E Weekly Energy Roundup: Oil And Gas Companies, June 25 To 29

Source: Fidelity Investments 

As already discussed for ExxonMobil, Eni began marketing efforts for the natural gas from the extremely gas-rich Area-4 block in Mozambique. Should the marketing efforts prove fruitful, the company will then begin work on a liquefied natural gas plant to facilitate the export of this gas. As I speculated earlier this week, this has the potential to turn Eni into a major exporter of natural gas to Asia, which is likely to be the most rapidly growing market for the fuel over the coming 35 years. This is certainly a promising development for the Italian company. 

Equinor (EQNR

Norway's Equinor is often the most stable entity price-wise in these weekly reports, likely due to the Norwegian government’s substantial ownership stake in the company. However, this was not the case during the week of June 25. Equinor opened the week at $26.06, and steadily increased on every day except Thursday. As Equinor closed out the week at $26.41 per share, it delivered a gain of 1.34% to its investors on the week. 

Source: Fidelity Investments 

Equinor was surprisingly volatile over the past two weeks, showing numerous up days and down days. Despite this, Equinor's stock was almost completely flat for those that were holding it over the entire period. On June 18, 2018, Equinor opened at $26.35 and thus delivered a 0.23% gain over the two-week period. 

Source: Fidelity Investments 

Equinor had no significant news over the past week. As the company was not named in the climate change lawsuit, the dismissal of this case had no direct effect on it (although it is likely that the entire energy industry would have been affected in some way by that case). The company is trading at a very cheap ratio compared to analyst consensus earnings growth, however, so it might be worth a look for that reason.

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Disclosure: I am long XOM and CVX via ETF holdings but have no direct long positions in any stocks mentioned.

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