Club holdings Coterra Energy (CTRA) and Pioneer Natural Resources (PXD) delivered fourth-quarter earnings beats Wednesday. But we’ll be watching for how the market responds to higher capital expenditure outlooks and lower quarterly dividends for both of these Texas-based oil-and-gas firms. Coterra’s total revenue increased 2.5% year-over-year, to $2.28 billion, beating analysts’ forecasts of $2.11 billion, according to estimates compiled by Refinitiv. Coterra’s adjusted diluted earnings-per-share (EPS) grew 40% compared with the year prior, to $1.16 a share, narrowly beating expectations for EPS of $1.10, Refinitiv data showed. Pioneer’s total revenue increased 18% year-over-year, to $5.10 billion, beating analysts’ forecasts of $3.53 billion, according to Refinitiv. Pioneer’s adjusted diluted EPS grew 29% on an annual basis, to $5.91 a share, topping expectations for EPS of $5.77, Refinitiv data showed. Note : Both companies are scheduled to host their earnings conference calls with analysts and investors Thursday at 10:00 a.m. ET. Bottom line Solid production and pricing, coupled with low costs, helped both companies deliver fourth-quarter results ahead of expectations. But with investors looking ahead to 2023, Coterra and Pioneer could both see their stock prices come under pressure over concerns about lower dividends on a sequential basis and higher capital expenditures in 2023 — as was the case with Club holding Devon Energy (DVN) last week. That move prompted us to reduce our exposure to any potential post-earnings downside by trimming Coterra and Pioneer late last week. However, given last week’s energy sell-off some of the dividend news may have already been priced into their share prices. After a strong 2022, energy stocks have stumbled out of the gate this year, tracking the declines in the underlying commodities. West Texas Intermediate crude — the U.S. oil benchmark — has fallen about 7.5% this year, to hover around $74 a barrel, while natural gas has seen its value come down by more than half, to around the low $2-per-cubic-foot level. We’ll look for more color on both companies’ 2023 frameworks tomorrow on their conference calls. For the moment, we reiterate 2 ratings on both firms. In afterhours trading Wednesday, Coterra was trading up more than 2%, at $23.80 a share, while Pioneer was up nearly 1%, at $207.11 a share. Capital allocation Coterra Energy said its upcoming quarterly fixed-plus-variable dividend will be 57 cents a share — factoring in a base dividend of 20 cents a share and a variable of 37 cents a share — compared with 68 cents per share in the prior quarter. Still, the new annualized payment represents a hefty 9.8% dividend yield based on Coterra’s closing price of $23.26 on Wednesday. Coterra also increased its annual base dividend to 80 cents per share from 60 cents, while announcing a new $2 billion share repurchase program. The company continues to target returning 50% or more of its free cash flow to shareholders, but its new priorities are to pay out the higher base dividend first, repurchase stock second, and pay variable dividends third. The decision to put more emphasis on share repurchases instead of variable dividends makes sense given the stock’s weak performance since June of last year. Management currently expects the company will generate $1.9 billion of free cash flow in 2023. After funding the base dividend, at least $400 million would be left over for additional shareholder returns. Pioneer said its upcoming quarterly fixed-plus-variable dividend will be $5.58 a share — factoring in a base dividend of $1.10 a share and a variable of $4.48 a share — compared with $5.71 per share in the prior quarter. But the annualized dividend yield based on Pioneer’s closing price of $205.27 Wednesday provides shareholders with a significant 10.87% yield, making it still one of the highest yielding companies in the S & P 500 . Pioneer also continues to make headway on its share repurchase program. The company bought back $400 million worth of stock in the fourth quarter and said Wednesday it has already bought back $250 million so far in the current quarter. Fourth-quarter production Coterra Energy’s oil-and-gas production came in above the high end of the company’s guidance and edged out analysts’ estimates, too. Meanwhile, Pioneer’s oil production slightly missed analysts’ forecasts — a disappointing outcome given the company is oil-weighted and crude returns higher profit margins than natural gas. Even so, Pioneer beat expectations on production of natural gas liquids and gas. Notably, Pioneer doesn’t hedge its oil production, making its realized pricing closer to that of the underlying commodity. Pioneer closed all its hedges at the start of 2022, a prescient move considering crude’s gains last year. 2023 outlook Guidance provided by Coterra and Pioneer echoed that of Devon: Softer production but higher capital expenditures in 2023. Coterra’s total production outlook for oil and gas was below estimates at the mid-point. But it beat on expectations for oil production, which should please investors given the high margins of crude production. On the other hand, Pioneer’s total production outlook was slightly higher than expected, though oil was roughly in line at the mid-point. Capital expenditure outlooks were higher than expected, too, and we suspect both companies are feeling some of the same inflationary pressures Devon cited last week . Still, both are very low cost operators. Coterra sees its corporate free cash flow breakeven at $45 per barrel of WTI and $2.25 per one thousand cubic feet of Henry Hub natural gas, while Pioneer’s 2023 corporate breakeven is $39 per barrel of WTI. (Jim Cramer’s Charitable Trust is long CTRA, PXD, DVN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019.
Angus Mordant | Reuters
Club holdings Coterra Energy (CTRA) and Pioneer Natural Resources (PXD) delivered fourth-quarter earnings beats Wednesday. But we’ll be watching for how the market responds to higher capital expenditure outlooks and lower quarterly dividends for both of these Texas-based oil-and-gas firms.
Chrysler parent company Stellantis is sinking billions on electric Jeeps and Chargers that no one wants, but the they’ve developed market-leading EVs in Europe, and this latest, £36,995 DS Automobiles No4 is exactly the sort of electric crossover that could rejuvenate the brand’s American prospects. The only question now is: why won’t they bring it here?
The new all-electric No4 E-Tense model from Stellantis’ French brand DS Automobiles will be offered at three trim levels starting with the Pallas at £36,995 (approx. $48K US), rising to £39,160 for the Pallas+ and topping out at £41,860 (approx. $56K US, before incentives get applied) for the range-topping Etoile.
All three trims use a front-mounted electric motor rated at 213 hp, drawing from a 58.3‑kWh battery pack. That setup delivers up to 280 miles on the WLTP cycle (about 240 miles by EPA estimates). That feels like a lot of miles from a relatively small battery, aided no doubt by the DS No4’s aerodynamic. Inside the No4’s sculpted flanks is enough room for five adults and a bunch of their stuff, as well as an incredibly sexy dash and infotainment layout that (in the official press photos, at least) seems positively slathered in Alcantara (think “vegan suede”).
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With 120 kW fast charging capabilities, the No4’s battery pack can replenish from 20 to 80 percent in under 30 minutes. Thanks to built‑in V2L/V2X tech, the No4 can also supply power back to external devices.
Electrek’s Take
I think it would be a hit. As for why the marketing gurus at whatever’s left of the old Chrysler corporation seem to think an electric muscle car that no one asked for or a Dodge-branded Alfa Romeo that no one will ever ask for is a better use of their marketing dollars – that’s simply beyond me.
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The clock is running out on some of the best EV lease deals of the year. With the 25% tariff on imported EVs already hitting and the federal tax credit set to vanish after September 30, automakers are dangling some serious end-of-the-month offers. If you’ve been waiting to go electric, now’s the time. CarsDirect spotted three August EV price drops worth a look, but you’ll need to move fast, because these deals won’t last past the holiday weekend.
2025 Mercedes EQE SUV: $62 per month price drop
Mercedes is sweetening the pot on its EQE SUV as it works to move inventory. The 2025 Mercedes-Benz EQE 350+ SUV can now be leased for $629 a month for 36 months with $7,923 due at signing. That works out to an effective $849 a month – a $62 drop from previous deals. For a nearly $80,000 luxury EV, that’s not a bad offer.
But timing is key. The federal EV tax credit disappears next month, and Mercedes is set to pause US EV orders on September 1, which could make finding the right model tougher. Current incentives run through September 2, so if you’ve been eyeing an EQE, lock one in now before the market shifts.
Click here to find a local dealer with the Mercedes EQE SUV in stock.–trusted affiliate link
2025 Volkswagen ID. Buzz: $90 per month price drop
As of August 22, the 2025 Volkswagen ID. Buzz picked up a hidden $3,000 Dealer Lease Bonus – that is, dealer cash that only shows up if you lease.
That incentive knocks the Pro S trim down to $589 a month for 36 months with $5,999 due at signing. Do the math, and that’s $756 a month effective cost – a $90 drop from the earlier $846 offer. With $10,500 in total savings, this is the best deal yet on the ID. Buzz and one of the standout Labor Day EV lease offers.
Hyundai just slashed the price on its most powerful EV yet. The 2025 IONIQ 5 N can now be leased for $549 a month for 36 months with $3,999 due at signing (10,000 miles a year). That works out to an effective $660 a month – a huge $150 drop from July.
For a track-ready performance car, that’s a steal. And unlike most performance machines, the IONIQ 5 N doesn’t guzzle gas – you can just plug it in overnight at home. Current offers run through September 2.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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UK delivery firm DPD is putting one of Terberg’s heavy-duty electric yard tractors to the test at its giant, Oldbury, UK logistics hub – and its findings will help DPD shape a cleaner, more sustainable fleet strategy for the future.
DPD operates a fleet of over 50 yard hostlers (or “tugs” in the UK) to perform all trailer movements across its five sorting hubs in Oldbury, Smethwick, and Hinckley. Currently, those yards are serviced by a fleet of diesel tractors – but the company is interested in decarbonizing and “keen” to understand how EVs could be deployed across the fleet in the longer term.
“Tugs are the lifeblood of our hub operation, performing all trailer movements efficiently and safely across the five sites,” says Tim Jones, Director of Marketing, Communications, and Sustainability at DPD UK.
To that end, the company has deployed a Royal Terberg YT203-EV fitted with a pair of 78 kWh batteries, but it can be spec’ed up to 236 kWh and an almost unbelievable 105 tonne GCVWR. Even with “just” 156 kWh, the Terberg is able to work nearly a full 24 hours between charging – capability that is on par with diesel. At least.
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“Terberg DTS are proud to be able to assist DPD on the way to Net Zero (emissions) and it was great to be able to work with DPD’s drivers and demonstrate what the YT203-EV can do in their own yard,” explains Peter Giles, Head of UK Logistics Sales at Terberg DTS. “Their aim is to be one of the leaders in the march to a more sustainable fleet future and they have already amassed a lot of knowledge and experience working with EVs. We know just how versatile and effective the vehicle is, but every operation is slightly different and working on-site with their own drivers means DPD can get really meaningful feedback from those who know the job better than anyone.”
Several operators will be trying out the YT203-EV across different shifts and operations to get feedback. So far, however, they seem hyped. “The electric tug (performs) incredibly well,” adds Jones. “Our drivers were really impressed, especially with the ease of use and driver comfort.”
Electrek’s Take
Terberg terminal tractor; via DPD.
Whether it’s Terberg, Tico, or Orange EV, terminal tractors are an ideal application for electrification, and companies like DHL have spent more than a decade proving that out. And now that DPD is giving these HDEVs a chance, expect to see a whole lot more of them getting deployed soon.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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