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APO

KRP

Kimbell Royalty Partners, LP (NYSE:KRP) has announced a $455 million acquisition of mineral and royalty interests from a private seller. The acquisition is expected to be immediately accretive to distributable cash flow per unit, with estimated acceleration of accretion in 2024 and 2025. The assets are located in the Permian and Mid-Con basins. The acquisition will be funded through a private placement of 6.00% Series A Cumulative Convertible Preferred Units to fund managed by affiliates of Apollo (NYSE:APO) and borrowings under the company's $400 million revolving credit facility.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:29 pm

MTEM

Molecular Templates, Inc. (NASDAQ:MTEM) has announced executive management changes to implement its next phase of development. Dr. Gabriela Gruia will assume the role of interim Chief Medical Officer, Jason Kim will become President and Chief Financial Officer, Kristen Quigley will be the new Chief Operating Officer, and Dr. Grace Kim will take on the role of Chief Strategy Officer and Head of Investor Relations.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 12:28 pm

SUM

Summit Materials has projected its capital expenditures for FY23 to be around $240M-$260M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:25 pm

APA

APA Corporation has announced that it is on track to deliver total adjusted oil production growth of more than 10% for the year, driven by strong performance in the US and Egypt.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:24 pm

VET

Vermilion Energy (NYSE:VET) reported Q2 2023 FFO of $1.10 per share, a 1% increase from the previous quarter. The increase is attributed to the acquisition of additional working interest in the Corrib Natural Gas Project in Ireland and new production from Mica Montney, United States, and southeast Saskatchewan assets. However, the disposition of higher-cost assets in southeast Saskatchewan and fire-related downtime in West Central Alberta partially offset the increase.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:22 pm

SM

SM Energy Corporation has projected its capital expenditures for the fiscal year 2023 to be $1.050 billion.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:21 pm

CHRD

Chord Energy has increased its fiscal year 2023 exploration and production (E&P) and other capital expenditure (CapEx) to a range of $850M-$880M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:19 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) reported Q2 revenue of $486 million, up 53% YoY and 10% QoQ, beating the Street estimate of $475 million. The company reported transaction revenue of $193 million, down 7% QoQ. Cryptocurrency related revenue was down 18% QoQ to $31 million. Equity related revenue was $25 million, down 7% YoY. Net interest revenue was up 13% YoY to $234 million. The company reported 23.2 million funded accounts, up by around 70,000 sequentially. Monthly active users were 10.8 million for the second quarter, down by around 1 million accounts. The company ended the quarter with $89 billion assets under custody, down 13% QoQ. The company reported a profitable Q2 with earnings per share of 3 cents, beating a Street estimate of a loss of 2 cents per share.

Portfolio Pulse from Chris Katje

August 04, 2023 | 12:13 pm

C

A significant bullish stance has been taken on Citigroup (NYSE:C) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 52% bullish and 48% bearish. The price target for Citigroup over the last 3 months has been between $36.0 and $70.0. The current price of Citigroup is $46.31, down 1.61%. Analysts have mixed opinions, with ratings ranging from 'Neutral' to 'Outperform' and price targets from $45 to $88.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 12:12 pm

FTTUSD

Kraken's co-founder, Jesse Powell, has expressed skepticism about the proposed restructuring plan for FTX (CRYPTO: FTT). The plan, announced by FTX, aims to revive the exchange as an offshore entity. Powell believes that FTX 2.0 would be worse than starting from scratch due to lack of team, tech, licenses, banking, and a tarnished brand. The restructuring plan involves the identification of three main recovery pools, cancellation of intercompany claims, and the liquidation of FTX's estates to make cash distributions to customers and creditors.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 12:04 pm