Rising Momentum in Energy: 4 interesting Stocks to Watch
The energy sector is experiencing a resurgence in recent weeks, as the leading performer within the S&P 500 over the past month gaining 3.85% and outpacing the combined negative price returns of all other sectors. In this week's TC Fundamental Report, we focused on examining four prominent players within the energy sector, leveraging Trading Central's Strategy Builder and Fundamental Insight tools. Our scrutiny will be directed towards entities boasting a market capitalization of at least 2 billion dollars and a minimum TC Quantamental Rating of 70 out of 100. Furthermore, we will refine our criteria by specifically targeting companies with a TC Momentum Factor Rating of 70 out of 100, allowing us to filter out organizations lacking significant market movement.
Weatherford International, headquartered in Houston, is a drilling company with a market capitalization of 6.16 billion dollars. Presently, it holds a TC Quantamental Rating score of 67 out of 100and an impressive TC Momentum Factor Rating score of 94 out of 100, the highest in our selection. The performance trajectory of Weatherford year-to-date has been staggering, with a remarkable surge of 67.9%. Additionally, its earnings per share witnessed an astonishing growth of 1,300% year-over-year in the last quarter. As of the latest update on August 14, 2023, the stock's target price stands at $100, indicating a potential upside of roughly 16% compared to the previous closing price.
CNX Resources, an exploration and production company with a market capitalization of 3.62 billion dollars, boasts a leading TC Quantamental Rating score of 73 out of 100 in our selection. Its TC Momentum Factor Rating score of 86 out of 100 further solidifies its position. Throughout the year, CNX has demonstrated impressive growth, with an ascent of 33.3% as of August 21st. Moreover, its quarterly earnings per share figures surged by an impressive 1,547% year over year. The stock's price objective of $25.80 implies a substantial upside of 133% compared to the previous closing price.
Baker Hughes, an oilfield services and equipment company with a 35.6 billion dollar market capitalization, holds a TC Quantamental Rating score of 62 out of 100, the lowest within our selection. However, its TC Momentum Factor Rating score of 88 out of 100 is the second-highest among our four featured stocks. Over the course of 2023, Baker Hughes has surged by 19.4% year-to-date, with its earnings per share experiencing a remarkable growth of 612.5% in the last quarter compared to the previous year. Our TC Fundamental Rating tool has determined a target price of$38.20 as of August 14th, suggesting a potential upside of 8% in comparison to the previous closing price.
Frontline, a marine shipping company based in Norway, currently maintains a TC Quantamental Rating of 65, ranking as the second-lowest among our chosen entities. Its TC Momentum Factor Rating, standing at 79 out of 100, is the most moderate among the four companies being analyzed. In the year up to date, Frontline has achieved a remarkable surge of48.8%, accompanied by an extraordinary quarterly earnings growth of 543%compared to the previous year. Worth noting is the stock's projected price target of $21, suggesting a potential increase of 16% in relation to the closing price on Friday, August 18th.