3 Energy Stocks That Surged More Than 10% This Week
-
Upload
the-motley-fool -
Category
Economy & Finance
-
view
1.656 -
download
0
Transcript of 3 Energy Stocks That Surged More Than 10% This Week
3 Energy Stocks That Surged More Than 10% This Week
The energy market was relatively tame this week, despite the fact
that OPEC was meeting. That meeting turned out to be rather mundane as OPEC stuck with its
plan, which was largely expected. That said, while OPEC didn't drive oil stocks this week,
there was some noteworthy news that fueled double-digit
rallies in the stock prices of thee energy-related companies.
Photo credit: TaxCredits.net
What:Teekay Tankers’ (NYSE: TNK) stock rose more than 11% this week.
So What: Key driver: Surging demand
for oil tankers is leading to strong daily rates for tankers
In addition to that driver, Teekay also announced a $80 million equity distribution agreement with Evercore Group
Agreement enables Teekay to raise capital, if needed
Now What: Daily rates for
supertankers are at rates not seen since 2008
Key takeaway: Higher daily rates are great for tanker companies as it drives higher cash flow
What:Biofuel maker Renewable Energy Group (NASDAQ: REGI) jumped almost 13%
this week.
So What: Key driver: The EPA
released a proposal setting the standard for renewable fuel mandates
As a result of that proposal, Renewable Energy Group’s stock was upgraded to “overweight” by Piper Jaffray
Now What: The proposed mandate lifts
some of the regulatory overhang impacting the company
Key takeaway: The proposal reduces uncertainty and it pushes for the growing use of advanced biofuels over the next few years, which are both positives for REG
What:Shares of oil and gas driller Halcon Resources (NYSE: HK) surged more than 14%
this week.
So What: Key driver: Halcon Resources
disclosed that CEO Floyd Wilson bought stock in open market transactions
Wilson bought 1 million shares paying an average cost of $1.03 per share
The CEO now directly owns 4.75 million shares valued at $4.9 million
Now What: Insider buying is seen as a
bullish sign by investors In this case, the CEO grew
his stake in the company by 20%
Key takeaway: Despite the bullish sign, Wilson’s direct ownership is still very minor at less than 1% of outstanding shares
This $19 trillion industry could destroy the InternetOne bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it
the single largest business opportunity in the history of capitalism... The Economist is calling it "transformative"... But you'll probably just call it "how
I made my millions." Don't be too late to the party -- click below for one stock to own when the Web goes dark.