Wells Fargo (NYSE:WFC) took an overall look at the MLPs industry, including Gathering & Processing MLPs' Chesapeake Midstream (Nasdaq:CHKM), DCP Midstream (NYSE:DPM), Regency Energy Partners, L.P. (Nasdaq:RGNC), Western Gas Partners (NYSE:WES), and Crosstex Energy (Nasdaq:XTEX), and lowering our estimates for Atlas Pipeline (NYSE:APL), Copano Energy (Nasdaq:CPNO), MarkWest Energy (NYSE:MWE), and Targa Resources (NYSE:NGLS).
Here's how sized up the group of companies in general: "We are updating our models to reflect actual commodity prices in Q3’10, our revised commodity price deck, and the impact of recent acquisitions/financings. For 2010, we are lowering our DCF per unit estimates by an average of 1%. For 2011, we are raising our DCF per unit estimates for Chesapeake Midstream, DCP Midstream, RGNC, Western Gas Partners, and Crosstex Energy, and lowering our estimates for Atlas Pipeline, Copano Energy, MarkWest Energy, and NGLS."
Their favorite pick in the subsector, is Regency Energy Partners, L.P.
Targa closed Thursday at $28.66, down $0.81, or 2.76 percent. Chesapeake Midstream was slightly lower at $27.08, losing $0.03, or 0.11 percent. DCP Midstream fell to $35.34, dropping $0.44, or 1.23 percent. Regency closed at $24.75, losing $0.17, or 0.68 percent. Western Gas Partners lost $0.33, closing at $28.79, down 1.13 percent. Crosstex Energy closed at just above level, gaining a penny, or 0.07 percent. Atlas Pipeline Partners ended the session at $19.49, falling $0.34, or 1.71 percent. Copano Energy also closed a little above level, gaining $0.04, or 0.14 percent. MarkWest Energy decreased to $38.05 on the day, falling $0.35, or 0.91 percent. Targa ended the trading day at $28.66, losing $0.81, or 2.76 percent.
Showing posts with label Nasdaq. Show all posts
Showing posts with label Nasdaq. Show all posts
Friday, October 15, 2010
Tuesday, August 24, 2010
Oil Futures Trading Plummets: Investors Ditching Oil Stocks
"Concerns over the strength of the global recovery, combined with a stronger dollar, have placed downward pressure on oil," according to analysts at Action Economics. Crude Oil Futures continue to plummet, today falling below $72 a barrel. The cause, mounting worry and concern about the global recovery pace.
In morning trading, The Dow Jones Industrial Average dropped over 100 points. While broader Indexes also saw a decline of over 1 percent. Investors are ditching oil stocks and going back into the safety of the Treasury bond market. The looming concern is that because of the slow recovery, which could push the economy back into a recession.
The Dow Jones slid 103.83 or 1 percent to 10,074.06. While The Standard and Poor 500 Index also declined to 11.60 or 1.1. percent to 1,055.76. The Nasdaq Composite Index dropped 25.52 or 1.2 percent bringing it to 1,786.79. For every one stock that rose on the New York Stock exchange, 10 fell.
Phil Flynn, PFG Best analyst said, "Just when it seems oil is going to rally on strong economic optimism, it gets crushed with the realty of gluttonous supply. When it gets ready to fall apart, like in the emergence of the latest chapter in the economic crisis, some central bank supports it with a flood of printed money."
In morning trading, The Dow Jones Industrial Average dropped over 100 points. While broader Indexes also saw a decline of over 1 percent. Investors are ditching oil stocks and going back into the safety of the Treasury bond market. The looming concern is that because of the slow recovery, which could push the economy back into a recession.
The Dow Jones slid 103.83 or 1 percent to 10,074.06. While The Standard and Poor 500 Index also declined to 11.60 or 1.1. percent to 1,055.76. The Nasdaq Composite Index dropped 25.52 or 1.2 percent bringing it to 1,786.79. For every one stock that rose on the New York Stock exchange, 10 fell.
Phil Flynn, PFG Best analyst said, "Just when it seems oil is going to rally on strong economic optimism, it gets crushed with the realty of gluttonous supply. When it gets ready to fall apart, like in the emergence of the latest chapter in the economic crisis, some central bank supports it with a flood of printed money."
Wednesday, June 23, 2010
Stock Prices, Crude Oil Futures: Chevron (NYSE:CVX), Halliburton (NYSE:HAL), Exxon (NYSE:XOM),
Stock prices in energy see a dramatic decline in Chevron (NYSE:CVX), Halliburton (NYSE:HAL), and Exxon (NYSE:XOM). This drop was seen after the White House stated they planned to immediately appeal a decision made by a judge in Louisiana to stop the moratorium banning any new drilling for six months.
Exxon Mobil dropped 1.9 percent to 61.94. While Chevron seen a decline of 2.3 percent taking them to 74. Then there Halliburton which slid 3.9 percent to 25.99.
Ben Halliburton, chief investment officer at Tradition Capital Management said, "it's a big negative for the industry if the moratorium is not lifted. Clearly, the companies impacted are going to have negative revisions on their earnings and their cash flows if they're involved in the deepwater Gulf."
The Nasdaq dropped 1.19 percent to 2261.80. While the Standard and Poors 500 saw a decline of 1.61 percent to 1095.31. All sectors of the S&P ended in the red lead by energy. The Dow Jones fell 1.43 percent to 10293.52, there largest one day loss since June 4th.
Exxon Mobil dropped 1.9 percent to 61.94. While Chevron seen a decline of 2.3 percent taking them to 74. Then there Halliburton which slid 3.9 percent to 25.99.
Ben Halliburton, chief investment officer at Tradition Capital Management said, "it's a big negative for the industry if the moratorium is not lifted. Clearly, the companies impacted are going to have negative revisions on their earnings and their cash flows if they're involved in the deepwater Gulf."
The Nasdaq dropped 1.19 percent to 2261.80. While the Standard and Poors 500 saw a decline of 1.61 percent to 1095.31. All sectors of the S&P ended in the red lead by energy. The Dow Jones fell 1.43 percent to 10293.52, there largest one day loss since June 4th.
Monday, June 14, 2010
Stock Prices, Crude Oil Futures: Exxon (NYSE:XOM) and Chevron (NYSE:CVX)
There was a jump in U.S. stock prices in crude oil futures, including Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), this is the biggest gain the S&P 500 has seen since March.
Exxon Mobil as well as Chevron both saw a significant rise. Exxon, the largest U.S. energy company, saw a 0.5 percent rise to $62.17 pushing crude oil to over $75 a barrel in New York. Chevron, the second largest U.S. energy company rose 0.4 percent to $74.33. The S&P 500 rose 0.8 percent to 1,099.82. The Dow Jones Industrial Average also saw an incline of 0.7 percent, or 74.37 points bringing it to 10,285.44. While the Nasdaq rose 18.44 points or 0.8 percent to 2,262.04.
David Katz, chief investment officer at Matrix Asset Advisors Incorporated in New York, stated, "the recent sell off was based on fear, but the U.S. economy is very much intact and it seems like the European economies are muddling through. On days when there are no concerns or fear mongering, the market should get a bounce like we saw last week and it continues today."
The New York Stock Exchange Arca Oil Index was gaining 1.1 percent and the Philadelphia Oil Service Sector Index adding 1 percent.
Exxon Mobil as well as Chevron both saw a significant rise. Exxon, the largest U.S. energy company, saw a 0.5 percent rise to $62.17 pushing crude oil to over $75 a barrel in New York. Chevron, the second largest U.S. energy company rose 0.4 percent to $74.33. The S&P 500 rose 0.8 percent to 1,099.82. The Dow Jones Industrial Average also saw an incline of 0.7 percent, or 74.37 points bringing it to 10,285.44. While the Nasdaq rose 18.44 points or 0.8 percent to 2,262.04.
David Katz, chief investment officer at Matrix Asset Advisors Incorporated in New York, stated, "the recent sell off was based on fear, but the U.S. economy is very much intact and it seems like the European economies are muddling through. On days when there are no concerns or fear mongering, the market should get a bounce like we saw last week and it continues today."
The New York Stock Exchange Arca Oil Index was gaining 1.1 percent and the Philadelphia Oil Service Sector Index adding 1 percent.
Friday, June 11, 2010
Current Stock Prices Dropping: Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX)
As we've watched many of the oil companies stock drop, Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) are also seeing current stock prices dropping today. The oil and gas industry as a whole is in a downtrend.
Exxon has seen a decline of 0.6 percent bringing it to $61.32. The Dow Jones Industrial Average is also down 31 points or 0.3 percent lower to 10,141. This downward trend is seen on the S&P 500 as well, losing 0.3 percent to 1,079. Seeing an increase is the Nasdaq Composite Index of 0.2 percent.
Crude oil futures fell below $74.00 a barrel causing a decline in energy stocks, as well as the Exxon decline Chevron also dropped 1 percent.
"People are seeing that the economy isn't booming, but it's also not getting worse," said Malcom Polly, chief investment officer at Stewart Capital Advisors. "That's why the confidence numbers are getting a little better. But actual spending still isn't strong enough where we can say that we'll get a traditional consumer led recovery."
Exxon has seen a decline of 0.6 percent bringing it to $61.32. The Dow Jones Industrial Average is also down 31 points or 0.3 percent lower to 10,141. This downward trend is seen on the S&P 500 as well, losing 0.3 percent to 1,079. Seeing an increase is the Nasdaq Composite Index of 0.2 percent.
Crude oil futures fell below $74.00 a barrel causing a decline in energy stocks, as well as the Exxon decline Chevron also dropped 1 percent.
"People are seeing that the economy isn't booming, but it's also not getting worse," said Malcom Polly, chief investment officer at Stewart Capital Advisors. "That's why the confidence numbers are getting a little better. But actual spending still isn't strong enough where we can say that we'll get a traditional consumer led recovery."
Monday, June 7, 2010
Futures Trading, Stock Prices: Exxon Mobil (NYSE:XOM), BP (NYSE:BP)
BP (NYSE:BP) shares rose 2.8 percent, as well as Exxon Mobil's (NYSE:XOM) shares rising 0.37 percent. This stock price increase is believed to be because of BP's success in their recent fuel oil containment attempt. BP says that the cap that was put onto the leaking pipe, continues to capture the spewing oil and they're expecting to increase the amount collected as the week progresses. In energy trading, oil futures were down to $71.46 a barrel, a 5 cent loss.
As of 10:08 AM in New York trading, the Standard & Poors 500 index saw an increase of 0.4 percent to 1,068.68. This was after a drop in futures trading declined as much as 1.3 percent before the opening of the U.S. stock exchange. This was after S&P 500 saw a 3.4 percent drop on June 4th. The Dow Jones Industrial Average futures saw an increase of 13 points, to 9959.00. The Nasdaq 100 futures rose to 1839.50, seeing an increase of 5.25 points.
Stanley Nabi, Vice Chairman of the New York based Silvercrest Asset Management group, in charge of managing $9 billion said, "I still see a choppy stock market of small gains and losses. We see some buying today after all, how much can you keep on beating the market ? Investors just need to have more conviction. But that's probably not going to happen until we see strong second quarter earnings."
As of 10:08 AM in New York trading, the Standard & Poors 500 index saw an increase of 0.4 percent to 1,068.68. This was after a drop in futures trading declined as much as 1.3 percent before the opening of the U.S. stock exchange. This was after S&P 500 saw a 3.4 percent drop on June 4th. The Dow Jones Industrial Average futures saw an increase of 13 points, to 9959.00. The Nasdaq 100 futures rose to 1839.50, seeing an increase of 5.25 points.
Stanley Nabi, Vice Chairman of the New York based Silvercrest Asset Management group, in charge of managing $9 billion said, "I still see a choppy stock market of small gains and losses. We see some buying today after all, how much can you keep on beating the market ? Investors just need to have more conviction. But that's probably not going to happen until we see strong second quarter earnings."
Monday, May 17, 2010
Exxon Mobil's (NYSE:XOM) Stock Continues To Fall
In German Trading, Exxon Mobil's (NYSE:XOM) stock continues to fall. With crude oil dropping below $70 a barrel in New York, this is the fifth day it has plummeted.
The biggest U.S. oil company, Exxon has dropped to $63.06 in German trading, that's a 0.8 percent loss. The third largest energy company, ConocoPhillips is at $55,32, losing 0.9 percent. The largest U.S. aluminum producer Alcoa, has also dropped to $12.14 losing 1.8 percent.
Dow Jones Industrial average dropped 0.1 percent to 10,600. Nasdaq - 100 Index futures also fell less than 0.1 percent bringing it to 1,909.5.
The euro dropped today to the lowest level in over four years against the dollar. The currency was traded for as low as $1.2235. In Brussels, the European finance ministers will meet today.
They are under pressure to show how they are planning to reduce deficits quickly enough to satisfy investors.
The biggest U.S. oil company, Exxon has dropped to $63.06 in German trading, that's a 0.8 percent loss. The third largest energy company, ConocoPhillips is at $55,32, losing 0.9 percent. The largest U.S. aluminum producer Alcoa, has also dropped to $12.14 losing 1.8 percent.
Dow Jones Industrial average dropped 0.1 percent to 10,600. Nasdaq - 100 Index futures also fell less than 0.1 percent bringing it to 1,909.5.
The euro dropped today to the lowest level in over four years against the dollar. The currency was traded for as low as $1.2235. In Brussels, the European finance ministers will meet today.
They are under pressure to show how they are planning to reduce deficits quickly enough to satisfy investors.
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