3 Top Oil Stocks To Watch In August 2022
Oil stocks represent a significant portion of the overall stock market and can be a good investment for those looking to diversify their portfolio. When considering an investment in oil stocks, it is important to do your research and understand the risks involved. The price of oil is notoriously volatile, and this can have a major impact on oil stocks. For example, if the price of oil drops sharply, it is likely that oil stocks will also decline in value. However, if the price of oil increases, oil stocks are generally seen as a good investment. Evidently, oil companies such as Occidental Petroleum Corporation (NYSE: OXY), and ConocoPhillips (NYSE: COP) have seen significant increases in their share price of over 107% and 36%, respectively.
Another factor to consider when investing in oil stocks is the political stability of the countries where the companies operate. If there is instability in a country, it could have a negative impact on the company’s operations and, as a result, the value of its stock. Finally, it is also important to keep in mind that oil stocks can be a more speculative investment than other types of stocks. This means that they may not be suitable for all investors. If you are considering investing in oil stocks, here are three to check out in the stock market today.
Oil Stocks To Watch Right Now
- Marathon Oil Corporation (NYSE: MRO)
- Chevron Corporation (NYSE: CVX)
- Exxon Mobil Corporation (NYSE: XOM)
Marathon Oil is an American exploration and production company with a diverse portfolio of high-quality assets. The company has a strong track record of delivering shareholder value through disciplined execution, operational excellence, and a commitment to health, safety, and the environment.
Just this month, the company reported its Q2 2022 quarterly earnings results. In the report, Marathon Oil notched in earnings of $1.32 per share on revenue of $2.3 billion. This beat wall street consensus estimates of $1.23 per share on revenue of $1.9 billion. The oil company saw an impressive 101.5% increase in revenue on a year-over-year basis. Additionally, the company posted a record quarterly adjusted free cash flow of over $1.2 billion at a 24% reinvestment rate.
“Second quarter represents another quarter of comprehensive delivery on our Framework for Success, including strong corporate returns, sustainable free cash flow generation, significant return of capital to shareholders, and ESG excellence,” stated Chairman, President, and CEO Lee Tillman. In the last month of trading, shares of MRO stock are up over 8%. They closed Monday’s trading session at $23.39 per share. Considering all of this, will you be putting MRO stock on your watchlist this week?
Chevron (CVX) is another oil major that is well-positioned to benefit from higher oil prices. Chevon is a leading oil and gas producer with a strong presence in the upstream, midstream, and downstream sectors of the industry. On one hand, its Upstream segment is responsible for exploring, developing, and producing crude oil and natural gas. On the other hand, the Downstream segment refines crude oil into petroleum products, markets crude oil, and manufactures renewable fuels. The company has a diversified portfolio of assets and operations in over 30 countries. Currently, Chevon is one of the largest publicly traded companies in the world.
Continuing on, last month CVX reported its second quarter 2022 earnings results. Diving in, Chevon reported better-than-expected estimates. In detail, the oil company reported earnings per share of $5.82 on revenue of $68.8 billion. This is in comparison with the consensus earnings estimate of $5.02 per share on revenue of $55.1 billion. Chevon also posted an 82.9% increase in revenue Revenue on a year-over-year basis.
Mike Wirth, Chevron’s chairman, and CEO stated, “We more than doubled investment compared to last year to grow both traditional and new energy business lines,” Wirth added. “With Permian production more than 15 percent higher than a year ago and now as one of the leading renewable fuel producers in the United States, Chevron is increasing energy supplies to help meet the challenges facing global markets.” Shares of CVX are up over 12% in the last month of trading activity, despite closing Monday’s trading session down 1.90% at $156.81 a share.
Last but not least, let’s look at ExxonMobil (XOM). ExxonMobil is the largest oil company in the world and one of the best positioned to benefit from higher oil prices. For starters, ExxonMobil Corporation is an American multinational oil and gas corporation headquartered in Irving, Texas. Next, the company produces a wide range of products, including gasoline, diesel, jet fuel, natural gas, chemicals, and lubricants. XOM also explores for and produces oil and natural gas.
In July, ExxonMobil reported better-than-expected second-quarter 2022 earnings results. In the report, the company posted earnings of $4.14 per share on revenue of $115.7 billion. For context, the consensus estimates were earnings per share of $3.80 and revenue of $120.2 billion. Next, the company reported a 70.8% increase in revenue on a year-over-year basis.
Chairman and CEO Darren Woods commented in his letter to shareholders, “Earnings and cash flow benefited from increased production, higher realizations, and tight cost control. Strong second-quarter results reflect our focus on the fundamentals and the investments we put in motion several years ago and sustained through the depths of the pandemic.” In the last month of trading action shares of XOM are up over 7%, and they closed Monday’s trading day at $93.32 a share.
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The metaverse is real: Zuck’s ‘incredible’ photorealistic tech wows crypto twitter
Often roasted for his metaverse tech demos, Zuckerberg appears to have blown away internet users with his latest avatar tech.
Often roasted for his metaverse tech demos, Zuckerberg appears to have blown away internet users with his latest avatar tech.
While critics have been busy writing eulogies for Meta’s metaverse dream over the last few years, Mark Zuckerberg’s latest demonstration of its photorealistic avatars shows it could be pretty far from dead after all.
Appearing on a Sept. 28 episode of the Lex Fridman podcast, Zuckerberg and the popular computer scientist engaged in a one-hour face-to-face conversation. Only, it wasn’t actually in person at all.
Instead, the entirety of Fridman and Zuckerberg’s conversation used photorealistic realistic avatars in the metaverse, facilitated through Meta’s Quest 3 headsets and noise-canceling headphones.
Here's my conversation with Mark Zuckerberg, his 3rd time on the podcast, but this time we talked in the Metaverse as photorealistic avatars. This was one of the most incredible experiences of my life. It really felt like we were talking in-person, but we were miles apart It's… pic.twitter.com/Nu8a3iYWm0— Lex Fridman (@lexfridman) September 28, 2023
However, in this case, users on social media, including those from Crypto Twitter, seemed to be genuinely impressed by the sophistication of the technology.
The Metaverse has upgraded pic.twitter.com/QT1LAkjQGB— Dexerto (@Dexerto) September 28, 2023
“Ok the metaverse is officially real,” wrote pseudonymous account Gaut, a rare moment of seemingly genuine praise from a user typically known for his satirical and sarcastic takes on current events.
“9 minutes into Lex / Mark metaverse podcast I forgot I was watching avatars,” wrote coder Jelle Prins.
Fridman alsoshared his impressions of the experience in real-time, noting how “close” Zuckerberg felt to him during the interview. Moments later, he explained how difficult it was to recognize that Zuckerberg’s avatar wasn’t his physical body.
“I’m already forgetting that you’re not real.”
The technology on display is the newest version of Codec Avatars. First revealed in 2019, Codec Avatars is one of Meta’s longest-running research projects which aims to create fully photorealistic real-time avatars that work by way of headsets with face tracking sensors.
However, users may need to wait a few years before donning their own realistic avatars, said Zuckerberg, explaining that the tech used requires expensive machine learning software and full head scans by specialized equipment featuring more than 100 different cameras.
This would be, at the very least, three years away from being available to everyday consumers, he said.
Still, Zuckerberg noted that the company wants to reduce the barriers as much as possible, explaining that in the future, these scans may be achievable with a regular smartphone.
The most-recent demonstration comes just one day after Meta unveiled its answer to ChatGPT, revealing its newest AI assistant Meta AI, which is integrated across a range of unique chatbots, apps and even smart glasses.crypto crypto
New Tables Show Intermediate-Term Overview is Negative
We have introduced two new tables in the DecisionPoint ALERT to give an overview of trend and BIAS for the major market indexes, sectors, and industry…
We have introduced two new tables in the DecisionPoint ALERT to give an overview of trend and BIAS for the major market indexes, sectors, and industry groups that we track. The first is our Market Scoreboard, which shows the current Intermediate-Term and Long-Term Trend Model (ITTM and LTTM) signal status. To review:
- The IT Trend Model generates a BUY Signal when the 20-day EMA crosses up through the 50-day EMA (Silver Cross).
- The IT Trend Model generates a NEUTRAL Signal when the 20-day EMA crosses down through the 50-day EMA (Dark Cross) above the 200-day EMA. This is a soft SELL Signal, going to cash or a hedge. It avoids being short in a bull market.
- The IT Trend Model generates a SELL Signal when the 20-day EMA crosses down through the 50-day EMA (Dark Cross) below the 200-day EMA.
- The LT Trend Model generates a BUY Signal when the 50-day EMA crosses up through the 200-day EMA (Golden Cross).
- The LT Trend Model generates a SELL Signal when the 50-day EMA crosses down through the 200-day EMA (Death Cross).
The current table shows that there is considerable stress in the intermediate-term; however, the long-term is still comfortably green for market and sector indexes. But we need to remember that the market indexes are cap-weighted, which means that they can be held aloft by large-cap stocks. The 11 sectors shown are composed solely of S&P 500 components, meaning that they will reflect the strength of that index. Industry groups, however, are not doing as well because they are less protected by the large-cap umbrella.
Next, let's look at how we determine the BIAS of a given index. First, the Silver Cross Index shows the percentage of stocks in an index that have a Silver Cross (20-day EMA above the 50-day EMA), and the Golden Cross Index shows the percentage of stocks in the index that have a Golden Cross (50-day EMA above the 200-day EMA). Next, we determine BIAS based upon the relationship of the Silver Cross Index to its 10-day EMA and the relationship of the Golden Cross Index to its 20-day EMA. When they are above, the BIAS is bullish. When they are below, the BIAS is bearish. See the chart below.
The following table shows the current intermediate-term and long-term BIAS of the market, sector, and industry group indexes we follow. Note that the picture is extremely bearish, but it is a very oversold condition, which will shift toward the positive in the event of a strong rally.
Conclusion: These new tables, available daily in the DecisionPoint ALERT, provide a quick overview of market trend and BIAS. They are intended to help focus attention on areas that may be of interest. They do not give action commands, but provide information flags to prompt assessment of the relevant charts.
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Tesla rival Polestar reveals lineup of its new electric vehicles
The Sweden-based electric vehicle maker completes key testing before launching production of its new SUV.
Tesla's Model Y crossover, the best-selling vehicle globally, is the standard that electric vehicle makers strive to compete with. The Austin, Texas, automaker sold about 267,200 Model Y vehicles in the first three months of the year and continued leading the pack well into the second quarter.
It's no wonder that the Model Y is leading all vehicles in sales as it retails for about $39,390 after tax credits and estimated gas savings. Ford (F) - Get Free Report hopes to compete with the Model Y about a year from now when it rolls out the new Ford Explorer SUV that is expected to start at $49,150.
Plenty of competition in electric SUV space
Mercedes-Benz (MBG) however, has a Tesla rival model with its EQB all-electric compact sports utility vehicle with an estimated 245 mile range on a charge with 70.5 kWh battery capacity, 0-60 mph acceleration in 8 seconds and the lowest price of its EVs at a $52,750 manufacturers suggested retail price.
Tesla's Model X SUV has a starting price of about $88,490, while the Model X full-size SUV starts at $98,490 with a range of 348 miles. BMW's (BMWYY) - Get Free Report xDrive50 SUV has a starting price of about $87,000, a range up to 311 miles and accelerates 0-60 miles per hour in 4.4 seconds.
Polestar (PSNY) - Get Free Report plans to have a lineup of five EVs by 2026. The latest model that will begin production in the first quarter of 2024 is the Polestar 3 electric SUV, which is completing its development. The vehicle just finished two weeks of testing in extreme hot weather of up to 122 degrees in the desert of the United Arab Emirates to fine tune its climate system. The testing was completed in urban cities and the deserts around Dubai and Abu Dhabi.
“The Polestar 3 development and testing program is progressing well, and I expect production to start in Q1 2024. Polestar 3 is at the start of its journey and customers can now visit our retail locations around the world to see its great proportions and sit in its exclusive and innovative interior,” Polestar CEO Thomas Ingenlath said in a statement.
Polestar plans 4 new electric vehicles
Polestar 3, which will compete with Tesla's Model X, Model Y, BMW's iX xDrive50 and Mercedes-Benz, has a starting manufacturer's suggested retail price of $83,000, a range up to 300 miles and a charging time of 30 minutes. The company has further plans for the Polestar 4, an SUV coupé that will launch in phases in late 2023 and 2024, as well as a Polestar 5 electric four-door GT and a Polestar 6 electric roadster that the company says "are coming soon."
The Swedish automaker's lone all-electric model on the market today is the Polestar 2 fastback, which has a manufacturer's suggested retail price of $49,900, a range up to 320 miles and a charging time of 28 minutes. The vehicle accelerates from 0-60 miles per hour in 4.1 seconds. Polestar 2 was unveiled in 2019 and delivered in Europe in July 2020 and the U.S. in December 2020.
Polestar 1, the company's first vehicle, was a plug-in hybrid that went into production in 2019 and was discontinued in late 2021, according to the Polestar website.
The Gothenburg, Sweden, company was established in 1996 and was sold to Geely affiliate Volvo in 2015.
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