22 May

Key Energy Industry Updates for May 15–19

WRITTEN BY Rabindra Samanta

How Much Did Weatherford Drop in the Year before May 12, 2017?

In the past year, Weatherford International’s (WFT) stock has fallen 11% as of May 12, 2017. During this period, WFT has also underperformed the VanEck Vectors Oil Services ETF (OIH), which has generated 2% returns.

BP’s Upstream Projects Pipeline: Ready to Spur Production Growth

BP’s (BP) upstream portfolio is positioned for growth with major projects expected to come online in 2H17. The company expects to start up about seven major projects in 2017, including mega Zohr, Khazzan in Oman, and Quad 204. BP expects a considerable rise in cash flows in the second half of 2017 from these new projects.

Did Trump Trade’s Unwinding Halt Marathon’s Rally?

Since April 3, 2017, Marathon Petroleum (MPC) has risen 4%, the highest among its peers. TSO has risen 2%, but VLO and PSX have fallen 4% and 1%, respectively, so far in 2Q17. During this period, the SPDR S&P 500 ETF (SPY), the broader market indicator, has been flat.

Understanding Devon Energy’s Production Volumes

For 1Q17, Devon Energy (DVN) reported total production (USO) (UNG) of 563 MBoepd (thousand barrels of oil equivalent per day), which is ~18% lower when compared with 1Q16. However, on a sequential basis, Devon Energy’s 1Q17 production is ~5% higher when compared with 4Q16. Devon Energy’s total quarter-over-quarter production volumes have been stagnant since 2Q14 and have averaged ~678 Mboepd.

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.