Energy & Utilities

For 2Q17, American Tower (AMT) has reported robust double-digit revenue growth of 15.3%, backed primarily by higher tenant billing growth.

For fiscal 2017, American Tower expects to report property revenues that would be 14% higher on a year-over-year basis, or by $25 million.

For 2Q17, American Tower (AMT) reported adjusted funds from operation of $1.58 per share, meeting Wall Street estimates and topping 2Q16 by 18.8%.

As of June 30, 2017, Devon Energy’s (DVN) total shares shorted (or short interest) stood at ~10.4 million, whereas its average daily volume was ~5.9 million.

The EIA reported that US crude oil production fell by 19,000 bpd (barrels per day) to 9,410,000 bpd on July 14–21, 2017.

The Russian ruble (ERUS) tends to move in line with crude oil prices (USO) (UCO).

Schlumberger’s (SLB) Production segment witnessed the highest revenue growth (17.6% rise) in 2Q17 over 2Q16.

In 2Q16, Marathon Oil (MRO) reported an operating netback of ~$13.45 per boe (barrel of oil equivalent), which is ~41% lower than in 2Q15.

Falling crude oil prices have changed the segmental dynamics within integrated energy companies such as Royal Dutch Shell (RDS.A).

On September 14, 2016, Superior Energy Services (SPN) had an implied volatility of ~51%.

Chevron (CVX) is focusing on expanding its high-return sectors like Petrochemicals, Additives, and Lubricants.

For 2Q16, California Resources (MRO) reported total debt of ~$466 per boe (barrel of oil equivalent) of production.

Chevron’s (CVX) Upstream segment production is poised to grow, with some of the major projects starting up in 2016–2017.

Battered by falling oil prices, the 2Q16 ROE numbers for ExxonMobil (XOM), Chevron, Royal Dutch Shell, and BP were lower than their five-year average historical ROE figures.

Apache owns 307,000 contiguous net acres in its Alpine High play that have been secured over the past 18 months at an average cost of $1,300 a net acre.

On September 7, 2016, Apache (APA) announced a new resource play, Alpine High, in the Delaware Basin of Texas.

A steeper earnings decline compared to the decline in its share price caused Halliburton’s (HAL) PE multiple to expand in 2015.

ExxonMobil (XOM) trades at an 8.1x EV-to-EBITDA multiple and a 20.2x price-to-earnings ratio, both above its peers’ averages.

Schlumberger’s business model is diversified and not overly dependent on any particular line of business, catering to upstream companies’ needs.

Cloud Peak Energy reported positive growth in its 2Q16 EBITDA margins. Cloud Peak Energy’s EBITDA margins came in at 11.1% in 2Q16.

On August 19, Patterson-UTI Energy had an implied volatility of ~40%. Since its 2Q16 results were announced, its implied volatility has fallen from ~45%.

In its organizational structure, Rice Energy, through its GP Holdings subsidiary, and the public hold 35% and 65% limited partner interest, respectively, in Rice Midstream Partners.

RPC is the largest company by market capitalization among our set of select OFS companies. Flotek Industries is the smallest of the lot.

In the past year, Flotek Industries’ (FTK) revenue share generated outside the United States has risen by nearly 10%.

Natural gas futures contracts for September delivery fell by 0.4% and settled at $2.55 per MMBtu on August 11. Natural gas prices tested two-month lows.

Approximately 33% of analysts rate Apache (APA) a “buy,” and 55% rate it a “hold.” The remaining 12% rate it a “sell.”

In this part of the series, we’ll take a look at free cash flow for Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BHI), and FMC Technologies (FTI).

The analysts’ survey shows that six out of the 11 companies surveyed rated HollyFrontier (HFC) as “neutral” or “market perform.”

Approximately 63% of analysts rate Noble Energy (NBL) a “buy,” and 34% rate it a “hold.” The remaining ~3% rate it a “sell.”

Natural gas futures rose ~3.9% on August 3, 2016, compared to the previous session. The gain was caused by weather reports suggesting hotter weather.

Approximately 65% of analysts rate EQT (EQT) a “buy,” and 30% rate it a “hold.” The remaining 5% rate it a “sell.”

In March 2016, Range Resources stock made a higher high for the first time in almost two years. Since January 2016, Range Resources stock has risen a whopping 112%.

Just a couple of weeks after withdrawing from the Hawaiian Electric deal, renewables giant NextEra Energy (NEE) announced its decision to buy Oncor on July 29.

Approximately 73% of analysts rate Anadarko a “buy,” whereas 22% rate it a “hold,” and 5% rate it a “sell.” The average broker target price is $66.50.

Changing oil prices have changed the dynamics for Total’s segments. Although upstream earnings have declined in 2Q16 YoY, they stayed positive in the quarter.

Nine out of ten companies surveyed rated Valero (VLO) a “buy,” “overweight,” or “outperform.”

Valero Energy (VLO) announced its results on July 26, 2016, before the market opened.

Wall Street analysts expect HollyFrontier to post EPS of $0.35, which is 76% lower than its 2Q15 adjusted EPS.

ONEOK (OKE) and ONEOK Partners (OKS) are scheduled to report their 2Q16 results on August 2. Here’s what you need to know.

Natural gas’s (UNG) (GASL) (GASX) implied volatility was 40.0% on July 22, 2016. Its 15-day average implied volatility is 42.5%.