|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||75.59 - 76.30|
|52 Week Range||64.65 - 87.36|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||17.49|
|Forward Dividend & Yield||3.48 (4.33%)|
|1y Target Est||N/A|
Oil has rallied about 40% this year as supply cuts have outweighed concerns about slowing demand growth caused by trade tensions between the U.S. and China. Saudi Arabia and fellow oil producers have to balance their desire to maintain high crude prices with the need to fill any supply gaps caused by rising geopolitical risks in the Middle East and disruptions in Venezuela, Libya and Iran.
A major oil deal between Iraq and Exxon Mobil was "very close" but had been slowed by Exxon's decision on Saturday to evacuate its international staff from the West Qurna oil field, Iraq's Oil Minister Thamer Ghadhban said on Sunday. "But now they are out of the country, why should I run after them?" he said at an oil meeting in Jeddah. Iraqi oil officials say Exxon evacuated all of its foreign staff from the West Qurna 1 field on Friday and Saturday, about 60 people.
The consortium exploring the Kekra-1 well off the coast of Pakistan is ending drilling operations after no reserves of oil and gas were found, a spokesman for Oil and Gas Development Co Ltd, one of the Pakistani partners, said. "The oil exploration well will be plugged and abandoned," said Ahmed Lak, spokesman for state-owned OGDC, part of the group behind the exploration led by Italy's Eni SpA which included Exxon Mobile Corp and Pakistan Petroleum Ltd. No comment was immediately available from Eni, which has operated the exploration licence under a deal signed in 2012.
“This withdrawal may send the wrong message about the situation in Iraq, and that’s something we reject,” Iraq’s Oil Minister Thamir Ghadhban said in a statement on Saturday. The minister sent a letter to Exxon officials seeking clarification about the decision and asking that the workers return to Iraq.
Exxon Mobil's decision to evacuate its foreign staff from the West Qurna 1 oilfield in southern Iraq on Saturday was "unacceptable and unjustified", Iraq's Oil Minister Thamer Ghadhban said on Sunday. "The withdrawal of multiple employees - despite their small number - temporarily has nothing to do with the security situation or threats in the oilfields in of southern Iraq, but it's for political reasons," Ghadhban said in a statement. Exxon Mobil, which has a long term contract to improve the oilfield on behalf of Iraq's state South Oil Company, withdrew all foreign staff, around 60 people, Iraqi officials have said.
The Iraqi military said that a “rocket fell in the middle of the Green Zone” — the area of central Baghdad which holds foreign embassies and government buildings. In a statement, the Iraqi military said the Katyusha rocket, a notoriously inaccurate explosive, caused no casualties.
The other day, the chief executive of a well known global company did something unusual. “It’s definitely true that right now every one of us should think hard about whether or not we need to take a flight,” said Virgin Group CEO, Josh Bayliss.
DUBAI, United Arab Emirates (AP) — The Latest on developments in the Persian Gulf region and elsewhere in the Mideast amid heightened tensions between the U.S. and Iran (all times local):
BASRA, Iraq/DUBAI (Reuters) - Exxon Mobil has evacuated all of its foreign staff, around 60 people, from Iraq's West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. The evacuation came just days after the United States withdrew non-essential staff from its embassy in Baghdad, citing a threat from neighboring Iran, which has close ties to Iraqi Shi'ite militia. Production at the oilfield was not affected by the evacuation and work is continuing normally, overseen by Iraqi engineers, said the chief of Iraq's state-owned South Oil Company which owns the oil field, Ihsan Abdul Jabbar.
BASRA, Iraq (Reuters) - Iraq's oil exports from its southern ports have reached 3.5 million barrels a day (bpd) crude oil as of Saturday, South Oil Company chief Ihsan Abdul Jabbar told Reuters. Exxon ...
Chevron just made a big acquisition attempt that didn't pan out, but Exxon is confident that it doesn't need to go down a similar path.
Crude inventories jumped by 5.4 million barrels in the week to May 10, compared with analyst expectations for a decrease of 1.4 million barrels, the EIA said in its report.
ExxonMobil Corp.'s development of its Permian resources could yield $64B for the state of New Mexico, according to a study conducted for the company.
Annual tax-loss harvesting offers positive and negative aspects for investors. Learn the ins and outs of this taxing and yearly reaping process.
Leading the Apple (NASDAQ:AAPL) rumor mill today is news of . Today, we'll look at that and other Apple Rumors for Thursday.Fortune 500: Apple takes the third spot on the most recent Fortune 500 list, reports Fortune. The list has tech company sitting in the third position with revenue of $265.595 billion for 2018. This has it moving up one position from where it was ranked in the previous year's list. The companies that are above it on the list are Walmart (NYSE:WMT) at 1 and Exxon Mobil (NYSE:XOM) at 2.Steam Link: Owners of iOS devices can finally download the Steam Link app, MacRumors notes. This app allows users to stream games from their computers to the mobile devices. It's been around on Android for some time now, but was delayed on iOS. This was likely due to AAPL rejecting the app over it granting access to the another store from within the app. This goes against App Store guidelines.InvestorPlace - Stock Market News, Stock Advice & Trading TipsChina Boycott: Calls for boycotting Apple goods are heating up in China, reports AppleInsider. These calls for a boycott are coming from users online that are unhappy about the trade war between the U.S. and China. The calls are on the rise after President Donald Trump increased tariffs on many Chinese goods last week. Initial calls for boycotting AAPL started back in December 2018 and are picking up steam again with the tariff increase.Check out more recent Apple Rumors or Subscribe to Apple Rumors : RSS As of this writing, William White did not hold a position in any of the aforementioned securities. Compare Brokers The post Thursday Apple Rumors: Apple Ranks 3 on Fortune 500 List appeared first on InvestorPlace.
Iraq has contingency plans for any stoppage of Iranian gas imports for its power grid but hopes no such disruption will take place, Oil Minister Thamer Ghadhban said on Thursday. Iraq relies heavily on gas from Iran for its electricity supply, which is stretched during hot summer months.
Are ExxonMobil, Chevron, Shell, and BP on the Rise in Q2?(Continued from Prior Part)Integrated energy stocks’ valuationIn this article, we’ll evaluate the forward valuations of integrated stocks ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell
Hungarian Foreign Minister Peter Szijjarto said on Wednesday his country would again turn to Russia for natural gas supplies if Exxon Mobil Corp has not decided by September whether to invest in a massive Black Sea offshore project. Romania's Black Sea reserves pose a potential challenge to Russian Gazprom's dominant role supplying Central and Eastern Europe, according to consultancy Deloitte. "Exxon Mobil can be the game changer in the energy supply of Europe.
When science teacher Diana Allen set out to teach climate change, a subject she'd never learned in school, she fell into a rabbit's hole of misinformation: Many resources presented online as educational material were actually junk.
It may seem like the outlook of Chesapeake Energy (NYSE:CHK) stock is becoming more favorable. Oil prices are higher, the early returns from CHK's recent acquisition are solid, and its last couple of quarterly results have looked decent at worst.Source: Chesapeake EnergyBut all that has done little for CHK stock, which continues to trend in the wrong direction.The recent fade of CHK stock only adds to the long-held frustrations of the owners of CHK. Chesapeake Energy stock has looked attractive for most of the last three years; I've recommended it myself on several occasions, while also highlighting the many risks posed by CHK stock.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Retirement Stocks That Won't Wilt in a Bear Market And Chesapeake Energy stock has made gains from time to time, climbing from $3 to $5+ last year, and doubling off its late December lows in the first part of 2019.Once again, however, CHK stock hasn't been able to hold its gains. And it's worth wondering when, if ever, that will change. The Case for Chesapeake Energy StockIn mid-2014, the shale bubble started to burst, and CHK stock was hammered. It was valued at $30 in mid-2014; in less than two years, CHK traded below $2 as bankruptcy rumors swirled.Since then, debt has been a big part of the contentions on Chesapeake Energy stock, by both sides. Bears and skeptics argue that CHK is one more oil price downturn away from bankruptcy fears returning. But in any case, the debt continues to weigh on the company and on CHK stock, limiting its ability to be as aggressive as it would like to be.For bulls, particularly from a valuation standpoint, the debt is a plus. CHK has a market cap of about $4 billion, which combined with that $10 billion in debt gives it an enterprise value of $14 billion. If one values Chesapeake's business at $1.4 billion, the value of CHK stock would jump 35% to $5.4 billion.So, fundamentally, the volatility of CHK stock makes some sense. And the recent downturn to $2.44 makes Chesapeake Energy stock more attractive, at least on paper. Another debt refinancing has pushed out maturities, giving the company breathing room. CHK continues to shift toward higher oil production, away from its legacy focus on natural gas, even as optimism toward U.S. shale oil is rising.CHK's acquisition of Wildhorse Resource Development seems to be a solid move, as I wrote when the deal was announced. It provides a larger asset base to back the debt - and more earnings to pay it off. And the company has shifted capital expenditure dollars to the Powder River Basin, where its acreage is performing exceedingly well at the moment.It seems like Chesapeake Energy itself is making progress. Yet Chesapeake Energy stock, save for the December bounce, isn't. Is This Time Different for CHK Stock?There are two broad issues at play when it comes to CHK stock. The first is that even with the recent bounce in oil prices, exploration and production stocks aren't doing all that well. Chesapeake Energy stock has lost about 28% of its value over the past year; but that performance is about average for its sector . Oil prices have fallen over that stretch, weighing on the sector's stocks.The second is that investors' patience with CHK stock likely is running out. Every Chesapeake earnings report seems to highlight CHK's potential. But its results simply haven't improved.Chesapeake has been targeting positive free cash flow for years, but it hasn't achieved that goal and probably won't this year. CHK has predicted that its adjusted EBITDAX (earnings before interest, taxes, depreciation, amortization, and exploration expense) will come in at $2.55 billion-$2.75 billion. But its interest expense of $500 million-plus and its expected capital expenditures of $2.1-$2.3 billion more than offset that.Chesapeake has been promising to pay down its debt for years. At the end of 2015, its long-term debt was $10.35 billion. CHK's debt is now nearly $10 billion, thanks to debt it assumed as part of the Wildhorse deal.The problem with the company's fundamentals, and with CHK stock, is that on paper, there's reason for optimism, but in practice, that optimism never seems to last. The Bottom Line on CHK StockSo what should investors do with Chesapeake Energy stock,? That's a tough question.On paper, bulls' contentions make some sense. And one thing CHK stock has proven is that it can bounce, even if those bounces soon fade. Certainly, nimble traders likely have done well with CHK, and that may be the case going forward as well.For investors, however, the decision is a little tougher. The acquisition of Anadarko Petroleum (NYSE:APC) by Occidental Petroleum (NYSE:OXY) could lead to more M&A activity in U.S. shale. But Chesapeake, given its huge levels of debt, probably won't become a takeover target.Even with Chevron (NYSE:CVX) likely on the prowl after losing out on Anadarko, and majors like Exxon Mobil (NYSE:XOM) potentially looking for shale assets, there are reasons for them to pass on CHK, at least in the near-term. And with the sector's stock prices still down over the past year, there are other, less-indebted, names that might be worth considering.I'm personally not ready to abandon my long-term bullishness on CHK stock just yet. But at a certain point, it's too difficult to keep fighting the tape. CHK stock has become a "show me" stock at this point, and other stocks seem to be better choices right now.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post What Will It Take to Finally Move Chesapeake Energy Stock Higher? appeared first on InvestorPlace.
Are ExxonMobil, Chevron, Shell, and BP on the Rise in Q2?(Continued from Prior Part)Short interest in integrated energy stocksShort interest in ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP) have seen mixed trends since