In this article we take a look at five stocks that are trending on Wednesday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Trending on Wednesday.
5. APA Corporation (NASDAQ:APA) is trending in extended market trading after reporting adjusted EPS of $0.98 for the third quarter, exceeding the consensus by $0.07 per share. Revenue for the period was $2.06 billion, up 83.9% year over year as higher oil prices helped the company’s overall results. For FY21, APA Corporation (NASDAQ:APA) also sees $2 billion of free cash flow. Among the elite funds in our database, the largest stake in APA Corporation (NASDAQ:APA) was held by D E Shaw, which reported holding $228.2 million worth of stock at the end of June.
4. Pioneer Natural Resources Company (NYSE:PXD) is in the spotlight after reporting third quarter adjusted EPS of $4.13 versus the consensus of $3.89. Sales for the period were $4.46 billion, versus the average estimate of $2.86 billion. For Q4, Pioneer Natural Resources Company (NYSE:PXD) sees oil production of 388-403 MBOPD. Pioneer Natural Resources Company (NYSE:PXD) is also trending after it announced a definitive agreement to sell all the company’s assets in the Delaware Basin to Continental Resources for $3.25 billion in cash, subject to normal closing adjustments. At second quarter’s end, a total of 45 of the elite funds tracked by Insider Monkey were long Pioneer Natural Resources Company (NYSE:PXD), a change of 22% from the previous quarter.
3. Continental Resources, Inc. (NYSE:CLR) is in the spotlight after it entered into an agreement to buy all of Pioneer Natural Resources Company (NYSE:PXD)’s assets in the Delaware Basin for $3.25 billion in cash, subject to normal closing adjustments. The deal is expected to close in the fourth quarter. Continental Resources, Inc. (NYSE:CLR) is also trending after it reported in-line adjusted EPS of $1.2 for Q3. Sales for the period rose 93.5% year over year to $1.34 billion but missed the consensus by $70 million. Steve Cohen’s Point72 Asset Management was long 832,136 shares of Continental Resources, Inc. (NYSE:CLR) at the end of June.
2. Lincoln National Corporation (NYSE:LNC) is trending after the company reported adjusted EPS of $1.62 for Q3, missing the average estimate by $0.95. Sales for the period rose 9.4% year over year to $5.24 billion and were $420 million ahead of estimates. The company also raised its dividend by around 7.1%. Two Sigma Advisors was among the elite fund holders of Lincoln National Corporation (NYSE:LNC) at the end of Q2.
1. Costco Wholesale Corporation (NASDAQ:COST) is trending after the company reported October sales of $16.47 billion, up 19.2% year over year. With higher sales, it’s generally easier for a company like Costco Wholesale Corporation (NASDAQ:COST) to be more profitable. Fisher Asset Management was long 3,887,213 shares of Costco Wholesale Corporation (NASDAQ:COST) at the end of Q3.
Disclosure: None.
