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Stock Market & Financial Investment News

News Breaks
May 21, 2014
07:47 EDTHES, CXO, NE, KOG, KEG, VLO, NBL, MUR, MPO, OXYUBS to hold a conference
Oil & Gas Conference to be held in Austin, Texas on May 19-22 with webcasted company presentations to begin on May 21 at 8 am; not all company presentations may be webcasted.Webcast Link
News For KOG;OXY;NBL;NE;MPO;VLO;CXO;MUR;KEG;HES From The Last 14 Days
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July 29, 2015
17:43 EDTMURMurphy Oil sees Q3 production 200,000 boepd
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17:43 EDTMURMurphy Oil reports Q2 adjusted EPS (48c), consensus (55c)
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17:19 EDTNENoble Corp. reports Q2 EPS 64c, consensus 52c
Reports Q2 revenue $794M, consensus $770.08M.
16:42 EDTCXOConcho Resources sees Q3 production 143 -147 MBoepd
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16:41 EDTCXOConcho Resources reports Q2 EPS 38c, consensus 29c
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15:01 EDTVLOValero volatility elevated into Q2 and outlook
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10:17 EDTHESHess raises 2015 production forecast to 360K-370K boe/d
Hess said during its Q2 earning call that in light of its "strong performance year to date," the company is raising its overall company production forecast for 2015 by 10,000 barrels of oil equivalent per day to a range of 360,000-370,000 barrels of oil equivalent per day, excluding Libya. The company added that is production improvement in Q2 was driven by higher production from the Bakken and Utica shale plays, the joint development area of Malaysia/Thailand and Tubular Bells in the Deepwater Gulf of Mexico. Bakken net production averaged 119,000 barrels of oil equivalent per day in Q2, above its guidance range, and Hess is increasing its FY15 production forecast for the Bakken to a range of 105,000-110,000 barrels of oil equivalent per day, up from previous guidance of 95,000-105,000 barrels of oil equivalent per day.
07:37 EDTHESHess Corp. reports Q2 adjusted EPS (52c), consensus (73c)
Oil and gas production was 391,000 boepd, up 23 percent from 319,000 boepd in the second quarter of 2014. Assets contributing to the volume growth were primarily the Bakken shale play, the Utica shale play, the Joint Development Area of Malaysia/Thailand and the Gulf of Mexico. Asset sales reduced production by 9,000 boepd. Lower realized selling prices reduced adjusted net income by approximately $740 million after-tax compared with the prior-year quarter. In addition, second quarter 2015 results benefitted from higher production, lower cash operating costs and reduced exploration expenses that were partially offset by higher depreciation, depletion, and amortization expense. On an unadjusted basis, the Corporation reported a net loss of $567 million for the second quarter of 2015, including a noncash goodwill impairment charge of $385 million, and net income of $931 million in the prior-year quarter.
July 27, 2015
06:20 EDTNEU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
July 24, 2015
10:00 EDTVLOOn The Fly: Analyst Initiation Summary
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07:11 EDTVLOValero initiated with an Outperform at Macquarie
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July 22, 2015
10:01 EDTCXO, NBL, MUR, HESOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
07:54 EDTHESHess Corp. upgraded to Outperform from Neutral at Credit Suisse
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07:54 EDTNBLNoble Energy upgraded to Outperform at Credit Suisse
As previously reported, Credit Suisse upgraded Noble Energy to Outperform from Neutral and increased its price target to $55 from $52. The firm sees several near-term catalysts in DJ Basin with infrastructure additions improving field gathering pressures and completion, and well spacing optimization. Additionally, Credit Suisse said comments buy the Israeli government indicate the Leviathan development opportunity will be sold into premium LNG markets.
07:54 EDTCXOConcho Resources upgraded to Outperform from Neutral at Credit Suisse
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06:26 EDTCXOConcho Resources upgraded to Outperform from Neutral at Credit Suisse
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06:25 EDTNBLNoble Energy upgraded to Outperform from Neutral at Credit Suisse
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06:25 EDTMURMurphy Oil upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse assumed coverage on Murphy Oil with a Neutral rating from an Underperform rating and raised its price target to $47 from $44.
July 20, 2015
17:13 EDTNBLNoble Energy closes acquisition of Rosetta Resources
Noble Energy (NBL) announced that the stockholders of Rosetta Resources (ROSE) overwhelmingly approved the merger of Rosetta into a subsidiary of Noble Energy. The transaction closed following the shareholder meeting and the merger will be effective at the end of the day. In conjunction with the closing, Rosetta will become a wholly owned subsidiary of Noble Energy and Rosetta CEO James Craddock will join the Noble Energy board. Highlights of the acquisition for Noble Energy include: Approximately 50,000 net acres in the Eagle Ford Shale and 56,000 net acres in the Permian; Year-end 2014 proved reserves of 282M barrels of oil equivalent; Current production of approximately 63 thousand barrels of oil equivalent per day; More than 1,800 gross horizontal drilling locations identified for development, with net unrisked resource potential of approximately 1B barrels of oil equivalent; Noble Energy anticipates more than 15% annual production growth to an average of more than 100 thousand barrels of oil equivalent per day in 2018; Substantial operational synergies expected across the combined onshore U.S. portfolio.
08:25 EDTNBLRosetta Resources to host special shareholder meeting
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