|Bid||32.20 x 2200|
|Ask||33.17 x 900|
|Day's Range||31.80 - 32.34|
|52 Week Range||31.33 - 42.55|
|Beta (3Y Monthly)||1.16|
|PE Ratio (TTM)||14.18|
|Forward Dividend & Yield||1.09 (3.32%)|
|1y Target Est||N/A|
Only one field has restarted service in the storm’s wake, while another is battling an oil leak. Waters off the province of Newfoundland and Labrador host four producing fields -- Hibernia, Terra Nova, White Rose and Hebron -- which yielded over 150,000 barrels of crude a day in September, according to the Offshore Petroleum Board. Only Hebron has resumed operations, according to Lynn Evans, a spokeswoman for operator Exxon Mobil Canada.
Albertan oil producers need to become warier of overbooking already filled to capacity oil pipelines creating what’s commonly called “air barrels” as these contribute to the huge discount Canadian crude is trading at to WTI and other benchmarks
ExxonMobil (XOM) stock is covered by 23 Wall Street analysts, six (or 26%) of whom have assigned given it “buy” or “strong buy” ratings. ExxonMobil’s mean target price of $90 per share implies a potential 15% gain from its current level. ExxonMobil’s financials are stronger than those of its peers in the industry.
Cenovus Energy Inc. is also publicly advocating for a forced cut. The producers called on Rachel Notley to invoke a provincial government power to force “curtailment,” the people said, at a time when Canadian heavy crude is selling for a near-record discount from U.S. benchmark prices, costing Alberta billions. Notley’s government has publicly lowered expectations for intervention.
Key InsightsSuncor is handing the reins to a familiar face, who may continue Suncor’s acquisition strategy. Little joined the company in 2008, and one of his first tasks was to integrate the company’s acquisition of the Petro-Canada gas station business.
Suncor Energy Inc said on Wednesday its chief executive will retire mid-next year, with the company's chief operating officer taking over the top job at that time. Steve Williams, who has been with the company for 16 years and CEO since 2012, will step down after Suncor's Annual General Meeting in May 2019, the Calgary-based company said. "He has significant experience, business acumen, passion and energy which will serve him and Suncor well." Suncor is Canada's second-largest energy producer, with a diversified portfolio of oil sand operations and refineries.
Steve Williams, who has been with the company for 16 years and CEO since 2012, will step down after Suncor's Annual General Meeting in May 2019, the Calgary-based company said. Suncor is Canada's second-largest energy producer, with a diversified portfolio of oil sand operations and refineries.
Imperial Chief Executive Officer Rich Kruger puts the rationale for the C$2.6 billion ($2 billion) Aspen project in northern Alberta down to building when others aren’t to save money. The decision comes in stark contrast to moves by Royal Dutch Shell Plc. and ConocoPhillips to sell oil-sands assets, and by locals like Cenovus Energy Inc. and Canadian Natural Resources Ltd. that are curtailing production to weather rock-bottom prices. Imperial is looking at ways to process more heavy crude at its refineries and could place some of the new production in Enbridge Inc.’s Line 3, the one export pipeline that’s under construction and scheduled to be completed late next year.
In the previous part of this series, we looked at Wall Street’s ratings for Chevron (CVX). In this part, we’ll look at changes in Chevron’s implied volatility. We’ll also estimate Chevron’s stock price range for the seven-day period ending November 9.
While the rest of the world is bearing the brunt of high oil prices, Canadian drillers continue to suffer from record-low prices for their heavy crude
We started this series by examining ExxonMobil’s (XOM) segmental earnings in the third quarter. We discussed ExxonMobil’s stock performance after its third-quarter earnings release on November 2. In this part, we’ll evaluate analysts’ ratings for ExxonMobil after its third-quarter earnings.
In this series, we’ve looked at Chevron’s (CVX) Q3 2018 earnings by segment. We also discussed Chevron’s stock performance since its earnings release on November 2. Now, we’ll look at the Wall Street ratings for the stock.
Chevron (CVX) announced its Q3 2018 results on November 2. The stock opened at $114.9 per share, which was higher than its previous close of $111.2. This rise could be because Chevron’s Q3 2018 earnings surpassed Wall Street’s estimate. The stock saw a high of $117.1 and a low of $113.1 during the day. Eventually, CVX closed at $114.7—around 3.2% higher than the previous day’s close.
Instead of being a victim of low Canadian oil prices, Suncor Energy takes full advantage of the situation with its integrated business model.
Suncor's (SU) third quarter delivers better-than-expected earnings on improved commodity price realizations, higher refining margins, along with robust production volumes from Hebron and Fort Hills.
Royal Dutch Shell (RDS.A) announced earnings on November 1 before the market opened. Shell stock opened at $63.5 per share—a bit higher than the previous close of $63.2. Eventually, Shell stock closed at $63.2, which was ~0.1% lower than the previous day’s close. The decline could be due to Shell’s third-quarter earnings, which missed analysts’ estimate.
Suncor, which has dedicated pipeline space for its crude as well as refineries in Canada, is mostly insulated from the impact of growing price discounts that U.S. refineries apply to Canadian oil, which have hurt rival producers, Williams said. "If we were, we wouldn't hesitate to pull throughput back." Rival Cenovus Energy Inc said on Wednesday it was limiting output due to severe discounts. Discounts should abate this year, with more significant relief arriving when Enbridge Inc's expanded Line 3 pipeline comes online late next year, Williams said.
The average of 16 analysts’ estimates compiled by Bloomberg was 92 cents. Key InsightsBecause of its refining operations and Petro-Canada gas stations, Suncor has been largely immune to the widening discounts for Canadian crude that have hurt some of its rivals. Syncrude, the 350,000-barrel-a-day plant that’s majority owned by Suncor, is now back at normal operating rates after going down in late June because of a transformer issue that knocked out power to the facility.
Suncor Energy (SU) delivered earnings and revenue surprises of 2.82% and -10.52%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Calgary, Alberta-based company said it had profit of 85 cents. Earnings, adjusted for non-recurring gains, came to 73 cents per share. The results surpassed Wall Street expectations. ...
Suncor Energy Inc, Canada's second-largest energy producer, reported a higher third-quarter profit on Wednesday on better oil prices and increased refinery margins, along with higher sales and output. The Calgary, Alberta-based company's operating profit, which excludes one-time items, was C$1.6 billion, or 96 Canadian cents per share, in the quarter ended Sept. 30, up from C$867 million, or 52 Canadian cents per share, in the year-ago period. Suncor also said operations at its majority-owned Syncrude oil project in northern Alberta had returned to normal, after a June outage that led the company to cut its production outlook for the year.