The standoff between Iran and nearly the rest of the world over its nuclear program has caught a break – EU foreign policy chief Catherine Ashton on behalf of China, France, Germany, Russia, the U.K. and the U.S. accepted Iran’s request to restart talks on its nuclear program. (STAY AHEAD OF THE CURVE: Follow Kapitall on Twitter)
Asthon urged Saeed Jalili, Iran’s nuclear envoy, to meet her to seek an accord in which Iran would clarify questions about its nuclear program, according to Bloomberg.
This came right after President Obama “called for more time to let diplomacy and sanctions solve the standoff” while saying a military effort was not off the table. Israeli Prime Minister Benjamin Netanyahu spoke to the US Congress today, saying he won’t let Israel live in the “shadow of annihilation” and retained Israel’s option of acting on its own. (via Bloomberg)
The EU hasn’t given a deadline for the start or conclusion of the talks, although they are likely to start after Iranian new year March 20.
Business Section: Investing Ideas
The standoff has been a big influence on oil prices, which have risen 41% since October 4, 2011. Do you think this standoff will cause oil prices to continue rising?
For a closer look at the oil industry, we ran a screen on large-cap oil & gas stocks for those that institutional investors such as hedge fund managers expect to outperform. We screened for those with significant net institutional purchases over the current quarter.
Do you think these companies stand to benefit from a continued standoff?
Use the Turbo Chart to Compare the Performance of the First Two Companies in the List to the S&P 500:
1. Continental Resources Inc. (CLR, Earnings, Analysts, Financials): Engages in the exploration and production of crude oil and natural gas primarily in the north, south, and east regions of the United States. Market cap at $15.72B. Net institutional purchases in the current quarter at 1.6M shares, which represents about 3.91% of the company’s float of 40.89M shares.
2. Nexen Inc. (NXY, Earnings, Analysts, Financials): Operates as an independent energy company worldwide. Market cap at $10.17B. Net institutional purchases in the current quarter at 16.8M shares, which represents about 3.19% of the company’s float of 527.09M shares.
3. Pioneer Natural Resources Co. (PXD, Earnings, Analysts, Financials): Engages in the exploration and production of oil and gas in the United States, South Africa, and Tunisia. Market cap at $12.73B.Net institutional purchases in the current quarter at 4.7M shares, which represents about 4.39% of the company’s float of 107.10M shares.
4. Plains All American Pipeline, L.P. (PAA, Earnings, Analysts, Financials): Engages in the transportation, storage, terminalling, and marketing of crude oil, refined products, and liquefied petroleum gas and other natural gas-related petroleum products (LPG) in the United States and Canada. Market cap at $12.38B. Net institutional purchases in the current quarter at 6.8M shares, which represents about 4.52% of the company’s float of 150.56M shares.
(Written by Alexander Crawford. Institutional data sourced from Fidelity.)
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Analyze These Ideas: Getting Started
- Read descriptions for all companies mentioned
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Dig Deeper: Access Company Snapshots, Charts, Filings
- Continental Resources Inc. (CLR, Chart, Download SEC Filings)
- Nexen Inc. (NXY, Chart, Download SEC Filings)
- Pioneer Natural Resources Co. (PXD, Chart, Download SEC Filings)
- Plains All American Pipeline, L.P. (PAA, Chart, Download SEC Filings)
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