|Bid||51.52 x 800|
|Ask||52.40 x 2200|
|Day's Range||52.28 - 52.81|
|52 Week Range||47.70 - 58.82|
|Beta (3Y Monthly)||0.74|
|PE Ratio (TTM)||14.66|
|Forward Dividend & Yield||2.88 (5.51%)|
|1y Target Est||69.71|
Nov.11 -- Patrick Pouyanne, Total SA chief executive officer, discusses the outlook for global oil markets in 2020 with Bloomberg's Manus Cranny on "Bloomberg Markets."
Equinor (EQNR)-run Johan Sverdrup oil field's phase one production projection of 440,000 barrels of oil per day for summer 2020 is constant.
(Bloomberg) -- OPEC’s crude production fell before ministers gather to discuss their strategy for next year, though more by accident than design.Angola, which has been suffering a decline for the past four years, saw output slide to the lowest in more than a decade. Iran’s production, already squeezed to the lowest since the 1980s by U.S. sanctions, dwindled even further.Total output from the Organization of Petroleum Exporting Countries consequently slipped by 110,000 barrels a day to 29.7 million a day last month, according to a Bloomberg survey of officials, ship-tracking data and estimates from consultants including Rystad Energy AS and JBC Energy GmbH.The group and its allies, a 24-nation alliance known as OPEC+, will meet in Vienna this week to consider output levels for the year ahead. Though the coalition -- which pumps about half the world’s oil -- cut supply by 1.2 million barrels a day this year, it’s forecasting a renewed surplus in early 2020.Iraqi Oil Minister Thamir Ghadhban said on Sunday that OPEC+ could consider deepening the cutback by 400,000 barrels a day. However, his comments conflict with signals from the rest of the group, and data for November showed that Iraq had again failed to deliver any of the curbs it promised under the existing deal.Saudis SteadySaudi Arabia, the group’s biggest member, indicated last week that it’s tired of shouldering most of the burden of the curbs while others -- such as Iraq, Nigeria and Russia -- fail to live up to their promises.The kingdom kept production steady last month at 10.01 million barrels a day, the survey showed. While it’s still cutting far more than obligated under the terms of the OPEC+ deal, output is up from the levels produced for most of this year.The decline in the group’s overall volumes last month was instead the result of unintended disruptions, which have beset many OPEC members for several years.While Angola started pumping from a new ultra-deep offshore project this summer -- the Kaombo unit operated by Total SA -- the West African nation has struggled to make up for years of under-investment at aging oil fields. Output fell last month by 60,000 barrels a day to 1.28 million a day.Iran has also been under strain this year as U.S. President Donald Trump pressures Tehran to renegotiate an agreement on its nuclear program by squeezing the economy with sanctions. Iranian production fell by 40,000 barrels a day to 2.07 million.Despite the losses, OPEC’s total output remains higher than the levels it expects will be needed in the first half of next year. If the group holds at 29.7 million barrels a day, the surplus would amount to about 650,000 barrels day, potentially pushing prices lower and hurting members’ revenues.To contact the reporter on this story: Grant Smith in London at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Of Ecopetrol's (EC) 2020 capital spending, 80% and 11% are likely to be directed toward upstream and downstream operations, respectively.
Total's Chief Executive Patrick Pouyanne on Sunday criticised the French parliament's decision on Nov. 15 to remove tax breaks on palm oil in biofuels, saying the survival of its biorefinery in southern France was at stake. The parliament voted against a government-backed proposal to delay until 2026 the end of palm oil's tax advantages, that would have given companies like Total more time to phase out the use of palm oil in biofuels. Total invested 300 million euros ($330.66 million) to convert its La Mede facility from a crude oil refinery into a biofuel plant, saving 250 jobs.
Papua New Guinea's petroleum minister on Friday flagged a standoff in talks with Exxon Mobil Corp tied to a $13 billion gas expansion, saying the U.S. oil giant was unwilling to negotiate on the country's terms. The state's negotiating team had set out draft terms for negotiations on developing the P'nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a "fair deal" for PNG. "It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position," Kua said in a statement emailed to Reuters.
The iShares Global Energy ETF (IXC) is up 9.14% year-to-date. Not a bad performance compared to some other equity-based energy ETFs, but it still lags what the S&P 500 has returned this year. With IXC sporting a trailing 12-month dividend yield of almost 4% and some analysts bullish on global oil names, such as BP Plc (BP), Royal Dutch Shell (RDS-A) and France’s Total (TOT), the iShares fund could offer some upside in 2020.
The S&P 500 stock index has famously averaged a return of just under 10% over the past near-century -- a great rate in an economy where the average bank account is still paying just 0.05%!Of course, even 10% is just the average. Some stocks go up more than that, some go up less. Some years are better for stock returns, some are worse. So what can you do you increase your odds of getting a great return on your stock investment?I've got one word for you: Dividends.Buy a stock with a great dividend yield -- significantly higher than what the average S&P stock pays -- and you've gone a long way towards ensuring that your total profits in a given year are at least average, and maybe significantly above average.With this goal in mind, we've employed the Stock Screener at TipRanks to dig up for us a few likely candidates -- stocks paying generous dividend yields of 5% or better, and stocks scoring a "strong buy" rating from Wall Street analysts to boot.Enterprise Products Partners (EPD)First up is oil and natural gas pipeline operator Enterprise Products Partners, and of the three this one offers income investors the biggest dividend yield: 6.8%. EPD is also one of the biggest players in its industry, owning and operating pipelines for the transport of oil, gas, and petrochemicals stretching some 49,000 miles in combined length, with storage and processing facilities besides.Little wonder that Evercore ISI analyst Dan Walk calls EPD a "bellwether" for the midstream energy industry. In a recent research note, Walk hailed EPD's earnings beat in its recent Q3 earnings announcement, arguing that "EPD's scale and integration across the value chains of all three hydrocarbon streams provide unmatched flexibility to adapt to an ever-shifting environment." The analyst was particularly impressed by EPD's decision to expand its pipelines, adding potentially as much as almost 1 billion barrels per day in transportation capacity for the business.As a result, Walk reiterated an Outperform rating on EPD stock along with a $32 price target, which implies about 25% upside from current levels. (To watch Walk's track record, click here)Wolfe Research analyst Keith Stanley was also enthusiastic, noting that EPD is forging "full speed ahead" with its "superior integrated, demand-driven growth platform," even as rivals have "pulled back." Echoing Walk's sentiment, Stanley rates the stock an Outperfom, while maintaining a $33 price target.Overall, the Street sentiment on EPD stock is similarly positive, with three out of three analysts who have issued ratings on the stock in the last three months rating the stock "buy." With an average price target of $33.33, these analysts see 29% upside in the stock over the next 12 months -- before counting the dividend. (See EPD stock analysis on TipRanks)Total (TOT) Farther up the oil industry food chain we find French oil giant Total, a true giant of the industry with annual revenues approaching $180 billion. Total's 5.3% dividend yield -- more than twice as generous as the average dividend on the S&P 500 -- is no slouch either.In a recent research note, Cowen analyst Jason Gabelman predicted that Total's production growth "should exceed peers significantly over the next three years... with materially better cash margins... and rising FCF." The analyst noted that in Q3, Total "beat" on earnings and generated $6.6 billion in free cash flow as well -- $1.2 billion more than Street estimates had predicted -- even as the company stood fast to its promises to invest in capital spending and continue buying back shares.Gabelman forecast that by the time December 31 rolls around, Total will have grown its full-year earnings 8% in comparison to last year, and that the company is on track to do nearly as well in 2020, growing earnings a further 7%. Although valued at 15.2 times trailing earnings today, Gabelman believes these numbers put the stock squarely in "buy" territory at a current-year P/E ratio of 12.4 and a forward P/E ratio of just 11.6.Similarly, 10 out of 10 analyst ratings published on Total in the last couple of months have rated Total stock "buy." On average, analysts see Total shares climbed 22% over the next year, to an average target price of $66.12 -- again, before factoring in the 5.3% dividend. (See TOT stock analysis on TipRanks)Outfront Media (OUT)Taking a sharp right-hand turn out of the oil patch here at the end, we turn our attention now to Outfront Media, whose stock in trade is... billboards, as well as ads posted on mass transit and other "mobile" advertising assets. And if billboards don't sound particularly sexy to you, then perhaps this fact will: Outfront Media pays its shareholders a monster 5.8% dividend yield -- nearly triple the yield on the S&P 500.Commenting on Outfront's earnings results earlier this month, Wolfe Research analyst Marci Ryvicker was impressed at the company's ability to grow revenues by double digits year over year in TRADITIONAL MEDIA (Her emphasis, not ours). Q3 sales came in 11.7% higher than in the year-ago quarter, led by revenues from transit advertising, up 20%.Admittedly, next quarter looks to be a bit slower on "toughening comps." Nevertheless, Ryvicker notes that if management succeeds in growing revenues by mid-to-high-single digits, as it's promised to do, it's probably going to eclipse Street predictions for 5.4%. growth.Analysts are starting to warm to this story, though, with four out of five polled in the last three months rating Outfront stock a "buy." Consensus targets call for the stock to rise 28.2% over the next 12 months to $32.25 per share -- but Wolfe's Ryvicker is even more optimistic than that. Wowed by the company's ability to grow traditional media sales in a digital world, she's set a price target of $36 -- 43% more than the stock is worth today. (See Outfront Media stock analysis on TipRanks)
Foreign oil stocks seem to be weathering the current environment better than US drillers, and some of them have managed to significantly raise profits over the last few quarters
France's parliament on Friday voted to remove tax breaks for the use of palm oil as a biofuel, a day after a ruling in favour of maintaining the advantage led to howls of protests from environmentalists. A large majority of members present voted against a government-backed proposal to delay until 2026 the end of palm oil's tax advantages, giving companies like oil major Total more time to phase out the use of palm oil in biofuels. Late on Thursday, the National Assembly, France's lower house of parliament, had agreed to extend the tax breaks, but following strong pushback from environmentalist MPs within President Emmanuel Macron's ruling LREM party, the government agreed on a second vote.
U.S. sanctions on Moscow have forced out foreign oil majors that were developing oil and gas reserves in tricky areas such as the Russian Arctic and Siberia
The trade war appears to be the only variable that will impact the price of oil in today’s market, which means all eyes will be on Trump’s upcoming speech in New York
Shares of SunPower Corp. surged 5.1% in premarket trading Monday, after the solar power company, which is owned by France-based oil company Total S.A. , announced plans to separate into two independent publicly traded companies. After the separation, SunPower will focus on solar systems and storage and energy services, while Maxeon Solar Technologies will be headquartered in Singapore and will focus on bringing its solar panel technology to high-volume scale. As part of the separation, China-based Tianjin Zhonghuan Semiconductor Co. Ltd. will make a $298 million equity investment in Maxeon for a 28.85% stake in Maxeon post-separation. SunPower's stock has tumbled 41.5% over the past three months, while the S&P 500 has gained 6.0%.
U.S. solar company SunPower said on Monday it will split into two publicly traded companies, separating most of its solar panel manufacturing operations from storage and energy services, sending its shares up as much as 15%. The move was intended to boost value in SunPower shares, which are trading at the same level they were at two years ago. The new solar panel company, named Maxeon Solar Technologies, will be headquartered in Singapore, with manufacturing operations in France, Malaysia, Mexico and the Philippines.
French oil giant Total SA said it won't renew its membership of a key industry lobby group because the organization's stance on climate issues doesn't align with its own.
Ormat Technologies' (ORA) Q3 revenues of $170.5 million miss the Zacks Consensus Estimate by a whisker but improve 2.4% on a year-over-year basis.