45.57 +0.10 (0.22%)
After hours: 5:29PM EDT
Commodity Channel Index
|Bid||45.40 x 900|
|Ask||45.57 x 1400|
|Day's Range||44.37 - 45.69|
|52 Week Range||30.11 - 77.93|
|Beta (5Y Monthly)||1.36|
|PE Ratio (TTM)||17.06|
|Earnings Date||Jul 31, 2020 - Aug 04, 2020|
|Forward Dividend & Yield||3.48 (7.73%)|
|Ex-Dividend Date||May 12, 2020|
|1y Target Est||47.27|
The energy sector is comprised of companies focused on the exploration, production, and marketing of oil, gas, and renewable resources around the world. Popular energy sector stocks include upstream companies that are primarily engaged in the exploration of oil or gas reserves. Well-known companies in the sector are Hess Corp. (HES) and Diamondback Energy Inc. (FANG).
First Eagle Investment Management recently released its Q1 2020 Investor Letter, a copy of which you can download below. The First Eagle Fund of America posted a return of -23.72% for the quarter (without sales charge), underperforming its benchmark, the S&P 500 Index which returned -19.60% in the same quarter. You should check out First […]
United Natural Foods, Ralph Lauren, ExxonMobil and Chevron highlighted as Zacks Bull and Bear of the Day
With their fully integrated models, ExxonMobil (XOM) and Chevron (CVX) are the ones that are best in adapting their business to the prevailing scenario.
South Africa's Rand Merchant Bank (RMB) confirmed on Thursday that it is part of a consortium of banks providing $15 billion funding for French energy major Total's Mozambique liquefied natural gas (LNG) project. RMB, owned by FirstRand Bank, said the signing of $15 billion in financing was scheduled for June. "It will be a remarkable achievement in the circumstances," Jonathan Ross, head of oil and gas coverage at RMB, said in a statement, adding that other projects have experienced delays.
Top fund manager BlackRock Inc <BLK.N> on Wednesday said it cast an advisory vote in favor of an independent chairman at Exxon Mobil Corp <XOM.N> and cast votes against the reelection of two directors over the company's approach to climate risks. Exxon shareholders on Wednesday rejected all four shareholder resolutions, with none getting more than 38% of the votes cast. The independent chairman proposal fell with 32.7% in favor of an appointment when the next chief executive is named.
Top fund manager BlackRock Inc on Wednesday said it cast an advisory vote in favor of an independent chairman and against the reelection of two directors at Exxon Mobil Corp over the company's approach to climate risks. Exxon shareholders on Wednesday rejected all four shareholder resolutions with none getting more than 38% of the votes cast. The independent chairman proposal fell with 32.7% in favor of an appointment when the next chief executive is named.
Chevron Corp shareholders on Wednesday voted to approve a proposal demanding that the company issue a report on its climate change related lobbying activities, a major win for activists against big oil. Other shareholder proposals were defeated, including one calling on the U.S. oil producer to split its chairman and chief executive roles that received only around 27% votes in favor. Rival Exxon Mobil Corp's shareholders on Wednesday also rejected calls to split the chair and CEO roles along with all other climate related proposals.
ExxonMobil Outlines Path for Resilience, Long-Term Growth at Annual Shareholder Meeting
(Bloomberg) -- Exxon Mobil Corp. shareholders voted against separating the roles of chairman and chief executive officer as the oil giant navigates a historic collapse in crude prices.Just 33% of investors backed the proposal to create an independent chairman position, compared with 41% last year. Proxy advisers Glass Lewis & Co. and Egan-Jones Proxy Services had recommended that shareholders vote in favor of the plan.Pressure for Exxon to appoint an independent chairman, separate to the CEO, has been building for years. Exxon beefed up the powers of its lead director earlier this year in response to some shareholders’ concerns.Some investors, such as Legal & General Investment Management and the Church of England, encouraged others to back the split due to what they deem a lack of action and ambition on climate change. The California Public Employees’ Retirement System, America’s largest state public pension fund, and the New York State Common Retirement Fund have also said they support splitting the chairman and CEO roles.America’s top oil producer is going through one of the most financially stressed times in its modern history after a record plunge in crude prices exacerbated the strain of multibillion-dollar investments to rebuild its operations. In the first quarter, when the oil crash still hadn’t culminated in a shocking dip to minus $40 a barrel, the company had its first loss in 30 years, forcing it to shut production and retreat on many of its big projects in a bid to save money.CEO Darren Woods has indicated his willingness to borrow billions of dollars to continue paying Exxon’s mighty dividend, while standing ready to resume growth plans once prices rebound. But some investors question whether the company needs to pivot toward renewables and greener forms of energy, with oil potentially on the cusp of a long-term demise.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shareholder activists targeting Exxon Mobil Corp's climate policies stepped up a campaign to split the chairman and chief executive's roles ahead of the oil major's shareholder meeting on Wednesday. Unlike European rivals, Exxon faces little government pressure to curb greenhouse emissions or strike deals with climate activists. Under CEO Darren Woods, Exxon blocked six climate resolutions from this year's ballot, encouraging activists to seek the split.
ExxonMobil shareholders have voted against forcing the company to appoint an independent chair, dealing a blow to campaigners that want it to separate the position from the role of CEO. Support for the split, which was proposed at the company’s annual meeting on Wednesday, dropped sharply from 40.7 per cent of shareholder votes in 2019 to 32.7 per cent this year, its lowest level in the past five years. Campaigners say the combined job weakens corporate governance and link it to a perceived failure by the biggest listed oil producer in the US to act on climate change.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
Investing.com - Oil prices pushed higher Tuesday, amid signs producers are making good their promises to cut crude supply while demand picks up.
DOW UPDATE Dragged down by negative returns for shares of Chevron and Caterpillar, the Dow Jones Industrial Average is declining Friday afternoon. Shares of Chevron (CVX) and Caterpillar (CAT) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 74 points (0.
Typically, I like to find unique angles regarding today's hot investment topics. But for beleaguered Chesapeake Energy (NYSE:CHK), I don't have anything original to offer. No matter what your perspective, you can't ignore the dire situation the energy firm finds itself in. Even if you're taking the speculative bullish position - which of course very few are - everyone acknowledges the dangers of betting too heavily on CHK stock.Source: Casimiro PT / Shutterstock.com You're not going to find me adopting the contrarian position here. But you might find it curious that in the midweek session, CHK stock closed up by a double-digit margin. That's not necessarily a fluke occurrence.Just recently, oil prices on Thursday reached their highest point since March, according to a Reuters report. Indeed, "black gold" is presently enjoying a triple-pronged catalyst: lower-than-expected U.S. crude inventory, a so far successful implementation of OPEC-led production cuts, and growing demand as governments worldwide have started relaxing restrictions on people's movements.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBetter yet, Chesapeake's native U.S. market will likely provide further upside catalysts for oil prices. As you know, most states have started reopening their economies to various degrees. But a notable number of states are only implementing regional reopening initiatives. According to the New York Times, they include the western coastal states and New York.Currently, this is a huge drag on the broader economy. There's a big difference between Wyoming reopening - no offense to any Wyomingites - versus energy-hungry California. But it's also a longer-term opportunity for CHK stock and its ilk. * 7 Excellent Penny Stocks Ready to Roar As these core states open back up, a robust surge of demand will enter the market. Nevertheless, I don't think it will be enough to save Chesapeake Energy. CHK Stock Was Hurting Well Before the TroublesLately, I find myself getting frustrated with the mainstream media's attempt to manipulate math. We're hearing so much talk about certain industries recovering from their March lows and oil is no exception. But the media tends to isolate their comparisons to only the recently recorded troughs.If we compare oil prices to where they were in the beginning of the year, the situation doesn't look so much like a recovery, but instead a minor mitigation of a disaster. Go back several years and you'll start to see a trend. Oil prices peaked in the early 2010s decade and they don't appear to be making a comeback to those levels anytime soon.This is incredibly problematic if you're buying CHK stock on the hopes of a recovery. Yes, oil prices are recovering, but only against their recent lows. Against any other comparison within the last 15 years, you won't come away with an optimistic assessment.Even if oil prices substantively recovered, so what? The oil markets are a game of musical chairs. It's a reasonably safe bet that sector giants Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) will have a seat. CHK stock? That's not a gamble … that's throwing your money away.Right now, we're seeing oil stocks rise in anticipation of the consumer economy returning. For instance, more people flying would equate to higher oil demand. Click to EnlargeSource: Chart by Josh Enomoto But if you compare CHK stock to jet fuel prices, you'll notice that long-term waning demand for jet fuel has coincided with weakness in Chesapeake shares. So if travel demand "recovers," jet fuel will likely only recover to just before pre-pandemic levels.As you can see, that wasn't sustainable for CHK. Why would it be sustainable in the new normal? So Many Unknowns for ChesapeakeContrarians might point out that consumers will likely travel en masse in their personal vehicles rather than flying. Thus, investors shouldn't ignore the robust automobile traffic demand that's already rising across the U.S.I won't disagree with that. For many metropolitan areas in California, for instance, they looked like ghost towns. Therefore, some semblance of the old normal will represent a nice lift for energy firms.But specific to California, we don't know when powerhouse cities like Los Angeles will reopen. And the longer such cities stay shuttered, the more they risk severe economic damage.Let's not forget the big one - jobs. Over a nine-week period, nearly 39 million Americans filed for unemployment benefits. Current trends suggest that millions more will file over the next several weeks. Until most consumers feel comfortable about their employment situation, travel volume overall will remain deflated.Thus, while many catalysts are potentially available over the horizon, energy companies need patience to actualize them. But that's another problem, isn't it? Because the one thing that Chesapeake doesn't have is time.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Chesapeake Energy Is Just a Dead Cat Bouncing appeared first on InvestorPlace.
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, National Oilwell Varco, HollyFrontier and Halliburton
DOW UPDATE The Dow Jones Industrial Average is falling Friday morning with shares of Exxon Mobil and Chevron seeing the biggest losses for the blue-chip average. The Dow (DJIA) was most recently trading 136 points, or 0.
Shares of Chevron Corp. and Exxon Mobil Corp. fell in premarket trading Friday, enough to pace the Dow Jones Industrial Average's early decliners, as a selloff on crude oil futures weighed on the energy sector. Chevron shares shed 0.8% and Exxon Mobil's stock fell 0.6%, while Dow futures rose 19 points, or 0.1%. Crude futures dropped 3.7%, amid concerns over economic growth in China and growing worries of increasing trade friction between the U.S. and China. The SPDR Energy Select Sector ETF slid TK% ahead of the open. Among other more-active energy stocks, Occidental Petroleum Corp. slipped 0.4%, Marathon Oil Corp. gave up 0.8%, Apache Corp. fell 1.1% and Halliburton Co. lost 1.3%.
It's time to buy back into oil companies, like Marathon Oil (NYSE:MRO) stock.Source: IgorGolovniov / Shutterstock.com Just weeks plunging well under zero on supply-demand issues, oil is making a sizable comeback. In fact, Brent crude is back above $35.Along with it, oil stocks are just beginning to explode higher. Chevron (NYSE:CVX) just ran from a low of $50 to $92. Exxon Mobil (NYSE:XOM) jumped from $30 to $44. Marathon has run from $3 to $6.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Excellent Penny Stocks Ready to RoarFrom here, we could see higher highs in stocks like Marathon Oil with help from OPEC and a reopening economy. In fact, I believe the MRO stock could easily double from current prices. The Worst May Be Priced Into MRO StockAs with most oil companies, Marathon Oil didn't fare so well with the coronavirus.In its first quarter, it posted a loss of $46 million, or 6 cents a share, down from a profit of $174 million, or 21 cents a share, year over year. Adjusted, the loss was 16 cents a share. Analysts were looking for a loss of 14 cents, or 16 cents adjusted.It then withdrew its guidance for the year thanks to coronavirus uncertainty, suspended its dividend and buybacks, and cut its capital spending budget by $1.1 billion to $1.3 billion.Unfortunately, the company didn't have much of a choice with the virus making mincemeat of most stocks on the market. However, the worst may have been priced in, as oil prices begin to rebound from negative zero. Oil Production Cuts Are Helping Balance the MarketMonths after Russia and Saudi Arabia flooded the market with unwanted supply, the two have joined other OPEC countries in cutting 10 million barrels a day. On top of that, the Saudis agreed to cut oil production in June 2020 by another 1 million barrels a day.In addition, President Donald Trump promised the U.S. would pull back on oil output. In fact, "Trump said the U.S. would cut production levels by 250,000 to 300,000 in order to assist Mexico in meeting the parameters outlined by OPEC+," as noted by The Hill contributor Rebecca Beitsch.U.S. oil companies like Texland Production shut down 1,211 oil wells, and stopped production in May 2020. Even the number of rigs operating in the U.S. fell from about 800 to 600.And, the Energy Information Administration (EIA) has even said U.S. crude production could fall to 7.8 million barrels per day in June. That's a steep drop from 8 million in May. The EIA also just reported a fall of 5 million barrels in weekly supply.All is helping to cool concerns of oversupply.Better still, "the OPEC-plus alliance may extend May and June oil production cuts of almost 10 million barrels per day through the end of this year, an OPEC delegate tells Energy Intelligence. The delegate said a proposal to that effect would be discussed at the next OPEC -plus video-link meeting in June." Oil Demand Is Showing Signs of ReturningWith economies beginning to reopen, there's hope we'll see far greater demand for oil.At the moment, "While gasoline demand has staged a strong recovery as people go back to work, there are still several unknowns regarding the extent to which oil demand will ultimately recover," said UBS analyst Giovanni Staunovo.At the same time, Bloomberg reported that oil demand in China is back to pre-coronavirus levels. "According to Bloomberg's sources, China's gasoline and diesel consumption are already back to the pre-virus levels -- a bullish sign for the oil market, which is looking at China for clues about when demand in the rest of the world could return to some form of normality," says Oil Price contributor Tsvetana Paraskova.Reopening economies in the U.S, and across Europe are helping to fuel demand, as well. With improving oil fundamentals, and the worst of the worst priced into the MRO stock, now may be a great time to accumulate. I strongly believe MRO could double from current prices.Ian Cooper, an InvestorPlace.com contributor, has been analyzing stocks and options for web-based advisories since 1999. As of this writing, Ian Cooper did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Itas Now Time to Buy Back Into Marathon Oil appeared first on InvestorPlace.
DOW UPDATE The Dow Jones Industrial Average is trading down Thursday afternoon with shares of Exxon Mobil and IBM seeing the biggest losses for the blue-chip average. Shares of Exxon Mobil (XOM) and IBM (IBM) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 75 points lower (-0.