Coming Shale Growth a Major Threat to Oil Prices
Rapid U.S. production growth is looming.
Stephen Simko
Stephen Simko, CFA, is director of energy equity research for Morningstar. Before assuming his current position in 2015, he was a senior equity analyst, covering the oil and gas and renewable energy industries. Before joining Morningstar in 2008, he spent more than two years in corporate restructuring for FTI Consulting.
Simko holds a bachelor’s degree in finance from the University of Illinois at Chicago. He also holds the Chartered Financial Analyst® designation.
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An MLP Giant on the Horizon
In the announced merger between Sunoco Logistics and Energy Transfer Partners, the seeming winner in this transaction is Energy Transfer Equity.
Oil Markets' Fundamentals Improving, but U.S. Shale Still Looms
Recent rig additions could weaken the recovery's strength.
Plains GP Holdings Doing Its Best to Survive
We are decreasing our fair value estimate, and caution investors to be prepared for further volatility.
Oil and Gas Price Outlook: Updating Our Near-Term Methodology for Forecasting Prices
In isolation, this will be a valuation tailwind for our coverage, but in most cases it will be modest.
BP's Dividend at Risk?
The oil giant has capacity to protect its payout, but if oil remains below $40 a barrel through 2017, it may need to dial it back, writes Morningstar’s Stephen Simko.
Our Oil Price Outlook
The stage is still set for a long-term recovery, but near-term risk is elevated.
All Is Not Lost in Midstream Meltdown
There are still operators with solid balance sheets, strong distribution coverage, and low costs of capital.
Don't Expect Kinder Dividend to Bounce Back Soon
We applaud management's efforts to focus on the balance sheet, but we are placing Kinder under review until we re-evaluate our fair value estimate.
New World Trumps Old World in Integrated Oil
U.S. firms hold greater dividend safety, better assets, and more attractive valuations than their European counterparts.
Reducing Our Oil Price Outlook
All signs point to a brutal near term but a meaningful long-term recovery.
Shelling Out Too Much for an Oil Megadeal
High offer price for BG Group drags Shell's fair value estimate lower.
BG Is a Bargain, But Shell Still Overpays
Near-term execution issues have left BG Group shares in the bargain bin, but Shell is still paying a hefty price for the firm, writes Morningstar analyst Stephen Simko.
Energy: Coping With Lower Oil and Gas Prices
The rapid decline in oil prices has created significant investment opportunities, but downside risk remains in the short term.
Game Change: Low-Cost U.S. Oil Is Here to Stay
Oil prices are likely to rebound from here, but robust U.S. supply will ultimately cap upside.
Lower for Longer: A New Normal for U.S. Natural Gas Prices
Examining the impact of abundant low-cost supply--and uncertainty in global oil markets--on the domestic natural gas complex.
This Stock's Strategy Is Riskier Than the Market Thinks
The growth of light crude output could put further pressure on U.S. (and especially North Dakota) oil prices in 2014-15, hindering near-term growth for this firm.
Dividend Growth Finally Set to Arrive for Total
Heavy capital spending is ready to bear fruit in the form of rising cash flow; regular dividend increases should follow.
Improvement in North America Means Brighter Days for Shell
We think Shell's valuation is the most compelling of the oil majors.
BP Reports An Unimpressive End to 2011
Though the worst of Macondo appears to be behind it, the specter of the disaster is likely to haunt the company by challenging its ability to generate its hoped-for results for some time to come.
Solar Downturn Still in the Early Innings
First Solar is the one company that we think may have near-term upside.
Dark Days for the Solar Sector
Sell-off gaining steam, but will provide attractive entry point for investors.
Can Jabil Successfully Transform its Business?
Chasing higher margins in the short term may not pay off in the long term.
Shining a Light on Global Solar Growth
2010 was a white-hot year for solar. Will the wattage keep pace in 2011?
Hard Drive Makers Have Their Best Quarter in Years
How long can the boom last?
Dark Days for the Solar Industry
A perfect storm is wreaking havoc on the solar industry.