Global oil supplies were already getting tight before Trump vowed on Tuesday to exit the Iran nuclear deal and impose "powerful" sanctions on the OPEC nation.
Energy industry insiders say Trump's tough stance on Iran will probably keep oil and gasoline prices higher than they would otherwise be.
Iran ramped up its oil production by 1 million barrels per day after sanctions were lifted in early 2016. At least some of that oil will now be pulled from the market �� at a time when oil prices are already rising because of production cuts by OPEC and Russia as well as instability in Venezuela.
Dan Eberhart, CEO of oilfield services company Canary LLC, drew a direct connection: "Withdrawing from the Iran nuclear deal will support higher oil prices."
Trump telegraphed the move, and oil prices shot up in recent weeks as traders anticipated it. Crude topped $70 a barrel this week for the first time in nearly four years. Hours before Trump's announcement, federal government forecasters raised their estimate for 2018 oil prices by 10.5% to an average of $65.58 a barrel.
Hot Energy Stocks To Invest In 2018: Ion Geophysical Corporation(IO)
Advisors' Opinion:- [By Ethan Ryder]
Ion Geophysical Corp (NYSE:IO) was the recipient of unusually large options trading on Thursday. Traders bought 1,224 call options on the company. This represents an increase of approximately 1,230% compared to the typical volume of 92 call options.
- [By Max Byerly]
ION Geophysical (NYSE: IO) and Glencore (OTCMKTS:GLNCY) are both oils/energy companies, but which is the superior business? We will contrast the two businesses based on the strength of their risk, valuation, dividends, profitability, institutional ownership, earnings and analyst recommendations.
Hot Energy Stocks To Invest In 2018: Northern Oil and Gas, Inc.(NOG)
Advisors' Opinion:- [By Matthew DiLallo]
Shares of Northern Oil & Gas, Inc. (NYSEMKT:NOG) are flying high, up 12% as of 10:30 a.m. EDT, after the company reported better-than-expected first-quarter results.
- [By Ezra Schwarzbaum]
SunTrust analyst Neal Dingmann upgraded shares of Northern Oil & Gas, Inc. (NYSE: NOG) from Hold to Buy and increased his price target from $2 to $4.
- [By Ethan Ryder]
Northern Oil and Gas Inc. (NYSEAMERICAN:NOG) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.20.
Hot Energy Stocks To Invest In 2018: Oceaneering International, Inc.(OII)
Advisors' Opinion:- [By Todd Campbell]
I've�written previously�about my belief that shrinking oil inventories and rising crude oil prices will spark a recovery in energy services stocks, and I've already explained why Core Labs�and Hess Corp are favorite stocks of mine to buy. Now, after reviewing�Oceaneering International's (NYSE:OII) first-quarter results,�I'm increasingly convinced that it's a great time to add this stock to any portfolio.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on Oceaneering International (OII)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
Oceaneering International (NYSE:OII) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 833 put options on the stock. This is an increase of approximately 1,415% compared to the average daily volume of 55 put options.
- [By Logan Wallace]
Cypress Energy Partners (NYSE: CELP) and Oceaneering International (NYSE:OII) are both oils/energy companies, but which is the superior business? We will contrast the two companies based on the strength of their dividends, analyst recommendations, risk, valuation, institutional ownership, earnings and profitability.
- [By Matthew DiLallo]
Oceaneering International (NYSE:OII) warned investors earlier this year that 2018 would be a challenging one. The offshore service and product company also thought that the first quarter would be particularly tough because it's a seasonally weaker quarter. While it�didn't go exactly as the company envisioned, the results met its muted expectations overall.
Hot Energy Stocks To Invest In 2018: ENSERVCO Corporation(ENSV)
Advisors' Opinion:- [By Logan Wallace]
Enservco (NYSEAMERICAN:ENSV) will be issuing its quarterly earnings data before the market opens on Wednesday, May 9th.
Enservco (NYSEAMERICAN:ENSV) last issued its earnings results on Thursday, March 22nd. The oil and gas producer reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). Enservco had a negative return on equity of 89.94% and a negative net margin of 43.71%. The business had revenue of $14.13 million during the quarter.
Hot Energy Stocks To Invest In 2018: PDC Energy, Inc.(PDCE)
Advisors' Opinion:- [By Max Byerly]
Get a free copy of the Zacks research report on PDC Energy (PDCE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Hot Energy Stocks To Invest In 2018: Newfield Exploration Company(NFX)
Advisors' Opinion:- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Newfield Exploration Company (NYSE: NFX) which traded down nearly 5% at $23.22. The stock��s 52-week range is $22.96 to $37.61. Volume was 5.2 million compared to the daily average volume of 3.3 million.
- [By VantagePoint]
Newfield Exploration Company (NYSE: NFX) just had a bearish crossover on Friday, according to the chart. The predicted 72-hour moving average crossed below the simple 10-day moving average. If Monday's price action holds, that will serve as a confirmation the negative trend.
- [By Ethan Ryder]
Fernwood Investment Management LLC trimmed its stake in Newfield Exploration (NYSE:NFX) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,500 shares of the energy company’s stock after selling 2,000 shares during the quarter. Fernwood Investment Management LLC’s holdings in Newfield Exploration were worth $769,000 at the end of the most recent quarter.
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