中华石油化工网 www.cnpec.net——歌颂石化 服务石化 奉献石化 发展石化

國際油價飆升 三公司有望成贏家

   2021-02-22 互聯網訊

90

核心提示:???? 據2月21日The Motley Fool報道,今年以來,石油價格一路飆升,漲幅超過25%,最近已突破每桶60美元

???? 據2月21日The Motley Fool報道,今年以來,石油價格一路飆升,漲幅超過25%,最近已突破每桶60美元。今年的飆升已將原油價格推升至疫情爆發前的水平之上。與此同時,油價的上漲可能不會結束,因為在需求開始復蘇之際,歐佩克和其他產油國正嚴格控制供應。

????在這樣的背景下,如果油價持續上漲,合同鉆井公司Helmerich & Payne、油氣生產商德文能源和設備制造商卡特彼勒這三家公司的股票價格具有最大的上行潛力。

????魯本·格雷格·布魯爾(Helmerich & Payne):油價下跌時,能源服務公司會受到沖擊,因為他們的客戶會減少支出。但當價格開始上漲時,趨勢就會轉向另一個方向。這就是為什么如果油價飆升,Helmerich & Payne應該會從中受益。

????一方面,該公司擁有非常強勁的資產負債表,債務權益比僅為15%,資金流動性強,約為13億美元。換句話說,有足夠的資金來應付今天的困難時期,也有足夠的現金來抓住下一次經濟好轉時的機會。這意味著,一旦需求再次回升,就可以重新轉向增長。

????另一方面,該公司擁有一支龐大的高端鉆機隊伍。簡單地說,最好的鉆井平臺將首先恢復工作。具體來說,其234臺高端鉆機中目前只有80臺是外包的,因此還有很大的上行潛力。同樣值得注意的是,Helmerich & Payne的主要市場是美國的水力壓裂領域,與其他鉆探方法相比,水力壓裂可以相對較快地提高產量。

????因此,在需求回升之前,Helmerich & Payne有足夠的實力生存下去,這些鉆井平臺最有可能首先重新投入使用,并在一個應該能夠迅速增長的市場上運營。這聽起來像是一個成功的組合。

????德文能源公司Matt DiLallo:當油價上漲時,石油生產商為股東創造價值的記錄很糟糕。他們通常會把高油價帶來的現金流浪費在鉆探新油井或回購股票上,結果下次石油市場崩盤時,這些資金就會化為灰燼。

????然而,今年的石油市場復蘇可能會有所不同。美國石油生產商已經承諾,隨著油價上漲,他們不會增加鉆探計劃。最重要的是,石油公司開始在向股東返還現金的方式上有所創新。德文能源公司率先推出了行業領先的可變紅利計劃,該公司計劃在支付可持續基本股息和維護資本計劃后,每個季度支付50%的超額現金。

????德文的第一個可變股利是每股0.19美元(總計1.28億美元),是其基本季度股利0.11美元(4200萬美元)的兩倍多。由于德文的自由現金流隨著油價上漲而上升,這筆支付可能只是可變紅利潛力的一小部分。例如,在每桶50美元的油價下,德文今年可以產生超過10億美元的自由現金流。與此同時,以目前每桶超過60美元的油價計算,到2021年,該公司的自由現金流將接近17.5億美元。由于其中多達一半的資金將通過可變股息計劃返還給股東,德文今年可能會在油價上漲的情況下獲得一筆成功的投資。

????尼哈·查瑪利亞:當同事們謹慎地挑選出那些應該是油價上漲的主要受益者的石油和天然氣股票時,我推薦一家不屬于油氣行業但卻持有大量股份的公司——卡特彼勒公司。

????盡管卡特彼勒更出名的是其建筑和采礦設備,但鑒于該公司在該行業的風險敞口越來越大,油價對該公司的影響應該比以往任何時候都更大。2020年,能源和交通運輸業(E&T)取代建筑業,成為卡特彼勒最大的業務部門,占其總收入的近42%。不過,受石油和天然氣市場低迷的拖累,今年該行業的銷售額下降了21%。近年來,石油和天然氣一直是E&T最大的終端市場。

????卡特彼勒認為自己在能源市場上有價值,這一點在其最近一次收購中得到了進一步證明——以約3.75億美元的價格收購了Weir Group的石油和天然氣部門。油價反彈應有助于卡特彼勒從收購中釋放出更大的價值,盡管油價上漲鼓勵能源企業重啟資本支出計劃,并刺激對卡特彼勒擅長的往復式發動機等設備的需求。

????因此,油價飆升可能是E&T的一劑強心針,并對卡特彼勒未來銷售和利潤的復蘇發揮重要作用。

????王佳晶 摘譯自 The Motley Fool

????原文如下:

????Oil Is Surging: These 3 Stocks Would Be Big Winners in an Oil Boom

????Oil prices have been on fire this year, surging by more than 25% and recently topping $60 a barrel. This year's surge has pushed crude oil pricing back above its pre-pandemic levels. Meanwhile, oil's run might not be done since OPEC and other producers are keeping a tight lid on supplies at a time when demand is starting to recover.

????Given this backdrop, we asked some of our energy contributors which oil stocks they believe are best positioned to benefit if oil prices continue booming. They see some of the sector's best upside potential in contract driller Helmerich & Payne (NYSE:HP), oil and gas producer Devon Energy (NYSE:DVN), and equipment maker Caterpillar (NYSE:CAT). Here's why.

????The right tools

????Reuben Gregg Brewer (Helmerich & Payne): Energy services get roughed up when oil falls because their customers pull back on spending. But when prices start heading higher the trend goes the other direction. Which is why Helmerich & Payne should benefit if oil prices take off (even more than they have already). The company has a couple of important things going for it.

????First, it has a really strong balance sheet, with a debt-to-equity ratio of just 15%, and ample liquidity, roughly $1.3 billion. In other words, it has the financial strength to muddle through today's hard times and also the cash to take advantage of the next upturn. That means it can pivot back to growth as soon as demand picks up again.

????Which brings up point No. 2: It has a large fleet of high-end drilling rigs. Simply put, the best rigs will get put back to work first. To put a number on that, only 80 of its 234 high-end rigs are currently contracted out, leaving a lot of upside potential. It is worth noting, too, that Helmerich & Payne's primary market is the U.S. fracking sector, which can ramp up production relatively quickly compared to other drilling methods.

????So, Helmerich & Payne has the strength to survive until demand picks up, the rigs that will most likely get put back to work first, and operates in a market that should be able to ramp up quickly. That sounds like a winning combination.

????A gusher of dividends at higher crude prices

????Matt DiLallo (Devon Energy): Oil producers have a lousy track record of creating value for shareholders when oil prices are booming. They've usually wasted the cash flow generated at higher oil prices on drilling new wells or buying back their stock, only to have the next oil market bust incinerate that capital.

????However, this year's oil market recovery might be different. U.S. producers have promised not to ramp up their drilling programs as oil prices rise. On top of that, oil companies are starting to get creative in how they return cash to their shareholders. Devon Energy is leading that charge by launching an industry-first variable dividend program. The oil producer aims to pay out up to 50% of its excess cash each quarter after funding its sustainable base dividend and maintenance capital program.

????Devon's first variable dividend was a gusher at $0.19 per share ($128 million in total), more than double its base quarterly payout of $0.11 per share ($42 million). That payment is likely only a small taste of the variable dividend's potential since Devon's free cash flow rises with oil prices. For example, at $50 oil, Devon could produce more than $1 billion in free cash flow this year. Meanwhile, at the current oil price of more than $60 a barrel, Devon's free cash flow would approach $1.75 billion in 2021. With as much as half of those funds going back to shareholders via its variable dividend program, Devon could be a winning investment this year on booming oil prices.

????Neha Chamaria (Caterpillar): While my colleagues have prudently picked out oil and gas stocks that should be major beneficiaries from any rise in the price of oil, I'll deviate and recommend a company that doesn't quite belong to the sector but has significant stake in it nonetheless: Caterpillar.

????Although Caterpillar is better known for its construction and mining equipment, oil price should matter to the company more than ever now given its increasing exposure to the sector. To put a number to that, consider that energy and transportation (E&T) toppled construction industries to emerge as Caterpillar's largest segment in 2020, accounting for nearly 42% of its total revenue. Sales from the segment, though, declined 21% in the year, dragged largely by a depressed oil and gas market. Oil and gas has been the largest end market for E&T in recent years.

????That Caterpillar sees value in the energy markets is further evidenced by its latest acquisition -- that of the oil and gas division from The Weir Group for roughly $375 million. Oil's rebound should help Caterpillar unlock greater value from the acquisition even as higher prices encourage energy companies to revive their capital spending plans and spur demand for equipment like the reciprocating engines Caterpillar specializes in.

????Surging oil, therefore, could be a shot in the arm for E&T and play an important role in the revival of Caterpillar's sales and profits going forward.

 
 
更多>同類資訊
  • china
  • 沒有留下簽名~~
推薦圖文
推薦資訊
點擊排行
網站首頁  |  關于我們  |  聯系方式  |  使用說明  |  隱私政策  |  免責聲明  |  網站地圖  |   |  工信部粵ICP備05102027號

粵公網安備 44040202001354號

 
主站蜘蛛池模板: 上饶市蚂蚁搬家有限公司,上饶搬家公司,上饶同城搬家,上饶同城搬家电话,上饶搬家哪家好,上饶搬家公司电话 | 上海浩斌信息科技有限公司RFID读写器,IC卡读卡器,手持机,数据采集终端,电力仓库管理软件开发,固定资产软件,纱管标签,试剂管理,RFID试剂柜,档案管理,档案柜,智能货架 | 模温机_厂家_现货供应-卡塞尔机械(浙江)有限公司 | 郑州空调维修_郑州中央空调维修_空调清洗维保-郑州大晟机电设备安装工程有限公司 | 宿迁市华泰交通设施有限公司,上海第四代路名牌,天津仿罗马柱路名牌,标准路名牌,路名牌灯箱,公交站台,户外广告灯箱, 交通标志牌,社区阅报栏 | 树脂门|卫浴门|医院门|医院专用门|卫生间门—湖南航天康达树脂门 | 医疗器械,理化实验室设备,微生物,培养基,一站式采购 - 杭州润泽仪器商城 | 影像测量仪|检测设备定制|平面度测量仪|三坐标测量机|广州市海科思自动化设备有限公司-400-0528-668 | 圆锯机-滚牙机-滚丝轮-滚丝机-滚牙轮-切断机-东莞市溪远泰五金机械有限公司 | 徐州恒铭机械设备有限公司_装载机配件_压路机配件_起重机配件_挖掘机配件_配件_徐州恒铭机械设备有限公司 | 压痕机_自动拆标机_瑞安市晨力机械有限公司 | 石英砂|无烟煤滤料|火山岩|聚合硫酸铁|活性炭-河南碧水清源水处理材料有限公司 | 品牌服装网-服装品牌加盟招商,服装品牌排行榜,服装品牌大全 | 桶装水配送-瓶装水-净水器-厦门水之露商贸有限公司,电话:18205922444 | 上海五相仪器仪表有限公司-鼓风干燥箱-拍击式无菌均质器生产厂家 | 直流电机维修_杭州高压电机修理-杭州先恒机电有限公司 | 金相切割机-金相磨抛机-显微/维氏/布氏/洛氏硬度计-自准直仪-金相显微镜-万能材料试验机-清洁度检测仪-淋雨试验机-上海中研精密仪器制造有限公司 | 陕西筱润智能科技有限公司 干部人事智能档案柜 智能密集架 智能档案柜 部队选层文件智能柜 智能枪弹柜 财务智能档案柜 边防武警智能密集架 医院智能档案柜 部队选层文件智能柜智能枪弹柜 学校医院文件柜 企事业单位公检法智能文件柜 生产厂家-筱润智能科技有限公司 RFID射频智能密集架 全自动智能选层档案柜 智能密保柜 枪柜部队营房营具床桌椅办公家具 办公用品档案盒设备货架 全自动智能选层柜生产厂家-筱润智能科技有限公司 | 河北浩元保温材料有限公司 | 医盟网-全国首家医疗信息化行业门户网站| 上海拓展训练_上海拓展培训_上海团建活动_上海团建策划 | 水阻柜-液阻柜-高压开关柜-高压固态软启动柜-磁控软启动柜-电解粉-无功补偿柜-配电柜-襄阳源创电气 | 液态硅胶制品厂家_液态硅胶包胶加工_LSR液态硅胶模具厂_液体硅胶注射成型_广东盈泰 | 举升机,登高梯,升降平台,升降车,升降机,高空作业平台车 | 液压支架配件|液压支架立柱|液压支架千斤顶|液压支架换向阀|液压支架乳化油|液压支架密封件-山东卓力生产厂家 | 美国SI中国区总代-北京开源国创科技有限公司 | 数控钢筋弯箍机_数控钢筋弯曲中心_数控钢筋笼滚焊机厂家_山东佳信 | 双螺杆挤压膨化设备_挤压熟化设备_烘干设备_油炸设备及喷涂调味设备-山东铭本机械科技公司 | 新乡市大成数控机械有限公司 | 天象文仪办公家具,25年一站式配齐经验厂家-办公家具官网 | 讨债公司_要债公司_要账公司[18年讨债要债经验]讨账公司 | 上海钧尚电器有限公司 - Faulhaber电机 AMETEK pittman电机 AMETEK ROTRON军用航空风机 Exlar电动缸 MAE电机 MCG电机 CP电动工具 马头工具 AMCI驱动器 直流电机 减速箱 直流伺服电机,无刷电机,直线电机 直流防爆电机 防爆电机 汽车助力转向电机 EPS电机 faulhaber motor faulhaber gearbox NANOTEC电机 ELWOOD电机 PHYTRON电机 EXLAR伺服电动缸 高力矩、高性能直流电机,音圈电机,风机,直流风机,航空风机 | 品牌策划-品牌设计-济南之式传媒广告有限公司官网-提供品牌整合丨影视创意丨公关活动丨数字营销丨自媒体运营丨数字营销 | 无石棉纤维增强水泥板厂家_水泥纤维装饰板_河北埃尔佳建材科技有限公司 | 合肥发斯特精密塑模有限公司专业精密磨具,注塑模具,精密注塑机械零件(加工制造|生产|销售|厂家) 浩通集团 国际货运 物贸一体化 中非经贸 | 实验反应釜,高压反应釜,玻璃反应釜,不锈钢反应釜-烟台招远松岭化工设备有限公司 | 青州市昌达机械设备有限公司_洗石机-洗砂机-筛沙机-砂石分离机-洗轮机-制砂机 | 陕西筱润智能科技有限公司 干部人事智能档案柜 智能密集架 智能档案柜 部队选层文件智能柜 智能枪弹柜 财务智能档案柜 边防武警智能密集架 医院智能档案柜 部队选层文件智能柜智能枪弹柜 学校医院文件柜 企事业单位公检法智能文件柜 生产厂家-筱润智能科技有限公司 RFID射频智能密集架 全自动智能选层档案柜 智能密保柜 枪柜部队营房营具床桌椅办公家具 办公用品档案盒设备货架 全自动智能选层柜生产厂家-筱润智能科技有限公司 | 内蒙古慧申设计顾问有限公司-官网| 铝压铸件_铝合金压铸件_铝合金压铸件厂家-安平县长虹压铸厂 | 全网营销_网络推广外包_全网营销代运营公司-湖南微望互动 |