Our Research

***Excel Data Available Upon Request. Full Company Level Details (~200 Corporates) Within*** The following equities exhibited notable w/w changes in their active shares on loan utilization… Higher: GEL/ ARLP/ MPLX/ NPWR/ PAL/ TPIC/ EVA/ MTDR/…

One of the greatest joys of moving out of Manhattan has been an abundance of delicious, reasonably priced chain food restaurants. Who needs L’Artusi anyways! Chilis is probably my favorite but may switch it up…

Did you Know: New Jersey is the only state left where it is illegal to pump your own gas. Hence most people in New Jersey prefer to pump their fists. New Jersey law states that…

So we got a few more unconfirmed M&A tales this week (links to Bloomberg news reports below). We’ve been aggregating some of the general comments and feedback we have collected. See within for details.  As…

In a recent note (XOM for PXD is the Largest Announced M&A Deal Globally YTD) we highlighted some of the most discussed questions and topics with investors. We attempt to answer these within. Is this…

Leading with the conclusion (full details within): We continue to like this infrastructure laggard (-2.5% vs. broader infra Q3 thru today). There are a few items to look for on the call tomorrow, but no one…

…though November Oil & Gas production is still indicated lower by ~0.5%. See report for details. Realize some folks don’t like the EIA data but the new drilling productivity report just got released today. LINK…

***Excel Data Available Upon Request. Full Company Level Details (~200 Corporates) Within*** We are now including a few high level observations and set-ups in the body as well. Shares on Loan (‘SOL’) are simply shares…

Biggest Single Stock Losers (Since Inception): UW BP (-12%) UW VLO (-7%) OW KMI (-3%) UW XOM (-2%) Biggest Single Stock Winners (Since Inception): UW PLUG (+42%) UW NEE (+36%) OW COP (+21%) OW EOG…

***Please see below for a comprehensive summary of weekly news articles*** We only include links to news sources that do NOT require you to have a subscription to the respective site, or if they do,…

…to replace PXD after closing out our OW PXD vs. UW XOM trade earlier in the week (link). Recall we are choosing not to play the arb spread here. We maintain our UW on XOM…

***We have had a ton of feedback/ discussions on this transaction today*** Because it is a special day for all of us in Energy (not counting the Broadcom deal since it was announced in 2022…

Effective immediately, we are removing our OW PXD and UW XOM trade ideas from our model portfolio. We initiated the positions on June 30th for a total return (share price only) of ~16%. With the…

Investor Call at 11AM CST/ 12PM EST Dial-In: 720.543.0217 Passcode: 2259793 Link to Prepared Remarks: XOM Prepared Remarks Link to Presentation: XOM – PXD Deal Presentation All-equity deal w/ exchange ratio of 2.3234 ExxonMobil shares for each…

We identified 1) WMB; and 2) TRGP as the most ‘accretive’ potential buyers of the Plains’ Structure – at least in an excel spreadsheet. Followed by 3) KMI; and 4) ET & MPLX (Tie). By…