56Chevy
5 years ago
WPX Energy roars higher after strong Q2 results, production guidance raise
Aug. 5, 2019 PMWPX Energy, Inc. (WPX)
By: Carl Surran, SA News Editor
WPX Energy (NYSE:WPX) +10.7% after-hours following stronger than expected Q2 earnings and a 61% Y/Y increase in revenues to $695M while also raising full-year production guidance.
WPX says Q2 total production jumped 28% Y/Y to 159.6K boe/day, including a 30% increase in Delaware Basin output to 96.6K boe/day and a 25% hike in Williston Basin production to 63K boe/day.
For the full year, WPX now expects total production of 160K-165K boe/day, up from its prior estimate of 149K-161K boe/day, including 101K-103K bbl/day of oil vs. prior guidance of 96K-100K bbl/day, driven by forecast Q3 volumes of 108K-11K bbl/day.
WPX says its Q2 weighted average gross sales price prior to revenue deductions and derivatives was $57.50/bbl for oil, $1.74/Mcf for natural gas and $13.66/bbl for natural gas liquids.
WPX says its full-year capital spending plan remains unchanged at $1.1B-$1.275B.
Also, WPX's board authorized a plan to repurchase as much as $400M of shares over the next 24 months, citing expectations for generating $100M-$150M in free cash flow during H2.
Source:
https://seekingalpha.com/news/3487245-wpx-energy-roars-higher-strong-q2-results-production-guidance-raise
Marker:
WPX Energy Inc (WPX)
$10.105 up 1.175 (13.16%)
Volume: 10,367,275
*current price for WTI crude stands at $54.82 @ bbl.
realfast95
7 years ago
Leon Cooperman Sees Mixed Market Ahead but Loves 5 Top Stock Picks
By Jon C. Ogg September 12, 2017 11:00 am EDT
Leon Cooperman of Omega Advisors spoke at the Delivering Alpha conference on Tuesday morning. He is a heavyweight on Wall Street and is considered one of the preeminent hedge fund managers these days. His latest 13F filing with the Securities and Exchange Commission showed equity holdings of nearly $2.4 billion.
There were two key takes from Cooperman worth noting. The first was that equities were not in a bubble, but the second major take was that bonds have been in a bubble. He sees equity valuations being more or less full but fair, and he thinks that the stock market could face a 5% pullback. And Cooperman thinks that stocks will return in the 5% to 8% range, when counting dividends in the total return mix.
Cooperman also provided five picks for investors, and it turns out that all five were in his 13F filing from August. As far as what might prompt that elusive market correction, the geopolitical issues, North Korea and perhaps even a disappointing earnings season were all noted as possible drivers.
Here are Cooperman’s five picks from Tuesday’s conference notes, along with what the holdings were as of June 30, 2017, in the 13F filing from August.
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First Data Corp. (NYSE: FDC) was listed as 8.11 million shares, worth $147.6 million. The stock has a 52-week trading range of $12.74 to $19.20, with a consensus analyst price target of $20.52. The company’s market cap is $16.8 billion. Its shares were actually down 3.3% at $18.22 on Tuesday morning, but that was because private equity holder KKR now intends to unload 85 million in a secondary offering.
Shire PLC (NASDAQ: SHPG) was listed as 500,207 shares, worth $82.67 million in the August filing, and it was considered an underappreciated drug player. These American depositary shares were not up on the day shortly after the endorsement, down just six cents at $161.63. Shire has a consensus price target of $226.38 and a 52-week range of $139.36 to $209.22. The market cap is $47.9 billion, and the dividend yield is 0.6%.
Cooperman gave two oil and gas picks in which he thinks the value is underappreciated and that they will benefit as oil moves back up toward $60 a barrel in the year ahead.
One pick was Hess Corp. (NYSE: HES), with almost 1 million shares held, worth $43 million. This stock was up 1.3% at $41.44 after Cooperman’s endorsement. The 52-week range is $37.25 to $65.56, and the consensus price target on Hess is $51.26. The company has a market cap of $13.2 billion and a dividend yield of 2.4%.
The second energy pick was WPX Energy Inc. (NYSE: WPX), as a more speculative company, and that holding was only 3.66 million shares, worth 35.4 million. Its shares were up 2.3% at $10.02 after Cooperman endorsed it. WPX has a consensus price target of $15.26 and a 52-week range of $8.40 to $16.17. The market cap is $4.0 billion.
http://247wallst.com/investing/2017/09/12/leon-cooperman-sees-mixed-market-ahead-but-loves-5-top-stock-picks/
realfast95
7 years ago
Leon Cooperman Sees Mixed Market Ahead but Loves 5 Top Stock Picks
By Jon C. Ogg September 12, 2017 11:00 am EDT
Leon Cooperman of Omega Advisors spoke at the Delivering Alpha conference on Tuesday morning. He is a heavyweight on Wall Street and is considered one of the preeminent hedge fund managers these days. His latest 13F filing with the Securities and Exchange Commission showed equity holdings of nearly $2.4 billion.
There were two key takes from Cooperman worth noting. The first was that equities were not in a bubble, but the second major take was that bonds have been in a bubble. He sees equity valuations being more or less full but fair, and he thinks that the stock market could face a 5% pullback. And Cooperman thinks that stocks will return in the 5% to 8% range, when counting dividends in the total return mix.
Cooperman also provided five picks for investors, and it turns out that all five were in his 13F filing from August. As far as what might prompt that elusive market correction, the geopolitical issues, North Korea and perhaps even a disappointing earnings season were all noted as possible drivers.
Here are Cooperman’s five picks from Tuesday’s conference notes, along with what the holdings were as of June 30, 2017, in the 13F filing from August.
Sponsored by Gerber® Infant Formulas Happiness is a happy baby
First Data Corp. (NYSE: FDC) was listed as 8.11 million shares, worth $147.6 million. The stock has a 52-week trading range of $12.74 to $19.20, with a consensus analyst price target of $20.52. The company’s market cap is $16.8 billion. Its shares were actually down 3.3% at $18.22 on Tuesday morning, but that was because private equity holder KKR now intends to unload 85 million in a secondary offering.
Shire PLC (NASDAQ: SHPG) was listed as 500,207 shares, worth $82.67 million in the August filing, and it was considered an underappreciated drug player. These American depositary shares were not up on the day shortly after the endorsement, down just six cents at $161.63. Shire has a consensus price target of $226.38 and a 52-week range of $139.36 to $209.22. The market cap is $47.9 billion, and the dividend yield is 0.6%.
Cooperman gave two oil and gas picks in which he thinks the value is underappreciated and that they will benefit as oil moves back up toward $60 a barrel in the year ahead.
One pick was Hess Corp. (NYSE: HES), with almost 1 million shares held, worth $43 million. This stock was up 1.3% at $41.44 after Cooperman’s endorsement. The 52-week range is $37.25 to $65.56, and the consensus price target on Hess is $51.26. The company has a market cap of $13.2 billion and a dividend yield of 2.4%.
The second energy pick was WPX Energy Inc. (NYSE: WPX), as a more speculative company, and that holding was only 3.66 million shares, worth 35.4 million. Its shares were up 2.3% at $10.02 after Cooperman endorsed it. WPX has a consensus price target of $15.26 and a 52-week range of $8.40 to $16.17. The market cap is $4.0 billion.
http://247wallst.com/investing/2017/09/12/leon-cooperman-sees-mixed-market-ahead-but-loves-5-top-stock-picks/
Enterprising Investor
9 years ago
In U.S. shale fields, including in Texas, oil flow slows (9/15/15)
By James Osborne
The flow of crude from what had been the country’s fastest-growing oil and gas regions, like Texas’ Eagle Ford shale, is declining rapidly, according to data released by the federal government this week.
The Energy Information Administration reports that across the country’s seven largest shale deposits, oil production is expected to fall to 5.2 million barrels a day next month, the sixth consecutive month of decline and a 6 percent drop since April.
The fall marks a dramatic turnaround for a U.S. oil industry that had almost doubled its production since 2010. Through the use of advanced hydraulic fracturing and horizontal drilling techniques, drillers had accessed deposits long known by geologists but thought too difficult and expensive to drill.
But the revitalization of the country’s oil sector flooded the world market. Combined with a struggling Chinese economy and steady production out of the Middle East, oil is now selling for less than half what it did in the summer of 2014.
Now drilling rigs are sitting idle, and producers are opting not to turn on the wells they drill, letting the oil sit underground until prices improve. With the oil bust now approaching its first anniversary, oil and gas companies around Texas and the country are getting more and more nervous, said Larry Oldham, an energy investor in Midland.
“At some point the production is going to come off a whole lot harder than it has,” he said. “It’s going to get ugly. A lot of companies have been unable to re-hedge. They’ve been unable to lock in higher prices, so their cash flow is going to get worse.”
By and large, most forecasts predict U.S. oil production will continue declining through mid-2016. At that point, the theory goes, the decrease in supply should push up crude prices and get drilling rigs back in the fields.
In a report Monday, the research firm Raymond James predicted U.S. oil production would fall by 200,000 barrels a day next year — a 2 percent decline — said energy analyst Pavel Molchanov.
“That’s the first time in quite a while U.S. oil production is actually down,” he said. “In 2017, it’s a bit academic at this point, but we think U.S. production will be growing again. But that will depend on what oil prices do.”
Among the seven shale deposits examined by the EIA, only one, the Permian Basin in West Texas, has not reported a decline. It is projected to produce 2 million barrels of oil a day next month, up 90,000 barrels from April.
Shale wells are notoriously quick to decline in the flow of oil and natural gas, necessitating constant drilling to keep up production. With the U.S. rig count at levels not seen since 2009, those declining rates were going to catch up with new production sooner or later.
Only in the Permian, the degree to which drillers have figured out how to do more with less has allowed them to outpace their competitors in other regions. In the Permian, the amount of oil produced per drilling rig has increased 61 percent since January. In the Eagle Ford and North Dakota’s Bakken shale, that ratio increased by less than 30 percent.
“The Permian is quite resilient. Not many energy stocks have had a good year, but the best ones are the companies with a lot of production in the Permian,” Molchanov said.
http://www.dallasnews.com/business/energy/20150915-in-u.s.-shale-fields-including-in-texas-oil-flow-slows.ece
Timothy Smith
9 years ago
WPX Energy (NYSE:WPX) agrees to sell a North Dakota gathering system to a P-E fund managed by the Ares EIF Group, a subsidiary of Ares Management (NYSE:ARES), for ~$185M.
WPX says the sale is part of its delevering plan targeting $400M-$500M in divestitures by the end of 2015, and it is targeting another $400M-$500M in asset sales in 2016.
WPX says it will continue to operate the system, which currently gathers ~11K bbl/day of oil and 6,500 Mcf/d of natural gas, and can be expanded.
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