After A Huge Day For The Market AND Oil, It Looks Like There Is Room To Run

Dow futures up another 15 points.

NYMEX oil up almost another dollar, now solidly above $108; closing in on $109. And releasing all the oil in the SPR won't change things. There is no shortage of oil. If the price of oil corrects by an astounding 10%, it will still be in the high 90's. This is not good for Bakken operators who are hedged "wrong."

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Some random updates:

From Motley Fool: Sempra hit a new high today --

Sempra is right in the middle in terms of market cap, and is based on the West Coast, in San Diego. The company serves over 31 million people, and is actually the largest natural gas utility in the U.S. in terms of the number of customers served. The company operates in several segments, the largest of which are Southern California Gas (34% of revenues) and San Diego Gas & Electric (38%). The company also has a substantial South American business, with electric utilities in Chile, Peru, and Argentina.

The company is the most growth oriented of the three mentioned here, and its valuation and yield reflect that. Sempra currently trades for 19.6 times this year’s earnings, which are projected to grow at around 8% annually going forward, and according to the company this rate could rise to 10% in the right conditions. Also, Sempra pays a lower yield of 2.9%, representing just a 55% payout ratio. This also is a good indicator (although not always) of how aggressively a company plans to try to grow. A lower payout leaves more money to invest back into the company.

From SeekingAlpha: CNP hit a new high today --

Beat earnings estimate by four cents. Zacks: earnings report.

KOG: hit a new 52-week high, and after-market trading, up again, closing at $9.99.

OAS: wow; hit a new high, sailing through its old high; up 3% for the day.

COP: wow, COP hit a new high

XOM, PSX down a bit;

CHK: wow, up almost 8 percent today. Eight percent. Transcript. Despite a year of headlines, look at these results:

Chesapeake Energy Corporation (CHK) today reported financial and operational results for the 2013 second quarter. Key information related to the quarter is as follows:

• adjusted net income per fully diluted share of $0.51, compared to $0.06 in the 2012 second quarter
• adjusted ebitda of $1.424 billion increases 77% year over year 
• daily oil production rises 44% year over year to 116,000 bbls per day 
• full-year 2013 oil production outlook increases by 1 million barrels to 38 – 40 million barrels, a 22 to 28% increase year over year 
• total daily production increases 7% year over year to 4.1 bcfe per day