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 biggest independent exploration and production companies in the world – and it is profiting immensely from the rise in crude oil and natural gas prices. In fact, the company’s first-quarter earnings surged 480% year-over-yar to $5.8 billion, or $4.39 per share, while adjusted earnings jumped 373.9% year-over-year to $3.27 per share. That topped analysts’ estimates for $3.03 per share by 7.9%.

ConocoPhillips noted that it produced 1.75 million barrels of oil equivalent per day in the first quarter. For the second quarter, the company expects production to be between 1.67 million and 1.73 million barrels of oil equivalent per day.

The analyst community is also optimistic, as it has increased second-quarter earnings estimates by 53.7% in the past three months. Second-quarter earnings are now forecast to rise 179.5% year-over-year to $3.55 per share, up from $1.27 per share in the same quarter a year ago. As you know, positive analyst revisions typically precede future earnings surprises. COP is a Conservative buy below $125.

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 14.85. 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.

 

Devon Energy Corporation

Devon Energy Corporation (DVN) is a leading oil and natural gas production company in the U.S., with a focus on the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin. The bulk of the company’s production comes from the Delaware Basin, which is located in southeast New Mexico and West Texas, as it has about 400,000 net acres there.

During the first quarter, Devon Energy produced an average 575,000 barrels of oil equivalent per day, with oil accounting for about 50% of volume. The company also achieved core earnings of $1.88 per share, or 317.8% year-over-year earnings growth. Analysts expected earnings of $1.75 per share. Thanks to the strong results, analysts have upped second-quarter earnings estimates by 55% in the past three months. Second-quarter earnings are now expected to increase 280% year-over-year.

Like many of the domestic energy companies that we own, Devon Energy also plans to continue to reward its shareholders. It will pay a dividend of $1.27 per share on June 30 to all shareholders of record on June 13. The stock has a 5.3% dividend yield. DVN is a Conservative 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.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) is a U.S.-based energy exploration and production company that operates in the top four oil-producing basins in the U.S.: Eagle Ford, Bakken, STACK/SCOOP and the Permian Basin. Eagle Ford and Bakken dominate the company’s production, with an average 80,000 barrels of oil equivalent per day and 118,000 barrels of oil equivalent per day, respectively, in the first quarter of 2022.

First-quarter revenue increased 63.7% year-over-year to $1.76 billion and adjusted earnings soared 385.7% year-over-year to $1.02 per share. That compares to earnings of $0.21 per share and revenue of $1.07 billion in the first quarter of 2021. Analysts expected earnings of $0.92 per share on $1.71 billion in revenue, so MRO posted a 10.9% earnings surprise and slight revenue surprise.

Analysts have doubled their second-quarter earnings estimates in the past three months, now expecting earnings to surge 463.6% year-over-year to $1.24 per share. Second-quarter revenue is forecast to grow 78% year-over-year to $2.03 billion. MRO is a Conservative 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.

 

Petroleo Brasileiro S.A.

Petroleo Brasileiro 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. Its proved reserves total 8,816 billion barrels of oil equivalent. It also has its eye on alternative energy solutions with biodiesel plants, thermoelectric plants, wind energy projects and a solar energy project.

During the first quarter, Petrobras produced 2.796 million barrels of oil equivalent per day, or a 1.1% year-over-year increase. The company also achieved earnings of $1.27 per share, up from $0.04 per share in the same quarter a year ago. Analysts expected first-quarter earnings of $1.11 per share, so Petrobras posted a 14.4% earnings surprise.

Elevated energy prices should continue to drive strong results going forward. For the second quarter, analysts have increased earnings estimates by 63.6% in the past three months. Second-quarter earnings are now forecast to come in at $1.08 per share. 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.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) provides natural gas and natural gas liquids (NGLS) to the U.S. and overseas, with operations focused in the most lucrative natural gas basins in the U.S. This includes the Anadarko Basin, the Bakken Shale, the Barnett Shale, Eagle Ford Shale, the Permian Basin and Three Forks. It also has operations on the Gulf Coast of Louisiana and the Gulf of Mexico.

For its first quarter, Targa Resources reported revenue of $4.2 billion and earnings of $88.0 million, which compared to revenue of $3.63 billion and earnings of $146.4 million in the first quarter of 2021. Earnings estimates fell short of analysts’ expectations, but that hasn’t stopped the analyst community from increasing second-quarter estimates over the past three months. Second-quarter earnings are anticipated to soar 506.7% year-over-year to $0.91 per share. TRGP is a Conservative buy below $78.

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.