Core Laboratories 株価情報 (NYSE: CLB)

最新ニュース Core Laboratories (NYSE:CLB) 株価情報

Core Laboratories

Core Laboratories Inc provides reservoir description and production enhancement services for oil and gas exploration and production. It provides data and analytics to aid well operators in determining optimal methods for recovering, processing, and refining hydrocarbons from a well. It also manufactures the associated lab equipment for its services.

Core Laboratories Inc

CALBEE Inc

Columbia Financial Inc

CALIBER ENERGY INC by Caliber Energy, Inc.

Colombier Acquisition Corp. II Class A Ordinary Shares

Colombier Acquisition Corp II

Colombier Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant

Colombier Acquisition Corp. II Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share

Cellebrite DI Ltd

Citigroup analyst Scott Gruber maintains Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) with a Sell and raises the price target from $14 to $15.

News

Price Target

Analyst Ratings

Citigroup Maintains Sell on Core Laboratories, Raises Price Target to $15

Core expects to continue generating positive FCF in future quarters.&nbsp;

Guidance

Core Laboratories Expects Q1 Revenue Of $121M - $127M (Est $129.237M), EPS Of $0.12 - $0.16 (Est $0.23)

Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) reported quarterly earnings of $0.22 per share which met the analyst consensus estimate. This is a 15.79 percent increase over earnings of $0.19 per share from the same period last year. The company reported quarterly sales of $129.24 million which missed the analyst consensus estimate of $132.44 million by 2.42 percent. This is a 0.80 percent increase over sales of $128.21 million the same period last year.

Earnings

Earnings Misses

Core Laboratories Q4 2024 Adj EPS $0.22, Inline, Sales $129.24M Miss $132.44M Estimate

Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) just disclosed its Q4 earnings on Wednesday, January 29, 2025 at 04:46 PM.
Here's a brief overview of the earnings report.
<h3>Earnings</h3>
Core Laboratories missed estimated earnings by 0.0%, reporting an EPS of $0.22 versus an estimate of $0.22.
Revenue was up $1.03 million from the same period last year.
<h3>Historical Earnings Summary</h3>
The company beat on EPS by $0.02 in the last quarter, resulting in a 11.0% increase share price change the following day.
Here's a look at Core Laboratories's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.23</td>
<td>0.21</td>
<td>0.16</td>
<td>0.19</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.25</td>
<td>0.22</td>
<td>0.19</td>
<td>0.19</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>134.45M</td>
<td>131.84M</td>
<td>124.44M</td>
<td>127.77M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>134.40M</td>
<td>130.58M</td>
<td>129.64M</td>
<td>128.21M</td>
</tr>
</tbody>
</table>

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Guidance</h3>
Core Laboratories management provided guidance for Q1 2025, expecting earnings between $0.12 and $0.16 per share.
To track all earnings releases for Core Laboratories <a href="https://www.benzinga.com/quote/CLB/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Core Laboratories Q4 Earnings

<h3>Companies Reporting Before The Bell</h3>
• Stifel Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SF#NYSE">SF</a>) is likely to report quarterly earnings at $1.97 per share on revenue of $1.28 billion. 
• Virtu Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $385.34 million. 
• Otis Worldwide (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OTIS#NYSE">OTIS</a>) is likely to report quarterly earnings at $0.96 per share on revenue of $3.63 billion. 
• Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $4.12 billion. 
• Wabash National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) is expected to report quarterly earnings at $0.03 per share on revenue of $412.92 million. 
• Flex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) is likely to report quarterly earnings at $0.63 per share on revenue of $6.20 billion. 
• Southside Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBSI#NYSE">SBSI</a>) is projected to report quarterly earnings at $0.71 per share on revenue of $68.12 million. 
• MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is estimated to report quarterly earnings at $3.96 per share on revenue of $747.63 million. 
• Hess Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HESM#NYSE">HESM</a>) is estimated to report quarterly earnings at $0.75 per share on revenue of $388.90 million. 
• Monro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNRO#NASDAQ">MNRO</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $311.88 million. 
• Central Pacific Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPF#NYSE">CPF</a>) is estimated to report quarterly earnings at $0.62 per share on revenue of $67.00 million. 
• Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) is likely to report quarterly earnings at $4.00 per share on revenue of $575.21 million. 
• Blue Foundry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLFY#NASDAQ">BLFY</a>) is likely to report quarterly loss at $0.17 per share on revenue of $10.02 million. 
• Avnet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) is estimated to report quarterly earnings at $0.88 per share on revenue of $5.56 billion. 
• Coda Octopus Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CODA#NASDAQ">CODA</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $5.27 million. 
• Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) is likely to report quarterly earnings at $2.97 per share on revenue of $3.03 billion. 
• Extreme Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXTR#NASDAQ">EXTR</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $278.05 million. 
• Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) is estimated to report quarterly earnings at $9.09 per share on revenue of $5.21 billion. 
• Brinker International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $1.12 billion. 
• Silgan Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLGN#NYSE">SLGN</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $1.40 billion. 
• VF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $2.75 billion. 
• Hess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) is expected to report quarterly earnings at $1.50 per share on revenue of $3.05 billion. 
• Navient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) is projected to report quarterly earnings at $0.26 per share on revenue of $136.80 million. 
• Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) is expected to report quarterly earnings at $0.75 per share on revenue of $1.22 billion. 
• CGI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIB#NYSE">GIB</a>) is likely to report quarterly earnings at $1.40 per share on revenue of $2.64 billion. 
• Prosperity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>) is expected to report quarterly earnings at $1.33 per share on revenue of $303.21 million. 
• Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) is expected to report quarterly earnings at $3.56 per share on revenue of $18.76 billion. 
• General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) is expected to report quarterly earnings at $4.23 per share on revenue of $13.21 billion. 
• Applied Industrial Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>) is expected to report quarterly earnings at $2.21 per share on revenue of $1.08 billion. 
• T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) is projected to report quarterly earnings at $2.30 per share on revenue of $21.37 billion. 
• Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $3.76 billion. 
• Lennox Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LII#NYSE">LII</a>) is expected to report quarterly earnings at $4.14 per share on revenue of $1.23 billion. 
• M/I Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) is likely to report quarterly earnings at $4.83 per share on revenue of $1.17 billion. 
• Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is projected to report quarterly earnings at $2.15 per share on revenue of $6.39 billion. 
• Scotts Miracle Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) is likely to report quarterly loss at $1.23 per share on revenue of $392.29 million. 
• Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) is expected to report quarterly earnings at $2.30 per share on revenue of $4.97 billion. 
• ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) is expected to report quarterly earnings at $6.71 per share on revenue of $9.02 billion. 
<h3>Companies Reporting After The Bell</h3>
• Whirlpool (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) is likely to report quarterly earnings at $4.31 per share on revenue of $4.23 billion. 
• Las Vegas Sands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) is estimated to report quarterly earnings at $0.58 per share on revenue of $2.91 billion. 
• John B Sanfilippo &amp; Son (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBSS#NASDAQ">JBSS</a>) is likely to report earnings for its second quarter. 
• Wolfspeed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) is projected to report quarterly loss at $1.00 per share on revenue of $179.89 million. 
• Robert Half (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHI#NYSE">RHI</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $1.39 billion. 
• Bassett Furniture Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSET#NASDAQ">BSET</a>) is projected to report quarterly loss at $0.01 per share on revenue of $82.97 million. 
• Two Harbors Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWO#NYSE">TWO</a>) is estimated to report quarterly earnings at $0.37 per share on revenue of $-21 million. 
• Tetra Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $1.10 billion. 
• Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is projected to report quarterly earnings at $0.76 per share on revenue of $27.12 billion. 
• Teradyne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) is estimated to report quarterly earnings at $0.91 per share on revenue of $740.91 million. 
• Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) is estimated to report quarterly earnings at $0.58 per share on revenue of $48.36 million. 
• Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) is estimated to report quarterly earnings at $1.79 per share on revenue of $5.90 billion. 
• Meritage Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) is likely to report quarterly earnings at $1.10 per share on revenue of $1.57 billion. 
• Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) is projected to report quarterly earnings at $1.84 per share on revenue of $4.26 billion. 
• First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $251.46 million. 
• Benchmark Electronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHE#NYSE">BHE</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $660.00 million. 
• United Rentals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) is likely to report quarterly earnings at $11.71 per share on revenue of $3.94 billion. 
• Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) is estimated to report quarterly earnings at $1.34 per share on revenue of $1.20 billion. 
• Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) is estimated to report quarterly earnings at $0.88 per share on revenue of $4.32 billion. 
• High Tide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $99.08 million. 
• Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is expected to report quarterly earnings at $3.12 per share on revenue of $68.86 billion. 
• Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) is expected to report quarterly earnings at $0.15 per share on revenue of $994.31 million. 
• Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) is expected to report quarterly earnings at $1.07 per share on revenue of $994.61 million. 
• Annaly Capital Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLY#NYSE">NLY</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $1.26 billion. 
• Hawkins (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWKN#NASDAQ">HWKN</a>) is expected to report quarterly earnings at $0.92 per share on revenue of $219.22 million. 
• Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $1.73 billion. 
• Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) is likely to report quarterly earnings at $9.19 per share on revenue of $4.47 billion. 
• Ethan Allen Interiors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $160.60 million. 
• Selective Insurance Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGI#NASDAQ">SIGI</a>) is estimated to report quarterly earnings at $2.01 per share on revenue of $1.27 billion. 
• ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) is projected to report quarterly earnings at $3.65 per share on revenue of $2.96 billion. 
• SEI Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEIC#NASDAQ">SEIC</a>) is likely to report quarterly earnings at $1.20 per share on revenue of $555.43 million. 
• Dolby Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLB#NYSE">DLB</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $346.15 million. 
• Celestica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $2.51 billion. 
• Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is projected to report quarterly earnings at $6.73 per share on revenue of $46.98 billion. 
• Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) is expected to report quarterly earnings at $2.66 per share on revenue of $3.47 billion. 
• National Fuel Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NFG#NYSE">NFG</a>) is estimated to report quarterly earnings at $1.53 per share on revenue of $615.17 million. 
• MaxLinear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NASDAQ">MXL</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $90.00 million. 
• Brookline Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) is likely to report quarterly earnings at $0.24 per share on revenue of $90.68 million. 
• Canadian Pacific Kansas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) is estimated to report quarterly earnings at $1.27 per share on revenue of $3.96 billion. 
• IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) is likely to report quarterly earnings at $3.79 per share on revenue of $17.60 billion. 
• Bridgewater Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>) is expected to report quarterly earnings at $0.24 per share on revenue of $27.65 million. 
• Axis Capital Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXS#NYSE">AXS</a>) is estimated to report quarterly earnings at $2.53 per share on revenue of $1.33 billion. 
• C.H. Robinson Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $4.43 billion. 
• Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $133.59 million. 
• Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $203.91 million. 
• Cimpress (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPR#NASDAQ">CMPR</a>) is projected to report quarterly earnings at $2.38 per share on revenue of $968.96 million. 
• Century Communities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>) is projected to report quarterly earnings at $3.18 per share on revenue of $1.28 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ASML

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BSET

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HITI

HWKN

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LEVI

LRCX

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MEOH

MNRO

MSCI

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WOLF

Earnings Scheduled For January 29, 2025

U.S. stock futures were mixed this morning, with the Dow futures falling around 0.2% on Monday.
Shares of Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell sharply in today's pre-market trading after a US jury reportedly found Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) did not breach Nuvia&#8217;s license agreement <a href="https://www.benzinga.com/quote/ARM">with the company</a>.
Arm Holdings shares fell 2.3% to $129.14 in the pre-market trading session.
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<li>Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) shares dipped 11% to $15.00 in pre-market trading.</li>
<li>Astria Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXS#NASDAQ">ATXS</a>) shares declined 10.8% to $8.53 in pre-market trading.</li>
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<li>Dnow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNOW#NYSE">DNOW</a>) fell 7.7% to $11.90 in pre-market trading.</li>
<li>DiamondRock Hospitality Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRH#NYSE">DRH</a>) fell 4.3% to $8.92 in pre-market trading.</li>
<li>NI Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NODK#NASDAQ">NODK</a>) fell 3.8% to $14.73 in pre-market trading.</li>
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Arm Holdings And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Shares of Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) rose sharply in today's pre-market trading after the company announced it has entered into a definitive agreement for a strategic <a href="https://www.benzinga.com/24/12/42634166/rumble-stock-soars-on-775-million-investment-from-tether-what-to-know">investment of $775 million from Tether</a>.
Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has agreed to purchase 103.33 million shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble.
Rumble shares jumped 43.3% to $10.31 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) gained 234% to $4.01 in pre-market trading.</li>
<li>Phio Pharmaceuticals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHIO#NASDAQ">PHIO</a>) gained 88.6% to $3.32 in pre-market trading. Phio Pharmaceuticals, last week, announced a $1.15 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) climbed 82.3% to $0.4334 in pre-market trading after surging 63% on Friday. Edible Garden recently announced it experienced a 51% year-over-year increase in its preliminary Thanksgiving period sales.</li>
<li>JIADE Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) gained 60.9% to $0.8530 in pre-market trading. JIADE received Nasdaq notification letter regarding minimum bid price deficiency.</li>
<li>American Battery Technology Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) rose 44.1% to $1.60 in pre-market trading. On Friday, American Battery Technology priced its $5 million registered direct offering of 5 million shares at $1.00 per share.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 30.9% to $3.60 in pre-market trading after jumping more than 36% on Friday.</li>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) rose 28.8% to $0.9700 in pre-market trading after the company was awarded ISO/IEC 27001:2022 certification.</li>
<li>Honda Motor Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) gained 18% to $28.19 in pre-market trading. Honda Motor and Nissan Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) have started talks for a potential merger.</li>
<li>Kodiak Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOD#NASDAQ">KOD</a>) rose 14.9% to $9.94 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) shares tumbled 28.9% to $0.0531 in pre-market trading after jumping 14% on Friday. Conduit Pharmaceuticals recently announced it entered an agreement with Sarborg to leverage AI and its cybernetics platform to evaluate key deliverables across multiple areas of operations.</li>
<li>Helius Medical Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) declined 25.7% to $0.6759 in pre-market trading after jumping around 101% on Friday.</li>
<li>Onfolio Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) fell 24.4% to $1.21 in pre-market trading. Onfolio Holdings announced a quarterly preferred stock cash dividend of 75 cents per share.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) shares fell 24.3% to $0.6703 in pre-market trading after declining 9% on Friday.</li>
<li>ConnectM Technology Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) shares dipped 20% to $0.83 in pre-market trading after falling 8% on Friday. ConnectM Technology Solutions, last week, announced a year-over-year increase in third-quarter revenue results.</li>
<li>TPI Composites, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPIC#NASDAQ">TPIC</a>) fell 19.2% to $1.94 in today's pre-market trading after jumping 97% on Friday.</li>
<li>Aptose Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APTO#NASDAQ">APTO</a>) dipped 17.8% to $0.2293 in pre-market trading after jumping 64% on Friday. Aptose Biosciences, last week, announced it was granted an extension to provide compliance evidence for a continued Nasdaq listing.</li>
<li>Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) fell 11% to $15.00 in pre-market trading.</li>
<li>Astria Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXS#NASDAQ">ATXS</a>) shares fell 10.8% to $8.53 in pre-market trading.</li>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) fell 8.5% to $5.41 in pre-market trading.</li>
</ul>
Now Read This: &lt;a href=&#8221;https://www.benzinga.com/news/earnings/24/04/38307448/investor-sentiment-decreases-further-s-p-500-falls-for-fourth-straight-session&#8221;&gt;&lt;em&gt; Investor Sentiment Decreases Further, S&amp;P 500 Falls For Fourth Straight Session&lt;/em&gt;&lt;/a&gt;

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Why Rumble Shares Are Trading Higher By Around 43%; Here Are 20 Stocks Moving Premarket

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Shares of oil and fossil fuel companies are trading higher following the US presidential election. Investors may be weighing the potential impact of Donald Trump's energy policies on the sector.

Citigroup analyst Scott Gruber maintains Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) with a Sell and lowers the price target from $15 to $14.

Citigroup Maintains Sell on Core Laboratories, Lowers Price Target to $14

Core Laboratories shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results.

Core Laboratories Expects Q4 Revenue Of $128.50M - $135.50M, EPS Of $0.20 - $0.25

Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $0.23 by 8.7 percent. The company reported quarterly sales of $134.40 million which missed the analyst consensus estimate of $134.46 million by 0.04 percent. This is a 7.22 percent increase over sales of $125.34 million the same period last year.

Earnings Beats

Core Laboratories Q3 2024 Adj EPS $0.25 Beats $0.23 Estimate, Sales $134.40M Miss $134.46M Estimate

Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>), an&nbsp;oil and gas company of Brazil, is close to reaching an agreement with Brazil&#39;s regulators that will enable the company to start redeveloping the large Tupi oil field, a significant asset in the country&#39;s energy landscape. This redevelopment initiative is expected to not only boost Petrobras&#39; production capabilities but also reinvigorate Brazil&#39;s oil output, which has faced stagnation in recent years.
<h2>Resolving the Tax Dispute: A Critical Step</h2>
One of the most pressing issues for Petrobras is the long-standing tax dispute with Brazil&#39;s National Agency of Petroleum, Natural Gas and Biofuels (ANP). According to Sylvia dos Anjos, the head of exploration and production at Petrobras, the company anticipates that this dispute will be resolved by the end of 2024. Successfully settling this issue is crucial for Petrobras to extend its operating contract for Tupi, potentially for another 27 years, allowing for a more extensive and profitable development plan.
The heart of the conflict lies in the interpretation of tax regulations pertaining to oil fields. Petrobras argues that Tupi consists two distinct deposits &mdash;Tupi and Cernambi. Under the ANP&#39;s maintenance these are a single entity. This interpretation affects the tax rate applicable to Petrobras, with larger fields incurring higher taxes. The ongoing arbitration proceedings may soon give way to negotiations, as both parties appear ready to find common ground.
<h2>Strategic Redevelopment Plans for Tupi</h2>
With the potential resolution of the tax dispute, Petrobras is poised to embark on ambitious plans to drill new wells and conduct seismic research at the Tupi oil field. The company is also contemplating the addition of another floating production unit, a significant investment that can cost more than $4 billion and take several years to construct. This move would significantly enhance Petrobras&#39; ability to extract oil from Tupi, which is essential for addressing the natural decline in production rates.
Cesar Cunha de Souza, Petrobras&#39; executive manager for ultra-deep waters, indicated that the start date for this new production unit will be defined in the company&#39;s next strategic plan. The goal is to maximize output from Tupi through infill drilling campaigns, which are designed to improve extraction rates from a field that has been in production for over a decade.
<h2>Economic Significance of Tupi</h2>
The Tupi oil field is a cornerstone of Petrobras&#39; operations and Brazil&#39;s economy. In the early 2010s, Tupi propelled Brazil into the ranks of the world&#39;s top ten oil producers, generating substantial tax revenues that have been crucial for the national economy. It has been a driving force behind exploration in the pre-salt region, a hotbed for international oil investments.
In 2023, Tupi outperformed oil production from several countries, including Colombia, Venezuela, the United Kingdom and Argentina. This achievement underscores the field&#39;s significance not only for Petrobras but for Brazil&#39;s energy independence and economic stability.
<h2>Challenges and Comparisons in Global Oil Production</h2>
Despite the positive outlook for Tupi, Petrobras faces challenges similar to those experienced by other oil-producing nations. For instance, Mexico&#39;s oil output has dramatically declined since the peak of the Cantarell field in the 2000s, significantly impacting government revenues. Anjos emphasized the necessity of intensifying efforts to extract more from Tupi, stating, &quot;We&#39;re going to carry out a process to get much more out of Tupi. It&#39;s a giant field.&quot;
The ongoing global demand for oil makes it imperative for Petrobras to arrest the decline in production effectively. The company is committed to exploring new methodologies and technologies that can enhance extraction and efficiency, ensuring that Tupi remains a vital contributor to Brazil&#39;s energy portfolio.
<h2>Production Metrics and PBR&#39;s Projections</h2>
Recent data reveals that Tupi has maintained an impressive output, producing an average of 764,000 barrels of oil per day in the first eight months of 2024. This output not only surpasses that of Buzios, another field where Petrobras is expanding production but also highlights Tupi&#39;s continued importance in Brazil&#39;s energy strategy. In August, daily crude output returned to last year&#39;s level, reaching 830,000 barrels per day following the conclusion of planned maintenance on a key platform.
Such metrics indicate that with the right investments and strategies in place, Tupi could enhance its production capabilities even further, reinforcing Petrobras&#39; position as a leader in the oil industry.
<h2>Future of Petrobras and the Tupi Oil Field</h2>
As Petrobras navigates the complexities of its tax dispute with the ANP, the company&#39;s focus on the Tupi oil field exemplifies its broader strategy to secure and expand Brazil&#39;s energy resources. The outcome of these negotiations will significantly influence the future trajectory of the company and its ability to innovate and adapt to an ever-changing global oil landscape.
Overall, the redevelopment of Tupi is not just a crucial step for Petrobras. It is a significant chapter in Brazil&#39;s quest for energy security and economic growth. The company&#39;s commitment to resolving its tax issues and investing in new technology positions PBR to capitalize on one of the most important oil fields in the world, ensuring that Brazil remains a key player in the global energy market.
<h2>PBR&#39;s Zacks Rank &amp; Key Picks</h2>
Currently, PBR has a Zacks Rank of #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Targa Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trgp#NYSE">TRGP</a>) and Archrock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aroc#NYSE">AROC</a>), each sporting a Zacks Rank #1 (Strong Buy), and Core Laboratories Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>), carrying a Zacks Rank #2 (Buy) at present.
Targa Resources is valued at $34.62 billion. In the past year, its shares have risen 90%. TRGP is a leading provider of midstream energy infrastructure services in the United States. It offers a wide range of services, including gathering, processing, transportation, storage and marketing of natural gas and natural gas liquids.
Houston-based Archrock is valued at $3.68 billion. The oil and gas exploration and production company currently pays a dividend of 66 cents per share, or 3.03%, on an annual basis. AROC, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services.
Core Laboratories is valued at $929.82 million. The company currently pays a dividend of 4 cents per share, or 0.2%, on an annual basis. CLB is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to oil and gas companies.
<a href="https://www.zacks.com/stock/news/2347049/petrobras-to-close-final-deal-for-redeveloping-the-tupi-oil-field?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2347049">To read this article on Zacks.com click here.</a>

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Petrobras to Close Final Deal for Redeveloping the Tupi Oil Field

BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>), a leading UK-based energy company, has announced plans to sell its onshore wind business in the United States. This marks a strategic shift as the energy giant refocuses on its solar partnership and other renewable energy sources. The move, which came amid challenges in the wind sector, signals BP&#39;s shift from certain renewables despite previous efforts to diversify its energy portfolio.
<h2>BP to Exit Onshore Wind</h2>
The company revealed its intention to sell BP Wind Energy, which holds interests in 10 onshore wind projects across seven U.S. states, with a combined generating capacity of 1.3 gigawatts (GW). BP cited the misalignment of the business with its future growth strategies as the primary reason behind the sale. William Lin, BP&#39;s executive vice president for gas and low-carbon energy, stated that the wind business &quot;is likely to be of greater value for another owner.&quot;
The onshore wind sector has encountered significant challenges of late, including high material costs, rising interest rates and supply-chain issues. Several companies in the sector have been compelled to cancel or renegotiate contracts, laying pressure on BP&#39;s wind assets.
<h2>Focus Shifts to Lightsource BP Solar Partnership</h2>
In contrast to its wind energy divestment, BP is increasing its solar efforts. The company recently announced plans to take full ownership of Lightsource BP, Europe&#39;s largest solar developer. This move aligns with BP&#39;s broader strategy to concentrate on its solar partnership, which it considers to be on par with its current growth objectives.
The wind business sale marks a pivotal moment for BP as it realigns its energy transition strategy, pivoting away from wind energy to enhance its core oil and gas operations and focus on certain renewable sectors.
<h2>BP&#39;s Zacks Rank &amp; Key Picks</h2>
BP currently carries a Zack Rank #5 (Strong Sell).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like TechnipFMC plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fti#NYSE">FTI</a>), Core Laboratories Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>) and VAALCO Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>), each carrying a Zacks Rank #2 (Buy) at present.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry, with a focus on the subsea segment in offshore basins worldwide. FTI&#39;s growing backlog ensures strong revenue visibility and supports margin improvements.
The Zacks Consensus Estimate for FTI&#39;s 2024 EPS is pegged at $1.34. The company has a Zacks Style Score of B for Value and A for Growth. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB&#39;s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB&#39;s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
The Zacks Consensus Estimate for EGY&#39;s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2337002/bp-plans-to-sell-u-s-onshore-wind-division-amid-strategic-shift?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2337002">To read this article on Zacks.com click here.</a>

BP Plans to Sell U.S. Onshore Wind Division Amid Strategic Shift

BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>), a leading UK-based energy company, has enlisted American Bureau of Shipping (&quot;ABS&quot;) for a range of services related to the floating production unit (FPU) for its Kaskida development in the U.S. Gulf of Mexico. This marks BP&#39;s sixth-operated deepwater project in the region, located in a high-margin basin. ABS will provide classification and engineering verification services for the new semi-submersible FPU, a key component in BP&#39;s growing Gulf of Mexico portfolio.
<h2>ABS&#39; Role in BP&#39;s Kaskida Development</h2>
ABS, known for its expertise in offshore exploration, will support the project with its engineering review, verification and inspection services. It will act as the certified verification agent for the U.S. Bureau of Safety and Environmental Enforcement. ABS will also serve as the independent third-party verifier for high-pressure, high-temperature subsea equipment. Miguel Hernandez, ABS&#39; senior vice president, highlighted its decades of experience in working with complex semisubmersible production platforms, particularly in the Gulf of Mexico.
In addition, it will collaborate with the United States Coast Guard to oversee the design, construction, installation and equipment for BP&#39;s Kaskida FPU.
<h2>Engineering for BP&#39;s Kaskida FPU Underway</h2>
BP has already engaged multiple firms for the engineering and design work on the FPU. Audubon Engineering is handling the topside design, while Exmar Offshore is responsible for the hull, with both contracts awarded in August 2024. The Kaskida project is expected to begin production by 2029, with the FPU capable of producing 80,000 barrels of crude oil per day from six wells in the first phase.
The Kaskida project, located approximately 250 miles southwest of New Orleans in the Keathley Canyon area, is set to unlock 275 million barrels of oil equivalent in recoverable resources. The project is part of BP&#39;s larger plan to develop 10 billion barrels of discovered resources in the Kaskida and Tiber catchment areas.
<h2>BP&#39;s Kaskida Project to Feature High-Pressure Technology</h2>
BP&#39;s Kaskida development will be the first in the Gulf of Mexico to utilize well equipment with a pressure rating of up to 20,000 pounds per square inch. This cutting-edge technology is essential for tapping deepwater reservoirs at 34,000 feet below sea level.
The involvement of ABS in this ambitious project highlights its critical role in ensuring the successful delivery of BP&#39;s largest energy development in the United States to date.
<h2>BP&#39;s Zacks Rank &amp; Key Picks</h2>
BP currently carries a Zack Rank #5 (Strong Sell).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like MPLX LP, Core Laboratories Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>) and VAALCO Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>). While MPLX currently sports a Zacks Rank #1 (Strong Buy), Core Laboratories and VAALCO Energy carry a Zacks Rank #2 (Buy) each.
MPLX derives stable fee-based revenues from long-term contracts, with minimal exposure to commodity-price fluctuations. The partnership&#39;s robust capital expenditure forecast for 2024, along with significant expansion initiatives, underscores its commitment to sustainable growth.
The Zacks Consensus Estimate for MPLX&#39;s 2024 EPS is pegged at $4.29. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB&#39;s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB&#39;s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
The Zacks Consensus Estimate for EGY&#39;s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2336319/bp-taps-abs-for-key-kaskida-fpu-services-in-the-gulf-of-mexico?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2336319">To read this article on Zacks.com click here.</a>

BP Taps ABS for Key Kaskida FPU Services in the Gulf of Mexico

Eni SpA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/e#NYSE">E</a>), Italy&#39;s leading oil and gas company, is in discussions with several investment funds about selling a minority stake in its renewable and retail business, Plenitude, per a Reuters report. This potential sale would mark another step in Eni&#39;s ongoing strategy to attract specialized investors to support its energy transition efforts. Earlier this year, in March, Eni completed the sale of 7.6% of Plenitude to Energy Infrastructure Partners (&quot;EIP&quot;).
The ongoing talks between Eni and the potential investors in its low-carbon unit centered around Plentitude&#39;s approximate value of more than &euro;10 billion ($11.09 billion), the same for which EIP bought the shares of the unit early in 2024. Investors interested in acquiring a stake of around 10% in Plentitude include the U.S. asset management firm Apollo Capital Management, Norway&#39;s private equity fund HitecVision and London-based Trilantic Europe. However, both Eni and the investors involved have refused to comment publicly on these developments.
Plenitude is a key component of Eni&#39;s renewable energy efforts, generating power from renewables, providing electricity and gas services, and developing a network of charging stations for electric vehicles. The business unit is expected to attain earnings before interest, taxes, depreciation, and amortization (EBITDA) of &euro;1 billion this year, up from &euro;900 million in 2023.
This latest move aligns with Eni&#39;s &quot;satellite strategy&quot;, where it creates separate units for renewable energy and biofuels, seeking investment partners to help grow these businesses. In July, Eni entered into exclusive talks with U.S. investment firm KKR over the sale of up to 25% of its biofuel business, Enilive.
This strategic approach is aimed at driving Eni&#39;s transformation toward a sustainable energy future.
<h2>E&#39;s Zacks Rank &amp; Key Picks</h2>
E currently has a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like MPLX LP, Core Laboratories Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>) and VAALCO Energy, Inc.&nbsp;While MPLX currently sports a Zacks Rank #1 (Strong Buy), Core Laboratories and VAALCO Energy carry a Zacks Rank #2 (Buy) each.
MPLX derives stable fee-based revenues from long-term contracts, with minimal exposure to commodity-price fluctuations. The partnership&#39;s robust capital expenditure forecast for 2024, along with significant expansion initiatives, underscores its commitment to sustainable growth.
The Zacks Consensus Estimate for MPLX&#39;s 2024 EPS is pegged at $4.29. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB&#39;s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB&#39;s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
The Zacks Consensus Estimate for EGY&#39;s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2336317/eni-eyes-new-plenitude-stake-sale-to-boost-energy-transition?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2336317">To read this article on Zacks.com click here.</a>

Eni Eyes New Plenitude Stake Sale to Boost Energy Transition

SLB (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slb#NYSE">SLB</a>), an American oilfield services company, has announced a breakthrough in sustainable lithium production at its demonstration plant in Clayton Valley, NV. The company&#39;s proprietary technology, which uses direct lithium extraction (DLE), concentration and conversion, accelerates lithium production while minimizing environmental impact.
SLB&#39;s solution is 500 times faster than any conventional method, with a significantly smaller footprint in terms of land and water usage. It produces lithium with a recovery rate of 96%.
<h2>SLB&#39;s DLE Technology Offers Unprecedented Efficiency</h2>
The company&#39;s innovative approach delivers a complete, end-to-end process that extracts lithium from brine, treats impurities and produces high-purity lithium carbonate or hydroxide. The process uses just 10% of the land required by traditional evaporation methods and returns spent brine to its source, reducing ecological impact. This efficiency translates into faster production, reducing the time from extraction to conversion to mere hours compared to up to 18 months using traditional methods.
<h2>Environmental Advantage of SLB&#39;s Lithium Extraction Process</h2>
Conventional lithium extraction through evaporation leads to significant water loss and environmental disruption, leaving behind salts and minerals. On the contrary, SLB&#39;s sustainable solution significantly reduces water usage and minimizes environmental damage. The process enhances sustainability by recycling brine and limiting the use of chemical reagents, making it an eco-friendly alternative to conventional extraction techniques.
<h2>SLB Poised for Commercial-Scale Lithium Production</h2>
The Clayton Valley demonstration plant validates SLB&#39;s technology and positions the company for commercial scalability. With the successful verification of its recovery rates, SLB has achieved the technical milestones required under its agreement with Pure Energy Minerals Ltd. This paves the way for SLB to potentially take full ownership of the Clayton Valley Project, positioning the company as a leader in responsible lithium production.
Lithium is a critical component in producing smartphones, electric vehicles (EVs) and other electrification technologies. SLB&#39;s solution is flexible enough to produce lithium chloride, carbonate, or hydroxide, adapting to market needs for different lithium-based products. With this innovation, SLB is set to play a pivotal role in the electrification economy, ensuring faster, more sustainable lithium production to meet the growing demand.
<h2>SLB&#39;s Zacks Rank &amp; Key Picks</h2>
Currently, SLB carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked stocks like MPLX LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mplx#NYSE">MPLX</a>), Core Laboratories Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>) and VAALCO Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>). While MPLX currently sports a Zacks Rank #1 (Strong Buy), Core Laboratories and VAALCO Energy carry a Zacks Rank #2 (Buy) each.
MPLX derives stable fee-based revenues from long-term contracts, with minimal exposure to commodity-price fluctuations. The partnership&#39;s robust capital expenditure forecast for 2024, along with significant expansion initiatives, underscores its commitment to sustainable growth.
The Zacks Consensus Estimate for MPLX&#39;s 2024 EPS is pegged at $4.29. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB&#39;s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB&#39;s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
The Zacks Consensus Estimate for EGY&#39;s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2334516/slb-achieves-breakthrough-in-lithium-production-in-nevada?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2334516">To read this article on Zacks.com click here.</a>

MPLX

SLB Achieves Breakthrough in Lithium Production in Nevada

Pembina Pipeline Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pba#NYSE">PBA</a>), a Canada-based oil and gas storage and transportation company, has announced a major acquisition through its joint venture Pembina Gas Infrastructure Inc. (&quot;PGI&quot;). This agreement with Veren Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vrn#NYSE">VRN</a>) involves acquiring its Gold Creek and Karr area oil batteries, coupled with a significant investment in future infrastructure development.
The strategic acquisition represents a key milestone in Pembina&#39;s growth, expanding the company&#39;s infrastructure footprint and strengthening its partnership with VRN, a prominent player in the Montney and Duvernay regions.
<h2>Details of the Agreement Between PBA &amp; VRN</h2>
The acquisition involves four batteries in the Gold Creek and Karr areas, contributing significantly to PGI&#39;s existing infrastructure. These batteries boast a natural gas handling capacity of 320 million cubic feet per day and liquids handling capacity of 53,000 barrels per day. The natural gas processed from these batteries is directed to PGI&#39;s Patterson Creek Gas Plant, with the batteries and the plant integrated into Pembina&#39;s Peace Pipeline system.
Calgary-based VRN will play a major operational role with the newly acquired assets. According to the agreement, this Canadian oil and gas exploration and production company will manage the newly acquired batteries and the existing PGI-owned batteries in the region. Under this arrangement, VRN will handle all operating costs and maintenance capital, establishing itself as the primary operator for these facilities.
PGI will invest up to C$300 million and approximately one-third of this funding has already been committed, which reflects the seriousness of the collaboration. VRN, as part of this agreement, will oversee the construction and operation of the batteries, while PGI focuses on the high-pressure gathering pipelines that support this infrastructure.
<h2>Key Financial Aspects of PBA&#39;s Acquisition</h2>
The net purchase price is C$400 million (C$240 million net to Pembina), a considerable investment that highlights the company&#39;s commitment to expanding its gas processing and handling capacity. This acquisition is expected to generate an initial annual adjusted EBITDA of approximately C$50 million (C$30 million net to Pembina), with further capital deployment anticipated to yield additional contracted EBITDA through enhanced plant utilization and corresponding fees.
<h2>PBA&#39;s Long-Term Take-or-Pay Agreement</h2>
A critical component of this transaction is the 15-year take-or-pay agreement signed between the two companies. This long-term contract provides security for PGI, with VRN committing to processing capacity at the newly acquired batteries. Additionally, the agreement includes a dedicated area, which is situated in the Gold Creek and Karr regions, where VRN is obligated to use PGI&#39;s gathering and processing services for all volumes produced.
This acquisition is not only a financial transaction but a strategic move that strengthens Pembina&#39;s existing relationships and infrastructure capabilities. VRN is a leading producer in Montney and Duvernay, two prolific gas-producing formations in Western Canada, with more than 20 years of premium drilling inventory. This transaction ensures that PGI continues to collaborate with a top-tier counterpart in the energy sector.
The transaction also involves extending the existing legacy agreements between Pembina and VRN. Under the new structure, all the purchased batteries, existing assets and future infrastructure developments will be amalgamated into a single, simplified contract structure. This streamlined approach eliminates redundant administrative processes and provides clearer, long-term commitments between the parties.
Moreover, PGI has taken steps to eliminate future non-revenue-generating capital obligations tied to previous agreements, further optimizing its financial exposure. This move reduces operating expenses and ensures that all capital deployed has a direct impact on revenue generation.
This transaction enables VRN to manage the upstream gathering and battery infrastructure, while PGI will maintain operations at the Patterson Creek Plant. This arrangement supports the ramp-up of drilling activities and the associated increase in volumes outlined in VRN&#39;s development plan, leveraging the existing unused capacity at PGI&#39;s Patterson Creek Gas Plant.
<h2>Integration and Future Plans for PBA Stock</h2>
The transaction is part of Pembina&#39;s broader strategy to enhance its infrastructure and logistics chain. Liquids from the new batteries and Patterson Creek Gas Plant will continue to be transported via the Peace Pipeline system and natural gas liquids will be processed at Pembina&#39;s Redwater Facility, ensuring smooth integration with existing operations.
To finance this acquisition, PGI will use its existing credit facility, which highlights the company&#39;s strong financial position. This deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals. This acquisition aligns with Pembina&#39;s long-term goals for growth and solidifies its role as a leading midstream service provider in Western Canada.
VRN&#39;s Gold Creek and Karr area oil batteries&#39; acquisition by PBA is a strategic transaction that extends its reach into critical gas-processing regions. This collaboration with VRN ensures stable and long-term growth trajectory. The transaction brings together expanded operational capacity, enhanced infrastructure alignment and integration into Pembina&#39;s existing value chain, creating an opportunity for both companies to benefit from increased efficiencies and growth in the energy landscape of Western Canada.
<h2>Zacks Rank and Key Picks</h2>
Currently, PBA and VRN each have a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like VAALCO Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>) and Core Laboratories Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>), each carrying a Zacks Rank #2 (Buy) at present.
Houston, TX-based Vaalco Energy is valued at $568.51 million. The oil and gas exploration and production company currently pays a dividend of 25 cents per share, or 4.56%, on an annual basis. EGY is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas.
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Core Laboratories is valued at $829.89 million. The company currently pays a dividend of 4 cents per share, or 0.23%, on an annual basis. Netherlands-based CLB is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to oil and gas companies.
<a href="https://www.zacks.com/stock/news/2333876/pembina-pipeline-to-acquire-veren-s-midstream-assets-in-c-400m-deal?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2333876">To read this article on Zacks.com click here.</a>
</div>

Pembina Pipeline to Acquire Veren's Midstream Assets in C$400M Deal

Stifel analyst Stephen Gengaro maintains Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) with a Hold and raises the price target from $18 to $22.

Stifel Maintains Hold on Core Laboratories, Raises Price Target to $22

Core Laboratories Expects Q3 Revenue Of $131M - $137M (Est $135.11M), EPS Of $0.23 - $0.27 (Est $0.25)

Commodities

Press Releases

CORE LABORATORIES' FIRST QUARTER 2024 WEBCAST AT 7:30 A.M. CDT / 8:30 A.M. EDT ON APRIL 25, 2024

CORE LAB REPORTS FIRST QUARTER 2024 RESULTS

Gateway Group Announces Preliminary Presenting Companies for Gateway Conference in San Francisco on September 4-5, 2024

CORE LABORATORIES' SECOND QUARTER 2024 WEBCAST AT 7:30 A.M. CDT / 8:30 A.M. EDT ON JULY 25, 2024

Gateway Group Announces Preliminary Sponsors and Additional Presenting Companies for September Gateway Conference

CORE LAB REPORTS SECOND QUARTER 2024 RESULTS

CORE LABORATORIES' THIRD QUARTER 2024 WEBCAST AT 7:30 A.M. CDT / 8:30 A.M. EDT ON OCTOBER 24 2024

CORE LAB REPORTS THIRD QUARTER 2024 RESULTS

CORE LABORATORIES ANNOUNCES TIMING OF FOURTH QUARTER 2024 EARNINGS RELEASE AND CONFERENCE CALL

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