Continued Decline in 2Q for Oil and Gas E&Cs, but Outlook Remains More Positive
Oil and gas engineering and construction companies TechnipFMC, Saipem, and Subsea 7 released mixed second-quarter results, with near-term declines in financial performance being contrasted with a more positive forward-looking picture. Our fair value estimates and no-moat ratings for each of the companies remain unchanged.Each of the companies' Subsea E&C-focused segments (generally the largest segment for each in terms of operating profit) has seen deteriorating near-term financial performa...
TechnipFMC is global leader in oil and gas projects, technologies, systems, and services. Co. offers subsea, surface, onshore, and offshore solutions for oil and gas projects. Co. serves customers worldwide. With Co.'s technologies and production systems, integrated expertise, and comprehensive solutions, Co. is transforming Co.'s clients' project economics. Co. is uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, Co.'s offering unlocks new possibilities for Co.'s clients in developing their oil and gas resources.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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