|Bid||60.62 x 1200|
|Ask||60.78 x 1100|
|Day's Range||60.13 - 61.22|
|52 Week Range||50.13 - 80.24|
|Beta (3Y Monthly)||0.80|
|PE Ratio (TTM)||9.81|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||1.22 (2.03%)|
|1y Target Est||74.32|
Saudi Aramco, the state-run oil conglomerate of Saudi Arabia, has replaced its chairman as it gears up for an IPO after plans to go public faltered last year. Aramco has named Public Investment Fund head Yasir Al-Rumayyan, a known ally and a key adviser of Crown Prince Mohammed Bin Salman.
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, ConocoPhillips, Valero Energy and Phillips 66
Crude traded below $60 a barrel as investors also weighed the prospect of an earlier-than-expected recovery in state-run Saudi Aramco's affected production.
Oil stocks have been put through the volatility wringer of late.On Sept. 14, drones attacked a key processing facility in Abqaiq as well as an oil field in Khurais, temporarily knocking out about 5.7 million barrels of Saudi daily production. That represents half of Saudi Arabia's output and approximately 5% of global oil supply, so unsurprisingly, the news sent U.S. crude oil prices soaring by almost 15% on Sept. 16 - the largest gain in more than 30 years.But a day later, oil pulled back nearly 6% following Saudi Energy Minister Prince Abdulaziz bin Salman's announcement that the country's oil production will be back at normal levels by the end of September. Crude closed another 2% lower Sept. 18.Was this merely a quick flash in the pan for energy investors? Maybe. But heightened regional tensions still could bode well for oil prices in the coming months. And Citi analysts argue that the attacks highlight a fundamental problem for the kingdom's oil production. "No matter whether it takes Saudi Arabia five days or a lot longer to get oil back into production, there is but one rational takeaway from this weekend's drone attacks on the Kingdom's infrastructure - that infrastructure is highly vulnerable to attack, and the market has been persistently mispricing oil," they write.Here are seven analyst-loved oil stocks to buy in this volatile energy environment. Here, we've used TipRanks' stock screener to find energy stocks that have earned a Strong Buy consensus rating from the analyst community over the past three months. We'll examine each one, including price targets and what the pros are saying about their potential. SEE ALSO: 25 Dividend Stocks That Analysts Love the Most
A new factory in Houston will boost production of Modumetal's rust-busting coatings for fasteners used in the oil and gas sector. The companies are also eyeing expansion to the construction and automotive markets.
The Zacks Analyst Blog Highlights: Chevron, Walmart, ConocoPhillips, TransDigm and Phillips 66 Partners
Investors’ fears about its oil inventory are misplaced, UBS analyst Lloyd Byrne said. “The Eagle Ford can sustain growth for the next decade plus, while the Bakken can sustain flat production for a decade plus.”
While EIA reports the fourth straight weekly inventory decline, crude prices fall after OPEC cut its forecast for oil demand growth this year and next.
A World Bank arbitration panel lowered an initial $8.7 billion award to U.S. oil company ConocoPhillips as compensation for Venezuela's 2007 expropriation of its assets to $8.5 billion, according to a decision dated Aug. 29 posted online. The new award will represent savings of $200 million from the first award in April, Venezuelan opposition leader Juan Guaido's overseas legal representative said on Twitter on Monday. A ConocoPhillips spokesman said the rectification lowered the award by $227 million and that the company "does not challenge" the action.
Details the 52-week lows of the following companies: Altria Group, ConocoPhillips, Simon Property Group, Bank of New York Mellon, Occidental Petroleum and Carnival Corp Continue reading...
East Timor is looking to real in some serious upstream investment from China in order to develop its potentially $50 billion in oil & gas reserves
Liquefied natural gas producer ConocoPhillips announced new production sharing contracts with East Timor for the ageing Bayu Undan gas field on Saturday, following the implementation of a new maritime border with Australia. The gas condensate deposit in the Timor Sea, 250 km (155 miles) south of East Timor and 500 km (311 miles) north of Australia, now falls within the small Pacific nation's jurisdiction, after it ratified the Maritime Boundary Treaty on Friday.
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, ConocoPhillips, Valero Energy and Marathon Petroleum
The decline in oil inventories was the largest in the U.S.in five weeks, and came in tandem with a fall in gasoline and distillate supplies.