Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>TotalEnergies' robust hydrocarbon production in Q2 2024 will be offset by lower gas realizations and refining margins.</li>
<li>Higher utilisation rates are expected to partially mitigate reduced refining margins in Europe and the Middle East.</li>
<li>Seasonal factors are expected to lower the Integrated Power segment's adjusted net operating income by 18.2% QoQ to USD 500 million.</li>
</ul>


TotalEnergies' robust hydrocarbon production in Q2 2024 will be offset by lower gas realizations and refining margins.
Higher utilisation rates are expected to partially mitigate reduced refining margins in Europe and the Middle East.
Seasonal factors are expected to lower the Integrated Power segment's adjusted net operating income by 18.2% QoQ to USD 500 million.


TotalEnergies Hits Roadblock with Lower Gas Prices and Refining Margins

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.

<ul><li>TotalEnergies, in its Q1 2024, demonstrated firm progress in implementing its two-pillar strategy.</li><li>First, oil and gas production, most notably in Liquid Natural Gas (LNG), aims to responsibly address rising demand through ongoing development.</li><li>Second, investments in integrated power for the future hold the promise of achieving net cash positive status by 2028.</li></ul>

TotalEnergies, in its Q1 2024, demonstrated firm progress in implementing its two-pillar strategy.First, oil and gas production, most notably in Liquid Natural Gas (LNG), aims to responsibly address rising demand through ongoing development.Second, investments in integrated power for the future hold the promise of achieving net cash positive status by 2028.

TotalEnergies SE: Can They Capitalize On The LNG Market Opportunities in Asia & The US? - Major Drivers

Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

<ul>
<li>Dic Corp is a chemical company with a top global market share in products such as printing ink, organic pigments, and PPS compounds.</li>
<li>DIC recorded FY12/23 sales of JPY1,038.7bn, operating profit of JPY17.9bn, recurring profit of JPY9.2bn, and net loss attributable to owners of the parent of JPY39.9bn.</li>
<li>On February 13, 2024, DIC Corporation announced revisions to its long-term management targets in DIC Vision 2030.</li>
</ul>


Dic Corp is a chemical company with a top global market share in products such as printing ink, organic pigments, and PPS compounds.
DIC recorded FY12/23 sales of JPY1,038.7bn, operating profit of JPY17.9bn, recurring profit of JPY9.2bn, and net loss attributable to owners of the parent of JPY39.9bn.
On February 13, 2024, DIC Corporation announced revisions to its long-term management targets in DIC Vision 2030.


<ul><li>TotalEnergies's latest earnings indicates a strong balance.</li><li>By executing their two-pillar strategy consistently, the firm has demonstrated a significant increase in cash flows compared to the previous year, offering a capacity for growth in energy production.</li><li>TotalEnergies recorded an adjusted net income shareholder share of $23 billion and an IFRS net income above $21 billion in 2023.</li></ul>

TotalEnergies's latest earnings indicates a strong balance.By executing their two-pillar strategy consistently, the firm has demonstrated a significant increase in cash flows compared to the previous year, offering a capacity for growth in energy production.TotalEnergies recorded an adjusted net income shareholder share of $23 billion and an IFRS net income above $21 billion in 2023.

TotalEnergies SE: Securing Drilling Costs Through Innovative Solutions! - Major Drivers

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/orica-ltd" target="_blank" data-smartkarma-citation="entities:895:1" rel="noopener">Orica Ltd (ORI AU)</a> is looking to raise up to A$400m (US$260m) in its primary placement. The proceeds will be used to partially fund the acquisition of Cyanco. </li>
<li>The deal is a large one to digest, representing 21.3 days of three month ADV and 5.2% dilution. </li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



Orica Ltd (ORI AU) is looking to raise up to A$400m (US$260m) in its primary placement. The proceeds will be used to partially fund the acquisition of Cyanco. 
The deal is a large one to digest, representing 21.3 days of three month ADV and 5.2% dilution. 
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


Orica Placement - Keeping the Acquisition Momentum Going

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

TotalEnergies Hits Roadblock with Lower Gas Prices and Refining Margins

Lower gas realisations and refining margins to eat up gains from healthy hydrocarbon production in Q2. Revenue expected to rise YoY and QoQ, but...

Mint Finance

TotalEnergies SE: Can They Capitalize On The LNG Market Opportunities in Asia & The US? - Major Drivers

TotalEnergies, in its Q1 2024, demonstrated firm progress in implementing its two-pillar strategy. First, oil and gas production, most notably in...

Baptista Research

DIC (4631): Full-Year FY12/23 Update

DIC Corp, a chemical company with top global market share, announced revisions to its long-term management targets in DIC Vision 2030 after...

Shared Research

TotalEnergies SE: Securing Drilling Costs Through Innovative Solutions! - Major Drivers

TotalEnergies's latest earnings indicates a strong balance. By executing their two-pillar strategy consistently, the firm has demonstrated a...

Baptista Research

Orica Placement - Keeping the Acquisition Momentum Going

Orica Ltd (ORI AU) is looking to raise up to A$400m (US$260m) in its primary placement. The proceeds will be used to to partially fund the...

Ethan Aw

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TotalEnergies Hits Roadblock with Lower Gas Prices and Refining Margins

Lower gas realisations and refining margins to eat up gains from healthy hydrocarbon production in Q2. Revenue expected to rise YoY and QoQ, but...

Mint Finance

TotalEnergies SE: Can They Capitalize On The LNG Market Opportunities in Asia & The US? - Major Drivers

TotalEnergies, in its Q1 2024, demonstrated firm progress in implementing its two-pillar strategy. First, oil and gas production, most notably in...

Baptista Research

DIC (4631): Full-Year FY12/23 Update

​DIC Corp, a chemical company with top global market share, announced revisions to its long-term management targets in DIC Vision 2030 after...

Shared Research

TotalEnergies SE: Securing Drilling Costs Through Innovative Solutions! - Major Drivers

TotalEnergies's latest earnings indicates a strong balance. By executing their two-pillar strategy consistently, the firm has demonstrated a...

Baptista Research

Orica Placement - Keeping the Acquisition Momentum Going

Orica Ltd (ORI AU) is looking to raise up to A$400m (US$260m) in its primary placement. The proceeds will be used to to partially fund the...

Ethan Aw

DIC Corp, a chemical company with top global market share, announced revisions to its long-term management targets in DIC Vision 2030 after...