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The Zacks Analyst Blog Highlights Halliburton, Schlumberger, Devon Energy and Chevron
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For Immediate Release
Chicago, IL – March 23, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Halliburton (HAL - Free Report) , Schlumberger (SLB - Free Report) , Devon Energy (DVN - Free Report) and Chevron (CVX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Halliburton, Schlumberger the Latest to Pull Back from Russia
Halliburton said on Friday that it has decided to suspend future business in Russia with immediate effect, citing a wave of sanctions imposed after Moscow's attack on Ukraine. The oilfield service behemoth is also preparing to wind down its remaining operations in the nation to protest the full-scale invasion of Ukraine.
With sweeping international curbs making it difficult to conduct energy-related business in Russia — even with state-owned clients — this Houston, TX-based company took the public action. Halliburton added that it had already stopped transportation of "specific sanctioned parts and products" to Russia sometime back.
This way, HAL joined the lengthening list of oil and gas producers cutting ties with Russia as risks to finance and reputation mounts. However, it became the first energy services firm to unravel the Russian connection.
Larger rival Schlumberger followed suit by announcing stoppage to investment and technology supply to its Russian venture while closely monitoring the "dynamic" situation. SLB's disclosure heightened its concerns about the war.
Like Halliburton, Schlumberger too raised red flags about the conflict and worries about the safety of workers, to go with the complications of doing business in the country as Western sanctions increase in scale and scope.
Halliburton and Schlumberger are two of the largest oilfield contractors offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Both carry a Zacks Rank #3 (Hold).
Some better-ranked players in the energy space are Devon Energy and Chevron. Each sports a Zacks Rank #1 (Strong Buy).
Devon Energy: Devon Energy is valued at some $40.8 billion. The Zacks Consensus Estimate for DVN's 2022 earnings has been revised 18.5% upward over the past 60 days.
Devon Energy, headquartered in Oklahoma City, OK, delivered a 14.9% beat in Q4. DVN shares have gained around 201.8% in a year.
Chevron: Chevron is valued at around $321 billion. The consensus estimate for CVX's 2022 earnings has been revised 27% upward over the past 60 days.
CVX beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters, the average being 6.3%. Chevron has rallied around 69.4% in a year.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Halliburton, Schlumberger, Devon Energy and Chevron
For Immediate Release
Chicago, IL – March 23, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Halliburton (HAL - Free Report) , Schlumberger (SLB - Free Report) , Devon Energy (DVN - Free Report) and Chevron (CVX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Halliburton, Schlumberger the Latest to Pull Back from Russia
Halliburton said on Friday that it has decided to suspend future business in Russia with immediate effect, citing a wave of sanctions imposed after Moscow's attack on Ukraine. The oilfield service behemoth is also preparing to wind down its remaining operations in the nation to protest the full-scale invasion of Ukraine.
With sweeping international curbs making it difficult to conduct energy-related business in Russia — even with state-owned clients — this Houston, TX-based company took the public action. Halliburton added that it had already stopped transportation of "specific sanctioned parts and products" to Russia sometime back.
This way, HAL joined the lengthening list of oil and gas producers cutting ties with Russia as risks to finance and reputation mounts. However, it became the first energy services firm to unravel the Russian connection.
Larger rival Schlumberger followed suit by announcing stoppage to investment and technology supply to its Russian venture while closely monitoring the "dynamic" situation. SLB's disclosure heightened its concerns about the war.
Like Halliburton, Schlumberger too raised red flags about the conflict and worries about the safety of workers, to go with the complications of doing business in the country as Western sanctions increase in scale and scope.
Halliburton and Schlumberger are two of the largest oilfield contractors offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Both carry a Zacks Rank #3 (Hold).
Some better-ranked players in the energy space are Devon Energy and Chevron. Each sports a Zacks Rank #1 (Strong Buy).
You can see the complete list of today's Zacks #1 Rank stocks here.
Devon Energy: Devon Energy is valued at some $40.8 billion. The Zacks Consensus Estimate for DVN's 2022 earnings has been revised 18.5% upward over the past 60 days.
Devon Energy, headquartered in Oklahoma City, OK, delivered a 14.9% beat in Q4. DVN shares have gained around 201.8% in a year.
Chevron: Chevron is valued at around $321 billion. The consensus estimate for CVX's 2022 earnings has been revised 27% upward over the past 60 days.
CVX beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters, the average being 6.3%. Chevron has rallied around 69.4% in a year.
Why Haven't You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.