters. The company will pay a fourth-quarter dividend of $0.09 per share on December 9. All shareholders of record on November 17 will receive the dividend. The stock has a 1.1% dividend yield. MRO is a Moderately Aggressive buy below $34.

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.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

 

Petroleo Brasilero

Petroleo Brasilero (PBR), or Petrobras, has been a volatile position over the past month, given the ongoing election drama in Brazil. The oil and natural gas company also revealed earlier this week that its third-quarter production dipped 6.6% year-over-year to $2.644 million barrels of oil equivalent per day (Mboed). The decline was attributed to a natural dip in output at mature fields and the halt to operations at its FPSO Capixaba unit.

Looking forward, though, Petrobras expects to boost FPSO production, and it has new wells anticipated to be online in the fourth quarter. So, the company provided fourth-quarter production guidance of 2.6 Mboed. I should add the company achieved 2.65 Mboed in the second quarter and 2.83 Mboed in the first quarter, for an average of 2.7 Mboed in the first nine months of the year.

Analysts’ earnings estimates dipped slightly in the past week in the wake of the production report but are still 20% higher than they were two months ago. The current consensus estimate calls for earnings of $1.51 per share on $30.54 billion in revenue, which translates to 196.1% year-over-year earnings growth and 31.3% year-over-year revenue growth. PBR is a Conservative buy below $16.

SOM Technicals:

5-29-22: Closed at 14.29. Trade pressures are are down. Volumes are bearish. The next target down is 13.95.

6-05-22: Closed at 14.20. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is 13.34.

6-11-22: Closed at 13.27. Trade pressures are down. Volumes are neutral. the next target down is 12.14.

6-18-22: Closed at 11.61. Trade pressures are down. Volumes are bearish. The next target down is 10.07.

10-1-22: Closed at 12.34. Trade pressures are down, but rising. Volumes are bullish. The next target up is 12.56.

10-8-22: Closed at 14.36. Trade pressures are up. Volumes are bullish. The next target up is 14.99.

10-16-22: Closed at 13.95. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is a retest of 14.29.

10-22-22: Closed at 16.05. Trade pressures are up. Volumes are bullish. The next target up is 16.93.

10-29-22: Closed at 13.46. Trade pressures are down. Volumes are bearish. The next target down is 12.34.

11-5-22: Closed at 12.65. Trade pressures are down. Volumes are bearish. the next target down is 12.34.

11-11-22: Closed at 11.56. Trade pressures are down but rising. Volumes are neutral. The next target down is 10.97.

 

Sociedad Quimica y Minera de S.A.

Sociedad Quimica y Minera de S.A. (SQM) is based in Chile, and it primarily produces lithium, iodine potassium nitrate and thermos-solar salt. Its products are sold in more than 110 countries. The company’s nutrients and fertilizers to boost crop output and lithium for batteries have been in top demand, as Europe breaks away from Russian fertilizers and electric vehicles grow in popularity.

In fact, third-quarter earnings are forecast to surge 1,140% year-over-year to $3.10 per share, compared to $0.25 per share in the same quarter a year ago. Analysts have also increased third-quarter estimates by 5.1% in the past two months, which bodes well for a fifth-straight quarterly earnings surprise. SQM is a Moderately Aggressive buy below $114.

SOM Technicals:

7-30-22: Closed at 98.37. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-6-22: Closed at 92.79. Trade pressures are down. Volumes are bearish. The next target up is 96.79.

8-12-22: Closed at 108.70. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-21-22: Closed at 90.07. Trade pressures are down. Volumes are bearish. The next target up 93.58, the new long entry.

10-1-22: Closed at 90.75. Trade pressures are down but rising. Volumes are bearish. The next target up is 94.11.

10-8-22: Closed at 90.05. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 78.98.

10-16-22: Closed at 93.57. Trade pressures are down. Volumes are bearish. The next target down is support at the low pivot at 80.25.

10-22-22: Closed at 94.08. Trade pressures are up. Volumes are bullish. The next target up is 98.59.

10-29-22: Closed at 95.16. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 89.98.

11-5-22: Closed at 96.70. Trade pressures are up. Volumes are bullish. The next target up is 98.59.

11-11-22: Closed at 111.20. Trade pressures are up. Volumes are bullish. The next target up is 116.94.

 

Navellier Top 5 Stocks for October 2022

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

CF Industries Holdings, Inc.

CF Industries Holdings, Inc. (CF), one of the biggest fertilizer companies in North America, has been in business for more than 75 years. From humble beginnings as a fertilizer supplier to regional agriculture customers in Illinois, CF Industries has grown to operate five nitrogen manufacturing plants in the U.S., as well as two plants in Canada, two plants in the U.K. and one in Trinidad.

Elevated natural gas prices have been a bit of a headwind for the company, but CF Industries still produced 5.1 million tons of ammonia in the first half of the year. In turn, it also achieved earnings of $2.05 billion, or $9.78 per share, in the first six months of 2022. For full year 2022, CF Industries expects ammonia production between 9.5 million and 10.0 million tons.

CF Industries is scheduled to release third-quarter results on November 2. Third-quarter earnings are expected to surge to $3.41 per share, up from a $0.86 per share loss in the same quarter a year ago. The analyst community has lowered estimates slightly in the past three months, but, clearly, CF Industries is anticipated to post blowout earnings results. Third-quarter revenue is forecast to come in at $2.35 billion. CF is a Conservative buy below $129.

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.

10-01-22: Closed at 96.25.Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 85.29.

10/8/22; closed at 104.80. Trade pressures are up. Volumes are bullish. The next target up is 109.45

10-16-22: Closed at 98.04. Trade pressures are down. Volumes are bearish. The next target down is the the 200 day MA at 92.26.

10-22-22: Closed at 107.32. Trade pressures are up. Volumes are bullish. The next target up is 110.46.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) remains one of the few stocks on both the High-Growth Investments and Elite Dividend Payers Buy List, as it continues to earn a coveted AA-rating. In other words, DVN earns an A-rating from both Dividend Grader and Portfolio Grader, making it a prime candidate for income and growth.

The oil and natural gas company rewards shareholders not only with regular quarterly dividends but also with variable dividends of up to 50% of its extra free cash flow. Today, September 30, Devon Energy paid a regular dividend of $0.02 per share and a variable dividend of $1.53 per share. The $1.55 per share dividend represented a 22% increase over the previous quarter’s dividend.

Devon Energy plans to announce earnings and revenue for its third quarter on November 1. The current consensus estimate calls for third-quarter earnings of $2.21 per share on $5.08 billion in revenue, which represents 104.6% year-over-year earnings growth and 46.5% year-over-year revenue growth. Again, earnings estimates have been lowered slightly, but Devon Energy has a history of topping earnings estimates. DVN is a Moderately Aggressive buy below $65.

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.

10-1-22: Closed at 60.13. Trade pressures are now up. Volumes are neutral. The next target up is 62.26.

10-8-22: Closed at 72.04. Trade pressures are up and trending. Volumes are bullish. The next target up is 81.17.

10-16-22: Closed at 68.02. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is the retest of 71.23.

10-22-22: Closed at 74.29. Trade pressures are up. Volumes are bullish. The next target up is 81.107.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) focuses primarily on maintaining the U.S.’s energy independence, as it operates in key oil and natural gas-producing regions across the country. It currently has operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP.

For fiscal year 2022, Marathon Oil projects that it will produce 159 million to 165 million barrels of oil per day (Mbopd) in the U.S. It also anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Marathon Oil is set to report third-quarter results on November 2. Third-quarter earnings are forecast to soar 220.5% year-over-year to $1.25 per share, up from $0.39 per share in the same quarter a year ago. Revenue is anticipated to increase 59% year-over-year to $2.09 billion, compared to $1.31 billion in the third quarter of 2021. Earnings are slightly lower than estimates three months ago; however, Marathon Oil has exceeded expectations for the past four quarters. MRO is a Moderately Aggressive buy below $25.

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.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

 

Petroleo Brasilero S.A.

Petroleo Brasilero S.A. (PBR), or Petrobras, is one of the biggest oil and gas companies in the world, producing an average 2.84 million barrels of oil equivalent per day. The company also is engaged in alternative energy solutions, with five biodiesel plants, 20 thermoelectric plants, joint ventures in four wind energy projects and one solar energy plant.

As a Brazilian company, Petrobras has benefited from its home country’s efforts to boost natural gas supplies. So far this year, Petrobras has produced 2.72 million barrels of oil equivalent per day (Mboed), with natural gas accounting for 514,000 boed. Strong production and sales are expected to continue to add to Petrobras’ top and bottom lines in the second half of the year.

For the third quarter, which is anticipated to be announced in November, the analyst community expects earnings to jump 215.7% year-over-year to $1.61 per share. Earnings estimates have been revised 30% higher in the past three months, which bodes well for a quarterly earnings surprise. Third-quarter revenue is forecast to grow 36.2% year-over-year to $31.67 billion. PBR is a Conservative buy below $14.

SOM Technicals:

5-29-22: Closed at 14.29. Trade pressures are are down. Volumes are bearish. The next target down is 13.95.

6-05-22: Closed at 14.20. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is 13.34.

6-11-22: Closed at 13.27. Trade pressures are down. Volumes are neutral. the next target down is 12.14.

6-18-22: Closed at 11.61. Trade pressures are down. Volumes are bearish. The next target down is 10.07.

10-1-22: Closed at 12.34. Trade pressures are down, but rising. Volumes are bullish. The next target up is 12.56.

10-8-22: Closed at 14.36. Trade pressures are up. Volumes are bullish. The next target up is 14.99.

10-16-22: Closed at 13.95. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is a retest of 14.29.

10-22-22: Closed at 16.05. Trade pressures are up. Volumes are bullish. The next target up is 16.93.

 

Sociedad Quimica y Minera de Chile S.A.

Sociedad Quimica y Minera de Chile S.A. (SQM) is the largest producer of lithium, iodine potassium nitrate and thermos-solar salt in the world. The company boasts that it has operated in the lithium industry for 25 years now, and The Wall Street Journal recently named SQM as the best-performing lithium stock.

The fact is SQM continues to benefit from strong demand and elevated prices for lithium, as about 73% of its gross profit comes from lithium. Currently, lithium prices stand at about $71,000 per metric ton, which is up from $10,000 per metric ton at the end of 2020. So far this year, lithium prices have soared 119% – and that has added handsomely to SQM’s top line, with second-quarter lithium revenue coming in at $1.85 billion.

SQM will post results for its third quarter on November 16. Third-quarter earnings are forecast to surge 1,140% year-over-year to $3.10 per share, compared to $0.25 per share in the same quarter last year. Analysts have increased earnings estimates by 15.2% in the past three months, so a fifth-straight quarterly earnings surprise is likely. SQM is an Aggressive buy below $111.

SOM Technicals:

7-30-22: Closed at 98.37. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-6-22: Closed at 92.79. Trade pressures are down. Volumes are bearish. The next target up is 96.79.

8-12-22: Closed at 108.70. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-21-22: Closed at 90.07. Trade pressures are down. Volumes are bearish. The next target up 93.58, the new long entry.

10-1-22: Closed at 90.75. Trade pressures are down but rising. Volumes are bearish. The next target up is 94.11.

10-8-22: Closed at 90.05. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 78.98.

10-16-22: Closed at 93.57. Trade pressures are down. Volumes are bearish. The next target down is support at the low pivot at 80.25.

10-22-22: Closed at 94.08. Trade pressures are up. Volumes are bullish. The next target up is 98.59.

 

Navellier Top 5 Stocks for September

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.

Navellier Top 5 Stocks for August

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

Cenovus Energy, Inc.

Cenovus Energy, Inc. (CVE), like this month’s two new buys, operates in the oil sands projects in Alberta. The company is the third-largest Canadian oil and natural gas producers, as well as the second-largest refiner and upgrader in Canada. The company produced nearly 792,000 barrels of oil equivalent per day in 2021, and it had total proved reserves of 6.1 billion barrels of oil equivalent.

Cenovus Energy reported second-quarter results on Thursday morning. During the second quarter, Cenovus Energy had upstream production of 762,000 barrels of oil equivalent per day and downstream throughput of more than 457,000 barrels per day.

Second-quarter earnings surged 981.8% year-over-year to $1.19 per share, up from $0.11 per share in the same quarter a year ago. The consensus estimate called for earnings of $0.82 per share, so Cenovus Energy posted a 45.1% earnings surprise. Second-quarter revenue came in at $19.2 billion, crushing estimates for $11.56 billion.

Looking forward, Cenovus Energy expects to achieve full-year production between 780,000 to 810,000 barrels of oil equivalent per day. Cenovus Energy also plans to pay a quarterly dividend of $0.105 per share on September 29. All shareholders of record on September 15 will receive the dividend. CVE is a Moderately Aggressive 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.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) is one of the top oil and gas companies in the U.S., with operations in the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin. This week, the company completed its acquisition of 38,000 additional net acres in the Williston Basin. It purchased the acreage from RimRock Oil and Gas, LP for $865 million.

The acquisition adds nicely to Devon Energy’s current assets in the Williston Basin, and it’s expected to boost production by an average of 20,000 barrels of oil equivalent per day in the next 12 months. Devon Energy also noted that there’s the potential for more than 100 undrilled inventory locations on the acreage, which will add to the company’s production and top and bottom lines.

Devon Energy is scheduled to release results for its second quarter on Monday, August 1. Second-quarter earnings are expected to surge 295% year-over-year to $2.37 per share, up from $0.60 per share in the same quarter a year ago. Analysts have also upped earnings estimates by nearly 14% in the past three months, so a quarterly earnings surprise is likely. Revenue is forecast to soar 100.6% year-over-year to $4.72 billion. DVN is a Moderately Aggressive buy below $71.

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: 68.51. Trade pressures are up. Volumes are now bearish. The next target down is 64.92.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is another leading oil and gas company in the U.S., as it has operations in the Bakken Shale, Eagle Ford, the Permian Basin and STACK/SCOOP. The company’s production portfolio is basically equally weighted with a 50% oil and 50% natural gas/natural gas liquids mix. Marathon Oil produced 173,000 barrels of oil per day and 348,000 barrels of oil equivalent per day in its fiscal year 2021.

Marathon Oil Corporation plans to post second-quarter results on Wednesday, August 3. The analyst community expects earnings to soar 486.4% year-over-year to $1.29 per share, up from $0.22 per share in the second quarter of 2021. Revenue is forecast to grow 81.5% year-over-year to $2.07 billion. Earnings estimates have been revised 22.8% higher in the past three months, which bodes well for a fifth-straight quarterly earnings surprise.

I should add that Marathon Oil also rewards its shareholders with regular quarterly dividends. In fact, the company upped its dividend for the fifth-straight quarter, paying $0.08 per share on June 10. The stock has a 1.3% dividend yield. MRO is a Moderately Aggressive buy below $29.

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. 

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) primarily provides infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world” – and it has benefited immensely from the shift to 5G.

In the first quarter, Quanta Services achieved 47% year-over-year revenue growth and 65% year-over-year earnings growth. The company noted that strong revenue growth in each of its businesses drove the robust results in the quarter, and, in turn, it provided a strong outlook for the rest of 2022. Full-year revenue is expected to be between $16.2 billion and $16.7 billion, while adjusted earnings per share are forecast to be between $6.00 and $6.50.

Thanks to the strong outlook, analysts are expecting solid results in the second quarter, too. Quanta Services is ready to release results from the most recent quarter on Thursday, August 4. The current consensus estimate calls for earnings of $1.52 per share on $4.04 billion in revenue, which represents 43.4% year-over-year earnings growth and 34.5% year-over-year revenue growth. PWR is a Conservative buy below $152.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

 

Sociedad Quimica y Minera

Sociedad Quimica y Minera (SQM) is a chemical company based in Chile, with a focus on producing lithium, iodine potassium nitrate and thermos-solar salt. SQM is a leading producer of potassium fertilizers, including potassium chloride (the most common fertilizer used globally), potassium sulfate and potassium nitrate.

Thanks to ongoing demand and rising fertilizer prices, SQM’s business had an incredible start to its fiscal year 2022. First-quarter earnings surged 1,070.7% year-over-year to $796.1 million, or $2.79 per share. Analysts only expected earnings of $1.28 per share. So, in the wake of its 118% earnings surprise, the analyst community has nearly doubled its second-quarter earnings estimates.

For the second quarter, earnings are expected to soar 1,080% year-over-year to $2.95 per share, compared to previous estimates for only $1.50 per share. Second-quarter revenue is forecast to come in at $2.19 billion. SQM will report final results on August 17. SQM is an Aggressive buy below $118.

SOM Technicals:

7-30-22: Closed at 98.37. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-6-22: Closed at 92.79. Trade pressures are down. Volumes are bearish. The next target up is 96.79.

8-12-22: Closed at 108.70. Trade pressures are up. Volumes are bullish. The next target up is 114.55.

8-21-22: Closed at 90.07. Trade pressures are down. Volumes are bearish. The next target up 93.58, the new long entry.

Navellier Top 5 Stocks for July

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.