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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 23, 2014
08:00 EDTHESHess Corp. announces sale of Thailand assets for $1B to PTTEP
Hess Corporation announced it has sold its interests in both the Sinphuhorm and Pailin Fields located in Thailand to PTT Exploration and Production Public Company Limited for a total after-tax consideration of approximately $1B, effective July 1, 2013. Together, the two assets produced an average of 17,000 barrels of oil equivalent per day net to Hess in 2013. Hess will use the proceeds from this sale to continue repurchasing shares under its existing $4B authorization.
06:21 EDTHESPTTEP to buy Hess Corp.'s Thailand assets for $1B
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April 22, 2014
07:37 EDTPSXIncreased refiner exporting playing a role in high gas prices, WSJ says
Gasoline futures climbed a bit over 1% a gallon Monday and are up 11% for the year. While gasoline prices often rise ahead of summer, more gasoline being exported by refiners plays a "prominent" role in the current rally, said The Wall Street Journal, citing analysts. Publicly traded refiners include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
April 15, 2014
10:00 EDTPSXOn The Fly: Analyst Downgrade Summary
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09:45 EDTMURMurphy Oil receiving interest for Malaysia assets, Mergermarket says
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08:50 EDTPSXPhillips 66 downgraded to Accumulate from Buy at Tudor Pickering
April 13, 2014
19:44 EDTPSXPhillips 66 halts sale efforts for Irish refinery, Independent says
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April 11, 2014
12:42 EDTCOPOn The Fly: Analyst Upgrade Summary
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07:49 EDTCOPConocoPhillips upgraded at Morgan Stanley
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07:17 EDTCOPConocoPhillips upgraded to Equal Weight from Underweight at Morgan Stanley
April 10, 2014
11:39 EDTCOPConocoPhillips says plans to deliver double digit returns annually
ConocoPhillips reaffirmed its objective to deliver double-digit returns annually to shareholders at its Analyst Meeting held at the New York Stock Exchange. Members of the company’s executive leadership team outlined ConocoPhillips’ goal to consistently deliver 3%-5% compound annual growth in production and margins, with a compelling dividend, from a diversified, high-quality portfolio. In addition to updating analysts on the company’s investment programs and strong financial performance, ConocoPhillips highlighted its substantial U.S. unconventional position and announced an increase of its estimated resource base in the prolific Eagle Ford play. Based on its prime acreage position and technical knowledge, the company has increased its estimates from 1.8 billion to 2.5 billion barrels of oil in place. Production is also expected to increase from current volumes to more than 250 thousand barrels of oil equivalent a day by 2017. The company also affirmed its five strategic priorities to drive long-term performance: Deliver 3%-5% compound annual production growth; Generate 3%-5% compound annual margin growth over the next several years; Offer a compelling dividend; Focus on improving financial returns; Maintain a relentless focus on safety and execution. Over the next several years, ConocoPhillips plans to execute a disciplined capital program of approximately $16B per year and achieve the company’s organic reserve replacement target of more than 100%.

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