Exxon Mobil (NYSE:XOM) Stock Price Target Raised to $113 From $108 at Cowen
Exxon Mobil (NYSE:XOM) Stock Price Target Raised to $113 From $108 at Cowen.
Exxon Mobil (NYSE:XOM) Stock Price Target Raised to $113 From $108 at Cowen Read Post »
Energy
TotalEnergies (NYSE:TTE) adjusted earnings per share for the fourth quarter of 2022 were $2.97 versus $3.07 expected
TotalEnergies se (NYSE:TTE) adjusted earnings per share for the fourth quarter of 2022 were $2.97 versus $3.07 expected. Adjusted EBITDA for the fourth quarter was $16.00 billion versus $15.26 billion. About TotalEnergies TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Schlumberger N.V. (NYSE:SLB) will target multi-billion dollar business opportunities
Schlumberger N.V. (NYSE:SLB) changed its name to SLB three and a half months ago and aims to capture billions of dollars in business opportunities through its New Energy division alone. Gavin Rennick, president of Schlumberger N.V., said: “We value two things: impact and scale. If the scale is not in place, it is not a real energy transition business. By focusing on five areas – carbon solutions, hydrogen, geothermal – geothermal energy, energy storage and critical minerals – the new energy business will generate approximately $3 billion in revenue by the end of this decade and at least $10 billion by the end of the next decade.
Schlumberger N.V. (NYSE:SLB) will target multi-billion dollar business opportunities Read Post »
BP’s (NYSE:BP) Q4 2023 adjusted net profit was $4.81 billion
On February 7, BP (NYSE:BP) announced its fourth quarter and full year 2022 results. Like other supergiants, the company took advantage of soaring oil and gas prices, delivering record profits throughout 2022 and opting to raise its dividend and expand share buybacks. BP’s Q4 adjusted net profit was $4.81 billion, down from a record level earlier this year and below the average analyst estimate of $5.11 billion. But full-year profit reached $27.65 billion, a record high. Q4 adjusted earnings per ADS were $1.59, compared to $8.74 for the full year. Increase dividend by 10% to 6.61 cents per share and further repurchase of $2.75 billion in shares. Invest USD 8 billion each by 2030. Total capital expenditures are likely to be slightly higher than previously planned, totalling between $16 billion and $18 billion in 2023 and between $14 billion and $18 billion per year for the 2024-30 period.
BP’s (NYSE:BP) Q4 2023 adjusted net profit was $4.81 billion Read Post »
Shell Plc (NYSE:SHEL) expects to pay about $2 billion in windfall profits taxes to the EU and the UK in the fourth quarter
Shell Plc (NYSE:SHEL) The Q4’22 earnings impact of recently announced additional taxes in the EU (the solidarity contribution) and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion. These impacts will be reported as identified items and therefore will not impact Q4’22 Adjusted Earnings and will have limited cash impact in Q4’22 given the expected timing of payments.
Exxon Mobil (NYSE:XOM) said strong fourth-quarter profit growth would hit an annual record
Exxon Mobil Corp (NYSE:XOM) said Wednesday that fourth-quarter operating profit growth was strong, reaching about $15.4 billion, a record high for 2022. The largest U.S. oil producer said in a filing that its huge profits in previous quarters had cooled. But preliminary operating results confirm that 2022 was ExxonMobil’s best fiscal year, with a profit of about $58 billion.
The winter storm has led to a significant reduction in U.S. energy supplies
Due to snowstorms and sharp temperature drops, some local power generation facilities failed, resulting in a sharp increase in electricity demand. The U.S. Department of Energy declared an energy emergency in Texas. In addition to electricity, U.S. natural gas supplies are also stretched. The snowstorm caused the natural gas pipeline to freeze, and many natural gas wells were forced to stop production. According to Bloomberg, the current decline in U.S. natural gas production is at an all-time high. Meanwhile, domestic demand for natural gas in the United States reached its highest level in nearly four years.
The winter storm has led to a significant reduction in U.S. energy supplies Read Post »