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Posts Tagged ‘oil stocks’

Oil earnings expected to disappoint starting with BP tomorrow and then continuing with ExxonMobil and Chevron on Friday

The oil supermajors--ExxonMobil (XOM), Chevron (CVX),Royal Dutch Shell (RDS), Total (TOT) and BP (BP)--are expected to show a 42% year over year average plummet in third quarter earnings when they report earnings this week. That's an even bigger slump than the 18% drop in oil pries during the period. You can expect oil company CEOs […]

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Parsley Energy deal shows that low oil prices bring another twist to Permian acquisitions

Low oil prices mean low oil stock share prices mean the ability of mid-range producers to acquire smaller producers in the low cost, prolific Permian Basin is increasingly limited. Take Parley Energy's (PE) deal to acquire Jagged Peak Energy (JAG). At the Friday price for Parsley Energy, the all-stock deal priced Jagged Peak shares at […]

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I added Parsley Energy to my Jubak Picks Portfolio back on April 17–but neglected to post it to the portfolio

Back on April 17, I made Parsley Energy (PE) my first disruption in the oil sector pick in my Special Report on Disrupted Sectors. I didn't actually post that pick to the portfolio, however, and this post, excerpted from the Special Report, is a fix for that error. Parsley Energy traded at $20.83 on April […]

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Pioneer cuts workers and market cheers: Window dressing for a sale?

Today, May 21, Pioneer Natural Resources (PXD) announced that it would lay off 230 workers at its headquarters and in Permian Basin offices. Added to the 300 employees who took buyouts earlier this year, the total cuts amount to about 20% of the company's workforce. The company projects cost savings of $100 million. So why […]

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Pioneer Natural Resources gains on earnings beat, production increase, and asset sales

A complicated but very positive quarter for Pioneer Natural Resources (PXD.) The stock, a member of my long-term 50 Best Stocks Portfolio, climbed 3.92% today to $153.77. First, after the close on May 6, the company announced earnings of  $1.83 a share, 20 cents a share better than Wall Street projections. Revenue climbed 12.2% year […]

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Buffett gets paid to turn Chevron/Occidental battle over Anadarko upside down–but what about Occidental shareholders?

Occidental Petroleum (OXY) has brought Warren Buffett and Berkshire Hathaway (BRK.A) into its battle with Chevron (CVX) for control of Permian-Basin-rich Anadarko Petroleum (APC). Up until the entry of Buffett, Chevron had the inside edge even though it had offered a lower price of $33 billion in cash and stock for Anadarko. That company's board […]

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Renewed bid from Occidental for Anadarko adds heat to Permian M&A

The battle for control of Anadarko Petroleum (APC) and its huge position in the oil shale geologies of the Permian Basis isn't over. Yesterday, Wednesday,  Occidential Petroleum (OXY) made a renewed bid to acquire Anadarko. The 50%/50% stock and cash offer from Occidental would value Anadarko at $38 billion. Chevron's offer of 75% stock and 25% […]

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U.S. oil rig count falls again, leading to slight gain for oil prices

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Bonus Special Report: 5 Profit Winners from Disrupted Sectors–# 1 Parsley Energy

When I set out to research and write my recent Special Report Five Sector Facing Disruption That Could Crush Your Portfolio I wanted to focus on the "destruction" side of the process of "creative destruction" that makes up economic growth in our capitalist system. The "destruction" side gets relatively less attention than the "creative" until […]

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Permian goes from tepid to red hot again on Chevron bid for Anadarko

Chevron (CVX) has agreed to buy Anadarko Petroleum (APC) for $33 billion in cash and stock. On the news shares of Anadarko are up 32.5% to $61.85. Shares of Chevron are off 4.91% to $119.81. Measured by oil and natural gas production, the deal puts Chevron neck-and-neck with ExxonMobil (XOM) and Royal Dutch Shell (RDS). Measured […]

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