|Bid||124.94 x 1400|
|Ask||124.99 x 800|
|Day's range||124.60 - 125.41|
|52-week range||100.22 - 128.55|
|Beta (3Y monthly)||0.80|
|PE ratio (TTM)||17.29|
|Earnings date||2 Aug 2019|
|Forward dividend & yield||4.76 (3.82%)|
|1y target est||137.67|
As oil prices get volatile, it's imperative to know integrated energy stocks' outlook. Analysts’ mean price targets for Chevron (CVX), Royal Dutch Shell (RDS.A), ExxonMobil (XOM), BP (BP), Total (TOT), and Suncor Energy (SU) suggest that SU has the highest upside potential of 36%. TOT and RDS.A follow with 32% and 29% upside potential. This […]
Production shut-in and loss of imports forced by Hurricane Barry led to the stockpile draw with the world's biggest oil consumer even as lower refinery crude runs capped the decline.
Total SA (TOT) is scheduled to announce its second-quarter results on July 25. Analysts expect the company to post 2% lower earnings YoY in the second quarter.
A small-scale Canadian liquefied natural gas (LNG) plant has signed the country's first binding supply agreement with China, ahead of much larger deals expected to be finalised with operators of bigger new terminals. Privately-owned FortisBC agreed with China's Top Speed Energy Corp to supply 53,000 tonnes from its Tilbury facility in British Columbia as of 2021 for two years. Terminals with export capacity of 24 million tonnes a year (mtpa) are planned in British Columbia by Royal Dutch Shell, Chevron and Pacific Oil & Gas, targeting Asian buyers.
Shale producer Callon Petroleum (CPE) agreed to buy smaller E&P player Carrizo Oil & Gas (CRZO) for $3.2 billion, while McDermott International (MDR) clinched twin contracts from Saudi Aramco.
If the plan to modify Chevron's (CVX) Kitimat facility to an 'all-electric' design materializes, the project will boast the lowest emission intensity among all large-scale LNG projects in the world.
The latest Permian Basin play is a ‘merger of equals’ between Callon Petroleum and Carrizo Oil & Gas, the first after Chevron Corp. lost out in the battle for Anadarko Petroleum Corp.
Jefferies has cut its target prices for integrated energy stocks ExxonMobil (XOM), Chevron (CVX), and Royal Dutch Shell (RDS.A).
(Bloomberg) -- Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.Chevron and its partner Woodside Petroleum Ltd. earlier this year had announced they’d applied to expand the capacity of their LNG project in Kitimat, British Columbia, by as much as 80% to 18 million metric tons a year.That triggered a new federal screening of the project that’s expected to “commence shortly,” according to a July 8 letter filed by Chevron to the provincial environmental assessment office. As part of the fresh round of approvals sought, the project is proposing to become an “all-electric plant” powered by hydroelectricity, allowing expanded capacity without the corresponding increase in emissions of a traditional LNG facility, the letter said.LNG is created by cooling gas to minus 260 degrees Fahrenheit (minus 127 degrees Celsius) in an energy-intensive process typically powered by burning natural gas. Kitimat LNG instead proposes electric motor drives totaling 700 megawatts to run all liquefaction, utility compressors, pumps and fans with hydro-power bought from the provincial utility, according to its revised project description dated July 8. It will have backup diesel power generators on site for emergencies.The proposed plant “will achieve the lowest emissions intensity of any large-scale LNG facility in the world,” according to the project description. Kitimat LNG will produce less than 0.1 ton of carbon dioxide equivalent for every ton of LNG compared with a global average of more than 0.3 ton of CO2 equivalent, according to the document.All-electric LNG plants are still uncommon, according to Alex Munton, principal analyst for Americas LNG at Wood Mackenzie in Houston. The only large-scale, electric-drive LNG plant under construction in North America is Freeport LNG in Texas, he said.Kitimat LNG’s decision to go with an electric design may increase the project’s costs. “If you’re installing turbines that are gas-fired and your fuel is very low-cost gas -- and the outlook for Canadian gas prices if very low long term -- then it’s difficult to beat that using electricity,” said Munton. “But clearly there’s a consideration around carbon taxation and how that affects the economics.” The carbon tax on LNG projects in British Columbia will rise to C$50 ($38) a ton by 2021 from C$40 at present.Chevron and Woodside expect to make a final investment decision in 2022 to 2023 with production starting by 2029, according to the project description. The revised proposal may trigger the need for a federal environmental assessment, according to the document.(Updates with analyst comment starting in sixth paragraph)To contact the reporter on this story: Natalie Obiko Pearson in Vancouver at firstname.lastname@example.orgTo contact the editors responsible for this story: David Scanlan at email@example.com, Carlos Caminada, Catherine TraywickFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Oil tumbled below $60 a barrel as a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland while China fueled concerns about demand growth.Futures closed 1.1% lower in New York, the biggest loss in almost two weeks. With Hurricane Barry now ashore and weakening, drillers have begun restaffing offshore installations in the Gulf. About 69% of crude output remained shuttered, the U.S. government said Monday, down from 73% over the weekend.Chinese government data, meanwhile, showed the world’s second-largest economy slowed to a three-decade low in the second quarter amid a prolonged trade dispute. While prices held near $60 for much of the session, they crossed below that key psychological mark around noon. That triggered automatic selling orders that then accelerated the slide, said Bob Yawger, director of futures at Mizuho Securities USA.Crude has rallied this month thanks to shrinking U.S. stockpiles and rising tensions in the Middle East. Still, there are concerns over the longer term outlook, with OPEC warning of a glut in 2020 while the International Energy Agency points to a surprise increase in oil inventories in this year’s first half.“Near term, the trend is still higher,” Tyler Richey, co-editor at Sevens Report Research in Florida, wrote in a note to clients. “But formidable technical resistance in the mid-$60s and persistent demand concerns due to the trade war will likely prevent prices from making new highs for the year.”West Texas Intermediate for August delivery fell 63 cents to $59.58 on the New York Mercantile Exchange. Brent for September settlement was 24 cents lower at $66.48 on the ICE Futures Europe Exchange and traded at a premium of $6.80 to WTI for the same month.Exxon Mobil Corp. and Chevron Corp. are among companies returning workers to offshore platforms and restarting output in the Gulf of Mexico. The region accounts for 16% of total American crude production, according to the Department of Energy.With Barry’s impact waning, the gasoline “crack" \-- an estimate of profitability for producing the motor fuel -- fell more than 5% on Monday. That further undercut the appeal of WTI, said Thomas Finlon, director of Energy Analytics Group Ltd.“In the final analysis, the storm wasn’t that bad and gasoline cracks are in a huge profit-taking mode," he said.The IEA said Friday that production cuts by OPEC and its allies failed to prevent the return of a surplus in the first half of 2019. China’s gross domestic product rose 6.2% in the second quarter from a year earlier, below the 6.4% expansion in the first quarter.\--With assistance from James Thornhill and Saket Sundria.To contact the reporters on this story: Alex Nussbaum in New York at firstname.lastname@example.org;Alex Longley in London at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Mike Jeffers, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: ConocoPhillips, Exxon Mobil, Royal Dutch Shell and Chevron
If the waivers to operate in Venezuela are discontinued, it is likely to trigger huge losses for Chevron (CVX), which has spent billions in the Venezuelan business.
It's a face-off with a small-market-cap midstream player with a bigger dividend on one side, and an energy giant with a less attractive payout on the other.
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
While China's efforts to increase output may offset production decline from aging oilfields, it is not likely to reduce its dependence on foreign oil and gas imports.
The Strait of Hormuz, where the BP-operated oil tanker was "harassed," is touted as the most important global passageway for transporting crude.
The index endured a turbulent week but gained after the Fed Chair indicated that a rate was likely later this month.