Zacks Analyst Blog Highlights: ExxonMobil Corporation, Chevron Corporation, ConocoPhillips, Hess Corporation and Humana Inc. - Press Releases
For Immediate Release
Chicago, IL – February 2, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: ExxonMobil Corporation (XOM), Chevron Corporation (CVX), ConocoPhillips (COP), Hess Corporation (HES) and Humana Inc. (HUM).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday’s Analyst Blog:
Exxon Beats but Net Sinks
ExxonMobil Corporation (XOM) reported fourth quarter 2009 earnings of $1.27 per share, compared to the Zacks Consensus Estimate of $1.20 and year-earlier earnings of $1.54.
Weak refining and marketing (R&M) margins hit all the super majors hard in the fourth quarter. Like Exxon, Chevron Corporation (CVX), ConocoPhillips (COP), Hess Corporation (HES) were all affected by poor R&M margins.
However, with a sound cash position, solid credit profile and diverse asset base, both in terms of business mix as well as geographical footprint, Exxon remains better positioned than any of its peers.
The weak margins at XOM caused a 23% drop in earnings from the year-earlier quarter to $6.05 billion. Upstream earnings were up nearly 2.5% year-over-year to $5.78 billion, driven by higher crude oil realizations, partially offset by lower natural gas realizations.
The production of oil and natural gas averaged 4.18 million oil-equivalent barrels per day, up approximately 2% year over year. When adjusted for the impact of entitlement volumes and OPEC quota restrictions, production was up about 3%. Exxon’s refinery throughput averaged 5.38 million barrels per day, up more than 1% from the year-earlier level.
Exxon's total refined product sales of 6.49 million barrels per day were down 4% year over year, reflecting the depressed demand environment. Total product sales in XOM's Chemicals business increased almost 19% year over year.
Cash flow from operations and asset sales totaled $8.9 billion, down from $12.3 billion in the fourth quarter of 2008. Capital expenditures totaled $8.26 billion during the quarter, up 21% year-over-year. We are currently Neutral on ExxonMobil shares.
In-Line Quarter for Humana
Humana Inc. (HUM) reported fourth quarter and full-year results for fiscal 2009.
Humana reported fourth-quarter earnings of $1.48 per share, in line with the Zacks Consensus Estimate. The company earned $1.03 per share for the year-ago quarter. Results were helped by lower prescription drug plan (PDP) claim expenses in the reported quarter.
Consolidated revenues for the quarter came in at $7.63 billion compared to $7.49 billion in the year-ago quarter, up approximately 2% with total premium and administrative service fees rising 2% from the prior-year quarter primarily because of increases in both average membership and per-member premiums for the company’s Medicare Advantage products.
The latest quarter’s consolidated benefit ratio, which reflects the percentage of benefit expenses in premium revenues, decreased to 81.8% from 83.3% in the prior-year quarter. The decrease of 150 basis points was primarily attributable to a 240 basis points decrease in the Government Segment benefit ratio, partially offset by the rise of 130 basis points in the Commercial Segment benefit ratio.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
