Schlumberger (NYSE: SLB), Air Products & Chemicals, Inc. (NYSE: APD), Honeywell International Inc. (NYSE: HON) and Amazon.com, Inc. (NASDAQ: AMZN) had new ratings reiteration and price targets adjusted by analysts.
Schlumberger (SLB) had its price target lowered by Morgan Keegan to $90.00.
Air Products & Chemicals, Inc. (APD) had its price target lowered by Jefferies (NYSE:JEF) to $101.00.
Honeywell International Inc. (HON) had its price target raised by FBR Capital from $57.00 to $59.00. They have a “Market Perform” rating on the company.
The Benchmark Company reiterated its "Overweight" rating on Amazon.com, Inc. (AMZN).
Tuesday, October 25, 2011
Monday, October 24, 2011
Newfield (NFX) (ALTR) (BAX) (FSL) (MXIM) (INFA) (ESI) Price Targets Changed
Newfield Exploration Co. (NYSE: NFX), Altera (NASDAQ: ALTR), Baxter International Inc. (NYSE: BAX), Freescale Semi (NYSE: FSL), Maxim Integrated Products Inc. (NASDAQ: MXIM), Informatica Co. (NASDAQ: INFA) and ITT Educational Services Inc. (NYSE: ESI) had price targets on them adjusted by analysts.
Newfield Exploration Co. (NFX) had its price target lowered by Jefferies (NYSE:JEF) to $44.00.
Altera (ALTR) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $29.00.
Baxter International Inc. (BAX) had its price target lowered by Piper Jaffray (NYSE:PJC) to $69.00.
Freescale Semi (FSL) had its price target lowered by JPMorgan Chase & Co. to $16.00.
Maxim Integrated Products Inc. (MXIM) had its price target lowered by Needham & Company to $29.00.
Informatica Co. (INFA) had its price target lowered by Morgan Keegan to $45.00.
ITT Educational Services Inc. (ESI) had its price target lowered by Piper Jaffray to $80.00.
Newfield Exploration Co. (NFX) had its price target lowered by Jefferies (NYSE:JEF) to $44.00.
Altera (ALTR) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $29.00.
Baxter International Inc. (BAX) had its price target lowered by Piper Jaffray (NYSE:PJC) to $69.00.
Freescale Semi (FSL) had its price target lowered by JPMorgan Chase & Co. to $16.00.
Maxim Integrated Products Inc. (MXIM) had its price target lowered by Needham & Company to $29.00.
Informatica Co. (INFA) had its price target lowered by Morgan Keegan to $45.00.
ITT Educational Services Inc. (ESI) had its price target lowered by Piper Jaffray to $80.00.
Thursday, October 20, 2011
Juniper (JNPR) (INTC) (CREE) (HOG) (HSP) (ISRG) Price Targets Changed
Juniper Networks (NASDAQ: JNPR), Intel (NASDAQ: INTC), Cree, Inc. (NASDAQ: CREE), Harley-Davidson, Inc. (NYSE: HOG), Hospira, Inc. (NYSE: HSP) and Intuitive Surgical, Inc. (NASDAQ: ISRG) had their price targets adjusted by analysts.
Juniper Networks (JNPR) had its price target lowered by Credit Suisse (NYSE:CS) to $25.00. They have a “Neutral” rating on the company.
Intel (NASDAQ: INTC) had its price target raised by FBR Capital from $27.00 to $29.00. They have a “Market Perform” rating on the company.
Cree, Inc. (CREE) had its price target lowered by Morgan Keegan to $43.00.
Harley-Davidson, Inc. (HOG) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $38.00.
Hospira, Inc. (HSP) had its price target lowered by RBC Capital from $44.00 to $36.00. They have a “Sector Perform” rating on the company.
Intuitive Surgical, Inc. (ISRG) had its price target raised by analysts at Goldman Sachs (NYSE:GS) to $412.00. They have a “Neutral” rating on the company.
Juniper Networks (JNPR) had its price target lowered by Credit Suisse (NYSE:CS) to $25.00. They have a “Neutral” rating on the company.
Intel (NASDAQ: INTC) had its price target raised by FBR Capital from $27.00 to $29.00. They have a “Market Perform” rating on the company.
Cree, Inc. (CREE) had its price target lowered by Morgan Keegan to $43.00.
Harley-Davidson, Inc. (HOG) had its price target lowered by JPMorgan Chase & Co. (NYSE:JPM) to $38.00.
Hospira, Inc. (HSP) had its price target lowered by RBC Capital from $44.00 to $36.00. They have a “Sector Perform” rating on the company.
Intuitive Surgical, Inc. (ISRG) had its price target raised by analysts at Goldman Sachs (NYSE:GS) to $412.00. They have a “Neutral” rating on the company.
Halliburton (HAL) (AAPL) (INTC) (YHOO) (JNJ) (JNPR) Ratings and PTs
Halliburton (NYSE: HAL), Apple, Inc (NASDAQ: AAPL), Intel (NASDAQ: INTC), Yahoo! Inc. (NASDAQ: YHOO), Johnson & Johnson (NYSE: JNJ) and Juniper Networks (NASDAQ: JNPR) ratings and reiterations.
Halliburton (NYSE: HAL) had its price target lowered by Miller Tabak to $55.00. They have a “Buy” rating on the company.
JPMorgan Chase & Co. reiterated its “Overweight” rating on Apple, Inc (AAPL).
Lazard Capital reiterated its “Neutral” rating on Intel (INTC).
Morgan Stanley (NYSE:MS) reiterated its “Equal Weight” rating on Yahoo! Inc. (YHOO). They have a price target of $16.00 on the company.
Morgan Stanley reiterated its “Equal Weight” rating on Johnson & Johnson (JNJ).
Oppenheimer reiterated its “Market Perform” rating on Juniper Networks (JNPR).
Halliburton (NYSE: HAL) had its price target lowered by Miller Tabak to $55.00. They have a “Buy” rating on the company.
JPMorgan Chase & Co. reiterated its “Overweight” rating on Apple, Inc (AAPL).
Lazard Capital reiterated its “Neutral” rating on Intel (INTC).
Morgan Stanley (NYSE:MS) reiterated its “Equal Weight” rating on Yahoo! Inc. (YHOO). They have a price target of $16.00 on the company.
Morgan Stanley reiterated its “Equal Weight” rating on Johnson & Johnson (JNJ).
Oppenheimer reiterated its “Market Perform” rating on Juniper Networks (JNPR).
Tuesday, October 18, 2011
BP (BP) Keeps Moody (MCO) Rating After Settling with Anadarko (APC)
After BP's (NYSE:BP) settlement with Anadarko (NYSE:APC), Moody's (NYSE:MC) said it is maintaining its A2 rating and stable outlook on the company.
Moody's Senior Credit Officer Francois Lauras said, "Clearly the settlement falls short of a full pro-rata recovery of the costs already incurred or provided for by BP in connection with the Macondo accident. Nevertheless, it is within the range of outcomes that we have factored into the group's A2 rating."
Lauras added it shores up BP's assertion its contractors and partners bear responsibility in the failure of the Macondo oil well.
Major companies left to come to a settlement with BP are Halliburton (NYSE:HAL), Transocean (NYSE:RIG) and Cameron International (NYSE:CAM). Weathorford International (NYSE:WFT) and Mitsui have already entered into an agreement with BP.
BP was trading at $40.72, gaining $0.55, or 1.37 percent, as of 2:03 PM EDT.
Moody's Senior Credit Officer Francois Lauras said, "Clearly the settlement falls short of a full pro-rata recovery of the costs already incurred or provided for by BP in connection with the Macondo accident. Nevertheless, it is within the range of outcomes that we have factored into the group's A2 rating."
Lauras added it shores up BP's assertion its contractors and partners bear responsibility in the failure of the Macondo oil well.
Major companies left to come to a settlement with BP are Halliburton (NYSE:HAL), Transocean (NYSE:RIG) and Cameron International (NYSE:CAM). Weathorford International (NYSE:WFT) and Mitsui have already entered into an agreement with BP.
BP was trading at $40.72, gaining $0.55, or 1.37 percent, as of 2:03 PM EDT.
Brigham (BEXP) (EP) (PNY) (GXP) (LKQX) (LPX) Ratings Changes
Brigham Exploration (NASDAQ: BEXP), El Paso Corporation (NYSE: EP), Piedmont Natural Gas (NYSE: PNY), Great Plains Engy (NYSE: GXP), LKQ Co. (NASDAQ: LKQX) and Louisiana-Pacific Co. (NYSE: LPX) had ratings on them adjusted by analysts.
Brigham Exploration (BEXP) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating. They have a price target of $37.00 on the company.
El Paso Corporation (EP) was downgraded by Susquehanna from a “Positive” rating to a “Neutral” rating.
Piedmont Natural Gas (PNY) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Great Plains Energy (GXP) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
LKQ Co. (LKQX) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
Louisiana-Pacific Co. (LPX) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Brigham Exploration (BEXP) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating. They have a price target of $37.00 on the company.
El Paso Corporation (EP) was downgraded by Susquehanna from a “Positive” rating to a “Neutral” rating.
Piedmont Natural Gas (PNY) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Great Plains Energy (GXP) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
LKQ Co. (LKQX) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
Louisiana-Pacific Co. (LPX) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
Monday, October 17, 2011
Anadarko (APC) Pays BP (BP) $4 Billion
For its part in the Gulf oil spill, Anadarko Petroleum (NYSE:APC) has agreed to pay BP (NYSE:BP) $4 billion, higher than the $2.66 billion analysts had been looking for.
Also of importance for BP, Anadarko also agreed to drop its gross negligence charge against the oil giant.
Expectations are this will put pressure on Transocean (NYSE:RIG) and Halliburton (NYSE:HAL) to settle with BP.
BP will receive the $4 billion in a single cash payment. They'll apply the money towards the $20 billion compensation fund set up to pay out claims.
For its part, BP agreed to drop its $6.1 billion claim it had against Anadarko.
Mitsui, which had a 10 percent stake the Macondo oil well, already agreed to pay BP $1.1 billion.
According to Anakdarko's CEO Jim Hackett, the settlement will get rid of the "significant uncertainty regarding future liabilities and associated risks" which have weighed on the share price of the company over the last year and a half.
Also of importance for BP, Anadarko also agreed to drop its gross negligence charge against the oil giant.
Expectations are this will put pressure on Transocean (NYSE:RIG) and Halliburton (NYSE:HAL) to settle with BP.
BP will receive the $4 billion in a single cash payment. They'll apply the money towards the $20 billion compensation fund set up to pay out claims.
For its part, BP agreed to drop its $6.1 billion claim it had against Anadarko.
Mitsui, which had a 10 percent stake the Macondo oil well, already agreed to pay BP $1.1 billion.
According to Anakdarko's CEO Jim Hackett, the settlement will get rid of the "significant uncertainty regarding future liabilities and associated risks" which have weighed on the share price of the company over the last year and a half.
BP (BP) Expanding North Sea Oilfields
BP (NYSE:BP) has been given permission to invest about £4bn in the North Sea off of Shetland in order to develop a giant oil field.
British Prime Minister David Cameron supports the effort saying, "We should be looking to try and make these things happen rather than ruling them out."'
"There are some people who you will never reassure, who quite frankly would probably prefer we weren't recovering oil from any part of the North Sea. I don't think you're going to convince them," Cameron added
This follows on the news BP will be able to bid on leases in the Gulf of Mexico.
BP and CEO Bob Dudley welcomes the news after a series of international setbacks for the company after the Gulf oil spill.
Dudley said: "We have a major presence in the North Sea today, operating around 40 oil and gas fields, four onshore terminals and a network of pipelines that transport almost half of the UK's oil and gas production. And as demonstrated by these announcements, the region still offers competitive, attractive investment opportunities, which we will pursue."
BP closed Friday at $39.88, gaining $1.13, or 2.92 percent.
British Prime Minister David Cameron supports the effort saying, "We should be looking to try and make these things happen rather than ruling them out."'
"There are some people who you will never reassure, who quite frankly would probably prefer we weren't recovering oil from any part of the North Sea. I don't think you're going to convince them," Cameron added
This follows on the news BP will be able to bid on leases in the Gulf of Mexico.
BP and CEO Bob Dudley welcomes the news after a series of international setbacks for the company after the Gulf oil spill.
Dudley said: "We have a major presence in the North Sea today, operating around 40 oil and gas fields, four onshore terminals and a network of pipelines that transport almost half of the UK's oil and gas production. And as demonstrated by these announcements, the region still offers competitive, attractive investment opportunities, which we will pursue."
BP closed Friday at $39.88, gaining $1.13, or 2.92 percent.
Friday, October 14, 2011
BP (BP) Cleared to Bid on Gulf Leases
Saying BP (NYSE:BP) doesn't "have a deeply flawed record offshore," the energy giant was cleared to bid on the next round of leases offered in the Gulf of Mexico in December.
According to Michael Bromwich, who heads up the Bureau of Safety and Environmental Enforcement, it wouldn't be appropriate to keep BP from acquiring new leases to drill offshore in the Gulf.
Bromwich said this at the hearing: "The question is, 'Do you administer the administrative death penalty based on one incident?' and we've concluded that's not appropriate."
Approximately 20 million acres in the western portion of the Gulf of Mexico will be offered in a lease sale in December.
According to Michael Bromwich, who heads up the Bureau of Safety and Environmental Enforcement, it wouldn't be appropriate to keep BP from acquiring new leases to drill offshore in the Gulf.
Bromwich said this at the hearing: "The question is, 'Do you administer the administrative death penalty based on one incident?' and we've concluded that's not appropriate."
Approximately 20 million acres in the western portion of the Gulf of Mexico will be offered in a lease sale in December.
Thursday, October 13, 2011
BP (BP) (HAL) (RIG) Receive Citations
BP (NYSE:BP), Halliburton (NYSE:HAL) and Transocean (NYSE:RIG) received citations from officials for the first time, confirming the companies will ultimately be fined for the oil spill in the Gulf of Mexico.
This isn't a surprise with BP, but under normal circumstances, contractors like Halliburton and Transocean would have avoided being liable in the accident, generating consternation in the industry.
The reasoning for giving the contractors citations was a reflection of "the severity of the incident," according to the Interior Department.
BP responded to the citations against Halliburton and Transocean, which should lead to fines, saying it "makes clear that contractors, like operators, are responsible for properly conducting their deepwater drilling activities and are accountable to the U.S. government and the American public for their conduct."
What is shaking the contractor industry is that it will ultimately result in other parties claiming to be damaged to sue them, including businesses and residents in the region.
Brian Petty, an executive vice president of government affairs at the International Association of Drilling Contractors, noted it will "give a green light for others to go after them—on the same basis and on the same level."
Ultimately this could easily backfire, as insurance companies will without a doubt raise their rates, and that will be passed down across the chain, resulting in higher fuel prices for everybody.
BP has already sued Cameron International (NYSE:CAM), Transocean and Halliburton over the incident.
This isn't a surprise with BP, but under normal circumstances, contractors like Halliburton and Transocean would have avoided being liable in the accident, generating consternation in the industry.
The reasoning for giving the contractors citations was a reflection of "the severity of the incident," according to the Interior Department.
BP responded to the citations against Halliburton and Transocean, which should lead to fines, saying it "makes clear that contractors, like operators, are responsible for properly conducting their deepwater drilling activities and are accountable to the U.S. government and the American public for their conduct."
What is shaking the contractor industry is that it will ultimately result in other parties claiming to be damaged to sue them, including businesses and residents in the region.
Brian Petty, an executive vice president of government affairs at the International Association of Drilling Contractors, noted it will "give a green light for others to go after them—on the same basis and on the same level."
Ultimately this could easily backfire, as insurance companies will without a doubt raise their rates, and that will be passed down across the chain, resulting in higher fuel prices for everybody.
BP has already sued Cameron International (NYSE:CAM), Transocean and Halliburton over the incident.
Thursday, July 14, 2011
Netflix (NFLX) (LRCX) (AAPL) (BRCM) (CPB) Price Targets Changed
Netflix, Inc. (NASDAQ: NFLX), Lam Research Co. (NASDAQ: LRCX), Apple, Inc (NASDAQ: AAPL), Broadcom Corp (NASDAQ: BRCM) and Campbell Soup Company (NYSE: CPB) had price targets adjusted by analysts.
BMO Capital Markets boosted its price target on Netflix, Inc. (NFLX) to $280.00. They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) slashed its price target on Lam Research Co. (LRCX) to $55.00. They have a “Buy” rating on the company.
Citigroup (NYSE:C) raised its price target on Apple, Inc (AAPL) to $450.00. They have a “Buy” rating on the company.
Auriga lowered its price target on Broadcom Corp (NASDAQ: BRCM) from $47.00 to $41.00. They have a "Buy" rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) increased its price target on Campbell Soup Company (CPB) to $35.00.
BMO Capital Markets boosted its price target on Netflix, Inc. (NFLX) to $280.00. They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) slashed its price target on Lam Research Co. (LRCX) to $55.00. They have a “Buy” rating on the company.
Citigroup (NYSE:C) raised its price target on Apple, Inc (AAPL) to $450.00. They have a “Buy” rating on the company.
Auriga lowered its price target on Broadcom Corp (NASDAQ: BRCM) from $47.00 to $41.00. They have a "Buy" rating on the company.
JPMorgan Chase & Co. (NYSE:JPM) increased its price target on Campbell Soup Company (CPB) to $35.00.
Thursday, June 2, 2011
Ex-Dividend for (APC) (GES) (KSS) (LUV) (PDLI) (AEE) is June 6
The ex-dividend date for Ameren Corporation (NYSE:AEE) Anadarko Petroleum Corp. (NYSE:APC), Guess (NYSE:GES), Kohl's (NYSE:KSS), Southwest Airlines (NYSE:LUV) and PDL BioPharma Inc. (NASDAQ:PDLI) is June 6.
Ameren Corporation pays a dividend of $0.39 with a yield of 5.22 percent.
Anadarko Petroleum Corp. pays a dividend of $0.09 with a yield of 0.47 percent.
Guess Inc. pays a dividend of $0.20 with a yield of 2.00 percent.
Kohl's Corporation pays a dividend of $0.25 with a yield of 1.84 percent.
Southwest Airlines Company pays a dividend of $0.02 with a yield of 0.20 percent.
PDL BioPharma Inc. pays a dividend of $0.15 with a yield of 9.27 percent.
Ameren Corporation pays a dividend of $0.39 with a yield of 5.22 percent.
Anadarko Petroleum Corp. pays a dividend of $0.09 with a yield of 0.47 percent.
Guess Inc. pays a dividend of $0.20 with a yield of 2.00 percent.
Kohl's Corporation pays a dividend of $0.25 with a yield of 1.84 percent.
Southwest Airlines Company pays a dividend of $0.02 with a yield of 0.20 percent.
PDL BioPharma Inc. pays a dividend of $0.15 with a yield of 9.27 percent.
Wednesday, June 1, 2011
BP (BP) (RDS-A) (JKS) (LDK) (LECO) Get Ratings, Price Target Changes
Ratings and/or price targets on shares of BP (NYSE:BP), Royal Dutch Shell (NYSE:RDS.A), JinkoSolar Holding Co., Ltd. (NYSE: JKS), LDK Solar (NYSE: LDK) and Lincoln Electric Holdings Inc (NASDAQ: LECO) were initiated or changed by analysts.
RBC Capital initiated coverage on BP (BP), starting them off with an "Outperform" rating.
Royal Dutch Shell (RDS.A) was initiated with a "Top Pick" rating at RBC Capital Markets.
Collins Stewart cut their price target on JinkoSolar Holding Co., Ltd. (JKS) from $38.00 to $34.50. They have a “buy” rating on the company.
Kaufman Brothers downgraded LDK Solar (LDK) from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $24.00.
Longbow Research upgraded Lincoln Electric Holdings Inc (LECO) from a “neutral” rating to a “buy” rating. They have a price target of $92.00 on the company.
RBC Capital initiated coverage on BP (BP), starting them off with an "Outperform" rating.
Royal Dutch Shell (RDS.A) was initiated with a "Top Pick" rating at RBC Capital Markets.
Collins Stewart cut their price target on JinkoSolar Holding Co., Ltd. (JKS) from $38.00 to $34.50. They have a “buy” rating on the company.
Kaufman Brothers downgraded LDK Solar (LDK) from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $24.00.
Longbow Research upgraded Lincoln Electric Holdings Inc (LECO) from a “neutral” rating to a “buy” rating. They have a price target of $92.00 on the company.
Friday, May 27, 2011
Petrobras (PBR) (APC) (RIG) (RDS-A) (CAM) Jump While Oil Futures Pull Back
Petrobras (NYSE:PBR), Anadarko (NYSE:APC), Transocean (NYSE:RIG), Royal Dutch Shell (NYSE:RDS-A) and Cameron International (NYSE:CAM) all closed up Thursday, bucking the trend of oil futures pulling back after climbing over $101 a barrel on Wednesday.
Obama's economy continues to crumble as first-time unemployment claims surged by close to 10,000, exploding past the anticipated decline of 4,000 economists had been expecting. That is a seasonally adjusted 424,000 for the week ended May 21.
The U.S. economy growth rate was also worst than expected, growing at a very weak 1.8 percent rate in the first quarter, falling from the 3.1 percent growth rate in the fourth quarter, and missing the 2.2 percent growth rate economists had projected.
The U.S. Labor Department also upwardly revised initial unemployment claims from the last report they issued.
All of this had an impact on oil prices, as oil futures ended lower Thursday. Light, sweet crude for July delivery settled down $1.09, or 1.1 percent, to $100.23 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled up 12 cents, or 0.1 percent, to $115.05 a barrel.
Front-month June reformulated gasoline blendstock, settled up 3.21 cents, or 1.1 percent, to $3.0483 a gallon. June heating oil was up 0.26 cent, or 0.1 percent, to $2.9829 a gallon.
With the Memorial Day weekend coming in the U.S., which usually involves heavy travel and usage of gasoline in vehicles, it probably counteracted the slightly lower price of oil and gas heading into the summer season.
Petrobras closed Thursday at $34.15, gaining $0.50, or 1.49 percent. Cameron International closed at $48.33, up $0.56, or 1.17 percent. Royal Dutch Shell soared to $70.28, surging $1.27, or 1.84 percent. Transocean ended the session at $69.36, rising $0.30, or 0.43 percent. Anadarko closed at $77.89, up $0.67, or 0.87 percent.
Obama's economy continues to crumble as first-time unemployment claims surged by close to 10,000, exploding past the anticipated decline of 4,000 economists had been expecting. That is a seasonally adjusted 424,000 for the week ended May 21.
The U.S. economy growth rate was also worst than expected, growing at a very weak 1.8 percent rate in the first quarter, falling from the 3.1 percent growth rate in the fourth quarter, and missing the 2.2 percent growth rate economists had projected.
The U.S. Labor Department also upwardly revised initial unemployment claims from the last report they issued.
All of this had an impact on oil prices, as oil futures ended lower Thursday. Light, sweet crude for July delivery settled down $1.09, or 1.1 percent, to $100.23 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled up 12 cents, or 0.1 percent, to $115.05 a barrel.
Front-month June reformulated gasoline blendstock, settled up 3.21 cents, or 1.1 percent, to $3.0483 a gallon. June heating oil was up 0.26 cent, or 0.1 percent, to $2.9829 a gallon.
With the Memorial Day weekend coming in the U.S., which usually involves heavy travel and usage of gasoline in vehicles, it probably counteracted the slightly lower price of oil and gas heading into the summer season.
Petrobras closed Thursday at $34.15, gaining $0.50, or 1.49 percent. Cameron International closed at $48.33, up $0.56, or 1.17 percent. Royal Dutch Shell soared to $70.28, surging $1.27, or 1.84 percent. Transocean ended the session at $69.36, rising $0.30, or 0.43 percent. Anadarko closed at $77.89, up $0.67, or 0.87 percent.
Thursday, May 26, 2011
Chevron's (CVX) Downstream Business Unimpressive
The fact that Chevron (NYSE:CVX) had its "Buy" rating from Jefferies (NYSE:JEF) reiterated on them today isn't because of its downstream refinery business, as margins are anemic in comparison to its upstream oil and natural gas production business.
That's not to say there isn't substantial revenue in the refined products business of Chevron, as the company could have sold as much as $100 billion in refined products in 2010, although it doesn't release those figures.
Among refinded products sold are gasoline, jet fuel, gas oil and kerosene, among other products.
Estimates are refined products make up about 8 percent of the overall stock value of Chevron, mostly because of the low margin business it is. Margins have been at about 2.33 percent in the refined business for the energy giant for 2010.
In contrast, the oil and natural gas production generates margins of 53 percent.
The leading refined product sold by far was gasoline, which accounted for close to $39 billion in revenue in the segment.
Among Chevron's major competitors are BP (NYSE:BP), Exxon Mobil (NYSE:XOM), Halliburton (NYSE:HAL) and ConocoPhillips (NYSE:COP).
Chevron was trading at $103.57, up $0.32, or 0.31 percent, as of 2:05 PM EDT.
That's not to say there isn't substantial revenue in the refined products business of Chevron, as the company could have sold as much as $100 billion in refined products in 2010, although it doesn't release those figures.
Among refinded products sold are gasoline, jet fuel, gas oil and kerosene, among other products.
Estimates are refined products make up about 8 percent of the overall stock value of Chevron, mostly because of the low margin business it is. Margins have been at about 2.33 percent in the refined business for the energy giant for 2010.
In contrast, the oil and natural gas production generates margins of 53 percent.
The leading refined product sold by far was gasoline, which accounted for close to $39 billion in revenue in the segment.
Among Chevron's major competitors are BP (NYSE:BP), Exxon Mobil (NYSE:XOM), Halliburton (NYSE:HAL) and ConocoPhillips (NYSE:COP).
Chevron was trading at $103.57, up $0.32, or 0.31 percent, as of 2:05 PM EDT.
BP (BP) (MRO) (RDS-A) End Positive on $100 Oil
Shares of BP (NYSE:BP), Marathon Oil (NYSE:MRO) and Shell (NYSE:RDS-A) ended the session up as oil prices gained the $100 a barrel mark for the first time this week.
Light sweet crude oil for July delivery was up $1.73 to settle at $101.32 a barrel and July Brent crude jumped $2.40 to settle at $114.93.
Also aiding oil prices was a Department of Energy report on Wednesday saying U.S. commercial crude inventories climbed 600,000 barrels in the week ended May 20 versus an expected 1.3 million barrel fall in crude stocks.
Gasoline inventories rose 3.8 million barrels last week versus an estimated 300,000 barrel jump.
Marathon closed Wednesday at $52.76, gaining $0.88, or 1.70 percent. Royal Dutch Shell closed at $69.01, up $0.33, or 0.48 percent. BP ended the day at $44.71, rising $0.34, or 0.77 percent.
Light sweet crude oil for July delivery was up $1.73 to settle at $101.32 a barrel and July Brent crude jumped $2.40 to settle at $114.93.
Also aiding oil prices was a Department of Energy report on Wednesday saying U.S. commercial crude inventories climbed 600,000 barrels in the week ended May 20 versus an expected 1.3 million barrel fall in crude stocks.
Gasoline inventories rose 3.8 million barrels last week versus an estimated 300,000 barrel jump.
Marathon closed Wednesday at $52.76, gaining $0.88, or 1.70 percent. Royal Dutch Shell closed at $69.01, up $0.33, or 0.48 percent. BP ended the day at $44.71, rising $0.34, or 0.77 percent.
Wednesday, May 25, 2011
Quicksilver Resources (KWK) Gets Rating Boost from MLV Capital
Analysts at McNicoll Lewis & Vlak Capital raised their rating on Quicksilver Resources Inc (NYSE: KWK) from a "Hold" to a "Buy," with a price target of $17.50 on the company.
"We recently met with management of Quicksilver Resources, and feel confident that 2011 is a year of transition for the Company. As we review our RNAV, we believe KWK shares are getting zero value for its potentially game changer frontier projects. With its take-private efforts now concluded, management is newly focused on getting recognition for the value not recognized in the share price," said MLV.
Much of Quicksilver's outlook is connected to production at its projects in Barnett Shale, located in Texas, where the company recently reported it produced 318.6 million cubic feet of natural gas equivalents per day from its Barnett Shale assets in the first quarter of the year.
Overall in the first quarter of 2011 it produced 392.3 million cubic feet of natural gas equivalents per day from all its properties.
Quicksilver was trading at $14.25, up $0.27, or 1.93 percent, as of 1:11 PM EDT.
"We recently met with management of Quicksilver Resources, and feel confident that 2011 is a year of transition for the Company. As we review our RNAV, we believe KWK shares are getting zero value for its potentially game changer frontier projects. With its take-private efforts now concluded, management is newly focused on getting recognition for the value not recognized in the share price," said MLV.
Much of Quicksilver's outlook is connected to production at its projects in Barnett Shale, located in Texas, where the company recently reported it produced 318.6 million cubic feet of natural gas equivalents per day from its Barnett Shale assets in the first quarter of the year.
Overall in the first quarter of 2011 it produced 392.3 million cubic feet of natural gas equivalents per day from all its properties.
Quicksilver was trading at $14.25, up $0.27, or 1.93 percent, as of 1:11 PM EDT.
Exxon (XOM) (BP) (COP) Close Up on Oil Price Outlook
Shares of oil companies like Exxon Mobil (NYSE:XOM), BP (NYSE:BP) and ConocoPhillips all closed up Tuesday as analysts boosted their outlook on the price of Brent crude.
Morgan Stanley (NYSE:MS) increased its Brent crude projection, noting stronger demand and supply problems related to Libyan production. The brokerage lifted its 2011 Brent crude price projection from $100 to $120 a barrel a barrel and its 2012 projection from $105 to $130.
JP Morgan (NYSE:JPM) reiterated its Brent crude price estimate of $130 in the third-quarter of 2011.
Goldman Sachs (NYSE:GS) raised it projection for Brent crude from $105 to $120 a barrel for 2011, and for 2012 from $120 to $140 a barrel.
BP closed Tuesday at $44.37, jumping $0.34, or 0.77 percent. ConocoPhillips closed at $71.91, up $0.58, or 0.81 percent. Exxon ended the session at $81.29, rising $0.62, or 0.77 percent.
Morgan Stanley (NYSE:MS) increased its Brent crude projection, noting stronger demand and supply problems related to Libyan production. The brokerage lifted its 2011 Brent crude price projection from $100 to $120 a barrel a barrel and its 2012 projection from $105 to $130.
JP Morgan (NYSE:JPM) reiterated its Brent crude price estimate of $130 in the third-quarter of 2011.
Goldman Sachs (NYSE:GS) raised it projection for Brent crude from $105 to $120 a barrel for 2011, and for 2012 from $120 to $140 a barrel.
BP closed Tuesday at $44.37, jumping $0.34, or 0.77 percent. ConocoPhillips closed at $71.91, up $0.58, or 0.81 percent. Exxon ended the session at $81.29, rising $0.62, or 0.77 percent.
Tuesday, May 24, 2011
Kinder Morgan (KMP) Gets Fueled by Janney Montgomery Scott
Analysts from Janney Montgomery Scott gave some fuel to Kinder Morgan Energy Partners LP (NYSE: KMP), initiating coverage on them with a "Buy" rating.
The "Buy" rating did little for Kinder Morgan Monday, as the market wasn't too interested in the company, with volume down almost 20 percent from the 3-month daily average.
The stock also traded in a tight range of $72.71 - $73.36.
Shares of Kinder Morgan closed down Monday at $73.19, dropping $0.31, or 0.42 percent. In after hours trading the company took some more damage, falling another $0.30 a share, to $72.89.
Kinder Morgan Energy Partners, L.P. owns and participates in the management of energy transportation and storage assets.
The "Buy" rating did little for Kinder Morgan Monday, as the market wasn't too interested in the company, with volume down almost 20 percent from the 3-month daily average.
The stock also traded in a tight range of $72.71 - $73.36.
Shares of Kinder Morgan closed down Monday at $73.19, dropping $0.31, or 0.42 percent. In after hours trading the company took some more damage, falling another $0.30 a share, to $72.89.
Kinder Morgan Energy Partners, L.P. owns and participates in the management of energy transportation and storage assets.
Saturday, March 12, 2011
More Domestic Oil Drilling Needed Say Republicans
The United States is too reliant on foreign oil and should expand domestic drilling, Sen. Lisa Murkowski, R-Alaska, said in the party's weekly address Saturday.
The average price for a gallon of regular gas in the country has risen by 40 cents to $3.50 in the past month, and Murkowski, the lead Republican member of the Senate Energy and Natural Resources Committee, said President Barack Obama's Democrats needed to take action.
"If energy prices keep climbing, our nation could slip back into recession just as we're finally emerging from the last one," Murkowski said.
She called for a loosening of a moratorium on deep-water drilling Obama imposed after last year's Gulf of Mexico oil spill.
"America now imports 11 million barrels of oil every day," she said. "Last year alone, we spent more than $330 billion on foreign oil, much of it in countries that are not our friends.
"Republicans know that it's past time to produce more of America's oil."
Source
The average price for a gallon of regular gas in the country has risen by 40 cents to $3.50 in the past month, and Murkowski, the lead Republican member of the Senate Energy and Natural Resources Committee, said President Barack Obama's Democrats needed to take action.
"If energy prices keep climbing, our nation could slip back into recession just as we're finally emerging from the last one," Murkowski said.
She called for a loosening of a moratorium on deep-water drilling Obama imposed after last year's Gulf of Mexico oil spill.
"America now imports 11 million barrels of oil every day," she said. "Last year alone, we spent more than $330 billion on foreign oil, much of it in countries that are not our friends.
"Republicans know that it's past time to produce more of America's oil."
Source
Monday, January 10, 2011
Carrizo Oil & Gas (NASDAQ:CRZO) Struggling with Barnett Shale
Carrizo Oil & Gas (NASDAQ:CRZO) looks like it is priced where it should be, according to Wells Fargo (NYSE:WFC), who says they face ongoing challenges in the Barnett.
Wells said, "It may be short term, but currently clouding our view of the company’s ability to execute are infrastructure and takeaway challenges in the Barnett, but more importantly in the Eagle Ford. At the current share price, we believe the market has priced in a fair value for the Eagle Ford and Niobrara upside and that a better risk/reward can likely be found in other names."
Wells downgraded Carrizo Oil & Gas from "Outperform" to "Market Perform." Carrizo closed Friday at $33.16, losing $1.04, or 3.04 percent.
Carrizo is trading close to its 52-week high of $34.98.
Wells said, "It may be short term, but currently clouding our view of the company’s ability to execute are infrastructure and takeaway challenges in the Barnett, but more importantly in the Eagle Ford. At the current share price, we believe the market has priced in a fair value for the Eagle Ford and Niobrara upside and that a better risk/reward can likely be found in other names."
Wells downgraded Carrizo Oil & Gas from "Outperform" to "Market Perform." Carrizo closed Friday at $33.16, losing $1.04, or 3.04 percent.
Carrizo is trading close to its 52-week high of $34.98.
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