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David Einhorn's Top New Buys Still Appear Undervalued

Tue, 11 Jun 2013 08:21:02 -0400

We can’t say for sure what David Einhorn’s exact analysis process is, but some of his largest adds of the first quarter still appear undervalued. Einhorn’s Greenlight Capital hedge fund rose 8.8% this year through May 31, 2013 compared to 10% for the S&P 500, and most of his new purchases of the first quarter have appreciated modestly. Given what a proven stock picker Einhorn is, the holdings could still have more room to increase.

The Utica Is Quite ‘Gassy’ … And That’s OK

Fri, 31 May 2013 06:23:58 -0400

Valero’s Retail Spinoff Is Worth Watching

Tue, 21 May 2013 07:04:19 -0400

Oil refineries like Valero are opting to close or spin off their retail operations to streamline profits. But while VLO might not want CST Brands, investors should.

Valero’s Retail Spinoff Is Worth Watching

Tue, 21 May 2013 07:04:19 -0400

John Hess Saves Face In Last-Minute Truce With Elliott Management

Thu, 16 May 2013 12:41:06 -0400

In a flurry of horsetrading just hours ahead of what was expected to be a rancorous annual meeting, John Hess, CEO of Hess Corp., cut a deal with dissident shareholders from Elliott Management. With it, Hess was able to save face in front of his shareholders today, even though with this, and the other concessions he's made recently, his world has been turned upside down.

Eleventh-Hour Deal Ends Hess Proxy Fight: Elliott Gets Three Board Seats

Thu, 16 May 2013 08:50:11 -0400

Last week, Hess agreed to split John Hess' chairman and CEO roles in an effort to appease Paul Singer's Elliott Management. Thursday they went even further in an effort to avoid defeat in a proxy contest set to reach its climax.

Carl Icahn

Tue, 14 May 2013 17:08:44 -0400

'Carl Icahn Deserves The Nobel Prize'

Tue, 14 May 2013 17:08:44 -0400

According to my old friend Robert A.G. Monks -- at 80 years of age still the sharpest thinking corporate governance guru in the world-- Carl Icahn, the 77 year old summa cum laude graduate of Princeton University (thw wealthiest man on Wall Street), should get the Nobel for leading America's hedge fund community to the dynamic legitimization of the corporate governance movement in America. By Monks' reckoning-- and he's been waging war on inept managements as well as passive institutional investors for some time now-- the take-no-prisoners hedge fund operators are taking the corporate governance movement over just in time from the theoretical economists and impotent do-gooders who have been mostly preaching-- rather than acting-- all these many decades.

Two Sides Spar Ahead Of Hess Corp Annual Meeting

Mon, 13 May 2013 16:18:29 -0400

What a great time to be a shareholder in Hess Corp. The company's annual meeting is coming up on Thursday in Houston, and shareholders are getting love letters from both sides of the season's best proxy war, with the back-and-forth heating up on Monday afternoon.

Hess Throws Activists A Bone With Chairman-CEO Split Before Meeting, But Elliott Isn't Biting

Fri, 10 May 2013 11:19:05 -0400

Oil company Hess made a modest concession to the activist investors staging a proxy fight Friday, but hedge fund Elliott Management says the move is an empty gesture.

The U.S. Is Insolvent Due To Debt And Social Security Entitlements, And QE Is Making It Worse: Billionaire Singer At Ira Sohn

Wed, 08 May 2013 13:11:45 -0400

Billionaire hedge fund manager Paul Singer warned that rich countries are insolvent, with U.S. debt to GDP levels actually around 500% given the cost of entitlements. The head of Elliott Management warned of the massive levels of leverage at major global banks, and at the perils of quantitative easing which is masked money printing, telling investors to be weary of holding U.S., European, or Japanese bonds.

How Hess Lost $800 Million In The Eagle Ford Shale - And Other Reasons Shareholders Should Vote For Change

Fri, 26 Apr 2013 09:47:16 -0400

There's less than three weeks to go before the May 16 proxy fight showdown at the annual meeting of Hess Corp. In one corner will be Elliott Management and Relational Investors, activist hedge fund investors that have accumulated 7.2% of Hess shares and want to shake up Hess's entrenched, crony-filled board with their own slate of new nominees. In the other corner, of course, is John Hess, who controls about 10% of Hess shares through family trusts, and who desperately wants to hang on to complete control of this complicated company. There's five board members up for election at the Hess annual meeting, out of a total of 14 seats. So even if Elliott, which is run by billionaire Paul Singer, were to get all of its people on the board, Hess would still nominally control the show. The effect, however, would be like seating a handful of hungry dobermans in a roomful of pliant poodles.

Which Corporations Pay The Highest Taxes?

Fri, 26 Apr 2013 09:47:16 -0400

ConocoPhillips Spending More Than $1 Billion On U.S. And Colombian Shale Plays

Thu, 25 Apr 2013 11:41:12 -0400

Spending big on North American shale plays, ConocoPhillips posted first quarter earnings before the bell on Thursday. Hitting profit estimates, Conoco is still in transition mode after having spun off its refining and marketing business through Phillips 66. Conoco reaffirmed its production guidance and announced two big discoveries in the Gulf of Mexico, along with its intention to start drilling in a shale field in Colombia in the second quarter.

Energy Sector Snapshot Presents a Great Picture

Fri, 19 Apr 2013 07:11:13 -0400

Energy stocks took a bit of a beating on Thursday, but the refinery sector still looks strong. Here is one company to buy on that strength.

Energy Sector Snapshot Presents a Great Picture

Fri, 19 Apr 2013 07:11:13 -0400

Hedge Fund Keeps Hammering Hess After Lackluster Russian Sale

Thu, 11 Apr 2013 11:54:32 -0400

Embattled oil company Hess Corp. appears to have left money on the table in its deal, announced last week, to sell its scandal-tainted Russian subsidiary to Lukoil for $2.05 billion.

Hess Sells Mob-Tainted Russian Assets As Hedge Fund Billionaire Paul Singer Lurks In The Background

Mon, 01 Apr 2013 14:36:28 -0400

Hess announced on Monday it is selling its Russian subsidiary Samara-Nafta to Lukoil, expecting to pocket $1.8 billion from the transaction. The sale is at the center of several interesting narratives including hedge fund billionaire Paul Singer's activism in an attempt to break up the company, and implications of Hess being complicit with Russian mob organization Indeitsy, a story broken by Forbes last year.

Don’t Be Fooled by Meaningless Insider Buys

Tue, 19 Mar 2013 04:50:54 -0400

Insider buying can be a great sign that a company has solid prospects. Still, not all activity is significant. Here's how to sort through it.

Don’t Be Fooled by Meaningless Insider Buys

Tue, 19 Mar 2013 04:50:54 -0400

Rising Gas Prices Fuel Inflation As Headline CPI Hits Highest Level In More Than Three Years

Fri, 15 Mar 2013 12:10:17 -0400

Rising fuel prices pushed inflation up in February, with the consumer price index (CPI) gaining 0.7%, its largest monthly gain in nearly four years. Sustained higher prices at the pump will act as a drag on GDP by obstructing consumption, yet inflation remains at comfortable levels for the Fed, which is expected to continue with its ultra-accommodative monetary stance.

Finding High-Probability Entry Levels

Sun, 10 Mar 2013 14:59:15 -0400

The key to making consistent profits in the markets is to enter trades where there is relatively low risk compared to much higher reward, thus MoneyShow’s Tom Aspray shows how you can spot good entry levels, set profit targets, and devise an exit strategy.

Hess the Latest Target of Increasingly Energy-Focused Activist Investors

Tue, 05 Mar 2013 05:22:49 -0500

Shareholder activism is booming in the energy sector -- just ask once-integrated energy firm Hess. Plus, the trend could mean solid returns for investors.

Hess the Latest Target of Increasingly Energy-Focused Activist Investors

Tue, 05 Mar 2013 05:22:49 -0500

The Sequestration-and $5 a Gallon Gasoline is a Downer for the Economy

Wed, 20 Feb 2013 08:22:24 -0500

There are not many happy about the coming March 1 automatic cuts in the budget. The exaggerated clamor has raised the specter of damaging our national defense, reducing free education for young children, the reduction of air safety officers and food inspectors, and other services we've grown accustomed to from Uncle Sam. But, where it cuts to the quick is the possible reduction in spending and therefore GDP of up to 0.5% this year, with the expectation of another 0.5% each year for the 9 years following. The positive payoff is the reduction of the federal budget deficit by 5% a year. This is called beng between a rock and a hard place. Add that cut to the renewed charge of a 2% payroll tax on individuals earning up to $114,000 a year-- and you reduce GDP by another 0.6% according to estimates I've seen. That adds up to a combined drag on economic activity of possibly 1.1% at a time where the nation's economy is growing modestly at a rate of 1.7% to 2.00%. When you subtract 1.1% from 2 % you get growth at best of 0.9%-- definitely not enough to drive the unemployment rate down to the 6.5% level. Then, you factor in what is definitely a worrisome depressant to economic growth-- the rise in the cost of a gallon of gasoline to $5.00 a gallon in some parts of the U.S.-- has cut into consumer spending and usually a warning sign of a slowdown to come. In past cycles, when gasoline a gallon rose to $5.00 it usually signaled the sputtering of a recover. Or, motorists stopped driving quite as much, using less gasoline-- as took place during the summer of 2008, when crude oil hit a peak of $147 a barrel. George Soros went short crude oil at $138 and long gold at $900 an ounce, a quite spectacular trade. And, then we had the financial crisis, the recession, the market meltdown. It's a dangerous time for President Obama and for investors, who have enjoyed the rise back to very nearly the historic peak for the Dow of 14,100.

22 Oil and Gas Stocks to Sell Now

Fri, 15 Feb 2013 11:00:42 -0500

The overall ratings of 22 Oil and Gas stocks are down on Portfolio Grader this week. Each of these rates a "D" ("sell") or "F" overall ("strong sell").

22 Oil and Gas Stocks to Sell Now

Fri, 15 Feb 2013 11:00:42 -0500

Exxon, Chevron And Why The Future Of Big Oil Should Include Refining And Chemicals

Fri, 01 Feb 2013 12:29:32 -0500

It seems like Big Oil can weather most economic storms. In a difficult fourth quarter, with flat oil prices and a shale boom in the U.S. keeping natural gas in place, with the world’s largest economy contracting and China slowing, Exxon Mobil and Chevron handily beat profit expectations, despite mediocre revenue numbers and decent production figures. With mixed upstream results, both U.S. oil behemoths derived downstream strength from previously troubling refining margins coupled with asset sales; and, as has been the case for some time, chemicals continue to deliver.

Hedge Fund Elliott Management Is Backing Stan Lee Media's Spider-Man Lawsuit Against Disney

Fri, 01 Feb 2013 09:30:41 -0500

For the last few years Michael Wolk has quietly worked to advance the multi-billion dollar copyright infringement lawsuit that claims Walt Disney Co. does not own the rights to iconic Stan Lee-created superhero characters it acquired from Marvel Entertainment, like Spider-Man, X-Men, The Incredible Hulk and The Fantastic Four. Before Wolk got involved, the minority shareholders of a company Lee founded in the 1990s had for a long time unsuccessfully litigated over these characters, but Wolk has not been dissuaded.

Don’t Miss the Value Being Unlocked at Hess

Wed, 30 Jan 2013 04:54:46 -0500

Energy firm Hess is looking to sell some of its assets, while activist hedge fund Elliott Management is pushing for a spin-off. Either path looks promising.

Don’t Miss the Value Being Unlocked at Hess

Wed, 30 Jan 2013 04:54:46 -0500

12 Intraday Movers and Shakers

Tue, 29 Jan 2013 08:42:04 -0500

Hess Selling Downstream Assets To Focus On Shale As Billionaire Paul Singer Looks To Shake Things Up

Mon, 28 Jan 2013 12:42:32 -0500

Hess has become the latest large-cap oil company to announce plans to shed its refining and downstream business to focus on high-margin exploration and production. At the same time, Hess will face the activism of billionaire Paul Singer of hedge fund Elliott Management , who told the company he’s looking to load up on potentially more than $800 million in shares and will seek board representation. Shares in the company surged on Monday.

Markets’ Euphoria Put on Pause — Monday’s IP Market Recap

Mon, 28 Jan 2013 12:18:02 -0500

Markets’ Euphoria Put on Pause — Monday’s IP Market Recap

Mon, 28 Jan 2013 12:18:02 -0500

The Dow and the S&P 500 take a break from their recent sprints Monday while Apple and the Nasdaq get a small respite. Yahoo was headed higher after the bell.

Hess Plans to Exit Refining Business, Sell U.S. Terminals

Mon, 28 Jan 2013 09:39:56 -0500

Hess Plans to Exit Refining Business, Sell U.S. Terminals

Mon, 28 Jan 2013 09:39:56 -0500

Hess announced that it will sell its U.S. terminals and New Jersey refinery, sending its shares surging in Monday trading.

11 Intraday Movers and Shakers

Mon, 28 Jan 2013 08:37:34 -0500

Trouble in China for U.S. LNG Exports?

Tue, 16 Oct 2012 08:00:51 -0400

U.S. firms may find that China is meeting its ravenous demand from other, cheaper sources -- like via overland pipelines from Turkmenistan.

Trouble in China for U.S. LNG Exports?

Tue, 16 Oct 2012 04:00:51 -0400

Three Big E&P Buys Outside the Majors

Mon, 17 Sep 2012 09:00:18 -0400

These three exploration & production players may not be the biggest ones out there, but they still look poised to bring in some big returns for investors.

Three Big E&P Buys Outside the Majors

Mon, 17 Sep 2012 09:00:18 -0400

For Europe, Shale Gas Is No Panacea

Fri, 06 Jul 2012 12:48:55 -0400

It has plenty of reserves. Getting them out is the hard part, especially considering the widespread environmental and political opposition to fracking.

For Europe, Shale Gas Is No Panacea

Fri, 06 Jul 2012 12:48:55 -0400

East Coast Drivers Catch a Big Break

Mon, 02 Jul 2012 15:31:22 -0400

A last-minute deal between Sunoco and Carlyle will keep the region's biggest refinery open. And Carlyle says it'll make major upgrades so it can use cheaper WTI.

East Coast Drivers Catch a Big Break

Mon, 02 Jul 2012 15:31:22 -0400

The 9 Most Interesting Charts in Energy

Mon, 14 May 2012 07:00:07 -0400

Energy might be the worst-performing sector in the market this year, but it's also home to nine interesting charts that might provide trading opportunities.

The 9 Most Interesting Charts in Energy

Mon, 14 May 2012 07:00:07 -0400

Sunoco’s Buyout Could Boost Pump Prices

Wed, 02 May 2012 06:00:10 -0400

The deal accelerates a trend that could hit the East Coast especially hard.

Sunoco’s Buyout Could Boost Pump Prices

Wed, 02 May 2012 06:00:10 -0400