14.29 0.00 (0.00%)
After hours: 4:47PM EDT
|Bid||14.29 x 34100|
|Ask||14.47 x 27000|
|Day's Range||14.08 - 14.43|
|52 Week Range||7.55 - 14.98|
|Beta (3Y Monthly)||2.61|
|PE Ratio (TTM)||29.90|
|Forward Dividend & Yield||0.05 (0.39%)|
|1y Target Est||13.75|
China National Petroleum Corporation (CNPC) is advancing a strategic partnership with Brazil’s Petrobras and agreed to cooperate with Norway’s Equinor in oil and gas projects
Suncor Energy’s (SU) short interest as a percentage of its outstanding shares has fallen from 0.42% on July 2 to its current level of 0.28%, implying that the bearish sentiment in the stock has decreased. However, in the same period, Suncor stock has fallen 11.9%.
Chevron (CVX) is selling its interests in Norway, while Petrobras (PBR) entered into a strategic joint venture with Murphy Oil Corporation (MUR) in the Gulf of Mexico.
The current bidding war for a Brazilian gas pipeline system is a reminder of how good this infrastructure company is at making value-creating acquisitions.
On October 5–12, midstream stock Antero Midstream Partners LP (AM) gained the most on our list of energy stocks. The Alerian MLP ETF (AMLP), the smallest decline among major energy subsector ETFs, fell 2.4%. On October 9, Antero Midstream Partners LP announced that “they have entered into a definitive agreement for Antero Midstream GP LP (NYSE: AMGP) (“AMGP”) to acquire all outstanding AM common units, both those held by the public and those held by Antero Resources, in a stock and cash transaction.”
Petroleo Brasileiro SA is now finalizing terms with Engie and the Canadian fund, Caisse de Depot et Placement du Quebec, the people said, asking not to be named because the talks are private. Petrobras then plans to touch base with other groups for a second round of bids that must meet the terms agreed to with Engie.
Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week sold the bulk of its production in the region to mid-cap explorer Murphy Oil Corp. The majors are not leaving the Gulf altogether but they are shifting priorities.
The far-right front-runner in Brazil's presidential election, Jair Bolsonaro, has no plans to privatize oil company Petroleo Brasileiro SA (Sao Paolo:PETR4.SA - News) in the short term if elected, the president of his party told Reuters on Wednesday. Gustavo Bebianno said the sale of Petrobras, Brazil's largest corporation, could still be considered in the medium term, but only after the company had been fully "revitalized" by changing its management.
In the previous part, we looked at the performance of BP (BP) stock compared to oil prices and the broader market in the past month. In this part, we’ll look at the stock’s price forecast for the 22-day period before its earnings release.
In the previous two parts of this series, we looked at BP’s (BP) segmental outlook for the third quarter of 2018. Now we’ll look at BP stock before its third-quarter earnings release.
A hot streak in the oil market is setting off a wave of bets on how high prices can go. With crude prices rallying for four straight weeks, trading of oil options—contracts that give the right but not the obligation to buy or sell—has surged. The number of bullish contracts that pay out if Brent futures surpass $100 a barrel by January—up 19% from the current level—has more than doubled since the beginning of September, data from Intercontinental Exchange analyzed by QuikStrike show.
When Europe opens, euro- and pound-denominated bonds issued by the government and big Brazilian companies could be an option for reacting to the election. The world of available ETFs will also expand and there are also global depositary receipts of companies including state-run oil producer Petrobras and miner Vale in Germany. Some of Brazil’s government dollar-denominated bonds are traded in European exchanges and may see price action.
In this series, we’re ranking four global integrated energy companies—ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP)—based on their estimated earnings growth YoY (year-over-year) in the third quarter. Chevron tops the chart due to the expectation of a massive increase in its earnings. Shell and BP are ranked second and third, while ExxonMobil is last, respectively.
The Zacks Analyst Blog Highlights: Exxon Mobil, Chevron, Royal Dutch Shell, Petrobras and BP