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Want a Diversified Portfolio of Energy Names? Look Outside the U.S. Exchanges


Want a Diversified Portfolio of Energy Names? Look Outside the U.S. Exchanges
But you ll be dealing with exchange rates, local elections, and all manner of other externalities.
May 28, 2021 | 01:00 PM EDT
As Exxon Mobil (XOM) shares slide again today, albeit only fractionally, one has to wonder what activist hedge fund Engine No. 1 thinks it has accomplished. The value of its massive 0.02% stake in XOM has declined since it won election of two of its slate of candidates to Exxon s 12-member Board. One Engine No. 1 candidate lost and the third seat is still apparently too close to call. With self-styled activist Jeff Ubben already on Exxon s board, that means that, at most, the woke contingent on Exxon s Board of Directors is four out of 12 seats. My guess is that it actually ends up being 3 out of 12 when the proxy solicitation firm is finished reporting results next week. ....

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Nordic American Tankers: Q1 Earnings Snapshot


Nordic American Tankers: Q1 Earnings Snapshot
May 27, 2021
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HAMILTON, Bermuda (AP) Nordic American Tankers Ltd. (NAT) on Wednesday reported a first-quarter loss of $25 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 16 cents.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 16 cents per share.
The tanker company posted revenue of $18.8 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $20.5 million.
The company s shares closed at $3.54. A year ago, they were trading at $4.76. ....

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