If you were looking for the worst place to be in the market right now, you’d probably pick the intersection of the worst two parts of the market. Arguably, those parts would be anything related to China, and anything related to the oil business. Today’s Bear of the Day perfectly sits at the intersection of these two industries.
Today’s Bear of the Day is Zacks Rank #5 (Strong Sell) China Petrol . China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas, and chemical operations and businesses in the People's Republic of China. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others. The company explores and develops oil fields; produces crude oil and natural gas; processes and purifies crude oil; and manufactures and sells petroleum products. It also owns and operates oil depots and service stations; and distributes and sells refined petroleum products, including gasoline and diesel through wholesale and retail sales networks.
The reason for the unfavorable Zacks Rank lies in the series of negative earnings estimate revisions lately. Over the course of the last few weeks, estimates for the current year and next year have come tumbling down. Our current year Zacks Consensus Estimate has gone from $9.87 to $9.68 while next year’s number has come from $10.39 to $9.59. A huge negative move which has adversely affected the stock price.
This industry is currently in the Bottom 9% of our Zacks Industry Rank. There are no stocks with a favorable rank currently. However, two stocks, Ecopetrol (EC - Free Report) and Petroleo Brasileriro (PBR - Free Report) are Zacks Rank #3 (Hold) stocks.
More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
If you were looking for the worst place to be in the market right now, you’d probably pick the intersection of the worst two parts of the market. Arguably, those parts would be anything related to China, and anything related to the oil business. Today’s Bear of the Day perfectly sits at the intersection of these two industries.
Today’s Bear of the Day is Zacks Rank #5 (Strong Sell) China Petrol . China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas, and chemical operations and businesses in the People's Republic of China. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others. The company explores and develops oil fields; produces crude oil and natural gas; processes and purifies crude oil; and manufactures and sells petroleum products. It also owns and operates oil depots and service stations; and distributes and sells refined petroleum products, including gasoline and diesel through wholesale and retail sales networks.
The reason for the unfavorable Zacks Rank lies in the series of negative earnings estimate revisions lately. Over the course of the last few weeks, estimates for the current year and next year have come tumbling down. Our current year Zacks Consensus Estimate has gone from $9.87 to $9.68 while next year’s number has come from $10.39 to $9.59. A huge negative move which has adversely affected the stock price.
This industry is currently in the Bottom 9% of our Zacks Industry Rank. There are no stocks with a favorable rank currently. However, two stocks, Ecopetrol (EC - Free Report) and Petroleo Brasileriro (PBR - Free Report) are Zacks Rank #3 (Hold) stocks.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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