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Shuda Xia
Shuda Xia
Articles (320) 

Stocks That Fell to 3-Year Lows in the Week of Nov. 29

CenterPoint Energy, Occidental Petroleum, Cabot Oil & Gas and Encana present buying opportunities

December 01, 2019 | About:

CenterPoint Energy Inc. (NYSE:CNP), Occidental Petroleum Corp. (NYSE:OXY), Cabot Oil & Gas Corp. (NYSE:COG), and Encana Corp. (NYSE:ECA) have declined to their three-year lows.

CenterPoint Energy declined to $24.56

The price of CenterPoint Energy shares declined to $24.56 on Nov. 29, which is only 4% above the three-year low of $23.57.

CenterPoint Energy is an American electric and natural gas utilities company that serves several markets in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company was formerly known as Reliant Energy, from which it is now separated. The company is also part of the Fortune 500.

CenterPoint Energy has a market cap of $12.34 billion; its shares were traded around $24.56 with a price-earnings ratio of 19.50 and a price-sales ratio of 1.01. The trailing 12-month dividend yield is 4.68%. The forward dividend yield is 4.66%. CenterPoint Energy had an annual average earnings growth of 5.30% over the past five years.

On Nov. 7, CenterPoint reported financial results for the third quarter. Income for the quarter was $241 million, or 47 cents per diluted share, compared with income of $153 million, or 35 cents per diluted share, during the prior-year quarter. Earnings per diluted share for the quarter was 53 cents, compared to earnings per diluted share of 39 cents a year ago.

Occidental Petroleum declined to $38.57

The price of Occidental Petroleum shares declined to $38.57 on Nov. 29, which is only 2.5% above the three-year low of $37.60.

Occidental is an international oil and gas exploration and production company operating in the U.S., the Middle East and Latin America and is engaged in petrochemical manufacturing in the U.S., Canad, and Chile. The company was the ninth-largest petroleum producer in Texas in 2018.

The company has a market cap of $34.46 billion; its shares were traded around $38.57 with a price-earnings ratio of 25.21 and a price-sales ratio of 1.59. The trailing 12-month dividend yield is 8.12%. The forward dividend yield is 8.15%.

On Nov. 6, Occidental Petroleum announced the company’s board of directors declared a regularly quarterly dividend of 79 cents per share. The dividend will be payable on Jan. 15, 2020 to stockholders of record at the close of business on Dec. 10, 2019.

Cabot Oil & Gas declined to $15.94

The price of Cabot Oil & Gas shares declined to $15.94 on Nov. 29, which is only 0.6% above the three-year low of $15.85.

Cabot is an American natural gas company that is focused on both hydrocarbon exploration and production. As of Dec. 31, 2018, the company had 11.605 trillion cubic feet equivalent of proved reserves, all of which was natural gas located in the Marcellus Shale. The company is also a component of the S&P 500.

The company has a market cap of $6.5 billion; its shares were traded around $15.94 with a price-earnings ratio of 8.36 and a price-sales ratio of 2.92. The trailing 12-month dividend yield is 2.19%. The forward dividend yield is 2.46%. Cabot had an annual average earnings growth of 4.20% over the past 10 years.

On Nov. 18, Cabot Oil & Gas announced it completed the previously announced divestiture of its 20% ownership interest in Meade Pipeline Co. LLC for approximately $256 million on Nov. 13. Proceeds from the divestiture will allow the company to enhance shareholder value through an ongoing opportunistic share repurchase program.

Encana declined to $3.94

The price of Encana shares have declined to $3.94 on Nov. 29, which is only 3.3% above the 3-year low of $3.81.

Encana is a Canadian oil and gas company that produces, transports and markets natural gas, oil and natural gas liquids. All of the company’s reserves and production are currently located in North America, with subsidiaries in Colorado, New Mexico, Alberta, and British Columbia.

The company has a market cap of $5.13 billion; its shares were traded around $3.94 with a price-earnings ratio of 3.21 and a price-sales ratio of 0.61. The trailing 12-month dividend yield is 1.80%. The forward dividend yield is 1.87%.

On Oct. 31, Encana reported financial results for the third quarter. Net earnings for the quarter were $149 million, or 11 cents per share, with non-GAAP operating earnings of $195 million, or 15 cents per share. Cash from operating activities for the quarter was $756 million with non-GAAP cash flow of $817 million.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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