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>Chevron’s Q2 revenue is set to dip 0.6% YoY, with EPS projected to drop 4.5% YoY on the back of lower refinery margins and natural gas prices.</li>
<li>Higher Brent crude prices and strong production may help Chevron partially offset Q2's challenges.</li>
<li>Unplanned downtime at two Australian LNG plants during Q2 raises concerns about a drop in production.</li>
</ul>


Chevron’s Q2 revenue is set to dip 0.6% YoY, with EPS projected to drop 4.5% YoY on the back of lower refinery margins and natural gas prices.
Higher Brent crude prices and strong production may help Chevron partially offset Q2's challenges.
Unplanned downtime at two Australian LNG plants during Q2 raises concerns about a drop in production.


[Earnings Preview] Weak Refining Margins and Gas Prices Dampen Chevron’s Q2 Earnings Outlook

Commodities

<ul>
<li>US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.</li>
<li>As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.</li>
<li>UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.</li>
</ul>


US crude oil inventories fell by 4.9 million barrels in the week ending 12/Jul, marking the third consecutive weekly decline.
As of 12/Jul, US natural gas inventories were up 8.4% YoY and 16.9% above the 5-year seasonal average.
UBS expects Chevron's Q2 earnings to fall short of expectations due to LNG project downtime and lower international refining margins.


[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

<ul>
<li>An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.</li>
<li>Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.</li>
<li>Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.</li>
</ul>


An unexpected increase in US crude oil and gasoline inventories pushed oil prices down but the ongoing conflicts capped the downside.
Growing natural gas output dampens Henry Hub’s uptrend. Europe will ban transshipments of Russian LNG in its ports from March 2025.
Chevron's Wheatstone LNG facility in Australia resumed full production. Wells Fargo lowered its target price on Shell but raised it on Occidental.


[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

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

AngloGold Ashanti Spon Adr / Technical Analysis

<ul>
<li>We continue to see more global indexes/Sectors breaking out to new highs, with the latest being the MSCI Emerging Markets index (local currency), breaking out from a 2-year base--add exposure.</li>
<li>In terms of MSCI EM specifically, this is a huge risk-on signal for global equities, as EM is pretty much as risky as it gets across the global landscape.</li>
<li>Our bullish outlook (since early November 2023) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.</li>
</ul>


We continue to see more global indexes/Sectors breaking out to new highs, with the latest being the MSCI Emerging Markets index (local currency), breaking out from a 2-year base--add exposure.
In terms of MSCI EM specifically, this is a huge risk-on signal for global equities, as EM is pretty much as risky as it gets across the global landscape.
Our bullish outlook (since early November 2023) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.


MSCI Emerging Markets Finally Join the Rally; China/HK Improve; Upgrading Taiwan, Downgrading Brazil

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 managed to exceed the revenue and earnings expectations of Wall Street.</li>
<li>The total pretax profit after these adjustments was $1.1 billion, of which $2 billion came from the UBS subgroup and a loss of $0.8 billion from the Credit Suisse subgroup.</li>
<li>Furthermore, UBS Group's financing division kept up its great performance, reporting its best second quarter and best first half ever.</li>
</ul>


UBS Group AG managed to exceed the revenue and earnings expectations of Wall Street.
The total pretax profit after these adjustments was $1.1 billion, of which $2 billion came from the UBS subgroup and a loss of $0.8 billion from the Credit Suisse subgroup.
Furthermore, UBS Group's financing division kept up its great performance, reporting its best second quarter and best first half ever.


UBS Group AG: Will The Strategic Alliance With Numarics Provide A Competitive Edge? - Major Drivers

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 (UBSG SW)

[Earnings Preview] Weak Refining Margins and Gas Prices Dampen Chevron’s Q2 Earnings Outlook

Chevron’s Q2 revenue and EPS expected to drop 0.6% and 4.5% YoY due to lower refining margins and natural gas prices, but its low-cost production...

Mint Finance

[ETP 29/2024] Oil Rebounds on Inventory Drop; Energy Majors' Targets Cut

US crude inventories fell for the third straight week, while gasoline and distillate stocks exceeded expectations. US & European gas storage above...

Mint Finance

[ETP 26/2024] Oil Prices Drop on Surprise Inventory Build; Oil Majors Slide but Retain Gains

Inventory build-up in the US points to signs of weaker-than-expected summer demand, Nat-gas prices hit by rising output. Uptrend in oil & gas...

Mint Finance

MSCI Emerging Markets Finally Join the Rally; China/HK Improve; Upgrading Taiwan, Downgrading Brazil

MSCI EM Finally Joins the Rally; China/Hong Kong Continue to Improve; Downgrading Brazil to Market Weight; Upgrading Taiwan to Overweight;...

Vermilion Research

UBS Group AG: Will The Strategic Alliance With Numarics Provide A Competitive Edge? - Major Drivers

UBS Group AG managed to exceed the revenue and earnings expectations of Wall Street. The total pretax profit after these adjustments was $1.1...

Baptista Research

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