Brendan Wood International Investor Conviction Intel
Oil & Gas – February 2024
New York, NY, February 27th, 2024 (TopGun Press)
Below are some of the most topical Oil & Gas Stocks on the BWI Shareholder Confidence Index based on our daily chats with global investors. If you would like more detailed shareholder conviction intelligence on North American and European Oil and Gas companies, please contact Gordon Peck.
Cenovus: Cenovus’ stock has rallied early in 2024. Despite coming out of the gates hot, investors say there is still more room to run, rating them as one of the very top names in regards to their Price Appreciation Potential amongst the Global Oil & Gas companies on the BWI Index. Cenovus’ Ownership Penetration of the Panel has continued to increase in 1Q thus far compared to previous quarters. Investor confidence in Cenovus hitting their net debt target continues to rise. While investors are still waiting for them to hit it, they say the story is moving in the right direction.
Chevron: Commitment to Own Chevron continues to rise so far in 1Q among investors in the BWI panel. Investors are gaining confidence in the Chevron/Hess deal, with the majority viewing it as the right move strategically. Investor confidence in Chevron’s Strategy, Senior Management and Balance Sheet have all seen a noticeable increase in 1Q as of February 27th.*
*This is before the recent developments surrounding the Chevron Hess deal.
Parex Resources: Investor confidence in Parex Resources has been under pressure so far this year. Investors cite their disappointing results the past couple quarters as a deterrent. Investment Quality metrics such as: Strategy, CEO, Balance Sheet, Senior Management, Short Term Growth, Momentum and Price Appreciation Potential have all slid. According to investors, Parex’s focus on exploration, rather than development of their assets, has hurt them. Missing their production goals is a growing concern amongst investors.
Phillips 66: BWI Investor Confidence in Phillips 66 has remained relatively flat, despite an activist being involved. Investors say their issues with Phillips 66 lie with their operational issues not their Strategy. Investor confidence in their Long Term Growth has increased this quarter as investors have confidence there will be a positive resolution at the end of this for creating Long Term shareholder value.
Largest Shareholder Confidence Index Changes (YE 1Q2024 at February 26th vs. YE 4Q2023):
USA:
Coterra Energy Inc +1.76%
HF Sinclair Corporation +1.2%
Antero Resources Corp. +1.13%
Occidental Petroleum Corp. -2.31%
Hess Corp -3.22%
Murphy Oil -9.35%
Canada:
Crescent Point Energy Corp. +4.96%
Baytex Energy Corp +3.49%
MEG Energy Corp +3.00%
Parex Resources Inc -2.17%
Birchcliff Energy Ltd. -2.32%
Surge Energy -2.44%
Europe:
Shell Plc +2.82%
TotalEnergies SE +1.33%
Galp Energia +1.06%
BP PLC -0.41%
Eni S.p.A -2.44%
Brendan Wood International (BWI) serves a dual clientele of world leading investors and their corporate investment targets as well as broker dealers who provide research, sales and trading services to the investment community. Big cap companies looking for comprehensive investor confidence data on their organizations are likely to discover that Brendan Wood partners consult with their investors non stop year round. Investors depend on BWI to quantify the demand side of the investment industry across 1400 names worldwide, including the name by name research sales and trading professionals who influence investor demand.
About Brendan Wood International:
Brendan Wood International (BWI), formed in 1970, is a private advisory group which originates performance investigation programs in the capital markets. Brendan Wood Partners debrief large institutional investors worldwide on a daily basis. There are 2000+ live consultations with professionals overseeing +/- $55 trillion invested in the +/- 1400 big cap companies on the BWI Index. Relying on its real time performance intelligence, BWI advises public companies, institutional and activist investors, investment banks and broker dealers on strategy, performance and recruitment of TopGun talent. The firm’s partners have formally presented at 1000+ C level strategy meetings and corporate off-sites in fifty cities. Brendan Wood founded the exclusive TopGun Club, a performance based institution.
Disclaimer:
We wish to emphasize that all reports, evaluations and assessments contained herein, represent Brendan Wood International’s subjective judgment and opinions, based on our years of experience and on information obtained by us in the course of our research. Much of the factual information contained in the reports has been obtained by us from third parties on whose responses we have relied in good faith, independent verification by Brendan Wood International being, under the circumstances, impossible. While we believe that you will find our reports to be an invaluable tool in formulating your own strategies and judgments, the foregoing should be borne in mind. This report is not meant as investment advice and should not be interpreted as advising on the value of a company’s securities, the advisability of investing in, purchasing or selling any company’s securities or any other conclusion relating to investment/divestiture of a company’s securities. Finally, this report is not intended as an offer or solicitation for the purchase or sale of any company’s securities.
Contacts:
Jordan Novak
Managing Partner
Brendan Wood International
+1 416 924 8110
jnovak@brendanwood.com
Gordon Peck
Managing Director
Brendan Wood International
+1 416 924 8110
gpeck@brendanwood.com
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