Winning Stock Forecast: QEP, TUP, and NBR Are the Stocks That Soar

QEP Resources Winning Stock Increase 108.53% Following Seven Days Forecast

(Source: QEP Resources)

On May 31, I Know First issued a seven day winning stock forecast for QEP Resources with the signal of 1.08 and the predictability of 0.20. Seven days later, QEP stock had risen to $1.78 a 108.53% increase, in line with our forecast. This stock growth followed worldwide trends, as companies recover from COVID-19. 

For QEP Resources, a crude oil and natural gas exploration and production company, this is particularly good news. As worldwide economies continue to recover, oil prices will also rebound. This general trend can be attributed to some of the company’s stock growth. 

Further contributing the stocks 108.53% increase, on June 4, 2020, QEP Resources announced an amendment to their credit agreement. This amendment increased their liquidity by more than $500 million. It also permits a “change to the leverage ratio covenant to permit a maximum ratio of net priority guaranteed debt to consolidated EBITDAX of 2.50 to 1.00 as of the last day of each fiscal quarter of the Company” and to the minimum present value to net priority guaranteed debt ratio of at least 1.50 to 1.00 at all times. It also reduces their aggregate commitments from $1.25 billion to $850 million. This amendment provided the company with the necessary financial flexibility to execute their business model, increasing investor confidence.

Tupperware Brands Corporation Stock Saw a 100.93% Increase


I Know First had also issued a bullish seven day stock forecast for Tupperware Brands Corporation. This forecast had a signal of 0.95 and the predictability of 0.19. Following this winning stock forecast, TUP stock rose to $6.49 a 100.93% increase. 

This increase can be attributed to Tupperware recently approving a $87 million dollar land sale to O’Connor Capital. Prior to that, the company stated that they would offer to purchase up to $175 million aggregate principal amount of its outstanding 4.750% Senior Notes due 2021. This “Tender Offer” would essentially allow investors to sell their bonds back to the company at a distressed price. These changes are meant to reduce their debt and strengthen their balance sheet.  

Nabors Industries Ltd Stock Increase 77.06%


Finally, in the same forecast, I Know First issued a winning stock forecast for Nabors Industries Ltd with the signal of 7.97  and the predictability of 0.27. This forecast proved true, as seven days later, NBR stock had risen to $65.62 a 77.06% increase. 

As the oil industry has slowly recovered from the effects of COVID-19, oil companies’ stocks have rebounded. In May, the economy added 2.5 million jobs, promoting confidence in the market and fueling oil demand. Some investors even believe there might be an oil shortage toward the end of the year. This results from oil companies reducing costs to combat the effects of the virus. 

The stock growth has also benefited from the company’s decision to preserve liquidity and cut costs. Particularly, the stock shot up on June 5, following their first quarter 2020 results. In the press release, the company stated that to reduce debt they “purchased approximately $135 million of our shorter maturities in the open market at a discount to par.” On March 31, the company’s balances of cash and cash equivalents, including their undrawn credit facility, totaled $1.0 billion.” 

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