58.67 +0.66 (1.14%)
Pre-Market: 9:28AM EDT
|Bid||58.54 x 900|
|Ask||58.57 x 1000|
|Day's Range||57.79 - 58.68|
|52 Week Range||54.56 - 70.09|
|Beta (3Y Monthly)||0.68|
|PE Ratio (TTM)||11.68|
|Forward Dividend & Yield||3.76 (6.48%)|
|1y Target Est||77.74|
LONDON , Sept. 16, 2019 /PRNewswire/ -- Royal Dutch Shell plc (the 'Company') (NYSE: RDS.A) (NYSE: RDS.B) announces that on September 16, 2019 it purchased the following number of "A" Shares ...
The heavy exposure of the U.K. to the energy sector was on display on Monday, as the FTSE 100 outperformed most global benchmarks in wake of the attacks on Saudi Arabia that has taken half of its production offline.
Chevron (CVX) stock has fallen 1.4% since July 1, 2019, the beginning of the current quarter. Prices of WTI crude oil have fallen 6.0% in the quarter.
The valuations of integrated energy stocks ExxonMobil, Chevron, Shell, and BP have been slammed in Q3, led by volatile equity markets and oil prices.
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.
Production from the Groningen gas field, run by Royal Dutch Shell (RDS.A) and ExxonMobil (XOM), will be active through 2026 if there is high demand for the commodity during bitter cold winters.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Naspers Ltd.’s newly listed internet unit received an enthusiastic early response from investors, soaring on its trading debut to close a valuation discount to its biggest investment, Chinese tech giant Tencent Holdings Ltd.Prosus NV, as the new Amsterdam-listed company is known, jumped as much as 32% in early trading to value the business at about 125 billion euros ($138 billion). The group’s 31% stake in WeChat creator Tencent is worth about $131 billion, the result of a timely investment made almost two decades ago.The investor reaction is an early vindication of the strategy masterminded by Naspers Chief Executive Officer Bob van Dijk, who took the helm of the Cape Town-based company five years ago. His plan to carve out Prosus into a new listing in Amsterdam was designed to attract a more global investor base and realize more value, while weakening the group’s dominance over the Johannesburg stock exchange.The move to Euronext is “to facilitate our next phase of growth,” Van Dijk said in an interview with Bloomberg TV just after the market opened. Prosus’s classified-ads business is the largest in the world, while the group also sees fast expansion in internet payments, food delivery and online trading in second-hand goods, he said.While the discount to Tencent was all but wiped out, the firm is still trading below the sum of its parts when you add other assets, including shareholdings in Russia’s Mail.Ru Group Ltd. and Delivery Hero SE of Germany. Van Dijk’s next challenge will be to generate higher returns from those investments and prove that Prosus isn’t merely a proxy for holding Tencent stock.“Our next step will be to bed down and invest in our core business units,” Chief Financial Officer Basil Sgourdos said by phone.Shares in Prosus -- a Latin word meaning ‘forwards’ -- declined slightly after the early surge. The value as of 11:28 a.m. in Amsterdam was 121 billion euros, making it the third-largest publicly traded company in the Netherlands, behind Royal Dutch Shell Plc and Unilever NV. Its market value rivals that of Europe’s biggest tech company, Germany’s SAP SE.Naspers is retaining a 73% stake in Prosus, and will keep hold of South African businesses including the newspapers that form the basis of the company’s origins a century ago. Its stock rose in Johannesburg, trading 5.4% higher as of 11:28 a.m. local time.“Naspers has been looking to unlock value in the steep discount applied to its Tencent holding and the successful listing of Prosus today has certainly gone some way to achieving that target,” said Neil Campling, an analyst at Mirabaud Securities. “Prosus is not only the Tencent holding though.”(Updates with CFO comment in sixth paragraph.)\--With assistance from Swetha Gopinath, Anna Edwards, Matthew Miller and Kit Rees.To contact the reporters on this story: Loni Prinsloo in Johannesburg at email@example.com;John Bowker in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: Thomas Pfeiffer at email@example.com, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
HKEX’s proposed offering £20.45 in cash plus 2.495 newly issued share for each LSE share — a 23 per cent premium to Tuesday’s closing price — conditional on LSE abandoning its offer for US financial data company Refinitiv. US and EU regulators were unlikely to allow an Asian player to gain control of LSE’s critical infrastructure assets in post-trade services, and LSE chief executive David Schwimmer would not want to “work as a divisional manager for HKEX CEO Charles Li,” it said. Berenberg saw an LSE-HKEX tie-up offering few synergies and argued that political objections would be the main obstacle.
(Bloomberg) -- A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play.Independent producers in the Permian Basin of Texas and New Mexico are trading much lower than when Chevron Corp. bid for Anadarko Petroleum Corp. in April. Royal Dutch Shell Plc and ConocoPhillips have expressed interest in bulking up in shale at the right price. Exxon Mobil Corp.’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.Oil’s drop to near $55 a barrel, from $75 in October, is putting pressure on shale producers at a time when investors are losing faith in an industry that has burned about $200 billion of cash in a decade. Despite record U.S. output, the S&P index of independent exploration and production companies is trading near its troughs of 2008 and 2015, when crude prices sank south of $35 a barrel. The producers are now worth just 4.5 times their earnings before certain items, compared with 9 times about a year ago.“It’s clear there are many E&Ps trading well below the Chevron valuation watermark from April,” said Michael Roomberg, who helps manage $4.4 billion at Miller/Howard Investments Inc. He expects “several additional deals over the next several quarters, and wouldn’t be surprised if the majors are involved.”Pioneer Natural Resources Co. or Concho Resources Inc., which have both struggled this year, would be a good fit for Exxon, while Shell may look at smaller players like WPX Energy Inc. and Cimarex Energy Co., according to Tudor, Pickering, Holt & Co.The collapse in valuations has been so severe that the biggest shale producers may also come into play. EOG Resources Inc. and Occidental Petroleum Corp. could also be targeted, Ben Cook, a portfolio manager at BP Capital in Dallas, said earlier this year. Activist investor Carl Icahn is pushing for a shakeup of the board at Occidental.After a slow start in shale, Exxon and Chevron have expanded in the Permian at prodigious rates over the past two years and now see onshore exploration in the U.S. as a key part of their global growth plans. They expect to more than double output to roughly 1 million barrels a day each by the early 2020s.The two heavyweights are betting their ability to fund enormous drilling programs and build associated infrastructure like pipelines and gas terminals means they won’t encounter the growing pains the independents are currently experiencing.“If there is the opportunity to acquire something that brings unique value to Exxon Mobil, we’ll be in a position to transact on that,” Exxon CEO Darren Woods said at a Barclays Plc conference Wednesday.But he’s willing to let potential targets struggle for some time to get a better price.“Time’s on our side to let that play itself out,” Woods said. “I think people need to recalibrate what they’re experiencing in that unconventional space, and that will have an impact on how people value companies.”Chevron will be “opportunistic” in making acquisitions, the company’s North America head Jeff Gustavson said at the same conference. Any deal would have to be a strategic fit and be good value, he said.BP Plc entered the fray a year ago, acquiring BHP Group Ltd.’s onshore oil and gas assets for $10.5 billion. In hindsight, the timing looks bad given the slump in shale valuations since then.Waiting for too long could be risky as well. On the day Chevron bid for Anadarko (which it ended up losing to Occidental Petroleum Corp.), major shale producers surged as much as 12% as investors bet on a buyout frenzy.So far, Exxon, Chevron and Shell are looking smart.Some shale producers are struggling to pay creditors, with Sanchez Energy Corp. and Halcon Resources Corp. recently filing for bankruptcy protection.The majors “are going to go out there and run these guys into bankruptcy,” Mark Rossano, CEO of C6 Capital Holdings, said on Bloomberg TV. “They’re going to look to pick up acreage at significant discounts.”(Corrects Pioneer’s Permian output in chart titled ‘Major Rivalry’ in story published Sept. 4)To contact the reporter on this story: Kevin Crowley in Houston at firstname.lastname@example.orgTo contact the editor responsible for this story: Simon Casey at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
THE HAGUE, Netherlands , Sept. 9, 2019 /PRNewswire/ -- The Board of Royal Dutch Shell plc (RDS-A) (RDS-B) ("RDS") today announced the pounds sterling and euro equivalent dividend payments in respect of the second quarter 2019 interim dividend, which was announced on August 1, 2019 at US$0.47 per A ordinary share ("A Share") and B ordinary share ("B Share"). Holders of A Shares who have validly submitted pounds sterling currency elections by September 2, 2019 will be entitled to a dividend of 38.01p per A Share. Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 38.01p per B Share.
LONDON , Sept. 6, 2019 /PRNewswire/ -- Royal Dutch Shell plc (the 'Company') (NYSE: RDS.A) (NYSE: RDS.B) announces that on September 06, 2019 it purchased the following number of "A" Shares for ...
ExxonMobil's (XOM) decision to sell Norway oil & natural gas assets reflects strong focus on boosting oil equivalent volumes from American onshore shale resources.
A joint venture between Malaysia's Sapura Energy and Austrian energy group OMV will achieve first production at an East Malaysian gas field in the fourth quarter of the year, the business said on Friday. SapuraOMV, the joint venture, holds a 40 percent stake in the SK408 block, while a unit of Malaysian state energy company Petronas and a subsidiary of Shell hold 30 percent each. Peak production from the block will be achieved by 2023, SapuraOMV's chief executive, Muhammad Zamri Jusof, told reporters.