Updates
October 8, 2019: see comments, regarding boepd vs bopd.
Later, 5:11 p.m. CT: link here. Screenshot from linked article:
Original Post
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Morning morning market (and early afternoon):
- Dow: up / down fifty points either side of zero throughout morning / early afternoon
- COP: ups dividend by 38%; from 30.5 cents to 42 cents/share
- will buy back $3 billion of its own shares
- says it wants to return 30% of its value to investors
- p/e= 8.9
- current price: $55
- $3 billion / $55 = 55 million shares
- currently outstanding: 1.11 billion
- after buyback: 1.056 billion
- current market cap: $60.573 billion
- after buyback: shares move to about $57, all things being equal
- one year target over at Yahoo!Finance: $74 (as posted this date, October 7, 2019)
- by they way, COP's dividend is still well below what it was paying in 2015
- CVX: in a race with XOM to be first operator to produce a million bopd from the Permian
- announces a joint venture with Cimarex Energy; one of the few Permian operators that has been consistently profitable since late 2016; apparently that was "well known"; quick: ticker symbol for Cimarex?
- but CVX has dozens of other agreements with other shale operators
- list of operators does not include at least one well-know Permian operator
- Cimarex
- p/e of 7.4
- pays 1.75%
- trading at $45
- FANG
- provides production and acquisitions update for the 3Q19 (posted October 7, 2019)
- GM: not good news for the UAW? GM digs in its heels over the weekend, and apparently GM investors like what they see; GM is up a bit o a pretty lackluster trading day. Lackluster is an interesting word, isn't it?
- F: on the other hand, F remains flat
- AAPL: was up higher earlier today, but is still showing green; up about half a percent; up about a $1.30; trading just above $228
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Item
Danica Patrick and Aaron Rodgers.
I did not know they were "an item" until I saw the story of Ellen Degeneres and her partner sharing a booth with former President George W. and Laura Bush over the weekend while watching the Dallas Cowboys lose to Aaron Rodgers. How did I ever miss that power couple? I guess it's an old, old story, so I must have just forgotten. LOL. I do remember the name of her male friend beofe this one.
They are racing for 1 MM boEpd, not bopd. Massive difference financially. In addition, CVX has a higher percentage of its production that is gas. But both are significant gas (now and future).
ReplyDeleteCVX also has a higher percentage that is nonop. They are just passive when non-op. The reason they have so much nonop is just from having an old land position that was sitting dormant in the cupboard. Nothing wrong with that, but it needs to be understood.
I've add the link. I will come back to this later. I am going to pick up Sophia from TutorTime.
DeleteReuters article is in error. Journalist probably an English major, not chemistry. The XOM or CVX IR decks say BOE, no BO.
DeleteFolks may be talking different time lines. I see that all the time. But yes, it was true in the Bakken. One got to a million boepd before one got to a million bopd.
Delete