2 Commodity Stocks to Buy on the Dip: COP, OXY
Earnings season is kicking into gear and the bears are lurking once again on Wall Street. With the Fed taper headwind behind us, markets are now looking to corporate earnings for confirmation of the improving growth prospects, which have been bolstering expectations and stock prices higher alike throughout all of 2013 [for more commodity futures news and analysis subscribe to our free newsletter].
Commodity Earnings This Week: Big Oil Under the Microscope
As earnings season gets into full swing, Wall Street’s attention will be fixated on the results of the most recent quarter. This week sees big oil step up to the plate, with some of the biggest names in the industry reporting on how they fared over the past three months. Below, we preview some of the most significant commodity earnings from the week ahead, helping investors prepare for what will ultimately be an active five day stretch for markets:
Big Oil Earnings to Dominate This Week
Crude oil has been among the worst-performing commodities this year as hefty production has combined with a number of other factors to send the fossil fuel lower. That being said, a number of bellwether oil firms will be detailing their most recent quarter’s earnings this week, as investors are anxious to see how lower prices have impacted bottom-line returns. Below, we outline five of the biggest oil firms to report earnings this week, and commodity investors should watch them closely [for more oil news and analysis subscribe to our free newsletter].
Earnings Preview: Big Oil On Tap This Week
As we enter the heart of earnings season, all eyes are fixated on bellwether firms and how they have fared over the most recent quarter. The coming week will be a big one for the crude oil industry, as the vast majority of leading oil producers will report in the coming five-day stretch. Crude oil has been under a microscope since experiencing downward pressure in the latter part of 2012. Since then, the commodity has rallied nearly 11%, which may have a big impact on the underlying revenues of big oil [for more oil news and analysis subscribe to our free newsletter].
California: America’s Next Oil Boom?
Forget Texas, California may be set to lead the United States when it comes to oil production and potential. The Monterey Shale, which stretches from Los Angeles to San Francisco, is estimated to contain approximately 400 billion barrels of oil. The United States consumes just under 19 million barrels of oil on a daily basis meaning that the Monterey reserves has the potential to meet the nation’s needs for over 57 years. Of course, recovering that oil will prove to be something of a struggle [for more oil news and analysis subscribe to our free newsletter].
