US Oil Economy; Investing Odds And Ends -- October 31, 2021

Clearing off the desk of items that have accumulated over the past three days.

Happy Halloween: from Nicole Saphier, MD, at twitter --

My kids' school sent a note saying they can wear Halloween costumes to school tomorrow as long as they don't cover the face because it will "hinder the learning environment."

Comment: she got a lot of push back on that: amazing how many people struggle with irony.

Investors: are buying oil on inflation fears, pushing prices even higher. Fund managers are buying energy futures to protect against inflation and creating a self-fulfilling prophecy in the process. From The WSJ. This may explain why there was not the usual sell-off in October.

Exxon Mobil: by raising its dividend, it maintains its status as a "dividend aristocrat," but don't be fooled. Exxon did not want to do that. 

For all the headlines, XOM raised its dividend by a measly 1.1%, raised its dividend one penny from 87 cents to 88 cents. Instead, increased its share buyback plans. May be good for long-term investors; traders can't be particularly happy. From The WSJ. And there are doubts XOM's current strategy is the right strategy.

From WAR52 over at twitter:

Some E&P top technicals: OAS, CVX, CRC, XOM, SD, ERF, EOG, CNX, MGY, BCEI/ XOG. These trading much lower might cause traders to flip short (?) 

Bottom technicals: VNOM, CLR, HES, EQNR, NOG, MCF, ESTE, GPOR, WTI, SBOW. Swing traders would be looking for these to turn up.

From $tockBaron over at twitter: 

I think there is more money that anyone cares to admit in the hands of very young inexperienced traders. But markets to generally elevate in times of inflation. If the markets returns stay higher than the inflation rate, is it really a problem?

The Permian: the world's swing oil producer. Re-posting. Link to Sankey Research at twitter.

This is what really struck me about XOM, CVX results today. Massive Permian growth while all other US basins decline and Canada shows no growth next year. Massive US, Texas economy. History of oil implications. Consider the number and capex outlooks.

White House briefing: what the heck are they even doing? Link here to Javier Blas at twitter.

Merck's planned acquisition of Acceleron Pharma, update: Merck will extend the deadling by about one week for shareholders to tender their shares. Link here.