31.06 +0.14 (0.44%)
Pre-Market: 7:10AM EST
|Bid||30.96 x 4000|
|Ask||31.25 x 3000|
|Day's Range||30.81 - 31.99|
|52 Week Range||30.65 - 48.88|
|Beta (5Y Monthly)||1.68|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 15, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||2.00 (5.80%)|
|Ex-Dividend Date||Feb 10, 2020|
|1y Target Est||43.18|
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday. The world's top crude oil exporter has for years battled for market share with rapidly expanding shale oil producers in the United States, which in just a decade have developed capacity to pump millions of barrels per day of oil from rock formations that were previously too costly to tap.
The executive made more than 300 times the compensation of his median employee, despite retiring seven months into the year.
AÑELO, Argentina, Feb 19 (Reuters) - Just weeks into his young administration, Argentina's new president convened a meeting with executives from Chevron Corp, Royal Dutch Shell PLC and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. In a fence-mending session Jan. 16, Fernandez apologized to energy executives for the mixed signals, according to an industry source with direct knowledge of the meeting.
Oilfield services provider TechnipFMC said on Monday that it expects to take asset impairment charges of $2.4 billion in the fourth quarter as producers cut spending due to lower prices for oil and gas. TechnipFMC also said it expects 2019 revenue to be near $13.5 billion, the midpoint of its previously estimated range, and forecast goodwill impairment charge in the subsea segment to account for $1.3 billion of the total charges. Weakening North American shale activity due to lower oil prices has taken a toll on oilfield services provider, with Halliburton Co disclosing a $2.2 billion charge last month, while Schlumberger NV outlined an aggressive cost-cut plan.
Valerie has decades of experience in petroleum engineering and subsurface technical review and analysis, with a focus on unconventional gas development. Ms. Jochen has more than 35 years of technical industry experience and brings significant expertise in petroleum engineering and analysis of unconventional reservoirs to Gulfport. Ms. Jochen currently serves as a Professor of Practice in Reservoir Engineering at Texas A&M University, where she began in January 2018 following a nearly 20-year career at Schlumberger Limited (SLB).
Schlumberger Limited (NYSE:SLB) stock is about to trade ex-dividend in 3 days time. You will need to purchase shares...
Now may be the time to grab some oil stocks on the cheap. The prices of oil and the stocks of the companies that drill for it have been smashed by news of the coronavirus.
The latest Earnings Outlook indicates that the energy sector's Q4 results might reflect a 47.1% nosedive from the year-ago reported figure.
Dividend paying stocks like Staatl. Mineralbrunnen AG (MUN:SLB) tend to be popular with investors, and for good reason...
The energy sector is suffering a broad selloff, and is the worst performer of the S&P 500's 11 key sectors, amid increasing worries that the deadly coronavirus would weigh on economic growth and sap demand for crude oil. The SPDR Energy Select Sector ETF dropped 2.5% toward a 13-month low, with all 28 components losing ground. The ETF has now dropped 6.6% in the past week as the coronavirus out of Wuhan made headlines. Halliburton Co.'s stock was the biggest loser Monday, shedding 5.0%. Among the other more-active components, shares of Schlumberger Ltd. slid 4.7%, Exxon Mobil Corp. declined 1.9%, Marathon Oil Corp. lost 2.0% and Kinder Morgan Inc. slipped 0.8%. Meanwhile, crude oil futures shed 2.8%, and were on track to settle at a 3 1/2-month low. The selloff comes as the S&P 500 dropped 1.6%. Separately, Marathon Oil was upgraded by Stifel Nicolaus analyst Derrick Whitfield, who picked Monday to raise his rating to buy, after being at hold for at least the past three years. Whitfield said he's now bullish because of the company's commitment to shareholder returns and improving capital efficiency. The company also offers investors lower than average execution risks.
Domestic oil drillers may again remove rigs since explorers have decided to curb spending on the drilling of new wells for the second straight year in 2020.
Robust international operations coupled with rebounding oil prices have lifted oil and gas equipment stocks. Trade these three industry leaders.
(Bloomberg Opinion) -- Kinder Morgan Inc. just issued the thrilling news that it plans to grow profits by 0% this year. That counts as a win in energy in 2020.The pipelines giant was something of a bellwether in late 2015 when it slashed its dividend and soon after did the same to its growth plans. This process reached a logical conclusion of sorts in the full year results presented Wednesday evening. After the usual bullish remarks about natural gas, management outlined a plan to keep spending tight so it could bump the divided up on flat Ebitda. Having chipped away at its debts over the past four years or so, several asset sales allowed leverage to dip a bit further. And even as the project backlog drifted lower, any scurrilous talk of M&A on the earnings call was quashed swiftly.This is your U.S. energy playbook for the foreseeable future, folks.Kinder isn't a bellwether this time; the shrinkage doctrine is cropping up all over. We've just been treated to a set of results from the big oilfield services companies best described as managed retreat. Like Kinder Morgan's gas commentary, Schlumberger Ltd. made its customarily upbeat remarks about the outlook for international drilling activity on its own earnings call last week. Yet the action items are largely a set of retrenchments: job cuts, technology franchising (read: asset-light) and exiting or potentially exiting commoditized businesses such as artificial lift, fracking equipment and drilling tools. Similarly, Halliburton Co. touted growth prospects overseas, while carrying out “initial personnel reductions and real estate rationalization” as its core U.S. land business continues to suffer. Both companies are back to trading at discounts last seen when the oil crash was only just getting underway.The contractors are taking their lead from their clients. Both ConocoPhillips and Chevron Corp. closed out 2019 with declarations of restraint; one via a strategy presentation and the other with a big write-down. Similarly, the shortest run of year-over-year job gains in the U.S. upstream business since 2002 effectively ended in November (see this). It’s tough for even this habitually upbeat industry to talk a big game when (a) natural gas prices are comatose in the middle of JANUARY and (b) despite a year’s worth of Middle East drama having been crammed into just a few weeks, oil futures are lower now than they were after that last supposed game-changer in Saudi Arabia back in September:Evident caution on the part of oil and gas enablers such as pipeline operators and rig contractors is a clear sign the mantra of reducing capital intensity is taking over. After a decade like the one just gone, with many billions wasted in pursuit of sheer market share, that is no bad thing. Plus, with efforts to address climate change — itself essentially a war on waste — this decade brings added pressure to run an extraordinarily tight ship.Old habits die hard, and not everyone gets it. But with E&P earnings season about to kick off, it is worth noting that Kinder Morgan, with guidance roughly as exciting as cocktail hour at a pipelines conference, leads the energy sector on Thursday morning.To contact the author of this story: Liam Denning at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The three largest oil field equipment and services companies based in Houston all reported trouble in their North American arms.
Schlumberger (SLB) reported upbeat Q4 earnings on strength in its international operations. Meanwhile, Eni (E) announced the flow of first oil from the Agogo field, offshore Angola.
Halliburton's (HAL) Drilling and Evaluation unit profit jumps from $185 million in the fourth quarter of 2018 to $224 million in the corresponding quarter of 2019.