Below are interesting large-cap stocks on the NYSE with the highest sales growth estimate.
Citigroup Inc (NYSE: C) has a consensus sales growth estimate of 261% for Q4 and a market capitalization of $98.08 billion. Deutsche Securities initiated coverage of C with a “buy” rating.
Suncor Energy Inc (NYSE: SU) has a consensus sales growth estimate of 204.8% for Q4 and a market capitalization of $56.93 billion. Stifel Nicolaus upgraded SU from “hold” to “buy.”
Centurytel Inc (NYSE: CTL) has a consensus sales growth estimate of 186.5% for Q4 and a market capitalization of $10.33 billion. Soleil initiated CTL with a “buy” rating.
PNC Financial Services Group Inc (NYSE: PNC) has a consensus sales growth estimate of 149.3% for Q4 and a market capitalization of $25.8 billion. Wells Fargo upgraded PNC from “market perform” to “outperform.”
Wells Fargo & Company (NYSE: WFC) has a consensus sales growth estimate of 120.8% for Q4 and a market capitalization of $135.21 billion. Bernstein upgraded WFC from “market perform” to “outperform.”
BANGALORE, INDIA--November 18, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--While addressing the National Assembly of Pakistan, Naveed Qamar, the Minister for Petroleum and Natural Resources, said that three refineries with a combined capacity of 465,000 barrels per day (BBL/d) were going to be commissioned in Pakistan in the next three years.
SUGAR LAND--November 16, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--On Friday, November 13, Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) announced capital spending plans for 2010. The company plans to invest approximately US$5.24 billion, with $1.43 billion going to growth projects and the remainder going toward sustaining existing operations. The growth projects include the restart of construction on stages 3 and 4 of the company's Firebag bitumen production facility, leading Suncor President and CEO Rick George to say in a conference call, "This officially restarts the growth of oil sands."
Canada-based Suncor Energy (SU) reported weaker-than-expected third quarter results, hampered by lower commodity prices and higher operating expenses in its oil sands business, partly offset by increased production resulting from the Petro-Canada acquisition. Earnings per share, excluding certain items, came in at 23 Canadian cents (22 cents), below the Zacks Consensus Estimate of 31 cents. [...]
Canada-based Suncor Energy (SU) reported weaker-than-expected third quarter results, hampered by lower commodity prices and higher operating expenses in its oil sands business, partly offset by increased production resulting from the Petro-Canada acquisition. Earnings per share, excluding certain items, came in at 23 Canadian cents (22 cents), below the Zacks Consensus Estimate of 31 cents. In the year-ago period, Suncor earned 87 Canadian cents (83 cents). Revenues were down marginally (by 0.8%) to C$8.4 billion.
Operating Statistics
The company reported operating earnings of C$288 million, down 64.4% year over year, while cash flow from operations dropped 49.9% from the prior-year period to C$574 million.
Production
Upstream production during August and September 2009 averaged 630,600 barrels of oil equivalent per day (BOE/d). Of this, 289,400 BOE/d came from the Petro-Canada acquisition. During the third quarter, volumes from Suncor’s legacy oil sands and natural gas operations averaged 339,900 BOE/d, as against 281,000 BOE/d in the year-ago period.
Excluding proportionate production share from the Syncrude joint venture, oil sands volumes rose 24.3% year over year to 305,300 barrels per day (Bbl/d), mainly reflecting improved operational reliability and lack of unplanned maintenance shutdowns.
Post acquisition, Suncor holds a 12% share in the Syncrude oil sands joint venture (located near Suncor's existing oil sands operations in Alberta). Syncrude operations contributed an average 37,400 Bbl/d of sweet crude production for the final two months of the third quarter of 2009.
During August and September 2009, Suncor’s natural gas business produced an average 772 million cubic feet equivalent per day (MMcfe/d), of which, 563 MMcfe/d came from the acquisition. Production from the company’s legacy natural gas operations averaged 208 MMcfe/d in the third quarter of 2009, as against to 213 MMcfe/d a year ago. This decrease was on account of production shut-ins and the sale of certain non-core assets in the second quarter of 2009.
East Coast Canada production contributed an average 49,600 Bbl/d during the two month period August-September 2009, while volumes from Suncor’s international segment contributed an average 108,600 Bbl/d – both lower than capacity as a result of planned and unplanned maintenance and the tie in of the North Amethyst extension at White Rose.
Guidance
Looking ahead to the fourth quarter, Suncor guided towards international production in the range of 130,000 – 140,000 BOE/d, while East Coast Canada production is expected to be 60,000 – 65,000 Bbl/d. Natural gas volumes are anticipated to be within 760 – 775 MMcfe/d. For full-year 2009, the company now expects oil sands production of 290,000 – 305,000 Bbl/d, compared to the previous guidance of 300,000 Bbl/d.
Plans asset sale to cut acquisition-related debt
In 2010, Suncor is targeting asset sale of up to C$4 billion, including a third of its natural gas holdings, as it looks to reduce debt following the Petro-Canada acquisition. Additionally, Suncor intends to offload smaller interests in the North Sea, all of its assets in Trinidad and Tobago as well as a corporate aircraft. Read the full analyst report on "SU" Zacks Investment Research
By Matt Badiali
Analysts judge oil companies on two key statistics – reserve replacement costs and recycle ratio.
In other words, how much it costs a company to replace each barrel of oil it produces and how efficiently the company does it. Analysts treat lavish exploration budgets as a black mark.[More...]
Analysts were expecting Suncor Energy Inc. (SU) [Chart - News - Analysis] to report earnings of $0.29 for last quarter, but SU missed expectations with actual earnings of $0.23---6 cents below the consensus estimate.
If you compare last quarter's earnings to the $1.04 the company made per share during the same quarter a year ago, you can see that SU’s earnings are down this year.
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Also, if you compare SU's 7.00% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 6.99% for the Independent Oil & Gas industry as a whole during that same time frame, you can see that analysts expect SU to outperform the industry in the future---which is a good sign for the stock.
Drilling down a little deeper into the Independent Oil & Gas industry, you can see how analysts believe SU will stack up against some of the other stocks in the industry, like EnCana Corp. (ECA) [Chart - News - Analysis] and Occidental Petroleum Corporation (OXY) [Chart - News - Analysis], in the future. Analysts believe ECA's earnings are going to grow at a rate of 12.00% while OXY's earnings are going to grow at a rate of 6.67%.
Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.
Suncor Energy Inc.(NYSE: SU), Canada's largest oil company, is scheduled to report its third quarter earnings on Friday, November 6 at 12:30 a.m. MT / 2:30 a.m. ET.[More...]
Companies featured in this segment: Chevron Corporation (NYSE:CVX), Suncor Energy, Incorporated (NYSE:SU), FirstEnergy Corporation (NYSE:FE), Scottish and Southern Energy plc (OTC:SSEZY),
Companies featured in this segment: Suncor Energy Incorporated (NYSE:SU), Jacobs Engineering Group Incorporated (NYSE:JEC), Alexandria Real Estate Equities Incorporated (NYSE:ARE), Tata Motors (NYSE:TTM), Bureau Veritas SA (EPA:BVI), Areva SA, Korea Electric Power Corporation (SEO:015760), Total S.A. (NYSE:TOT), Indian Oil Corporation Limited (BSE:530965), MeadWestvaco Corporation's (NYSE:MWV), Scottish and Southern Energy plc (OTC:SSEZY), RWE AG (OTC:RWEOY), StatoilHydro ASA (NYSE:STO)
Companies featured in this segment: Jacobs Engineering Group Incorporated (NYSE:JEC), Suncor Energy Incorporated (NYSE:SU), Air Products & Chemicals Incorporated (NYSE:APD), Exxon Mobil Corporation’s (NYSE:XOM), Exxon Mobil Corporation’s (NYSE:XOM), Ocean Power Technologies Incorporated (LSE:OPT), Leighton Holdings Limited (ASX:LEI), Total S.A. (NYSE:TOT), Iberdrola S.A. (MCE:IBE)
Companies featured in this segment: E.ON (OTC:EONGY), RWE AG (OTC:RWEOY), National Grid plc (NYSE:NGG), Bharat Heavy Electricals Limited (BSE:500103), Doosan Heavy Industry and Construction Company (SEO:034020), KBR Incorporated (NYSE:KBR), Suncor Energy Incorporated (NYSE:SU)
Companies featured in this segment: Electricite de France SA (EPA:EDF), Constellation Energy Group Incorporated (NYSE:CEG), Centrica plc (OTC:CPYYY), Deutsche Bank AG (NYSE:DB), Morgan Stanley (NYSE:MS), National Grid plc (NYSE:NGG), Suncor Energy Incorporated (NYSE:SU), Husky Energy Incorporated (OTC:HUSKF), Mitsubishi Heavy Industries Limited (TYO:7011), Mitsubishi Corporation (OTC:MSBHY) (Tokyo), Kajima Corporation (TYO:1812) (Tokyo), Obayashi Corporation (TYO:1802), Sojitz Corporation (TYO:2768), Invensys plc (OTC:IVNYY), ConocoPhillips (NYSE:COP), Peabody Energy Corporation (NYSE:BTU), Tyson Foods Incorporated (NYSE:TSN)
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