ASX Hot stocks: Drillsearch, Boart Longyear & Dexus

ASX recovers from early falls, ending down just 0.2%

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) has closed down 0.2% at 4814.4, after reversing early heavy losses. The gold sector was heavily punished down over 2%, while the Industrials lost more than 1%. The A-REIT (property trusts) sector was the standout performer, rising 1.7%.

Here's why these three stocks are hot right now.

Drillsearch Energy Limited (ASX: DLS) rose 4% to close at $1.02. Drillsearch is drilling for oil and gas in the Cooper Basin in conjunction with Beach Energy, which has reported several successes, including new oil finds and record oil production. Drillsearch also has a joint venture with QGC, owned by gas giant British Gas, which gives the company exposure to BG's LNG facility under construction in Gladstone.

Boart Longyear Limited (ASX:BLY) jumped 7.2%, ending at 67 cents. Shares in the provider of drilling services, including products and equipment for mining and mineral exploration have slumped from over $3, dropping by 78% in the past year. The main reasons for the fall have been several profit downgrades and the company's announcement that earnings in future years were uncertain, as the resources boom slowly tapers off and miners cut costs to combat falling commodity prices.

Dexus Property Group (ASX:DXS) added 3.3% to finish at $1.085 after investment bank UBS upgraded the property company to a 'Buy'. The broker noted that Dexus has strong earnings per share growth potential and a strong balance sheet compared to other office real estate investment trusts (REIT). Still, the company's shares are only offering a dividend yield of 3.6%, fairly low compared to other alternatives.

In the market for high yielding ASX shares? Get "3 Stocks for the Great Dividend Boom" in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!

More reading


Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »