CHICAGO, May 10, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Exxon Mobil Corporation (NYSE: XOM), Statoil ASA (NYSE: STO), Chevron Corporation (NYSE: CVX), Braskem S.A. (NYSE: BAK) and Cubist Pharmaceuticals, Inc. (Nasdaq: CBST).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday's Analyst Blog:
Exxon to Expand Julia Oil Field
Energy giant, Exxon Mobil Corporation (NYSE: XOM) started the development of the Julia oil field in the Gulf of Mexico. Per company estimates this would bore a hole of over $4 billion in capital costs. The Julia field, which was discovered in 2007, is expected to contain reserves of approximately 6 million barrels.
The company expects to start production at the oil field in 2016. Exxon is targeting to start with daily production of 34,000 barrels of oil. To speed up things the company has already completed the project front end engineering design of the project. It has also placed the requisite engineering, procurement and construction contracts.
The Julia field has five leases in the ultra-deepwater Walker Ridge area of the Gulf of Mexico, which is 265 miles southwest of New Orleans. The resource is located 30,000 feet below the surface of the ocean. The ownership of the Julia unit is equally shared between the operator, ExxonMobil and Statoil ASA (NYSE: STO). The oil field includes six wells with subsea tie-backs to Chevron Corporation's (NYSE: CVX) production facility Jack & St. Malo.
Exxon Mobil is the world's largest publicly-traded oil company, engaged in oil and natural gas exploration and production, petroleum products refining and marketing, chemicals manufacture, and other energy-related businesses. Approximately 83% of Exxon Mobil's earnings come from its operations outside the U.S.
Exxon Mobil is one of the world's best-run integrated oil company given its track record of superior returns on the capital employed. The energy giant has long been a core holding for investors seeking a defensive name with continued dividend growth. Exxon Mobil is fairly active in its investment program. The company plans to spend about $185 billion over the next five years, up 29% from the last five-year period.
The capital expenditure covers as many as 21 important oil and gas projects currently under the anvil and are estimated to accumulate over 1 million net oil-equivalent barrels per day by 2016. It includes the Kearl Oil Sands development project in Canada, four in West Africa and Kashagan Phase 1 in Kazakhstan. Exxon is also engaged in a large liquefied natural gas project in Papua New Guinea, which is expected to begin deliveries in 2014. It will further unearth more oil from the development of Hebron oil field offshore the Canadian province of Newfoundland and Labrador. The development will help in recovering over 700 million barrels of oil and the platform is expected to yield its first oil towards the end of 2017.
Exxon Mobil holds a Zacks Rank #3 (Hold). However, in the near term, a stock like Braskem S.A. (NYSE: BAK) with a Zacks Rank #1 is expected to outperform the market over the next few months.
Good News for Cubist Pharmaceuticals
Cubist Pharmaceuticals, Inc. (Nasdaq: CBST) recently received encouraging news when the US Food and Drug Administration (FDA) granted the company's antibiotic candidate ceftolozane/tazobactam (CXA-201) a fast track status in Qualified Infectious Disease Product (QIDP) indications, under the Generating Antibiotic Incentives Now (GAIN) Act.
The FDA granted the fast track status to CXA-201 for the Hospital-Acquired Bacterial Pneumonia (HABP)/Ventilator-Associated Bacterial Pneumonia (VABP) and Complicated Urinary Tract Infections (cUTI) indications. The US regulatory body had granted fast track status to CXA-201 for treating complicated intra-abdominal infections (cIAI) in Feb 2013.
With the FDA granting CXA-201 QIDP status for the above indications, the antibiotic qualifies for multiple benefits including a 5-year extension of Hatch-Waxman exclusivity (on approval) and priority review.
We note that the GAIN act was signed into law by the US president in Jul 2012 as part of the FDA Safety and Innovation Act (FDASIA). The signing of the GAIN Act should benefit companies pursuing the development of novel antibiotics.
We remind investors that in Feb 2013, Cubist Pharma was granted a fast track status for CXA-201 in Complicated Intra-Abdominal Infections (cIAI).
Cubist Pharma is developing CXA-201 as a potential therapy for the treatment of serious bacterial infections in the hospitals. The company is evaluating CXA-201, currently in phase III, as a potential intravenous therapy for the treatment of cIAI and cUTI.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks . As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
|SOURCE Zacks Investment Research, Inc.|
Copyright©2012 PR Newswire.
All rights reserved