CHICAGO, Sept. 17, 2013 /PRNewswire/ -- 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 the Eni SpA (NYSE:E-Free Report), ExxonMobil Corporation (XOM-Free Report), Total SA (TOT-Free Report), ConocoPhillips (COP-Free Report) and Albemarle Corporation (ALB-Free Report).
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Monday's Analyst Blog:
Eni's Kashagan Flows First Oil
Italian oil and gas company Eni SpA (NYSE:E-Free Report) announced that the giant Kashagan oil field in Kazakhstan has started producing oil.
Located in the North Caspian Sea, approximately 80 kilometers southeast of Atyrau, in Kazakhstan – the Kashagan oil field – remains one of the largest finds. Since the field was discovered back in 2000, it clearly hints at the challenges faced by companies in discovering such vast resources today.
The production from the field got delayed by almost a decade. Moreover, its $41.2 billion cost makes it the most expensive oil project. Various technical problems, dispute with the Kazakh government and disagreement among oil companies were the main reasons for the delay.
Eni has a stake of 16.81% in the consortium for the development of Kashagan. The company is also accountable for development and start of production of the field through Agip Kazakhstan North Caspian Operating Company.
The consortium is represented by NCOC (North Caspian Operating Company), which operates within the North Caspian Sea Production Sharing Agreement (NCSPSA). Other partners include KazMunayGas, ExxonMobil Corporation (XOM-Free Report), Royal Dutch Shell plc (RDS.A), Total SA (TOT-Free Report), ConocoPhillips (COP-Free Report) and Inpex, holding 16.81%, 16.81%, 16.81%, 16.81%, 8.4% and 7.56%, respectively.
Inspite of having drilled several wells, the initial yield was just 26,000 barrels a day. Eventually, the project is expected to add around 1.5 million barrels of oil per day to the global yield. This amount will be equivalent to around 1.6% of the world's total or roughly the amount Libya produces.
The yield is projected to grow up to 180,000 barrels per day, in the initial phase, until the spring of 2014 and gradually increase to about 370,000 barrels of oil equivalent per day by the end of 2014 and the beginning of 2015.
Considered as one of the most complex and challenging industrial projects worldwide, the oilfield is estimated to hold recoverable resources of 35 billion barrels of oil in place.
Eni carries a Zacks Rank #3 (Hold).
Albemarle Downgraded to Strong Sell
On Sep 14, Zacks Investment Research downgraded chemical company Albemarle Corporation (ALB-Free Report) to a Zacks Rank #5 (Strong Sell).
Why Downgraded?
Albemarle posted disappointing second-quarter 2013 results on Jul 17. The company reported adjusted earnings (excluding non-operating items) of 97 cents a share in the quarter compared with $1.28 a share earned in the year-ago quarter. The results were below the Zacks Consensus Estimate of 99 cents.
The company delivered negative earnings surprises in two of the last four quarters, but it recorded an average positive surprise of 3.01% for the last four quarters.
Revenues decreased 7.4% to $634.2 million in the quarter from $684.9 million in the year-ago quarter, missing the Zacks Consensus Estimate of $660 million. The results were impacted by Albemarle's exit from the phosphorus flame retardants business, lower metals surcharges, unfavorable pricing in bromine portfolio and lower Fine Chemistry Services volumes, partly offset by favorable volumes in Refinery Catalysts and Brominated Flame Retardant businesses.
Net sales in the Fine Chemistry segment slipped 16% to $176.1 million in the second quarter from $208.1 million in the previous-year quarter primarily due to unfavorable sales volumes and pricing. Net sales in the polymer solutions segment also slipped 9% to $224.3 million due to phosphorus flame retardants business exit in the second quarter of 2012 and overall lower flame retardant pricing, partly offset by favorable flame retardants volumes.
Sluggish economic environment across Europe, weak electronics and construction markets, and lower metals surcharges at the beginning of 2013 impacted Albemarle's performance. However, Albemarle successfully met several key milestones with the bromine and organometallics expansions, which are expected to be beneficial to the company on a long-term basis.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; 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.
Get the full Report on E - FREE
Get the full Report on XOM - FREE
Get the full Report on TOT - FREE
Get the full Report on COP - FREE
Get the full Report on ALB - FREE
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
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
SOURCE Zacks Investment Research, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article