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Stock Market & Financial Investment News

News Breaks
October 16, 2012
13:21 EDTCOP, MUR, PSX, HESHess trades higher after Murphy Oil spin-off news
Hess (HES) is trading up almost 4% in mid-day trading after industry peer Murphy Oil (MUR) announced it will unlock value by spinning off its U.S. fuel making business into a new company. Conoco-Phillips (COP) implemented a similar strategy earlier this year when it spun-off its fuels, petrochemicals and pipeline businesses into Phillips 66 (PSX). Hess, another integrated oil company, operates in two segments: exploration and production, and marketing and refining, making it a potential candidate for a spin off. On September 11, "Mad Money " host Jim Cramer referenced Hess on his show, noting that Hess' exploration and production side of the business is seen as unfocused. At mid-day, Hess is trading up 2.00, or 3.78%, to $54.94.
News For HES;MUR;COP;PSX From The Last 14 Days
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April 30, 2015
09:14 EDTPSXOn The Fly: Pre-market Movers.
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08:05 EDTPSXPhillips 66 says refining portfolio continues to be optimized
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08:02 EDTPSXPhillips 66 reports Q1 adjusted EPS $1.51, consensus $1.43
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07:09 EDTCOPConocoPhillips sees Q2 production 1,555 to 1,595 MBOED
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07:05 EDTCOPConocoPhillips backs FY15 2%-3% production growth view
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07:04 EDTCOPConocoPhillips reports Q1 EPS ex-items(18c), consensus (19c)
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April 29, 2015
17:03 EDTMURMurphy Oil reports Q1 adjusted EPS ($1.11), consensus (87c)
Q1 production averaged near 221,550 boepd, slightly ahead of the company's guidance of 221,000 boepd. Production for Q2 is estimated to be 197,000 boepd.
15:00 EDTPSX, COPNotable companies reporting before tomorrow's open
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15:00 EDTMURNotable companies reporting after market close
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07:40 EDTHESHess Corp. sees initial cost reduction efforts cutting FY15 capex to $4.4B
Capital and exploratory expenditures were $1.3B in Q1, which reflects an average of 12 rigs in the Bakken and increased exploratory drilling expenditures in the Gulf of Mexico, Guyana and Kurdistan. In the first quarter, the corporation aggressively reviewed its cost structure to reduce spending and met with suppliers to adjust service rates to better reflect the current commodity price environment. As a result of the corporationís efforts to date, Hess is lowering FY15 guidance for capital and exploratory expenditures by $300M to $4.4B. In addition, the corporation forecasts its FY15 cash costs will be lower by approximately $250M, or $2.00 per barrel. "The corporation will continue to pursue additional savings in 2015 and beyond to improve its financial flexibility," Hess said.
07:32 EDTHESHess Corp. reports Q1 adjusted EPS (98c), consensus ($1.06)
Oil and gas production increased to 361,000 barrels of oil equivalent per day, compared to 318,000 boepd in the first quarter of 2014. Lower realized selling prices reduced adjusted net income by approximately $700M, after-tax compared with the prior-year quarter. In addition, Q1 results benefitted from higher crude oil and natural gas liquids production but were offset primarily by higher depreciation, depletion, and amortization expense. On an unadjusted basis, the corporation reported a net loss of $389M for Q1 and net income of $386M in the prior-year quarter.
April 28, 2015
17:16 EDTMURMurphy Oil CEO undergoes medical procedure, expected back in office next week
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15:07 EDTHESNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 80c... Time Warner (TWX), consensus $1.09... Mondelez (MDLZ), consensus 38c... NextEra Energy (NEE), consensus $1.27... General Dynamics (GD), consensus $1.95... Lumber Liquidators (LL), consensus 16c... Southern Co (SO), consensus 58c... Anthem (ANTM), consensus $2.66... Praxair (PX), consensus $1.44... Norfolk Southern (NSC), consensus $1.00... Eaton (ETN), consensus 98c... Thomson Reuters (TRI), consensus 45c... Franklin Resources (BEN), consensus 86c... Northrop Grumman (NOC), consensus $2.27... Hilton Worldwide (HLT), consensus 12c... Exelon (EXC), consensus 69c... Humana (HUM), consensus $2.56... International Paper (IP), consensus 80c... Hess (HES), consensus ($1.05)... Level 3 Communications (LVLT), consensus 33c... Starwood Hotels & Resorts (HOT), consensus 57c... Ametek (AME), consensus 63c... Garmin (GRMN), consensus 57c... Quintiles Transnational (Q), consensus 71c... New York Community Bancorp (NYCB), consensus 26c... Spirit Aerosystems (SPR), consensus 92c... Spirit Airlines (SAVE), consensus 96c... Brunswick (BC), consensus 61c... KBR (KBR), consensus 17c... Linn Energy (LINE), consensus (20c)... Cullen/Frost Bankers (CFR), consensus $1.09... WEX (WEX), consensus 99c... RPC (RES), consensus 11c... Hercules Offshore (HERO), consensus (38c).
April 22, 2015
12:13 EDTCOPStone Energy to abandon Harrier prospect in Gulf of Mexico
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10:48 EDTCOPConocoPhillips exploring sale of some North Sea assets, Bloomberg reports
ConocoPillips is weighing the sale of some of its Norway North Sea assets, Bloomberg reports, citing two sources. The oil producer may look to sell stakes in the Aasta Hansteen, Alvheim and Grane fields, assets in Norway that are operated by others, the sources say. Reference Link
10:25 EDTMUR, HESNomura U.S. energy analysts hold an analyst/industry conference call
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10:02 EDTHES, MUROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alcoa (AA) initiated with a Neutral at Cleveland Research... American Electric (AEP) initiated with a Neutral at Guggenheim... American Water (AWK) initiated with a Buy at Guggenheim... Anadarko (APC) initiated with a Buy at Nomura... Apache (APA) initiated with a Reduce at Nomura... Associated Banc Corp (ASB) initiated with a Market Perform at Wells Fargo... Cabot Oil & Gas (COG) initiated with a Neutral at Nomura... Canadian Natural (CNQ) initiated with a Buy at Nomura... Cenovus Energy (CVE) initiated with a Reduce at Nomura... Chesapeake (CHK) initiated with a Reduce at Nomura... Cimarex Energy (XEC) initiated with a Neutral at Nomura... Communications Sales & Leasing (CSAL) initiated with an Overweight at Stephens... Concho Resources (CXO) initiated with a Buy at Nomura... Consolidated Edison (ED) initiated with a Neutral at Guggenheim... Continental Resources (CLR) initiated with a Buy at Nomura... DTE Energy (DTE) initiated with a Buy at Guggenheim... Denbury Resources (DNR) initiated with a Reduce at Nomura... Depomed (DEPO) initiated with an Overweight at Piper Jaffray... Devon Energy (DVN) initiated with a Neutral at Nomura... Dominion (D) initiated with a Buy at Guggenheim... Duke Energy (DUK) initiated with a Buy at Guggenheim... EOG Resources (EOG) initiated with a Buy at Nomura... Edison International (EIX) initiated with a Neutral at Guggenheim... Encana (ECA) initiated with a Buy at Nomura... Entergy (ETR) initiated with a Neutral at Guggenheim... Eversource (ES) initiated with a Buy at Guggenheim... Exelon (EXC) initiated with a Buy at Guggenheim... FirstEnergy (FE) initiated with a Neutral at Guggenheim... Great Plains Energy (GXP) initiated with a Buy at Guggenheim... Hess Corp. (HES) initiated with a Neutral at Nomura... Marathon Oil (MRO) initiated with a Buy at Nomura... Media General (MEG) initiated with a Neutral at Nomura... Medley Capital (MCC) initiated with a Buy at Janney Capital... Murphy Oil (MUR) initiated with a Neutral at Nomura... Newfield Exploration (NFX) initiated with a Buy at Nomura... Newtek Business Services (NEWT) initiated with a Neutral at Ladenburg... NextEra Energy (NEE) initiated with a Buy at Guggenheim... Noble Energy (NBL) initiated with a Reduce at Nomura... Oasis Petroleum (OAS) initiated with a Neutral at Nomura... PG&E (PCG) initiated with a Neutral at Guggenheim... PPL Corp. (PPL) initiated with a Buy at Guggenheim... PSEG (PEG) initiated with a Buy at Guggenheim... Pernix Therapeutics (PTX) initiated with an Overweight at Piper Jaffray... Pinnacle West (PNW) initiated with a Neutral at Guggenheim... Pioneer Natural (PXD) initiated with a Buy at Nomura... RSP Permian (RSPP) initiated with a Buy at Wunderlich... Range Resources (RRC) initiated with a Buy at Nomura... STMicroelectronics (STM) initiated with a Buy at Craig-Hallum... Southern Company (SO) initiated with a Neutral at Guggenheim... Southwestern Energy (SWN) initiated with a Neutral at Nomura... Starz (STRZA) initiated with a Sector Perform at FBN Securities... Stellus Capital (SCM) initiated with a Neutral at Janney Capital... Suncor (SU) initiated with a Buy at Nomura... TECO Energy (TE) initiated with a Neutral at Guggenheim... Tribune Media (TRCO) initiated with a Hold at Jefferies... Ultra Petroleum (UPL) initiated with a Neutral at Nomura... Whiting Petroleum (WLL) initiated with a Neutral at Nomura... Zogenix (ZGNX) initiated with an Overweight at Piper Jaffray... bluebird bio (BLUE) initiated with a Buy at Maxim.
08:44 EDTCOPConocoPhillips updates Angola, Gulf of Mexico drilling results
ConocoPhillips announced the Omosi-1 deepwater exploration well in Block 37 offshore Angola in the Kwanza Basin has been drilled to a total depth of 20,666 feet. A gas column of approximately 525 feet was encountered in the primary objective reservoir. No further activity is planned. The well has been plugged and abandoned. In the deepwater Gulf of Mexico, the Harrier prospect in Mississippi Canyon Block 118 has been drilled to a total depth of 19,400 feet. No commercial hydrocarbons were encountered. The well will be plugged and abandoned. Stone Energy Offshore, L.L.C. was a non-operating co-owner in the Harrier prospect. An after-tax charge relating to the two wells of approximately $142M net to ConocoPhillips will be recorded to dry hole expense in the first quarter of 2015. The total before-tax exploration expense for the quarter is estimated to be $482M, which includes dry hole, leasehold impairment, G&A, and G&G expense.
07:12 EDTMURMurphy Oil initiated with a Neutral at Nomura
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07:12 EDTHESHess Corp. initiated with a Neutral at Nomura
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