Freeport-McMoRan Cancels Oil & Gas Spin-Off
Freeport-McMoRan has formally withdrawn its proposed spin-off and initial public offering in its oil and gas business into a company that would have been named Freeport-McMoRan Oil & Gas.
Energy
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Gas Prices Rise as Summer Driving Season Nears
The national average price for a gallon of regular gasoline rose about six cents in the past week, according to GasBuddy.
4 Big Oil and Gas Stocks Analysts Want You to Buy, but Sell 2 Others
24/7 Wall St. reviews many key analyst upgrades and downgrades throughout the week. There remains a huge interest in which oil and gas stocks now offer long-term upside for investors.
Oil Rig Count Flat Last Week, Hedge Funds Dump Short Bets
There are a total of 404 working rigs in the United States, down by two week over week and down 481 year over year, according to the latest Baker Hughes North American Rotary Rig…
Plenty of Opposition Remains to Kinder Morgan Canadian Pipeline Expansion
The National Energy Board of Canada (NEB) on Thursday recommended the planned expansion of the Trans Mountain oil pipeline system be approved.
Nomura Explains Increase to Range Resources Price Target
It's easy to see why the initial reaction to the acquisition was negative: both companies are primarily natural gas producers and natural gas prices haven't gone anywhere but down over the past year or…
EPA Proposes Renewable Fuel Requirements for 2017
The EPA has released its proposed renewable fuels requirements for 2017. As always, renewable fuels producers don't like it and fossil fuels producers don't like it either.
Why Halliburton May Be Worth 25% More, Even Without Baker Hughes
Despite the failed attempt to acquire Baker Hughes, Argus believes that Halliburton remains better positioned than most peers to take advantage of new technology in the North American land market.
Natural Gas Price Flat After Storage Report; Down 7% From Week Ago
The U.S. Energy Information Administration reported Thursday morning that U.S. natural gas stocks increased less than expected for the week ending May 13.
Saudi Arabia May Begin Paying Bills with IOUs
The Kingdom of Saudi Arabia is reportedly considering using IOUs to pay vendors with the goal of conserving cash. Payments would include some cash and some bond-like paper (commonly called an IOU because that’s…
Meet the New (Almost) Highest Analyst Target for Exxon Mobil
Argus has upgraded Exxon Mobil to a Buy rating with a $104 price target, implying an upside of 16% from the current price level.
Should First Solar Be Valued at Less Than 12 Times Earnings?
24/7 Wall St. cannot help but ask: Is it fair for First Solar to be valued at less than 12 times current year earnings?
Crude Oil Price Slumps on Surprise Inventory Increase
The EIA weekly petroleum status report noted that U.S. commercial crude inventories increased by 1.4 million barrels last week.
UBS Favors 4 Top Oil and Gas Stocks That Pay Solid Dividends
While the oil rally off the February lows has been solid, many analysts are sticking with more conservative large cap sector leaders. This makes sense for investors looking to add some oil exposure to…
Investors Very Interested in These 3 Quality MLPs as Oil Prices Push Higher
At the recent Deutsche Bank MLP, Midstream and Natural Gas Conference, attendees were particularly interested in three energy master limited partnerships.