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 – and we added the stock to the Buy List in the April Monthly Issue. The company does a little bit of everything when it comes to crude oil and natural gas, extracting with hydraulic fracturing, horizontal drilling and offshore drilling, as well as producing and transporting the product.
In fact, ConocoPhillips has an extensive energy portfolio that spans 14 countries. The company transports oil and natural gas around the world through pipelines, as well as tankers, trucks and rail. And at the end of 2021, it had 6.1 billion barrels of oil equivalent in its reserves. As a result, ConocoPhillips benefited immensely from rising crude oil prices in 2021 – and I suspect its upcoming earnings report will reveal the company continued to prosper in the first quarter.
The company will release results on Thursday, May 5. For the first quarter, the current consensus estimate calls for earnings of $2.97 per share, which represents 330.4% year-over-year earnings growth. Analysts have also upped earnings estimates by 38% in the past three months. As you know, positive analyst revisions typically precede future earnings surprises. COP is a Conservative buy below $104.
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.
Devon Energy Corporation
Devon Energy Corporation (DVN) was also a new addition to the High-Growth Investments Buy List last month. As a leading energy company in the U.S., Devon Energy focuses primarily on discovering and producing oil and natural gas in the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin.
In particular, the Delaware Basin has been a highly lucrative operation for the company, as it has about 400,000 net acres and horizontal drilling operations for oil and natural gas. Devon Energy recently added 65 new wells to the Delaware Basin, which is expected to boost production and add to the company’s top and bottom lines in the first quarter.
Devon Energy will announce first-quarter results after the stock market closes on Monday, May 2. First-quarter earnings are expected to surge 291.1% year-over-year to $1.76 per share, while revenue is forecast to jump 116.2% year-over-year to $3.81 billion. Analysts have also upped earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. DVN is a Conservative buy below $63.
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.
ICL Group Ltd.
ICL Group Ltd. (ICL) is an Israeli company that produces bromine, potash, phosphates and polysulphate, which are vital fertilizers, nutrients and minerals for many agricultural, industrial, horticultural and landscaping businesses. ICL boasts that it’s the number-one producer of bromine worldwide, a top producer of soluble phosphate-based fertilizers and the largest producer of phosphorous-based flame retardants in the West.
The company operates 42 facilities in 13 countries, as well as has 20 research and development centers around the world. We added ICL Group to the Buy List in April as a way to take advantage of the food, agricultural and industrial industries need for fertilizers and other nutrients and minerals from outside of Russia. Robust demand is anticipated to increase its profitability in the first quarter.
ICL Group plans to review results from its first quarter in fiscal year 2022 on May 11. First-quarter earnings are forecast to soar 116.7% year-over-year to $0.13 per share, compared to $0.06 per share in the same quarter a year ago. Analysts’ earnings estimates have also increased by 116.7% in the past three months, so ICL is likely gearing up for a fourth-straight quarterly earnings surprise. ICL is a Moderately Aggressive buy below $12.
SOM Technicals:
5-1-22: Closed at 10.97. Trade pressures are down but turning up. Volumes are bearish. The next target down is 10.61.
5-6-22: Closed at 10.85. Trade pressures are down into the neutral zone. Volumes are now bearish. The next target down is 10.61.
5-13-22: Closed at 11.72. Trade pressures are up. Volumes are bullish. The next target up is 12.00.
5-21-22: Closed at 11.24. Trade pressures are down. Volumes are bearish. The next target down is 10.66.
Marathon Oil Corporation
Marathon Oil Corporation (MRO) is making its second-straight appearance on the Top Stocks list after we initially added it to the Buy List in March. The reality is that Marathon Oil continues to benefit in the current environment of high energy prices and robust demand. The company is an energy exploration and production company that operates in Eagle Ford, Bakken, STACK/SCOOP and the Permian Basin.
At the end of 2021, Marathon Oil had proved reserve of 1,106 million barrels of oil equivalent (MMBoe), or a 14% increase over 2020. The company also guided flat year-over-year production of 348,000 barrels of oil equivalent per day for 2022. It will be interesting to see if Marathon Oil ramps up its production target this year to meet rising demand here in the U.S., as well as abroad.
We’ll know more on Wednesday, as Marathon Oil plans to post earnings and revenue from the first quarter after the stock market closes on May 4. The current consensus estimate calls for earnings of $0.92 per share on $1.71 billion in revenue, which represents 338.1% year-over-year earnings growth and 60.9% year-over-year revenue growth. Analysts have upped earnings estimates by 61.4% in the past three months, so a quarterly earnings surprise is likely. MRO is a Conservative buy below $27.
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 inot 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.
Nutrien Ltd.
Nutrien Ltd. (NTR) is another fertilizer company that we added to the High-Growth Investments Buy List in the April Monthly Issue. With operations in 13 countries around the world, Nutrien boasts that its products and services are utilized in every major growing region worldwide. The company primarily produces more than 25 million tonnes of potash, phosphate and nitrogen products for its agricultural, feed and industrial customers.
For 2021, Nutrien plans to increase its potash output by nearly one million tonnes this year, which would bring 2022 potash production to about 15 million tonnes. In turn, the company also anticipates that it will achieve adjusted earnings per share between $10.20 and $11.80, which represents 63.7% to 89.4% annual earnings growth.
Given the positive outlook, the analyst community has upped first-quarter earnings estimates by 12% in the past three months. First-quarter earnings are now expected to rise 834.5% year-over-year to $2.71 per share, up from $0.29 per share in the same quarter last year. First-quarter revenue is forecast to come in at $7.62 billion. Nutrien is scheduled to release final first-quarter results after the stock market closes on Monday, May 2. NTR is a Conservative buy below $108.
SOM Technicals:
5-1-22: Closed at 98.25. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target up is 106.70.
5-6-22: Closed at 103.79. Trade pressures are down. Volumes are bullish. The next target down is 100.00
5-14-22: Closed at 98.95. Trade pressures are up. Volumes are bearish. The next target down is 95.00.
5-21-22: Closed at 97.02. Trade pressures are down. Volumes are bearish. The next target down is 91.90.