Key Takeaways from Q1 Earnings: LNG, Deepwater and the Permian Basin
First-quarter earnings season is in full swing for the energy sector, with the major integrated oil and gas companies and the diversified oil-field service companies reporting results this week. Here’s a quick rundown of some of our key takeaways from the action.
Why We’re Still Bearish on Offshore Contract Drillers
Weak demand, a wave of contract expirations and excessive leverage are all reasons to remain bearish on offshore contract drillers. Investors should continue to avoid these value traps.
Oil-Field Services and Equipment: Exercise Caution
Despite the recent rally in shares of oil-field service providers, our negative outlook for activity levels in the international market and skepticism regarding the timing and magnitude of a recovery in North America explains why we remain underweight oil-field services and capital equipment. Many of these stocks have rallied too far, too fast and don’t account for overcapacity that remains to be worked off from the boom years.
High-Yield MLPs: The Good, the Bad and the Ugly — Part 1
With more than two dozen non-upstream MLPs yielding more than 8 percent, many investors who followed our leading during the bloodbath of 2008-09 wonder whether they should buy the dip. We kick the tires on half these high yielders to determine which ones to buy, hold and sell. Remember that our favorite MLPs appear in our Model Portfolios.
Key Takeaways from Schlumberger’s Fourth-Quarter Earnings Call
In these uncertain times, Schlumberger’s quarterly conference calls are must-attend events; here are our key takeaways from the last week’s call, our updated thoughts on the oil-field services company as an investment and read-throughs for other energy companies.
IPO Analysis: Ocean Rig Partners LP (NSDQ: ORLP)
Offshore contract driller Ocean Rig UDW has followed SeaDrill and Transocean’s lead and filed an initial registration statement for a master limited partnership that will own rigs that operate under longer-term contracts. We do a deep dive to determine whether Ocean Rig Partners LP is worth your while.
New MLPs on the Seas
The latest batch of master limited partnerships to complete their initial public offerings include two names that specialize in marine assets: Transocean Partners LLC and Hoegh LNG Partners LP.
Five Myths about SeaDrill That Could Cost You Real Money
SeaDrill has given up 36 percent of its value since the start of September, yet some uninformed market pundits continue to pound the table for the stock. These five myths about SeaDrill could cost you real money.
More CAPEX, More Problems: A Survey of Big Oil
When casual investors think of the energy stocks, one of the Seven Sisters—BP (NYSE: BP) NYSE: BP), Chevron Corp (NYSE: CVX), Eni (NYSE: E), Exxon Mobil Corp (NYSE: XOM), Royal Dutch Shell (NYSE: RDS B), Statoil (NYSE: STO) and Total (NYSE: TOT)—likely springs to mind.
But these Western energy giants have come in for a great deal of criticism over the past several years, as investors lose patience with the industry’s massive capital investments and limited production growth.
Big Oil: Picks and Pans
We assess the growth prospects of the West’s seven major integrated oil companies, highlighting our favorites and the names investors would do well to avoid.
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Experts
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Elliott H. Gue
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
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Roger S. Conrad
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor