Energy Stocks Making Moves Wednesday: ICD, TGS, BTU, YPF, EPM, SBOW, APA, TTI

The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum.

Non-GAAP (adjusted) net income also fell sharply, plummeting to $166,000 ($0.00 per share) from Q4’s 2022 profit of $15.1 million. According to data disclosed by the company, at the end of June 2023, proved https://1investing.in/ reserves amount to 32 Mboe with 27 Mboe that are classified as “developed producing” (88% of the total). In terms of product type, 49% of proved reserves are NatGas, while 32% is oil and 19% NGLs.

Cash flow from financing was negative as well at -$42 M with $16 M spent for dividends, $4 M for stock repurchases and $21 M used to repay all outstanding debt. Commission-free trading of stocks and ETFs refers to $0 commissions for Open to the Public Investing self-directed individual cash brokerage accounts that trade the U.S.-listed, registered securities electronically during the Regular Trading Hours. Keep in mind that other fees such as regulatory fees, Premium subscription fees, commissions on trades during extended trading hours, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Open to the Public Investing’s Fee Schedule to learn more. JSI and Jiko Bank are not affiliated with Public Holdings, Inc. (“Public”) or any of its subsidiaries. None of these entities provide legal, tax, or accounting advice.

Indeed, from a financial point of view the company is solid (no debt at all) and the current oil/gas prices are constantly increasing thus supporting future free cash flows. Evolution Petroleum saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,600,000 shares, an increase of 6.0% from the August 15th total of 1,510,000 shares. Based on an average daily trading volume, of 475,700 shares, the days-to-cover ratio is currently 3.4 days. Cash flow from investing activities was negative at -$7 M since the company added some new oil and gas properties.

Earnings

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. Meanwhile, trimming of output by oil producers has also perked up oil prices lately. Russia is expected to curtail its oil exports by 300,000 barrels a day till the end of this year. Similarly, Saudi Arabia is aiming to extend its production cut of 1 million barrels a day for another three months till the end of December 2023. Evolution is currently trading at $8.85/share, equivalent to a market capitalization of $288 M. Since the beginning of the year, the stock has gained 17% while, in the last 52-week period, the stock gained 34%.

A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations.

Although macro challenges are leading to some demand concerns, we think the space still has fuel left in the tank, especially for the operators that target growth opportunities and operating efficiency initiatives. All investments involve the risk of loss and the past performance of a security or a financial product macd vs stochastic does not guarantee future results or returns. You should consult your legal, tax, or financial advisors before making any financial decisions. This material is not intended as a recommendation, offer, or solicitation to purchase or sell securities, open a brokerage account, or engage in any investment strategy.

Evolution Petroleum Shareholder

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Northern Oil and Gas is an independent upstream operator engaged in the acquisition, exploration, development and production of oil and natural gas properties. Granite Ridge Resources is a scaled, non-operated oil and gas exploration and production company. The increasing oil and gas prices will support further FCF growth in the next quarter. In conclusion, I believe that Evolution Petroleum is a stock worth buying. In this context of rising commodity prices, Evolution will be able to increase its profitability and free cash flow generation, in particular, if we consider that – not being an operator – its production cost is $21/boe.

Evolution Petroleum 4Q Revenue Drops on Lower Oil, Gas Prices

GRNT, Viper Energy Partners VNOM, Evolution Petroleum EPM and Northern Oil and Gas NOG are well-positioned to gain shortly. Evolution published its fourth quarter and full-year results for fiscal 2023 after market hours on Tuesday. These showed that the energy company earned just under $18.2 million in revenue, which was a steep 57% lower on a year-over-year basis.

The company’s expected earnings growth rate for the current year is 20.8%. The Zacks Consensus Estimate for its current-year earnings has moved up 44.2% over the past 60 days. The company’s expected earnings growth rate for next year is 2.7%.

Inspire Fidelis Multi Factor ETF holds 70,836 shares of EPM stock, representing 1.08% of its portfolio. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.

The Zacks Consensus Estimate for its current-year earnings has moved up 6.9% over the past 60 days. The company’s expected earnings growth rate for next year is 9.7%. Since oil and gas companies are debt-laden, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio.

Evolution Petroleum Announces Third Fiscal Quarter 2022 Earnings Release Conference Call

An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. Plus, EPM info will be updated daily in your Zacks.com Portfolio Tracker – also free.

Dividend yield shows how much a company pays its shareholders in dividends annually per dollar invested. It reflects how much an investor will earn aside from any capital gains in the stock. The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. You can find your newly purchased EPM stock in your portfolio—alongside the rest of your stocks, ETFs, crypto, treasuries, and alternative assets.

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EPM’s historical performance
against its industry peers and the overall market. One share of EPM stock can currently be purchased for approximately $7.18. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

Indeed, at the end of FY2023, Evolution Petroleum has no outstanding financial debt and sits on a cash position of $11 M. Considering that sales and OpEx increased by about $20 M each, net income only slightly increased to $35 M (up 8% from $33 M one year earlier). On the contrary, not being an operator means having less control over the assets and, therefore, investing in assets with excellent operators becomes mandatory to ensure both profitability and safety.

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Both prices have now hit the highest level since November 2022, and have remained overbought for eight consecutive days. Oil prices scaled northward following bullish technical indications, and are now widely expected to reach $100-$102 a barrel soon. Brent crude, the global oil benchmark, increased 1.6% to $92.06 a barrel on Sep 12. The West Texas Intermediate (WTI) crude also settled 1.8% higher to $88.84 a barrel in the last trading session. Neither headline fundamental came close to the consensus-prognosticator estimate.

Data may be intentionally delayed pursuant to supplier requirements. Banking services and bank accounts are offered by Jiko Bank, a division of Mid-Central National Bank, Member FDIC. Optimism over a rise in demand for oil coupled with tightening of supply through output cuts has bolstered the price of oil. Looking at costs, total OpEx increased 31% year-on-year from $63 M to $83 M mostly due to a $11 M increase in lease operating costs generated by new acreage in the Jonah Field and the Williston Basin. $3 M higher due to salaries for the addition of new personnel.

The Barchart Technical Opinion rating is a 8% Sell with a Average short term outlook on maintaining the current direction. Institutional and hedge fund investors, family offices, private equity, research analysts and high net worth investors are encouraged to register and request… Riley Exploration Permian, Inc. (REPX) delivered earnings and revenue surprises of -4.55% and 7.31%, respectively, for the quarter ended March 2023.

Analyst Rating: Will Transocean LTD (RIG) Stock Do Better Than the Market?

Oil prices scaled upward after the Organization of the Petroleum Exporting Countries (OPEC) recently said that the global oil demand is expected to remain robust amid tighter supply. This is to be $0.12 per share, matching the previous four payouts. It will be dispensed on Sept. 29 to investors of record as of Sept. 22. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

• Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
• Evolution is currently trading at $8.85/share, equivalent to a market capitalization of $288 M.
• Plus, EPM info will be updated daily in your Zacks.com Portfolio Tracker – also free.
• Optimism over a rise in demand for oil coupled with tightening of supply through output cuts has bolstered the price of oil.
• Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days.

Evolution Petroleum Corp is an independent oil and gas company operating in the US. It is engaged primarily in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The revenue generated by the company includes royalty, mineral and working interests. Evolution Petroleum Corporation, an energy company, engages in the development, production, ownership, and exploitation of onshore oil and gas properties in the United States. The company holds interests in a CO2 enhanced oil recovery project in Louisiana’s Delhi field.

Since then, EPM stock has increased by 2.1% and is now trading at $7.18. Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can. Evolution Petroleum is a development-stage company formed to acquire and develop oil and gas fields.