|Bid||117.78 x 900|
|Ask||118.10 x 1200|
|Day's Range||117.90 - 119.54|
|52 Week Range||100.22 - 127.34|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||16.92|
|Earnings Date||Jan 30, 2020 - Feb 3, 2020|
|Forward Dividend & Yield||4.76 (4.01%)|
|1y Target Est||136.44|
Saudi Aramco's shares soared after the world’s largest IPO debuted on the Riyadh stock exchange. The Schork Report editor Stephen Schork joins Yahoo Finance’s Zack Guzman, Sibile Marcellus and Clearnomics Founder & CEO James Liu on YFi PM to discuss.
Chesapeake Energy Corp. got a notice earlier this week from the New York Stock Exchange for being out of compliance with a trading rule that requires listed companies to keep an average closing price of at least a dollar over 30 days, the energy company said late Friday. Chesapeake plans to regain compliance by working on its ongoing plans to cut expenses, sell assets, look into a reverse share split, and find more savings, Chesapeake said. It also intends to respond to the NYSE notice shortly, it said. In the meantime, the stock will trade under its existing ticker plus the suffix "BC" to indicate below compliance, Chesapeake said. Chesapeake shares fell 1.8% to 77 cents a share in the extended session Friday after ending the regular trading day up 0.8%. The natural-gas producer has struggled with falling natural-gas prices that have also hit Chevron Corp. this week. The company last week secured a $1.5 billion loan facility after spooking markets with a "going concern" warning in November.
The announcement of a “phase one” trade deal between the U.S. and China saw WTI break $60 for the first time in months, with bullish sentiment taking hold despite some bearish fundamentals
Chevron made it clear from the outset that their leadership wanted to be involved in the community and they wanted to make investments in things that have an impact, and that’s just what they did.
Burns Scalo plans to revive a plan for a new office park totaling 500,000 square feet along new MarketPlace Boulevard where Chevron shelved a major regional office project in 2016
(Bloomberg Opinion) -- Electrons aren’t much of a growth industry in the U.S., the second-largest electricity market in the world after China. Electricity sales rose last year, after nearly a decade of being flat or falling slightly, but are still only up 3% since 2007. There is one market, though, where demand for electrons is booming: data centers. That power-hungry growth market, though, is also where some of the world’s biggest, most capitalized and most innovative companies are bringing their might to bear. Before getting into that innovation, though, there’s a crucial equation to consider: the power usage effectiveness ratio, or PUE. PUE is a measure of a data center’s energy efficiency — the ratio of total energy used divided by energy consumed specifically for information technology activities. The theoretical ideal PUE is 1, where 100% of electricity consumption goes toward useful computation. All the other stuff — power transformers, uninterruptible power supplies, lighting and especially cooling — uses power but doesn’t compute, and as a result raises a data center’s PUE. A 2016 Lawrence Berkeley National Laboratory study listed what was, at the time, PUE for facilities at various scales: a server sitting in a room, a server in a closet, a “hyperscale” extremely large data center. The smaller the server, the higher its ratio and the lower its efficiency. For the smallest server spaces, the PUE is above 2, meaning that more than half of its energy use is for things other than computing. For hyperscale, the PUE is 1.2 — meaning that most of the energy is going to computation. Here are that same data, expressed a bit differently, to show a server or data center’s power consumption by use. Here you can see that the smallest applications used more power for cooling than for computation. But at hyperscale data centers, more than 80% of power consumption went to IT (servers, networking and storage), and only 13% went to cooling. But now, with so much computation happening in the cloud (and, in reality, in hyperscale data centers), it’s worth finding out what today’s PUEs are and just how close they can get to that theoretical ideal of 1.0. A recent Uptime Institute survey of 1,600 data center owners and operators found that 2019’s average PUE is 1.67, and that “improvements in data center facility energy efficiency have flattened out and even deteriorated slightly in the past two years.” That PUE means that 60% of data center electricity consumption is going to IT, and the rest to cooling, lighting and so on. However, some operators are doing much better than that. Google says that its data centers have a PUE of 1.1, with some centers going as low as 1.06. There’s some seasonality in play, particularly because most of Google’s data centers are in the Northern Hemisphere; its Singapore data center has the highest PUE and is the least efficient of its sites. That’s not surprising given Singapore is hot and humid year-round. One key way to lower the cooling demand for a data center is to cool only to the temperature at which the machines are comfortable, not to where humans are most comfortable. For Google, that’s a temperature of 80 degrees Fahrenheit. There’s another approach, and one that draws on computation itself: machine learning. Google unleashed its DeepMind machine learning platform on the problem of data center energy efficiency three years ago; last year, it effectively turned over control to its own artificial intelligence: In 2016, we jointly developed an AI-powered recommendation system to improve the energy efficiency of Google’s already highly-optimised data centres. Our thinking was simple: even minor improvements would provide significant energy savings and reduce CO2 emissions to help combat climate change.Now we’re taking this system to the next level: instead of human-implemented recommendations, our AI system is directly controlling data centre cooling, while remaining under the expert supervision of our data centre operators. This first-of-its-kind cloud-based control system is now safely delivering energy savings in multiple Google data centres.It seems likely that more of that sort of approach will be adopted by Amazon Web Services, Microsoft, IBM and other major cloud computing firms. Even with efficiency gains, data center electricity demand is voracious and growing; that growth has a number of implications for the power grid and for power utilities. The first is that many of these major consumers of electricity are also contracting for wind and solar power to meet their demand. The second is that, with many data centers clustering in locations such as Northern Virginia, data center loads are becoming a meaningful share of utility peak demand in a given service territory. Recent BloombergNEF research finds that data centers could make up 15% of Dominion Energy Inc.’s summer peak demand by 2024. Given that data center operators have every incentive to economize on electricity, utilities need to compete to provide service. Preferential — and confidential — contracts for power supply are one way to do that, with the result being that other rate payers bear the cost, as Bloomberg News reported last year. Gains in efficiency don’t mean that data center demand for electricity is going down. Their scale and growth is a testament to their power usage effectiveness. Their preferential contracts for electricity, on the other hand, feel like a testament to their effective usage of a different kind of power: buying power. Weekend readingChevron Corp.’s $10 billion to $11 billion impairment charge, related mostly to its Appalachian natural gas assets, “ushers in oil’s era of the sober-major.” Chevron has also called time on the Kitimat liquefied natural gas export plant in British Columbia, writing off years of development while also planning to sell its 50% stake. Kawasaki Heavy Industries Ltd. has launched the world’s first liquefied hydrogen carrier. Tesla Inc. has lost its third general counsel in the course of a year. Vancouver-based Harbour Air Ltd.’s electric seaplane has taken flight. I looked at the environmental implications of electrifying aviation last month. Stanford University has released its 2019 Artificial Intelligence Index Report. Venture capital fund Piva, funded by $250 million from Malaysia’s Petronas, has launched with a focus on energy and industry. Bloomberg Media will acquire CityLab, a news site covering “urban innovation and the future of cities.” Nomura Holdings Inc. will acquire sustainable technology and infrastructure boutique investment bank Greentech Capital Advisors. Hiro Mizuno, the chief investment officer of Japan’s $1.6 trillion Government Pension Investment Fund, has “embraced ESG principles so enthusiastically” that the fund will not award new mandates to managers without environmental, social and governance credentials. Considering the legacy of Xie Zhenhua, a key architect of the Paris Agreement and China’s climate negotiator for more than a decade. Greta Thunberg is Time Magazine’s Person of the Year. Get Sparklines delivered to your inbox. Sign up here.To contact the author of this story: Nathaniel Bullard at firstname.lastname@example.orgTo contact the editor responsible for this story: Brooke Sample at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Chesapeake Energy (NYSE:CHK) stock has become intriguing again. Investors sold CHK off when management raised "going concern" issues. However, recent debt financing deals have bought it more time.Source: Casimiro PT / Shutterstock.com Such a deal may make a recovery in CHK stock possible. However, recent successes in the oil patch have supplied the market with too much oil and gas. Given this reduced pricing, I would not recommend a speculative play in Chesapeake Energy stock.In the last earnings report, the company called into question its future as "going concern." At that point, I sold my own speculative position, and it has fallen since that time.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe problem for CHK stock is that the oil and gas boom has become a victim of its own success. The United States now produces so much oil and gas that these assets continue to lose value. * These 7 S&P 500 Stocks Will Deliver a Repeat Performance in the Next Decade Chevron (NYSE:CVX) just announced that they would take between $10 billion and $11 billion in write-downs in the fourth quarter as a result. One has to assume that ExxonMobil (NYSE:XOM), EOG Resources (NYSE:EOG), ConocoPhillips (NYSE:COP), and other oil majors could follow suit.The company holds $9.34 billion in long-term debt, a crushing burden for a company with only a $1.5 billion market cap. Falling oil and gas prices and asset write-downs have dimmed the prospects of reducing that debt. Moreover, the move to buy Wildhorse Resources to sell more oil may have backfired as oil prices have also failed to gain traction.That said, the company has again made CHK stock alluring with the latest debt deals. One deal comes in the form of a $1.5 billion, 4.5-year loan facility that retired an existing revolving credit facility worth about $900 million.Under a separate debt agreement, it will issue an additional $1.5 billion in bonds. These will come due in 2025 and carry an 11.5% coupon. They will also finance the retirement of some debts at 62 cents and 70 cents on the dollar.While this appears strange, some of the bonds traded below 50 cents on the dollar, as Dana Blankenhorn pointed out. Hence, these bondholders still benefit. Moreover, these deals buy Chesapeake more time to clean up its balance sheet. All of this has helped take the CHK stock price back up to around 75 cents per share. Chesapeake Energy Stock Has Become a GambleSome stock market detractors refer to investing in equities as "gambling." In most cases, I object to that view. However, that viewpoint may describe CHK stock accurately. I say this because Josh Enomoto's football analogy describes Chesapeake's situation accurately. Not only must they execute a fourth-and-long play flawlessly, factors which the company does not control must also go right.To be sure, a lot could go wrong for Chesapeake Energy stock. The previously-mentioned asset write-downs do not bode well for the industry. Moreover, the U.S.-China trade dispute makes prospects for selling in China tenuous. The falling cost of renewables could also further dampen the demand for fossil fuels. That push for renewables could accelerate further if a Democrat wins the White House in 2020.Investors who feel they can prevail amid the above conditions may choose to buy. A 100% loss of one's investment is a real possibility. However, if Chesapeake's management has run the right play, and some factors that they do not control go right, the returns on CHK stock could run several multiples above 100%. Still, with the risks involved, this is not a move that I encourage. Concluding Thoughts on Chesapeake Energy StockCHK stock has become a gamble with increasingly longer odds. Falling energy prices and statements from management have cast doubts about the future of Chesapeake.The company inspired some optimism with new debt financing deals. However, conditions continue to worsen as energy prices fail to gain traction. Moreover, geopolitical uncertainties and the increased viability of so-called "clean" energy solutions could add to the revenue pressure.If the company manages to clean up its balance sheet, CHK stock will rise exponentially. However, failure could lead to bankruptcy, and external market conditions continue to bode poorly for the company. Given the worsening market environment, I would not recommend a speculative position here.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Worst Dividend Stocks of the Decade * 7 Game-Changing Tech Stocks to Buy Now * 5 Chinese Stocks to Buy for the Big 2020 Rebound The post Even After Its Latest Moves, Chesapeake Energy Stock Is Still Too Risky appeared first on InvestorPlace.
TOTAL (TOT) is set to further expand footprint in the United States. It has decided to develop and invest in two offshore projects in the Gulf of Mexico.
(Bloomberg) -- Oil rose, reversing the previous day’s decline, after the U.S. reached a trade deal in principle with China.Futures gained 0.7% in New York Thursday. American negotiators have reached the terms of a phase-one trade agreement that now awaits President Donald Trump’s approval, a development that eases concerns about a global economic slowdown.“It looks like we may have the miracle of a trade deal after all, though I still think the U.S. will play some hard ball with China, so there’s still some uncertainty over the details of this,” said John Kilduff, a partner at Again Capital. “Beyond the deal, there’s definitely more of a bullish set up now given the OPEC+ deal and tensions in Iran and Iraq.”The trade optimism overshadowed a jump in U.S. fuel inventories that weighed on prices Wednesday. American gasoline inventories surged the most since January as overall product demand slumped to a three-year low, and crude stockpiles increased, according to the U.S. Energy Information Administration.Last week, the 24 producers in the OPEC+ coalition -- led by Saudi Arabia and Russia -- agreed to a package of cutbacks amounting to 2.1 million barrels a day. Still, deeper production cutbacks announced by the group won’t prevent a surplus in early 2020, the International Energy Agency said.West Texas Intermediate for January delivery rose 42 cents to settle at $59.18 a barrel on the New York Mercantile Exchange. Volatility for WTI futures is at the lowest since May.Brent for February settlement rose 48 cents to $64.20 a barrel on the London-based ICE Futures Europe Exchange, after falling 1% to close on Wednesday. The global benchmark crude traded at a $5.14 premium to WTI for the same month.\--With assistance from Robert Tuttle.To contact the reporters on this story: Catherine Ngai in New York at firstname.lastname@example.org;Grant Smith in London at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Catherine Traywick, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Dow Jones strengthened in afternoon trading on reports of a phase-one trade deal with China. Facebook fell on news of a possible FTC injunction.
DOW UPDATE Led by strong returns for shares of Cisco and JPMorgan Chase, the Dow Jones Industrial Average is climbing Thursday afternoon. The Dow (DJIA) was most recently trading 227 points, or 0.8%, higher, as shares of Cisco (CSCO) and JPMorgan Chase (JPM) are contributing to the index's intraday rally.
Chevron Corp on Thursday gave the green light to its Anchor project in the Gulf of Mexico and said the deepwater oilfield would require an investment of about $5.7 billion. "Chevron's sanction of the Anchor project shows that the U.S. Gulf of Mexico still offers attractive investment opportunities for large greenfield developments," said Justin Rostant, an analyst with Wood Mackenzie's Gulf of Mexico team. Chevron, through its unit, holds a 62.86% working interest in the project and is the operator, while Total SA's unit holds the remaining working interest.
Saudi Aramco stock rose 4.6% on Thursday, with its valuation climbing above $2 trillion—the first time any company has hit that mark.
Dividend investors usually focus on companies that have a long track record of increasing their dividends year after year. The companies with at least 25 years of consecutive dividend increases are especially favored by income oriented investors. This is actually not a bad idea as long as these companies continue to increase dividends. However, when […]
Chevron Corp said on Thursday its Anchor project in the Gulf of Mexico would need an investment of about $5.7 billion. Announcing its final investment decision on the planned facility, the oil major said first oil from the field is expected in 2024. Chevron, through its unit, holds a 62.86% working interest in the project and is the operator, while Total SA's unit holds the remaining working interest.
DOW UPDATE Powered by positive growth for shares of Caterpillar and Cisco, the Dow Jones Industrial Average is up Thursday morning. The Dow (DJIA) was most recently trading 153 points (0.6%) higher, as shares of Caterpillar (CAT) and Cisco (CSCO) are contributing to the blue-chip gauge's intraday rally.
Chevron Corp. said Thursday it has sanctioned the Anchor project in the deepwater U.S. Gulf of Mexico, marking the industry's first deepwater high-pressure development to achieve a final investment decision. The Anchor Field is located in the Green Canyon area about 140 miles off the coast of Louisiana, the company said in a statement. The initial investment required is about $5.7 billion, consisting of a seven-well subsea development and semi-submersible floating production unit. The project is expected to produce its first oil in 2024. The facility planned is expected to have capacity of 75,000 barrels of crude oil and 28 million cubic feet of natural gas a day. Chevron said Tuesday it expects after-tax charges between $10 billion and $11 billion in its fourth-quarter results, more than half related to natural-gas bets in Appalachia. The company held its 2020 capital spending plan at $20 billion for the third year, highlighting its "world-class" oil holdings in West Texas's Permian Basin, deepwater Gulf of Mexico, and in Kazakhstan. Shares were up 0.2% in premarket trade Thursday, and have gained 7% in 2019, while the S&P 500 has gained 25%.
Chevron Corporation (NYSE: CVX) announced today it has sanctioned the Anchor project in the U.S. Gulf of Mexico. This marks the industry’s first deepwater high-pressure development to achieve a final investment decision. Delivery of the new technology, which is capable of handling pressures of 20,000 psi, also enables access to other high-pressure resource opportunities across the Gulf of Mexico for Chevron and the industry.
EIA's Weekly Petroleum Status Report revealed that crude inventories rose by 822,000 barrels, compared to the 1.8 million barrels decrease that energy analysts had expected.
Chevron’s $11 billion assets writedown isn’t the first, and will surely not be the last in what could turn out to be a string of assets writedowns caused by low commodity prices and a negative growth outlook
The Federal Reserve met today and, as expected, the central bank didn't reveal an interest rate reduction. Add to that, the takeaway appears to be that the Fed won't cut rates next year, but equities liked that news as stocks posted a decent Wednesday rally.Source: Provided by Finviz * The S&P 500 jumped 0.29% * The Dow Jones Industrial Average added 0.11% * The Nasdaq Composite gained 0.44% * Home Depot (NYSE:HD) was by far the worst performer in the Dow Jones today, shedding 1.7% after the company issued 2020 sales guidance that disappointed analystsAlthough the Fed didn't change interest rates today, the focus on the central bank was a nice change of pace from the trade headlines that have been so dominant in recent days."The Committee judges that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation near the committee's symmetric 2 percent objective," said the Federal Open Market Committee (FOMC) in a statement.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 10 Worst Dividend Stocks of the Decade For those rooting for more rate cuts, such as President Trump, the Fed's comments today probably aren't good news. More importantly, the commentary from the central bank should be seen as positive and, stocks reacted as such, because the Fed sees the U.S. economy on firm enough ground right now that lower borrowing costs aren't necessary.It may take a while for the lack of an imminent rate cut to sink in as a positive, but it was enough to have 17 of the 30 Dow stocks higher in late trading. First, The Bad NewsAs noted above, Home Depot was the Dow's trouble spot today. The home improvement retailer said it expects sales to increase by 3.5% to 4% next year, below the consensus estimate calling for 4.3% growth."We are building on our distinct competitive advantages to capitalize on a large and fragmented market opportunity," said CEO Craig Menear in a statement.Home Depot forecast "diluted earnings-per-share growth of approximately 3.1 percent from fiscal 2018 to $10.03." Shares of Home Depot are down more than 7% this month. Even More Bad News…Chevron (NYSE:CVX), the second-largest domestic oil company, was the second-worst Dow performer today after Home Depot. The oil giant slipped 1.4% after saying it's writing down $11 billion worth of assets."We believe the best use of our capital is investing in our most advantaged assets," said CEO Michael Wirth in a statement. "With capital discipline and a conservative outlook comes the responsibility to make the tough choices necessary to deliver higher cash returns to our shareholders over the long term."Chevron also said it's planning $20 billion in capital expenditures for 2020 -- the third straight year the company has held spending flat at that level. Finally, Some Good NewsApple (NASDAQ:AAPL) was one of the Dow leaders today as another analyst chimed in about the company's leverage to the consumer and the holiday shopping season, including, of course, the iPhone and AirPods.Evercore ISI analyst Amit Daryanani "thinks investors should get ready for the tech giant to return to growth again in 2020. He also sees upside to December quarter sales estimates, given signs of a robust holiday season for AirPods Pro and iPhone 11," reports Barron's. Disney AgainIn talking about Dow stocks and good news, these days it's hard to avoid mentioning Disney (NYSE:DIS). Whether it's at the box office or at its theme parks, Disney is simply a juggernaut, but let's not forget about streaming. The recently unveiled Disney + streaming service is off to a stellar start. * 7 Game-Changing Tech Stocks to Buy Now "Disney+ has been downloaded 22 million times on mobile devices since the launch of the streaming service in November, according to a report by research firm Apptopia," reports Reuters.That's after Disney + landed 10 million subscribers on day one, so its subscriber base has more than doubled in less than two weeks. Bottom Line on the Dow Jones TodayWith the Fed clearly optimistic about the state of the U.S. economy and as the business cycle enters it latter stages, investors may want to consider growth stocks, of which the Dow is home to several."Value has recorded multiple years of underperformance relative to growth and the broader market, and it remains mired in an unfavorable cyclical trend," said State Street in a recent note. "Dissecting the US by sectors also reveals a dichotomy between market leaders and laggards … [g]rowth sectors like Technology, Communication Services, and Consumer Discretionary have all hit all-time highs in 2019."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 5 Best Tech Stocks to Buy For the Next Decade * 4 Beaten-Up Pot Stocks Worth Considering in 2020 * Top 5 Tech Stocks of the 2010s Decade The post Dow Jones Today: Federal Reserve Holds, Boosting Stocks appeared first on InvestorPlace.
Oil and gas producers could wipe billions of dollars off the value of U.S. natural gas assets in the months ahead, analysts said on Wednesday, after Chevron Corp became the fourth oil major to slash its estimates for sector values. A long, steady increase in U.S. gas production – much of it a byproduct of the shale oil boom – has pushed prices for the fuel toward a 25-year low. Nearly half of U.S. gas production is a by-product of oil drilling, and therefore does not change in response to weak prices, analysts said.