By Paul Sankey
Published on May 4, 2021 at 8:41 AM
As we hoped, oils’ results are going great. The sector is powering higher, with the overall steady outperformance grind that has resumed in value over growth. The oil price for Q2 is tracking well ahead of these results, further boosting the EPS upgrade cycle. Huge result from Suncor; great commentary on cash return from COP, a surprise beat from Marathon Petroleum with major disposal and buyback coming… good results from head-to-head rivals Diamondback and Aramco, […]
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By Paul Sankey
Published on February 5, 2021 at 8:34 AM
Max bullish oil here, buy oil leverage. That was the Happy Hour call last evening. By November last year we were saying “All in on the equities” and we ended the year with six investment grade oil stocks and six speculative oil stocks with the call: “buy both groups.” Key specifics: 2022 oil futures a bargain at $52/bbl, Oxy for operational (Brent) and financial (massive debt) leverage. MEG in Canada. Watch out for natgas exposure […]
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By Paul Sankey
Published on December 21, 2020 at 9:25 AM
Just as we highlighted yesterday that the oils are stretched on valuation, we get a couple of face slaps this morning. We are sticking with our call for $35/bbl Brent in Q1 on a major dollar rally. See our oils overvalued story here: https://www.sankeyresearch.com/2020/12/20/sunday-sankey-12-20-20/ And we have a couple of classics today: Don’t expect analysts to love a deal announced during Christmas week, but Diamondback $FANG has announced a deal to take over QEP. Diamondback […]
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