Oil Majors long term horizons

Oil Majors long term horizons
  • Pininvest Analysis

In the short term, oil prices drive the investor’s perception of share values

  • the dollar – as quoted currency – affects pricing positively when the currency weakens
  • economic growth prospects are expected to strenghten energy demand
  • geopolitical developments in major energy producing countries (Venezuela, Iran, Russia, Qatar) may affect world production adversely, constraining supply

But most of today's investment decisions of energy majors are made for 2030 and beyond, with choices affecting the energy mix, the technologies and the geopolitical distribution of energy resources in the distant future

The majors, defined for our purpose as companies topping a $50bn market cap (Jan. ’18), are best positioned to include very long term considerations in their global strategies, even if some decisions may take years to come to fruition

Taking the long view on valuation  for energy majors, the fit between their energy mix and 2030/2040 projected consumption  should be as relevant as resources currently in their portfolio

Read our note

Oil Majors long term horizons • Updated:

Name Ticker Exchange Sector Industry Currency Cur.Price Mkt.Cap Perf. Vol. Risk Contrib. MDD
 
Rosneft Oil OJSCY OTC Energy Integrated Oil & Gas Companies USD 6.28 - 3.0% 88%   10% -47%
British Petroleum (ADR) BP NYSE Energy Integrated Oil & Gas Companies USD 37.87 136 B -6.8% 19%   5% -23%
Chevron Corp. CVX NYSE Energy Integrated Oil & Gas Companies USD 121.50 231 B 7.5% 22%   6% -20%
China Petroleum & Chemical (ADR) SNP NYSE Energy Integrated Oil & Gas Companies USD 62.86 76 B -28.1% 26%   4% -44%
CNOOC CEO NYSE Energy Integrated Oil & Gas Companies USD 151.54 68 B -13.2% 30%   6% -30%
ConocoPhillips COP NYSE Energy Integrated Oil & Gas Companies USD 57.34 64 B -20.3% 29%   6% -37%
Eni S.P.A. E NYSE Energy Integrated Oil & Gas Companies USD 31.05 56 B -12.2% 20%   5% -26%
EOG Resources EOG NYSE Energy Integrated Oil & Gas Companies USD 79.39 46 B -31.8% 36%   6% -46%
Equinor (ADR) EQNR NYSE Energy Integrated Oil & Gas Companies USD 19.43 65 B -23.8% 27%   6% -43%
Exxon Mobil Corp. XOM NYSE Energy Integrated Oil & Gas Companies USD 72.64 307 B -8.3% 20%   5% -24%
Occidental Petroleum OXY NYSE Energy Integrated Oil & Gas Companies USD 45.09 34 B -37.8% 30%   4% -49%
Petrochina Company PTR NYSE Energy Integrated Oil & Gas Companies USD 53.08 97 B -25.5% 25%   5% -42%
Petroleo Brasileiro S.A.- Petrobras PBR NYSE Energy Integrated Oil & Gas Companies USD 14.54 95 B 39.5% 41%   13% -27%
Royal Dutch Shell ADR RDS_B NYSE Energy Integrated Oil & Gas Companies USD 57.20 - -8.4% 20%   5% -23%
Royal Dutch Shell ADR RDS_A NYSE Energy Integrated Oil & Gas Companies USD 56.87 - -6.0% 20%   5% -21%
Suncor Energy SU NYSE Energy Integrated Oil & Gas Companies USD 30.41 48 B -16.8% 25%   5% -35%
TOTAL TOT NYSE Energy Integrated Oil & Gas Companies USD 51.85 137 B -12.6% 21%   5% -27%