|Bid||78.90 x 1800|
|Ask||0.00 x 900|
|Day's Range||78.10 - 79.19|
|52 Week Range||72.16 - 89.30|
|Beta (3Y Monthly)||0.69|
|PE Ratio (TTM)||14.53|
|Earnings Date||Jan 31, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||3.28 (4.06%)|
|1y Target Est||89.51|
Albemarle and ConocoPhillips represent two sides of an industry trend. Which one you choose depends on how you see things changing from here.
Last October, investors decided that the price of crude oil was too cheap, so they bought it up to $75 per barrel. As usual, the rhetoric quickly flipped uber bullish and the pendulum swung too far in that direction, buoying names like Exxon Mobil (NYSE:XOM). The oil bulls immediately called for even higher prices.
Oil staged a recovery on Friday, after a whipsaw week that saw the shares of oil and energy companies plunge and then recover on expectations that the Organization of Petroleum Exporting Countries, or OPEC, and its allies will soon cut output, helping boost profit expectations of energy companies. The S&P 500 energy index was up 1% mid-afternoon. dropped more than 35 cents at mid-afternoon to $40.81, a near-1% loss, having started the week at $41.60.
Early losses in chip stocks and retail names sent stocks to a weak open Friday, but Viacom rose on earnings, and PG&E received some relief.
In an interview with CNBC on November 14, Mark Fisher, a famous energy trader, said that the “worst is over” for crude oil. On November 15, US crude oil prices were 25.8% below their four-year high closing of $76.41 per barrel on October 3.
ExxonMobil (XOM) has a sound Upstream portfolio. Before we review ExxonMobil’s key growth assets, let’s briefly look at the company’s production expectations for the current year. In 2018, ExxonMobil expects its production to stand at 3.8 MMboepd (million barrels of oil equivalent per day), lower than 4.0 MMboepd in 2017.
Equity-based energy sector exchange traded funds are following oil prices lower, pressuring some well-known names in the group including the iShares U.S. Energy ETF (IYE) . Some market observer believe the sell-off in energy stocks may be nearing its end. For instance, IYE includes 40.0% integrated oil gas, 28.8% oil gas exploration and production, 12.1% oil gas equipment and services, 10.0% oil gas refining and marketing, 6.8% oil gas storage and transportation, and 1.5% oil and gas drilling.
In the third quarter, ExxonMobil’s (XOM) earnings rose 57% YoY (year-over-year) to $6.2 billion. ExxonMobil’s Upstream segment, which contributed 39% to its overall earnings in the third quarter of 2017, added 68% in the third quarter. ExxonMobil’s Downstream segment’s contribution fell from 39% in the third quarter of 2017 to 26% in the third quarter of 2018.
PORT MORESBY/MELBOURNE, Nov 16 (Reuters) - A long-awaited project led by France's Total SA that will help double liquefied natural gas (LNG) exports from Papua New Guinea has come another step closer, with the government agreeing to set financial terms early next year. The LNG expansion, which analysts estimate will cost $13 billion, is crucial to the Pacific island nation's economy as LNG is its biggest export earner, while demand for the fuel is surging in international energy markets. Prime Minister Peter O'Neill said in the country's capital of Port Moresby on Friday that "physical terms" had been agreed.
PORT MORESBY, Papua New Guinea (AP) — As world leaders land in Papua New Guinea for a Pacific Rim summit, the welcome mat is especially big for China's president.
Exxon Mobil Corp., Total SA, and Oil Search Ltd. entered into a memorandum of understanding with the government that sets a broad framework for a final deal, with the details remaining to be worked out over the next few months, Oil Search said in a statement Friday. The framework creates an “equitable split” of proceeds from the project between the government and the developers, including reserving some natural gas for domestic use, Oil Search Managing Director Peter Botten said in a Bloomberg TV interview. “I’m hopeful that with the support of the government that we can come to an agreement on terms soon and together move forward on a new chapter in PNG’s energy story,” Neil Chapman, a senior vice president at Exxon, said Friday at the Asia-Pacific Economic Cooperation summit in Port Moresby.
Smaller, nimbler companies pioneered the U.S. shale boom. Giant companies such as Chevron Corp. and Exxon Mobil Corp. are increasing shale production faster and with fewer complications than their smaller rivals. Exxon doubled its shale rigs across the U.S. from the end of last year through September and became the most active driller in the country, according to industry tracker RigData.
Exxon Mobil Corp.'s ( XOM) performance has been hugely disappointing to energy bulls who predicted that soaring oil prices to as high as $100 a barrel would sharply boost its shares. Instead, Exxon Mobil's stock has fallen 14% off its high as oil prices plunged, and now the stock appears on a path that could push it down another 15% according to technical analysis. The chart shows that Exxon is in a steep multi-year trading channel. Each time the stock has hit the upper end, it has reversed and fallen to a new low. Currently, the stock is nearing a technical resistance level at $76.40.
CDC Houston, a local subsidiary of Coventry Development Corp., bought roughly 2,000 acres in north Houston in the 1960s.
Levels of income inequality and corporate concentration in the US have reached levels not seen since the Gilded Age, which is no accident, since our antitrust and monopoly laws have become just as weak and inefficient as they were back then. At the turn of the last century, oligopolies such as Standard Oil and US Steel were seemingly more powerful even than the government.
The assets, which would include what’s left of its holding in the Clair Field, are likely to draw interest from private equity-backed companies investing in the North Sea and from rival energy firms, the people said, declining to be identified as the deliberations are confidential. "ConocoPhillips is marketing its UK assets after receiving an unsolicited offer," a representative for Conoco said in a statement. "If offers do not meet the company’s expectations for value, ConocoPhillips will retain the assets.
Oil prices rallied Wednesday amid reports OPEC is weighing a steep production cut, but a key U.S. supply report Thursday could dampen hopes for a rebound.
Stocks today ended mostly lower after searching for direction through much of the session. The Nasdaq pared gains into the close to finish flat.
A new report has targeted oil companies in the United States, suggesting that they are not investing enough into clean energy projects
Crude oil was smashed lower for the 12th consecutive session on Tuesday. West Texas Intermediate lost 7.1%, returning to levels not seen since November. One of the largest energy stocks, Halliburton (NYSE:HAL) fell 5.5% to return to early 2016 levels.