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The High-Yield Dividend payers will continue to distribute dividends and can provide steady capital appreciation at the same time in the current low yield environment.
Best Buy Co., Inc.
Occidental Petroleum Corporation
CenterPoint Energy, Inc.
South Jersey Industries, Inc.
Helmerich & Payne, Inc.
Safety Insurance Group, Inc.
Tupperware Brands Corporation
Garmin (GRMN) to gain traction among truck drivers with the help of advanced features of the new series of oversized dezl of truck navigators.
It's the second time in three months that the debt-laden oil company is slashing its quarterly payout.
Occidental's (OXY) board of directors decides to lower dividend rate again to preserve liquidity amid this unprecedented economic crisis caused by COVID-19.
S&P Chief Economist Says $2.1 Trillion More Spending Ought to Do The Trick When is there ever too much government spending? According to S&P chief economist Beth Ann Bovino, it looks like never, because she wants $2.1 trillion more in government spending, despite multitrillion dollar deficits already that only look set to get worse. She […]The post Market Morning: S&P Says More Spending, Hong Kong Ping Pong, Riots, Food Prices Soar appeared first on Market Exclusive.
Dogs of the Dow have large customer base, sustainable business model, a long track of profitability and strong liquidity, which allow them to offer sizable yields regardless of market conditions.
Walmart stores suffer damage from the George Floyd protesting and looting in some cases.
Target takes steps to protect its workers and shoppers during the civil unrest sweeping the United States.
Chevron (CVX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The maker of popular outdoor devices has built a solid, zero-debt balance sheet thanks to steady cash generation.
CenterPoint Energy, Inc. (NYSE: CNP) and Energy Capital Partners, LLC, (ECP), a private equity and credit investor specializing in energy infrastructure projects, today announced that they have closed on the sale of CenterPoint Energy Services, Inc. (CES) to an affiliate of ECP. Net proceeds of the sale will be used to repay a portion of outstanding CenterPoint Energy debt.
Hedge fund Angelo Gordon & Co aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter and an investor presentation viewed by Reuters. The Angelo Gordon fund will be called AG Energy Credit Opportunities Fund IV LP and will seek to acquire distressed debt in the oil exploration and production, pipeline and services sectors, according to a presentation seen by Reuters. Todd Dittmann, head of energy at the $38 billion company, will manage the fund, which will pursue senior secured loans and discounted reserve based loans, the presentation showed.
What is a dividend and which companies have the best-yielding dividends? Read on for a primer on how best to approach this method of investing.
The pandemic crisis has exposed the weakness of many old-economy stocks, especially those with too much debt. Some are more resilient.
Chevron Corp (CVX) plans to cut 10 to 15% of its worldwide workforce as part of restructuring by the second-largest US oil producer. This represents the biggest headcount cut yet among global oil producers following the Covid-19 pandemic.The company previously disclosed a 30% reduction in its 2020 spending and voluntary job cuts amid this year’s plunge in oil prices and lower demand for oil and gas due to the virus pandemic.Chevron was among the first to make significant budget cuts as oil demand plummeted. The company expects to remove about 10 to 15 per cent of its global staff to “match projected activity levels”, a spokeswoman confirmed.The 4,500 to 6,750 job cuts are to “address current market conditions” with different impacts on each business unit and region. Most reductions will take place this year. Chevron currently has 45,000 non-gas station employees. Chevron also said it would reduce planned US shale output by about 125,000 bpd.US crude oil prices have nearly halved this year to about $33 a barrel as the pandemic hurt travel demand and led to stay-at-home orders. Oil demand has been hit by as much as two million barrels per day.On Wednesday, top US oil producer Exxon Mobil Corp (XOM) said it had not yet taken steps to reduce its workforce, although it has cut its planned spending for the year by 30%.Chevron's cuts will be "across the board but heavy on the corporate functions and the support functions," said CFO Pierre Breber in an interview.Jon Rigby, analyst at UBS, recently downgraded Chevron from Buy to Hold, noting that it had gained some 70% from its March lows. The rally speaks to the "leading reputation for capital discipline and the highly resilient, yet flexible financial model that CVX is running," according to Rigby.Chevron stock fell sharply with the onset of the coronavirus pandemic, but in the last two months has gained back most of its losses. Overall the stock is down 21% for the year and currently trades for $92.Analysts are strongly bullish on the stock. In the last 3 months, out of 16 analyst ratings, 4 have been Holds and 12 have been Buys, for an average analyst price target of $101. This represents 10% upside from Chevron's current stock price over the next 12 months. (See Chevron stock analysis on TipRanks).Related News: Ryanair Cuts Traffic Target By Almost 50% For Coming Year, Seeks To Reduce Boeing Plane Deliveries Uber In Partnership With MoneyGram For Driver Discount During Pandemic Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes More recent articles from Smarter Analyst: * Coty Names Chairman Peter Harf As CEO To Steer Strategic Turnaround; Shares Pop 18% * Abiomed’s Heart Pump Gets FDA Emergency Use Status For Covid-19 Patients * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial
The price of oil seems to be trending upward; maybe this is a buying opportunity. Four stocks in particular to avoid in June are Halliburton (NYSE: HAL), United States Oil Fund (NYSEMKT: USO), Occidental Petroleum (NYSE: OXY), and Patterson-UTI Energy (NASDAQ: PTEN). Here's why these Motley Fool contributors say you shouldn't be tricked into picking up shares of these likely underperformers.
Helmerich & Payne (HP) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
ConocoPhillips (COP) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
U.S. pipeline operator Energy Transfer LP will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. Marshall McCrea, chief commercial officer for the Dallas-based company, said in a recorded message to employees the cuts would begin Monday and affect about 6% of the company's staff, according to two people familiar with the recording. U.S. oil and gas producers have curtailed or shut in wells in response to crude prices down 45% since the start of the year, reducing deliveries to pipeline operators.
(Bloomberg) -- Occidental Petroleum Corp. cut its quarterly dividend by 91% to the lowest since at least the 1970s amid the pandemic-driven collapse in energy demand that has strained the oil explorer’s ability to shoulder its debt.Occidental shareholders will receive a penny per share on July 15, the Houston-based company said in a statement Friday. The move extends a cut announced in March when it trimmed the payout to 11 cents from 79 cents.The surprise cut came the same day under-fire Chief Executive Vicki Hollub and the rest of the board of directors won re-election at Occidental’s annual shareholders’ meeting. The company will announce the final vote tallies in a regulatory filing later.Hollub has weathered extreme pressure from shareholders ever since outbidding Chevron Corp. to win the purchase of Anadarko Petroleum Corp. last year. The deal saddled Occidental with some $40 billion of debt that was looking hard to pay off even before Covid-19 wiped out global oil demand, sending crude prices plunging to an unprecedented minus $40 a barrel at one point last month.The benchmark U.S. oil price rebounded 88% in May to close the month above $35 a barrel, but it’s still 44% down from its high point in January and below a level that would ensure healthy cash flow for most producers.The dividend reduction will save Occidental about $360 million a year, but it’s a drop in the ocean compared to the wall of debt due over the coming years. The company probably kept a token payout to avoid mandatory selling of the stock by dividend funds and to signal that it aims to restock the stipend at some point in the future, according to Leo Mariani, an analyst at KeyBanc Capital Markets.“They need that extra money at $35 a barrel oil, so it’s the right move,” Mariani said by phone. “They’ve got to do whatever they can to survive.”What Bloomberg Intelligence SaysAlready reeling from elevated debt, a weak fundamental backdrop and investors disgruntled by the Anadarko deal, Occidental doesn’t have many near-term positives we can speak to.\-- Vincent G. Piazza and Evan Lee, analystsRead the full report here.The company’s primary focus is on “maximizing liquidity and reducing debt,” Hollub said at the annual meeting, held virtually on Friday. The company has gone from being a steady, diversified oil producer to a debt-laden, shale-focused driller that now has a market value of just $11.7 billion, less than a third of the price it paid for Anadarko. Its credit rating was downgraded to junk in March.The stock dropped 5.1% to $12.95 in New York on a day when West Texas Intermediate oil futures jumped more than 5%.Hollub fended off a shareholder revolt by making peace with the company’s second-largest shareholder, billionaire Carl Icahn, ending a nine-month public battle that included personal barbs against the CEO. However, it came at a cost. Hollub and her fellow directors agreed to cede some control by putting nominees of the activist investor on the board.(Updates with analyst’s comment from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
After a bumpy couple of days, the S&P 500 traded somewhat quietly on Friday, after bouncing off the 3,000 area and 200-day moving average. With that in mind, let's look at a few top stock trades for next week. Top Stock Trades for Monday No. 1: Zscaler (ZS) Click to EnlargeSource: Chart courtesy of StockCharts.com Zscaler (NASDAQ:ZS) shares are ripping higher after better-than-expected earnings.Coming into the event, shares were trading higher, grinding up in a modest channel (blue lines) and maintaining about the 20-day moving average. However, shares were struggling to clear the $77.50 level.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat is, until earnings. The stock opened up near prior 2019 resistance around $85, before surging up to $98 as shares ended the day Friday up 29%. From here, I wouldn't be surprised to see $100 hit, with the 123.6% extension up near $101.On the downside, however, I want to see prior resistance hold as support at $85 -- along with the prior high near $90. Top Stock Trades for Monday No. 2: Canopy Growth (CGC) Click to EnlargeSource: Chart courtesy of StockCharts.com Canopy Growth (NYSE:CGC) stock is getting crushed on Friday, down just about 20% after disappointing quarterly results.The move comes after last week's breakout and this week's continuation above the 200-day moving average and $20 mark. So, what now?As you can see on the chart above, CGC stock tried to rally back over the $18.25-ish area, which was the April high and a significant level dating back to October 2019. However, shares were rejected on this move.Bulls need to see this level reclaimed. If it can, it puts a gap-fill back up toward $20 in play, as well as the 200-day moving average. On the downside, I want to see the 50-day moving average and the backside of prior downtrend resistance (blue line) hold as support. Below puts $14 on the table. Top Stock Trades for Monday No. 3: Occidental Petroleum (OXY) Click to EnlargeSource: Chart courtesy of StockCharts.com Occidental Petroleum (NYSE:OXY) isn't looking too hot, down 5% on Friday. Shares were unable to push higher, most recently failing at $15 before rolling over.However, the lack of bullishness has been a multi-month process. Shares failed to reclaim the 23.6% retracement, before forming a series of lower highs. Now, it's losing the 50-day moving average, as well as uptrend support.From here, bulls need to see the $12.75 area hold as support. Below $12.50 and a retest of $10 isn't out of the question.Given how poorly the stock has done amid the big rebound in the S&P 500 and crude oil, traders may be better off looking elsewhere than OXY. I mean sheesh, crude just had its best month ever and Occidental is down about 20% for May.Shares do not look attractive amid the current setup. Top Stock Trades for Monday No. 4: Uber (UBER) Click to EnlargeSource: Chart courtesy of StockCharts.com Shares of Uber (NYSE:UBER) have made an impressive climb from the March lows. The stock hit $14 in March and continues knocking on the 78.6% retracement just below $36.The firm is in talks with GrubHub (NYSE:GRUB) to hammer out an all-stock deal. If the stock reacts bearishly to the news, we have to consider a pullback. In this case, look to the $31 area, where Uber will find its 200-day moving average and uptrend support (blue line).On a breakout over the 78.6% retracement, look for a possible gap-fill up toward $40.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post 4 Top Stock Trades for Monday: ZS, CGC, OXY, UBER appeared first on InvestorPlace.