Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

<ul><li>Marathon Oil delivered a mixed result for the previous quarter as it failed to meet Wall Street expectations on the revenue front but managed to deliver an earnings beat.</li><li>They generated $1.3 billion in cash flow from operations and $940 million in free cash flow before working capital with a reinvestment rate of just 27%.</li><li>Despite a flat production rate, the company is expected to benefit from the bull run of oil prices.</li></ul>

Marathon Oil delivered a mixed result for the previous quarter as it failed to meet Wall Street expectations on the revenue front but managed to deliver an earnings beat.They generated $1.3 billion in cash flow from operations and $940 million in free cash flow before working capital with a reinvestment rate of just 27%.Despite a flat production rate, the company is expected to benefit from the bull run of oil prices.

Marathon Oil Corporation: Portfolio Restructuring

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>The latest bear market rally came to a close last week after the S&amp;P 500 and Nasdaq 100 (QQQ) broke below their respective flag supports at 4070 and $304. </li>
<li>Last week we noted a break of these levels would likely mean a trip back to YTD lows and downtrend channel support, which is precisely where we are now.</li>
<li>We remain bearish as long as the downtrends remain intact on the S&amp;P 500, Nasdaq 100 (QQQ), Russell 2000 (IWM), S&amp;P 600 (IJR), and Russell Micro-Caps (IWC)</li>
</ul>


The latest bear market rally came to a close last week after the S&amp;P 500 and Nasdaq 100 (QQQ) broke below their respective flag supports at 4070 and $304. 
Last week we noted a break of these levels would likely mean a trip back to YTD lows and downtrend channel support, which is precisely where we are now.
We remain bearish as long as the downtrends remain intact on the S&amp;P 500, Nasdaq 100 (QQQ), Russell 2000 (IWM), S&amp;P 600 (IJR), and Russell Micro-Caps (IWC)


US Dollar & 10-Year Treasury Yield Breaking Out; Stick With Energy, Also Buying China Education Svcs

<ul>
<li>We see the S&amp;P 500 as trading within a downtrend channel; as long as it remains within this channel, our intermediate to long-term outlook is bearish at the index level.</li>
<li>With that said, the S&amp;P 500 is currently testing support within the downtrend channel, and we are on watch for a potential bear market rally.</li>
<li>We will need to see a bullish reversal of the 1-month downtrend (currently at 4030-4050) to have confidence that a tradeable bounce is underway, with the potential for more.</li>
</ul>


We see the S&amp;P 500 as trading within a downtrend channel; as long as it remains within this channel, our intermediate to long-term outlook is bearish at the index level.
With that said, the S&amp;P 500 is currently testing support within the downtrend channel, and we are on watch for a potential bear market rally.
We will need to see a bullish reversal of the 1-month downtrend (currently at 4030-4050) to have confidence that a tradeable bounce is underway, with the potential for more.


S&P 500 Downtrend Channel Intact & Testing Support; Buy Ideas Within Energy & Biotech

Credit

<ul><li>Geopolitical tensions between Russia and Ukraine have been driving oil prices up and Marathon Oil has been a major beneficiary from the rally.</li><li>However, given the current oil price rally, Marathon Oil is expected to generate over $3 billion in free cash flow in 2022 with less than 30% reinvestment leaving plenty of room not just for debt reduction but also dividends and buybacks.</li><li>Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.</li></ul>

Geopolitical tensions between Russia and Ukraine have been driving oil prices up and Marathon Oil has been a major beneficiary from the rally.However, given the current oil price rally, Marathon Oil is expected to generate over $3 billion in free cash flow in 2022 with less than 30% reinvestment leaving plenty of room not just for debt reduction but also dividends and buybacks.Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.

Marathon Oil: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>Oil & gas companies have been on a phenomenal bull run as a result of the rally in crude oil prices.</li><li>The geopolitical tensions in Ukraine have been driving oil prices up and Marathon Oil has been a major beneficiary of the same.</li><li>The company delivered strong results in 2021 and is accelerating underlying per-share dividend payouts and buybacks.</li></ul>

Oil & gas companies have been on a phenomenal bull run as a result of the rally in crude oil prices.The geopolitical tensions in Ukraine have been driving oil prices up and Marathon Oil has been a major beneficiary of the same.The company delivered strong results in 2021 and is accelerating underlying per-share dividend payouts and buybacks.

Marathon Oil Corporation: Financial & Price Forecasts, DCF Valuation, ESG & Other Risks (03/22)

United States

Marathon Oil Corporation is an independent international energy company engaged in exploration and production, oil sands mining and integrated gas. The Company's operations are focused in North America, Africa and Europe.

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Marathon Oil (MRO US)

Marathon Oil Corporation: Portfolio Restructuring

Marathon Oil delivered a mixed result for the previous quarter as it failed to meet Wall Street expectations on the revenue front but managed to...

Baptista Research

US Dollar & 10-Year Treasury Yield Breaking Out; Stick With Energy, Also Buying China Education Svcs

US Dollar $DXY & 10-Year Treasury Yield $TNX Breaking Out; Broad Equity Market Not Likely to Bottom Until the USD and Treasury Yields Start Moving...

Vermilion Research

S&P 500 Downtrend Channel Intact & Testing Support; Buy Ideas Within Energy & Biotech

The $SPX is trading within a downtrend channel; as long as it remains within this channel, our intermediate to long-term outlook is bearish at the...

Vermilion Research

Marathon Oil: Detailed Credit Analysis & Financial Strength Evaluation Report

Geopolitical tensions between Russia and Ukraine have been driving oil prices up and Marathon Oil has been a major beneficiary from the...

Baptista Research

Marathon Oil Corporation: Financial & Price Forecasts, DCF Valuation, ESG & Other Risks (03/22)

Oil & gas companies have been on a phenomenal bull run as a result of the rally in crude oil prices. The geopolitical tensions in Ukraine have...

Baptista Research

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