Shares of Exxon Mobil Corp. (NYSE: XOM) dropped nearly 1% last week, to close down 10% for the year to date and keep its position as the worst performing of the 30 stocks included in the Dow Jones Industrial Average index. The DJIA has posted a gain of 4.2% so far this year.
WTI crude oil prices dropped by the slightly more (about 1.2%) as analysts and traders continue to question the ability of the production cuts to rebalance the global crude market by the time the cuts are supposed to end in June. WTI closed Friday at $48.14 on the Nymex.
The company announced Friday after markets had closed that it had received notice of an unsolicited mini-tender offer by TRC Capital Corporation to purchase up to 2 million shares (approximately 0.05% of shares outstanding) at a purchase price of $78 per share. Exxon’s stock closed at $81.61 on March 10, 2017, the last business day prior to TRC Capital’s offer.
Exxon also lost a courtroom battle last week when a New York judge ruled that the company must reveal correspondence from its executives related to the impact of climate change on the company’s business. The lawsuit, filed by the attorney general of New York, is seeking evidence related to Exxon’s and other oil companies’ possible misleading of investors with respect to the material risks related to rising temperatures.
Best Oil Stocks To Buy For 2018: Fogo de Chao, Inc.(FOGO)
- [By Dustin Parrett]
But with a VQScore of 4, our top score, this company is one of the best stocks you can buy right now, which means the Raymond James rating might be too conservative. Not only are you getting a company with growth potential, you’re getting it at an excellent price.
Restaurant Stocks to Buy, No. 2: Fogo de Chao Inc. (Nasdaq: FOGO)
Fogo de Chao Inc. (Nasdaq: FOGO) is upscale Brazilian steakhouse, originally opened in Brazil in 1979. Fogo de Chao currently has 47 restaurants across the world.
- [By Monica Gerson]
Fogo De Chao Inc (NASDAQ: FOGO) is expected to post its quarterly earnings at $0.28 per share on revenue of $76.80 million.
Constellium NV (NYSE: CSTM) is estimated to report its quarterly earnings at $0.06 per share on revenue of $1.18 billion.
Best Oil Stocks To Buy For 2018: Autobytel Inc.(ABTL)
- [By Lisa Levin]
Shares of Autobytel Inc. (NASDAQ: ABTL) were down 26 percent to $8.05 as the company posted downbeat Q2 results and lowered its FY17 outlook. Barrington Research downgraded Autobytel from Outperform to Market Perform.
Best Oil Stocks To Buy For 2018: M&T Bank Corporation(MTB)
- [By Ben Levisohn]
We believe investors should continue to own three types of bank stocks: “Return of Capital (RC) Stocks”, “Risk On (RO) Stocks”, and “Multiple Revaluation (MR) Stocks.” RC stocks include M&T Bank (MTB), PNC Financial Services Group (PNC), and SunTrust Banks (STI); RO stocks include Bank of America, Popular (BPOP), Citigroup, JPMorgan, and KeyCorp (KEY); and MR stocks include BB&T (BBT) and PNC Financial Services Group (PNC).