Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Exxon"


25 mentions found


That works out to a 31.2% return on total average short interest of $973.6 billion throughout the year, according to S3 Partners. Stanphyl Capital portfolio manager Mark Spiegel, who has been short Tesla "constantly, in varying size" since 2014, said a bet against Tesla was his fund's most profitable individual short position this year. While higher interest rates have punished growth stocks, some investors believe Tesla CEO Elon Musk's purchase of Twitter is diverting his time running the electric car company. Long-short hedge funds, which bet on stock prices rising or falling, posted a 9.7% loss through November, according to data provider HFR. Charles Lemonides, portfolio manager at $226 billion hedge fund ValueWorks LLC, believes tight monetary policy will weigh on risk appetite next year.
Tesla shares tumble, on track for worst month ever
  + stars: | 2022-12-22 | by ( Noel Randewich | ) www.reuters.com   time to read: +2 min
Dec 22 (Reuters) - Tesla Inc (TSLA.O) shares are on track for their worst month ever as a sell-off deepened on Thursday over worries about softening demand for electric cars and Chief Executive Elon Musk's distraction with Twitter. Tesla's stock has tumbled 36% so far in December, putting it on track for its worst ever monthly performance. By comparison, Tesla's shares dropped 22% in March 2020, when the coronavirus pandemic tipped financial markets into a tailspin. Musk has also sold almost $40 billion worth of his Tesla shares this year, adding to pressure on the stock as investors worry he could sell more to keep Twitter afloat. Tesla's market cap vs analyst price targetsReporting by Noel Randewich; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.
The S & P 500 has shed more than 18% on the same basis, and the Nasdaq Composite is down more than 32% . It's rare that the Dow would beat out the S & P 500 on a total-return basis at all. "Over time, the Dow correlates with the S & P 500," said Howard Silverblatt, senior index analyst for S & P Dow Jones Indices. On the flipside, large tech names in the S & P 500 have done much worse. In addition, Wall Street analysts say it is unlikely that the Dow will again outperform the S & P 500 in 2023.
The S&P 500 is down about 19% on the year, and those losses could spill over into the new year if stocks don't see the usual holiday rally. But if the S&P 500 misses that final rally, that bodes poorly for rebound odds in 2023. The lack of a holiday rally so far suggests that more rocky markets await when the calendars change. Recall that while the S&P 500 tumbled 37% in 2008, it rebounded 26% in 2009. What's your stock market outlook for 2023?
NEW YORK, Dec 21 (Reuters Breakingviews) - Meta Platforms (META.O) is the tale of two companies, tied together only by their potential to sell advertising and their owner Mark Zuckerberg. But cash flow from Meta’s operations alone – mostly the business without spending on the metaverse – would represent a yield of 15%. That’s three times the free cash flow yield of consumer giant Procter & Gamble (PG.N), and more than oil major Exxon Mobil (XOM.N), which had a banner 2022. Rather than make Meta shareholders collectively pay for Zuckerberg’s ambitions, he could fund them himself through dividends from the parent company. If Meta were smaller, or the metaverse were a separate company, it might not attract the same attention.
Tesla's valuation is now less than Exxon Mobil amid the electric-vehicle leader's worst stock slump ever. The record plunge in Tesla stock has brought the valuation of the electric car company below oil giant Exxon Mobil's. On Wednesday, Tesla's market cap was $436 billion compared to $445 billion for the oil giant. Tesla stock is enduring its worst sell-off since it debuted in public markets in 2010. Meanwhile, Exxon recently posted record quarterly earnings and is lavishing a $50 billion stock buyback on investors.
Exxon has yet to set any 2030 Scope 3 target. Shell said it believed its targets are aligned with the U.N. climate targets. We remain committed to constructive engagement with our investors," a Shell spokesperson said in a statement. The group of investors co-filing the resolutions includes Edmond de Rothschild Asset Management, Degroof Petercam Asset Management and Achmea Asset Management. Exxon and Chevron have in the past successfully blocked attempts to file climate resolutions with the Securities and Exchange Commission.
Club holding Amazon (AMZN) price target cut to $150 per share from $170 at Evercore ISI. Piper has an odd number cut on Exxon (XOM), not a Club stock, even though very positive. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Here are Monday's biggest calls on Wall Street: Morgan Stanley names Microsoft a top 2023 pick Morgan Stanley said it sees accelerating earnings per share growth for Microsoft in 2023. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley raised its price target on Netflix to $275 per share from $250 but said the valuation has come too far too fast. Telsey names Amazon a top 2023 pick Telsey said the e-commerce giant will continue to gain share in 2023. " Morgan Stanley names Formula One Group a top 2023 pick Morgan Stanley said the company is top beneficiary in the rising popularity of auto racing. Goldman Sachs names SolarEdge a top 2023 pick Goldman said shares of the solar company are attractive heading into next year. "
Pete Santoro is a fund manager and investment chief at Invesco who focuses on dividend stocks. His brief includes a management slot in the firm's Dividend Income Fund, which went through a real turnaround not long after he joined. "I think investors are rediscovering the financial benefits of dividend-paying stocks in a market that is favoring income over riskier growth companies," Santoro told Insider in a recent interview. Dividend investing strategy in a volatile marketSantoro, like many dividend-focused experts, says it's not enough to buy shares of companies that pay high-percentage dividends. "We believe investors should focus on quality companies with growing free cash flows, growing dividends, and capital discipline," he said.
Marathon, and Valero's market valuations reached record highs in 2022; while Phillips 66 and PBF's are near highs reached in 2019. LESS CAPACITY, MORE PROFITSWhen the pandemic hit, big U.S. refiners closed numerous facilities that were less profitable than other operations. Processing capacity is expected to increase by 1 million bpd per day in 2022 and 1.6 million bpd in 2023, mostly in Africa, Asia and the Middle East. The margins to produce gasoline were consistently higher throughout 2022 than in the last several years as a result of the Ukraine war. A series of closures have caused U.S. processing capacity to decline even as refiners have become more profitable.
Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. "Shareholders don't want to hear it, but you really have great difficulty selling a company at a good price today," the widely followed activist investor Icahn told Insider. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.
MELBOURNE, Dec 15 (Reuters) - Australia's parliament on Thursday passed legislation setting a price cap on natural gas for one year and providing A$1.5 billion ($1.03 billion) in relief for households and small businesses hit by soaring energy costs due to Russia's war in Ukraine. The price cap will apply to new wholesale gas sales by east coast producers. The law also clears the way for the government to regulate gas sales when producers and buyers fail to agree on a contract price. The price cap met with fierce opposition from the gas industry but was supported by manufacturers and the Australian Workers' Union. Mining billionaire Andrew Forrest's private firm Squadron Energy, building a liquefied natural gas (LNG) import terminal, urged the government to require Queensland gas producers to make LNG available for the domestic market at "reasonable prices".
Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. That means that the sale of companies like Southwest Gas is off the table for the time being — or will get done at prices far lower than before. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.
Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.
Dec 11 (Reuters) - U.S. energy envoy Amos Hochstein described the refusal of the country's shale investors to ramp up drilling as "un-American" in an interview with the Financial Times on Sunday. "You want to pay dividends, pay dividends. You want to pay shareholders, pay shareholders. We are asking you to increase production and seize the moment", the FT quoted him as saying. Biden has repeatedly called on U.S. oil and gas companies to use their record profits to increase production and reduce fuel prices for Americans.
SYDNEY, Dec 12 (Reuters) - Australian Prime Minister Anthony Albanese said on Monday he would speak this week with the gas industry lobby, which is seeking an urgent meeting over the government's plan to cap gas prices for one year. "We'll meet with them when we meet with them this week," Albanese told ABC Radio. The prime minister did not specify if he would meet the gas producers before the legislation is introduced in the parliament. Parliament will hold a special session on Thursday to vote on the plan to cap gas prices at A$12 ($8.14) per gigajoule and coal prices for power producers at A$125 per tonne. The move, announced late Friday, comes amid soaring energy prices that have resulted in windfall profits for miners and gas producers.
The companies mentioned in the report did not return requests for comment. Internal documents also showed oil executives privately admitting that divesting, or moving around the accountability of emissions, will not have a meaningful impact on overall emissions levels. The report comes after Democrats lost control of the House in the 2022 midterm elections, and with it the ability to direct House Oversight investigations. Khanna said the millions of documents acquired by the committee will be handed over to those with more resources who can act on the information. “You can’t expect a House subcommittee to go up against oil companies that have been misleading American public for 40 years and all of a sudden have accountability.
A new corporate tax on stock buybacks hasn’t worried finance chiefs enough for them to rethink their strategy. For Bolingbrook, Ill.-based Ulta Beauty Inc., a maker of beauty products, the impact of the tax will be minimal, finance chief Scott Settersten said. The company’s board in March authorized a new buyback program that enables Ulta Beauty to repurchase up to $2 billion in shares. It is set to be levied on net buybacks, meaning total shares repurchased minus new shares issued during the year. SHARE YOUR THOUGHTS How will the new tax on stock buybacks affect company repurchase plans in the years ahead?
Organizations: & $
JPMorgan equity strategists recommend a tactical trade out of energy stocks because the sector has gained 60% so far this year and crude oil prices are now lower in 2022. Energy stocks rallied this year, with expectations for much higher oil prices. Yet, energy stocks remain sharply higher. "We believe that there is a tactical trade to sell energy stocks (either outright or relative to oil). The Energy Select Sector SPDR Fund , which represents the S & P energy sector, was up 52% for the year, as of Thursday's close.
A pair of Democratic lawmakers on Friday accused the largest oil companies in the United States of "greenwashing" their public image and not doing enough to decarbonize fast enough to meet climate change targets. These efforts are particularly offensive, Maloney and Khanna said, because of the amount of money the biggest oil companies are making right now. Burning natural gas produces about 117 pounds of carbon dioxide per million British thermal units (a measure of heat). That's compared with 200 pounds for coal and 160 pounds for fuel oil. Equally critically, the production of natural gas results in leaks of methane all throughout the production process and methane is a greenhouse gas, too.
CNN —Big Oil companies have engaged in a “long-running greenwashing campaign” while raking in “record profits at the expense of American consumers,” the Democratic-led House Oversight Committee has found after a year-long investigation into climate disinformation from the fossil fuel industry. The committee found the fossil fuel industry is “posturing on climate issues while avoiding real commitments” to reducing greenhouse gas emissions. Lawmakers said it has sought to portray itself as part of the climate solution, even as internal industry documents reveal how companies have avoided making real commitments. Many of their requests for internal documents were heavily redacted by the companies, which did not specify reasons for withholding the information. “These companies know their climate pledges are inadequate but are prioritizing Big Oil’s record profits over the human costs of climate change,” Maloney said.
New York CNN —Brutally high oil and gas prices were the talk of the town in 2022 and one of the largest contributing factors to sky-high inflation. Oil prices and energy stocks are closely interlinked — so this discrepancy is an odd one and could mean that lower gas prices may not be here to stay. What’s happening: The price of West Texas Intermediate crude oil, the US benchmark, which is a large driver of gas prices, has fallen to its lowest level of the year this week — under $72 a barrel. But even though gas prices are falling, they’re still higher than they have been over the past few years. Exxon and Chevron are also speculating that crude prices will remain elevated and that demand will grow.
Wall Street's main indexes had come under pressure in recent days, with the S&P 500 shedding 3.6% since the beginning of December on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives. Such thinking had also weighed on the Nasdaq Composite (.IXIC), which had posted four straight losing sessions prior to Thursday's advance on the tech-heavy index. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. REUTERS/Brendan McDermidNine of the 11 major S&P 500 sectors rose, led by a 1.6% gain in technology stocks (.SPLRCT). The S&P 500 posted 15 new 52-week highs and three new lows; the Nasdaq Composite recorded 82 new highs and 232 new lows.
Dec 8 (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday said it will lift capital spending next year by about 10%, to between $23 billion and $25 billion, and boost share buybacks. Exxon is distributing more cash to shareholders than it is investing in new production - $30 billion between share buybacks and dividends this year. Exxon aims to raise oil and gas production to a record 4.2 million barrels of oil equivalent per day (boepd) by end-2027. Most of the 500,000 boepd increase is expected to come from Guyana, the United States and Brazil. This year's target is down from the 3.8 million boepd Exxon set a year ago.
Total: 25