By Paul Sankey
Published on April 20, 2024 at 10:16 AM
A major client liked the chart we published last week, highlighting that Schlumberger has a pattern of under-performing quarterly earnings reports. Quod Errat Demonstrandum, as SLB under-performed on its results yesterday, despite a headline beat. All you can analyse is the margins, and guidance outlook change. They came in neutral to mildly negative on a stock that is relatively expensive. SLB was down -2.14% in a tape which saw the mighty energy sector XLE power …
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By Paul Sankey
Published on April 11, 2024 at 8:51 AM
Tonight on Happy Hour, Willie Chiang, CEO of Plains all American Register here for this PREMIUM EVENT. 4PM TODAY BY ZOOM. Sankey Strategy Session | PAA CEO, Willie Chiang – Interest Form This guy is no dummy, quite the contrary, advanced MBA from Wharton-to-CEO, 20 years in big oil C-Suites, a decent effort, to say the least. And like so many other senior oil executives, Willie is just about the nicest, most thoughtful man you …
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By Paul Sankey
Published on April 6, 2024 at 2:38 PM
In this note we consider BP’s position in BPX, its US onshore play, in the context of the overall investment case for BP. Source: BP The following thoughts emerged, embracing multiple metaphors: “A camel is a horse designed by a committee”. BP seems designed by committee. It is a jack of all trades, where it should be the master of one. What is the elevator pitch for buying a stock? BP takes a trans-continental train …
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