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The ZLT was off 5.2% on the week last week as oil and gas retreated into the long weekend on mounting rate fears. Earnings season continued to play out largely as expected (see the last Five Things update here; and look for a fresh edition next Tuesday) for the oily, oil service, and solar segment names while the gassy players have missed the mark for a second quarter largely due to price based misses by analysts (especially with regard to NGLs). We are through 28 calls this quarter and have another 24 reports in the coming week (7 of them owned names - see Calendar link at left) as we reach the heart of the 4Q22 reporting season.
Free Stuff Last Week: None but we do expect to put a piece or two to Seeking Alpha soonish.
Holdings Watch:
- We added to one gassy player, one oil service name, and one solar segment name last week.
- The Blotter is updated.
Elduque Watch:
It is with a heavy heart but a hopeful spirit we mark the passing of Elduque. Duke was with us for 16 years and I thought of him as a friend. Over that time we had many spirited discussions, on and off the site, and I will miss his curiosity and generous nature. His early counsel helped set the collaborative tone we strive for each day.
While he was passionate about investing he was a big believer in education founding programs for disadvantaged youth and helped build many schools in remote corners of the world. Towards the end he told me he sure had enjoyed the journey and then he donated to our local children's hospital in his last contact with me. Honored to have known him.
RIP DUKE.
Questions and comments under The Wrap will be addressed in the Subscriber Mailbag section of the Tuesday post.
Questions about the site may be directed to zman@zmansenergybrain.com
Have a peaceful weekend,
Z
