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Crude oil prices were broadly lower over the shortened trading week that just passed. While prices did increase in a late day rally on Tuesday, Wednesday erased all of those meager gains with a rapid fall in prices that occurred around midday. Prices slowly continued lower from there. This decline lasted into Thursday which saw two corrections that resulted in additional price decreases. Prices were more or less flat for the remainder of the week following the second correction, though. Friday even saw a late day that slightly pushed the daily return positive on that day.

We saw completely different action in the broader market, measured by the S&P 500 index. That index was also lower over the week but it was quite volatile. Tuesday saw the index slowly climb upward. This was followed by a slow decline and then a rapid correction on Wednesday. The index continued lower into Thursday, which then flattened out. Friday saw the index turn upward again but it was not enough to erase the losses from earlier in the week. As usual, this market action had different effects on the six foreign integrated oil and gas stocks that are tracked in this update series.

Statoil (NYSE:STO) opened at $25.93 on February 19, 2013. The stock closed at $25.35 in after hours trading on February 22, 2013. Stockholders in the company thus saw the value of their holdings decrease by $0.58 per ADR share or 2.24% over the week. Statoil opened at $26.24 on January 28, 2013. This gives the stock a trailing four-week loss of $0.89 per share or 3.39%. Statoil recently unveiled an ambitious $14.5 - $16.3 billion project to develop the resources in the Barents Sea. If the Barents Sea is, in fact, as rich as the company expects then this could prove to be a very good investment as the pipelines and oil terminal are being designed to cope with more oil than what the company has currently discovered in the region.

STO 5-Day Chart

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Source: Fidelity Investments

STO 4-Week Chart

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Source: Fidelity Investments

BP plc (NYSE:BP) opened the week at $41.43. The stock closed at $41.70 in after hours trading on February 22. BP's stockholders thus saw the value of their holdings increase by $0.27 or 0.65% over the week. BP opened at $44.22 on January 28, 2013. Thus, shareholders of BP stock saw the value of their holdings decrease by $2.52 per share or 5.70% over the trailing four-week period. BP went ex-dividend on Wednesday, February 13. Shareholders as of the market close on the previous day will receive a dividend payment of $0.54 per share. This dividend effectively decreases the trailing four-week loss to $1.98 or 4.48%. BP has already made significant progress in its legal struggles due to the Macondo spill in 2010, but its troubles are far from over. An upcoming civil trial could result in the company being liable for up to $17 billion. The company does not have $17 billion in cash, so it will need to increase its cash holdings through retaining free cash flow and selling assets as a precaution. This will likely prove to be a drag on the stock going forward.

BP 5-Day Chart

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Source: Fidelity Investments

BP 4-Week Chart

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Source: Fidelity Investments

Total S.A. (NYSE:TOT) opened on February 19 at $51.12 per share. The stock closed at $50.28 in after hours trading on February 22. This gives the stock a trailing five-day loss of $0.84 per share or 1.64% for the week. Total opened on January 28, 2013 at $53.48. Thus, stockholders have seen the value of their holdings decrease by $3.20 per share or 5.98% over the past four weeks.

TOT 5-Day Chart

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Source: Fidelity Investments

TOT 4-Week Chart

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Source: Fidelity Investments

Suncor (NYSE:SU) opened on February 19 at $31.60. The stock closed at $31.09 in after hours trading on February 22. This gives the stock a loss of $0.51 per share or 1.61% for the week. The stock opened on January 28, 2013 at $34.25. Thus, Suncor stock has seen a trailing four-week loss of $3.16 per share or 9.22%. Forbes declared Suncor to be oversold based on technical indications on Thursday. While the stock has risen since then, I still believe that it is fundamentally undervalued.

SU 5-Day Chart

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Source: Fidelity Investments

SU 4-Week Chart

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Source: Fidelity Investments

Royal Dutch Shell (NYSE:RDS.A) opened at $66.38 on February 19, 2013. The stock closed at $65.73 in after hours trading on Friday, February 22. Shareholders thus saw the value of their holdings decrease by $0.65 per share or 0.98% for the week. The stock opened at $71.65 on January 28, 2013. Shareholders thus saw the value of their holdings decrease by $5.92 per share or 8.26% over the trailing four-week period. Royal Dutch Shell went ex-dividend on Wednesday, February 13. Shareholders as of the market close on the previous day will receive a dividend payment of $0.86 per share. This dividend effectively reduces the trailing four-week loss to $5.06 or 7.06%. Shell suffered another setback in its ambitious exploration program off of the coast of Alaska as it has had to tow its two drillships to port in order to perform major repairs. Due to the time needed to perform these repairs, it may not be able to resume its planned explorations next summer. This setback may also provide ammunition for opponents of the drilling program. The Coast Guard reported that one of these rigs, Noble's (NYSE:NE) Noble Discoverer, has sixteen violations that will need to be corrected. Depending on the terms of the contract, Shell may be responsible for the costs of these repairs.

RDS.A 5-Day Chart

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Source: Fidelity Investments

RDS.A 4-Week Chart

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Source: Fidelity Investments

Eni (NYSE:E) opened at $47.60 on February 19. The stock closed at $46.39 in after hours trading on Friday, February 22. Shareholders thus saw the value of their holdings decrease by $1.21 per share or 2.54% for the week. The stock opened at $52.00 on January 28, 2013. Shareholders thus saw the value of their holdings decrease by $5.61 per share or 10.79% over the trailing four-week period. Eni announced fourth quarter earnings earlier this week that beat analyst consensus earnings. Despite this, the company saw its earnings decrease from the prior year quarter, primarily due to a higher tax rate. Overall, Eni's earnings were fairly good and the company remains a strong pick, particularly for investors that believe in the Asian natural gas story.

E 5-Day Chart

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Source: Fidelity Investments

E 4-Week Chart

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Source: Fidelity Investments

This proved to be a brutal week for investors in these six companies. BP was the only company that saw its share price increase over the past week and even that was only by 0.65%. BP was, therefore, the best performer over the trailing five-day period. The worst performer was Eni, although Statoil did not do much better. Statoil was the best performing company over the trailing four-week period, however. Eni was the worst performer over that period with Suncor in a very close second.

Source: Weekly Performance Update On 6 Foreign Integrated Oil And Gas Stocks