|By PR Newswire||
|January 8, 2014 09:30 AM EST||
CHICAGO, Jan. 8, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Royal Dutch Shell plc (NYSE:RDS.A-Free Report), Phillips 66 (NYSE:PSX-Free Report), Petrobras (NYSE:PBR-Free Report), Statoil ASA (NYSE:STO-Free Report) and Valero Energy Corp. (NYSE:VLO-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday's Analyst Blog:
A Downbeat Start for Oil & Gas
Expectations of increased production from Libya pushed down crude prices by 6%. Natural gas also dipped slightly on bearish inventory data and predictions of a break in colder temperatures.
Among the newsmakers, Anglo-Dutch supermajor Royal Dutch Shell plc (NYSE:RDS.A-Free Report) closed the acquisition of Spanish oil group Repsol's liquefied natural gas assets, while legendary investor Warren Buffett's Berkshire Hathaway agreed to buy a subsidiary of Phillips 66 (NYSE:PSX-Free Report).
Crude prices came under pressure last week, as markets braced for an imminent increase in Libyan oil exports to near-normal levels following months of political turmoil. The commodity was also hit by soft Chinese manufacturing data and dismal readings from a survey of purchasing managers in the manufacturing-heavy Midwest.
Sentiments were further weakened by the Energy Information Administration (EIA) report that showed a build in fuel (gasoline and distillate) supplies, which outweighed a hefty drop in oil inventories.
As per the EIA's weekly 'Petroleum Status Report,' crude inventories dropped by a larger-than-expected 7.0 million barrels for the week ending Dec 27 to 360.57 million barrels. But worryingly, gasoline and distillate supplies were both up from the week-ago levels.
As a result of these factors, by close of trade on Friday, West Texas Intermediate (WTI) oil was in the red and settled at $93.96 per barrel, losing 6.0% for the week.
Investors continue to focus on temperature patterns to understand the fuel's economic dynamics. As it is, natural gas fundamentals look uninspiring with supplies remaining ample in the face of underwhelming demand. In fact, it is expected to take many years for the commodity's demand to match supply in the face of newer projects.
Natural gas fell slightly last week, pulled down by a smaller-than-expected decrease in supplies and forecasts of a break in cold weather conditions.
The EIA's weekly inventory release showed that natural gas stockpiles held in underground storage in the lower 48 states fell by 97 billion cubic feet (Bcf) for the week ended Dec 27, lower than the guided range (of 116–120 Bcf drawdown).
Moreover, milder weather forecasts – in the central and eastern regions over the next few days – are likely to limit the commodity's demand for heating.
Influenced by these factors, natural gas spot prices ended Friday at $4.30 per million Btu (MMBtu), down 0.9% over the week.
The Energy Week That Was:
The week's energy coverage was dominated by the following news:
Shell, Repsol Wrap Up LNG Asset Sale
Europe's oil giant Royal Dutch Shell plc closed the acquisition of liquefied natural gas assets of Repsol S.A. outside North America. The transaction was completed for a net cash purchase price of $3.8 billion, lower than the originally expected $4.4 billion that Shell agreed to pay in Feb 2013.
The reduced value could be traced back to the $200 million sale of the Basque power plant to BP plc by the Spanish oil and gas firm in Oct and the overall financial position of the company. The assets under consideration include liquefaction facilities in Trinidad & Tobago and Peru.
Phillips 66 to Divest PSPI
Refiner Phillips 66 announced that it has entered into an agreement with Warren Buffett's Berkshire Hathaway Inc. to divest its wholly owned subsidiary Phillips Specialty Products Inc. ("PSPI"). Following regulatory review, the transaction is expected to close in the first half of 2014.
Per the agreement, Phillips 66 will exchange all of its common stock in PSPI for approximately 19 million shares of its shares owned by Berkshire Hathaway. The company expects PSPI's balance sheet at closing to include approximately $450 million of cash and cash equivalents.
Petrobras P-55 Starts Production
Brazilian state-run energy giant, Petroleo Brasileiro SA or Petrobras (NYSE:PBR-Free Report) brought online its P-55 platform. The semi-submersible platform started production from the Roncador field, at the Campos Basin, in Rio de Janeiro. The vessel set sail for its destination on Oct 6 from the Rio Grande Shipyard, after completion of necessary tests and certifications.
The platform has an expected production capacity of 180,000 barrels of oil and can treat 6 million cubic meters of gas per day. The 52,000 ton P-55 – the largest semi-submersible platform built in Brazil – will be connected to 11 oil producing wells in the basin.
Statoil Hits Oil & Gas in Askja
Norwegian oil giant Statoil ASA (NYSE:STO-Free Report), along with its partners, has struck oil and gas in the Askja prospects in the North Sea. The mid-water semisubmersible rig Ocean Vanguard was used to drill two exploration wells – 30/11-9S and 30/11-9A – located between the Oseberg and Frigg fields and about 13 kilometer southeast of the Statoil-operated Krafla/Krafla West discoveries.
The main wellbore 30/11-9 S tested the Askja West prospect, where a net gas column of 295 feet (90 meters) in Late and Middle Jurassic rocks was proven. In the same geological formation, side-track 30/11-9 A tested the Askja East prospect and proved a net oil column of 131 feet (40 meters). The reservoir properties in both wells met expectations.
Valero Shares Hit 52-Week High
Shares of the largest domestic independent refiner Valero Energy Corp. (NYSE:VLO-Free Report) hit a 52-week high of $50.54 on Dec 31. The stock closed the session at $50.40, which reflects a solid return of 47.2% over the past six months.
The average trading volume for the last three months aggregated 6,407,968 shares. Among all the independent refiners, Valero offers the most diversified refinery base with a capacity of 3.0 million barrels per day in its 16 refineries throughout the U.S., Canada and the Caribbean. More importantly, Valero is best positioned to profit from increased refining margins mainly on account of its strategic refinery structure that enables it to use cheaper oil for over one-half of its needs.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.
This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
SOURCE Zacks Investment Research, Inc.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Mar. 24, 2017 11:45 PM EDT Reads: 577
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Mar. 24, 2017 11:15 PM EDT Reads: 2,478
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 24, 2017 10:45 PM EDT Reads: 403
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
Mar. 24, 2017 10:15 PM EDT Reads: 4,130
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 24, 2017 10:00 PM EDT Reads: 1,508
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 24, 2017 10:00 PM EDT Reads: 1,864
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 24, 2017 08:15 PM EDT Reads: 268
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 24, 2017 06:30 PM EDT Reads: 2,610
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 24, 2017 06:30 PM EDT Reads: 4,109
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 24, 2017 05:15 PM EDT Reads: 1,295
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 24, 2017 04:45 PM EDT Reads: 1,769
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Mar. 24, 2017 04:30 PM EDT Reads: 2,262
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 24, 2017 04:30 PM EDT Reads: 1,035
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 24, 2017 04:30 PM EDT Reads: 523
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
Mar. 24, 2017 03:00 PM EDT Reads: 2,110