Why These 5 Stocks Are Surging on Monday

In this article we take a look at five stocks that are surging on Monday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Surging on Monday.

5. EOG Resources, Inc. (NYSE:EOG) has increased around 4% today due to the higher oil prices and the OPEC+ meeting. Shale oil companies with premium assets such as EOG Resources, Inc. (NYSE:EOG) could benefit from higher oil prices with more profits and also higher asset values. Israel Englander‘s Millennium Management owned more than 1.15 million shares of EOG Resources, Inc. (NYSE:EOG) at the end of June.


4. Pioneer Natural Resources Company (NYSE:PXD) soared by 4.3% due to the higher WTI and natural gas prices. With the higher prices, companies like Pioneer Natural Resources Company (NYSE:PXD) can potentially return more capital to shareholders. 45 elite funds in our database were long Pioneer Natural Resources Company (NYSE:PXD) at the end of Q2.


3. ConocoPhillips (NYSE:COP) has surged 3.3% due to higher oil prices, which could help the company’s earnings. If its earnings  rise, ConocoPhillips (NYSE:COP) could buy back more stock and potentially increase its dividend. Of the around 873 elite funds in our database, 50 were long ConocoPhillips (NYSE:COP) at the end of the second quarter.


2. Schlumberger Limited (NYSE:SLB) has increased 3% due to the rise in energy futures on Monday. With higher energy prices, Schlumberger Limited (NYSE:SLB) could find it easier to increase its profits.  The number of elite funds in our database that were long Schlumberger Limited (NYSE:SLB) fell to 41 in the second quarter from 50 in the first quarter.


1. Baker Hughes Company (NYSE:BKR) is up 2% as oil services spending often increases if Brent prices stay higher for long enough. With more profits, the company could also potentially return more capital to shareholders. The number of elite funds in our database that were long Baker Hughes Company (NYSE:BKR) fell to 40 in Q2, 2021 from 42 in Q1, 2021.

Disclosure: None.