| | | CVE.TO, Gazprom (GAZP.MM), HERO, PBR, PTEN, WFT,
European Refiners Bi-Monthly,
Land Drillers,
Indian Oil & Gas Upstream & Downstream,
Electric Utilities Sector Bi-Weekly,
Commodity Price Deck,
OT: SMID Cap “Rap”
OT: Top 100 Earnings & Dividends
Cenovus Energy (CVE.TO)
Alert: Grand Rapids Project Approved; Maintain Buy
21 March 2014 ¦ 7 pages ir.citi.com
Gazprom (GAZP.MM)
Alert: Gazprom annuls 2010 negotiated price break for Ukraine associated with Sevastopol port
21 March 2014 ¦ 7 pages ir.citi.com
Ukraine's nominal price is set to rise from c$269/mcm
to maybe $480/mcm, or from $7.6/mcf to $13.6/mcf.
Hercules Offshore (HERO)
There Is Never Just One Negative Datapoint
24 March 2014 sendspace.com
Petrobras (PBR)
Meeting management
24 March 2014 sendspace.com
Following the recent business plan announcement, today PBR top
management (CEO Graça Foster, CFO Almir Barbassa, E&P Director Jose
Formigli, Refining Director Jose Cosenza, and G&P Director Alcides Santoro)
held a meeting with the sell-side to further discuss the plan.
Patterson-UTI Energy (Patterson-UTI Energy (PTEN)
Lowering 1Q14 Estimate on Weather; Maintain Buy Rating
21 March 2014 ¦ 8 pages ir.citi.com
We have reduced our 1Q14 EPS estimate from $0.30 to $0.22 due to severe
weather in the Appalachian region during the quarter that reduced pressure
pumping revenues and increased costs. Our pressure pumping revenue estimate
has been reduced from $250 to $237 million in 1Q14 but remains unchanged at
$1.05 billion for full-year 2014. The work that was scheduled for 1Q14 will be
made up over the remaining three quarters of 2014. We reiterate our Buy rating
and raise our price target from $35 to $36 on our growing conviction that the
cycle in North America land is turning and that revisions to consensus earnings
forecasts going forward are likely to be in the upward direction.
Weatherford International, Inc. (WFT)
Why You Should Believe it this Time
24 March 2014 sendspace.com
European Refiners Bi-Monthly
From a Major's eye: a view on Global Refining
25 March 2014 sendspace.com
Land Drillers
Rationalization of Land Rigs - Optionality Benefits Land Rig Stocks
24 March 2014 sendspace.com
...we cannot recommend the stocks, at this point, as an investment...
...we will understand why investors have them in their portfolios, reflecting the
unrelenting optimism of energy investors...
Gee, they understand and forgive us.
Indian Oil & Gas Upstream & Downstream
High on Optimism, But Not Low on Substance
24 March 2014 ¦ 37 pages ir.citi.com
Electric Utilities Sector Bi-Weekly
Tracking Changes in Power, Spreads and Commodities
24 March 2014 ¦ 49 pages
Commodity Price Deck for Utility Equities
3-19-2014 Forward Prices for Utility Equity Modeling & Analysis
21 March 2014 ¦ 7 pages ir.citi.com
OT: SMID Cap “Rap”
Changing Relationships
21 March 2014 ¦ 18 pages ir.citi.com
The Russell 2000 led the broader indexes with a +1.9% gain during the week.
The Russell Mid Cap and S&P 500 traded in line, with +1.4% gains. Mid Cap
continues to lead YTD, with a +3.7% return, although the RUT gap has narrowed
as that index is +3.0% YTD. The SPX is +1.3% YTD. Sector performance for the
week was led by Energy, Tech and Telecom. The Utilities sector was the sole
negative performer. Financials outperformed month-to-date, although they still
lag YTD.
OT: Top 100 Earnings & Dividends
sendspace.com |
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