COP: Huge Beat -- Anticipating A Change In The Quarterly Dividend -- 1Q23

Locator: 44538I. 

Dividend: 51 cents plus 60 cents, pays June 1 and June 27.

COP:

Earnings, briefly:

Re-posting From April 12, 2023, link here:

COP: link here.

• ConocoPhillips unveiled a 10-year plan Wednesday, April 12, 2023, that envisions more than $115B of free cash flow available for distributions and capital spending averaging ~$10B annually, resulting in a 4%-5% production compound annual growth rate at an average reinvestment rate of ~50%. 
• The plan foresees durable cash flow growth with projected cash from operations and FCF compounded annual growth rate of ~6% and 11%, respectively, and return on capital employed increasing at least one percentage point annually. 
• Conoco said it will seek a resource base of 20B boe at less than $40/bbl WTI, representing a resource life of more than 30 years at current production levels. 
• The company also pledged to speed up its greenhouse gas intensity reduction target through 2030 by 10% to a range of 50%-60% using a 2016 baseline. 
• ConocoPhillips (COP) is expected to provide shareholders with almost 5% in annualized dividends and share buybacks, generating strong shareholder returns.

QCOM In Free-Fall; AAPL Down In Pre-Market -- May 4, 2023

Locator: 44538I.

QCOM:

AAPL:

Now That Oil Is Well Below $70, The Administration Will Begin Refilling The SPR -- ROTFL -- May 4, 2023

Locator: 44537I. 

Wow, this week went fast. And I learned a lot. Ablemarle.

Intel:

*************************
Back to the Bakken

Active rigs: 41.

WTI: $68.79.

Natural gas: $$2.165.

Peter Zeihan newsletter.

Friday, May 5, 2023: 10 for the month; 62 for the quarter, 317 for the year
38774, conf,  Whiting, Crane Creek Sstate 11-16-2TFH,
31258, conf, BR, Gladstone 7-1-13TFH,
Thursday, May 4, 2023: 8 for the month; 60 for the quarter, 315 for the year
38856, conf,  Whiting, Littlefield 11-21-2HU,
36401, conf, WPX, Skunk Creek 4-24-26-16HU,

RBN Energy: crude oil exports will drive US production growth.

May the 4th be with you! Today — Star Wars Day to many of us — we borrow (and bastardize) one of the most memorable quotes from that epic collection of movies, “May the Force be with you,” to make the point that, like the “Force” that shapes events in the Star Wars universe, for the U.S. oil patch, exports are the lifeblood of today’s market.

U.S. refineries are operating at more than 90% of their rated capacity and using as much domestically produced light-sweet shale oil as their sophisticated equipment will allow. That means that virtually all of the incremental U.S. unconventional light-sweet crude oil production will need to be piped to export terminals along the Gulf Coast, loaded onto tankers, and shipped to refineries overseas. In today’s RBN blog, we discuss what this undeniable link between crude oil exports and production growth means for U.S. E&Ps and midstream companies — and the future of the oil and gas industry.

 

Ford Sticks WIth CarPlay --May 4, 2023

Locator: 44536AAPL. 

If you actually go to this link and I assume 95% of readers will not, be sure to read the comments. 

Link here.

Link here.

GMs decision makes Bud's recent marketing debacle look like a speed bump at Daytona.

The decisin for Ford was easy: if Ford had gone it's own way, as GM did, their entertainment system would have been named ForePlay.

May The Fourth Be With You -- It Was For Bud -- Bud Crushes Earnings -- May 4, 2023

Locator: 44536BUD. 

Later: shares surge. Despite Dow falling 300 points on report of likely third California bank failure. [Add a fourth regional bank: Phoenix-based. #13 on Forbe’s list of America’s Best Banks.]

[Read the political and financial history of California, 2000 - 2010. Link here: https://themilliondollarway.blogspot.com/2023/05/pondering-may-3-2023.html.]

First things first, link here.

Belgian firm Anheuser-Busch InBev reported core profit of $4.76 billion, up by 13.6% from the first quarter of 2022, in its first-quarter earnings today (May 4). The company attributed the massive surge–Wall Street was expecting a jump of around 5.6%—to “pricing actions” and “product premiumizations.” In other words, price hikes were absorbed by customers, and many of them opted for higher-tier products this quarter.

The marketing debacle began April 12 - 13, 2023. We won't know the effects of that debacle until 2Q23 earnings come out.

From Zacks pre-announcement:

Much more later, perhaps.