WiseRadar: April 3, 2023.
VNET Group, Inc. ($VNET)
VNET Group, Inc. (VNET) is a technology company that specializes in cloud-based solutions. The company recently announced that it had signed a new agreement with a major Chinese bank. The agreement will help the bank to improve its cloud computing capabilities. This news has caused the stock to surge in pre-market trading.
Allego N.V. ($ALLG)
Allego N.V. (ALLG) hit a 52-week low on Tuesday, with its stock price falling by 6.9%. The company provides charging solutions for electric vehicles, and is currently facing challenges due to the economic downturn caused by the pandemic. Despite this, the company remains focused on its long-term growth strategy.
W&T Offshore, Inc. ($WTI)
W&T Offshore, Inc. (WTI) has been struggling with debt since the start of the pandemic. The company has been trying to restructure its debt and reduce its debt burden, but has not been successful. As of December 2020, the company had $1.2 billion in total debt and $326 million in cash. The company is continuing to work on restructuring its debt and improving its financial situation.
Marathon Oil Corporation ($MRO)
Marathon Oil Corporation (MRO) shares have been surging due to higher oil prices, strong earnings results, and a $2 billion share repurchase program. Analysts are also optimistic about the company’s ability to cut costs and increase production. Investors are optimistic about the company’s future and have been buying the stock.
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ProFrac Holding Corp. ($ACDC)
ProFrac Holding Corp (ACDC) had a strong first quarter in 2023, with a total return of 17.5%. The company’s success was attributed to its focus on artificial intelligence and the banking sector, which experienced turmoil during the quarter. Overall, ACDC was one of the best performing industry ETFs in Q1 2023.
SM Energy Company ($SM)
Raymond James maintained an Outperform rating on SM Energy Company (NYSE: SM) and lowered its price target from $45 to $38. Analysts believe that SM Energy’s cost cutting initiatives and balance sheet improvements will help it navigate through the challenging macro environment. They also noted that the company’s strong liquidity and low leverage should provide flexibility. In conclusion, Raymond James believes SM Energy is well positioned to benefit from the improving commodity prices.
Ovintiv Inc. ($OVV)
Ovintiv Inc. (OVV) is set to acquire substantially all of the leasehold interests and related assets of Black Swan Oil & Gas Pet. The acquisition will expand Ovintiv’s position in the Williston Basin and is expected to be immediately accretive to the company’s cash flow. The deal is expected to close in the second quarter of 2021.
Atlas Energy Solutions Inc. ($AESI)
Piper Sandler initiated coverage on Atlas Energy Solutions Inc. (AESI) with an Overweight rating and announced a price target of $4. The company is a leader in energy efficiency and renewable energy solutions. They have a strong portfolio of products and services, and their products are gaining traction in the market. They have a strong financial position and are well-positioned for growth.
U.S. Silica Holdings, Inc. ($SLCA)
Barclays upgraded U.S. Silica Holdings, Inc. (SLCA) to Equal Weight and set a price target of $17. Analysts expect the company to benefit from higher demand for frac sand and oil & gas investments. They believe the stock is currently undervalued and that it has potential for upside.
Earthstone Energy, Inc. ($ESTE)
Earthstone Energy, Inc. (ESTE) reported a return on capital employed of -0.02 in the last 12 months. This is a measure of how efficiently the company is utilizing its capital to generate profits. The company has been able to increase its revenue by 25.6% year-over-year, while its net income has decreased by 11.6%. The company has also reduced its debt by 5.6%.