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Sunday Watchlist

Week of June 17, 2019

Crude oil prices surged last week.

All after two oil tankers were attacked near the Strait of Hormuz.  It’s “highly likely Iran caused these attacks,” said a U.S. defense official, as quoted by CBS.  U.S. officials now say “any retaliation” from the U.S. will depend on whether it can recover enough evidence linking the attacks back to Iran.  

If it leads to war, Iran has already warned it could lead to $100 oil.

The “first bullet fired in the Persian Gulf will push oil prices above $100,” as quoted by CNBC.

While we wait to see what happens next, here are some of the top stocks to watch:

Opportunity No. 1

Occidental Petroleum (OXY)

OXY is sitting near a decade-low on oil’s pullback. However, President and CEO Vicki Hollub may believe the pullback is overdone, buying 37,460 shares at $48.15 each for a total investment of $1.8 million. Even Senior VP, General Counsel, and CCO Marcia Backus bought 10,000 shares of the stock this month for $48.09 a share. We must also consider the stock now trades with a 9.2x earnings – a 10-year low.

Opportunity No. 2

Stitch Fix (SFIX)

Just last week, the company posted better-than-expected fiscal third-quarter earnings results with revenue reaching $408.9 million — 29% growth.  Plus, the company posted a profit of 7 cents per share, which beat investor expectations. And its customer base increased by 17% to reach 3.1 million active clients.   KeyBanc Capital Markets analysts called the results “impressive” on the surface, but “even more impressive” when taking into account the fact that the first calendar quarter “was one of the worst in apparel retail since 2009,” as quoted by MarketWatch.

Opportunity No. 3

Turtle Beach Corporation (HEAR)

HEAR is an audio technology company, providing gaming headset solutions for video game and entertainment consoles, handheld consoles, personal computers, and mobile and tablet devices under the Turtle Beach brand.  It’s benefiting from eSports, which could see $1.1 billion in revenue this year. By 2022, that could jump to $3.2 billion.