After reporting a record quarterly profit of $5.2 billion, Well Fargo's (NYSE: WFC ) CEO John Stumpf and CFO Tim Sloan walked investors through the bank's various segments and answered several questions.
While Wells Fargo's management team doesn't receive the same level of press as the executives at Bank of America�and JPMorgan Chase, Stumpf and Sloan offer some fantastic insight regarding where they see opportunity in the banking environment and what it means for investors.
On "too big to fail"
"We do not need additional legislation aimed at big banks. Important and significant regulatory changes have been made since the financial crisis, and we need to give existing regulations a chance to work, especially now, when all of our energy should be focused on creating growth and new jobs."
��ohn�Stumpf
Stumpf is clearly communicating that he believe the steps taken by the Federal Reserve and the legislation enacted via the Dodd-Frank bill is enough to curb worries over too big to fail. Does too big to fail still exist? Most likely, but in order for the banking sector and the economy as a whole to move forward, less time needs to be spent on this issue.
Top Sliver Companies To Buy Right Now: Fleetcor Technologies Inc (FLT)
FleetCor Technologies, Inc. (FleetCor) is an independent global provider of specialized payment products and services to businesses, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America and Europe. During the year ended December 31, 2011, the Company processed more than 215 million transactions on its networks and third-party networks. The Company operates in two segments: North American and International segments. The Company provides its payment products and services in a variety of combinations to create payment solutions for its customers and partners. In August 2011, the Company acquired Mexican prepaid fuel card and food voucher business based in Mexico City, Mexico. On December 13, 2011, the Company acquired Allstar Business Solutions Limited, a fleet card company based in the United Kingdom. In July 2012, the Company acquired a Russian fuel card company. In July 2012, the Company acquired CTF Technologies, Inc.
The Company uses third-party networks to deliver its payment programs and services. In order to deliver its payment programs and services and process transactions, it owns and operates closed-loop networks through which it electronically connects to merchants and captures, analyzes and reports information. The Company also provides a range of services, such as issuing and processing. The Company markets its payment products directly to a range of commercial fleet customers, including vehicle fleets of all sizes and government fleets. Among these customers, it provides its products and services to small and medium commercial fleets. The Company also manages commercial fleet card programs for oil companies, such as British Petroleum (BP) (including its subsidiary Arco), Chevron and Citgo, and over 800 petroleum marketers.
The Company sells a range of fleet and lodging payment programs directly and indirectly through partners, such as oil companies and petroleum marketers. It provides it! s customers with various card products that function like a charge card to purchase fuel, lodging and related products and services at participating locations. The Company supports these cards with issuing, processing and information services that enable it to manage card accounts, facilitate the routing, authorization, clearing and settlement of transactions. The Company provides these services in a variety of outsourced solutions ranging from an end-to-end solution (consisting issuing, processing and network services) to limited back office processing services.
In addition, the Company offers a telematics solution in Europe that combines global positioning, satellite tracking and other wireless technology to allow fleet operators to monitor the capacity utilization and movement of their vehicles and drivers. The Company offers prepaid fuel and food vouchers and cards in Mexico that may be used as a form of payment in restaurants, grocery stores and gas stations. Approximately 10.4% of its revenue during the year ended December 31, 2011 came from its lodging and telematics products.
During 2011, the Company owns and operates eight closed-loop networks in North America and internationally. Fuelman network is the Company�� primary fleet card network in the United States. Corporate Lodging Consultants network (CLC) is the Company�� lodging network in the United States and Canada. The CLC Lodging network covers more than 17,700 hotels across the United States and Canada. Commercial Fueling Network (CFN) is the Company�� members only unattended fueling location network in the United States and Canada. Keyfuels network is the Company�� primary fleet card network in the United Kingdom.
CCS network is the Company�� primary fleet card network in the Czech Republic and Slovakia. Petrol Plus Region (PPR) network is the Company�� primary fleet card network in Russia, Poland, Ukraine, Belarus, Lithuania, Estonia and Latvia. Mexican network is the Company�� fuel! and food! card and voucher network in Mexico. Allstar network is the Company�� fleet card network in the United Kingdom. In the United States, the Company issues corporate cards that utilize the MasterCard payment network, which includes 176,000 fuel sites and 398,000 maintenance locations across the country. The networks of locations owned by the Company�� oil and petroleum marketer partners in both North America and internationally are utilized to support the card programs of these partners.
UNION TANK Eckstein GmbH & Co. KG (UTA) operates a network of over 46,000 fleet card-accepting locations across 38 countries throughout Europe, including more than 31,000 fueling sites. DKV operates a network of over 45,000 fleet card-accepting locations across 36 countries throughout Europe, including more than 30,500 fueling sites. In Mexico, the Company issues fuel cards and food cards that utilize the Carnet payment network, which includes approximately 8,700 fueling sites and 78,890 food locations across the country.
The Company competes with Wright Express Corporation, Comdata Corporation, U.S. Bank Voyager Fleet Systems Inc., Edenred and Sodexo, Inc.
Advisors' Opinion:- [By MONEYMORNING.COM]
And FPX holds some great tech stocks: Tesla Motors Inc. (Nasdaq: TSLA), NXP Semiconductors NV (Nasdaq: NXPI), and Fleetcor Technologies (NYSE: FLT), a leading payments processing firm, are just the start of the list.
Top Energy Stocks To Buy Right Now: NK Lukoil OAO (LKOH)
NK Lukoil OAO (Neftyanaya Kompaniya LUKOIL OAO or NK LUKOIL OJSC) is a Russia-based integrated oil and gas company. The Company is engaged in the business of oil exploration, production, refining, marketing and distribution. It is an owner of refineries, gas processing, petrochemical plants and gas stations network located in Russia, Eastern and Western Europe, as well as Africa. The Company�� petroleum products are sold in the Russian Federation, the Commonwealth of Independent States (CIS) countries, Eastern and Western Europe, Asia and the United States. NK Lukoil OAO operates through numerous subsidiaries and affiliated companies. In April 2013, the Company acquired a 100% of Samara-Nafta ZAO and completed acquisition of CJSC Kama-Oil. In June 2013, it sold a 99.57% stake in Lukoil Odes'kyi NPZ PAT. The Company�� major shareholder is NKO ZAO NRD with a stake of 91.60%. In December 2013, it consolidated a 100% stake in ISAB Srl. Advisors' Opinion:- [By Julia Leite]
Brazil�� Ibovespa (IBOV) fell to a six-week low, while the real slid to its weakest level in four years, spurring central bank intervention. Housing Development Finance Corp. drove India�� S&P BSE Sensex down, while the rupee completed its worst month in a year. OAO Lukoil (LKOH), Russia�� second-largest oil producer, slipped 2.3 percent as crude slumped.
- [By Rajhkumar K Shaaw]
Russian stocks rose as oil, the nation�� main export earner, climbed. OAO Lukoil (LKOH) gained for the first time this week. Benchmark gauges in Hungary and Turkey also advanced. Tofas Turk Otomobil Fabrikasi AS, the Turkish carmaker part-owned by Fiat SpA, climbed for a second day on bets plans to roll out a new vehicle will boost revenue from exports.
Top Energy Stocks To Buy Right Now: Sanchez Energy Corp (SN)
Sanchez Energy Corporation, incorporated on August 22, 2011, is an independent exploration and production company. The Company is focused on the acquisition, exploration and development of unconventional oil and natural gas resources onshore along the United States Gulf Coast, primarily in the Eagle Ford Shale in South Texas. The Company also has a position in the Tuscaloosa Marine Shale in Mississippi and Louisiana. As of December 31, 2012, the Company had accumulated approximately 95,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in Gonzales, Zavala, Frio, Fayette, Lavaca, Atascosa, Webb and DeWitt Counties of South Texas. The Company's Eagle Ford Shale acreage is consists of approximately 9,700 net acres in Gonzales County, Texas, which the Company refers to as its Palmetto area, approximately 28,400 net acres in Zavala and Frio Counties, Texas, which the Company refers to as its Maverick area, and approximately 57,100 net acres in Fayette, Lavac.
The Company owns all rights and depths on the majority of its Eagle Ford Shale acreage. The Company is evaluating other zones, which may present the Company with additional drilling locations. Several of the Company's existing wells are either producing from or have logged pay in the Buda Limestone and the Austin Chalk formations.
Eagle Ford Shale
The Eagle Ford Shale is one of the unconventional shale trends in North America. In the Eagle Ford Shale, the Company has assembled approximately 95,000 net acres with an average working interest of approximately 87%. Using approximately 120 acre well-spacing for the Company's Maverick and Marquis areas and approximately 80 acre well-spacing for its Palmetto area, the Company believes that there could be up to 973 gross (815 net) locations for potential future drilling on its acreage.
In the Company's Palmetto area, the Company has approximately 9,700 net acres in Gonzales County, Texas with an! average working interest of approximately 48%. The Company has participated in the drilling of 16 gross wells on its acreage that had an average initial 24-hour production rates between 502 and 3,139 barrels of oil equivalent per day . The Company has identified up to 237 gross (113 net) locations based on 80 acre well-spacing for potential future drilling in its Palmetto area. The Company is drilling a five-well pilot program from a single pad to test 40 acre well-spacing in its southern portion of the Palmetto area, and Ryder Scott has given the Company 80 acre well-spaced PUD locations in the same area in its December 31, 2012 reserve report.
In the Company's Maverick area, the Company has approximately 28,400 net operated acres in Zavala and Frio Counties, Texas with an average working interests of approximately 87%. The Company has drilled ten gross horizontal wells that had a range of average initial 24-hour production rates between 214 and 931 barrels of oil equivalent per day . The Company has also drilled four vertical wells that had average initial 24-hour rates between 94 and 264 barrels of oil equivalent per day . The Company tests the feasibility of a vertical well development program and compare horizontal and vertical completion economic returns. The Company has identified up to 264 gross (230 net) locations based on 120 acre well-spacing for potential future drilling on its Maverick acreage.
In the Company's Marquis area, the Company has approximately 57,100 net operated acres, the majority of which are in southwest Fayette and northeast Lavaca Counties, Texas with a 100% working interest. The Company has drilled three horizontal wells that had a range of average initial 24-hour production rates between 1,114 and 1,369 barrels of oil equivalent per day . The Company has identified up to 472 gross and net locations based on 120 acre well-spacing for potential future drilling on its Marquis acreage. The Company is also drilling a 60 acre well-spacing test in the! western ! Prost area of its Marquis area.
Other
The Company has approximately 1,000 net acres in the Haynesville Shale in Natchitoches Parish, Louisiana, which are operated by Chesapeake Energy Corporation. The majority of the Company's Haynesville leases are held by production, giving the Company and its partners the option to accelerate drilling should natural gas prices increase.
The Company competes with Chesapeake Energy Corporation, Marathon Oil Corporation, EOG Resources, Inc., Halcon Resources Corporation, Penn Virginia Corporation and Magnum Hunter Resources Corporation.
Advisors' Opinion:- [By Tom Armistead]
We're attracted to opportunities like Sanchez Energy Corp. (SN) and Bellatrix Exploration Ltd. (TSX:BXE).
Sanchez went public just a couple years ago. It had a decent-sized position in the Eagle Ford, which it has grown to over 125,000 acres��retty sizeable for a small-cap. Sanchez was producing 600 barrels of oil equivalent per day (600 boe/d); now it's over 12,000 boe/d and should be around 15,000-17,000 by the end of the year.
Top Energy Stocks To Buy Right Now: Petroleo Brasileiro S.A.- Petrobras(PBR)
Petroleo Brasileiro S.A. primarily engages in oil and natural gas exploration and production, refining, trade, and transportation businesses. The company?s Exploration and Production segment involves in the exploration, production, development, and production of oil, liquefied natural gas (LNG), and natural gas in Brazil. This segment supplies its products to the refineries in Brazil, as well as sells surplus petroleum and byproducts in domestic and foreign markets. Its Supply segment engages in the refining, logistics, transportation, and trade of oil and oil products; export of ethanol; and extraction and processing of schist, as well as holds interests in companies of the petrochemical sector in Brazil. The Gas and Energy segment involves in the transportation and trade of natural gas produced in or imported into Brazil; transportation and trade of LNG; and generation and trade of electric power. In addition, the segment has interests in natural gas transportation and d istribution companies; and thermoelectric power stations in Brazil, as well engages in fertilizer business. The Distribution segment distributes oil products, ethanol, and compressed natural gas in Brazil. The International segment involves in the exploration and production of oil and gas, as well as in supplying, gas and energy, and distribution operations in the Americas, Africa, Europe, and Asia. Further, the company involves in biofuel production business. Petroleo Brasileiro was founded in 1953 and is based in Rio de Janeiro, Brazil.
Advisors' Opinion:- [By Stephan Dube]
Petrobras SA (NYSE: PBR ) �currently produces above 300,000 barrels of oil equivalent per day, 43% in the Santos basin and 57% in the Campos basin. Petrobras achieved this level of production with only 17 wells in pre-salt basins located in offshore Brazil. Furthermore, about 96% of its total production is achieved in Brazil, and the company currently has 69 floating rigs for well construction and maintenance in the country.
Petrobras holds world-class assets with tremendous potential that will boost its operating income in the coming years. From January 2012 to February 2013, a hefty 53 discoveries were made of which 25 were offshore, including 15 in pre-salt basins. According to the producer, production of more than one million barrels per day should be reached by 2017, and over 2.1 Mmbbls/d could be reached by 2020 for its pre-salt assets. - [By Aimee Duffy]
Transocean is as good a bellwether as any, given it's the world's largest offshore driller. The company's most recent fleet status report shows that a number of rigs that were idle are now booked for work. Seadrill (NYSE: SDRL ) is no slouch either, with its fleet of 61 drillships and rigs. It just inked a massive $2.7 billion contract with Brazil's state-owned oil company, Petrobras (NYSE: PBR ) .
- [By Selena Maranjian]
Brazilian oil giant Petrobras (NYSE: PBR ) plunged 37%, burdened by significant debt. Bulls have been heartened by rising production numbers as some offshore rigs are brought back into service, and some are hopeful that solid car sales in Brazil will boost Petrobras' business. But others point out the Brazilian government's heavy influence on the company's fortunes.
- [By Selena Maranjian]
The biggest new holdings are Chevron�and Salesforce.com. Other new holdings of interest include Brazilian oil giant Petrobras (NYSE: PBR ) , which has seen its stock fall over the past few years. The company is weighed down by a lot of debt, but there are also promising signs from it, such as rising production numbers as some offshore rigs are brought back into service. Some are hopeful that solid car sales in Brazil will boost Petrobras' business.
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