Is Sentiment Toward Energy Stocks Catching Up With Fundamentals?
Despite the market’s recent focus on geopolitical risk, the supply-demand balance in the global oil market appears supportive of prices. Does the recent breakout in energy stocks suggest that investors have come around to this reality?
US Shale Operators: Showing Restraint, Or Encountering Constraints?
In the past, we’ve argued (correctly) that market participants and investors who bet against the resilience and potential upside in US oil production do so at their own peril. However, with the market now accustomed to these upside surprises, investors shouldn’t overlook the potential constraints on US production growth.
Narrowing Our Focus
We narrow our Focus List and dig deep into our picks’ fourth-quarter results to kick the tires on our investment theses.
Focus List: Upgrades and a Value Swap
We swap one value-oriented play on the Permian Basin for one that offers exposure to more near-term upside catalysts.
No Longer A Keystone for TransCanada
We explore what the Nebraska Public Service Commission’s approval of the Keystone XL pipeline’s cross-border segment really means for TransCanada Corp.
Paradigm Shift in MLP Land
Big changes are afoot in the midstream segment. Many master limited partnerships appear to have taken Enterprise Products Partners LP’s lead and shifted their focus to building distribution coverage and reducing equity. We explore which names will be able to make this transition with relative ease and which names face more of a slog to put themselves on a path to sustainability.
Permian Basin to Take Market Share in a Short-Cycle World
Break-even rates continue to fall across the board in US shale plays, but the efficiency gains that come from exploiting multiple oil-bearing formations with the same infrastructure give the Permian Basin an edge in the battle for market share.
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.
MLP Equity Issuance: Past and Present
Overall equity issued by energy-focused master limited partnerships (MLP) declined by 58 percent last year; we expect this trend to continue in 2016.
Live Chat with
Elliott and Roger on May. 25, 2022
Portfolios & Ratings
Model Portfolios
Balanced portfolios of energy stocks for aggressive and conservative investors.
Producers and Drillers
Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.
MLPs and Midstream
Our assessment of every energy-related master limited partnership.
International Coverage
Roger Conrad’s coverage of more than 70 dividend-paying energy names.
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