Investor Business Daily comments
Posted: Tue Feb 01, 2011 12:53 pm
Top-rated stocks in IBD's Oil & Gas-U.S. Exploration & Production industry group include Gulfport Energy (GPOR), Concho Resources (CXO) and Northern Oil & Gas (NOG). This strong group ranked seventh out of 197 groups as of IBD's Monday edition.
Gulfport surged 12% in fast trade Monday, topping a 23.02 buy point from a flat base. The stock, which remains in a possible buying range, reached a three-year high.
After several quarters of declining earnings, Gulfport posted sharp improvements in profit the past three periods — a common pattern for companies in the group. [GPOR is going to report strong 4th quarter results and 1st quarter will be even better as they have a low price oil hedge that dropped off at 12-31-2010. - Dan]
Concho and Northern Oil both jumped 5% as they continued to rebound off their 50-day moving averages. Concho is discussed in today's Stocks In The News on Page B4.
Rosetta Resources (ROSE), another domestic oil producer, climbed 6% as it cleared resistance around 29.
Gulfport surged 12% in fast trade Monday, topping a 23.02 buy point from a flat base. The stock, which remains in a possible buying range, reached a three-year high.
After several quarters of declining earnings, Gulfport posted sharp improvements in profit the past three periods — a common pattern for companies in the group. [GPOR is going to report strong 4th quarter results and 1st quarter will be even better as they have a low price oil hedge that dropped off at 12-31-2010. - Dan]
Concho and Northern Oil both jumped 5% as they continued to rebound off their 50-day moving averages. Concho is discussed in today's Stocks In The News on Page B4.
Rosetta Resources (ROSE), another domestic oil producer, climbed 6% as it cleared resistance around 29.