Oil-and-gas companies will start reporting their third-quarter earnings this week, and the outlook isn’t very rosy.
All that said, energy companies could have trouble convincing investors that they’ll remain attractive investments after their stocks’ recent strong performance and uncertainty about oil prices. “We believe investors will be more focused on macro trends and the messaging from companies on how they fit into those trends during this upcoming earnings season,” Kumar wrote.
Another trend investors will likely watch for this earnings season is M&A, to see if other oil companies will follow Exxon Mobil ‘s lead and consolidate. Exxon announced last week that it will buy Pioneer Natural Resources for about $65 billion, a deal that will make it the dominant shale-oil producer in the country by far. Analysts have speculated that more deals could be coming, as larger oil companies have technological and financial advantages over their smaller peers.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: commondreams - 🏆 530. / 51 Read more »