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>SLB and Halliburton entered 2026 with solid Q4 momentum and improving international fundamentals, but sharply different market reactions highlighted how expectations and positioning shaped post-earnings performance.</li>
<li>The Venezuela catalyst drove outsized gains in oilfield services as first-cycle beneficiaries. However, estimates suggest the total revenue impact may be smaller than market enthusiasm implies.</li>
<li>Analysts raised targets for both firms, but rating trends diverged: SLB retained universal Buy support, while Halliburton faced growing caution tied to North America exposure.</li>
</ul>


SLB and Halliburton entered 2026 with solid Q4 momentum and improving international fundamentals, but sharply different market reactions highlighted how expectations and positioning shaped post-earnings performance.
The Venezuela catalyst drove outsized gains in oilfield services as first-cycle beneficiaries. However, estimates suggest the total revenue impact may be smaller than market enthusiasm implies.
Analysts raised targets for both firms, but rating trends diverged: SLB retained universal Buy support, while Halliburton faced growing caution tied to North America exposure.


SLB and Halliburton: Robust Earnings and the Limits of Market Expectations

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>UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.</li>
<li>The company registered a profit before tax of $2.7 billion, marking a 30% increase year over year.</li>
<li>This was driven by a solid revenue growth of 4% and a decrease in operating expenses of 3% to $8.7 billion.</li>
</ul>


UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.
The company registered a profit before tax of $2.7 billion, marking a 30% increase year over year.
This was driven by a solid revenue growth of 4% and a decrease in operating expenses of 3% to $8.7 billion.


UBS Group AG: Restructuring of Noncore & Legacy Operations to Up Their Game!

<ul>
<li>Chevron’s Q2 2025 revenue is expected to drop 8% QoQ and 14.5% YoY. Its EPS is projected to drop 21.6% QoQ and 32.9% YoY.</li>
<li>Chevron’s Q2 earnings are expected to fall to their lowest level since 2021, primarily due to weak crude oil and natural gas prices.</li>
<li>Bearish sentiment dominates options positioning, with elevated put-call ratios and heavy put open interest near key support levels.</li>
</ul>


Chevron’s Q2 2025 revenue is expected to drop 8% QoQ and 14.5% YoY. Its EPS is projected to drop 21.6% QoQ and 32.9% YoY.
Chevron’s Q2 earnings are expected to fall to their lowest level since 2021, primarily due to weak crude oil and natural gas prices.
Bearish sentiment dominates options positioning, with elevated put-call ratios and heavy put open interest near key support levels.


[Earnings Preview] Chevron Faces the Heat as Earnings Projected to Slide and Traders Turn Defensive

<ul>
<li>UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor sentiment and significant volatility.</li>
<li>The company's diversified global franchise and disciplined cost management strategies have played a crucial role in navigating these challenging conditions.</li>
<li>UBS achieved a net profit of $1.7 billion and an underlying return on common equity tier 1 (CET1) capital of 11.3%, driven by positive operating leverage in its core divisions.</li>
</ul>


UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor sentiment and significant volatility.
The company's diversified global franchise and disciplined cost management strategies have played a crucial role in navigating these challenging conditions.
UBS achieved a net profit of $1.7 billion and an underlying return on common equity tier 1 (CET1) capital of 11.3%, driven by positive operating leverage in its core divisions.


UBS: Powering Ahead with 72% Investment Bank Profit Spike & Asset Efficiency Play!

<ul>
<li>UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of Credit Suisse.</li>
<li>The company posted a net profit of $1.4 billion, with underlying profit before tax (PBT) reaching $2.4 billion.</li>
<li>These results illustrate a 9% year-on-year increase in underlying revenues, highlighting the robustness of UBS's diversified business model and global scale.</li>
</ul>


UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of Credit Suisse.
The company posted a net profit of $1.4 billion, with underlying profit before tax (PBT) reaching $2.4 billion.
These results illustrate a 9% year-on-year increase in underlying revenues, highlighting the robustness of UBS's diversified business model and global scale.


UBS Group: Leveraging Technological Integration For A Competitive Edge!

Switzerland

UBS Group AG provides financial services to private, corporate, and institutional clients. The Company offers investment, retail, and corporate and institutional banking, as well as holistic wealth management planning and asset management services. UBS Group also offers securities services such as fund administration and third-party fund management.

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UBS Group (UBS US)

SLB and Halliburton: Robust Earnings and the Limits of Market Expectations

SLB and Halliburton start 2026 strong, but market reactions differ due to expectations and positioning. Venezuela catalyst boosts oilfield...

Mint Finance

UBS Group AG: Restructuring of Noncore & Legacy Operations to Up Their Game!

UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.

Baptista Research

[Earnings Preview] Chevron Faces the Heat as Earnings Projected to Slide and Traders Turn Defensive

Chevron's Q2 earnings to hit lowest level since 2021, with revenue and EPS projected to drop significantly due to weak oil and gas prices. Bearish...

Mint Finance

UBS: Powering Ahead with 72% Investment Bank Profit Spike & Asset Efficiency Play!

UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor...

Baptista Research

UBS Group: Leveraging Technological Integration For A Competitive Edge!

UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SLB and Halliburton: Robust Earnings and the Limits of Market Expectations

​SLB and Halliburton start 2026 strong, but market reactions differ due to expectations and positioning. Venezuela catalyst boosts oilfield...

Mint Finance

UBS Group AG: Restructuring of Noncore & Legacy Operations to Up Their Game!

UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.

Baptista Research

[Earnings Preview] Chevron Faces the Heat as Earnings Projected to Slide and Traders Turn Defensive

​Chevron's Q2 earnings to hit lowest level since 2021, with revenue and EPS projected to drop significantly due to weak oil and gas prices. Bearish...

Mint Finance

UBS: Powering Ahead with 72% Investment Bank Profit Spike & Asset Efficiency Play!

UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor...

Baptista Research

UBS Group: Leveraging Technological Integration For A Competitive Edge!

UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of...

Baptista Research

SLB and Halliburton start 2026 strong, but market reactions differ due to expectations and positioning. Venezuela catalyst boosts oilfield...

Chevron's Q2 earnings to hit lowest level since 2021, with revenue and EPS projected to drop significantly due to weak oil and gas prices. Bearish...