Shares of the French gas and oil behemoth Total S.A. (OTCQB: TTFNF) shot through the Stratosphere Feb. 12 when it released its disappointing fourth-quarter results.
At the end of the trading day, 981,522 shares changed hands, more than 24 times its three-month average of 40,348 shares.
Fourth-Quarter Results Disappointing
Total S.A. (OTCQB: TTFNF) reported a 31% decline in fourth quarter profits, in the midst of a slide in its production and lower prices.
Despite this poor showing, the company increased its dividend. The board has decided to propose a dividend of $3.25 per share for 2013, representing a 3.4% increase for the fourth-quarter dividend. The company will pay a dividend of 83 cents per share for the quarter.
Net Income Down
Net income group share fell 31% to $2.19 billion from last year's $ 3.1 billion. The latest results included 1.1 million in charges and write-offs concerning the restructuring of downstream activities in France.
On an adjusted basis, net income was $3.37 billion, down 19 percent from last year. Adjusted net income excludes the inventory effect, the effect of changes in fair value and special items.
Quarterly sales slid 4 percent to $65.2 billion from $68.1 billion in the prior-year period.
Adjusted operating income from business segments fell 18% to $ 6.5 billion due to lower results from the upstream segment as well as the Refining & Chemicals and Marketing & Services segments.
Analysts’ Consensus
Of the 32 analysts that cover TTFNF, 10 rate it a “buy,” 10 an “outperform,” 9 a “hold” and 3 an “underperform.”
TTFNF’s share value closed at $59.77 on Feb 12, up 22 cents, from its close of 59.55 the previous day.
Find out what could be the best investor’s move when it comes to TTFNF by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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Commercial Bank of China Ltd Still Riding Acquisition Wave
Meanwhile in the banking sector, the share volume of Industrial and Commercial Bank of China Ltd. (OTCPINK: IDCBY) also skyrocketed Feb. 12, with 2,553,733 shares changing hands, more than 17 times its three-month average of 148,164 shares
Buys 60% of Standard Bank Plc Shares
This uptick in volume comes only a couple of weeks after the Jan. 29 announcement that Chin-based bank was acquiring 60% of the existing issued shares in Standard Bank Plc (“SB Plc”).
According to the release, SB Plc is a bank wholly owned by Standard Bank via Standard Bank London Holdings Limited (“SBLH”). With full banking licenses, SB Plc has an active global markets business with in depth knowledge of emerging markets, as well as extensive experience in trading commodities and providing global markets solutions to meet its clients’ needs.
In addition to the global markets business, which includes commodities, foreign exchange, interest rates, credit and equity trading, SB Plc has also historically been engaged in other businesses such as corporate lending and investment banking.
Bank Dedicated To Global Markets
Under the share sale and purchase agreement, SB Plc will carve out all businesses not related to the global markets business prior to completion of the transaction. Following the completion of the carve-out and re-organization, SB Plc will become a bank dedicated to the global markets business, providing services to global clients through its affiliates and operations in the London, New York, Singapore, Hong Kong, Dubai, Tokyo and Shanghai.
According to the share sale and purchase agreement, the purchase price to be paid by ICBC to SBLH will be determined by reference to the net asset value of SB Plc at the completion date of the transaction.
Based on the net asset value of SB Plc as at the end of June 2013, the consideration for this transaction is estimated to be approximately $770 million.
Analysts’ Consensus
Of the 24 analysts that cover TTFNF, 15 rate it a “buy,” 6 an “overweigh” 2 a “hold” and 1 an “underweight.”
IDCBY’s share value closed at $12.34 on Feb 12, up 4 cents, from its close of 12.30 the previous day.
Find out what could be the best investor’s move when it comes to IDCBY by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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In addition to the energy and banking sectors, there have been some interesting new energy-technology stocks garnering high stock volume.
New Micro-Refinery Technology
On Feb 12, energy technology Well Power Inc.’s (OTCQB: WPWR), share price closed at 34 cents, down 1 cent from its previous day's close of 35 cents, on volume of 3,790,875 shares.
The Houston-based energy technology company's newly licensed technology that it says enables oil and gas producers and operators to process otherwise wasted natural gas, including stranded, shut-in, flared and vented gas and produce valued end-products. These would include Engineered FuelTM (diesel, diluents, synthetic crude) and electrical power.
Find out what could be the best investor's move when it comes to VOELD by getting the complete report here, or by cutting and pasting the following link in your Web browser:
http://www.sixfigurestockpicks.com/
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