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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Latest Valuentum Commentary

Jul 30, 2019
Don't Follow the Social Media Likes: The Divine “Comment(y)”
Image Source: Pilottage. “Personally, it was a miserable experience for me to see things that others couldn’t.” – Nelson on Valuentum’s call preceding Kinder Morgan’s dividend cut.
Jul 11, 2019
Valuentum Exclusive Yearly Round Up
"I want finance to learn from the past, the quantitative mistakes of yesteryear that brought the world economy to its knees. The misaligned incentives that created a massive bubble and subsequent housing market crash. The problems of leverage in yet another quant hedge fund Long Term Capital Management that caused panic in the late 1990s. Wall Street is not learning from history, and many are going wildly down the path of destruction. Don’t confuse indexing with a bull market. Pay attention to what you own. Stay diversified, and most of all, do your own due diligence." -- President of Investment Research, Brian Nelson, CFA
Jul 2, 2019
Checking Out ARAMCO, Saudi Arabia’s Sleeping Giant
Image Source: Trending Topics 2019. Recent events have piqued our interest in the actions of Saudi Arabian Oil Company, better known as ARAMCO, the giant in charge of the Gulf nation’s hydrocarbon industry. Many view ARAMCO as the most valuable company in the world, but whether this is a USD$2 trillion company or not is in the eye of the beholder (many see that target as overly ambitious, as do we).
Jun 30, 2019
Chevron's Permian Opportunity, Outsize Dividend Yield
Image Source: Chevron Corporation -- IR Presentation. Large oil & gas companies like Chevron are often sought after for their nice yields and promising growth prospects; however, the space has been undergoing a medium/long-term bust since late-2014. Chevron earned a return on invested capital, excluding goodwill, that was lower than its estimated weighted-average cost of capital in 2018 (its ROIC ex-goodwill were negative in 2016 and 2017). We don’t expect that to change until fiscal 2020 at the earliest, under our baseline assumptions, but we do expect Chevron’s financial performance (and returns) to improve materially through the early-2020s. That isn’t enough to get use excited about Chevron’s shares and its nice yield, but we are monitoring the space at-large.
May 14, 2019
Markets Swooning, Expect Extreme Volatility, Finger on Put-Option Trigger
Image shown: We notified members December 26 that we had moved  the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio to a "fully invested" position, from a 30% and 20% cash "weighting" at the high end of the range, respectively.
May 3, 2019
Energy Earnings Roundup
Image Source: Exxon Mobil Corporation -- First quarter 2019 earnings presentation. 
May 2, 2019
Occidental Petroleum, Backed by Buffett’s Financial Firepower, Makes a Go At Anadarko Petroleum in an Affront to Chevron
Image Source: Occidental Petroleum Corp -- IR presentation. The bidding war over Anadarko Petroleum is heating up with Warren Buffett’s Berkshire Hathaway offering to invest $10.0 billion in a new 8% preferred issue from Occidental Petroleum, along with warrants to purchase up to 80 million shares of OXY at $62.50, if the energy company successfully acquires Anadarko. Occidental is bidding against Chevron because both firms want Anadarko’s Permian Basin acreage, but the leverage Occidental would take on the fund the deal would be extremely onerous in our view.
Apr 14, 2019
Chevron Joins the Ranks of Exxon Mobil and Shell After Buying Anadarko
Image Source: Chevron Corporation – IR presentation. Chevron is buying Anadarko. Chevron will have to show that the projected operational synergies and related capital intensity reductions actually materialize through this acquisition, as execution risk is very material in the oil & gas world. We will be monitoring the industry as further consolidation is possible with interest rates remaining low for the time being and in light of oil prices moving sharply higher since January.
Apr 9, 2019
Top Research and Ideas You May Have Missed
Is Quant Value Giving Intrinsic Value Investors a Bad Name? Surely, you don't believe Warren Buffett's "style" is out of favor?
Mar 29, 2019
ATTN: Advisors and Planners -- Disruption Is Looming
"With the commoditization of investment advice and intense competition from robos and other more cost-efficient solutions, growth-minded advisors want to create bespoke experiences for clients." -- WealthManagement.com


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The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.