Financial News · Live Terminal

Page 40 of 119

BP JV Boosts Stakes in Belgian Offshore Wind Farms

British oil and gas giant BP's (BP.L) Jera Nex bp joint venture acquired Sumitomo's stakes in the Nobelwind and Northwester 2 offshore wind farms in Belgium.Jera Nex bp acquired a 30% stake in Northwester 2, taking full ownership, and a 39.02% stake in Nobelwind, raising its interest in the wind farm to 80.1%, according to a Friday release.The joint venture with Jera Co. operates both wind farms and serves as their developer.

^SXXP$BP.L

Equities39d ago

United Oil & Gas Raises Funds via Share Placing

United Oil & Gas (UOG.L) raised 500,000 pounds sterling in gross proceeds through a share placing to two long-term institutional shareholders.The London-listed oil and gas company placed 250 million shares priced at 0.002 pound apiece and plans to use the net proceeds to bolster its working capital position, according to a Friday release.

$UOG.L

Equities39d ago

Helix Exploration Raises GBP16 Million from Share Placement

Helix Exploration (HEX.L) said Friday it raised 16 million pounds sterling from the placement of 72,727,273 shares at 0.22 pound apiece.The US-based helium exploration and development company is also offering shares to retail investors via RetailBook, seeking to raise an additional 1.6 million pounds. The retail offering is scheduled to close Friday.

$HEX.L

Equities39d ago

Potomac View Investments Exits Harbour Energy Shareholding

Potomac View Investments sold 54,775,572 shares in Harbour Energy (HBR.L), corresponding to 3.5% of the latter's issued share capital, through an accelerated bookbuild process.The shares were sold at 2.05 pounds sterling apiece, generating 112 million pounds of gross proceeds for Potomac View Investments, according to a Friday release.Potomac View Investments no longer owns any shares in the London-listed energy company following the conclusion of the secondary placing.

$HBR.L

Equities39d ago

Potomac View Investments to Sell 3.5% Stake in Harbour Energy Via Share Placing

Harbour Energy (HBR.L) shareholder Potomac View Investments plans to sell its remaining 3.5% stake in the company through a share placing to institutional investors.The shareholder will sell 54.8 million shares in the energy company at a price to be determined via an accelerated bookbuilding process, according to a Thursday filing. The bookbuilding is set to commence immediately.Harbour Energy will not receive any proceeds from the placing.Barclays Bank is the sole global coordinator and sole bookrunner for the placing.

$HBR.L

Equities39d ago

S&P 500 Posts Weekly Rise Ahead of Fourth of July, Led by Communication Services

The Standard & Poor's 500 index rose 1.8% this week, led by gains in communication services and financials ahead of the holiday weekend.The S&P 500 ended Thursday's session at 7,483.24. This marks the end of the trading week as the US stock market will be closed on Friday in observance of Independence Day.Earlier this week, the S&P 500 closed out June with a 1.1% loss, its first monthly decline since March. Still, it gained 15% in the second quarter and 9.6% in the first half of 2026.On Thursday, US jobs data for June came in mixed. The data showed the US economy added fewer jobs than expected in June, yet the unemployment rate came in lower than forecast.Total nonfarm payrolls rose by 57,000 last month, representing the weakest tally since February and a notable miss versus the consensus estimate for an 113,000 increase. Also, May's gain was downwardly revised to 129,000 from an initial 172,000, while April's tally was lowered to 148,000 from 179,000.Nevertheless, the unemployment rate ticked down to 4.2% from 4.3%. The rate had been expected to remain at 4.3%.Communication services was the best performing sector this week, climbing 4.9%, followed by a 3.7% advance in financials, a 2.8% increase in consumer discretionary and a 2.1% rise in health care. Industrials and materials also rose by more than 1% each, while technology and consumer staples edged higher.Fox (FOXA, FOX) had the largest percentage gains in communication services for the week, with its Class A shares jumping 13% and Class B shares rising 10%. A regulatory filing showed the company entered into a $1 billion senior unsecured term loan credit agreement to help fund a portion of the cash consideration for its pending acquisition of Roku (ROKU). The two-year term loan facility will be available upon completion of the acquisition, with Fox also able to borrow up to an additional $1 billion, it said.Robinhood Markets (HOOD) led the climb in financials, gaining 14%. The company launched perpetual futures with no expiry date tied to commodities like gold, silver, and crude oil, as well as exchange-traded funds, and currencies in Europe, multiple media outlets reported.Real estate declined 1.5% while utilities and energy shed 1% each.Digital Realty (DLR) was among the hardest-hit stocks in real estate, falling 10%. The company said on Tuesday that it priced a secondary public offering of 12.3 million shares by affiliates of Blackstone (BX) at $185.00 each, representing a discount to its Monday closing price of $190.58.Quarterly earnings reports next week are expected from companies including PepsiCo (PEP) and Delta Air Lines (DAL).Economic data will include May consumer credit, June existing home sales, and the June Services Purchasing Managers' Index or PMI.

Dow JonesNasdaq CompositeS&P 500$DLR$FOX$FOXA$HOOD

Equities40d ago

UBS Adjusts EOG Resources Price Target to $158 From $168, Maintains Buy Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $159.50, according to analysts polled by FactSet.Price: $130.39, Change: $+1.80, Percent Change: +1.40%

$EOG

Equities40d ago

Vivakor Extends Target Closing Date for Sale of CPE Gathering Business to Olenox

Vivakor (VIVK) said Thursday it now targets to close the proposed sale of its CPE Gathering MidCon business to Olenox Industries (OLOX) on July 31.The company said it amended its letter of intent to extend the closing date from its original target of around March 31 to provide more time for the parties to complete due diligence, obtain approvals, finalize definitive agreements, and meet other closing conditions.The proposed sale, valued at approximately $36 million, covers CPE Gathering's Oklahoma crude oil midstream system and transportation assets, Vivakor said.Vivakor and Olenox shares were up 1.5% and 2.7% respectively in early Thursday trading.Price: $0.35, Change: $+0.01, Percent Change: +1.45%

$OLOX$VIVK

Equities40d ago

Adnoc's XRG Completes Increased Stake in Rio Grande LNG Project in US

XRG completed the process to raise its stake in the Rio Grande LNG project in Texas, US, according to a Thursday release.The energy and chemicals investment unit of Abu Dhabi National Oil, d/b/a Adnoc, acquired an additional 7.6% equity interest in trains 4 and 5 of the project from BlackRock's Global Infrastructure Partners.XRG said it now holds interests across all five trains currently under construction at the Rio Grande LNG project, which is expected to begin production of liquefied natural gas in the first half of 2027.

^FADGI

Equities40d ago

Chevron Seen Offering Positive Risk-Reward on Improving Execution, RBC Says

Chevron (CVX) continues to offer positive risk-reward as declining capital intensity across key upstream projects and emerging opportunities across its portfolio strengthen the company's long-term outlook, RBC Capital Markets said in a Thursday note.The investment firm said Chevron has moved beyond a capital-intensive investment phase, with the Permian and Kazakhstan projects now contributing toward free cash flow harvest mode.RBC also said the recently acquired Hess assets are expected to support volume growth over the coming years.The firm said management remains focused on balance sheet strength and project execution despite recent oil price volatility.RBC maintained its outperform rating on Chevron and $220 price target.

$CVX

Equities40d ago

Equinor Maintained at Underperform as RBC Notes International Growth Efforts

RBC Capital Markets maintained its underperform rating on Equinor (EQNR.OL), citing a "more cautious" view on the international gas market in the coming years and the company's relative valuation."As in recent years, European gas prices are set to dominate the investment case for Equinor. If repairs to damaged facilities in Qatar from the US-Iran war take much longer than expected or LNG flows through the Strait take a long time to normalise, this could drive material upside for prices. Our base case assumes a revert to norm over the course of the coming months, which still leaves us in a relatively sloppy international gas macro for 2027+," analysts said Thursday, following the Norwegian energy company's recent capital markets day and roadshow events with its executives.The research firm also noted Equinor's efforts in further expanding its growth projects globally, with increasing focus in the international exploration and production segment as it aims to achieve a 30% growth in international oil and gas production by 2030.The price target for the stock stands at 360 Norwegian kroner.

$EQNR.OL

Equities40d ago

Alliance Resource Completes $206.2 Million Acquisition of Energy Assets

Alliance Resource Partners (ARLP) has completed its acquisition of certain general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for around $206.2 million, the company said Thursday.Alliance Resource funded the deal using a combination of cash, borrowings under its revolving credit facility, and a new $150 million term loan from its Alliance Minerals subsidiary, the company said.Alliance Resource now controls around 115,680 acres within its oil and gas royalties segment, including more than 44,770 net royalty acres in the Permian Basin, following the deal, it said.

$ARLP

Equities40d ago

Ring Energy Pays Down $66 Million in Debt, Reaffirms Borrowing Base at $585 Million

Ring Energy (REI) paid down $66 million in debt during the second quarter, with its borrowing base under its $1 billion senior revolving credit facility reaffirmed at $585 million, the company said Thursday.Total debt outstanding under the credit facility stood at $360 million as of June 30, the company said. The next borrowing base redetermination is scheduled for fall 2026.Ring Energy also said the credit facility was amended to eliminate the 10-basis-point SOFR credit spread adjustment.Ring Energy used net proceeds from its recently completed equity offering and cash flow from operations to pay down the debt. As of June 30, the company increased its liquidity to $226.1 million from $160 million at March 31.

$REI

Equities40d ago

Genel Energy Mulls Tap Issue of Bond due 2030

Genel Energy (GENL.L) said Thursday it is considering a tap issue of its outstanding senior unsecured bond due April 2030, subject to market conditions.The UK-listed oil producer, which engaged Pareto Securities as manager and bookrunner, plans to use the proceeds for general corporate purposes.

$GENL.L

Equities40d ago

Berenberg Expects 'Strong' Downstream to Benefit BP's Q2 Results; Price Target, Estimates Down

Berenberg anticipates BP's (BP.L) second-quarter performance will be supported by a robust downstream demand."We expect Q2 results broadly in line with current consensus, with a strong downstream result, driven by sharply higher refining margins, offsetting a weaker oil result (relative to consensus) due to lower volumes," according to a Wednesday note. The British energy giant is scheduled to report its second-quarter earnings on Aug. 4."The recent sharp fall in oil prices poses downside risks to our earnings estimates in H2 2026 and 2027, and the departure of chairman Albert Manifold has also highlighted the ongoing churn among leadership at BP, raising fears that the focus and urgency he was looking to bring to cost reductions and balance-sheet strengthening may be diluted. However, we expect the CEO to continue the focus on simplification and cost reductions, and we expect Q2 to contribute to a meaningful balance sheet improvement," analysts added, noting that robust cash generation and strategic divestments could support outperformance into the year-end.Against this backdrop, the research firm revised its full-year 2026 and 2027 earnings forecasts downwards by 3.5% and 5.5%, respectively, reflecting lower anticipated oil earnings and elevated corporate expenses and minorities. Berenberg also trimmed its price target to 5.90 pounds sterling from 7 pounds and left its buy rating unchanged.

$BP.L

Equities40d ago

Jefferies Adjusts Price Target on EQT to $75 From $77, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.85, 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://finwires.com/en/contact)

$EQT

Equities40d ago

Jefferies Adjusts Price Target on EOG Resources to $175 From $170, Maintains Buy Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $159.50, 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://finwires.com/en/contact)

$EOG

Equities40d ago

BofA Double Upgrades Air Liquide to Buy Amid Record Electronics Backlog; Price Objective, Forecasts Up

BofA Global Research double-upgraded Air Liquide (AI.PA) to buy from underperform, noting the industrial gas company's record backlog in electronics."Air Liquide is the number one supplier of gases used in the semiconductor manufacturing process such as high purity nitrogen and noble gases. Our analysis concludes that the Electronics franchise is set to organically grow at c14% through 2026-30E, eﬀectively double the rate in consensus," analysts wrote in a Wednesday note. "We therefore see Electronics becoming an increasingly important contributor, driving c40% of our estimated 4.5% group organic growth in FY'27E and expect it also to be margin accretive."Looking ahead, the research firm said its EBIT projections for 2028 to 2030 are above the Visible Alpha-compiled consensus by 2%, 4%, and 5%, respectively. "Given the multi-year nature of fab construction, the benefit from Electronics backlog will become more apparent in later years," BofA added.The stock's price objective increased to 200 euros from 159 euros, as EPS forecasts for 2026 to 2028 rose to reflect the 1-for-10 free share attribution.

$AI.PA

Equities40d ago

JPMorgan Adjusts Price Target on Valero Energy to $294 From $299, Maintains Overweight Rating

Valero Energy (VLO) has an average rating of overweight and mean price target of $269.88, 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://finwires.com/en/contact)

$VLO

Equities40d ago

TD Cowen Adjusts Price Target on Chevron to $197 From $205, Maintains Hold Rating

Chevron (CVX) has an average rating of overweight and mean price target of $216.91, 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://finwires.com/en/contact)

$CVX

Showing 781-800 of 2379

Equities39d ago

S&P 500 Posts Weekly Rise Ahead of Fourth of July, Led by Communication Services

Dow JonesNasdaq CompositeS&P 500$DLR$FOX$FOXA$HOOD