Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
It could be a mixed bag this earnings season for oil investors. Barclays analyst Paul Cheng expects oil majors will beat earnings expectations in Q2, but refiners could come up short once again.
Barclays projections are good news for oil majors investors, but Cheng notes consensus estimates are a low bar to clear.
“While oil & gas prices have recovered sharply from multi-year sub-$30/bl lows in 1Q16, we expect most companies to be unable to generate positive earnings, even at mid-$40/bl oil price deck-with the notable exception of XOM,” Cheng explained.
Barclays believes Exxon Mobil Corporation (NYSE: XOM), Chevron Corporation (NYSE: CVX), Imperial Oil Limited (USA) (NYSE: IMO) and Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) will all report positive Q2 earnings.
For refiners and MLPs, Barclays has lowered its 2016 EPS estimates by 61 percent and anticipates downward revisions to Q3 estimates. Despite the negative outlook, the firm names Tesoro Corporation (NYSE: TSO) as its top refiner stock pick, followed by Valero Energy Corporation (NYSE: VLO) and Marathon Petroleum Corp (NYSE: MPC).
Barclays has upped its 2016 EPS estimates by 25 percent for the oil majors and named Suncor Energy Inc. (USA) (NYSE: SU) and ConocoPhillips (NYSE: COP) as its top stock picks.
Disclosure: the author holds no position in the stocks mentioned.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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