Another red sea today? Banking will take a hit today. Recession proof stocks should weather it better. Coal price continue to drop to nearly 60% from peak mid 2022. Oil price drop inverse with us dollar index. I strongly believe will not be a contagion similar to Lehman Brothers. The big banks are now very regulated including in malaysia. However confidence is shaken and people will move to less risky financial assets like treasury bonds which short term yield is more then the long term. (inverted yield curve) . I will wait and see how the market moves and how bad the banks gets hit. Hang on tight. Infrastructure and utilities will be able to weather this better. Oil stocks and banks will take the hit . US SPR will start the stock up the inventory and expect oil price to stagnant at WTI 70s for while. If you plan to swing trade not too late.
.......i tell my losing money story but not get pity but still kena Tiu... ...... Ini call sifu....... ...... I3 readers banyak susah mah.... Like that...
I am happy to see karma sifu can buy cheap armada at 50c or 60c But, how come karma sifu looks not happy..continuing cursing.. I standby to buy cheap at 50c... Hopefully, both of us happy then
From analyst ... Bumi Armada Berhad ARMADA Share Price 7 Day 1 Year 0.63 -8.8% 50.6% Now 21% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be RM0.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 77%. For the next 3 years, revenue is forecast to decline by 1.2% per annum. Earnings is forecast to grow by 3.1% per annum over the same time period.
Oil and Gas company super rich now, should have budget to do carbon capturing and storage projects. The greenhouse gas (GHG) emissions reduction is the oil company key social responsibility.
5 does it for BAB, specially with Yinson fully booked. Petronas aims to engage up to two floaters in the near term, but is looking at options to make them commercially viable By Nishant Ugal , Russell Searancke and Amanda Battersby in New Delhi , Oslo and Singapore Leading floating production, storage and offloading vessel contractors are eyeing at least five promising floater prospects in Southeast Asia, hoping that robust oil prices could lead to faster decision-making on several offshore projects. Several market sources told Upstream that multiple FPSO projects in the region are expected to gain momentum in the coming months, with Malaysian state giant Petronas expected to lead the way with up to two potential floater requirements in the near term — Kelidang offshore Brunei Darussalam and an integrated development centred around the Limbayong and Bestari fields offshore Sabah, East Malaysia.
Search markets HOME NEWS STOCKS What banking crisis? Warren Buffett's Berkshire Hathaway spends close to $500 million on Occidental stock in 3 days Theron Mohamed Warren Buffett newspaper toss Warren Buffett. Rick Wilking/Reuters Warren Buffett doesn't seem rattled by recent bank failures and mounting fears of a market meltdown. Buffett's company invested about $467 million in Occidental this week, raising its stake to 23.1%. Berkshire Hathaway has piled more than $11 billion into the energy giant in just over 12 months. A trio of bank failures last week may be fanning fears of market meltdowns and financial crises, but that hasn't stopped Warren Buffett from buying stocks.
The elite investor's Berkshire Hathaway piled about $467 million into Occidental Petroleum over the past three days, a Securities and Exchange Commission filing revealed on Wednesday. Buffett's conglomerate scooped up 7.9 million shares of the oil-and-gas company, boosting its stake to 208 million shares or 23.1%.
Berkshire has now poured about $11.1 billion into Occidental in just over 12 months, a Markets Insider analysis shows. Buffett's interest helped propel the energy stock nearly 120% higher last year, making it the S&P 500's best performer of 2022.
The 92-year-old billionaire resumed buying Occidental shares earlier this month after a five-month hiatus. The bargain hunter is likely pouncing because the stock has tumbled 26% from its November peak of $77, to $57 as of Wednesday's close. Berkshire's position is worth $11.8 billion at that price.
Occidental's stock price has slumped 9% over the past five trading days alone, likely because Silvergate, Silicon Valley Bank, and Signature Bank have all folded in recent days, fueling concerns that other banks could follow. Buffett famously recommends investors "be greedy when others are fearful," and appears to be taking his own advice.
The Berkshire chief prizes Occidental's domestic foothold and the fact it's paying off debts, distributing dividends, and repurchasing shares, CEO Vicki Hollub has said. The spike in energy prices last year, fueled by the Russia-Ukraine war, has also inflated Occidental's profits.
Buffett and his team won approval from regulators in August to increase their Occidental ownership to 50%, signaling they're not done building their stake. They also piled around $20 billion into Chevron last year, securing a stake in the fossil-fuel giant worth $30 billion at the end of 2022. Those two bets indicate Berkshire is bullish on the energy sector.
On top of its 23.1% stake, Berkshire holds $10 billion of Occidental's preferred stock, which generates $800 million in annual dividends. Moreover, it owns warrants it can exercise to buy around 84 million additional common shares at a fixed cost of $5 billion. Berkshire received both the preferred stock and warrants in return for financing Occidental's takeover of Anadarko Petroleum in 2019.
Berkshire reported $258 million of Occidental's after-tax earnings as its own last year, as it passed 20% ownership of the company in August and started accounting for its stake under the equity method.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
KimSua
503 posts
Posted by KimSua > 2023-03-16 07:43 | Report Abuse
Another red sea today? Banking will take a hit today. Recession proof stocks should weather it better. Coal price continue to drop to nearly 60% from peak mid 2022. Oil price drop inverse with us dollar index. I strongly believe will not be a contagion similar to Lehman Brothers. The big banks are now very regulated including in malaysia. However confidence is shaken and people will move to less risky financial assets like treasury bonds which short term yield is more then the long term. (inverted yield curve) . I will wait and see how the market moves and how bad the banks gets hit. Hang on tight. Infrastructure and utilities will be able to weather this better. Oil stocks and banks will take the hit . US SPR will start the stock up the inventory and expect oil price to stagnant at WTI 70s for while. If you plan to swing trade not too late.