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Eni CEO Warns About Libya Situation
Friday, March 11, 2011 - 3:01am | 235Paolo Scaroni, the CEO of Eni SpA (NYSE: E), Italy's largest oil company, warned against the dangers of allowing the situation in Libya to transform Africa's third-largest oil producer into a failed state along the lines of Somalia. “What would be the worst potential outcome is to have a kind of...
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Top American Oil Royalty Income Trusts
Thursday, March 10, 2011 - 10:37pm | 622Now that oil is over $100 a barrel, income investors are taking a closer look at oil and gas income investments. Several options are available. First, there are the stocks of the multinational oil companies, such as Exxon Mobil Corp. (XOM) with a 2.1% yield and ConocoPhillips (COP), which has a 3.3...
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Puts are Your Friend 03-10-11
Thursday, March 10, 2011 - 6:41pm | 919Cusick's Corner Shots fired in Saudi Arabia, the market finished at its worst levels, and for the first time all year this market is looking truly distressed. This action is exactly why I have been discussing protection and spread trading. Mitigating risk tactics are essential, especially when...
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Benzinga's Top ETF Gainers, March 10th (ERY, EDZ, TZA, SOXS)
Thursday, March 10, 2011 - 6:28pm | 241Direxion Daily Energy Bear 3X Shares(ETF) (NYSE: ERY) spiked 10.82% on Thursday on the weakness in the energy stocks. This was the fifth trading session in a row that ERY closed higher. In the space, Schlumberger Limited (NYSE: SLB) fell 4.45%, and Exxon Mobil Corporation (NYSE: XOM) dropped 3.56...
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Sold! 03-10-2011
Thursday, March 10, 2011 - 2:29pm | 913Cusick's Corner “Sold!” -- that is all you heard this morning, major averages are all challenging the mid-term support. The 50-Day MA is potentially putting the longs on alert and giving the technicals fuel to ramp up. With the Claims deficit data coming in higher than expectations, China...
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Morgan Stanley Raises PT on Petrobras to $50 (PBR)
Thursday, March 10, 2011 - 9:02am | 129Morgan Stanley is out with its report today on Petrobras (NYSE: PBR), raising its PT from $45 to $50. In a note to clients, Morgan Stanley writes, "We raise our EPS estimates on an expected increase in retail prices in 2H11; and up our price target to $50 from $45. Our estimates rise by 10% for...
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A Peek Into The Market Before The Trading Starts
Thursday, March 10, 2011 - 7:30am | 408Pre-open moversUS stock futures are lower this morning, after the drop in Asian and European markets, due to worse-than-expected Chinese trade data. Futures on the Dow Jones Industrial Average dropped 47 points to 12,127.00 and futures on the S&P 500 stock index fell 7 points to 1,308.40....
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Oppenheimer Raises PT On Marathon Oil To $62
Thursday, March 10, 2011 - 7:08am | 28Oppenheimer has raised the price target on Marathon Oil (NYSE: MRO) from $52 to $62 and maintains its Outperform rating.
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Valero To Buy Chevron's U.K. Refinery For $2B
Thursday, March 10, 2011 - 2:36am | 153Valero (NYSE: VLO), the largest U.S. refiner, is reportedly close to acquiring Chevron's (NYSE: CVX) Pembroke refinery in the U.K. for $2 billion, Bloomberg News reported, citing sources with knowledge of the matter. The deal could be made public as soon as Thursday morning. Chevron, the second-...
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To Tweet Or Not To Tweet (BP)
Wednesday, March 9, 2011 - 1:10pm | 365It has been nearly a year since the explosion on the Deepwater Horizon rig, an epic disaster that exposed BP (NYSE: BP) to government censure, litigation, and costs that would rise to billions. Of course, when your company is responsible for spilling millions of gallons of oil into the Gulf of...
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Exxon To Boost Crude Production By Spending $100 Million A Day (XOM)
Wednesday, March 9, 2011 - 12:37pm | 176Exxon Mobil (NYSE: XOM), the world's largest company by market value, plans to spend the princely sum of $100 million each day on new oil wells and natural gas plants. Bloomberg reported today that Exxon has $34 billion in its budget for capital projects in 2011, a 5.6 percent increase from last...
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Top 4 Large-Cap Stocks In The Major Integrated Oil & Gas Industry With The Highest Profit Margin (ECA, SSL, CVX, XOM)
Wednesday, March 9, 2011 - 2:45am | 143Below are the top large-cap major integrated oil & gas stocks on the NYSE and the NASDAQ in terms of profit margin. The trailing-twelve-month profit margin at Encana Corporation (NYSE: ECA) is 16.90%. ECA's revenue for the same period is $8.87 billion. The trailing-twelve-month profit margin...
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Mad Money Lightning Round: Cramer Likes Freeport-McMoRan (PVX, KMP, EPD, TPX, FCX, GOLD, GG)
Wednesday, March 9, 2011 - 2:42am | 208On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Provident Energy Trust (NYSE: PVX) is “my kind of company.” He added, “It's not as good as Kinder Morgan Energy Partners (NYSE: KMP) or Enterprise Products Partners (NYSE: EPD). But it's just a plain good stock." Cramer said...
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Hess Corp. Chairman Sells 90,000 Shares of HES
Tuesday, March 8, 2011 - 5:11pm | 69In a Form 4 filed earlier today, Hess Corp. (NYSE: HES) Chairman of the Board, John Hess, reported that he sold 90,000 shares of HES on March 7th for an average price of $84.68. The transaction totaled $7,621,353. This sale was 10b5-1 Plan indicated. Mr. Hess owns 10,116,376 direct shares of HES...
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CNNMoney: Petrobras (PBR) Destined to Pass ExxonMobil as Global Oil Colossus
Tuesday, March 8, 2011 - 2:47pm | 1519I have not written about Brazilian oil giant Petrobras (PBR) because frankly the stock has been a quite poor performer due to its pseudo government-private stature. Sort of the Fannie Mae of oil production. With the recent spike in oil, the stock has perked up, but some horrid terms on a share...