Financial Results Releases, Completion of Divestiture, and Senior Level Appointment - Research Reports on U. S. Steel, Hess, ConocoPhillips, Occidental and Dow
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NEW YORK, August 4, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding United States Steel Corporation (NYSE: X), Hess Corp. (NYSE: HES), ConocoPhillips (NYSE: COP), Occidental Petroleum Corporation (NYSE: OXY) and The Dow Chemical Company (NYSE: DOW). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5409-100free.
United States Steel Corporation Research Reports
On July 29, 2014, United States Steel Corporation (U. S. Steel) released its Q2 2014 and H1 2014 financial results. The Company reported Q2 2014 net sales of $4.4 billion, declining slightly by 0.7% YoY. Q2 2014 net loss attributable to U. S. Steel was narrowed to $18 million or $0.12 diluted loss per share, from net loss of $78 million or $0.54 per diluted share in Q2 2013. Reuters reported that the Company was able to narrow its Q2 2014 net loss as steel prices improved, but the impact of bad weather, higher repairs and maintenance costs continued to weigh on earnings. The Company reported H1 2014 net sales of $8.8 billion, down 2.0% YoY. The Company's H1 2014 net income attributable to U. S. Steel came in at $34 million or $0.23 per diluted share, compared to net loss of $151 million or $1.05 diluted loss per share in H1 2013. On the next day of the results release, the Company stock surged 19.37% to end the day at $33.03. The full research reports on U. S. Steel are available to download free of charge at:
http://www.analystsreview.com/Aug-04-2014/X/report.pdf
Hess Corp. Research Reports
On July 30, 2014, Hess Corp. (Hess) released its Q2 2014 and H1 2014 financial results. The Company reported Q2 2014 total revenues and non-operating income of $3.6 billion, down 13.5% YoY, but surpassed the Zacks consensus revenue forecast of $2.8 billion. Zacks reported that due to better realizations in Q2 2014 the Company was able to surpass the consensus revenue estimates for the quarter. Q2 2014 net income attributable to Hess came in at $931 million or $2.96 per diluted share (surpassing Zacks consensus estimate of $1.20 per share), compared to net income of $1.4 billion or $4.16 per diluted share in Q2 2013. The Company's H1 2014 total revenues and non-operating income declined 24.0% YoY to $6.3 billion. The Company's H1 2014 net income attributable to Hess came in at $1.3 million or $4.13 per diluted share, compared to net income of $2.7 billion or $7.88 per diluted share in H1 2013. The full research reports on Hess are available to download free of charge at:
http://www.analystsreview.com/Aug-04-2014/HES/report.pdf
ConocoPhillips Research Reports
On July 30, 2014, ConocoPhillips (ConocoPhillips) announced that the Company has completed the sale of its Nigeria upstream business to Oando Energy Resources (OER), a subsidiary of Oando PLC, for $1.5 billion (after customary adjustments). ConocoPhillips informed that the sale price includes $550 million of deposits, approximately $900 million received at closing, plus $33 million in deferred payments. From the sale, the Company expects net proceeds of c. $1.4 billion after customary adjustments, after excluding c. $100 million cash in the business at closing. The Company plans to recognize an after-tax gain of c. $1.1 billion. In addition, the Company has also transferred its 17% interest along with related interest in Brass LNG Limited (Brass LNG) to its existing shareholders. The full research reports on ConocoPhillips are available to download free of charge at:
http://www.analystsreview.com/Aug-04-2014/COP/report.pdf
Occidental Petroleum Corporation Research Reports
On July 15, 2014, Occidental Petroleum Corporation (Occidental) announced the appointment of Marshall D. (Mark) Smith as Senior Executive Vice President and CFO of its subsidiary, California Resources Corporation (California Resources). Mark previously served at Ultra Petroleum as Senior Vice President and CFO. Todd A. Stevens, President and CEO, California Resources, said, "I'm pleased to add Mark to the California Resources executive management team. His background in corporate finance combined with expertise in petroleum engineering and deep understanding of operating independent oil and gas companies will be a tremendous asset to the company." The full research reports on Occidental are available to download free of charge at:
http://www.analystsreview.com/Aug-04-2014/OXY/report.pdf
The Dow Chemical Company Research Reports
On July 23, 2014, The Dow Chemical Company (Dow) reported Q2 2014 net sales of $14.92 billion, up 2.3% YoY, led by Performance Plastics (up 1.9% YoY), Electronic and Functional Materials (up 4.6% YoY), and Agricultural Sciences segment (up 3.1% YoY). According to Zacks, the Company was expected to post Q2 2014 EPS of $0.72 and revenues of $14.88 billion. Q2 2014 net income available to Dow's common stockholders came in at $882 million or $0.73 per diluted share, compared to net income of $2.3 billion or $1.87 per diluted share in Q2 2013. The Company reported H1 2014 net sales of $29.4 billion, up 1.4% YoY. The Company's H1 2014 net income available to Dow's common stockholders came in at $1.8 billion or $1.52 per diluted share, compared to net income of $2.9 billion or $2.36 per diluted share in Q2 2013. The full research reports on Dow are available to download free of charge at:
http://www.analystsreview.com/Aug-04-2014/DOW/report.pdf
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