DIRS.INFO The most relevant business & tech news

☆ Goldman Sachs says buy oil-stock pullbacks, highlighting a Club name to purchase
▼ + stars: | 2023-03-23 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Goldman Sachs said in a research note Thursday the recent energy sector pullback should be viewed as a reason to buy since that strategy has worked well since late 2020. West Texas Intermediate crude and energy stocks have been under intense pressure in recent weeks on the back of heightened recession fears. Based on that criteria, Goldman has Pioneer Natural Resources (PXD) on its "Americas Conviction List" with a buy rating. Recognizing the ups-and-downs of owning energy stocks, we still believe they should be part of any diversified portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Here's an update on our energy, industrials and materials names in Jim Cramer's Charitable Trust, the portfolio we use at the CNBC Investing Club. In 2022, by contrast, the priority was its variable dividend, which changed quarter by quarter depending on its financial results. The industrial company is one of our more recently added holdings. He also mentioned that Halliburton's top boss, Jeff Miller, has expressed notable conviction that the company's stock price is too cheap. The alternative would be consolidating our holdings to two oil-and-gas producers, along with Halliburton as our third energy stock.

We're buying 150 shares of Coterra Energy (CTRA) at roughly $23.84. One of the biggest commodity stories this year has been the significant decline in the price of natural gas. After peaking at around $10 per million British thermal units back in August, the price of nat gas has pretty much fallen off a cliff. Our other pure exploration and production stocks — Devon Energy (DVN) and Pioneer Natural Resources (PXD) — are far less tied to nat gas. A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, February 10, 2019.

☆ Oil falls 1% as rate hikes loom and Russian flows stay strong
▼ + stars: | 2023-01-30 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File PhotoInvestors expect the U.S. Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by half-point increases by the Bank of England and European Central Bank. The OPEC+ panel meeting is unlikely to tweak output policy, three OPEC+ delegates told Reuters on Monday. OPEC+ could “surprise markets with a small cut”, oil broker PVM said, adding it was unlikely to tweak policy. The world’s biggest crude importer pledged over the weekend to promote a consumption recovery that would support demand.

☆ Oil falls 2% as rate hikes loom and Russian flows stay strong
▼ + stars: | 2023-01-30 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

HOUSTON (Reuters) -Oil prices dipped 2% on Monday, extending losses as looming increases to interest rates by major central banks weighed on demand and Russian exports remained strong. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File PhotoInvestors expect the U.S. Federal Reserve to raise rates by 25 basis points on Wednesday, followed the day after by half-point increases by the Bank of England and European Central Bank. The OPEC+ panel meeting is unlikely to tweak output policy, three OPEC+ delegates told Reuters on Monday. OPEC+ could “surprise markets with a small cut”, oil broker PVM said, adding it was unlikely to tweak policy.

[1/2] Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, U.S., March 24, 2016. Hedge funds and other money managers sold the equivalent of 17 million barrels in the six most important petroleum-related futures and options contracts over the seven days ending on Jan. 10. Investors sold a total of 29 million barrels in the two most recent weeks, after purchasing 103 million barrels in the two weeks before, according to position records published by regulators and exchanges. The net position in middle distillates is 60 million barrels (48th percentile) but the net position in crude is just 301 million (9th percentile). Sluggish output growth from U.S. shale producers, sanctions on Russia's oil exports, China's eventual emergence from the coronavirus pandemic and depleted diesel stocks are all contributing to eventual bullishness about prices.

☆ As child vaccine rates slip, local health officials fight misinformation
▼ + stars: | 2022-12-27 | by ( Lauren Sausser | Kaiser Health News | Lauren Sausser Covers Health Across The South As Part Of Khn'S Southern Bureau. | ) www.nbcnews.com time to read: +9 min

So the Health Department conducted something called an online “sentiment search,” which gauges how certain words are perceived on social media. An analysis conducted by KHN and The Associated Press found local health department spending dropped by 18% per capita from 2010 to 2020. To that end, the health department has partnered with local leaders and groups to encourage vaccinations. — Phil Maytubby, Oklahoma city County health departmentThe more than 3,000 public health departments nationwide stand to benefit from a unified message, he said. In late 2020, the foundation, working with other public health groups, established the Public Health Communications Collaborative to amplify easy-to-understand information about vaccines.

☆ Why everyone thinks a recession is coming in 2023
▼ + stars: | 2022-12-23 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

"Historically, when you have high inflation, and the Fed is jacking up interest rates to quell inflation, that results in a downturn or recession," said Mark Zandi, chief economist at Moody's Analytics. When inflation picks up and the Fed responds by pushing up interest rates, the economy ultimately caves under the weight of higher interest rates." The central bank helped stimulate lending by taking interest rates to zero, and boosted market liquidity by adding trillions of dollars in assets to its balance sheet. It is now unwinding that balance sheet, and has rapidly raised interest rates from zero in March - to a range of 4.25% to 4.5% this month. The Federal Reserve's latest economic projections show the economy growing at a pace of 0.5% in 2023, but it does not forecast a recession.

We're buying 25 shares of Pioneer Natural Resources (PXD), at roughly $233.66 a share. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 150 shares of PXD, increasing its weighting in the portfolio to 1.23% from 1.03%. In that context, we view today's underperformance in energy stocks, relative to the movement in the commodity, as an opportunity to pick up more shares of Pioneer Natural Resources into weakness. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, February 10, 2019.

☆ Diamondback Energy sees U.S. shale oil gains slowing, costs rising
▼ + stars: | 2022-11-08 | by ( Liz Hampton | ) www.reuters.com time to read: +1 min

[1/2] Travis Stice, the CEO of Diamondback Energy, poses for a portrait at Diamondback Energy's headquarters in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford/File PhotoNov 8 (Reuters) - Oil producer Diamondback Energy (FANG.O) said the U.S. shale industry will continue to struggle to expand production at its current pace, with costs of new shale wells likely rising. The aging of oil and gas wells, supply chain bottlenecks and investor focus on shareholder returns have led to slowing U.S. oil output gains, Diamondback Chief Executive Officer Travis Stice told investors on Tuesday during an earnings call. President Joe Biden has criticized companies for not lifting production faster and raking in massive profits as energy inflation hits consumers. Diamondback acquired oil producer FireBird Energy last month, and that it would sell some $500 million in non-core assets by the end of 2023 and use proceeds to cut debt.

☆ Devon Energy's third-quarter beat comes on the back of solid capital discipline
▼ + stars: | 2022-11-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

3Q cash flow Operating cash flow for the quarter increased 32% year-over-year, to $2.1 billion, roughly in line with analysts' estimates of $2.18 billion. Free cash flow grew 31% annually, to $1.48 billion, in line with forecasts of $1.45 billion. Capital allocation At the Club, we pay close attention to cash flow metrics. The strong cash flow realized in the third quarter allowed management to announce a fixed-plus-variable dividend of $1.35 a share. Free cash flow is expected to increase more than 25% on an annual basis.

Brent crude futures fell 3 cents to settle at $92.38 a barrel. read moreThe U.S. dollar index pared losses after the comments, weighing on oil prices. A stronger dollar reduces demand for oil by making the fuel more expensive for buyers using other currencies. "Harker is saying that the war on inflation has just begun," said Phil Flynn, analyst at Price Futures Group in Chicago. The announcement, however failed to ease oil prices, as official U.S. data showed that the SPR last week dropped to their lowest since mid-1984, while commercial oil stocks fell unexpectedly.

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File PhotoSummary China mulls cutting quarantine time for visitors - reportLooming EU ban on Russian oil, OPEC+ cuts supportiveU.S. oil reserve sales plan fails to dampen pricesNEW YORK, Oct 20 (Reuters) - Oil prices edged higher on Thursday on news China is considering easing COVID-19 quarantine measures for visitors, boosting hopes for increased energy demand in the world's top oil importer. Brent crude futures rose 6 cents to $92.47 a barrel by 12:58 p.m. EDT (1658 GMT). China, the world's largest crude importer, has stuck to strict COVID curbs this year, which weighed heavily on business and economic activity, lowering demand for fuel. The announcement, however failed to ease oil prices, as official U.S. data showed that the SPR last week dropped to their lowest since mid-1984, while commercial oil stocks fell unexpectedly.

☆ Oil prices rise on possible easing in China COVID quarantine measure
▼ + stars: | 2022-10-20 | by ( Emily Chow | ) www.reuters.com time to read: +4 min

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. U.S. West Texas Intermediate crude for November delivery (WTI) , which expires on Thursday, rose $1.29, or 1.5%, to $86.84 per barrel. Bloomberg news reported on Thursday that China is considering cutting the quarantine period for inbound visitors to seven days from 10 days, citing people familiar with the matter. "Short of an unlikely shale oil revival, there are few lasting policy measures the Biden administration can use to effective push oil much lower." "EU sanctions on Russian oil imports will likely become the focus of the oil market in coming weeks... We expect Brent oil futures to average $100 per barrel in Q4 2022 on the back of supply disruption from the EU sanctions," Dhar added.

☆ Oil prices mixed amid uncertain demand, supply concerns
▼ + stars: | 2022-10-20 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

REUTERS/Nick Oxford/File PhotoSINGAPORE, Oct 20 (Reuters) - Oil prices were mixed on Thursday as investors balanced caution over tightening supply against concerns that a global slowdown could curb demand. "Oil prices are being whipsawed by a number of drivers in Q4 2022," said Commonwealth Bank commodities analyst Vivek Dhar in a note. Upward pressure though is coming from OPEC+ supply cuts and imminent EU sanctions on seaborne imports of Russian oil and refined production." Global recession concerns and the potential for another aggressive U.S. rate hike were clouding the outlook for oil prices, said CMC Markets analyst Leon Li. "Therefore, oil prices would return to a downtrend after a short-term rebound," he said.

REUTERS/Nick Oxford/File PhotoOct 20 (Reuters) - Oil prices opened mixed in early Asian trade on Thursday as investors balanced caution over tightening supply against lower demand projections. In remarks Wednesday, U.S. president Joe Biden said he plans to sell 15 million barrels of crude oil from the Strategic Petroleum Reserve and repurchase oil if prices fall enough. The reserve release would be the last sale from the planned sale of 180 million barrels of oil announced shortly after Russia invaded Ukraine in February. U.S. crude inventories fell unexpectedly last week - down 1.7 million barrels, weekly government data showed, against expectations for a build of 1.4 million barrels. SPR levels fell 3.6 million barrels to just over 405 million, the lowest since May 1984.

☆ Lawmakers, unions press U.S. airlines to hold off on stock buybacks
▼ + stars: | 2022-09-28 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Nick Oxford/FilesSept 28 (Reuters) - Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week. Register now for FREE unlimited access to Reuters.com RegisterAviation unions launched a campaign in August to pressure airlines against stock buybacks. Airlines for America, a trade group, said airlines are in full compliance with the payroll assistance program. American Airlines (AAL.O) received $12.6 billion, Delta Air Lines (DAL.N) $11.9 billion, United Airlines (UAL.O) $10.9 billion and Southwest Airlines (LUV.N) $7.2 billion. Out of $54 billion, airlines must repay $14 billion, or 26.2% of the funding.

☆ Exxon orders shale stand-down over rash of oilfield worker injuries
▼ + stars: | 2022-09-28 | by ( Liz Hampton | ) www.reuters.com time to read: +3 min

REUTERS/Nick OxfordCompanies Exxon Mobil Corp FollowSept 28 (Reuters) - Exxon Mobil (XOM.N) issued a temporary "stand-down" across its U.S. shale operations last week following back-to-back worker injuries, including one fatality, according to people familiar with the matter. The stand-down follows two worker accidents within days at production sites run by Exxon's shale unit and comes as Exxon is facing multiple negligence lawsuits. In March, a woman was crushed to death at another West Texas site operated by Exxon. Exxon or its shale subsidiary XTO Energy this year have faced at least six negligence lawsuits resulting from injuries in west Texas, according to complaints filed in Harris County District Court in Houston. It separately reported 15 fires at its New Mexico operations, according to the state's oil regulator.

☆ Hedge funds dashed to exit energy positions last week, bank data show
▼ + stars: | 2022-09-24 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. And on Friday, oil prices hit their lowest since January as recession fears gripped world markets. DG Partners is up 5.2% so far this month and 37% for the year, according to a source familiar with the matter. The momentum that fueled a stable upward rise in oil prices has changed, said another manager who oversees more than $100 billion and for compliance reasons wished to remain anonymous. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nell Mackenzie Editing by Mark Potter and Peter GraffOur Standards: The Thomson Reuters Trust Principles.

☆ Hedge funds dashed to exit energy positions last week, data show
▼ + stars: | 2022-09-23 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

REUTERS/Nick OxfordLONDON, Sept 23 (Reuters) - Hedge funds around the world fled positions in energy stocks, bonds and futures last week just in time to miss this week's whipsaw moves in oil, according to data from two banks. It could be a sign that hedge funds, which often discover trading ideas from market trends, are finding it too tough to bring in the kind of paydays they received from the surge in oil prices earlier this year. And on Friday, oil prices hit their lowest since January as recession fears gripped world markets. His firm had an "amazing run" trading energy futures the first quarter but eventually, the trend ended. The momentum that fueled a stable upward rise in oil prices has changed, said another manager who oversees more than $100 billion and for compliance reasons wished to remain anonymous.

☆ U.S. natgas jumps 4% on rising demand, renewed rail strike worries
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Nick OxfordSept 21 (Reuters) - U.S. natural gas futures jumped about 4% to a near one-week high on Wednesday, on forecasts for stronger U.S. gas demand this week than previously expected and renewed worries about a possible U.S. rail strike. A rail strike could boost demand for gas by threatening coal supplies to power plants. Gas prices rose despite expectations gas demand would decline next month when the Cove Point liquefied natural gas (LNG) plant in Maryland shuts for a couple weeks of maintenance in October. Global gas prices have soared due to supply disruptions and sanctions linked to Russia's Feb. 24 invasion of Ukraine. With the coming of cooler autumn weather, Refinitiv projected average U.S. gas demand, including exports, would slip from 92.3 bcfd this week to 89.8 bcfd next week.

Natural gas flares off at a production facility owned by Exxon near Carlsbad, New Mexico, U.S. February 11, 2019. REUTERS/Nick OxfordLONDON, Sept 16 (Reuters) - U.S. shale drillers are struggling to meet strong demand for gas from domestic generators as well as customers in Europe and Asia scrambling for replacement supplies following Russia’s invasion of Ukraine. U.S. generators are burning record volumes of gas because coal-fired units have been retired and drought has limited hydroelectric output in the western states. At the same time, exports are running at record rates as new LNG liquefaction terminals meet soaring demand from importers in Europe and Asia. Even so, hedge funds and other money managers have become progressively less bullish and even slightly bearish on gas prices since April.

Search resuls for: "Nick Oxford"

22 mentions found