January 13, 2015 |
If you're brave enough to think oil stocks have been fairly repriced, here are some ideas on how to play the sector. First, here's an exchange-traded fund that broadly represents the energy industry: Energy Select Sector SPDR (symbol: XLE). Its top holdings include ExxonMobil, Chevron, Schlumberger, ConocoPhillips, and EOG Resources. Ernie Cecilia, chief investment officer of Bryn Mawr Trust, instead is buying shares in individual low-cost producers such as EOG and ExxonMobil, he says, as the latter company "can make money with oil even at $40 a barrel.
December 16, 2014 |
Stock market corrections usually occur in anticipation of recessions, says one local money manager and investment strategist. We're not there yet, but the present U.S. economy is entering middle age. America's economic expansions "last longer than in the past, now stretching out five to eight years," said Glenmede's president and chief investment officer, Gordon Fowler. "The unemployment rate has dropped, but it's not at a level where you begin to worry. What that tells us is the U.S. economy is still growing, earnings can continue to grow, and hence the stock market can grow," Fowler added.
February 21, 2014 |
Ernie Cecilia, chief investment officer of Bryn Mawr Trust Co., says he believes stock prices will eventually have to be driven more by fundamentals than central bank stimulus, which has rocketed the market to new highs since the financial crisis. That said, what is the firm buying and selling for client portfolios? Bryn Mawr Trust, whose main office is in Bryn Mawr and now oversees $7 billion in assets, prefers "old tech" companies such as Microsoft (MSFT), which boasts a new chief executive, Satya Nadella.
August 1, 2012
The "Your Money" feature Tuesday incorrectly reported the holdings of EOG Resources. The company is leveraged 70 percent in oil and 30 percent in natural gas. The column "The Jersey Side" on Sunday incorrectly reported the hospital where the recently widowed Shayna Stoney's infant son, Seff, was treated. It was Virtua Memorial-Mount Holly. An obituary Saturday for the disc jockey Joe "Butterball" Tamburro incorrectly identified the person who hired him at WDAS-FM.
May 17, 2011 |
The Pennsylvania Department of Environmental Protection on Tuesday fined Chesapeake Energy Corp. $1.1 million for violations related to natural gas drilling activities, the largest penalty ever against a Marcellus Shale operator. Under a consent order, Chesapeake will pay $900,000 for contaminating private water supplies in Bradford County. Under a second agreement, Chesapeake will pay $188,000 for a Feb. 23 tank fire at its drilling site in Avella, Washington County. Chesapeake is the largest operator working in Pennsylvania's Marcellus Shale, a gas-rich formation that has triggered a bonanza of drilling activity in the last three years.
August 7, 2010 |
EOG Resources Inc., the natural gas company that state environmental officials rebuked last month over a runaway well in Clearfield County, is unloading nearly a quarter of its Marcellus Shale acreage in Pennsylvania. The Houston company disclosed to investors Friday that it has put 180,000 acres of oil and gas acreage in Texas, Louisiana, and Pennsylvania up for sale. The offering includes 51,000 acres in Bradford County, the most active area in northern Pennsylvania for Marcellus drilling.
July 18, 2010
Hefty fines were justified for the blowout of a Pennsylvania natural-gas well, but the state must do more to prevent pollution by drillers. The Department of Environmental Protection fined EOG Resources Inc. and a subcontractor $400,000 for the accident June 3 in Clearfield County that spewed natural gas, toxic chemicals, and brine for 16 hours. It's the largest penalty imposed for pollution by the state's burgeoning Marcellus Shale gas industry. DEP Secretary John Hanger correctly noted that carelessness by the drilling firms could have led to far worse consequences.
July 14, 2010 |
HARRISBURG - In the heftiest fine levied thus far against a Marcellus Shale natural-gas driller, state environmental officials socked a Texas company Tuesday with a $400,000 penalty for failures that caused last month's well blowout in central Pennsylvania. John Hanger, secretary of the Pennsylvania Department of Environmental Protection (DEP), sharply rebuked EOG Resources Inc. for failing to maintain control of the Clearfield County well, which erupted June 3 and spewed natural gas and toxic wastewater for 16 hours before it could be capped.
July 13, 2010 |
HARRISBURG - Untrained employees of a natural-gas drilling company failed to provide sufficient controls on a Marcellus Shale well that blew out last month, and Pennsylvania environmental officials today fined the operators $400,000. John Hanger, secretary of the Pennsylvania Department of Environmental Protection, said EOG Resources Inc. and a contractor, C.C. Forbes L.L.C., had failed to follow the best industry practices at the well in Clearfield County, which erupted June 3 and spewed natural gas and toxic wastewater for 16 hours before it could be capped.
July 1, 2010 |
Pennsylvania environmental regulators have issued nearly 565 citations against Marcellus Shale natural gas operators so far this year - about twice last year's pace. Five companies were responsible for half the violations, and nearly three-quarters of them occurred in five north-central Pennsylvania counties where shale-gas drilling is most intensely concentrated, according to a report by the Department of Environmental Protection sent Wednesday to the state Senate's Environmental Resources and Energy Committee.