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Stock Market & Financial Investment News

News Breaks
August 15, 2014
14:32 EDTPAA, SM, SN, MTDR, PVA, SFY, CWEIPemex CEO sees beginning to import U.S. light crude, Reuters says
Emilio Lozoya, the CEO of Pemex, Mexico's state-owned oil company, said the company was "in negotiations with the United States government and of course U.S. companies," about importing light crude from the United States in the next few months, though he declined to name specific companies or likely volumes to be imported, reported Reuters. Companies with Eagle Ford holdings include Sanchez Energy (SN), Clayton Williams (CWEI), Penn Virginia (PVA), SM Energy (SM), Swift Energy (SFY), Matador Resources (MTDR), and Plains All American (PAA). Reference Link
News For SN;CWEI;PVA;SM;SFY;MTDR;PAA From The Last 14 Days
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February 9, 2016
11:18 EDTPAAPlains All American sees FY16 total asset sales $400M-$500M
Sees FY16 transportation adjusted profit/barrel 64c. Sees FY16 facilities adjusted profit/barrel 40c. Sees FY16 supply and logistics adjusted profit/barrel $1.13. Says has no material commitments beyond 2017. Says volumes to be below contracted levels in certain areas. Says FY16 guidance assumes below historical level for supply and logistics segment, says segment has inherent seasonality. Sees FY16 total asset sales $400M-$500M. Comments taken from Q4 earnings conference call.
11:06 EDTPAAPlains All American sees Q1 adjusted EBITDA $570M
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11:05 EDTPAAPlains All American sees FY16 adjusted EBITDA $2.275B
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10:00 EDTPAAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Senior Floating (ACSF) downgraded to Market Perform at Keefe Bruyette... American Science & Engineering (ASEI) downgraded to Hold from Buy at Benchmark... ArcelorMittal (MT) downgraded to Neutral from Overweight at JPMorgan... BioCryst (BCRX) downgraded to Hold from Buy at Jefferies... Brixmor (BRX) downgraded to Underperform from Outperform at RBC Capital... Diana Shipping (DSX) downgraded to Neutral from Buy at Clarksons Platou... Eagle Point Credit (ECC) downgraded to Neutral from Buy at Compass Point... Golden Ocean (GOGL) downgraded to Neutral from Buy at Clarksons Platou... Lukoil (LUKOY) downgraded to Hold from Buy at Deutsche Bank... Memorial Resource (MRD) downgraded to Neutral from Overweight at JPMorgan... Navios Maritime (NM) downgraded to Neutral from Buy at Clarksons Platou... Northstar Realty (NRF) downgraded to Market Perform from Outperform at Keefe Bruyette... Plains All American (PAA) downgraded to Neutral from Buy at BofA/Merrill... Plains GP Holdings (PAGP) downgraded to Neutral from Buy at BofA/Merrill... Qualys (QLYS) downgraded to Neutral from Buy at DA Davidson... Quidel (QDEL) downgraded to Hold from Buy at Canaccord... Randgold (GOLD) downgraded to Hold from Buy at Deutsche Bank... Scorpio Bulkers (SALT) downgraded to Neutral from Buy at Clarksons Platou... Tortoise Energy (TYG) downgraded to Hold from Buy at Stifel... Winnebago (WGO) downgraded to Neutral from Buy at Northcoast.
06:19 EDTPAAPlains All American downgraded to Neutral from Buy at BofA/Merrill
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February 8, 2016
16:15 EDTPAAPlains All American reports Q4 EPS 38c, consensus 46c
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14:28 EDTPAANotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Twenty-First Century Fox (FOX, FOXA), consensus 44c... Plains All American Pipeline (PAA), consensus 46c... Waste Connections (WCN), consensus 47c... Molina Healthcare (MOH), consensus 61c.
10:37 EDTPAAEnergy Transfer leads MLP rout after CFO change
The shares of Energy Transfer Equity (ETE) are plunging after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, the shares of the Master Limited Partnership, or MLP, and a number of peers were downgraded by research firm Robert W. Baird. Master Limited Partnerships are publicly traded partnerships that receive tax benefits and often own oil assets. WHAT'S NEW: Energy Transfer Equity announced that its CFO, Jamie Welch, would step down from the post. According to the company, Welch's departure was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Welch will be replaced by Thomas Long, who is currently CFO of Energy Transfer Partners, L.L.C., which owns the general partner of Energy Transfer Partners, L.P. (ETP), another MLP. STREET RESEARCH: This morning, Baird analyst Ethan Bellamy downgraded nine MLP stocks, including both Energy Transfer names. The analyst said he would remain bearish on the sector until oil prices and high yield bottom. Bellamy expects the sector to be pressured by a number of related factors, including the bankruptcy of exploration and production companies, fund outflows, and macro economic conditions. In addition to ETE and ETP, the analyst downgraded EnLink Midstream (ENLC), ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings (PAGP) to Underperform and cut Antero Midstream (AM), ONEOK (OKE) and Tallgrass Energy GP (TEGP) to Neutral. Addressing the departure of Energy Transfer Equity's CFO, Wells Fargo said it does not think that the CFO's departure indicates any change to the MLP's pending merger with The Williams Company (WMB). The firm added that it has no knowledge of any accounting issues that prompted the CFO to leave. It continues to believe that Energy Transfer Equity will rise over the longer term and it kept an Outperform rating on that stock. It maintained a Market Perform rating on Williams. PRICE ACTION: In early trading, Energy Transfer Equity sank 26% to $5.20, Williams tumbled 24% to $13.03, Oneok dropped 13.5% to $22.10, Plains All American retreated 9.8% to $18.46 and Tallgrass sank 20% to $11.59.
10:00 EDTPAAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: A-Mark Precious Metals (AMRK) downgraded to Neutral from Buy at B. Riley... Antero Midstream (AM) downgraded to Neutral from Outperform at Baird... AstraZeneca (AZN) downgraded to Hold from Buy at HSBC... Baker Hughes (BHI) downgraded to Equal Weight at Morgan Stanley... Brixmor (BRX) downgraded to Neutral from Outperform at Boenning & Scattergood... CBOE Holdings (CBOE) downgraded to Underperform from Outperform at CLSA... Cisco (CSCO) downgraded to Buy from Conviction Buy at Goldman... Citi Trends (CTRN) downgraded to Neutral from Buy at MKM Partners... Commerzbank (CRZBY) downgraded to Underperform from Market Perform at Keefe Bruyette... DexCom (DXCM) downgraded to Neutral from Outperform at Baird... EnLink Midstream (ENLC) downgraded to Underperform from Outperform at Baird... Energy Transfer Equity (ETE) downgraded to Neutral from Outperform at Baird... Energy Transfer Partners (ETP) downgraded to Neutral from Outperform at Baird... Eversource (ES) downgraded to Equal Weight from Overweight at Barclays... Genesis Healthcare (GEN) downgraded to Sell from Neutral at UBS... Givaudan (GVDNY) downgraded to Neutral from Buy at Goldman... HSBC (HSBC) downgraded to Underweight from Equal Weight at Morgan Stanley... Nomura (NMR) downgraded to Hold from Buy at Deutsche Bank... Novo Nordisk (NVO) downgraded to Sell from Neutral at UBS... ONEOK Partners (OKS) downgraded to Underperform from Neutral at Baird... ONEOK (OKE) downgraded to Neutral from Outperform at Baird... PPL Corp. (PPL) downgraded to Hold from Buy at Evercore ISI... Plains All American (PAA) downgraded to Underperform from Outperform at Baird... Plains GP Holdings (PAGP) downgraded to Underperform from Neutral at Baird... Quanta Services (PWR) downgraded to Neutral from Buy at UBS... Ralph Lauren (RL) downgraded to Neutral from Overweight at Atlantic Equities... Sparton (SPA) downgraded to Market Perform from Outperform at Barrington... Tableau (DATA) downgraded to Equal Weight at Morgan Stanley... Tallgrass Energy GP (TEGP) downgraded to Neutral from Outperform at Baird... WisdomTree (WETF) downgraded to Underperform from Market Perform at Keefe Bruyette.
08:15 EDTPAAMLPs downgraded until oil prices and high yield bottom, says Baird
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07:52 EDTPAAPlains All American downgraded to Underperform from Outperform at Baird
February 3, 2016
06:07 EDTMTDRMatador sees FY16 oil production guidance of 4.9M-5.1M barrels
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06:07 EDTMTDRMatador sees FY16 capital budget $325M, FY16 adjusted EBITDA $120M-$130M
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06:06 EDTMTDRMatador reports 2015-end proved oil and natural gas reserves of 85.1M BOE
Matador announced its proved oil and natural gas reserves were 85.1M barrels of oil equivalent at December 31, 2015, an all-time high for the company and a 24% increase from 68.7 million BOE at December 31, 2014. The present value, discounted at 10%, of the estimated future net cash flows before income taxes of Matador's total proved oil and natural gas reserves at December 31, 2015, was $541.6M, as compared to a PV-10 of $1.04B at December 31, 2014, a 48% year-over-year decrease resulting from declines in oil and natural gas prices between the two periods. At December 31, 2015, Matador's proved oil and natural gas reserves were 40% proved developed reserves, as compared to 45% at December 31, 2014. For the year ended December 31, 2015, Matador's proved oil and natural gas reserves were estimated using an average oil price of $46.79 per barrel and an average natural gas price of $2.59 per million British Thermal Unit, a decrease of 49% and 40%, respectively, as compared to an average oil price of $91.48 per barrel and an average natural gas price of $4.35 per MMBtu used to estimate Matador's proved reserves for the year ended December 31, 2014. Proved oil reserves increased 89% to 45.6 million barrels at December 31, 2015, as compared to 24.2 million barrels at December 31, 2014. Including Matador's 2015 total oil production of approximately 4.5 million barrels, Matador effectively doubled its proved oil reserves year-over-year, despite an almost 50% year-over-year decline in the oil price required to be used to estimate proved oil reserves at December 31, 2015. Matador's proved oil reserves in the Delaware Basin increased almost four-fold to 31.4 million barrels at December 31, 2015, as compared to 8.1 million barrels at December 31, 2014, resulting from the Company's ongoing drilling and completion operations in the Delaware Basin. Proved oil reserves comprised 54% of the Company's total proved reserves at December 31, 2015, as compared to 35% at December 31, 2014. Proved natural gas reserves decreased 11% to 236.9 billion cubic feet at December 31, 2015, as compared to 267.1 billion cubic feet at December 31, 2014. The decline in year-over-year natural gas reserves resulted principally from the reclassification of proved undeveloped natural gas reserves to contingent resources, primarily in the Haynesville shale, as a result of the decline in natural gas prices during 2015. As long as the leasehold acreage associated with these previously classified proved undeveloped natural gas reserves is held by production from existing Haynesville wells, however, these natural gas volumes remain available to be developed by Matador or the operator at a future time should natural gas prices improve, drilling and completion costs decline or new technologies be developed that increase expected recoveries. Matador's natural gas reserves comprised 46% of Matador's total proved reserves at December 31, 2015, as compared to 65% at December 31, 2014.
February 2, 2016
06:53 EDTPAAPBF Logistics acquires four east-coast refined terminal from Plains All American
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February 1, 2016
17:50 EDTPAABridgeTex Pipeline extends open season to Feb 15 for new Eaglebine origin
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10:02 EDTSNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:26 EDTSNSanchez Energy downgraded to Neutral from Buy at SunTrust
January 30, 2016
14:52 EDTMTDRMatador to host analyst day
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14:49 EDTMTDRMatador to hold a follow-up conference call to analyst day
Analyst Day follow-up conference call will be held on February 3 at 4:30 pm. Webcast Link
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