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.