|Bid||12.75 x 1000|
|Ask||14.60 x 900|
|Day's Range||13.82 - 14.18|
|52 Week Range||7.55 - 14.98|
|Beta (3Y Monthly)||2.61|
|PE Ratio (TTM)||29.02|
|Forward Dividend & Yield||0.05 (0.37%)|
|1y Target Est||13.77|
In this series, we’ve examined Total’s (TOT) third-quarter estimates, segmental earnings outlook, stock performance, and dividend yield. We also reviewed Total’s stock forecast range for the ten-day period until its earnings release scheduled on October 26. Now, we’ll examine analysts’ ratings for Total.
The last 24 concessions the U.S. giant bought with its partners may hold 41 billion barrels, based on preliminary studies, according to Eliane Petersohn, a superintendent at Brazil’s National Petroleum Agency, or ANP. While the existence of the oil still needs to be confirmed, along with whether its extraction will be cost-effective, it’s a huge figure -- almost double Exxon’s current reserves. “When you do the cumulative effect of all of those multibillion-barrel targets, then you come up with quite a material resource out there that has the capability to produce at very large volumes,” Stephen Greenlee, Exxon’s president of exploration, said in an interview in Houston on Wednesday.
China National Petroleum Corporation (CNPC) is advancing a strategic partnership with Brazil’s Petrobras and agreed to cooperate with Norway’s Equinor in oil and gas projects
Suncor Energy’s (SU) short interest as a percentage of its outstanding shares has fallen from 0.42% on July 2 to its current level of 0.28%, implying that the bearish sentiment in the stock has decreased. However, in the same period, Suncor stock has fallen 11.9%.
Chevron (CVX) is selling its interests in Norway, while Petrobras (PBR) entered into a strategic joint venture with Murphy Oil Corporation (MUR) in the Gulf of Mexico.
Brazilian state-run oil firm Petroleo Brasileiro SA and China National Petroleum Corp Ltd have signed an agreement to study the economic viability of completing construction of the Comperj refinery in Rio de Janeiro, another step in the Chinese government getting a refining foothold in the Americas. Petrobras, as the firm is commonly known, said on Tuesday that once the studies are completed, the two parties aim to form a joint venture to complete the refinery. Petrobras would own 80 percent and a CNPC subsidiary, China National Oil and Gas Exploration and Development Co (CNODC), would own 20 percent.
Brazil's state-controlled oil company Petroleo Brasileiro SA expects to revive the sale of its pipeline operator TAG over the next month, if it can get a Supreme Court injunction lifted, with the support of the country's solicitor-general, a person with knowledge of the matter said. In July, Petrobras, as the oil company is known, was wrapping up exclusive talks with France's Engie SA when the process was blocked by a Supreme Court injunction ordering asset sales by state companies be approved by Congress.
The current bidding war for a Brazilian gas pipeline system is a reminder of how good this infrastructure company is at making value-creating acquisitions.
On October 5–12, midstream stock Antero Midstream Partners LP (AM) gained the most on our list of energy stocks. The Alerian MLP ETF (AMLP), the smallest decline among major energy subsector ETFs, fell 2.4%. On October 9, Antero Midstream Partners LP announced that “they have entered into a definitive agreement for Antero Midstream GP LP (NYSE: AMGP) (“AMGP”) to acquire all outstanding AM common units, both those held by the public and those held by Antero Resources, in a stock and cash transaction.”
Petroleo Brasileiro SA is now finalizing terms with Engie and the Canadian fund, Caisse de Depot et Placement du Quebec, the people said, asking not to be named because the talks are private. Petrobras then plans to touch base with other groups for a second round of bids that must meet the terms agreed to with Engie.
Engie SA and a Canadian pension fund plan to offer as much as $9 billion for Petrobras' natural gas pipeline network.
Engie SA and a Canadian pension fund plan to offer as much as $9 billion for Petrobras' natural gas pipeline network, according to people with knowledge of the matter.
The top economic adviser to Brazilian far-right presidential front-runner Jair Bolsonaro said he favors selling off some of the power generation assets of utility company Centrais Eletricas Brasileiras S.A. , raising new contradictions in the candidate's policy team. Shares of the company, known as Eletrobras, soared following the clear lead Bolsonaro took in Sunday's first-round vote, but then tumbled 13 percent on Wednesday when Bolsonaro said he would privatize transmission and distribution units but not the generation of electricity. Bolsonaro had previously promised to privatize some state-controlled companies.
RIO DE JANEIRO/SAO PAULO (Reuters) - Nationalistic and free market advisers to Brazil's right-wing presidential frontrunner are deeply split about the future of state-run oil company Petroleo Brasileiro, foreshadowing a showdown over divestments and fuel subsidies. University of Chicago-educated banker Paulo Guedes, economic adviser to frontrunner Jair Bolsonaro, has said he favors full privatization of Petrobras. Federal prosecutors in Brazil said on Wednesday that Guedes was being investigated over accusations of fraud tied to the pension funds of state-run companies, and Bolsonaro has rejected one of his policy recommendations.
Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week sold the bulk of its production in the region to mid-cap explorer Murphy Oil Corp. The majors are not leaving the Gulf altogether but they are shifting priorities.
The far-right front-runner in Brazil's presidential election, Jair Bolsonaro, has no plans to privatize oil company Petroleo Brasileiro SA (PETR4.SA) in the short term if elected, the president of his party told Reuters on Wednesday. Gustavo Bebianno said the sale of Petrobras, Brazil's largest corporation, could still be considered in the medium term, but only after the company had been fully "revitalized" by changing its management.