By Paul Sankey
Published on January 21, 2024 at 4:55 PM
Good day, There it is: Market at a record high. Congratulations to the wealthy of the USA. The top 10% of wealthiest Americans own 89% of stocks ($28 trillion). Americans in the 50th to 90th percentile of wealth own 11% of stocks ($3.4 trillion). Americans in the bottom 50% own <1% of stocks ($19 billion). As we say, the rich get richer and the poor migrate. Today we take a graphic-heavy run through some charts, …
Read More
By Paul Sankey
Published on January 16, 2024 at 4:48 PM
The hottest company in the Permian right now, and our TOP PICK for 2023 in US Exploration and Production (E&P), is barely known on Wall Street, nay, barely known outside their home city of Midland, West Texas. PERMIAN RESOURCES ($PR) is a $10B market capitalization, $14B enterprise value (EV) company producing some 300 thousand barrels of oil equivalent per day (kboe/d) of which just under half is oil. Management has an excellent reputation among those …
Read More
By Paul Sankey
Published on January 7, 2024 at 3:43 PM
Just back from Miami, quite the weather in the North East. Tomorrrow 2pm we round out the refining conference so far with Phillips 66. Register here: Phillips 66 (PSX): Mark Lashier – CEO, Kevin Mitchell – CFO, & Jeff Dietert -VP, IR https://sankeyresearch.com/conference/2024-sankey-refining-conference-interest-form/ Broadly speaking having been tested to the extreme by COVID, a truly worst-case scenario in macro terms, the refiners are in very good shape to start the year. Best potential to surprise …
Read More
