28
Apr

Thursday Morning – WLL, AR

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Market Sentiment Watch: In today's post please find the oil inventory review slide show (imports driven number with refinery throughput bobbling slightly (normal) as capacity rises out of the maintenance trough, finished product demand remained high, and crude production continued to edge lower (though we expect a near term acceleration lower)), comments on the WLL 1Q16 results, the AR 1Q16 report (as expected),  MRD (Nrgyman gets his wish), and some other odds and ends. 

Ecodata Watch:

  • We get jobless claims at 8:30 am EST (F = 258,000, last read was 247,000),
  • We get 1Q GDP at 8:30 am EST (F = 0.7%, last read was 1.4%). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. Oil Inventory Review 
  4. Stuff We Care About Today - WLL, AR, MRD
  5. Odds & Ends

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27
Apr

Wednesday Morning

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Market Sentiment Watch: FOMC announcement day. Expect big swings. In today's post please find the oil and natural gas inventory previews, as well as comments on the RES 1Q16 report (decent quarter considering current industry conditions, solid balance sheet, interesting), and some other odds and ends. 

Ecodata Watch:

  • We get Pending Home Sales at 10 am EST (F = 0.4%, last read was 3.5%),
  • We get the FOMC announcement at 2 pm EST (no change is expected). 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h - with oil and natural gas inventory previews
  3. Stuff We Care About Today - RES
  4. Odds & Ends

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26
Apr

Tuesday Morning – PXD

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Market Sentiment Watch: Market eyes focused on FOMC announcement tomorrow. Few expect a move then but that it may be setting the stage for a summer hike and they will looking for signs of that in the release. Expect volatility, more tomorrow than today. In today's post please find comments on PXD's 1Q16 results (strong with guidance headed high), comments on OII (weak with no guidance for the year yet provide, comments on additional REXX debt moves, and some other odds and ends. 

Ecodata Watch:

  • We get Durable Goods at 8:30 am EST (F = 2.4%, last read was -3.0%), 
  • We get Case-Shiller home prices at 9 am EST (no forecast, last read was +5.7%), 
  • We get Consumer Confidence at 10 am EST (F = 96.5, last read was 96.2).  

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watch
  3. Stuff We Care About Today – PXD, OII, REXX
  4. Odds & Ends

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25
Apr

Monday Morning – 1Q16 Reporting Season About To Get Busy

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Market Sentiment Watch: FOMC announcement week so most eyes will be focused on the language there. Yawn.  In energyland, 1Q16 earnings season heats up (see the week's calendar below) this week and becomes swamped next week. We see two possible additions to the Shopping List and one potential pruning over the next two weeks but otherwise expect outlooks to be fairly unchanged for the upstream segment over the period.  In today's post please find The Week That Was, the earnings calendar, comments on HAL from Friday's 1Q16 preview press release, and a few other odds and ends. 

Ecodata Watch:

  • We get New Home sales at 10 am EST (F = 518,000, last read was 512,000)

The Week Ahead:

  • Tuesday 4/26: Durable goods, Case-Shiller home prices, consumer confidence, 
  • Wednesday 4/27: Advanced trade in goods, pending home sales, FOMC announcement,
  • Thursday 4/28: Jobless claims, 1Q16 GDP, 
  • Friday 4/29: Personal income, consumer spending, core inflation, Chicago PMI, consumer sentiment, Oil and natural gas monthly production updated data released late. 

In Today’s Post:

  1. Holdings Watch
  2. Commodity Watc​h
  3. The Week That Was
  4. Stuff We Care About Today -  1Q16 Earnings Week 2 Calendar, HAL
  5. Odds & Ends

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24
Apr

Wrap – Week Ended 4/22/16

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The ZLT was up 9% last week and is up 21.5% year to date. The XOP was up 8% leading a strong energy group and is up 17% year to date. 

We added to the Core position in CPE last week prior to their acquisition and offering announcement. 

The Blotter is updated. 

Questions and comments under The Wrap will be addressed in the Monday post. 

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wrap 042216

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