57% of Oil-Related Stocks Post Positive Returns in First Quarter, According to Weiss Ratings; Managed Care and Pharmaceutical Sectors Also Perform Well.Business Editors PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--April 30, 2003 Fifty-seven Adj. 1. fifty-seven - being seven more than fifty 57, lvii cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" percent of oil-related stocks(1) posted positive total returns for the first quarter of 2003, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Weiss Ratings, Inc., the nation's leading independent provider of ratings and analyses of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies, mutual funds, and stocks. For the sector as a whole, oil-related stocks delivered an average total return of 5.5 percent to investors, outperforming the S&P 500, which lost 3.2 percent during the quarter. "Fear about the Iraqi war's impact on oil supplies drove prices up to levels last seen during the 1991 Persian Gulf War Persian Gulf War or Gulf War (1990–91) International conflict triggered by Iraq's invasion of Kuwait in August 1990. Though justified by Iraqi leader Saddam Hussein on grounds that Kuwait was historically part of Iraq, the invasion was presumed to be ," stated David Lackey, president of Weiss Ratings, Inc. "Now that oil prices are starting to fall, however, many stocks in this sector could see a reversal reversal n. the decision of a court of appeal ruling that the judgment of a lower court was incorrect and is reversed. The result is that the lower court which tried the case is instructed to dismiss the original action, retry the case, or is ordered to change its of fortune, warranting a good dose of caution for investors." Among the 300 oil-related stocks rated by Weiss, 63, or 21 percent, currently receive a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. (B- and higher) Weiss Investment Rating, including:
Weiss
Investment
Company Headquarters Sector Rating
-------------------------------- ------------ ------------ ----------
Petro-Canada (NYSE:PCZ) Calgary, Integrated A
Alberta Oil &Gas
Imperial Oil LTD (AMEX:IMO) Toronto, Integrated A
Ontario Oil & Gas
Pogo Producing Co. (NYSE:PPP) Houston, Oil & Gas A-
Texas Exploration
& Prod.
Burlington Resources, Inc. Houston, Oil & Gas A-
(NYSE:BR) Texas Exploration
& Prod.
Patina Oil & Gas Corp. Denver, Oil & Gas B+
(NYSE:POG) Colo. Exploration
& Prod.
-------------------------------- ------------ ------------ ----------
Conversely con·verse 1 intr.v. con·versed, con·vers·ing, con·vers·es 1. To engage in a spoken exchange of thoughts, ideas, or feelings; talk. See Synonyms at speak. 2. , 123, or 41 percent, of the 300 oil-related stocks reviewed receive a weak (D+ and lower) Weiss Investment Rating, including:
Weiss
Investment
Company Headquarters Sector Rating
-------------------------------- ------------ ------------ ----------
Input/Output, Inc. (NYSE:IO) Stafford, Oil & Gas D-
Texas Equip. &
Services
Parker Drilling Co. (NYSE:PKD) Tulsa, Okla. Oil & Gas D
Drilling
Horizon Offshore, Inc. Houston, Oil & Gas D
(NDQ:HOFF) Texas Equip. &
Services
Trico Marine Services, Inc. Houma, La. Oil & Gas D
(NDQ:TMAR) Equip. &
Services
KCS Energy, Inc. (NYSE:KCS) Houston, Oil & Gas D
Texas Exploration
& Prod.
-------------------------------- ------------ ------------ ----------
Majority of Stocks Lose Ground in First Quarter Investors faced another tough quarter as 53.7 percent of the 6,383 stocks rated by Weiss posted negative total returns. Only 45.2 percent of rated stocks reported positive total returns, while 1.1 percent remained flat. Despite declines by a majority of stocks, the average total return for all stocks rated was 5.6 percent for the quarter. In addition to the oil and gas sector, the pharmaceutical and managed health care sectors also performed well during the quarter, helping to raise the market's total average return. Companies within these two sectors receiving a favorable Weiss Investment Rating include:
Weiss
Investment
Company Headquarters Sector Rating
----------------------------- ------------ --------------- ----------
UnitedHealth Group (NYSE:UNH) Minnetonka, Managed Health A
Minn. Care
Forest Labs (NYSE:FRX) New York, Pharmaceuticals A-
N.Y.
Mid Atlantic Medical Rockville, Managed Health A-
(NYSE:MME) Md. Care
Wellpoint Health Network Thousand Managed Health A-
(NYSE:WLP) Oaks, Care
Calif.
Mylan Labs (NYSE:MYL) Canonsburg, Pharmaceuticals B
Pa.
The Weiss Investment Ratings are a composite composite, alternate common name for Asteraceae or Compositae, the aster family. composite - aggregate evaluation of both a stock's risk and its performance, effectively capturing the risk/reward trade-off of an investment. For the 12-month period ending December December: see month. 31, 2002, the average total return by Weiss Investment Rating category was:
Weiss Investment 1-Year
Rating Category(2) Total Return(3)
----------------------------------------------------------
A 8.63
B 0.85
C -1.72
D -13.32
E -23.75
Weiss reviews more than 9,000 stocks, including all those traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , and Nasdaq. Weiss also issues investment ratings on more than 11,000 mutual funds, covering both equity and fixed income funds, and provides financial safety ratings on more than 15,000 financial institutions, such as banks, insurance companies, and brokerage BROKERAGE, contracts. The trade or occupation of a broker; the commissions paid to a broker for his services. firms. Weiss Ratings is the only major rating agency that receives no compensation from the companies it rates. Revenues are derived de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. strictly from sales of its products to consumers, businesses, and libraries. Investors needing more information on the investment quality of a specific stock can purchase a rating and summary analysis for as little as $7.95 through www.WeissRatings.com, or starting at $15 by calling 800-289-9222. Note to Editors: State tables listing the highest- and lowest-rated stocks of companies headquartered in each state are available upon request. (1)Stocks of companies involved in any aspect of the oil and gas industry, including the production and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. distribution of oil, gas, and related products. (2)Based on ratings issued at 12/31/01. (3)Average Total Return in calendar year 2002. |
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