Welcome!

News Feed Item

The Zacks Analyst Blog Highlights: Occidental Petroleum, Exxon Mobil, Apache, Phillips 66 and ION Geophysical

CHICAGO, Feb. 19, 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 Occidental Petroleum Corp. (NYSE:OXY-Free Report), Exxon Mobil Corp. (NYSE:XOM-Free Report), Apache Corp. (NYSE:APA-Free Report), Phillips 66 (NYSE:PSX-Free Report) and ION Geophysical Corp. (NYSE:IO-Free Report).

Zacks Investment Research, Inc.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Tuesday's Analyst Blog:

Oil & Gas Stock Roundup

Crude prices edged back over $100 during the past week on expectations of an improving demand outlook and positive trade data out of China, while natural gas moved higher amid bullish supply data and concerns over a key pipeline explosion.

Among the newsmakers, oil and gas producer Occidental Petroleum Corp. (NYSE:OXY-Free Report) announced plans to spin off its California business, creating two independent companies.     

Crude Oil:

Crude prices edged up a little last week on a positive demand outlook for heating oil amid below-normal temperatures that have prevailed for most part of the winter. The commodity got some more support from Janet Yellen's reassuring Fed commentary and strong January trade data from China.

However, at the same time, dismal consumer and labor reports weighed on crude prices. Sentiments were further dampened by the soft Energy Information Administration (EIA) report that showed a higher-than-expected increase in oil inventories, which remains in the upper half of the average for this time of the year.

As a result of these factors, by close of trade on Friday, West Texas Intermediate (WTI) oil was slightly in the black and settled at just over $100.00 per barrel, gaining a meager 0.3% for the week. 

Natural Gas:

Natural gas rallied last week on the back of a large decrease in supplies, forecasts of continued freezing cold weather conditions, and reports of an explosion in a major pipeline.

The EIA's weekly inventory release showed that natural gas stockpiles held in underground storage in the lower 48 states fell by 237 billion cubic feet (Bcf) for the week ended Feb 7, higher than the guided range (of 228–232 Bcf drawdown). Moreover, the decrease was considerably higher than both last year's withdrawal of 152 Bcf and the 5-year (2009–2013) average reduction of 162 Bcf for the reported week.

Chilly weather forecasts – in the eastern U.S. over the next few days – are likely to further spur natural gas' demand for heating, while an explosion in an important pipeline in southern Kentucky could send prices soaring again.

Influenced by these factors, natural gas prices ended Friday at around $5.21 per million Btu (MMBtu), up 9.0% over the week.

Energy Week That Was:

The week's energy coverage was dominated by the following news:

Occidental to Break in Two

Los Angeles-based energy explorer Occidental Petroleum Corp. announced plans to separate its oil and gas assets in California into a separate company, apart from shifting its headquarters to Houston. The spin-off will see the formation of a new entity that will have around 8,000 employees and will be the state's biggest natural gas producer. Endorsing the move as a bid by Occidental to drive up the value of the company, shares closed up 3.8% at $95.76 on the NYSE trade on Friday.

Exxon Mobil Produces First Gas from Damar

Energy giant Exxon Mobil Corp. (NYSE:XOM-Free Report) produced first gas from its Damar field, off the east coast of Peninsular Malaysia. With a forecasted peak capacity of 200 million cubic feet per day, the project is expected to help Malaysia meet its rising natural gas demand. In particular, the startup of Damar – in which Exxon Mobil holds a 50% operated interest – is another important step towards the company's global production growth in the coming years. 

Q4 Earnings Crash at Apache, to Exit Argentina

U.S. energy firm Apache Corp. (NYSE:APA-Free Report) reported weak fourth quarter results, as asset sales reduced production. The production of oil and natural gas averaged 687,911 oil-equivalent barrels per day (55% liquids), down approximately 14.0% year over year. In another announcement, Apache said that it will sell its operations in Argentina to state energy company YPF S.A. for $800 million in cash. The decision is in accordance with the Houston-based oil and gas explorer's plan to exit business that do not fit into the company's long-term growth plan, apart from paring borrowings and fund buybacks.

Phillips 66 to Divest Assets

U.S. refiner Phillips 66 (NYSE:PSX-Free Report) announced that it would divest its products pipeline system and two storage spheres for $700 million to its spun-off partnership Phillips 66 Partners L.P. The to-be-sold properties include Phillip 66's Gold Line System – which consists of a 681-mile refined products pipeline that runs from its Borger, Texas refinery to Cahokia, Illinois – and two refinery-grade propylene storage spheres. The transaction is expected to be completed by Mar 1.

ION Geophysical Shares Soar on Strong Results

Shares of energy technology provider ION Geophysical Corp. (NYSE:IO-Free Report) popped more than 29% on Thursday following a better than expected earnings announcement. The company, which went through a tough period in 2013 thanks to cost overruns, easily beat profit and revenue estimates, as clients worldwide saw value in its solutions.  

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.

About Zacks

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.

Get the full Report on OXY - FREE

Get the full Report on XOM - FREE

Get the full Report on APA - FREE

Get the full Report on PSX - FREE

Get the full Report on IO - FREE

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.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
[email protected]
http://www.zacks.com

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.

Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO

SOURCE Zacks Investment Research, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.