It’s like clockwork. Anytime there’s tension in the Middle East it poses a threat to the world’s oil supply, and prices surge accordingly. That’s what we’re seeing this morning for energy stocks like Chevron (CVX) and ExxonMobil (XOM). These stocks are up nearly 6% and 7% respectively in the past week, and they’re up [...]
Exxon Mobil (XOM) reported its second-quarter earnings results that easily surpassed analyst expectations thanks to unprecedented production in the Permian Basin and Guyana. The $9.2 billion in earnings worked out to $2.14 per share for Exxon, a 17% improvement year over year. This was well ahead of the $2.02 analysts were expecting. The performance [...]
Shell Plc (SHEL) announced that it’s anticipating up to a $1.5 billion to $2 billion tax impairment for having to halt its Netherlands biofuels production facility. The divestment of its chemicals refinery in Singapore will play a part in the impairment as well. The Netherlands site could generate as much as 820K metric tons [...]
Hess Corporation (HES), one of the world’s leading energy companies, could be merging with Chevron for $53 billion if all goes well in the shareholder meeting. It would represent one of the largest oil mergers in history. The stock is down more than 6% in the past month as the company’s internal turmoil has [...]
British oil major British Petroleum (BP) is up against a few different challenges right now, ranging from currency fluctuations to a dramatic drop in price for oil and gas. These could take as much as $1.2 billion away from the bottom line in a worst case scenario. However, the company quelled investor fears by [...]
General Electric successfully completed the spin-off of its GE Power business just a few weeks back and listed GE Vernova as its own publicly traded company (GEV). Analysts are already hot on the stock as it received its first upgrade today by J.P. Morgan’s Mark Strouse. He moved his stance from hold to buy [...]
Enphase Energy (ENPH) has fallen more than 14% in the past week as concern surrounding high interest rates continues to mount. This has prompted sharp sell-offs, which include insider selling. Interest rates are at a 23-year high today, and the Fed won’t take action anytime soon as consumer and wholesale inflation are both concerns [...]
By Leslie N. Masonson, MBA Weatherford International plc (WFRD), a Nasdaq-listed company, was incorporated in 1972 in Houston, Texas, where it is currently headquartered. It has $4.98 billion in annual sales and a market capitalization of $6.9 billion. The Company operates in 75 countries with 18,000 full-time employees in 335 operating locations. Weatherford may [...]
Much to the delight of shareholders, Shell (SHEL) announced today that dividends paid out will be increasing going forward. The company was already distributing 20%-30% of cash flow from operations but is boosting that figure up to 30%-40%. This will entail raising the dividend per share for the second quarter by at least 15%. [...]
THE CREAM OF THE CROP Written by: Stan Heller The TSX has announced a new line-up of Venture 50 stocks for 2023. Investors interested in value and growth stocks would be well-advised to keep their eyes on this list in 2023. The TSX Venture 50 list comprises 10 companies from each of these five [...]
