Financial News · Live Terminal

Page 29 of 32

JPMorgan Adjusts Price Target on Diamondback Energy to $228 From $225, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $217.03, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$FANG

Equities25d ago

Berenberg Lowers Repsol Estimates, Price Target After Q1 Update

Berenberg cut its financial forecasts and price target for Repsol (REP.MC) after the Spanish energy group's first-quarter trading update."Repsol reported its Q1 2026 trading update on 9 April with a solid upstream performance offset by slightly weak numbers in refining - spot margins are volatile and the outlook here is likely to be key for Repsol over the coming months, in our view," analysts said Monday. "Overall, we reduce our Q1 group EBIT forecast to EUR1.3bn (5% ahead of Bloomberg) and our Q1 adjusted net income to EUR875m (5% behind Bloomberg). We take a slightly more cautious outlook on near-term refining margins and make some other modelling adjustments."Over 2026 to 2028, adjusted EPS estimates were reduced by 20.6%, 16.7%, and 18.6%, respectively. Projections for dividend per share were lowered by 4.7%, 4.5%, and 4.5%.Ahead of first-quarter earnings on April 30, the price target was cut to 27 euros from 29 euros, with an unchanged buy rating.

$REP.MC

Equities25d ago

BP Expects Flat Q1 Output, Flags Higher Net Debt

BP (BP) said Tuesday its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations.The company expects its group underlying effective tax rate to be around 35% and forecasts capital expenditure to remain broadly steady with the prior quarter at approximately $3.5 billion.Net debt is projected to rise to between $25 billion and $27 billion, driven largely by a $4 billion to $7 billion working capital build linked to higher commodity prices.BP said gas and low-carbon output will be slightly higher and oil production lower, with weaker retail volumes offset by stronger refining margins and exceptional oil trading.

$BP

Equities25d ago

Equinor Cuts Stake in Scatec

Equinor (EQNR) said Tuesday it has sold an 8.07% stake in Scatec at 125 Norwegian Krone ($13.26) per share, generating proceeds of about 1.6 billion Norwegian Krone.The company said it retains an 8.05% stake and has agreed to a 90-day lock-up on its remaining shares following the transaction.The companies will continue their joint operations in solar projects in Brazil, including Apodi and Mendubim, which are unaffected by the sale, it added.

$EQNR

Equities25d ago

Wildcat Petroleum Renames as Wildcat Gold

Wildcat Petroleum (WCAT.L) said Tuesday it changed its name to Wildcat Gold to reflect its new focus on gold processing projects.The petroleum investor's new name will take effect on the London stock exchange on Wednesday, without changing its ticker.

$WCAT.L

Equities25d ago

Block Energy Executes Binding Framework Deal to Farm-Out Project III in Georgia

Block Energy (BLOE.L) said Tuesday that it has executed a binding framework deal with China-based Zhijiang Sanning Energy Co. for the farm-out of Project III in Georgia.The UK-listed oil and gas company noted that the deal includes a $75 million carry comprising appraisal drilling and early construction for the project.Under the deal, subject to conditions, Block will retain a 49% stake and operatorship during the appraisal phase of Project III while retaining 100% ownership in Projects I, II, and IV.

$BLOE.L

Equities25d ago

Beacon Energy's LNE IOM Buys More Shares in LNEnergy via Rights Offering

Beacon Energy's (BCE.L) 49%-owned LNE IOM purchased additional shares in LNEnergy through a rights offering aimed at raising 780,000 pounds sterling.LNE IOM's shareholding in LNEnergy remains at 48% due to the full participation of the latter's shareholders, according to a Tuesday release.The UK-listed renewable energy company acquired a 24% stake in LNEnergy in March.

$BCE.L

Equities25d ago

Sunda Energy Makes Initial Deposit for Matahio Energy Acquisition

Sunda Energy (SNDA.L) said Tuesday it paid an initial deposit of $1.5 million to Matahio Ventures, the owner of Matahio Energy, for the acquisition of the company.The gas-focused exploration and appraisal company agreed to buy Matahio Energy, which holds several oil and gas exploration and production permits in New Zealand, for between $8 million and $14 million on April 8.Sunda also said it filed an application with the New Zealand authorities to secure the change of control of the operating companies of the permits.

$SNDA.L

Equities25d ago

Aramco Digital, Cumulocity to Deploy Artificial Intelligence Technology in Gulf

Saudi Arabian Oil (SASE:2222), d/b/a Saudi Aramco, unit Aramco Digital is collaborating with Cumulocity to jointly deliver industrial artificial intelligence of things technology across the Gulf Cooperation Council.As an initial deployment, Aramco Digital is implementing Cumulocity as the core platform for an advanced fleet management program supporting the Saudi energy giant's operations in Saudi Arabia.

$SASE:2222

Equities25d ago

Forgent Completes Equity Raise to Fund Majority Stake Purchase in Peak Hills Project

Forgent (FORG.L) said Tuesday it conditionally raised 1.3 million pounds sterling through a placement of 8,666,666,667 new shares at 0.00015 pound apiece.The energy transition company will use the net proceeds to finance the purchase of a 51% interest in the Peak Hills gold-copper exploration project in Australia, evaluation and due diligence for other assets under negotiation, fund expenses related to gasification business, as well as for general working capital.The placement is subject to approval at the company's upcoming extraordinary general meeting.

$FORG.L

Equities25d ago

Equinor Sells 8.1% Scatec Stake for NOK1.6 Billion

Oil and gas giant Equinor (EQNR.OL) sold an 8.07% stake in renewable energy company Scatec (SCATC.OL) for 1.6 billion Norwegian kroner.The transaction comprised 12.9 million Scatec shares priced at 125 kroner apiece, according to two separate releases published on Tuesday.Following the transaction, Equinor now holds 8.05% shareholding in Scatec.

$EQNR.OL$SCATC.OL

Equities25d ago

BP Flags 'Broadly Flat' Upstream Production in Q1

BP (BP.L) expects reported upstream production in the first quarter of 2026 to be "broadly flat," compared with the fourth quarter of 2025.The oil and gas giant said Monday that oil production and operations is expected to be slightly lower, compared with 1.6 million barrels of oil equivalent per day in the fourth quarter of 2025.Meanwhile, gas and low-carbon energy production in the first quarter of 2026 is estimated to be slightly higher, compared with 788,000 barrels of oil equivalent per day in the fourth quarter of 2025.

$BP.L

Equities25d ago

Zenith Energy Says Tunisia Acknowledges Concessions Ownership, Oil Output

Zenith Energy (ZENA.OL, ZEN.L) said Tuesday that Tunisia acknowledged that the Robbana and El Bibane production concessions and the oil produced under the concessions are held by the former's Ecumed Petroleum Tunisia unit.The North African country made the submissions as part of the ongoing arbitration proceedings before the International Centre for Settlement of Investment Disputes, initiated by Zenith's subsidiaries, according to a Tuesday release.The 3,987 barrels of oil produced from the concessions remain unsold since 2022 due to repeated obstructions by Tunisian authorities, the energy production and development company said. Zenith also claims that the Robbana production concession site has been non-operational for the past year due to vandalism and theft, and will require a rehabilitation program to resume operations.

$ZEN.L$ZENA.OL

Equities25d ago

TGS Secures New Data Acquisition Contract for European Offshore Wind Site

TGS (TGS.OL) secured a new 1.5-month data acquisition contract for an offshore wind site in Europe.The energy data and intelligence company said Tuesday that its Ramform Vanguard seismic vessel will start acquisition in the second half of July.

$TGS.OL

Equities25d ago

Chevron Enters Asset Swap Agreement With Petroleos de Venezuela

Chevron (CVX) said late Monday it has agreed to an asset swap with Petroleos de Venezuela via its subsidiaries in the country to consolidate its heavy oil position.Under the agreement, Chevron will receive an additional 13.21% working interest in the Petroindependencia joint venture, according to a statement.The Petropiar JV was offered the rights to develop the Ayacucho 8 area located in the Orinoco Oil Belt of Venezuela, the company said.Venezuela will receive from Chevron its 60% and 100% operated interests in the offshore Plataforma Deltana Block 2 and Block 3 gas licenses, respectively, and its 25.2% non-operated interest in the Petroindependiente JV, according to the company.

$CVX

Equities25d ago

Oil Prices Rise Above $100 as Deadline For US Blockade of Iranian Ports Passes

Oil prices rose above $100 per barrel on Monday as the deadline passed for the start of a US blockade of maritime traffic around Iran's ports.West Texas Intermediate crude oil was up 5.9% at $102.27 per barrel, having traded as high as $105.62 earlier in the session. Brent crude jumped 6% to $100.95 per barrel, after rising to $103.87 earlier in the day.The blockade of maritime traffic entering and exiting Iranian ports was set to start at 10 am ET on Monday, according to a statement issued by the US Central Command, or CENTCOM, on Sunday."The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman," the statement said. "CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports."Iran's Islamic Revolutionary Guard Corps has vowed to retaliate, CNN reported Monday.In a social media post on Sunday, President Donald Trump said that the US navy will block "any and all ships trying to enter, or leave, the Strait of Hormuz," the world's most important chokepoint for crude flows."Once again, high stakes negotiations between the US and Iran deadlocked over Washington's zero uranium enrichment demand, setting the stage for further escalation in the (six)-week war and prolonged supply disruptions in advance of summer driving season," Helima Croft, head of global commodity strategy and Middle East and North Africa research at RBC Capital Markets, said in a report e-mailed toon Monday.Trump is mulling over limited strikes against Iran following the failed peace negotiations, The Wall Street Journal reported, citing people familiar with the situation.Besides uranium enrichment, Iran's control of the Strait of Hormuz was among the sticky issues between the two sides, Tudor Pickering Holt said in a note, citing media reports."The US appears to have rejected Iran's sovereignty claim to Hormuz (including toll collection) while Iran views the Strait's reopening as contingent on a final deal," Tudor Pickering Holt analyst Matt Portillo said in the note sent to.

Equities26d ago

Norwegian Energy Giant Equinor Plans to Halve Scatec Stake

Equinor (EQNR.OL) is considering selling an 8.1% stake in Scatec (SCATC.OL) through an accelerated bookbuild process, according to a Monday release.The Norwegian energy giant will sell the 12.9 million placing shares to eligible institutional and other professional investors, with pricing scheduled for Tuesday and settlement to follow a normal delivery-versus-payment basis.Norwegian solar power producer Scatec will not receive any net proceeds from the transaction. Equinor, meanwhile, will retain a shareholding of 12.9 million shares after the placing completes.

$EQNR.OL$SCATC.OL

Equities26d ago

EU to Present Proposals on Electricity Taxes, Grids Charges in May Amid Energy Crisis

The European Commission will present legislative proposals on electricity taxes and grids charges in May to help reduce energy bill costs amid the fossil fuel crisis caused by the ongoing war in the Middle East."We will also coordinate oil stock releases, to achieve the largest possible effect of these releases. And we will ensure that Member States' emergency measures will not impact the Single Market," Commission President Ursula von der Leyen said Monday, noting that the EU's bill for fossil fuel imports has surged by more than 22 billion euros since the war began 44 days ago.In her speech regarding the impact of the war on the European Union, von der Leyen stressed the importance of coordination among EU member states to deal with the energy crisis and the need to hasten the electrification of the bloc's economy by shifting electricity generation to renewable and nuclear power "as rapidly as possible."

$^SXXP

Equities26d ago

Equinor Proposes Capital Reduction Via Share Cancellation, Redemption

Equinor's (EQNR.OL) board intends to propose the reduction of its share capital to 5.98 billion Norwegian kroner from 6.39 billion kroner at its annual general meeting.The proposal supports the Norwegian oil and gas giant's share buyback program and the redemption of shares held by the Norwegian government, according to a Monday release. Equinor will cancel and redeem 166,058,472 of its shares in total.The AGM is scheduled on May 12, according to the company's website.

$EQNR.OL

Equities26d ago

Update: Bernstein Adjusts Price Target on Devon Energy to $59 From $42, Maintains Outperform Rating

(The price target change is from March 19).Devon Energy (DVN) has an average rating of overweight and mean price target of $58.31, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$DVN

Showing 561-580 of 637

Equities25d ago