Integrated energy gainers
Continuing with the biggest movers in the energy sector, we’ll now look at the top gainers from the US integrated energy sector for the week starting December 11.
PetroChina gaining momentum
This week, PetroChina (PTR) is at the top of the list of gainers from the integrated energy group. PetroChina rose from last week’s close of $66.32 on December 8 to $69.48 on December 13—a strong rise of ~4.8%.
Even though there’s no stock-moving press release from the company this week, PTR rose strongly by ~2.6% yesterday and continued with the positive momentum throughout the day. This rise in PTR’s stock price came after finding support at its 50-day and 200-day moving averages. Last week, PTR’s 50-day moving average crossed above its 200-day moving average—a positive technical indication. As of December 13, PTR is trading at $69.48, whereas its 50-day and 200-day moving averages stand at $66.66 and $66.01, respectively.
In general, PTR has been in an uptrend since July 11, and it rose ~15.6% since then.
Other integrated energy gainers
Other gainers in the integrated energy group are China National Offshore Oil Corporation (CEO), BP Amoco PLC (BP), Royal Dutch Shell (RDS.A), and Statoil ASA (STO). These stocks have risen ~4.4%, ~2.6%, ~2.4%, and ~2.1%, respectively, so far this week.
Of note, on December 8, China National Offshore Oil Corporation (CEO) announced a mid-sized natural gas field discovery in Bohai. Commenting on the discovery, CEO’s executive vice president and general manager of Exploration Department, Xie Yuhong, said, “The natural gas field discovery of Bozhong 19-6 demonstrates good prospects of buried hills for future gas exploration of Bohai Bay and lays a solid foundation for the company’s quality clean energy supply for the Beijing-Tianjin-Hebei region.”
In general this week, iShares U.S. Energy ETF (IYE) is up modestly by ~0.3%. iShares U.S. Energy ETF (IYE) has ~42.7% weightage for the integrated energy sector in its portfolio and contains heavyweights like Exxon Mobile (XOM) and Chevron (CVX). In comparison to IYE, the SPDR Dow Jones Industrial Average ETF (DIA) is up by 1.1% in the current week.
To conclude the biggest movers in the refining and marketing and integrated energy sectors, we'll now look at Wall Street recommendations for the leading gainers and losers this week.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Kimberly-Clark (KMB) stock has risen 20.5% this year, boosted by the company’s better-than-expected sales and earnings during its last reported quarter. However, its stock could stop climbing. Here's why.