The Toronto Stock Exchange’s S&P/TSX composite index ended the day 0.58 higher at 20,585.73. The TSX’s financials sector, which comprises 28% of the total weighting of the index, was down 0.6%.

Among those stocks that were downgraded by Barclays were Royal Bank of Canada, Bank of Nova Scotia, and Toronto-Dominion Bank, all of which declined during trading.

Helping the index to gain ground despite the banking stocks’ decline was the energy sector, which gained 0.4%, as well as industrials, up 0.5% for the day. Oil also advanced, ending the session 0.8% higher at $73.71 per barrel.

Greg Taylor, portfolio manager at Purpose Investments, viewed the Toronto Stock Exchange with high uncertainty as numerous stocks moved in opposite directions.

“It’s a market that is waiting for the next catalyst and everyone is hesitant,” Taylor explained. “The big thing in Toronto … was good strength in the energy stocks which seemed to bounce a bit with the commodity price but that was offset by some downgrades of some of the banks.”

The post Canadian Stocks Rise, Fueled By Energy Market appeared first on theprimarymarket.com.

According to the press release, the total value of Cheniere Energy’s outstanding contracts prior to the decline in natural gas prices amounts to $4.7 billion, thereby hedging the company against potential losses resulting from the recent price fall.

The largest US exporter of liquefied natural gas, Cheniere Energy confirmed that its exports of LNG hit record numbers over the first quarter amid a surge in overseas demand. The bulk of these cargos were delivered before milder than expected weather conditions curbed European demand for LNG.

Following its stronger than expected quarterly performance, the company raised its 2023 annual earnings forecast before items including derivative gains by $200 million to a midpoint of $8.5 billion.

The post Cheniere Energy Reports Record Profit Despite Natural Gas Price Fall appeared first on theprimarymarket.com.

In addition to increasing its annual profit, BP was able to boost its dividend by 10% to 6.61 cents per share. This comes as the company plans to repurchase $2.75 billion worth of shares over the next three months.

While the surge in energy prices following Russia’s invasion of Ukraine largely drove BP’s profits, the oil major has also been in the process of shifting toward renewables and low-carbon energy, with the company planning to increase annual spending on such activities by $1 billion. The focus of this investment would be the development of low-carbon biofuels and hydrogen.

Up until 2030, BP is planning to divide its spending equally between its conventional oil and gas business and its renewable energy transition. The company is set to have a particular focus on providing low-carbon and renewable power in the United States, where it would be eligible to receive investment credits and tax cuts due to the Inflation Reduction Act.

The post BP Announces Record Profit in 2022 appeared first on theprimarymarket.com.

In addition to far exceeding 2021’s profit margin, Shell’s 2022 figure was also significantly more than the company’s previous record profit of $31 billion in 2008.

The company’s LNG division was a standout performer for the year, hitting $6 billion in earnings largely spurred by gas price volatility. The division’s fourth-quarter earnings helped to offset the loss that was incurred during the third quarter.

Despite its strong financial performance, Shell has expressed concern over its expected payments of $2.4 billion in windfall levies. This comes as the British government, where the stock is listed, comes under pressure to impose such taxes on energy companies in order to offset the nation’s energy bills.

“The government is letting the fossil fuel companies making bumper profits off the hook with their refusal to implement a proper windfall tax,” Labour’s climate policy spokesperson Ed Miliband said of the UK government under the leadership of Prime Minister Rishi Sunak.

The post Shell Reports a Record $40 Billion Profit For 2022 appeared first on theprimarymarket.com.

“We believe the company’s future is very bright, not least because it is already prequalified in four countries to conduct a range of services, setting the stage for international expansion geared towards delivering growth and shareholder value,” CEO Saif Al Hamhami stated.

According to the company, the subscription period will begin in February while the shares are expected to start trading on the Muscat Stock Exchange in March. According to a report by Bloomberg, the IPO is expected to raise up to $500 million.

The plan to go public is part of Oman’s greater strategy to diversify its economy and open its stock market to more international investors, thereby following the example of the United Arab Emirates and Saudi Arabia.

The Oman Investment Authority stated in December that it is planning to raise a total of $1.3 billion by way of its exit strategy, which includes exiting investments in eight sectors in 2023, including those such as aviation, communications, information technology, and tourism.

The post Oman Energy Firm OQ Gears Up for IPO appeared first on theprimarymarket.com.

According to the company’s listing, Nextracker has an annual revenue in the region of $1.5 billion with a net income of $51 million over the last fiscal year.

Nextracker supplies integrated solar tracker and software solutions used in ground-mounted and utility-scale distributed generation solar projects. The company’s products assist solar panels to follow the sun’s movement across the sky, thereby optimizing performance.

The company’s decision to go public follows the passing of a landmark U.S. climate law that provides tax credits to solar institutions, including those that make use of panels that use Nextracker’s product.

Nextracker’s backers include TPG, while parent company Flex Ltd. will retain control of the company following the IPO. The public offering is being led by JPMorgan Chase & Co. and Bank of America Corp., followed by 12 other underwriters. The company is planning to trade under the ticker NXT on the Nasdaq Global Select Market.

The post Solar Energy Firm Nextracker Files for IPO appeared first on theprimarymarket.com.

Throughout this year, people had been investing like crazy into energy stocks—but come summertime, people started to pull back due to rumors that there was an impending recession on the horizon. However, it seems as though some of those recession worries have started to fade, and people are now wondering again if they should invest in the market.

Here’s what energy analyst Stewert Glickman had to say on the matter: “We still think we are in the early stages of a longer-term period where crude oil and natural gas prices remain fairly high by historical standards. In practical terms, this means crude oil likely in a range of $80/b – $100/b (WTI) (CL=F), and at those price points, many energy firms should have strong earnings power and throw off a lot of free cash flow.”

In other words, it’s still not a bad bet at all to invest in energy—but it’s also not necessarily a sure thing.

The post Experts Discuss If You Should Buy Energy Stocks appeared first on theprimarymarket.com.

The Toronto Stock Exchange’s S&P/TSX composite index ended the day 0.58 higher at 20,585.73. The TSX’s financials sector, which comprises 28% of the total weighting of the index, was down 0.6%.

Among those stocks that were downgraded by Barclays were Royal Bank of Canada, Bank of Nova Scotia, and Toronto-Dominion Bank, all of which declined during trading.

Helping the index to gain ground despite the banking stocks’ decline was the energy sector, which gained 0.4%, as well as industrials, up 0.5% for the day. Oil also advanced, ending the session 0.8% higher at $73.71 per barrel.

Greg Taylor, portfolio manager at Purpose Investments, viewed the Toronto Stock Exchange with high uncertainty as numerous stocks moved in opposite directions.

“It’s a market that is waiting for the next catalyst and everyone is hesitant,” Taylor explained. “The big thing in Toronto … was good strength in the energy stocks which seemed to bounce a bit with the commodity price but that was offset by some downgrades of some of the banks.”

The post Canadian Stocks Rise, Fueled By Energy Market appeared first on theprimarymarket.com.

According to the press release, the total value of Cheniere Energy’s outstanding contracts prior to the decline in natural gas prices amounts to $4.7 billion, thereby hedging the company against potential losses resulting from the recent price fall.

The largest US exporter of liquefied natural gas, Cheniere Energy confirmed that its exports of LNG hit record numbers over the first quarter amid a surge in overseas demand. The bulk of these cargos were delivered before milder than expected weather conditions curbed European demand for LNG.

Following its stronger than expected quarterly performance, the company raised its 2023 annual earnings forecast before items including derivative gains by $200 million to a midpoint of $8.5 billion.

The post Cheniere Energy Reports Record Profit Despite Natural Gas Price Fall appeared first on theprimarymarket.com.

In addition to increasing its annual profit, BP was able to boost its dividend by 10% to 6.61 cents per share. This comes as the company plans to repurchase $2.75 billion worth of shares over the next three months.

While the surge in energy prices following Russia’s invasion of Ukraine largely drove BP’s profits, the oil major has also been in the process of shifting toward renewables and low-carbon energy, with the company planning to increase annual spending on such activities by $1 billion. The focus of this investment would be the development of low-carbon biofuels and hydrogen.

Up until 2030, BP is planning to divide its spending equally between its conventional oil and gas business and its renewable energy transition. The company is set to have a particular focus on providing low-carbon and renewable power in the United States, where it would be eligible to receive investment credits and tax cuts due to the Inflation Reduction Act.

The post BP Announces Record Profit in 2022 appeared first on theprimarymarket.com.

In addition to far exceeding 2021’s profit margin, Shell’s 2022 figure was also significantly more than the company’s previous record profit of $31 billion in 2008.

The company’s LNG division was a standout performer for the year, hitting $6 billion in earnings largely spurred by gas price volatility. The division’s fourth-quarter earnings helped to offset the loss that was incurred during the third quarter.

Despite its strong financial performance, Shell has expressed concern over its expected payments of $2.4 billion in windfall levies. This comes as the British government, where the stock is listed, comes under pressure to impose such taxes on energy companies in order to offset the nation’s energy bills.

“The government is letting the fossil fuel companies making bumper profits off the hook with their refusal to implement a proper windfall tax,” Labour’s climate policy spokesperson Ed Miliband said of the UK government under the leadership of Prime Minister Rishi Sunak.

The post Shell Reports a Record $40 Billion Profit For 2022 appeared first on theprimarymarket.com.

“We believe the company’s future is very bright, not least because it is already prequalified in four countries to conduct a range of services, setting the stage for international expansion geared towards delivering growth and shareholder value,” CEO Saif Al Hamhami stated.

According to the company, the subscription period will begin in February while the shares are expected to start trading on the Muscat Stock Exchange in March. According to a report by Bloomberg, the IPO is expected to raise up to $500 million.

The plan to go public is part of Oman’s greater strategy to diversify its economy and open its stock market to more international investors, thereby following the example of the United Arab Emirates and Saudi Arabia.

The Oman Investment Authority stated in December that it is planning to raise a total of $1.3 billion by way of its exit strategy, which includes exiting investments in eight sectors in 2023, including those such as aviation, communications, information technology, and tourism.

The post Oman Energy Firm OQ Gears Up for IPO appeared first on theprimarymarket.com.

According to the company’s listing, Nextracker has an annual revenue in the region of $1.5 billion with a net income of $51 million over the last fiscal year.

Nextracker supplies integrated solar tracker and software solutions used in ground-mounted and utility-scale distributed generation solar projects. The company’s products assist solar panels to follow the sun’s movement across the sky, thereby optimizing performance.

The company’s decision to go public follows the passing of a landmark U.S. climate law that provides tax credits to solar institutions, including those that make use of panels that use Nextracker’s product.

Nextracker’s backers include TPG, while parent company Flex Ltd. will retain control of the company following the IPO. The public offering is being led by JPMorgan Chase & Co. and Bank of America Corp., followed by 12 other underwriters. The company is planning to trade under the ticker NXT on the Nasdaq Global Select Market.

The post Solar Energy Firm Nextracker Files for IPO appeared first on theprimarymarket.com.

Throughout this year, people had been investing like crazy into energy stocks—but come summertime, people started to pull back due to rumors that there was an impending recession on the horizon. However, it seems as though some of those recession worries have started to fade, and people are now wondering again if they should invest in the market.

Here’s what energy analyst Stewert Glickman had to say on the matter: “We still think we are in the early stages of a longer-term period where crude oil and natural gas prices remain fairly high by historical standards. In practical terms, this means crude oil likely in a range of $80/b – $100/b (WTI) (CL=F), and at those price points, many energy firms should have strong earnings power and throw off a lot of free cash flow.”

In other words, it’s still not a bad bet at all to invest in energy—but it’s also not necessarily a sure thing.

The post Experts Discuss If You Should Buy Energy Stocks appeared first on theprimarymarket.com.