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Salesforce.com: Completing the Package

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Earlier this week, leading SaaS firm Salesforce.com (click ticker for report: ) made headlines acquiring cloud marketing platform ExactTarget (ET) for $2.5 billion in cash ($33.75/share). The move comes as Salesforce.com hopes to round out its product offering, and adding a company largely known for its email marketing platform helps the firm move toward this goal. Salesforce.com CEO Marc Benioff, excited about the transaction, explained that the landscape is changing, saying on the firm’s conference call about the deal: “There is no doubt our whole industry is changing, and the opportunity to create solutions in sales and service and marketing that are unified, that are mobile, that are social, that are in the cloud, that this combination of these two … Read more

Big Energy Earnings Roundup

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Image Source: Exxon Mobil Corporation – Third Quarter 2019 Earnings Presentation By Callum Turcan In alphabetical order by ticker: COP, CVX, RDS, TOT, XOM ConocoPhillips On October 29, upstream super-independent ConocoPhillips (COP) reported third quarter earnings for 2019. Its adjusted underlying oil and gas output rose by 7% year-over-year to over 1.3 million BOE/d in the quarter. Conoco sold off most of its UK operations (through a deal announced in April 2019), which were primarily represented by mature offshore oil and gas fields and a stake in the Clair oilfield, raising approximately $2.2 billion in net cash proceeds when the deal was completed in the third quarter. That transaction will see Conoco’s upstream output move lower sequentially in the fourth … Read more

ExxonMobil’s Great Earnings Report and Promising Growth Outlook

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Image Shown: An overview of ExxonMobil Corporation’s strategy to generate shareholder value going forward. Image Source: ExxonMobil Corporation – Second Quarter of 2021 Earnings IR Presentation By Callum Turcan We added shares of ExxonMobil Corporation (XOM) as an idea to both the Best Ideas Newsletter and Dividend Growth Newsletter portfolios back on June 27 (link here) to gain greater exposure to the ongoing recovery in the global energy complex. On a day-to-day, month-to-month basis, raw energy resources pricing (crude oil, natural gas, and natural gas liquids) will bounce around (commodity prices are inherently volatile). However, what we have been interested in the most is the sharp recovery seen in raw energy resources pricing since the start of 2021. That includes … Read more

Dividend Increases/Decreases for the Week of July 29

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Below we provide a list of firms that raised their dividends during the week ending July 29. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                Alexander & Baldwin (ALEX): now $0.22 per share quarterly dividend, was $0.20. Alliance Resource Partners (ARLP): now $0.40 per share quarterly dividend, was $0.35. Amalgamated Bank (AMAL): now $0.10 per share quarterly dividend, was $0.08. American States Water (AWR): now $0.3975 per share quarterly dividend, was $0.3650. Arbor Realty Trust (ABR): now $0.39 per share quarterly dividend, was $0.38. Armada Hoffler Properties (AHH): now $0.19 … Read more

2,350-2,750 on the S&P? Could the Coronavirus Catalyze a Financial Crisis?

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Image: We think a rather modest sell-off in the market to the target range of 2,350-2,750 on the S&P 500 is rather reasonable in the wake of one of the biggest economic shocks since the Global Financial Crisis. The chart above shows how far markets have advanced since 2011, and an adjustment lower to the target range of 2,350-2,750 is rather modest in such a context and would only bring markets to late 2018 levels (note red box as the target range). The range reflects ~16x S&P 500 12-month forward earnings estimates, as of February 14, adjusted down 10% due to COVID-19. When companies like Visa talk about a couple percentage points taken off of growth rates, one knows that … Read more

Dividend Increases/Decreases for the Week of April 25

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Below we provide a list of firms that raised their dividends during the week ending April 25. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          1st Source (SRCE): now $0.38 per share quarterly dividend, was $0.36. ACNB (ACNB): now $0.34 per share quarterly dividend, was $0.32. AEGON (AEG): now $0.1992 per share semi-annual dividend, was $0.1780. Alphabet (GOOG): now $0.21 per share quarterly dividend, was $0.20. Ameriprise Financial (AMP): now $1.60 per share quarterly dividend, was $1.48. Avery Dennison (AVY): now $0.94 per share quarterly dividend, was $0.88. Bank … Read more

Analyzing Chevron and Important Updates in the Global Energy Industry

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Image Source: Chevron Corporation – November 2019 IR Presentation Summary In this note, let’s cover the current state of raw energy resource prices in North America and around the world. We’ll analyze Chevron’s 2020 capital investment and exploration budget, in particular, and the global energy industry at-large. Shares of CVX appear generously valued as of this writing given the numerous headwinds facing the energy industry going forward. By Callum Turcan The world of oil and gas equities has been battling with persistently low raw energy resource prices for some time now. Back in the middle of 2014, a barrel of light sweet crude delivered to Cushing, Oklahoma (home of the West Texas Intermediate, or WTI, benchmark), would fetch over $100. Now … Read more

Chevron Investing in Biofuels and Hydrogen

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Image Source: Chevron Corporation – August 2021 IR Presentation On June 27, 2021 (link here), we added Chevron Corporation (CVX) as an idea to both the Best Ideas Newsletter and Dividend Growth Newsletter portfolios. We are huge fans of the energy giant’s capital appreciation potential, with our fair value estimate standing at $115 per share of CVX, well above where Chevron is trading at as of this writing. Additionally, we are huge fans of Chevron’s dividend growth potential in the wake of the recovery seen in raw energy resources pricing year-to-date. Shares of CVX yield ~5.6% as of this writing, and we expect Chevron will steadily grow its payout going forward, aided by its promising free cash flow growth trajectory. … Read more

Dividend Increases/Decreases for the Week of January 26

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Below we provide a list of firms that raised their dividends during the week ending January 26. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          Acerinox, S.A. (ANIOY): now $0.1219 per share semi-annual dividend, was $0.1159. Acuity Brands (AYI): now $0.15 per share quarterly dividend, was $0.13. ADT (ADT): now $0.055 per share quarterly dividend, was $0.035. Air Products and Chemicals (APD): now $1.77 per share quarterly dividend, was $1.75. ALLETE (ALE): now $0.705 per share quarterly dividend, was $0.6775. American Express (AXP): now $0.70 per share quarterly dividend, … Read more

Dividend Increases/Decreases for the Week of July 25

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Below we provide a list of firms that raised their dividends during the week ending July 25. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          Archrock (AROC): now $0.21 per share quarterly dividend, was $0.19. Arrow Financial (AROW): now $0.29 per share quarterly dividend, was $0.28. Blackstone (BX): now $1.03 per share quarterly dividend, was $0.93. Cashmere Valley Bank (CSHX): now $0.95 per share semi-annual dividend, was $0.90. CB Financial Services (CBFV): now $0.26 per share quarterly dividend, was $0.25. ChipMOS (IMOS): now $0.836 per share American depositary share, … Read more