|Bid||0.00 x 1100|
|Ask||0.00 x 2200|
|Day's range||59.13 - 59.99|
|52-week range||59.13 - 64.59|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||2.91 (4.61%)|
|1y target est||N/A|
ST. PETERSBURG, Russia—French President Emmanuel Macron drew a spotlight to growing discord between U.S. and European foreign policy Friday, touting a new multibillion investment in Russia by his country’s top oil company and joining President Vladimir Putin in defense of the Iran nuclear deal. Appearing alongside Mr. Putin at Russia’s main economic forum Friday, Mr. Macron said French major Total SA’s estimated $2.6 billion investment in a giant Arctic natural-gas facility would help French energy security and pave the way for closer business ties between the countries. The agreement, which was signed by Total in Mr. Macron and Mr. Putin’s presence Thursday evening, comes amid the White House’s attempts to isolate the Russian economy in response to Mr. Putin’s alleged meddling in U.S. elections and military interventions in Ukraine.
No stocks gained this week in the US integrated energy sector. So we’ll now look at the biggest losses from the sector this week.
Previously in this series, we’ve examined BP’s (BP) stock price, moving average trends, and implied volatility. In this part, we’ll look at BP’s dividend trends.
SA signed a deal Thursday to take a 10% stake in a massive Russian gas project, doubling down on efforts to ship supercooled natural gas from the country’s Arctic peninsula. The move builds on Total’s position in the region, giving it a large stake in a project that is expected to eventually produce 535,000 barrels of oil equivalent a day. The company is already involved in the region’s flagship liquefied natural gas project Yamal and owns a 19% stake in both projects’ majority owner, PAO Novatek.
Jim Cramer shares his rapid-fire take on callers' favorite stocks, including a streaming company he thought would be more threatened by Amazon.
Previously, we looked at BP’s (BP) moving average trends. In this part, we’ll use its implied volatility to forecast its stock price range up until June 29.
Total SA will take 10 percent stake in a multibillion dollar liquefied natural gas project in Russia’s frozen north from Novatek PJSC. Total is aiming to become a key global LNG player, competing with Royal Dutch Shell Plc and Exxon Mobil Corp., after it snapped up assets from Engie SA last year. The world’s biggest oil companies are also promoting cleaner-burning natural gas as they attempt to stay profitable, and relevant, in a world that’s increasingly demanding less polluting fuels.
BP (BP) stock has risen 18% in the second quarter, primarily led by surging oil prices and markets. Meanwhile, WTI has risen 14%, and the SPDR S&P 500 ETF (SPY) has risen 6%.
Cnooc Ltd., the Chinese oil company developing Uganda’s crude finds with Total SA and Tullow Oil Plc, said production at its Kingfisher field will probably start in 2021. Cnooc is likely to bring Kingfisher on stream three years after making a final investment decision, expected later in 2018, according to Likun Kuang, finance manager at Cnooc Uganda Ltd. The field is one of several in the Albertine Graben, an area estimated to hold 6.5 billion barrels of oil, where the government is targeting first production in 2020.
TOTAL S.A. (TOT) signed a natural gas resources development deal with the Government of Oman, while Rex Energy Corporation (REXX) confirmed filing for Chapter 11 bankruptcy protection.
Of the 23 analysts tracking Chevron (CVX), 18 (78%) recommend “buy” or “strong buy,” and five (22%) recommend “hold.” None recommend “sell.” Chevron’s target price has been raised since its earnings release, by: UBS, from $120 to $130 Citigroup, from $133 to $145 Bank of America Merrill Lynch, from $138 to $150
Oil prices closed lower on Friday, after wavering between gains and losses in anticipation of renewed U.S. economic sanctions on Iran. Light, sweet crude for June delivery settled down 21 cents, or 0.3%, at $71.28 a barrel on the New York Mercantile Exchange. President Donald Trump last week pulled the U.S. out of a 2015 international agreement to curb Iran’s nuclear program, setting the stage to reinstate sanctions on the Islamic Republic, a member of the Organization of the Petroleum Exporting Countries.
Oil prices rose Friday, with Brent crude trading close to the $80-a-barrel threshold, in anticipation of renewed U.S. economic sanctions on Iran. July Brent crude (IFEU:LCO=F) rose 30 cents, or 0.4%, at $79.60 a barrel on ICE Futures Europe, after tapping a high of $80.50. On the New York Mercantile Exchange, June West Texas Intermediate crude (CLM18.NYM), the U.S. benchmark, edged up by 6 cents, or 0.1%, to $71.56 a barrel, holding at a 3½ year high.
Brent crude prices pared gains to settle near unchanged after hitting $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has pushed the market to 3 1/2 -year highs. Brent crude, the global oil benchmark, settled up 2 cents at $79.30 a barrel on London’s ICE Futures exchange, having earlier moved past $80, its highest level since November 2014. On the New York Mercantile Exchange, West Texas Intermediate futures settled unchanged at $71.49 a barrel after earlier climbing above $72 a barrel.
Brent crude prices climbed past $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has pushed the market to 3½-year highs. Brent crude (IFEU:LCO=F) , the global oil benchmark, was up 0.8% , or 74 cents, at $80.02 a barrel on London’s ICE Futures exchange, revisiting an earlier move past $80, its highest level since November 2014. On the New York Mercantile Exchange, West Texas Intermediate futures (CLM18.NYM) were up 66 cents, or 0.9%, at $72.14 a barrel.
European leaders said Thursday they will do their utmost to protect the region's companies from the adverse effects of U.S. sanctions on Iran.
Total SA’s decision to stop investing in Iran shows that international companies are going to have trouble doing any business with the Persian Gulf nation, including buying its oil. Continuing to do business in Iran would be too great a risk as Total has large operations in the U.S. and depends on the country’s banks for financing, it said in a statement Wednesday. The comments from Total -- the first Western oil company to sign binding agreements to develop Iran’s oil and gas fields following the end of a previous round of sanctions in 2015 -- illustrate the challenge posed by renewed American restrictions.
LONDON—European firms have started pulling back investment and abandoning commitments in Iran, responding to a decision last week to reimpose broad American sanctions on Tehran by year end. Some shippers of Iranian oil have said they are ceasing to facilitate such trades because of the new sanctions. Insurance companies are studying whether they may have to reduce or stop their underwriting on the Islamic Republic’s shipments.