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For all the analysts and pundits in the financial media, there is still no better judge of a company's health and future prospects than the owners and executives of those companies themselves, along with major institutional shareholders.[More...]
Highlights include Nabors Industries Ltd. (NBR), Patterson-UTI Energy, Inc. (PTEN), BJ Services Co. (BJS), EnCana Corp. (ECA), EOG Resources, Inc. (EOG) and Chesapeake Enery Corp. (CHK). Growing optimism about the economic outlook has pushed the equity markets significantly higher from the March 2009 lows. Crude oil and most of the other commodities have been active participants in the rally. As this first chart shows, natural gas has largely been[More...]
Highlights include Exxon Mobil Corp. (XOM), Schlumberger, Ltd. (SLB), Transocean Ltd. (RIG), Nabors Industries Ltd. (NBR), Patterson-UTI Energy Inc. (PTEN), BJ Services Co. (BJS), XTO Energy Inc. (XTO) and Chesapeake Energy Corp. (CHK). Oil prices have moved up impressively in the recent past, up almost 18% in the last four[More...]
While continued weakness in crude oil and natural gas prices are expected to weigh on the energy sector's performance over the next 6-9 months, investors with longer time-horizons will find many attractive opportunities in this battered group. In terms of commodity prices, we believe that crude oil will take its cue from the direction of the broader global economy. Natural gas, on the other hand, is a North American story and developments here over the coming months will determine its outlook. With the heating season halfway through and visibility on the economy's front still elusive, we expect continued downward pressure on oil and natural gas prices over the coming weeks. However, with OPEC's supply cuts helping remove the current inventory overhang -- expected to start showing up in early spring -- and sentiment on the economy improving following the stimulus, crude oil prices may start consolidating in the second half of the year. If the economic[More...]
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