There are two big stories to watch in the stock market right now.
One involves the Federal Reserve…
…and the other involves Lyft, Uber, Pinterest, and other tech companies expected to complete initial public offerings (IPOs) in the near future.
First, let’s look at the Fed, which recently announced some changes in their outlook.
Story #1: The Fed
Just three months ago, their forecast indicated we should expect two more interest rate hikes before the end of 2019. Last week, that changed, and the forecast now is for no additional rate hikes this year.
That indicates the Fed believes the economy will slow, and their forecasts for economic growth confirmed that. GDP is now expected to grow 2.1% this year, a cut of 0.2% from the December forecast.
The Fed also announced changes to its plans for drawing down its balance sheet. During the financial crisis, the Fed’s balance sheet increased from less than $1 trillion to more than $4 trillion. In the past year, they have been selling off assets to bring the balance sheet down to a normal level.
Hot Energy Stocks To Own For 2021: WPX Energy, Inc.(WPX)
On December 31, 2011 (the “Distribution Date”), WPX Energy, Inc. became an independent, publicly traded company as a result of a distribution by The Williams Companies, Inc. (“Williams”) of its shares of WPX to Williams’ stockholders. On the Distribution Date, Williams’ stockholders of record as of the close of business on December 14, 2011 (the “Record Date”) received one share of WPX common stock for every three shares of Williams’ common stock held as of the Record Date (the “Distribution”). WPX is comprised of Williams’ former natural gas and oil exploration and production business. Our common stock began trading “regular-way” under the ticker symbol “WPX” on the New York Stock Exchange on January 3, 2012.
Our principal executive offices are located at One Williams Center, Tulsa, Oklahoma 74172. Our telephone number is 855-979-2012.
WPX ENERGY, INC. Advisors’ Opinion:
- [By Joseph Griffin]
Northland Securities reaffirmed their buy rating on shares of WPX Energy (NYSE:WPX) in a research report released on Tuesday. They currently have a $20.00 target price on the oil and gas producer’s stock.
- [By Motley Fool Transcribers]
WPX Energy Inc (NYSE:WPX)Q42018 Earnings Conference CallFeb. 21, 2019, 10:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Matthew DiLallo]
However, oil prices have declined significantly since the company previewed its 2019 plans. That plunge caused several rivals to cut their spending in 2019. WPX Energy (NYSE:WPX), for example, initially expected to invest between $1.45 billion and $1.65 billion in 2019, which was an increase from its $1.3 billion to $1.4 billion range for 2018. WPX Energy has since slashed its budget range down to $1.1 billion-$1.275 billion in response to the decline in oil prices, which have gone from above $70 a barrel in early October to the low $50s in recent weeks.
Hot Energy Stocks To Own For 2021: NOW Inc.(DNOW)
NOW Inc. (“NOW” or the “Company”), headquartered in Houston, Texas, was incorporated in Delaware on November 22, 2013. On May 30, 2014, the spin-off from National Oilwell Varco, Inc. (“NOV”) was completed and NOW became an independent, publicly traded company (the “Spin-Off” or “Separation”). In accordance with a separation and distribution agreement between NOV and NOW, the two companies were separated by NOV distributing to its stockholders 107,053,031 shares of common stock of NOW Inc. with each NOV stockholder receiving one share of NOW common stock for every four shares of NOV common stock held at the close of business on the record date of May 22, 2014 and not sold prior to close of business on May 30, 2014. We filed a registration statement on Form 10, as amended through the time of its effectiveness, describing the Spin-Off, which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on May 13, 2014. Advisors’ Opinion:
- [By Ethan Ryder]
Get a free copy of the Zacks research report on NOW (DNOW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Shane Hupp]
Get a free copy of the Zacks research report on NOW (DNOW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
NOW (NYSE:DNOW) had its target price lifted by equities researchers at Cowen from $12.00 to $15.00 in a report released on Friday. The brokerage currently has a “market perform” rating on the oil and gas company’s stock. Cowen’s target price indicates a potential downside of 10.87% from the company’s previous close.
- [By Matthew DiLallo]
The improvement in the oil industry accelerated in the second quarter thanks to higher crude prices, which in turn fueled demand for oil-field equipment. That trend benefited oil-field equipment distributor NOW Inc. (NYSE:DNOW), driving its revenue and earnings up sharply in what is typically a seasonally slower quarter. Because of that, the company expects strong revenue growth tocontinue for the balance of the year.
Hot Energy Stocks To Own For 2021: Chevron Corporation(CVX)
Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
At December 31, 2012, Chevron owned or had under lease or similar agreements undeveloped and developed crude oil and natural gas properties worldwide. Upstream activities in the United States are concentrated in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming. During the year ended December 31, 2012, average net oil-equivalent production in the United States was 655,000 barrels per day. In 2012, net daily production averaged 163,000 barrels of crude oil, 70 million cubic feet of natural gas and 4,000 barrels of natural gas liquids (NGLs). During 2012, net daily production for the Companys combined interests in the Gulf of Mexico shelf and deepwater areas, and the onshore fields in the region, were 153,000 barrels of crude oil, 395 million cubic feet of natural gas and 16,000 barrels of NGL.
The! Company was engaged in various exploration and development activities in the deepwater Gulf of Mexico during 2012. As of December 31, 2012, it had a 50% working interest in Jack and a 51% working interest in St. Malo Field. During 2013, the Company had 42.9% non-operated working interest in the Tubular Bells Field; 20.3% non-operated working interest in the Caesar and Tonga area, and 15.6% non-operated working interest in the Mad Dog II Project. The Company activities in the mid-continental United States include operated and non-operated interests in properties primarily in Colorado, New Mexico, Oklahoma, Texas and Wyoming. The Company holds leases in the Marcellus Shale and Utica Shale, primarily located in southwestern Pennsylvania, Ohio, and West Virginia, and in the Antrim Shale in Michigan. Other Americas is consistd of Argentina, Brazil, Canada, Colombia, Suriname, Trinidad and Tobago, and Venezuela. Net oil-equivalent production from these countries averaged 230,000 barrels per day during 2012, including the Companys share of synthetic oil production.
Chevrons interests in oil sands projects and shale acreage in Alberta, shale acreage and an LNG project in British Columbia, exploration, development and production projects offshore in the Atlantic region, and exploration and discovered resource interests in the Beaufort Sea region of the Northwest Territories. Average net oil-equivalent production during 2012, was 69,000 barrels per day, consisted of 25,000 barrels of crude oil, four million cubic feet of natural gas and 43,000 barrels of synthetic oil from oil sands. During 2012, the Company held a 20% non-operated working interest in the Athabasca Oil Sands Project (AOSP). In February 2013, Chevron acquired a 50%-owned and operated interest in the Kitimat LNG project and proposed Pacific Trail Pipeline, and a 50% non-operated working interest in 644,000 total acres in the Horn River and Liard shale gas basins in British Colombia; 26.9% non-operated working interest in the Hib! ernia Fie! ld and a 23.6 non-operated working interest in the unitized Hibernia Southern Extension (HSE) offshore Atlantic Canada, and 26.6% non-operated working interest in the heavy-oil Hebron Field, also offshore Atlantic Canada.
In December 2012, Chevron relinquished its 29.2% non-operated working interest in Exploration License 2007/26, which includes Block 4 offshore West Greenland. The Company holds operated interests in four concessions in the Neuquen Basin. Working interests range from 18.8% to 100%. In 2012, the net oil-equivalent production averaged 22,000 barrels per day, consisted of 21,000 barrels of crude oil and four million cubic feet of natural gas. During 2012, two exploratory wells targeting shale gas and tight oil resources were drilled in the Vaca Muerta formation in the El Trapial concession. Chevron holds working interests in three deepwater fields in the Campos Basin: Frade (51.7%-owned and operated), Papa-Terra and Maromba (37.5% and 30% non-operated working interests, respectively). Net oil-equivalent production in 2012 averaged 6,000 barrels per day, consisted of 6,000 barrels of crude oil and two million cubic feet of natural gas.
In Africa, the Company is engaged in upstream activities in Angola, Chad, Democratic Republic of the Congo, Liberia, Morocco, Nigeria, Republic of the Congo, Sierra Leone and South Africa. Net oil-equivalent production in Africa averaged 451,000 barrels per day during 2012. In Asia, the Company is engaged in upstream activities in Azerbaijan, Bangladesh, Cambodia, China, Indonesia, Kazakhstan, the Kurdistan Region of Iraq, Myanmar, the Partitioned Zone located between Saudi Arabia and Kuwait, the Philippines, Russia, Thailand, and Vietnam. During 2012, net oil-equivalent production averaged 1,061,000 barrels per day. In Australia, the Companys upstream efforts are concentrated off the northwest coast. During 2012, the average net oil-equivalent production from Australia was 99,000 barrels per day. In Europe, the Company is engag! ed in ups! tream activities in Bulgaria, Denmark, Lithuania, the Netherlands, Norway, Poland, Romania, Ukraine and the United Kingdom. Net oil-equivalent production in Europe averaged 114,000 barrels per day during 2012.
The Company markets petroleum products under the principal brands of Chevron, Texaco and Caltex worldwide. In the United States, the Company markets under the Chevron and Texaco brands. During 2012, the Company supplied directly or through retailers and marketers approximately 8,060 Chevron- and Texaco-branded motor vehicle service stations, primarily in the southern and western states. Approximately 470 of these outlets are company-owned or -leased stations. Outside the United States, the Company supplied directly or through retailers and marketers approximately 8,700 branded service stations, including affiliates. In British Columbia, Canada, the Company markets under the Chevron brand. The Company markets in Latin America and the Caribbean using the Texaco brand. In the Asia-Pacific region, southern Africa, Egypt and Pakistan, the Company uses the Caltex brand. The Company also operates through affiliates under various brand names. In South Korea, the Company operates through its 50%-owned affiliate, GS Caltex, and in Australia through its 50%-owned affiliate, Caltex Australia Limited.
The Company owns a 50% interest in its Chevron Phillips Chemical Company LLC (CPChem) affiliate. During 2012, CPChem owned or had joint-venture interests in 36 manufacturing facilities and two research development centers worldwide. The Companys Oronite brand lubricant and fuel additives business is a developer, manufacturer and marketer of performance additives for lubricating oils and fuels. The Company owns and operates facilities in Brazil, France, Japan, the Netherlands, Singapore and the United States and has interests in facilities in India and Mexico. Oronite lubricant additives are blended into refined base oil to produce finished lubricant packages us! ed primar! ily in engine applications, such as passenger car, heavy-duty diesel, marine, locomotive and motorcycle engines.
The Company owns and operates a network of crude oil, refined product, chemical, natural gas liquid and natural gas pipelines and other infrastructure assets in the United States. The Company also has direct and indirect interests in other the United States and international pipelines. All tankers in the Companys controlled seagoing fleet were utilized during 2012. During 2012, the Company had 51 deep-sea vessels chartered on a voyage basis, or for a period of less than one year. The Companys the United States-flagged fleet is engaged primarily in transporting refined products between the Gulf Coast and the East Coast and from California refineries to terminals on the West Coast and in Alaska and Hawaii. The foreign-flagged vessels are engaged primarily in transporting crude oil from the Middle East, Southeast Asia, the Black Sea, South America, Mexico and West Africa to ports in the United States, Europe, Australia and Asia. The Companys foreign-flagged vessels also transport refined products to and from various locations worldwide.
During 2012, the Company completed the sale of its Kemmerer, Wyoming, surface coal mine and the sale of its 50% interest in Youngs Creek Mining Company, LLC, which was formed to develop a coal mine in northern Wyoming.Chevron also owns and operates the Questa molybdenum mine in New Mexico. During 2012, it had 160 million tons of proven and probable coal reserves in the United States, including reserves of low-sulfur coal. The Companys Global Power Company manages interests in 11 power assets with a total operating capacity of more than 2,200 megawatts, primarily through joint ventures in the United States and Asia. Chevron Energy Solutions (CES) completed several public sector programs, including a microgrid at the Santa Rita jail in Alameda County, and renewable and e! fficiency! programs for Huntington Beach City School District, South San Francisco Unified School District and Union City, all in California, plus Rootstown Local School District in Ohio. The Companys energy technology organization supports Chevrons upstream and downstream businesses by providing technology, services and competency development in earth sciences; reservoir and production engineering; drilling and completions; facilities engineering; manufacturing; process technology; catalysis; technical computing, and health, environment and safety disciplines.
- [By ]
Last month, Chevron (NYSE: CVX) unveiled plans to acquire Anadarko Petroleum (NYSE: APC) for $33 billion in cash and stock. Anadarko execs signed on the dotted line, agreeing to a $1 billion breakup fee should the deal be scuttled for any reason. That was a mistake, particularly knowing there was another interested suitor.
- [By Garrett Baldwin]
See Now: Our founder just released his No. 1 pick for 2019. Don’t miss this. See the urgent briefing here…
Walt Disney Co. (NYSE: DIS) unveiled its highly anticipated streaming service on Thursday. The service, Disney+, will launch Nov. 12 and cost $6.99 per month or $69 per year. The service will include television shows and films from its extended universe of programming – including the Star Wars and Marvel series. Disney said that all of its new films will be available on the service as soon as their theatrical windows have ended. In merger news, Chevron Corp. (NYSE: CVX) announced plans to purchase Anadarko Petroleum Corp.(NYSE: APC) as the oil major continues to push into the U.S. shale business. Shares of APC popped 32% in pre-market hours after Chevron announced the $33 billion bid. This is the largest energy merger since 2016 after Royal Dutch Shell Plc. (NYSE: RDS.A) purchased BG Group. The news sent shares of companies that operate in the Permian basin in West Texas even higher this morning. Look for other earnings reports from PNC Financial Services Group Inc.(NYSE: PNC) and Infosys Ltd.(NASDAQ: INFY).
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Hot Energy Stocks To Own For 2021: Tengasco, Inc.(TGC)
Tengasco, Inc., incorporated on April 18, 2011, is engaged in the business of exploration for and production of oil and natural gas. The Company’s area of oil exploration and production is in Kansas. The Company’s subsidiary, Manufactured Methane Corporation (MMC) operates treatment and delivery facilities in Church Hill, Tennessee, for the extraction of methane gas from a landfill for eventual sale as natural gas and for the generation of electricity. The principal markets for the Company’s crude oil are local refining companies. The Company holds a working interest in over 210 gross wells.
The Company’s operated properties in Kansas are located in central Kansas and include approximately 180 producing oil wells, approximately 30 shut-in wells and approximately 40 active disposal wells (the Kansas Properties). The Company maintains a working interest in most of its wells and undrilled acreage in Kansas. The terms for most of the Company’s leases in Kansas range from 3 to 5 years. The Company’s gross oil production in Kansas is approximately 160 thousand barrels (MBbl). Its technologies include three-dimensional (3D) seismic imaging utilizing microseismic interpretation for drilling wells. It has approximately 27,000 gross acres under lease containing approximately 14,200 gross acres held by production (HBP) and approximately 12,800 gross acres not HBP in various stages of development.
- [By Logan Wallace]
Tigercoin (CURRENCY:TGC) traded flat against the dollar during the 24-hour period ending at 18:00 PM ET on October 5th. Tigercoin has a market cap of $103,538.00 and approximately $3.00 worth of Tigercoin was traded on exchanges in the last 24 hours. One Tigercoin coin can now be purchased for about $0.0024 or 0.00000036 BTC on major exchanges. Over the last week, Tigercoin has traded 12.4% lower against the dollar.
- [By Stephan Byrd]
Tigercoin (CURRENCY:TGC) traded down 3.5% against the dollar during the 24 hour period ending at 7:00 AM E.T. on August 23rd. During the last seven days, Tigercoin has traded 8.4% lower against the dollar. Tigercoin has a total market capitalization of $98,130.00 and approximately $0.00 worth of Tigercoin was traded on exchanges in the last 24 hours. One Tigercoin coin can now be purchased for about $0.0023 or 0.00000035 BTC on popular exchanges.
- [By Logan Wallace]
Tigercoin (TGC) is a proof-of-work (PoW) coin that uses the SHA256 hashing algorithm. It launched on September 6th, 2013. Tigercoin’s total supply is 43,536,800 coins. The official website for Tigercoin is tigercoin.wordpress.com. Tigercoin’s official Twitter account is @TigerCoin.
- [By Max Byerly]
Tigercoin (CURRENCY:TGC) traded 12.1% lower against the US dollar during the 1-day period ending at 23:00 PM E.T. on May 6th. One Tigercoin coin can now be bought for $0.0077 or 0.00000083 BTC on popular cryptocurrency exchanges. In the last week, Tigercoin has traded 6.4% lower against the US dollar. Tigercoin has a total market cap of $334,680.00 and approximately $64.00 worth of Tigercoin was traded on exchanges in the last 24 hours.
Hot Energy Stocks To Own For 2021: China Petroleum & Chemical Corporation(SNP)
China Petroleum & Chemical Corporation engages in the exploration, development, production, and marketing of crude oil and natural gas properties primarily in China. It operates 16 oil and gas production fields in China. As of December 31, 2010, the company?s estimated proved reserves of crude oil and natural gas consisted of 3,963 million barrels-of-oil equivalent comprising 2,888 million barrels of crude oil and 6,447 billion cubic feet of natural gas. It also engages in the refining of crude oil; marketing and distribution of refined petroleum products; and production and sale of petrochemical products that consist of intermediate petrochemicals, synthetic resins, synthetic fiber monomers and polymers, synthetic fibers, synthetic rubber, and chemical fertilizers, as well as owns and operates oil depots and service stations. The company was founded in 2000 and is based in Beijing, the People?s Republic of China. China Petroleum & Chemical Corporation is a subsidiary of China Petrochemical Corporation.
- [By Reuben Gregg Brewer]
The shares of China Petroleum & Chemical (NYSE:SNP), also known as Sinopec, rose 18% in January, according to data provided by S&P Global Market Intelligence. Not far behind were Canadian oil companies Vermilion Energy(NYSE:VET), with a global asset portfolio, and Suncor Energy (NYSE:SU), a Canadian oil sands specialist, with gains of 16% and 15%, respectively. U.S. based Noble Energy(NYSE:NBL), however, led this international quartet with a 19% leap. Noble’s portfolio is global, but it has a material position in the U.S. onshore drilling space.
- [By Todd Campbell]
The following table highlights the 10 biggest energy companies by market capitalization. Some of these companies operate upstream, midstream, and downstream businesses, but all of them derive the majority of their revenue from upstream operations.
Rank Company Market Cap
1 ExxonMobil $348 billion
2 Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B) $286 billion
3 Chevron (NYSE:CVX) $223 billion
4 Petrochina Co. Ltd. (NYSE:PTR) $218 billion
5 Total SA (NYSE:TOT) $163 billion
6 BP Plc (NYSE:BP) $143 billion
7 China Petroleum (NYSE:SNP) $107 billion
8 Equinor ASA (NYSE:EQNR) $89 billion
9 ConocoPhillips (NYSE:COP) $84 billion
10 Schlumberger Ltd. (NYSE:SLB) $84 billion
Data source: Yahoo! Finance on Sept. 13, 2018.
- [By Ethan Ryder]
These are some of the news articles that may have effected Accern’s scoring:
Get China Petroleum & Chemical alerts:
China Petroleum & Chemical (SNP) and Statoil (STO) Critical Analysis (americanbankingnews.com) Sinopec to Import Record Crude Volumes From United States (finance.yahoo.com) Read This Before Buying China Petroleum & Chemical Corporation (HKG:386) For Its Upcoming $0.4 Dividend (finance.yahoo.com) Chevron (CVX) vs. Sinopec (SNP) Financial Analysis (americanbankingnews.com) Sinopec (SNP) Plans $4.57 Semi-Annual Dividend (americanbankingnews.com)
China Petroleum & Chemical traded down $5.56, hitting $94.22, during trading on Thursday, MarketBeat Ratings reports. The company had a trading volume of 254,400 shares, compared to its average volume of 190,689. The stock has a market capitalization of $125.83 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.29. China Petroleum & Chemical has a 1-year low of $69.60 and a 1-year high of $105.61. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.12.