"We"re One Event Away From A 1970s-Style Stagflation Explosion..."
"We're One Event Away From A 1970s-Style Stagflation Explosion..." Excerpted from 'The Turning Point' report via Larry MacDonald's TheBearTrapsReport.com, We hear the comparisons more and more; they are growing louder by the week. “The years 2023-2024 look a lot like 1973-1974.” The history books remind us,1973’s oil embargo shook the global energy market. It also reset geopolitics, reordered the global economy, and a multipolar world saw energy weaponized. After kissing 6% in 1970, in Q1 of 1973, inflation as measured by CPI danced just below 4%, much like today, central bankers were doing the Michael Jackson moonwalk in celebratory form. Then, in bloodcurdling fashion in late 1974, CPI breached 12%. “Don’t be silly, 1973 was a far different set up,” we are told. When it comes to demand on a global stage, 2024 is 2x 1973. Above all, the U.S. is the largest producer of oil in 2024, not as was the case in 1973, when she was the world’s largest petroleum importer. At the time, oil was 50% of world energy consumption vs. 1/3 today. There is just one overwhelming difference today. In the last 8 weeks, we have seen drone technology knock out a) parts of Russia’s second largest airport, b) at least three of Putin’s prize oil refineries, and c) countless ships in the Suez Canal. Weaponizing oil in a multipolar world is exponentially more uncertain with James Cameron calling the shots. In October of 1984, he brought us the “Terminator” and opened the world’s eyes to the future of AI and the weaponization of robots. If Vladimir Putin, on the eve of an election, cannot protect his second-largest airport, how can the Saudi’s protect their own crown jewel. Measuring 280 by 30 km (170 by 19 mi) (some 8,400 square kilometres (3,200 sq mi)), it is by far the largest conventional oil field in the world. That’s a lot of ground to protect. We are one event away from a 1970s-style stagflation explosion. More often than not, recency bias is an investor’s foe. The 2008 and 2020 recessions were similar in that a shock triggered a colossal bond rally along with plunging PMI, ISM and LEI data. It’s more and more apparent by the minute. What we are experiencing today is much more of a 1970s – 1980s recession vintage. An inflation-driven slowdown hits the bottom 60% first, but this time around after the Fed suppressed rates for so, so, so long, higher net worth consumers feel like they died and went to heaven. Revenge consumption has been the economy’s tailwind from those with $1m ($50k annual income vs. $8k in 2021) to $10m ($500k annual income vs. $80k in 2021) in a money market fund. This, plus trillions of fiscal overdosing coming out of Washington have prevented the recession so far, but they have also made inflation’s second act far more certain in a multipolar world. In this note we breakdown the increasing stagflationary landscape. By our count, $500B has moved into Oil & Gas and Metals in recent months. Likewise, oil’s risk to inflation expectations, rates and the -- CRE wounded -- super regional banks is accelerating. What does the world look like if the Fed is forced to ease to protect the banks and the bottom 60% of consumers in an election year -- while inflation is heading north for the summer? Sticky Inflation Both CPI on Tuesday and PPI on Thursday came in hotter than expected. Core CPI rose 3.8% y/y vs +3.7% expected and PPI rose 2% y/y vs 1.9% expected. At the same time, several data points show a slowing economy as well. Retail sales, which were reported simultaneous with the PPI on Thursday, rose 0.6% m/m, which was less than the 0.8% forecast. The prior month was revised lower as well, from -0.8% to -1.1%. In ANOTHER stagflationary turn, the Empire State manufacturing survey for March also came in well below expectations at -21 vs -7 expected. The report noted that “Demand softened as new orders declined significantly, and shipments were lower. Unfilled orders continued to shrink. Labor market indicators weakened, as employment and hours worked both decreased. The pace of input price increases moderated somewhat, while the pace of selling price increases held steady”. BofA in its monthly consumer spending report on Monday said that” consumer spending momentum appears soft, Credit card and debit card spending rose 0.4% m/m, after a 0.3% drop in January.” Oil – High Impact Far and Wide The oil heavy CRB touched its highest level since November Friday. Every day the super-regional banks go without rate cuts, the day of reckoning on market-tomarket losses grows closer to a reality. The Fed opened the door to a softer path, just an inch – that has fueled inflation’s Act II. This has LARGE implications for the banks. Since January 2023; Zions ZION, Comerica CMA and Truist TFC are underperforming the S&P 500 by close to 50%. The NYCB failure has regulators at the OCC and FDIC on the lookout for other Mark-to-Market cheaters. In recent days, we have multiple Ukraine drone attacks on Russian oil refineries, another over the weekend. A multipolar world takes some of the steering wheel away from the Fed with large implications for the banks. Multipolar World - Drone Strikes with High Impact By some estimates, in 2023 the EU imported 130 million barrels of seaborne refined products – mostly diesel – from refineries processing Russian crude. These purchases were worth an estimated €1.1 billion. With some Russian refineries down, Europe must draw more supply from the West, WTI is more than +13% off February levels, +20% off the December lows. The refineries that are processing Russian crude oil and exporting to the EU are largely the same ones sending laundered Russian fuel to the UK and US. The seven largest refineries collectively processed 390 million barrels of Russian crude oil in 2023, valued at an estimated €23 billion. (Global Witness). Connecting the Dots Higher rates + higher inflation expectations are leaving a stain here. Some banks desperately need rate cuts. Where does that leave us? The anxious bond market is now pricing in just 60% odds a rate cut in June and 72bp of rate cuts in 2024. In the upcoming FOMC meeting, some economists are now forecasting the DOT plot to move from 3 to 2 cuts this year. It only takes two Committee members to raise their dot for the median dot to go from 3 cuts to 2 cuts for the year. Odds of Rate Cut The higher the white line above the lower the June rate cut probability. We are back where we were in late February, with June rate hike odds at 60%. (The market prices these odds as an expected move in the Fed Fund futures. So -15bp is a 15bp/25bp=60% chance of a 25bp drop in Fed Funds.) ... "Funny how Nicky-Leaks only mentions the dovish data, failed to mention the Atlanta Fed sticky CPI data out yesterday which showed nice reacceleration" -- Dallas PM. * * * Subscribers can read the full 'Turning Point' report from Larry MacDonald's Bear Traps Report here... Tyler Durden Mon, 03/18/2024 - 15:25.....»»
Are You a Value Investor? Bet on These 3 Energy Stocks
Amid supportive energy business, it would be wise for investors to bet on value stocks like Energy Transfer (ET), Transportadora de Gas (TGS) and Helmerich & Payne (HP). Energy stocks have once again caught the attention of investors following The International Energy Agency's recent upward revision of the oil demand outlook. The favorable commodity pricing environment is supporting upstream operations, while downstream firms are enjoying steady cash flows. These conditions create opportunities for Energy Transfer LP ET, Transportadora de Gas del Sur SA TGS, and Helmerich & Payne Inc. HP to witness gains.Favorable Energy BusinessWith West Texas Intermediate crude surpassing the $80 per barrel mark, the conditions are highly conducive for exploration and production endeavors. According to the short-term energy outlook from the U.S. Energy Information Administration, the average spot price for West Texas Intermediate crude is projected to be $82.15 per barrel this year. This price point is exceptionally promising for upstream operations, leading to increased demand for drilling activities and oilfield services in the prolific shale plays across the United States.Higher production, following favorable commodity prices, is leading to an increased need for transportation and storage activities, aiding the midstream players. Additionally, companies and partnerships involved in natural gas transportation are generating consistent cash flows due to the commodity's cleaner and more efficient characteristics compared to traditional fuels. Which Stocks to Buy?Amid supportive energy business, it would be wise for investors to bet on those stocks that are witnessing upward earnings estimate revisions and are undervalued.Employing our proprietary stock screener, we have zeroed in on three such stocks. While one stock sports a Zacks Rank #1 (Strong Buy), the remaining two have a Zacks Rank #2 (Buy). All the stocks carry a Value Score of A.You can see the complete list of today’s Zacks #1 Rank stocks here. 3 Stocks in The SpotlightEnergy Transfer has a stable business model with its huge pipeline network of natural gas, oil and refined petroleum products across 125,000 miles. The partnership has midstream assets in all the key basins in the United States, thereby generating stable fee-based revenues.Energy Transfer, sporting a Zacks Rank #1 (Strong Buy), has offered a higher dividend yield than the composite stocks belonging to the industry over the past year. For this year, the partnership has witnessed upward earnings estimate revisions over the past 30 days.Transportadora de Gas’ midstream asset portfolio has the most extensive natural gas pipeline network in Latin America. It generates stable fee-based revenues since its pipeline assets transport more than 60% of the gas consumed in Argentina.Over the past year, the stock gained 49.5%, outpacing the industry’s 17.5% increase. The outperformance is backed by the company’s stable business model and a strong focus on creating differential value for shareholders. Also, TGS, carrying a Zacks Rank #2 (Buy), has significantly lower debt exposure than the composite stocks belonging to the industry. Transportadora de Gas has seen upward earnings estimate revisions for 2024 over the past 30 days.Helmerich & Payne is poised for growth as rising oil prices drive up exploration and production activities, resulting in greater demand for the company's drilling services and solutions. The Zacks #2 Ranked company’s super-spec FlexRigs is in high demand for unconventional drilling in key resources.For fiscal 2024, Helmerich & Payne has witnessed upward earnings estimate revisions over the past 60 days. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helmerich & Payne, Inc. (HP): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report Transportadora De Gas Sa Ord B (TGS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
3 Stocks to Buy From the Promising Concrete & Aggregates Industry
Federal infrastructure spending and improving the residential market should help the Zacks Building Products - Concrete & Aggregates industry players like VMC, EXP and SUM. An uptick in spending on infrastructure and public construction is set to continue driving growth in the Zacks Building Products - Concrete & Aggregates industry. The industry is also poised to benefit from improvements in the residential construction market and advantageous pricing dynamics amid difficult conditions. While uncertainties in the macroeconomic landscape, weather-related issues, and increased labor costs pose challenges, companies like Vulcan Materials Company VMC, Eagle Materials Inc. EXP, and Summit Materials, Inc. SUM have been leveraging these favorable trends to their advantage.Industry DescriptionThe Zacks Building Products - Concrete & Aggregates industry consists of manufacturers, distributors and sellers of construction materials like aggregates and concrete along with other related items for public infrastructure, residential and non-residential, as well as other end markets. The materials also include gypsum wallboard, recycled paperboard, concrete blocks, ready-mix concrete, and oil and gas proppants. The industry players are also involved in designing, engineering, manufacturing, marketing, and installation of external building products for commercial, residential, and repair and remodel markets in domestic as well as international markets.3 Trends Shaping the Future of Concrete & Aggregates IndustryFocus on Reviving Infrastructure: The Infrastructure Investment and Jobs Act, the Creating Helpful Incentives to Produce Semiconductors and Science Act, and the Inflation Reduction Act collectively signify a substantial commitment to bolstering American competitiveness. These three enacted laws are aimed at revitalizing American infrastructure, expediting the shift toward a sustainable economy, and fortifying the domestic semiconductor sector. These bills comprise new investments in almost every infrastructure sector, including transportation, energy, broadband and water. The U.S. administration’s endeavor to pump money for rebuilding the nation's roads, bridges and other infrastructure would give construction companies a solid foundation for growth.Acquisitions & Focus on Operating Efficiency: The industry participants follow a well-chalked-out acquisition plan to enhance domestic and international portfolios. Moreover, companies are increasingly focusing on reducing controllable costs and maximizing operating efficiency across business lines to generate higher earnings and cash flows. The industry players have also been experiencing a solid pricing environment across their product portfolios, thereby helping to boost margins.Fluctuation in Input Prices, Weather Woes & Shortage of Skilled Labors: The industry players are struggling with escalating material expenses, the shortage of skilled laborers and rising wage costs. The companies use electricity, diesel fuel, liquid asphalt and other petroleum-based resources. Hence, supply-related woes and significant fluctuations in the prices of these resources affect operating results. Also, businesses are exposed to weather-related risks affecting production schedules and profitability. Excessive rainfall, flooding or severe droughts jeopardize shipments and production. The first and fourth quarters are mostly affected by winter. Again, hurricanes in the Atlantic Ocean and Gulf Coast are most active during these quarters. These impediments may bump up costs and mar the industry participants’ profits.Zacks Industry Rank Indicates Bright ProspectsThe Zacks Building Products - Concrete & Aggregates industry is a nine-stock group within the broader Zacks Construction sector. The industry currently carries a Zacks Industry Rank #46, which places it in the top 18% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates impressive near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a higher earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. Since December 2023, the industry’s earnings estimates for 2024 have increased to $2.47 per share from $2.37.Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Outperforms S&P 500 & SectorThe Zacks Building Products - Concrete & Aggregates industry has outperformed the Zacks S&P 500 Composite and the broader Zacks Construction sector over the past year.Stocks in this industry have collectively gained 71.8% versus the broader sector’s rise of 53.7% over the past year. Meanwhile, the S&P 500 has gained 29.3% in the same period.One-Year Price PerformanceIndustry's Current ValuationOn the basis of the forward 12-month price to earnings, which is a commonly used multiple for valuing Building Products - Concrete & Aggregates stocks, the industry is currently trading at 20.8X versus the S&P 500’s 20.9X and the sector’s 17.8X.Over the past five years, the industry has traded as high as 24.8X, as low as 14X and at a median of 19.6X, as the chart below shows.Industry’s P/E Ratio (Forward 12-Month) Versus S&P 5003 Concrete & Aggregates Stocks to Buy NowBelow, we have discussed three stocks from the Zacks Concrete & Aggregates universe that have solid growth potential. The chosen companies currently carry a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Summit Materials: Based in Denver, CO, this is a construction material company. Summit Materials has been witnessing solid pricing growth across all lines of business and expects the trend to continue in 2024. The company has also been optimizing its portfolio as it intends to shift toward a more materials-led portfolio. Meanwhile, the company remains optimistic as it believes public markets are poised to experience robust and durable growth driven by well-funded state budgets and infrastructure funding. A solid state Department of Transportation budget flow will aid the company, which has been receiving more contracts associated with highways and related works.Summit Materials currently sports a Zacks Rank #1. The company’s shares have gained 52.2% in the past year. Earnings estimates for 2024 have increased to $2.42 per share from $2.09 over the past 30 days. This depicts analysts’ optimism over the company’s prospects. Also, earnings for 2024 are expected to rise 53.2%. It also has a favorable VGM Score of B, making it a potentially interesting investment opportunity.Price and Consensus: SUMEagle Materials: This Dallas, TX-based company produces and supplies heavy construction materials, light building materials and materials used for oil and natural gas extraction in the United States. Higher demand for wallboard and cement, strong homebuyer demand, increasing infrastructure awards and significant investment in domestic manufacturing facilities are aiding the company’s growth. These tailwinds have been offsetting higher rates. Higher pricing is also adding to the positives. The company remains well-positioned courtesy of its broad geographic footprint, population-growth trends, shortages of residential units, and higher state-level infrastructure spending owing to a multi-year federal highway bill.Eagle Materials currently carries a Zacks Rank #2. Shares have surged 84.4% in the past year. Also, fiscal 2024 earnings estimates have increased to $14.26 per share from $14.08, over the past 60 days. Earnings for fiscal 2024 are expected to grow 13.8%. It also has a favorable VGM Score of B.Price and Consensus: EXPVulcan Materials Company: This Birmingham, AL-based company produces and supplies construction aggregates, asphalt mix as well as ready-mixed concrete. The company’s focus on four strategic initiatives — Commercial Excellence, Operational Excellence, Strategic Sourcing, and Logistics Innovation — should enhance price performance and operating efficiencies. Vulcan Materials has been generating higher earnings on the back of prudent cost-control efforts and increased pricing in aggregates. Its focus on a systematic inorganic strategy for expansion is adding to the positives. Overall, improving residential and private non-residential construction, large industrial project demand, solid infrastructure investment and favorable pricing dynamics should drive growth.Vulcan currently carries a Zacks Rank #2. Shares of the company have rallied 63.4% in the past year. Earnings estimates for 2024 have increased to $8.28 per share from $7.92 over the past 30 days. Also, earnings for 2024 are expected to rise 18.3%. It has a three-to-five-year expected EPS growth rate of 16.4%. It also has a favorable VGM Score of B.Price and Consensus: VMC Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vulcan Materials Company (VMC): Free Stock Analysis Report Eagle Materials Inc (EXP): Free Stock Analysis Report Summit Materials, Inc. (SUM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Best Value Stocks to Buy for March 18th
EBMT, IMXI and INSW made it to the Zacks Rank #1 (Strong Buy) value stocks list on March 18, 2024. Here are three stocks with buy rank and strong value characteristics for investors to consider today, March 18th: Eagle Bancorp Montana EBMT: This holding company that provides retail banking services in the south-central portion of Montana, carries a Zacks Rank #1(Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 20% over the last 60 days.Eagle Bancorp Montana, Inc. Price and Consensus Eagle Bancorp Montana, Inc. price-consensus-chart | Eagle Bancorp Montana, Inc. QuoteEagle Bancorp Montana has a price-to-earnings ratio (P/E) of 7.12 compared with 10.00 for the industry. The company possesses a Value Score of A.Eagle Bancorp Montana, Inc. PE Ratio (TTM) Eagle Bancorp Montana, Inc. pe-ratio-ttm | Eagle Bancorp Montana, Inc. QuoteInternational Money Express IMXI: This company which, offer wire transfer and other processing services to customers through network of sending and paying agents located primarily in the District of Columbia and Puerto Rico as well as throughout Latin America, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.INTERNATIONAL MONEY EXPRESS, INC. Price and Consensus INTERNATIONAL MONEY EXPRESS, INC. price-consensus-chart | INTERNATIONAL MONEY EXPRESS, INC. QuoteInternational Money Express has a price-to-earnings ratio (P/E) of 9.46 compared with 11.70 for the industry. The company possesses a Value Score of A.INTERNATIONAL MONEY EXPRESS, INC. PE Ratio (TTM) INTERNATIONAL MONEY EXPRESS, INC. pe-ratio-ttm | INTERNATIONAL MONEY EXPRESS, INC. QuoteInternational Seaways INSW: This tanker company which, provides energy transportation services for crude oil and petroleum products, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 16.1% over the last 60 days.International Seaways Inc. Price and Consensus International Seaways Inc. price-consensus-chart | International Seaways Inc. QuoteInternational Seaways has a price-to-earnings ratio (P/E) of 5.74 compared with 8.10 for the industry. The company possesses a Value Score of B.International Seaways Inc. PE Ratio (TTM) International Seaways Inc. pe-ratio-ttm | International Seaways Inc. Quote See the full list of top ranked stocks here. Learn more about the Value score and how it is calculated here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eagle Bancorp Montana, Inc. (EBMT): Free Stock Analysis Report International Seaways Inc. (INSW): Free Stock Analysis Report INTERNATIONAL MONEY EXPRESS, INC. (IMXI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
New Strong Buy Stocks for March 18th
DSGR, ANF, INSW, RCL and IMXI have been added to the Zacks Rank #1 (Strong Buy) List on March 18, 2024. Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:Distribution Solutions Group DSGR: This specialty distribution company which provides value-added distribution solutions to the maintenance, repair & operations, original equipment manufacturer and the industrial technologies markets,has seen the Zacks Consensus Estimate for its current year earnings increasing 16.5% over the last 60 days.Distribution Solutions Group, Inc. Price and Consensus Distribution Solutions Group, Inc. price-consensus-chart | Distribution Solutions Group, Inc. QuoteAbercrombie & Fitch ANF: This company which operates as a specialty retailer of premium, high-quality casual apparel for men, women, and kids, has seen the Zacks Consensus Estimate for its current year earnings increasing 16.2% over the last 60 days.Abercrombie & Fitch Company Price and Consensus Abercrombie & Fitch Company price-consensus-chart | Abercrombie & Fitch Company QuoteInternational Seaways INSW: This tanker company which, provides energy transportation services for crude oil and petroleum products, has seen the Zacks Consensus Estimate for its current year earnings increasing 16.1% over the last 60 day.International Seaways Inc. Price and Consensus International Seaways Inc. price-consensus-chart | International Seaways Inc. QuoteRoyal Caribbean Cruises RCL: This cruise company which, primarily serve the contemporary, premium and deluxe segments of the cruise vacation industry, which also includes the budget and luxury segments, has seen the Zacks Consensus Estimate for its current year earningsincreasing 10% over the last 60 days.Royal Caribbean Cruises Ltd. Price and Consensus Royal Caribbean Cruises Ltd. price-consensus-chart | Royal Caribbean Cruises Ltd. QuoteInternational Money Express IMXI: This company which offer wire transfer and other processing services to customers through network of sending and paying agents located primarily in the District of Columbia and Puerto Rico as well as throughout Latin America, has seen the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days.INTERNATIONAL MONEY EXPRESS, INC. Price and Consensus INTERNATIONAL MONEY EXPRESS, INC. price-consensus-chart | INTERNATIONAL MONEY EXPRESS, INC. Quote You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report International Seaways Inc. (INSW): Free Stock Analysis Report INTERNATIONAL MONEY EXPRESS, INC. (IMXI): Free Stock Analysis Report Distribution Solutions Group, Inc. (DSGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
50 Biggest Countries on Earth by Area
In this article, we will be taking a look at the 50 biggest countries on Earth by area. If you want to skip our detailed analysis, you can go directly to the 10 Biggest Countries on Earth by Area. Some of the Largest Economies by Area According to a report by the International Monetary Fund, […] In this article, we will be taking a look at the 50 biggest countries on Earth by area. If you want to skip our detailed analysis, you can go directly to the 10 Biggest Countries on Earth by Area. Some of the Largest Economies by Area According to a report by the International Monetary Fund, the 3 largest economies for 2024 are expected to be the United States, China, and Germany. The U.S. Commerce Department Bureau of Economic Analysis reported that the gross domestic product (GDP) in the United States increased by 3.3% in the fourth quarter of 2023, and the number of jobs also saw an increase of 2.7 million. Reports suggest that consumer spending in the US has been consistently increasing, with high retail sales. A 4.2% increase in citizens’ disposable income suggests that US citizens have the flexibility to spend and invest. Moreover, a 4.5% increase in personal savings rate is also a positive indicator that the economy of the US is stable, with citizens leading comfortable lives. On January 26, Reuters reported that China’s gross domestic product (GDP) increased by 5.2% in 2023, compared to the previous year. In 2023, China faced weak investor confidence and smaller businesses in China suffered without adequate investments. However, estimates suggest that the country’s GDP is set to increase by 5% in 2024. Canada is one of the biggest economies of the biggest countries on Earth by area. The country’s economy is heavily dependent on international trade as it accounts for one-third of the country’s GDP. According to data provided by World Economics, Canada’s GDP for 2023 was approximately $1.928 trillion. The services industry, real estate industry, and mining are key industries in the country and have helped sustain Canada’s economy. Business in the Biggest Countries on Earth Microsoft Corporation (NASDAQ:MSFT), Alibaba Group Holding Ltd (NYSE:BABA), and Royal Bank of Canada (NYSE:RY) are some of the biggest companies in the top 3 biggest countries on Earth by area. Let’s discuss some recent updates from these companies. You can also take a look at the 24 biggest industries in the world in 2024. Microsoft Corporation (NASDAQ:MSFT) is a leader in software development, services, solutions, and devices. The company’s latest achievement in diversifying its portfolio is the transformation of the healthcare industry in the US through AI technology. On March 11, Microsoft Corporation (NASDAQ:MSFT) announced its latest AI collaboration with leading healthcare providers in the US, Trustworthy & Responsible AI Network (TRAIN). Some of the prominent members of the network are Johns Hopkins Medicine, Vanderbilt University Medical Center, and Duke Health. The collaboration also includes OCHIN, a national network of health organizations, and TruBridge, a partner in community healthcare. The TRAIN AI will help members share best practices, increase the efficiency and productivity of the healthcare industry, and enable better care outcomes for all users. Alibaba Group Holding Ltd (NYSE:BABA) is the biggest company in China and dominates the e-commerce and retail industries. On February 7, Alibaba Group Holding Ltd (NYSE:BABA) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $2.64, surpassing EPS estimates by $0.01. The company reported a revenue of $36.19 billion and outperformed revenue estimates by $215.08 billion. Here are some comments from the Alibaba Group Holding Ltd (NYSE:BABA) Q4 2023 earnings call: In fiscal year 2023, we generated US$25 billion in free cash flow that was mainly contributed by this business, and we believe it will continue to generate strong free cash flow in the future. In the future, as a result of the reorganization, our additional source of funds will come from monetization of our consolidated businesses. As Daniel mentioned, our Board has approved the following transactions as initial phase of our capital management planning. First, for Alibaba International Digital Commerce Business Group, or AIDC, we are confident of its opportunities and growth prospect, and we plan to start its external financing process. The capital raise will assist the business group to expand into new geographic markets, invest in new technologies, grow its consumer and supplier base, strengthen its management team and develop and enhance its products and services to its customers globally. Royal Bank of Canada (NYSE:RY) is the largest bank and financial services company in Canada. It is a diversified financial services company that offers personal, commercial, wealth management, insurance, and capital markets services. The company has several subsidiaries such as the City National Bank, RBC Bank, RBC Royal Trust, and Brewin Dolphin. On February 28, Royal Bank of Canada (NYSE:RY) reported earnings for the fiscal first quarter of 2024. The company reported an EPS of $2.10 and outperformed estimates by $0.04. The revenue of the bank amounted to $9.93 billion for the quarter. Here are some comments from the company’s Q1 2024 earnings call: We believe there’s significant opportunity for continued growth and we will continue to invest in advisor recruitment across North America. In contrast, net interest income in our Wealth Management businesses were impacted by similar trends seen in Canadian Banking, namely a shift from deposits into higher-yielding products. RBC Global Asset Management’s AUM increased 6% from last year, benefiting from higher markets. Canadian retail net outflows this quarter were less than 1% of opening AUM, outperforming the industry, which has faced a challenging backdrop over the last year. We are confident that our leading franchises are well positioned to capture money in motion back into investment products, following a shift in the interest rate outlook and risk sentiment, particularly when it comes to fixed income strategies, which is one of our core strengths. With this context in mind, let’s look at the 50 biggest countries on Earth by area. You can also take a look at 25 Biggest Companies By Net Income In The World and 30 largest companies in the world by revenue. 25 Most Trustworthy Countries in the World Methodology We sourced our data for the biggest countries on Earth by area from CIA.GOV. We have ranked the countries by their total area in square kilometers, which is the total land area plus the area of all water bodies within a country’s territories. The 50 biggest countries on Earth by area are listed in ascending order below. 50 Biggest Countries on Earth by Area 50. Kenya Total Area (Km²) = 580,367 Ranked 50th on our list of the biggest countries on Earth by area is Kenya. It is a country situated in East Africa and is the 7th most populated country in Africa. The country has a rich heritage and a diverse wildlife in its vast landscapes that attracts tourists. The total area of Kenya is 0.58 million square kilometers. 49. Botswana Total Area (Km²) = 581,730 Botswana ranks 49th on our list of the 50 biggest countries on Earth by area. It is located in Southern Africa and shares a border with South Africa, Namibia, Zimbabwe, and Zambia. The main industry in Botswana is diamond mining. The total area of Botswana is 0.581 million square kilometers. 48. Madagascar Total Area (Km²) = 587,041 Madagascar is an island situated in the southwestern Indian Ocean and is the fourth largest island in the world. The country has rich natural resources and attracts scores of tourists each year with its breathtaking natural beauty. The total area of Madagascar is 0.587 million square kilometers. 47. Ukraine Total Area (Km²) = 603,550 Ukraine ranks 47th on our list of the biggest countries on Earth by area. It is an East European country, sharing a border with Russia which has left to the current Russo-Ukrainian war. Its other neighboring countries are Belarus, Slovakia, Poland, Romania, Hungary, and Moldova. The total area of Ukraine is 0.60 million square kilometers. 46. Central African Republic Total Area (Km²) = 622,984 The Central African Republic is a landlocked country situated in Africa. The total area of the Central African Republic is 0.62 million square kilometers. 45. Somalia Total Area (Km²) = 637,657 Somalia ranks 45th on our list of the 50 biggest countries on Earth by area. The total area of Somalia is 0.63 million square kilometers. 44. France Total Area (Km²) = 622,984 France is a country situated in northwestern Europe. The capital of the country is Paris, which attracts tourists with its history and culture. The total area of France is 0.62 million square kilometers. 43. South Sudan Total Area (Km²) = 644,329 South Sudan ranks 43rd on our list of the biggest countries on Earth by area. It is a landlocked country in northeastern Africa. The total area of South Sudan is 0.64 million square kilometers. 42. Afghanistan Total Area (Km²) = 652,230 Afghanistan is situated in Central Asia and South Asia. The country faces many political, economic, and social conflicts led by war that has resulted in an economic collapse. The total area of Afghanistan is 0.65 million square kilometers. 41. Burma Total Area (Km²) = 676,578 Burma ranks 41st on our list of the biggest countries in the world by area. It is a Southeast Asian country bordering with Bangladesh, China, Laos, and Thailand. The total area of Burma is 0.67 million square kilometers. 40. Morocco Total Area (Km²) = 716,550 Morroco ranks 40th on our list of the biggest countries in the world by area. It is situated in North Africa and has a diverse landscape with mountains, desserts, and old architecture. The total area of Morroco is 0.71 million square kilometers. 39. Zambia Total Area (Km²) = 752,618 Zambia ranks 39th on our list of the 50 biggest countries in the world. The total area of Zambia is 0.75 million square kilometers. 38. Chile Total Area (Km²) = 756,102 Chile is a western South American country. The country is most famous for its extreme natural disasters such as volcanic eruptions, tsunamis, and earthquakes. The total area of Chile is 0.75 million square kilometers. 37. Turkey Total Area (Km²) = 783,562 Turkey is a country connecting Europe and Asia. The country has a rich history and culture and attracts millions of tourists each year. The total area of Turkey is 0.78 million square kilometers. 36. Pakistan Total Area (Km²) = 796,095 Pakistan is a Central Asian country, that shares a border with India, Afghanistan, China, and Iran. The coastline of the country connects it to the Indian Ocean in the south. The total area of Pakistan is 0.79 million square kilometers. 35. Mozambique Total Area (Km²) = 799,380 Mozambique ranks 35th on our list of the 50 biggest countries on Earth by area. The total area of Mozambique is 0.799 million square kilometers. 34. Namibia Total Area (Km²) = 824,292 Namibia is a southern African country and is the driest and hottest country in sub-Saharan Africa. The country has been facing economic challenges due to political conflicts. The total area of Namibia is 0.82 million square kilometers. 33. Venezuela Total Area (Km²) = 912,050 Venezuela ranks 33rd on our list of the 50 biggest countries on Earth by area. The total area of Venezuela is 0.91 million square kilometers. 32. Nigeria Total Area (Km²) = 923,768 Nigeria ranks 32nd on our list of the 50 biggest countries on Earth by area. It is situated in West Africa and is the most populated country in Africa. The total area of Nigeria is 0.92 million square kilometers. 31. Tanzania Total Area (Km²) = 947,300 Tanzania ranks 31st on our list of the 50 biggest countries on Earth by area. The total area of Tanzania is 0.94 million square kilometers. 30. Egypt Total Area (Km²) = 1,001,450 Eqypt is situated in the northeast of Africa and Southwest of Asia. The country is most famous for its pyramids of Giza and the Sphinx. The total area of Egypt is 1.00 million square kilometers. 29. Mauritania Total Area (Km²) = 1,030,700 Ranking 29th on our list of the 50 biggest countries on Earth by area is Mauritania. The total area of Mauritania is 1.03 million square kilometers. 28. Bolivia Total Area (Km²) = 1,098,581 Bolivia is situated in western-central South America. The country borders with Brazil, Peru, Chile, Argentina, and Paraguay. The total area of Bolivia is 1.09 million square kilometers. 27. Ethiopia Total Area (Km²) = 1,104,300 Ethiopia ranks 27th on our list of the 50 biggest countries on Earth by area. The total area of Ethiopia is 1.1 million square kilometers. 26. Colombia Total Area (Km²) = 1,138,910 Colombia is situated in northwestern South America. It is bordered by Venezuela, Brazil, Peru, Panama, and Ecuador. The total area of Colombia is 1.13 million square kilometers. 25. South Africa Total Area (Km²) = 1,219,090 Ranking 25th on our list of the 50 biggest countries on Earth by area is South Africa. It is situated in the south of the African continent and borders with 6 countries. The total area is 1.21 million square kilometers. 24. Mali Total Area (Km²) = 1,240,192 Mali is a West African country and runs by the Niger River. The country has diverse landscapes and the main economies are cotton production, fishing, and herding. The total area of Mali is 1.24 million square kilometers. 23. Angola Total Area (Km²) = 1,246,700 Angola is a southwestern African country and has a diverse geography of rainforests, deserts, and highlands. The main industries in Angola are metals, petroleum, and precious gems. The total area of Angola is 1.2 million square kilometers. 22. Niger Total Area (Km²) = 1,267,000 Ranking 22nd on our list of the biggest countries on Earth is Niger. Situated in West Africa, it runs along the Niger River. The total area of Niger is 1.2 million square kilometers. 21. Chad Total Area (Km²) = 1,284,000 Chad is a landlocked region in Central Africa and home to the Sahara Desert. The country’s economy is driven by its livestock farming, oil, and agricultural industries. The total area of Chad is 1.2 million square kilometers. 20. Peru Total Area (Km²) = 1,285,216 Ranking 20th on our list of the biggest countries on Earth by area is Peru. The country is situated in South America near the Pacific coast. The total area of Peru is 1.2 million square kilometers. 19. Mongolia Total Area (Km²) = 1,564,116 Mongolia is an East Asian country and ranks 19th on our list of the biggest countries on Earth by area. The total area of Mongolia is 1.5 million square kilometers. 18. Iran Total Area (Km²) = 1,648,195 Iran is a Western Asian country, sharing a border with nine countries and the Caspian Sea. The country has faced multitudes of political and human rights issues over the past several decades, and the country is heavily reliant on its oil and gas reserves to maintain its economy. The total area of Iran is 1.6 million square kilometers. 17. Libya Total Area (Km²) = 1,759,540 Libya ranks 17th on our list of the biggest countries on Earth by area. The capital of the country is Tripoli and the main industry in Libya is oil. The total area of Libya is 1.7 million square kilometers. 16. Sudan Total Area (Km²) = 1,861,484 Sudan is situated in North Africa and is the third largest country in Africa. The country borders with Egypt, Eritrea, Ethiopia, Sudan, Central African Republic, Chad, Libya, and the Red Sea. The total area of Sudan is 1.8 million square kilometers. 15. Indonesia Total Area (Km²) = 1,904,569 Indonesia ranks 15th on our list of the biggest countries on Earth by area. It is situated in Southeast Asia and Oceania and comprises of nearly 17,000 islands. The country has the fourth-largest population in the world. The total area of Indonesia is 1.9 million square kilometers. 14. Mexico Total Area (Km²) = 1,964,375 Mexico is situated in North America and is the third largest country in Latin America. The main industries in the country are manufacturing, agriculture, oil production, and tourism. The total area of Mexico is 1.96 million square kilometers. 13. Saudi Arabia Total Area (Km²) = 2,149,690 Saudia Arabia is situated in the Middle East and West Asia and is the largest Middle Eastern country. It borders 8 countries and the Red Sea and holds great significance as the host of Islam’s holiest sites in Mecca and Medina. The total area of Saudi Arabia is 2.14 million square kilometers. 12. Greenland Total Area (Km²) = 2,166,086 Greenland ranks 12th on our list of the biggest countries on Earth by area. It is part of the Kingdom of Denmark and is known for its glaciers, icebergs, and its natural beauty. The total area of Greenland is 2.1 million square kilometers. 11. Democratic Republic of the Congo Total Area (Km²) = 2,344,858 The Democratic Republic of Congo ranks 11th on our list of the 50 biggest countries on Earth by area. It is situated in Central Africa beside the Congo River. The economy of the country is dependent on oil production. The total area of Congo is 2.3 million square kilometers. Click to continue reading and see the 10 Biggest Countries on Earth by Area. Suggested Articles: Wall Street Picked These 13 AI Stocks for 2024 12 Most Undervalued Biotech Stocks To Buy According To Hedge Funds 20 Best Marketing Newsletters to Subscribe to in 2024 Disclosure: None. 50 Biggest Countries on Earth by Area is published on Insider Monkey......»»
50 Cities With The Largest Population In The US
In this article, we list and discuss the 50 Cities With The Largest Population In The US. If you would like to skip our detailed discussion of the population change and growth trends in the States, you can go directly to 10 Cities With The Largest Population In The US. The United States of America […] In this article, we list and discuss the 50 Cities With The Largest Population In The US. If you would like to skip our detailed discussion of the population change and growth trends in the States, you can go directly to 10 Cities With The Largest Population In The US. The United States of America is a nation characterized by its vastness in terms of land, diversity, and population. With a total land area of over 3 million square miles, 50 states, and 19,495 incorporated cities, towns, and villages, the US is the fifth largest nation in terms of area worldwide. If we look at the population, according to Census Data, the country is home to a diverse population of 331,449,281 people. While the largest city in the US by area is Juneau, Alaska, the city only houses a population of 31,685. On the other hand, the largest city by population houses over eight million people, and is significantly smaller than Juneau in terms of land area. In other words, similar to the rest of the world, the population distribution in the US is not even. The Census Bureau projects that in the next 57 years, by 2080, the nation’s population is expected to increase by another 35 million and reach the figure of 370 million. However, by 2100, the United States will see a rapid population decline, losing 10 million people within twenty years. Note that mortality rates are not the only factor that affects the population of a place — in the case of the States, the population trends will be greatly influenced in the coming years by the nation’s decreased fertility rates, aging population, and growing international migration trends. Although already uneven, the population distribution within the US is expected to change even more in the coming years. Forecasts suggest that the suburban and rural areas will see a rise in population, while the urban centers will see a notable decline. Mostly, this is because of the US’s aging population, and economic factors like inflation. Given this factor, while the overall US population is expected to decline by the end of this century, there will be significant population distribution shifts as well. Some US cities will experience significant population growth, while others will see a sharp decline. As of 2024, the US cities with the largest population decline include Paradise, Nevada, and Jackson, Mississippi. (See also: 15 Biggest US Cities Facing Depopulation by 2100) On the other hand, according to the most recent Census data, the cities with the largest population growth include Dallas and other Texas cities. Some global key players also happen to have a significant presence in the largest cities in the US. For example, Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Amazon.com, Inc. (NASDAQ:AMZN). However, with the population distribution changes and overall population decline in the country, all companies may experience an eventual decline in the workforce. However, leading companies like Microsoft, Amazon, and Apple have already started investing in innovation and technology, especially AI, so they may not be as significantly impacted by the future decline in population as one would think. Microsoft Corporation (NASDAQ:MSFT) has made some notable investments in innovation and technology projects, such as Artificial Intelligence, to yield more efficiency and productivity. Last year in 2023, Microsoft Corporation (NASDAQ:MSFT) invested $13 billion in OpenAI, integrating AI technology into its Bing search engine, GitHub coding tools, Azure Cloud, sales and marketing software, and more. Similarly, Apple Inc. (NASDAQ:AAPL), a world leader in the smartphone industry, is also investing hugely in generative AI technology, Tim Cook, the CEO, said in the annual shareholder meeting. He further stated in the virtual meeting that Apple Inc. (NASDAQ:AAPL) will break new grounds with generative AI and assist in productivity, problem-solving, and more. On the other hand, Amazon.com, Inc. (NASDAQ:AMZN) has established a $1 billion venture investment program, supporting emerging technology companies with direct investments. As the company prioritizes productivity, it has made close to a dozen investments in companies with promising automating products, such as Rightbot. Overall, today, the presence of giant companies in the major cities in the US contributes to the economic growth and development of the cities and the country at large. Below, we discuss the cities with the largest population in the US as of 2024. 50 Cities With The Largest Population In The US Our Methodology For our list of the largest U.S. cities by population, we have sourced data from the U.S. Census Bureau, Population Division, and World Population Review (for Nashville city estimates only). Note that based on the most recent available data provided by the Census, our list is based on the 2022 estimates. For city-specific information mentioned in our list, we have sourced data from the US Census Bureau Quick Facts table. The list is in descending order, going from the 50th most populous US city to the 1st most populated one. By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 50 Cities With The Largest Population In The US 50. Wichita, Kansas Population Estimates (2022): 396,192 Located in south-central Kansas, Wichita is a vibrant and diverse city with a population density of 2,454 per square mile. The city offers great work opportunities, with a median household income of $60,712 and a per capita income of $34,393. 49. Tampa, Florida Population Estimates (2022): 398,173 Ranked 49th, Tampa is situated along Florida’s Gulf Coast and is a major business-centric city in the US with a per capita income of $45,586. As of the most recent available data from the Census Bureau, Tampa has a population density of 3,376 per square mile. 48. Bakersfield, California Population Estimates (2022): 410,647 With a land area of 149.78 square miles, Bakersfield is a city in California with several industrial factories, including some natural gas, mining, petroleum refining, distribution, and food processing companies. The city has a high population density of 2,693.7 people per square mile. 47. Tulsa, Oklahoma Population Estimates (2022): 411,867 Known as one of the most dangerous cities in the US, Tulsa is situated on the Arkansas River in Oklahoma state. It covers 197.53 square miles of land and has a population density of 2,091.1 people per square mile. 46. Minneapolis, Minnesota Population Estimates (2022): 425,096 Home to several parks, lakes, and cultural landmarks, Minneapolis is a major city in the state of Minnesota. Ranked 44th among the most populated US cities, Minneapolis is a city with a population density of 7,962.1 people per square mile. 45. Oakland, California Population Estimates (2022): 430,553 With a population density of 7,878.4 people per square mile, Oakland is one of the most densely populated cities in the United States. The city is known for stunning bay views, open spaces, and a pleasant Mediterranean climate. 44. Miami, Florida Population Estimates (2022): 449,514 Miami is a coastal metropolis city with a population density of 12,285.8 people per square mile. While Miami has a per capita income of $39,055, 20% of its residents live in poverty. 43. Long Beach, California Population Estimates (2022): 451,307 Located in Southern California, Long Beach is a large coastal city covering a total land area of 50.71 square miles. The city is known for its waterfront attractions, including the popular permanently docked RMS Queen Mary ship and the Aquarium of the Pacific. 42. Virginia Beach, Virginia Population Estimates (2022): 455,618 Virginia Beach is a coastal and largest city in Virginia and is located at the Chesapeake Bay on the Atlantic Ocean. It has a prosperous economy with a per capita income of $45,320 and a poverty rate of 8%. 41. Raleigh, North Carolina Population Estimates (2022): 476,587 Home to several renowned universities like North Carolina State University, Raleigh is the capital city of North Carolina, with several technology and scholarly institutions. As of the most recent available data, Raleigh has a population density of 3,178.9 people per square mile. 40. Omaha, Nebraska Population Estimates (2022): 485,153 Ranked 40th, Omaha in Nebraska is home to some Fortune 500 companies, including Berkshire Hathaway, Mutual of Omaha, Peter Kiewit, and Union Pacific. Being a financial services, logistics, and IT hub, Omaha has a healthy economy with a median household income of $70,202. 39. Colorado Springs, Colorado Population Estimates (2022): 486,248 Colorado Springs is a mountainous city in Colorado state with a population density of 2,451.2 people per square mile. As of the recent available data, Colorado Springs experienced a population growth of 1.5% from April 2020 to July 2022. 38. Atlanta, Georgia Population Estimates (2022): 499,127 Located among the foothills of the Appalachian Mountains, Atlanta is the capital of Georgia with a per capita income of $60,778. In terms of employment, it is one of the strongest economies in the country. 37. Kansas City, Missouri Population Estimates (2022): 509,297 Kansas City is best known for its barbecue, jazz heritage, and fountains, and is the 37th most populous city in the US according to the Census data. With a population density of 1,614.5 people per square mile and a total land area of 314.70 square miles, Kansas City is the largest city in the state of Missouri. 36. Mesa City, Arizona Population Estimates (2022): 512,498 Mesa, Arizona, is home to the largest community college in the United States. Apart from attracting multiple educational institutions from around the country, Mesa also offers a thriving cultural economy with multiple museums and the Mesa Arts Center. It has a median household income of $73,766. 35. Sacramento, California Population Estimates (2022): 528,001 Next on the list, Sacramento is the capital city of California and is full of scenic locations such as the California State Capitol building, Old Sacramento, and Southside Park. Sacramento has a predominantly white population, with 39.3% of the residents being white alone. 34. Fresno, California Population Estimates (2022): 545,567 While covering a land area of 115.18 square miles and a population density per square mile of 4,706.8 people, Fresno is one of the major cities in the San Joaquin Valley of California. As of 2022 (the most recent data available), Fresno has 19.0% of the foreign-born population. 33. Tucson, Arizona Population Estimates (2022): 546,574 Tucson is a mid-sized city in the state of Arizona, with a population density of 2,251.6 people per square mile. Owing to its healthy economy, good healthcare, and high livability scores, Tucson has also been ranked among the top 5 US cities to retire on $5000 a month. 32. Albuquerque, New Mexico Population Estimates (2022): 561,008 Albuquerque, the largest city in New Mexico, has a land area of 187.27 square miles and a population density of 3,014.7 per square mile. It’s a diverse city with 10.2% of the foreign-born population. 31. Milwaukee, Wisconsin Population Estimates (2022): 563,305 Known for its breweries and baseball, Milwaukee is the biggest and most populous city in Wisconsin, having a population density of 6,001.2 per square mile. Its population experienced a decline of 2.4% from April 2020 to July 2022. 30. Baltimore, Maryland Population Estimates (2022): 569,931 Known for its historical seaport, Baltimore is a major city in Maryland, covering a land area of 80.95 square miles. 19.6% of the population of this city is living in poverty according to the U.S Census Bureau. 29. Detroit, Michigan Population Estimates (2022): 620,376 Entering the top 30 cities with the largest population in the US, we have Detroit — the unhappiest city in America and the 29th most populated one, too. Detroit is also the largest city in Michigan, and according to the 2020 estimates, it has a population density of 4,606.8 people per square mile. 28. Memphis, Tennessee Population Estimates (2022): 621,056 Ranked 28th on the list of cities with the largest population in the US, Memphis is Tennessee’s most populated city and has higher crime rates than the national average. Memphis is also one of America’s unhappiest cities. 27. Louisville, Kentucky Population Estimates (2022): 624,444 Best known for the Kentucky Derby, a renowned horse race, Louisville has a population density of 4,606.8 people per square mile, according to the most recent available data. Louisville is Kentucky’s largest city. 26. Portland, Oregon Population Estimates (2022): 635,067 Situated on the Columbia and Willamette Rivers, Portland is the largest city in Oregon with a healthy per capita income of $52,577. 25. Boston, Massachusetts Population Estimates (2022): 650,706 The 25th most populous city in the United States, Boston is the capital and most populous city of Massachusetts. According to the Census Bureau’s most recent available data, Boston has a population density of 13,976.7 people per square mile. 24. Las Vegas, Nevada Population Estimates (2022): 656,274 Known for its nightlife, Las Vegas is the most populous city in the state of Nevada and one of the largest cities by population in the US. As per the most recent available data, the median household income is $66,356 in Las Vegas. 23. Washington, District of Columbia Population Estimates (2022): 671,803 Washington, D.C., is the capital city of the United States, with a high population density of 11,280.7 people per square mile. 22. El Paso, Texas Population Estimates (2022): 677,456 The 22nd largest city by population in the country, El Paso has a population density of 2,626.9 people per square mile on a land area of 258.41 square miles. 21. Nashville, Tennessee Population Estimates (2022): 677,519 Located in Davidson County, Nashville, the capital city of Tennessee, and is home to the Grand Ole Opry — America’s longest-running radio show. 20. Oklahoma City, Oklahoma Population Estimates (2022): 694,800 With a land area of 606.20 square miles, Oklahoma City is the eighth-largest city by area in the United States and the 20th-largest city by population. 19. Denver, Colorado Population Estimates (2022): 713,252 Denver, the capital of Colorado, has a population density of 4,674.3 people per square mile. Despite having one of the largest populations in the country, Denver is the fifth cleanest city in the US. 18. Seattle, Washington Population Estimates (2022): 749,256 Seattle is Washington’s largest state and is home to the futuristic Space Needle landmark, and a large tech industry. The e-commerce giant, Amazon.com, Inc. (NASDAQ: AMZN) is also based in Seattle and is the biggest private employer in the city. 17. San Francisco, California Population Estimates (2022): 808,437 Next on the list, San Francisco is the commercial and financial hub of California, with a median household income of $136,689. It has a population density of 18,629.1 people per square mile. 16. Indianapolis, Indiana Population Estimates (2022): 880,621 With a population density of 2,454.5 people per square mile, Indianapolis, the capital of Indiana, is the sixteenth most populated city in the US. It ranked #1 on our list of cities with the highest quality of life in the US. 15. Charlotte, North Carolina Population Estimates (2022): 897,720 Covering a land area of 308.29 square miles, Charlotte is a major city in North Carolina and a commercial hub with a per capita income of $47,476. 14. Columbus, Ohio Population Estimates (2022): 907,971 Ranked 14th, Columbus City has a population density of 4,116.3 people per square mile. It also has a high poverty rate of 18.1%, according to the Census data. 13. Fort Worth, Texas Population Estimates (2022): 956,709 Fort Worth is a modern city in Texas with a population growth rate of 4.1%, according to the Census’s 2022 data. The city offers a median household income of $72,726. 12. San Jose, California Population Estimates (2022): 971,233 San Jose is a beautiful city in California surrounded by rolling hills in Silicon Valley. The median household income in San Jose stood at $136,010 as of 2022 data. 11. Jacksonville, Florida Population Estimates (2022): 971,319 Ranked 11th, Jacksonville is the most populous city in the state of Florida. The city has a poverty rate of 14.8%, and it is one of the top 5 poorest cities in the US that are growing fast. Click to continue reading and see the 10 Cities With The Largest Population In The US. Suggested articles: 20 Large US Cities with the Fewest Homes for Sale 30 Most Underrated Cities in the US 30 Most Densely Populated Cities in the US Disclosure: None. 50 Cities With The Largest Population In The US is originally published on Insider Monkey......»»
Weaponization Of Crude: Russian Oil Refiners Under Drone Attack
Weaponization Of Crude: Russian Oil Refiners Under Drone Attack Brent crude prices climbed to their highest level in four and a half months last week following attacks on multiple Russian oil refineries by Ukrainian drones. Additionally, this morning, drone strikes on two more oil refining facilities were reported deep within Russia. Bloomberg reports drone strikes targeted two oil refining facilities in Russia's Samara region, more than 620 miles from the Ukrainian border. A petroleum product processing unit caught fire on the territory of the Rosneft PJSC oil refinery in Syzran, RIA Novosti reported, citing Dmitry Azarov, the region's governor. The plant's design capacity is 8.5 million barrels per year or about 170,000 barrels per day. ... other drones attacked the Novokuybyshevsk refinery, according to Russian media. -Bloomberg Get ready to update your Russian oil refiners Bingo card! Syzran refinery, located 1000 km deep inside Russia, is currently offline. pic.twitter.com/fAtjga9xF0 — Maria Avdeeva (@maria_avdv) March 16, 2024 Russian Telegram channels report drone attacks on two enterprises at once in Samara region. Local residents say about explosions at the Syzran refinery. The area of fire is 500 square meters. Other drones attacked the Novokuybyshevsk refinery, according to Russian media. pic.twitter.com/2uB0ILz26v — Anton Gerashchenko (@Gerashchenko_en) March 16, 2024 Ukraine has been ramping up drone attacks on crude processing facilities across Russia. On Wednesday, Rosneft PJSC's Ryazan plant near Moscow was hit by a drone attack. This refinery is one of the largest in the country. A day earlier, Lukoil refinery in western Russia was hit by a drone attack. BREAKING: Ukraine continues its latest campaign of drone strikes against critical infrastructure in Russia. Just hours ago, Ukrainian drones struck on the largest oil refineries in Russia. Rosneft’s Ryazan facility refines 17 million tons of oil a year pic.twitter.com/PaHPy9P4ij — Visegrád 24 (@visegrad24) March 13, 2024 The wave of drone strikes on Russian crude-processing facilities started in January, with full intentions by Ukraine to cripple the fuel supply that funds Moscow's war machine. Here are the major Russian refineries that drones have targeted: Last month, Ukraine's "drone czar," Minister of Digital Transformation Mykhailo Fedorov, explained to Reuters that its manufacturing base can produce thousands of drones capable of hitting targets at "300, 500, 700, and 1,000 kilometers." The full extent of the damage caused by strikes this year isn't clear, but the attacks caused Msocow to place a six-month ban on gasoline exports starting on Mach 1. This week, the Brent crude market wasted no time pricing increasing war risks by sending prices above $85 a barrel, the highest level since early November. Despite two years of war and relentless attacks on Russian refineries, Moscow's energy industry has proved resilient, and flows have shifted from Europe to China and India at heavily discounted prices. While Ukrainians target Russian refineries, David Asher, a senior fellow at Hudson Institute, recently penned a note that discusses the weaponization of crude could be the next big financial shock to the global economy. Given the mounting risks in the Middle East, Asher said on slide nine, "Global oil shock could trigger a crisis like 2007-2008." He also noted, "Iran is Preparing For Oil War: Markets Ignore Growing Risk." Asher warned: It's only a matter of time before Iran-backed Yemen's Houthi rebels start targeting key oil facilities in Saudi Arabia. A perfect storm of higher crude prices continues to brew as the world's refineries have become major targets. Tyler Durden Sat, 03/16/2024 - 13:25.....»»
Harbour Energy (HBRIY) JV Confirms Natural Gas Discovery
Harbour Energy (HBRIY) and its joint venture partners confirm a natural gas discovery in the North Sea, through their exploration efforts in the region. Harbour Energy plc HBRIY and its joint venture partners have confirmed a natural gas discovery in the North Sea, offshore Norway. The discovery, made in well 15/9-25, was awarded in Awards in Pre-defined Areas (APA) in 2021. It is the first well in License 1138.The gas was proven in wells 16/7-2 and 16/7-10, which were drilled in 1982 and 2011, respectively. The drilling operations for the well 15/9-25 were carried out by the Noble Integrator rig, situated toward the northeast of the Sleipner area. It is located about 210 km west of Stavanger.The estimated overall gas volume is 1-3 million standard cubic meters of oil equivalent (Sm3).According to the Norwegian Offshore Directorate, Harbour Energy and its partners — Sval Energi and Aker BP — are evaluating the technical and financial feasibility of tying the discovery to existing infrastructure.The Norwegian Offshore Directorate has also reported that the primary motive of drilling the well was to discover petroleum in Middle Jurassic and Triassic reservoir rocks within the Hugin and Skagerrak formations.The secondary goal was to delineate gas proven in wells 16/7-2 and 16/7-10 within reservoir rocks in the Ty Formation from the Palaeocene.The Well 15/9-25 was drilled up to a measured depth of 2872 meters below the sea level. It encountered a 22-meter-thick layer of aquiferous sand in the Hugin formation. The sand is known to have an excellent reservoir quality. The well also encountered a 10-meter gas column in a 118 m thick sandstone reservoir, within the Ty formation with outstanding reservoir quality.Although the well was not formation tested, extensive data acquisition and sampling were conducted. The well was terminated in the Smith Bank Formation, inside the Upper Triassic. The well has been permanently plugged and abandoned.HBRIY’s joint venture partners Sval Energi and Aker BP are exploration and production companies based in Norway.Zacks Rank and Other Key PicksCurrently, HBRIY carries a Zacks Rank #2 (Buy).Apart from Harbour Energy, investors interested in the energy sector might also consider Sunoco LP SUN, Archrock Inc. AROC and Energy Transfer LP ET, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco LP is one of the largest distributors of motor fuel in the United States. The company distributes fuel to independent dealers, commercial customers, convenience stores as well as distributors. Sunoco’s current dividend yield is greater than that of the composite stocks in the industry. SUN could be a preferred stock for income-focused investors who seek consistent returns.Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.Energy Transfer is a midstream player that owns and operates one of the most diversified portfolios of energy assets in the United States. With a pipeline network extending more than 125,000 miles, its network spans over 44 states. With a presence in all the major U.S. production basins, the company’s outlook seems positive. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sunoco LP (SUN): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis Report Harbour Energy PLC Sponsored ADR (HBRIY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
15 Countries that Speak English the Best
In this article, we will talk about the 15 countries that speak English the best. If you want to skip our detailed analysis, you can go directly to the 5 Countries that Speak English the Best. English is one of the most spoken languages in the world, and the number of English speakers is growing […] In this article, we will talk about the 15 countries that speak English the best. If you want to skip our detailed analysis, you can go directly to the 5 Countries that Speak English the Best. English is one of the most spoken languages in the world, and the number of English speakers is growing worldwide. According to Tomedes, the number of English speakers increased from 1.05 billion in 2011 to 1.30 billion in 2021, showcasing a growth rate of 23.31% in a decade. Moreover, English is also one of Europe’s most commonly spoken languages. According to data from Eurostat, more than 88% of the pupils in upper secondary education in the European Union were learning English as a foreign language in 2021. To read more about languages, you can look at the Top 25 Most Spoken Languages In The World 2024 and 15 Most Valuable Languages to Learn for International Business. Economic Outlook of Europe The European economy is suffering from delayed rebound growth. However, on the bright side, inflation is easing faster. According to the Winter 2024 report by the European Commission, the economic activity in the euro area and the European Union expanded by only 0.5% in 2023. Furthermore, the growth outlook forecasts for 2024 have been revised to 0.9% in the European Union and 0.8% in the euro area. Despite the cut-down, the economy is expected to grow at 1.7% and 1.5% for the European Union and euro area, respectively. To learn more about European markets you can read 17 European Countries with the Highest Unemployment Rates and the 15 Top Performing European Stocks So Far in 2024. The slower-than-expected growth rates of the European economy are attributed to factors including modest growth for the past two consecutive years, owing to the pandemic, falling household purchasing power, and collapsing external demand. Therefore, the economy entered 2024 on a weaker footing, leading to a subdued growth projection for the year. On February 22, Reuters reported euro zone business activity was inching towards growth in February as the dominant services sector broke a six-month streak of contraction, thus easing the business activity. Moreover, the HCOB’s preliminary composite Purchasing Manager’s Index (PMI), compiled by S&P Global, increased from 47.9 in January to 48.9 in February 2024, ahead of expectations of 48.5. Top Companies Driving Growth in European Markets Some of the leading players in the European economy include TotalEnergies SE (EPA:TTE), Stellantis NV (BIT:STLAM), and BP plc (LON:BP). TotalEnergies SE (EPA:TTE) is a leading multinational multi-energy company based in France. The company operates through drilling, oil and gas production, refining, transporting, and storing petrochemical products. TotalEnergies SE (EPA:TTE) also involves itself in power generation through oil, gas, and renewable energy resources. Operations of TotalEnergies SE (EPA:TTE) extend to Europe, Asia-Pacific, Africa, the Middle East, and America. On March 4, TotalEnergies SE (EPA:TTE) reported it signed a partnership with Bapco Energies to enhance the trading of petroleum products. As a result of this partnership, TotalEnergies SE (EPA:TTE) will support Bapco Energies in optimizing its Sitra refinery, which is being upgraded to trade in petroleum products. Stellantis NV (BIT:STLAM) is a global automobile manufacturing company. The company designs, engineers, and distributes cars and automobile parts worldwide. Stellantis NV (BIT:STLAM) also operates in car retail and dealer financing, leasing, and rental services through its subsidiaries and partnerships. Some of the leading car brands by Stellantis NV (BIT:STLAM) include Alfa Romeo, Dodge, Fiat, Jeep, and Citroen. The company is headquartered in the Netherlands. On March 6, Stellantis NV (BIT:STLAM) announced its partnership with NEXUS Automotive International to boost the parts and after-sale market at a global level. As a result of this strategic partnership, NEXUS Automotive International customers will get Stellantis NV (BIT:STLAM) 360-degree products and services along with the current portfolio of NEXUS and will expand the reach of NEXUS Automotive International to North America, the Middle East, and Asia Pacific regions. BP plc (LON:BP) is a leading oil and gas-producing company based in London. The company engages in the exploration, development, and delivery of hydrocarbon products to more than 70 countries around the globe. BP plc (LON:BP) has an international presence in Asia, Africa, Europe, and North and South America. On February 2, BP plc (LON:BP) announced the appointment of Kate Thomson as Chief Financial Officer and board member. She immediately assumed office and has been the interim Chief Financial Officer since September 2023. Moreover, Kate Thomson has been with BP plc (LON:BP) since 2004, holding many senior-level financial roles, including the group treasurer. On February 6 BP plc (LON:BP) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $1.07 and beat estimates by $0.07. The company’s revenue for the quarter amounted to $52.1 billion. Here are some comments from BP plc’s (LON:BP) Q4 2023 earnings call: Over the past 4 years, we’ve been accelerating our efforts to create a third value chain, lower carbon power and hydrogen. For example, using solar-wind to create lower carbon hydrogen to provide to our plants and customers and using those electrons to service the growing electricity demand through our EV charging business. Why? Because we can deliver higher margins with lower emissions. All of these chains are then optimized by our fantastic trading organization, driving superior returns to what a pure play can deliver. And the more we can interlink them, the more we can expand the returns. Over the past 4 years, we’ve delivered, on average, around a 4% uplift to group return on average capital employed across these chains through these efforts. With this context, let’s look at the 15 countries that speak English the best. spaxiax/Shutterstock.com Our Methodology To gather the list of 15 countries that speak English the best, we sourced our data from the EF English Proficiency Index Report 2023. The English Proficiency Index uses English Proficiency (EF EPI) scores to rank countries across different proficiency bands, including very high, high, moderate, low, and very low. We selected the top 15 countries with the highest EPI scores and ranked them in ascending order. Please note that we only looked for non-English speaking countries and ruled out the United States, United Kingdom, Australia, and Canada. Moreover, we have cited GDP per capita and population figures, as of 2022, for each country from the World Bank. 15 Countries that Speak English the Best 15. Romania EPI Score: 596 Romania ranks first on our list. It is a European country with a population of approximately 19.04 million and a GDP per capita of $15,076.5. It ranks high on the English Proficiency Index 2023 with a score of 596. 14. Finland EPI Score: 597 Finland ranks 14 on our list of best English-speaking countries in the world. It is in Europe, with a population of 5.56 million and a GDP per capita of $53,654.8. It ranks under the ‘high proficiency’ countries per the English First EPI Index. It has an EPI score of 597. 13. Poland EPI Score: 598 Poland is another European country with a population of 36.8 million and a GDP per capita of $18,688. Though the official language of the country is Polish, it still ranks high on the English proficiency index with an EPI score of 598. 12. Greece EPI Score: 602 Greece ranks 12th on our list. It is situated in Europe and is a $217.58 billion economy with a GDP per capita of $20,867.3. The official language of Greece is Greek, but it still ranks under the ‘very high’ category of the English proficiency index, with an EPI score of 602. 11. Croatia EPI Score: 603 Croatia is a small European country. It has a population of 3.85 million, and Croatian is its official language. Croatia ranks 11th on our list of 15 countries that speak English the best, with an EPI score of 603. 10. Germany EPI Score: 604 Germany is another European country with a population of 83.8 million and a GDP per capita of $51,203.5. Though German is the official language of Germany, it still ranks higher on the English proficiency index with an EPI score of 604. 9. South Africa EPI Score: 605 Ranking 9th on our list, South Africa. It is situated at the southernmost end of the African continent. It has a population of 59.9 million and has many official languages. It ranks high on the English proficiency index with an EPI score of 605. 8. Portugal EPI Score: 607 Portugal is a southern European country that borders itself with Spain. It has a population of 10.4 million and speaks Polish as its official language. Poland ranks 8th on our list and has an EPI score of 607. 7. Belgium EPI Score: 608 Belgium is a Western European country with a population of 11.69 million. It has a GDP of $594.1 billion and a GDP per capita of $51,247. Belgium has three official languages, including Dutch, French, and German. It ranks under the “very high” category of the English proficiency index with an EPI score of 608. 6. Sweden EPI Score: 609 Sweden is a Scandinavian country with a population of 10.49 million. Thousands of coastal islands and glaciated mountains categorize the country. Sweden’s official language is Swedish, but it still ranks high in the English proficiency ranking, with an EPI score of 609. Click to continue reading and see the 5 Countries that Speak English the Best. Suggested Articles: 20 Biggest Natural Gas Companies in the World Analysts on Wall Street Lower Ratings for These 10 Stocks 11 Best Department Store Stocks To Invest In Disclosure: None. 15 Countries that Speak English the Best is originally published on Insider Monkey......»»
Key Analysis Sees Red Sea Shipping Diversions Starting To Boost Oil Demand
Diverting shipping away from the Red Sea and Suez Canal and around the Cape of Good Hope south of Africa is beginning to impact global demand for petroleum, and it shows in the monthly report by the International Energy Agency. The IEA's report for March, released Thursday, sees increased demand for bunker fuel–the fuel that is used to power ships– because the dive read more.....»»
Putin backs OPEC production cuts but warns of losing oil-market share to the US
Putin backed the production cuts, but said the output is dropping "while it grows in other countries such as the US, and we may lose markets." In this pool photograph distributed by Russian state agency Sputnik, Russia's President Vladimir Putin gives an interview to US talk show host Tucker Carlson at the Kremlin in Moscow on February 6, 2024.GAVRIIL GRIGOROV vias Getty Images Vladimir Putin lauded OPEC's oil cuts but worried about losing market share to producers outside the bloc, like the US [T]he output is dropping while it grows in other countries such as the US, and we may lose markets." He emphasized that his mention of market share risk was merely "an alternative viewpoint." Vladimir Putin expressed his support for OPEC and its allies' oil production cuts, but fretted about possibly jeopardizing the oil cartel's market share versus non-member oil stats like the US.Russia's leader lauded the positive impact of OPEC's cuts on the country's energy revenue while acknowledging the potential for a dip in its share of the crude market during his meeting with winners of a governmental competition on Tuesday, Bloomberg reported. "OPEC+ does help us hold up the oil price and ensure budget revenue," Putin said on Rossiya 24 state TV. "Yet the output is dropping while it grows in other countries such as the US, and we may lose markets."He underscored his unwavering support for Russia's collaboration with OPEC, clarifying that his mention of market share risk was merely "an alternative viewpoint."Russia's oil and gas industry, the Kremlin's main funding source, has faced mounting pressure due to Putin ramping up military expenses to fund the war in Ukraine, which has also sparked waves of sanctions from the Western countries. Since the war began in 2022, the West and its allies have unleashed a barrage of sanctions, with G7 nations imposing price caps on Moscow's petroleum to curb its oil revenues that fund the war. Crude prices jumped at the start of 2024, buoyed by OPEC's planned 2.2 million barrel daily production cut for the first quarter. Russia is poised to further slash oil production and exports in April, May, and June, building on an earlier 500,000 barrel per day reduction pledged by Moscow to be upheld throughout 2024.Meanwhile, the US crude production hit historic highs for six straight years, with production peaking last year at 12.9 million barrels per day, surpassing the 2019 global record of 12.3 million barrels per day including condensate, the US Energy Information Administration wrote on Monday.Read the original article on Business Insider.....»»
WTI Turns Green After API Reports Across-The-Board Inventory Draws
WTI Turns Green After API Reports Across-The-Board Inventory Draws Oil prices slipped lower today after uglier than expected inflation sent yields higher (whipsawed wider markets) and perhaps more notably, OPEC said its latest supply cuts had stalled as Iraq and Libya producing more than their quota. Slightly higher-than-expected CPI numbers are not likely to “rock the boat,” said Ole Hansen, a commodity strategist at Saxo Bank A/S, “overall a report that is unlikely to impact the thinking.” Analysts expected a seventh straight weekly build in crude stocks... API Crude -5.52mm (+400k exp) Cushing -998k Gasoline -3.75mm Distillates -1.16mm After 6 straight weeks of builds, API surprised by reporting a large crude draw last week. In fact, stockpiles drew-down across the whole complex... Source: Bloomberg WTI was trading around $77.75 ahead of the print and rallied after... And while crude prices declined, wholesale gasoline prices are soaring... and so are pump prices... Source: Bloomberg There’s a risk that premium gasoline prices could reach a multi-year high this year, said Mukesh Sahdev, head of oil trading and downstream research at Rystad Energy AS. “There’s not a lot President Biden can do in time for the election, if this happens” he said. “Strategic petroleum reserves are low, and there are few levers for the US government to pull to lower gasoline prices.” Of course, we are sure Biden will blame gas stations if prices go up. Tyler Durden Tue, 03/12/2024 - 16:40.....»»
US Gasoline Prices Rise For The Second Consecutive Week
US Gasoline Prices Rise For The Second Consecutive Week By Charles Kennedy of OilPrice.com U.S. gasoline prices rose for a second week in a row, to average $3.40 per gallon on Monday, up by 6.2 cents from a week ago, amid rising demand, ongoing refinery maintenance, and the switch to summer gasoline, GasBuddy said today. Still, the national average price of regular gasoline is 4.5 cents per gallon lower than a year ago, said GasBuddy, which has compiled price data from more than 12 million individual price reports covering over 150,000 gas stations. The national average price of diesel, on the other hand, has fallen by 1.3 cents in the past week and stands at $4.02 per gallon on Monday, which is 30 cents lower than this time last year, according to GasBuddy’s data. American drivers could be in for some relief in the coming weeks, due to a rise in U.S. refinery utilization in the most recent week, and a possible earlier end to refinery maintenance, said Patrick De Haan, head of petroleum analysis at GasBuddy. “The national average price of gasoline has seen a continued but measured rise compared to last week, but the pace of increases has slowed slightly in the last few days. With government data showing a rise in refinery utilization last week, there may be some good news on the horizon for drivers,” De Haan said. “Much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline, and rising demand,” the expert noted. The changeover is still ongoing so the upward trend is likely to persist, but higher refinery output could ease some of the upward pressure on gasoline prices, according to De Haan. More expensive international crude prices are also to blame for the rise in U.S. gasoline prices, AAA said last week. “Spring is nearly here, with longer days, better weather, and more opportunities to hit the road,” AAA spokesperson Andrew Gross said. “And we are seeing this reflected in rising gasoline demand. But remember, we see this trend every year.” Tyler Durden Tue, 03/12/2024 - 13:00.....»»
6 Blue Chip Dividend Stocks to Buy in March
Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations. A recent study from the Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized […] The post 6 Blue Chip Dividend Stocks to Buy in March appeared first on 24/7 Wall St.. Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations. A recent study from the Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized return of 9.18% over the past half-century (1973-2022). Over the same timeline, this was more than double the annualized return for non-payers (3.95%). At 247 Wall St., we always remind our readers about the impact total return has on portfolios because it is one of the best ways to improve the chances of overall investing success. Again, total return is the combined increase in a stock’s value plus dividends. For example, if you buy a stock at $20 that pays a 3% dividend, and it goes up to $22 in a year, your total return is 13%—10% for the increase in stock price and 3% for the dividends paid. With a massively overbought stock market and the chances for a significant correction this Spring, we screened our 24/7 Wall St. Dividend Stock research database, looking for solid companies that pay big and dependable dividends. Six Blue-Chip stocks that look like solid ideas for March and the rest of 2024 hit our screens. All are rated Buy on Wall Street. Chevron This integrated giant is a safer way for investors looking to position themselves in the energy sector. It pays a rich 4.35% dividend, and Buffett added 16 million shares in the first quarter. Chevron Corporation (NYSE: CVX) engages in integrated energy and chemicals operations worldwide through its subsidiaries. The company operates in two segments: Upstream Downstream The Upstream segment is involved in the following: Exploration, development, production, and transportation of crude oil and natural gas; Processing, liquefaction, transportation, and regasification associated with liquefied natural gas Transportation of crude oil through pipelines Transportation, storage, and marketing of natural gas, as well as operating a gas-to-liquids plant The Downstream segment engages in: Refining crude oil into petroleum product Marketing crude oil, refined products, and lubricants Manufacturing and marketing renewable fuels Transporting crude oil and advanced products by pipeline, marine vessel, motor equipment, and rail car Manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives Chevron announced in the fall that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The transaction’s total enterprise value, including debt, is $60 billion. Citigroup This is a top bank, where Warren Buffett bought a massive $2.5 billion worth of stock back in the summer of 2022 and pays a dependable 3.65% dividend. Citigroup Inc. (NYSE: C) is a leading global diversified financial service company that provides consumers, corporations, and governments with a broad range of financial products and services. Citigroup offers: Consumer banking and credit Corporate and investment banking Securities brokerage Transaction services Wealth management services Citi operates and does business in more than 160 countries/ jurisdictions in North America, Latin America, Asia, Europe/Middle East and Africa (EMEA). Trading at a still cheap 9.5 times estimated 2024 earnings; this company looks very reasonable in a volatile stock market and a dramatically lagged sector. Crown Castle International This top cell tower company offers incredible growth and income possibilities with a fat 5.54% dividend. Crown Castle International Corp. (NYSE: CCI) is one of the largest U.S. wireless tower companies, with over 40,000 towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every primary U.S. market. The company’s core business is leasing space on its wireless towers, primarily to wireless carriers, government agencies, and broadband data providers. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology, and wireless service – bringing information, ideas, and innovations to the people and businesses that need them. Crown Castle is one of the best stocks in the sector for more conservative investors. Its high yield distribution and low volatility make it a good holding for accounts seeking growth, income, and less risk. Pfizer The company was established in 1849 in New York by two German entrepreneurs. This top pharmaceutical stock was a massive winner in the COVID-19 vaccine sweepstakes but has been crushed as many are not getting boosters. Pfizer Inc. (NYSE: PFE) discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide and pays a hefty 6.17% dividend, which has risen yearly for the last 14 years. The company offers medicines and vaccines in various therapeutic areas, including: Cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands Biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands Sterile injectable and anti-infective medicines and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands. Pfizer also provides medicines and vaccines in various therapeutic areas, such as: Pneumococcal disease, meningococcal disease, tick-borne encephalitis COVID-19 under the Comirnaty/BNT162b2, Nimenrix, FSME/IMMUN-TicoVac, Trumenba, and the Prevnar family brands Biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel, Inflectra, Eucrisa/Staquis, and Cibinqo brands Amyloidosis, hemophilia, and endocrine diseases under the Vyndaqel/Vyndamax, BeneFIX, and Genotropin brands Philip Morris International This company has continued to grow its global market share and pays a fat 5.61% divided. Philip Morris International Inc. (NYSE: PM) is one of the largest international cigarette producers, with a share of 28% of the global cigarette/heated tobacco market. Key combustible brands include: Marlboro Parliament L&M The company is commercializing IQOS, a heat-not-burn product, in over 40 markets, which could drive earnings in the future. Most on Wall Street believe Philip Morris International offers superior underlying growth prospects, both near-term and long-term. The share price has been weak lately as investors have questioned the growth potential of its reduced-risk products. All sales are outside the United States. Verizon Communications This top telecommunications company offers tremendous value and pays investors a 6.73% dividend. Verizon Communications, Inc (NYSE: VZ) is one of the largest US telecom companies. It provides wireless and wireline services to retail, enterprise, and wholesale customers. The company’s wireless network serves approximately 120 million mobile connections with 115 million postpaid subscribers. Verizon’s wireline business has undergone a period of secular decline due to wireless substitution and cable competition. Verizon also provides converged communications, information, and entertainment services over America’s most advanced fiber-optic network and delivers integrated business solutions to customers worldwide.No Commission Fees, No Minimums, No Velvet Ropes. (Sponsored) Robinhood revolutionized commission free investing, and it continues to do so today. With a few simple taps you can trade stocks like Nvidia and Amazon, market beating mutual funds, and trade options with Robinhood Financial. FDIC insurance coverage is just another benefit. And, you can buy and sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) with Robinhood Crypto. Sign up today — click here to start your journey. The post 6 Blue Chip Dividend Stocks to Buy in March appeared first on 24/7 Wall St.......»»
Overseas Shipholding Group, Inc. (NYSE:OSG) Q4 2023 Earnings Call Transcript
Overseas Shipholding Group, Inc. (NYSE:OSG) Q4 2023 Earnings Call Transcript March 11, 2024 Overseas Shipholding Group, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, everyone, and welcome to the Q4 2023 Overseas Shipholding Group, Inc. Earnings Conference […] Overseas Shipholding Group, Inc. (NYSE:OSG) Q4 2023 Earnings Call Transcript March 11, 2024 Overseas Shipholding Group, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, everyone, and welcome to the Q4 2023 Overseas Shipholding Group, Inc. Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note, today’s event is being recorded. At this time, I’d like to turn the floor over to Sam Norton, President and CEO of Overseas Shipholding Group. Sir, please go ahead. Sam Norton: Thank you, Jamie. Welcome, and thank you for joining our presentation of OSG’s fourth quarter and full year 2023 financial results and for allowing us to provide commentary on those results and additional color as to the current state of our business and the opportunities and challenges that lie ahead. As usual, I am joined in this presentation by our CFO, Dick Trueblood. To start, I would like to direct everyone to the narrative on Pages 2 and 3 of the PowerPoint presentation available on our website regarding forward-looking statements, estimates and other information that may be provided during the course of this call. The contents of that narrative are an important part of this presentation, and I urge everyone to read and consider them carefully. We will be offering you more than just a historical perspective on OSG today, and our presentation includes forward-looking statements, including statements about anticipated future results. These statements are subject to uncertainties and risks. Actual results may differ materially from those contemplated by our forward-looking statements and could be affected by a variety of factors, including factors beyond our control. For a discussion of these factors, we refer you to our SEC filings, particularly our Form 10-K for 2023, which we anticipate filing later today, and which can be found at the SEC’s Internet site, www.sec.gov, as well as our own website, www.osg.com. Forward-looking statements in this presentation speak only as of today, and we do not assume any obligation to update any forward-looking statements, except as may legally be required. In addition, our presentation today includes certain non-GAAP financial measures, which we define and reconcile to the most closely comparable GAAP measure in our earnings release, which is posted on our website. Before discussing our 2023 performance and offering a perspective on how we see 2024 shaping up, I would like to comment briefly on the unsolicited non-binding indication of interest submitted to our Board by Saltchuk Resources to acquire the OSG shares it does not already own for $6.25 per share in cash. As we have previously disclosed, our Board is carefully considering Saltchuk’s indication of interest in consultation with our outside financial and legal advisors and is committed to acting in the best interest of our stockholders. Because the Board’s work is ongoing, we do not intend to comment further on this matter during this call or to respond to questions regarding Saltchuk’s indication of interest or the possibility of any potential transaction. We respectfully ask that your questions be focused on the company’s financial results and ongoing business activities. We couldn’t be more pleased with our 2023 results. Following the positive results reported in prior quarters, it would be appropriate to state that we have stuck the landing for our fourth quarter performance. The quarter’s contribution led to meeting our adjusted EBITDA target of $175 million for the full year, a 23.1% gain over 2022 results despite having three fewer vessels in operation in 2023. The benefits of charterparties fixed at escalating rates over the past several quarters are now being realized, producing strong cash flow and providing the means to make continued progress in meeting our key capital allocation goals. Previously announced capital investments in our Alaskan tanker assets, the purchase of 1.425 million shares during the quarter, and the declaration of our first dividend payment in many years underscore this point. Strong fundamentals have continued to support charterer interest in our vessels and allowed us to maintain and extend our preferred contract profile of predominantly medium-term charters. As has been the case for most of the past year, healthy refining margins and robust international tanker rates have supported strong performance across our fleet. Cash flow from operations continues to meet or exceed our expectations, giving us continued confidence that our business plan is working. Significantly, at year-end, we have entered into an employment contract for the Alaskan Explorer to transport U.S. Gulf Coast crude oil to one of our Delaware Bay refining customers, demonstrating the existence of employment options for this class of vessel outside its traditional Alaskan market. Taken together with three other vessel fixtures concluded in early 2024, we have added 116 months of forward charter cover since our last report, which has increased the value of our forward charter book to over $860 million in time charter equivalent earnings as of the end of March 2024. Also of note on the chartering front has been our exercise of extension options allowed for under the terms of the bareboat agreement with the owner of the Overseas Tampa. The charter period has been extended for five years commencing in June 2025. Given this backdrop, we consider OSG to be well positioned now and over the long term to generate strong cash flows in what we expect to be a durably balanced market characterized by stable demand and constrained supply. Several key developments during 2023 have served to bolster our confidence in our current business plan. Most visible to even casual observer of shipping markets has been the persistent influence of geopolitical tensions outside of the U.S. that have severely disrupted historical trading patterns for crude oil and its refined products. Since December 2022, the EU has, in response to the war in Ukraine, banned waterborne crude imports from Russia, and the G7 nations have implemented price caps limiting the global price paid for Russian oil and its refined products. Other countries have stepped in to purchase these commodities at a discount to world prices. More recently, the conflict in the Middle East has impacted vessels transiting the Red Sea, where vessels have been the target of Houthi missile and drone attacks, causing many vessels to avoid the Red Sea transits and to instead make longer voyages around the Cape of Good Hope. These circumstances have collectively resulted in the redirection of crude oil and refined product trade flows and increased aggregate ton mile demand. Although the United States was not a major importer of Russian or Persian Gulf oil, its markets have nonetheless been impacted by these global events. Historically high international freight costs have resulted from disrupted trade patterns. Supply constraints now exist in markets that were alternative sources of supply competing against domestic products shipped on Jones Act tonnage. As a result, traders now seem to favor domestic product sources over overseas alternatives, giving strong support to the use of Jones Act vessels. This increase in demand has resulted in higher utilization levels and higher rates for Jones Act vessels. Domestically, the continued impact of government policies encouraging the use of renewable fuels has driven strong demand growth for transporting renewable diesel and its feedstock components from production sources along the Gulf Coast to markets along the U.S. West Coast. California’s Low Carbon Fuel Standard regulation, in particular, have stimulated the use of renewable diesel, which is chemically identical to regular diesel, and can be used on its own or blended with conventional diesel and produces less carbon dioxide and nitrogen oxide than conventional diesel. The Gulf Coast currently produces a significant portion of renewable diesel, and California is the largest customer. Marine transportation is the most cost effective solution to move finished product to the West Coast. The length of the trip to California creates a significant increase in ton mile demand and has created an important new market for Jones Act tankers that is expected to expand further in the years ahead. Of equal significance was the Biden administration’s approval last year of ConocoPhillips’ Willow Project in Alaska. This project, together with an earlier permitted project to develop the Pikka discovery operated by Santos, is expected to bring nearly 250,000 barrels per day of new crude oil production in Alaska by 2027. The promise of significant increased future production bodes well to the prospective demand for OSG’s Alaska Class tankers, which provide the most cost effective means for delivery of North Slope crude oil to refineries located in California and Washington State. Anticipating this increase in demand, OSG acquired in late 2023 the Alaskan Frontier, sister to our other three ATC-operated crude oil tankers, and contracted with engine manufacturer, MAN B&W, to perform lifecycle upgrades on each of the engines on all four ATC vessels. The lifecycle upgrades will improve performance and fuel efficiency and also prepare the engines for possible use of methanol fuel in the future. It is expected that the fuel efficiency gain will result in 15% to 20% fuel savings as compared to the original engine design, leading to meaningful reduction in carbon output. The significant capital investment in the four Alaskan class tankers should permit OSG to operate these vessels for a longer period of time and with lower maintenance costs for the remaining lives. Another development of significance during 2023 was the transaction transferring ownership of the seven veteran class tankers that OSG operates under bareboat charters from entities previously owned by AMSC ASA to new owners owned by a private fund managed by Maritime Partners, LLC. In conjunction with this transaction, OSG entered into new bareboat agreements and simplified the underlying arrangements that govern the relationship between OSG and now Maritime Partners, a Jones Act qualified company. The Maritime Partners transaction presented OSG with an opportunity to prepay all of its remaining deferred payment obligations on two of the seven bareboat chartered vessels at a 14% discount to the aggregate outstanding liability of $6.5 million. Other material commercial terms of the revised bareboat agreements remain unchanged from the original agreements. Looking ahead for the longer term, OSG is actively engaged in pursuing opportunities in the emerging market for transporting carbon dioxide that may be captured from industrial sites in the future. In December, OSG was awarded a $400,000 grant from the U.S. Department of Energy to study the development of its proposed Tampa Regional Intermodal Carbon Hub, or T-RICH. The study is an important step towards realizing the potential for participating in an emerging market to manage the transport and sequestration of captured CO2. The study will evaluate the commercial feasibility of developing intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across the state of Florida. As conceived, T-RICH would receive, store and process initially 2 million metric tons of CO2 per year, which will be transported by OSG vessels across the Gulf of Mexico for permanent underground storage. T-RICH will be the first of its kind in the nation and could be scaled in the future to meet expanded volumes of captured CO2. It bears repeating that given the restored health of our core businesses, decisions regarding allocation of capital remain the most important of those regularly considered by Board and management of OSG. When considering this question, the following topics feature prominently: First, we are interested in investing opportunistically in incremental U.S. Flag tanker and ATB assets, both Jones Act and internationally trading U.S. Flag tankers, where we expect long-term cash flow returns to provide value to our stakeholders. Second, the Board considers applying peak cycle cash flows to reduce the overall financial leverage in our business, while at the same time, it is considering ways to sustain access to liquidity, either through creating a pool of unencumbered assets against which future financing could be added if needed, or through establishing new financing facilities which would offer contingent liquidity at an acceptable cost. Third, the Board engages in discussions regarding continuing its ongoing efforts to return capital to our shareholders. And fourth, we seek opportunities to invest judiciously in gaining and sustaining a first mover advantage and participating in the emerging market for transporting liquid bulk commodities that are not currently in the mix of products being shipped on our vessels. In this category, we see the most interesting opportunities to be the transportation of liquid carbon dioxide generated in the value chain seeking to capture and sequester industrial emissions of carbon dioxide. I will now turn the call over to Dick to provide you with further details on our fourth quarter and full year results for 2023. Dick? Dick Trueblood: Thanks, Sam. Please turn to Slide 7. Vessel demand continues to be strong with no additions to supply. Customers continue to show interest in longer-term time charters and entering into new contracts and direct continuation of their existing contracts, often well in advance of the scheduled maturity. Rates reflect this demand strength with recent rates now exceeding $80,000 per day for Jones Act MR tankers. This resulted in a strong 2023 performance and significant visibility into 2024 and thereafter. We continued our share repurchase efforts with the Board authorizing $45 million for this purpose in 2023. During the year, we purchased 8.6 million shares, including 1.4 million shares in the fourth quarter, bringing the total purchases, which began in 2022 to 18.6 million shares with a cumulative expenditure of $64.8 million. The average share price paid for all of these shares was $3.46 per share. Earlier in 2023, we purchased 75% of our outstanding warrants for $11.4 million. This reduced the potential dilution by 2.6 million shares. The warrants were canceled after acquisition. The remaining outstanding warrants are convertible into 859,000 shares. At this time, we have remaining authority for further share repurchases of $25 million. Please turn to Slide 8. We have continued to extend the maturities of our book of business as our customers desire to lock in their transportation requirements. 2024 is essentially fully booked with some variability for our internationally trading vessels. Looking at the chart, in 2024, we have two vessels with charters ending before 12/31/24. One of these two vessels, the Mykonos, has a series of one-year options with the Military Sealift Command, which, if all exercised, will keep her chartered through August 2028. The two vessels becoming available at the end of 2024 participate in the Tanker Security Program, and by design, the majority of their voyages are in the spot market. The Alaskan Legend and Alaskan Navigator are subject to extension options that if exercised will continue their charter for years into the future. Looking at our contracted book of business on a revenue basis without considering any business currently under negotiation and not assuming the exercise of any contractual options, our future book of business at March 31, 2024 exceeds $860 million over the remaining lives of those contracts. In arriving at this estimate, we have factored out estimated off-hire days due to future required drydock periods. We completed the purchase of the Frontier in the fourth quarter as sister ship to our three Alaskan tankers. She’s been in cold layup since 2019 and we are now actively planning a lengthy shipyard period during which we will also perform engine lifecycle upgrades and installation of the ballast water treatment system. We expect her to commence commercial operations in the fourth quarter of 2024. Our total resource commitment, including the purchase price, is expected to approximate $50 million. Please turn to Slide 9. We had 7,391 available days in 2023, of which 96% were contracted. This represents a continuous improvement from the low of 2021 during the pandemic, as well as a high point for the last five years. Available and contracted days decreased with the return of three vessels to AMSC at the end of their bareboat charters in December 2023. Please turn to Slide 10. We’re very pleased with our fourth quarter and full year results. All elements of our fleet continue to perform well. We did have some fluctuations due to scheduled drydock days. Fourth quarter revenues increased modestly to $110.1 million from $108.6 million. An increase in off-hire days due to drydock schedules moderated the increase. Rates and utilization remained high. Revenue declines from the year-ago quarter result from the return of three vessels in December 2022 at the expiration of their bareboat charters. Increased rates and higher utilization from the remaining fleet offset much of this decrease. Full year time charter equivalent revenues were $423.5 million, essentially flat to 2022 time charter equivalent revenues of $426.3 million. Fourth quarter adjusted EBITDA was $47.3 million compared to the prior year’s quarter — to the prior quarter’s $48.1 million. Full year adjusted EBITDA was $175.7 million, a 23% increase from 2022. The reduction in operating expenses and charter hire associated with the return vessels offset the revenue decline from those vessels. Please turn to Slide 11. Jones Act Handysize tanker revenues increased $2.2 million from the prior quarter, while ATB revenues increased $900,000. Specialized business revenues decreased $1.6 million. Please turn to Slide 12. Lightering volumes increased slightly from the third quarter with a corresponding increase in revenues. Non-Jones Act tanker revenues decreased modestly from the third quarter resulting from lower quarterly utilization. Jones Act shuttle tanker revenues declined due to a scheduled drydock period. Alaskan tanker revenues were essentially flat compared to the third quarter as the Alaskan Legend underwent first scheduled drydock period. Each of the third and fourth quarters saw one vessel in drydock. Please turn to Slide 13. Fourth quarter vessel operating contribution declined $2.2 million due to the lower contribution from the specialized businesses resulting from their specialized — their scheduled drydock periods. Jones Act Handysize tankers contribution increased $1 million. Rate increases due to new contract provided the impetus for this increase. The contribution from our ATBs increased $1.2 million, and this increase was moderated slightly by the completion of the scheduled drydock. Please turn to Slide 14. Fourth quarter adjusted EBITDA was $47.3 million, and adjusted EBITDA for 2023 full year was $175.7 million, a $32.9 million increase from 2022. Please turn to Slide 15. 2023 net income was $62.5 million compared to 2022 when net income was $26.6 million. The continuing impact of higher rates, increased contract duration, and increased utilization contributed to these positive results. Please turn to Slide 16. I thought it might be instructive to quantify how adjusted EBITDA is used. The difference between adjusted EBITDA and this table approximate our free cash flow generation. During 2024, we expect to expend $28 million in interest expense and reduce our outstanding indebtedness by $43 million. This includes the repayment of the Sun Coast loan maturing in September with an outstanding balance of $18 million. Our CapEx for planned maintenance this year is $30 million. We will expend an additional $32 million to reactivate the Frontier, complete our lifecycle engine upgrades and make progress payments towards the lifecycle engine upgrades for our other three Alaskan vessels. Finally, in the first quarter, we paid in full the ATC $7 million deferred compensation obligation. One more 2024 note. We are currently projecting that we will not pay any profit share with respect to our seven bareboat chartered vessels from ASC. We anticipate considering vessel performance that in future years we will begin to pay profit sharing. Please turn to Slide 17. At September 30, 2023, we had total cash of $98 million. During the fourth quarter, we generated $47 million of adjusted EBITDA and working capital used $10 million. We invested $39 million in vessel drydock and other capital costs. As mentioned before, we repurchased 1.4 million shares for $7 million. Additionally, we paid $13 million in debt service. As a result, we ended the quarter with $76 million of cash plus $15 million of liquid investments, resulting in total liquidity of $91 million. Please turn to Slide 18. Continuing our discussion of cash and liquidity, as mentioned on the previous slide, we had $76 million of cash. Our total debt was $404 million, which represents a decrease of $6 million in outstanding indebtedness since September. With $354 million of equity, our net debt to equity ratio is 0.9 times. This concludes my comments on the financial statements. I’d like to turn the call back to Sam. Sam? Sam Norton: Thank you, Dick. Turning to our expectations for 2024. A high level of forward contract coverage has now become a feature of our business profile. The markets within which we operate have continued to firm, allowing us to succeed in concluding new or extended time charters, which taken together with our existing book of business provide us with time charter coverage for our Jones Act vessels for over 95% of available vessel trading days for all of 2024. Recent fixtures of conventional Jones Act tankers have been in the mid-$80,000 per day range for periods of three years. Fixtures for comparable periods for larger ATBs are now approaching $60,000 per day. We evaluate the market time charter equivalent for our ATC vessels at levels exceeding six figures on a daily basis. Since we now have clear visibility of both charter rates and fixed contract coverage for 2024, changes in our expectations for 2024 should occur solely as a result of changes in lightering volumes and in the rate conditions experienced in the international MR market in which currently only two of our Jones Act — our non-Jones Act vessels trade. Available trading days for the year remain only for the fourth quarter for both the Alaskan Explorer and the Alaskan Frontier. For both of those vessels, we are currently fielding inquiries for employment, and we are optimistic that we will fix these ships well in advance of their open availability dates. We anticipate continued strength in all important financial metrics and a sustained build in our available cash balances over the next several quarters as profitable time charters at high utilization rates are realized. Given all of this, we are in position today to provide guidance of our expectation of time charter equivalent earnings for the full year of approximately $450 million. Attaining this top-line result should generate a growth in adjusted EBITDA of between 10% and 15% as compared with full year results for 2023 announced earlier today. After accounting for cash used for debt service, planned maintenance CapEx, installment payments for engine upgrades from our ATC vessels and the retirement of the ATC deferred compensation plan, we expect to generate surplus cash of approximately $50 million over the course of 2024. To deliver these results, our mission is firmly focused on execution and operational excellence as well as the pursuit of growth opportunities described earlier. Jamie, we can now open up the call for questions. See also 30 US Cities with the Highest Fast-Food Consumption and 20 Most Popular Religions in the World. Q&A Session Follow Overseas Shipholding Group Inc (NYSE:OSG) Follow Overseas Shipholding Group Inc (NYSE:OSG) or Subscribe with Google We may use your email to send marketing emails about our services. Click here to read our privacy policy. Operator: Ladies and gentlemen, at this time, we’ll begin the question-and-answer session. [Operator Instructions] Our first question today comes from Ryan Vaughan from Needham. Please go ahead with your question. Ryan Vaughan: Great. Thank you. Hi, Sam and Dick, great job on the quarter. Great job on the year as well. A few questions for me. Maybe just the first one, Sam, I know it’s a little bit early, but you’re through quite a bit of the CapEx on the Frontier, you mentioned, in the fourth quarter. Just how you’re thinking about the use cases for the Frontier? Number two, just thinking, you guys have done an incredible job of de-levering the balance sheet. I’m just running some rough numbers. It looks like at the end of the year, it will be a little bit less than 1.5 turns. You did just give us some guidance, so it’s probably even a little bit better than that. Just how you’re thinking about that? You did mention some unencumbered vessels. How you’re thinking about appropriate leverage for the business? That’s number two. And then just the last one, if you don’t mind. Dick, you had mentioned you had $25 million left in the share buyback. Is that accessible currently or is that on hold given, Sam, your earlier remarks about the unsolicited proposal? Just any update on that? Thank you. Sam Norton: Okay. So, I’ll try and address the three questions as best I can. Frontier, we expect the Frontier to be available out of the geographic drydock is in Singapore. So, we expect the vessel to be out of the drydock by the end of September. Depending on where her employment options evolve, that would make her, in my opinion, sort of ready to load cargo, probably three to six weeks later than that, depending on where she goes. In my prepared remarks, I highlighted the fact that we think that medium term the production of Alaska crude oil is going to be a big driver of the use case for all of our ATC vessels. The interim period between the end of this year and the early part of 2027, that’s a period that we have to fill. We have some ideas about how we might do that both in the traditional Alaska trades as well as emerging interest that we see for transporting crude oil from the Gulf Coast to locations on the East Coast of the United States. I also pointed out that we saw a good example of that in the use case for the Alaskan Explorer. She is currently on a contract to transport kudos from PADD 3 to PADD 1 for one of our Delaware Bay refineries refinery customers. And there is interest from other parties to explore and utilize this size of crude oil tanker in the Gulf Coast and East Coast trade. So, we see either one of those options in the short run, either working the traditional Alaskan trades or working additional demand or so satisfying additional demand in the Gulf Coast trade as the likely short-term utilization of these vessels. Medium term, sort of beyond 2027, I think we feel that the home for all of these vessels will be in the Alaskan trade as that new production comes on stream. Level of debt, that’s a constant conversation for us. In our conversations, we consider that our business is cyclical and that market peaks or near market peaks, it’s a good idea to be reducing debt, and that has been an objective of ours over the last 18 months or so. And as Dick alluded to, we currently plan to allow maturing debt facilities to just be paid off with surplus cash that we have. I think that you noted 1.5 times, I think that that’s a good number. I think that we expect our net debt cash net of — excuse me, debt net of cash by the end of this year to be less than that probably. It’s less than $300 million of net debt, and we’ve guided to a 10% to 15% increase in adjusted EBITDA against the 2023 levels. So, that would put it at less than 1.5 times turn. Dick, do you want to answer the question on the $25 million? Dick Trueblood: Sure. I think it is available currently. We would probably be somewhat cautious about using it right now. But we still see this as an attractive use of cash to reduce the outstanding shares and to return money to shareholders who have an interest in selling their shares. So, I’m… Sam Norton: Yeah. And it’s US$25 million of unutilized [indiscernible] and so, it is fully available to us should we choose to use it. Ryan Vaughan: Okay. Great. All right. Well, thanks for that, and great job. Appreciate it. Dick Trueblood: Thanks, Ryan. Operator: [Operator Instructions] Our next question comes from [indiscernible] from Value Investors. Please go ahead with your question. Unidentified Analyst: Good morning. Thank you for taking my questions. I wanted to start by asking our potential opportunities in the CO2 space. You received a grant from the Department of Energy to study feasibility of developing a storage and transport hub. How should we think about potential timings? And secondly, should the project be commercially feasible, would OSG focus on transportation or also on the ownership and operation of the storage and terminal facilities? Sam Norton: So, as to timing, a lot depends on a lot of things, but we are pursuing this opportunity with the belief that current support for climate change initiatives will continue, including a significant amount of funding that’s being made available by the current administration to be able to promote those solutions. The grant is part of that program, and we believe that within the next 12 to 18 months, we should complete the study that’s being funded by that grant. It would be a success, in my opinion, if, by the end of 2025, we had a clear understanding of the scope, a full front-end engineering and design and a full development of the scope for going out for construction bids to be able to assemble the various component parts of this value chain that we’re interested investing in. Given the requirement that the vessels would need to be built in the United States and given the current — our current understanding of the lead time for vessel deliveries following a contract award, I think a three-year forward delivery position is a good number to be working on. I think that probably — the other elements of the project could probably be completed within that three-year period. So, I think there is cause to believe that sometime during 2029, probably the latter part of 2029, there might be revenue generating that would start from this project. So, we’re looking at a five year — effectively at a five-year forward revenue generating opportunity, which I understand in most people’s sort of economic models that’s far out in the future. Nonetheless, I would emphasize that should this project prove feasible, the opportunities for managing the capture of carbon at industrial facilities in Florida, we think is extraordinary. Within 40-mile radius of Tampa itself, there’s existing industrial emitters that emit 25 million tons a year of carbon dioxide. As indicated in my comments, our additional project is scaled to 2 million ton per annum scale, but there are opportunities we think to scale up from that if the concept proves feasible. And for the scope of the work, clearly, we’re interested in the maritime component of this. However, our current focus is also to participate in the shore-based storage and — well, liquefaction and storage facilities that would be shore based, and to participate as well potentially in the downstream storage and regasification of these facilities. So, that’s all open to study and further consideration. But at this juncture, we’re imagining a project boundary that would extend from the outlet flange of a delivery pipe probably from an emitter to the outlet flange of the delivery receiving facilities for delivery into probably pipelines for further delivery to sequestration sites in PADD 3. Unidentified Analyst: That’s very helpful. Thank you. I also wanted to ask about recent contract renewals. You mentioned new three-year contracts for Jones Act vessels are assessed in the mid-$80,000. But could you provide some additional commentary on the delta between the new contracts for the Tampa, the Endurance, the Nikiski and the Alaskan Explorer relative to their previous employment? Sam Norton: So, yes, the OSG — we fixed one ATB during the first quarter of this year. Per increase from the previous rates is order of magnitude of $20,000 per day. And for the Overseas Nikiski and for the Overseas Tampa, the increase for the Nikiski is order of magnitude of $20,000 per day and for the Tampa, $10,000 per day roughly. Unidentified Analyst: That’s really helpful. Thank you. That’s all from me. Thank you for taking my questions, and congratulations for the quarter. Sam Norton: Appreciate it. Operator: [Operator Instructions] Our next question comes from [Josh Kehoe] (ph). Please go ahead with your question. Unidentified Analyst: Hi, Sam and Dick. Great quarter, great year, just to echo what Ryan said earlier. I just have two questions. The first one, just a quick one. Previously Sam had mentioned potential interest in a new build ATB from one of your customers. I’m just wondering if there’s any update on that. Sam Norton: Nothing firm at the moment, although I think it would be accurate to characterize the current Gulf Coast or cross-Gulf availability of capacity is being quite tight. And I think that, one of the — Josh, you know this, one of the things that people are watching is whether the new CARB regulations in California result in some of the equipment that has traditionally been moving on the West Coast coming back to the Gulf Coast. I saw today actually that the U.S. Coast Guard is choosing to not enforce some of those and there’s still an open question as to whether or not those CARB rules will be enforced. So, I think people are watching that. On the assumption that nothing much changes on the West Coast, in other words, that the existing equipment that’s operating in the West Coast will be allowed to continue to operate there, I think that might be the catalyst one or more of the principal transporters of refined petroleum product in the Gulf Coast trades to come with an RFQ for new ATB sometime during the first half of this year. Unidentified Analyst: Okay. Yeah, great color on the CARB regulations. I’m following those closely too. So thank you on that. My second question is, I noticed it looked like for Q4, the international, the non-Jones Act MR tankers, the TSP tankers, it was a little bit soft on the numbers compared to previous. So, I believe one of the tankers may have been ballasting back from East Asia may have been part of that. But I was just curious if you’ve seen any or heard any interest in increasing number of preference cargoes out of MARAD, whatnot to support the TSP fleet. That’s the end of my questions. And once again, great quarter. You hit your guidance spot on and I love seeing what’s been going on. So, thank you. Sam Norton: Yeah, I think the TSP preference cargo issue is an ongoing conversation. There is — the programs that are sponsored by the transportation department are built around commercial trades, plus the stipend, plus access to preference cargoes. I think there’s a general view that the dry cargo operators in the Maritime Security Program are afforded a larger value to the preference cargoes that is the case currently with the tanker trades. And clearly, the introduction of new U.S. Flag tankers into what was already relatively [indiscernible] preference cargo availability has raised some questions amongst the operators as to how and — if, and if so, how to increase the preference cargo availability. I think there is relative recognition of the need to be able address this issue at TRANSCOM and at MARAD. And I think that, that conversation over time should result in some positive direction from the owners’ point of view. I think it’s really too early to comment what the level — with the current level of preference cargo is going to be. Last year, because of the Military Sealift Command’s chartering of six vessels to assist them with repositioning cargo out of the Red Hill storage facilities in Hawaii, that created, in the second half of the year, a significant increase in what’s — I consider that a preference cargo or increase in U.S. Flag utilization internationally. Most of those vessels, if not all of them have now been redelivered. So, there is a question as to what’s this year going to look like. I mentioned that the Red Sea is clearly an area of operation not favored by many operators. And so, we’ve seen at least one cargo, which would normally have transited the Red Sea, move from the Mediterranean, not on our ship, but on one of the other U.S. flagships, move from a Mediterranean load port to Middle Eastern discharge port, not transiting the Suez Canal, but going around the Cape of Good Hope, that obviously adds ton mile demand and days on their preference cargo. So that’s a positive — from the owners’ perspective, that’s a positive development. I think it’s yet to be seen how things play out this year, but we — in I think 2022 and 2023, we certainly saw a greater number of days under preference cargo during those years than we had in prior years. It’s a question to me right now whether we revert back to the sort of level of MSC cargoes that we did in 2020 and ’21 or whether we see a sustained level of increased preference cargoes resulting from the various geopolitical events around the world and a step up of commitment to moving cargo on U.S. Flag vessels from TRANSCOM. So, yet to be seen. Operator: And ladies and gentlemen, with that, we’ll be concluding today’s question-and-answer session. I’d like to turn the floor back over to Sam Norton for any closing remarks. Sam Norton: Thank you, Jamie, and thank you again all for listening in. We look forward to continuing to provide you with more information as and when we can, and to what we consider will be good quarters in the months ahead. Thanks again for listening. Have a good day. Operator: Ladies and gentlemen, with that, we’ll conclude today’s conference call. We thank you for joining. You may now disconnect your lines. 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The 5 best hummingbird feeders of 2024
We chose the best hummingbird feeders with advice from expert birders. Our top picks include saucer, tube, and glass nectar feeders. When you buy through our links, Business Insider may earn an affiliate commission. Learn moreHummingbirds are attracted to sweet nectar rather than bird seed.AspectsWith their tiny jewel-toned bodies and super-fast wings, hummingbirds are one of the most charming avian species to attract to your yard. But unlike most backyard-friendly birds, hummingbirds aren't interested in seeds and can't use a standard bird feeder. Instead, the best hummingbird feeders are designed for the birds' slender bills and long tongues and can easily be filled with the sweet nectar they crave.We spoke to experts from Audubon, Cornell University Lab of Ornithology, and the Odum School of Ecology to learn more about hummingbirds and what characteristics make a good feeder. We then researched dozens of options before making our recommendations. Our top pick is the Aspects Hummzinger High View Hummingbird Feeder. It is a simple yet attractive plastic feeder that will draw the beloved birds to your yard to feed from four different ports.Learn more about how Business Insider Reviews tests and researches home products.Our top picks for the best hummingbird feedersBest hummingbird feeder overall: Aspects Hummzinger High View Hummingbird Feeder - See at The Audubon ShopBest budget hummingbird feeder: More Birds Bird Health Ruby Glass Hummingbird Feeder - See at AmazonBest glass hummingbird feeder: More Birds Bird Health Diamond Glass Hummingbird Feeder- See at AmazonBest window-mounted hummingbird feeder: Aspects Jewel Box Window Hummingbird Feeder - See at The Audubon ShopBest decorative hummingbird feeder: Perky-Pet Red Square Antique Glass Bottle Hummingbird Feeder - See at ChewyBest overallThere are a wide variety of hummingbird feeder designs, including bottle and dish-like saucer feeders. "Dish feeders are good for a 360-degree view of feeding, since sometimes it's hard to see a bird that's behind a bottle," says Stephanie Green, an ecologist at the Strawberry Plains Audubon Center. However, the birds don't have a preference when it comes to a feeder's material or shape. What matters most is the feeder's color. "Hummingbirds are attracted to red because flowers pollinated by hummingbirds are often red," says Holly Grant, NestWatch project assistant at the Cornell Lab of Ornithology. Wasps and bees are attracted to the color yellow, so you'll want to avoid feeders with yellow ports, guards, or flower-shaped attachments, she says. Aside from that, our experts say choosing a feeder that is easy to take apart and thoroughly clean is most important.The Aspects Hummzinger High View Hummingbird Feeder meets all of our criteria for the best hummingbird feeders. The saucer feeder is a cinch to fill and clean with a clear dish that detaches from the bright red cover. Neither piece has nooks and crannies that are challenging to clean. There's a perch that wraps around the edge of the feeder, and the cover has four raised, red flower-shaped feeding ports. You can fill the ant moat built into the base with water to keep crawling insects out of the nectar. The feeder has a brass hook for hanging, but you can also mount it to a post.Best budget"If you want to attract hummingbirds, keep it simple," Green says. "You can have all the fun in the world using an inexpensive feeder, as long as you clean it and fill it." Keep things even more cost-effective by making nectar at home using sugar and water rather than purchasing a commercial version. And skip adding red dye to the mixture. Green says it can be harmful to birds. Most hummingbird feeders come with ant moats, which are water basins that discourage crawling insects from getting into the sweet, sticky nectar. If you need more protection against bugs, Grant recommends putting a dab of petroleum jelly on the hanging wire. Just make sure that it is far enough from the feeding birds that it won't accidentally get on their feathers.The affordable More Birds Bird Health Ruby Glass Hummingbird Feeder is a basic glass tube feeder with a body and mouth wide enough to accommodate a bottle brush easily. The feeder has a BPA-free plastic red top and base, so you can attract hummingbirds without dying your nectar. Birds can comfortably perch on the outer ring. The feeder also has four bee-guard feeding ports with white flowers and a built-in ant moat for discouraging insects. It's easy to fill and clean the tube — just unscrew it from the base.Best glass"It's best to have a feeder that has enough nectar to support the 'demand' in your neighborhood," says Charles van Rees, a conservation scientist, naturalist, and founder of Gulo in Nature. So, if you have so many hummers buzzing around your yard that you have to refill your feeder's nectar daily, a large-capacity bottle can help minimize your work. Just be aware that hummingbirds are very territorial and may squabble over who has access to the feeding ports on a single bottle. "You will attract more hummingbirds that can feed with fewer disruptions if you place several small feeders around your yard rather than just one large feeder," says Grant.The More Birds Bird Health Diamond Glass Hummingbird Feeder is similar to the budget Ruby Glass Feeder. Like that design, the Diamond has an easy-to-clean glass bottle, a BPA-free plastic red top and base, and a built-in ant moat and perch. But the Diamond is significantly larger, with a spiral tube that holds 30 ounces of nectar to feed a lot of hummingbirds at five white-flowered bee-guard feeding ports.Best window-mountedA window feeder gives bird watchers a close-up view of their feathered friends without disturbing their meal. "Hummingbirds are unusually fearless and come readily to window feeders," says Grant. She recommends placing feeders in the coolest areas where there is some wind protection. Green says that, although in her experience, hummingbirds are a little less attracted to feeders hung in the shade, keeping your feeder out of the sun will prevent its nectar from quickly spoiling.The half-moon-shaped Apsects Jewel Box Window Hummingbird Feeder is a drip-and-leak-proof saucer that you can attach to a window with two plastic suction cups. The hinged red lid opens wide for easy filling and cleaning. Hummers can perch along the edge and drink from one of the three available feeding ports. An optional ant moat is included. The Jewel Box holds up to 8 ounces of nectar, making it ideal for smaller groups of hummingbirds. It also comes with a lifetime guarantee.Best decorativeWhile hummingbirds love the color red, you should enjoy how your feeder looks, too. Just pay close attention to shape when shopping for a decorative feeder. While elaborate designs and unique shapes can look gorgeous in your garden, they might also be more difficult to take apart and clean.With its bottle shape, this decorative glass feeder by Perky Pet meets our criteria for easy cleaning. The embossed designs on the outside provide an antique aesthetic, and hummingbirds should be drawn to its vibrant red color. The brushed copper base with four flower ports adds to the vintage look. You can also detach the copper portion of the base from the plastic bottom to clean the inside. This feeder can hold up to 24 ounces of nectar and is suitable for larger hummingbird populations. While it doesn't have built-in perches, hummers can sit on the base to drink from the decorative flower ports.What to look for in a hummingbird feederBefore you begin shopping for a feeder, you'll want to familiarize yourself with the various styles. There are three primary types of hummingbird feeders: saucer or dish-style feeders, bottle or tube-style feeders, and decorative feeders.Saucer feeders: As the name suggests, saucer (dish) feeders have a bowl shape that hummingbirds probe down into from a feeding port above. Saucer feeders are less messy, less likely to leak, and sometimes easier to clean than bottle feeders. They also typically hold less nectar.Bottle feeders: Bottle feeders, also called tube or vacuum feeders, are inverted glass or plastic bottles that typically screw into a base to create a tight seal. When hung, the bottle releases nectar into the feeding ports at the bottom as a bird feeds. These feeders are more prone to leakage than saucer feeders, making them more attractive to crawling insects, bees, and wasps. The latter are especially attracted to yellow bee guards.Decorative feeders: While some decorative feeders are shaped like typical saucer or bottle feeders, others have unusual shapes. Because hummingbirds don't seem to pay much attention to the shape of a feeder, any decorative feeder with some red on it should attract them. They can, however, be difficult to clean.Once you've determined the type of feeder that's best for you, we recommend considering the following qualities.Ease of disassembly and cleaning: Our experts say the best hummingbird feeders are easy to disassemble and thoroughly clean, which is essential to do every few days. Look for feeders with lids and bases that are easy to separate and have openings large enough to accommodate a bottle brush easily.Color: Hummingbirds are attracted to the bright colors of their favorite flowers, especially red and pink. According to Green, although hummingbirds are not attracted to the color yellow, bees and wasps are. We recommend choosing a feeder that is brightly colored with red and pink and avoiding feeders with yellow feeding ports, bee guards, or other details.Ant moats: Ant moats are basins that hold water to prevent ants from crawling into the nectar. They are found in many, but not all, hummingbird feeders. Feeders with built-in or detachable ant moats can help keep its nectar as fresh as possible.Material: We selected feeders built with bird-safe materials such as BPA-free plastic, metal, and glass. According to Grant, the most important factor is the ease of cleaning rather than any harmful substances in the materials themselves. "Porous materials have a greater propensity to allow mold and bacterial growth," Grant says. Size: We selected feeders with a variety of different nectar capacities to feed either large or small hummingbird populations.Attachment: "Consider what sort of mount you'll be able to use with different hummingbird feeders," says van Rees. You may need a hook for heavier feeders, while more lightweight options can attach to your windows with suction cups.How we selected the best hummingbird feedersTo select the best hummingbird feeders, we interviewed experts from Audubon, Cornell University Lab of Ornithology, and the Odum School of Ecology to develop the list of criteria outlined in the "what to look for" section above. We then evaluated hummingbird feeders available at major retailers to find those that best met our standards. The brands and feeders we selected have consistently positive reviews and are known for their quality and product guarantees.Hummingbird feeder FAQsWhat type of feeders do hummingbirds like best?Hummingbirds love the color red, so they'll naturally want to check out any feeders that feature the color. "Buy a feeder with red parts, or tie a red ribbon around the feeder to help attract hummingbirds," says Grant. The shape of the feeder isn't as important, according to Green. "If you think about it, the plants that they're feeding from are a wide array of shapes, so there's no one-size-fits-all," she says. Just make sure that the feeder is easy to take apart and clean.Is a glass or plastic hummingbird feeder better?Glass and plastic are equally good options for a hummingbird feeder, according to our experts. "Whatever kind you buy, just keep an eye on it to make sure it's in good condition and there aren't any hidden areas like deep scratches in plastic that can harbor harmful microbes," says Grant. She also recommends keeping a bottle brush or an old toothbrush on hand for easy cleaning.Should hummingbird feeders be in the sun or shade?"Hummingbirds prefer feeders near trees and shrubs where they can perch to rest and observe their surroundings, and feed on nearby natural food between visits," says Grant. She recommends placing feeders in the coolest areas of your yard and places with some protection from wind. Keeping your feeder out of the sun will also help the nectar last longer without spoiling. Just be careful to place your feeder in an area where predators like cats cannot easily reach feeding birds. Cornell University Project FeederWatch says to install feeders approximately 10 feet away from strong branches that may support a cat's weight. Similarly, you'll want to ensure your feeder is mounted high enough from the ground so predators cannot reach them.What is the correct ratio of sugar to water for hummingbirds?Grant recommends using a ratio of one part sugar to four parts hot or boiling water. In colder, wet weather, the ratio can be increased to one part sugar to three parts water. Avoid using special sugars in your nectar. "Some raw sugars or organic kinds have additives which may be harmful to hummingbirds, and honey tends to cause mold growth," she says. "Regular white sugar is just fine."How often should you clean a hummingbird feeder?"Generally speaking, you should clean the feeder and replace the nectar every 3 to 4 days to a week," says van Rees. However, you may need to clean the feeder more often when it's especially hot or humid. "When it's over 90 degrees, sugar water may spoil in two days or less," says Grant.Cornell Lab of Ornithology advises against using soap or detergents to clean the feeder. Most hummingbird feeders can be cleaned with hot water and a bottle brush or diluted bleach (1 part bleach to 9 parts water). Make sure to rinse the feeder thoroughly and allow it to air dry before refilling.Best hummingbird feeder overall: Aspects Hummzinger High View Hummingbird FeederAmazonThere are a wide variety of hummingbird feeder designs, and according to our experts, the birds don't have a preference when it comes to a feeder's material or shape. What matters most is the color of the feeder. "Hummingbirds are attracted to red because flowers pollinated by hummingbirds are often red," said Holly Grant, NestWatch project assistant at the Cornell Lab of Ornithology in Ithaca, New York. Because wasps and bees are attracted to the color yellow, avoid feeders that have yellow ports, guards, or "flowers," she said. Aside from that, our experts say that choosing a feeder that is easy to take apart and thoroughly clean is more important than its aesthetics.The plastic Aspects Hummzinger High View Hummingbird Feeder meets our criteria for a great feeder. It is a cinch to fill and clean. The 7.75-inch-diameter saucer feeder has a clear dish that detaches from the bright red cover, and neither piece has nooks and crannies that are challenging to clean. A perch wraps around the circumference of the 12-ounce feeder, and the cover has four raised, red flower-shaped feeding ports. An ant moat built into the base can be filled with water to keep crawling insects out of the nectar. This feeder can be hung from its brass hook or mounted to a post.Best budget hummingbird feeder: More Birds Bird Health + Ruby FeederMore Birds"If you want to attract hummingbirds, keep it simple," said Stephanie Green, an ecologist at the Strawberry Plains Audubon Center in Holly Springs, Mississippi. "You can have all the fun in the world using an inexpensive feeder, as long as you clean it and fill it." Keep things even more cost-effective by making your own nectar at home using sugar and water rather than purchasing a commercial version. And skip adding red dye to the mixture. According to Green, it can be harmful to birds.The affordable More Birds Bird Health + Ruby Feeder is a basic 8.75-inch-long glass tube feeder with a body and mouth that are wide enough to accommodate a bottle brush easily. The 10-ounce feeder has a BPA-free plastic red top and base, and the latter has an outer ring for comfortable perching. It also has four bee-guard feeding ports with white flowers and a built-in ant moat for discouraging insects. It's easy to fill and clean the tube — just unscrew it from the base.Best glass hummingbird feeder: More Birds Bird Health Diamond Hummingbird FeederMore BirdsIf you have so many hummers buzzing around your yard that you have to refill your feeder's nectar daily, a large-capacity bottle can help minimize your work. Just be aware that hummingbirds are very territorial and may squabble over who has access to the feeding ports on a single bottle. "You will attract more hummingbirds that can feed with fewer disruptions if you place several small feeders around your yard rather than just one large feeder," said Grant.The More Birds Bird Health Diamond Hummingbird Feeder is similar to the budget Ruby Feeder. Like that design, the Diamond has an easy-to-clean glass bottle, a BPA-free plastic red top and base, and a built-in ant moat and perch. But the Diamond is significantly larger, with a 10.75-by-8-inch spiral tube that holds 30 ounces of nectar to feed a lot of hummingbirds at five white-flowered bee-guard feeding ports.Best window-mounted hummingbird feeder: Aspects Jewel Box Window Hummingbird FeederAspectsA window feeder gives bird watchers a close-up view of their feathered friends without A window feeder gives bird watchers a close-up view of their feathered friends without disturbing their meal. "Hummingbirds are unusually fearless and come readily to window feeders," said Grant. She recommends placing feeders in the coolest areas where there is some wind protection. Green said that, although in her experience hummingbirds are a little less attracted to feeders hung in the shade, keeping your feeder out of the sun will prevent its nectar from quickly spoiling.The half-moon-shaped Apsects Jewel Box Window Hummingbird Feeder is a drip-and-leak-proof saucer that attaches to a window with two plastic suction cups. The hinged red lid with three feeding ports and a perch along the edge opens wide for easy filling and cleaning. An optional ant moat is included. The 6-by-8.5-by-2.2-inch Jewel Box holds up to 8 ounces of nectar and comes with a lifetime guarantee.Best saucer hummingbird feeder: Sherwood Base Cuboid Hummingbird FeederAmazon"Dish feeders [or saucer feeders] are good for a 360 degree view of feeding, since sometimes it's hard to see a bird that's behind a bottle," said Green. Most hummingbird feeders of both the saucer and tube varieties come with ant moats, which are water basins that discourage crawling insects from getting into the sweet, sticky nectar. If you need more protection against bugs, Grant recommends putting a dab of petroleum jelly on the hanging wire. Just make sure that it is far enough from the feeding birds that it won't accidentally get on their feathers.The Sherwoodbase Cuboid Hummingbird Feeder is a versatile saucer feeder that can be hung from chains linked to its four corners or attached to a window using suction cups. Its red lid has five bee-guard feeding ports and detaches entirely from the base for cleaning. The 7.7-by-6.1-by-1.77-inch saucer holds up to 8 ounces of nectar and is bordered by a built-in ant moat. The 2-in-1 also comes with a tiny feeder hole brush, a lifetime warranty, and a 30-day money-back guarantee with no questions asked.Best decorative hummingbird feeder: Hand-Painted Double Hummingbird FeederUncommon GoodsWhen nectar is left out too long in warm weather, it can grow harmful mold and bacteria. To prevent visiting hummers from getting sick, Grant recommends cleaning them frequently. "Scrub your feeders with a clean bottle brush and very hot water and refill them every three days," she explained. "When it's over 90 degrees, sugar water may spoil in two days or less."Be especially careful with decorative hummingbird feeders. Despite being beautiful to look at, these feeders are often more challenging to get completely clean than less complex tube and saucer feeders. The pretty little Hand Painted Double Hummingbird Feeder designed by artist Alfredo Garcia-Luco and fabricated by artisans in San Miguel Allende, Mexico, is made from recycled glass to resemble a simple lidded pot de crème. It comes in blue or clear glass and is decorated with delicate pink flowers. Two molded red glass flower feeding ports are narrow enough to keep bees from getting into the nectar inside, and there is a removable bottle stopper on the top of the feeder for cleaning and filling. The 6-inch diameter, 7-inch-tall feeder dangles from a metal hanger secured around the belly of the glass dish.How we selected hummingbird feedersTo select the products recommended for feeding hummingbirds, we came up with a set of criteria based on the advice of Grant, Green, and a variety of online sources. We then searched through the hummingbird feeders available at major retailers to find those that best met our standards. Our selection criteria included:Ease of disassembly and cleaning: Our experts said an excellent hummingbird feeder is, above all, easy to disassemble and thoroughly clean. We looked for feeders with lids and bases that are easy to separate and have openings large enough to easily accommodate a bottle brush.Color: Hummingbirds are attracted to the bright colors of their favorite flowers, especially red and pink. According to Green, although hummingbirds are not attracted to the color yellow, bees and wasps are. We chose feeders that were brightly colored with red and pink and rejected any feeder with yellow feeding ports, bee guards, or other details.Ant moats: Ant moats are basins that hold water to prevent ants from crawling into the nectar. They are found in many, but not all, hummingbird feeders. Except for our decorative pick, we looked for feeders with built-in or detachable ant moats to help keep its nectar as fresh as possible.Material: We selected feeders built with bird-safe materials such as BPA-free plastic and glass.Types of hummingbird feedersAmazon/Uncommon GoodsThere are three primary types of hummingbird feeders: saucer or dish-style feeders, bottle or tube-style feeders, and decorative feeders.Saucer feeders: As the name suggests, saucer (dish) feeders have a bowl shape that hummingbirds probe down into from a feeding port above. Saucer feeders are less messy, less likely to leak, and sometimes easier to clean than bottle feeders. They also typically hold less nectar.Bottle feeders: Bottle feeders, also called tube or vacuum feeders, are inverted glass or plastic bottles that typically screw into a base to create a tight seal. When hung, the bottle releases nectar into the feeding ports at the bottom as a bird feeds. These feeders are more prone to leakage than saucer feeders, making them more attractive to crawling insects, bees, and wasps. The latter are especially attracted to yellow bee guards.Decorative feeders: While some decorative feeders are shaped like typical saucer or bottle feeders, others have unusual shapes. Because hummingbirds don't seem to pay much attention to the shape of a feeder, any decorative feeder with some red on it should attract them. They can, however, be difficult to clean, something both our experts agreed was essential to do every few days.Hummingbird feeder FAQsLiliboas/Getty ImagesDo hummingbirds prefer glass or plastic feeders?Glass and plastic are equally good options for a hummingbird feeder, according to both of our experts. "Whatever kind you buy, just keep an eye on it to make sure it's in good condition and there aren't any hidden areas like deep scratches in plastic that can harbor harmful microbes," said Grant.Should hummingbird feeders be in sun or shade?"Hummingbirds prefer feeders near trees and shrubs where they can perch to rest and observe their surroundings, and feed on nearby natural food between visits," said Grant. She recommends placing feeders in the coolest areas of your yard and places with some protection from wind. Keeping your feeder out of the sun will also help the nectar last longer without spoiling.What kind of feeders do hummingbirds like best?"There's no one feeder shape that's better than others," said Green. "If you think about it, the plants that they're feeding from are a wide array of shapes, so there's no one-size-fits-all."What is the correct ratio of sugar to water for hummingbirds?Grant recommends using a ratio of one part sugar to four parts hot or boiling water. In colder, wet weather, the ratio can be increased to one part sugar to three parts water. Avoid using special sugars in your nectar. "Some raw sugars or organic kinds have additives which may be harmful to hummingbirds, and honey tends to cause mold growth. Regular white sugar is just fine," she said.Should people in areas where bird flu has been detected take their feeders down this year to help prevent the spread among birds?Highly Pathogenic Avian Influenza (HPAI) mainly impacts geese, ducks, domestic poultry, and raptors, said Grant. "Songbirds are much less likely than waterfowl to contract avian influenza and are less likely to shed large amounts of the virus, meaning they do not transmit the disease easily." As of June 2022, Cornell Lab of Ornithology is not recommending that people take their feeders down unless they also keep domestic poultry. For more information, visit their All About Birds page on Avian Influenza.Our sourcesHolly Grant, NestWatch Project Assistant, Cornell Lab of Ornithology, Ithaca, New YorkHolly Grant is a NestWatch project assistant at the Cornell Lab of Ornithology. She also previously served as a project assistant for the lab's Project FeederWatch. Grant holds a degree in conservation biology from SUNY College of Environmental Science and Forestry. We interviewed Grant via email on May 6, 2022.Stephanie Green, ecologist, Strawberry Plains Audubon Center, Holly Springs, Mississippi Stephanie Green has been an ecologist at the Strawberry Plains Audubon Center since 2017. She has a bachelor's degree in biology from Berea College and a master's degree in forest ecology and habitat systems from the University of Kentucky. We consulted Green over email on May 9, 2022.All About Birds, The Cornell Lab of Ornithology. Avian Influenza Outbreak: Should You Take Down Your Bird Feeders? Accessed May 26, 2022.Audubon Society. How to Make Hummingbird Nectar. Accessed May 11, 2022Audubon Society. Hummingbird Feeding FAQs. Accessed May 11, 2022Bird Watching HQ. How to Clean Your Hummingbird Feeder. Accessed May 11, 2022Project Feederwatch. Attracting Hummingbirds. Accessed May 11, 2022Thompson, Bill, III. Prepare for Peak Hummingbird Season. Here's How!, Bird Watcher's Digest. Accessed May 11, 2022 Thompson, Bill, III. Tips on Choosing Hummingbird Feeders, Bird Watcher's Digest. Accessed May 26, 2022Read the original article on Business Insider.....»»
Top 25 Most Spoken Languages In The World 2024
In this article, we will look at the top 25 most-spoken languages in the world in 2024. If you want to skip our detailed analysis, you can go directly to the Top 5 Most Spoken Languages in the World in 2024. English, Mandarin Chinese, and Hindi stand out as the world’s most spoken languages, with […] In this article, we will look at the top 25 most-spoken languages in the world in 2024. If you want to skip our detailed analysis, you can go directly to the Top 5 Most Spoken Languages in the World in 2024. English, Mandarin Chinese, and Hindi stand out as the world’s most spoken languages, with approximately 1.5 billion, 1.1 billion, and 610 million speakers worldwide. These languages are not only widely spoken but are also experiencing rapid growth. As reported by Tomedes, English witnessed a surge of 23.27% in speakers between 2011 and 2021. Similarly, Hindi grew by 11%, outperforming Chinese speakers, which saw a comparatively modest increase of 7% over the same decade. To learn more about languages, you can look at 15 Most Valuable Languages to Learn for International Business and 18 of the Easiest Languages for English Speakers to Learn. Economic Outlook of India Hindi ranks as the third most spoken language in the world. It is predominantly spoken in India, where approximately 43.6% speak Hindi as a native language. India is an emerging economy categorized as one of the fastest-growing countries in the South Asian region. The Global Economic Prospects – January 2024 report by the World Bank anticipates the Indian economy to grow fastest among the world’s largest economies. Despite the slow post-pandemic recovery, the economy is expected to grow at 6.3% in 2024 and gradually recover to reach a growth rate of 6.5% by 2026. Robust international investment, backed by increased public investment and improved corporate balance by the financial institutes and the banking sectors, are factors contributing to the economic growth of the country. You can also look at the 25 Most Profitable Businesses With Least Investment in India and the Top 20 Most Valuable Indian Companies. Moreover, according to a report by Reuters on March 4, Moody’s Investor Services raised its gross domestic product (GDP) forecasts for India from 6.1% to 6.8% for 2024. The rating agency expects the economy to maintain a strong momentum of growth witnessed in recent quarters. In addition, the International Monetary Fund (IMF) has also raised its economic forecasts for the country. On January 30, Reuters reported that the IMF revised its projections for India’s GDP growth from 6.3% to 6.7% for the current fiscal year. The IMF expects the Indian economy to grow at an annual rate of 6.5%, starting in April 2024. Key Players Driving the Indian Economy Key players leading the Indian Economy include Reliance Industries Limited (NSE:RELIANCE), Tata Group, and HDFC Bank Ltd (NSE:HDFCBANK). Reliance Industries Limited (NSE:RELIANCE) is a Fortune 500 company and one of India’s largest private sector companies. The company operates in various market segments, including the exploration and production of various hydrocarbons, petroleum refining and marketing of oil and gas products, retail services, digital services, and financial services. Reliance Industries Limited (NSE:RELIANCE) also engages in media, telecommunication, Small Economic Zone development, and textile business. On February 28, Reliance Industries Limited (NSE:RELIANCE) announced a partnership between Reliance Consumer Products Limited, a wholly-owned subsidiary of Reliance Industries Limited (NSE:RELIANCE), and Elephant House, a leading Sri Lankan Beverage brand. Elephant House is owned by Ceylon Cold Stores PLC, which is a subsidiary of John Keells Holdings PLC (JKH:CSE). The partnership will enhance Reliance Consumer Products Limited’s beverage portfolio, offering value propositions and great products for Indian consumers. Tata Group is one of the key players in the Indian economy. It is one of the largest international conglomerates, which owns over 100 independent companies and operates across 6 continents. Tata Group is involved in various market segments, including agricultural services, automotive services, consumer products, financial services, hospitality, technology, infrastructural development, and more. Tata Group companies include but are not limited to Tata Steel Limited (NSE:TATASTEEL), Tata Consulting Services Limited (NSE:TCS), and Tata Power Company Limited (NSE:TATAPOWER). Tata Consulting Services Limited (NSE:TCS) is a leading multinational IT services and business solutions company that offers IT consultation services, IT-enabled technologies, business intelligence, and business process services. On February 21, Tata Consulting Services Limited (NSE:TCS) announced its partnership with the Co-operative Group Limited to offer a Cloud-First strategy to support its business growth and strategy. The Co-operative Group Limited is one of the leading retail business companies operating in grocery, funeral, legal, and insurance services and has been a strategic partner with Tata Consulting Services Limited (NSE:TCS) for over 14 years. HDFC Bank Ltd (NSE:HDFCBANK) is an Indian Bank and financial services company. The bank offers personal and corporate banking, investment banking, and other financial services to medium and small enterprises, governments, and individuals. The range of financial services provided by HDFC Bank Ltd (NSE:HDFCBANK) includes deposit services, card products, commercial and individual loans, insurance services, and investment solutions. The bank mainly operates in India but has an international presence, with branches in Hong Kong, Bahrain, United Arab Emirates, and Kenya. On January 17, the HDFC Bank Ltd (NSE:HDFCBANK) reported earnings for the fiscal third quarter of 2023. The bank reported earnings per share of $0.78 and outperformed expectations by $0.28. The bank’s revenue for the quarter amounted to $4.77 billion, up by 22.99% and ahead of revenue expectations by $8.44 million. Here are some comments from HDFC Bank Ltd’s (NSE:HDFCBANK) Q3 2024 earnings call: You’ll see on Page 11, balance sheet remains resilient. LCR for the quarter was 110%, capital adequacy ratio was at 18.4%, Tier 1 ratio at 16.8%. Let’s start with net revenues on Pages 12 and 13. Net revenues for the quarter were at INR 396 billion, grew by 25.8% over prior year. Net interest income for the quarter, which is 72% of net revenues and is at INR 285 billion, grew by 23.9% over prior year. The core net interest margin for the quarter was at 3.4%, and on an interest earning asset basis, net interest margin for the quarter was at 3.6% and was flat to prior quarter. Getting to details of other income on Page 15. Total other income at INR 111 billion. Fees and commission income, which is almost close to 2/3 of the other income was at INR 69 billion and grew by 15% over prior year. Now that we have discussed the economic outlook of India, one of our most spoken languages in the world, let’s look at the top 25 most spoken languages in the world in 2024. Copyright: kbuntu / 123RF Stock Photo Our Methodology To compile the list of the top 25 most spoken languages in the world in 2024, we sourced our data from Ethnologue. Ethnologue provides a comprehensive database for speakers of over 7,000 languages. We have used the total number of speakers for each language as a metric to rank the languages. Please note that the total number of speakers mentioned in the sub-head includes the count for both native and second-language speakers. The list is ranked in ascending order based on the total number of speakers. Top 25 Most Spoken Languages In The World 2024 25. Iranian Persian Number of Total Speakers: 78.6 million Top on our list is Iranian Persian. It is the official language of Iran, with two dialects, Dari and Tajik, being officially spoken in Afghanistan and Tajikistan, respectively. It belongs to the Indo-Iranian language family and is written in Arabic characters. 24. Korean Number of Total Speakers: 81.7 million Korean belongs to the Altaic language family and is an official language in North and South Korea. It is spoken by over 81.7 million people around the globe. Korean speakers are also found in the United States, China, and Japan. 23. Tagalog Number of Total Speakers: 83.1 million Tagalog ranks 23rd on our list of 25 most spoken languages in 2024. It is the official language of the Philippines, along with English. Tagalog belongs to the Austronesian language family and is closely related to the Bicol and Bisayan languages. It is spoken by over 83.1 million people around the world. 22. Wu Chinese Number of Total Speakers: 83.4 million Wu Chinese is one of the dialects of the Chinese language. It is the most commonly spoken dialect in Shanghai, Hangzhou, Suzhou, Ningpo, and Wenzhou. The Wu dialect differs from the standard spoken Chinese in the sound system and the different vocals that are used to pronounce similar words and elements. 21. Vietnamese Number of Total Speakers: 85.8 million The Vietnamese language belongs to the Mon-Khmer language family and is spoken by over 85.8 million people around the globe. It is the official language of Vietnam and has over a hundred dialects. The Vietnamese language borrows a large proportion of vocabulary from the Chinese and Thai languages. 20. Tamil Number of Total Speakers: 86.6 million Making it to the top 20 most spoken languages in the world in 2024 is the Tamil language, which is primarily spoken in India, Sri Lanka, and Singapore. It is also the official language of the Indian state of Tamil Nadu and other countries, including Sri Lanka and Singapore. It is spoken by over 86.6 million people around the globe. 19. Yue Chinese Number of Total Speakers: 86.6 million Yue Chinese, also known as Cantonese, is a dialect of Chinese commonly spoken in Guangdong and southern Guangxi provinces of China. It is spoken by approximately 86.6 million people around the globe. 18. Turkish Number of Total Speakers: 90 million Turkish ranks 18th on our list of the most spoken languages. It belongs to the Altaic language family and is the official language of Turkey. Turkish speakers are also found in Cyprus, Europe, and the Middle East. 17. Telugu Number of Total Speakers: 96.0 million Telugu is one of the largest members of the Dravidian language family. It is primarily spoken in India and is the official state language of the Andhra Pradesh and Telangana states of India. There are over 96 million Telugu speakers in the world. 16. Marathi Number of Total Speakers: 99.2 million Marathi ranks as the 16th most-spoken language in the world. It belongs to the Indo-Aryan language family. Within India, the language is spoken in Mumbai, Goa, and Deccan. It is the official state language of Maharashtra. 15. Egyptian Spoken Arabic Number of Total Speakers: 102.4 million Egyptian Spoken Arabic ranks as the 15th most-spoken language in the world in 2024. It is the official language of Egypt and is the most widely spoken dialect of the Arabic language. Egyptian-spoken Arabic has many features similar to Standard Arabic and is influenced by other languages, including Coptic, Turkish, and French. 14. Nigerian Pidgin Number of Total Speakers: 120.7 million Nigerian Pidgin ranks 14th on our list. It is a Pidgin language spoken in Nigeria. Nigerian Pidgin is based on English and is used mostly for informal conversations. It is spoken by over 120.7 million people in the world. 13. Japanese Number of Total Speakers: 123.4 million Japanese is categorized as an isolated language that does not relate to any other language in the world. It is the official language of Japan, and Japanese speakers are also found in North and South America. It is spoken by over 123.4 million people around the globe. 12. German Number of Total Speakers: 133.2 million German belongs to the Indo-European language family. It is the official language in Germany and Austria. It is also one of the official languages of Switzerland, along with English, Frisian, and Dutch. 11. Indonesian Number of Total Speakers: 199.1 million The Indonesian language belongs to the Austronesian language family. It is the official language of Indonesia, and speakers are in Malaysia, Brunei, the Philippines, and Taiwan. It is spoken by around 199.1 million people around the world. 10. Urdu Number of Total Speakers: 231.7 million Making it to the top 10 on our list is the Urdu language. It belongs to the Indo-Aryan language family and is the official language of Pakistan. The speakers of the Urdu language are found in India and migrant communities within the United States, United Kingdom, Australia, and Canada. It is spoken by over 231.7 million people around the world. 9. Russian Number of Total Speakers: 255 million Russian is the official language of Russia, Belarus, Kyrgyzstan, and Kazakhstan. It belongs to the Slavic language family and the Ukrainian and Belarusian languages. There are over 255 million Russian speakers around the world. 8. Portuguese Number of Total Speakers: 263.6 million Portuguese ranks 8th on our list of most spoken languages. It is a Romance language spoken as an official language in Portugal. Its speakers are also in Angola, Brazil, and other former Portuguese colonies. 7. Bengali Number of Total Speakers: 272.8 million Bengali belongs to the Indo-Iranian language family. It is the official language of Bangladesh and is spoken in India and amongst immigrant communities in the United Kingdom, the United States, and the Middle East. It is spoken by approximately 272.8 million people around the world. 6. Arabic Number of Total Speakers: 274.0 million Arabic is a Semitic language in North Africa, the Arabian Peninsula, and the Middle East. It is spoken by approximately 274 million people around the globe. Click to continue reading and see the Top 5 Most Spoken Languages In The World 2024. Suggested Articles: 15 Most Honest Cities in the World 12 Fastest Declining Cities in Florida 10 Biggest Smartwatch Companies in the World Disclosure: None. Top 25 Most Spoken Languages In The World 2024 is originally published on Insider Monkey......»»
Looking To Start Earning Passive Income in March? Here Are 6 Top Dividend Stocks
Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations. A recent study from the Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized […] The post Looking To Start Earning Passive Income in March? Here Are 6 Top Dividend Stocks appeared first on 24/7 Wall St.. Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations. A recent study from the Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized return of 9.18% over the past half-century (1973-2023). Over the same timeline, this was more than double the annualized return for non-payers (3.95%). Most dividend investors seek solid passive income streams from quality dividend stocks. Passive income is a steady stream of unearned income that doesn’t require active traditional work. Shared ideas for earning passive income include investments, real estate, or side hustles. We screened our 24/7 Wall St. passive income research database, looking for the top dividend stocks that can supply consistent, dependable income for investors looking to establish a solid passive income stream. Six Blue-Chips stocks made the grade, and all are rated Buy on Wall Street. AT&T AT&T is the world’s fourth-largest telecommunications company in terms of revenue. The legacy telecommunications company has been going through a lengthy restructuring while lowering the dividend, which still stands at a rich 6.45%. AT&T, Inc. (NYSE: T) provides worldwide telecommunications, media, and technology services. Its Communications segment offers wireless voice and data communications services. AT&T sells through its company-owned stores, agents, and third-party retail stores: Handsets Wireless data cards Wireless computing devices Carrying cases Hands-free devices AT&T also provides: Data Voice Security Cloud solutions Outsourcing Managed and professional services Customer premises equipment for multinational corporations, small and mid-sized businesses, and governmental and wholesale customers. In addition, this segment offers residential customers broadband fiber and legacy telephony voice communication services. It markets its communications services and products under : AT&T Cricket AT&T PREPAID AT&T Fiber The company’s Latin America segment provides wireless services in Mexico and video services in Latin America. This segment markets its services and products under the AT&T and Unefon brands. Chevron Chevron is the second-largest direct descendant of Standard Oil. This integrated giant is a safer way for investors looking to position themselves in the energy sector. It pays a rich 4.35% dividend, and Buffett added 16 million shares in the first quarter. Chevron Corporation (NYSE: CVX) engages in integrated energy and chemicals operations worldwide through its subsidiaries. The company operates in two segments: Upstream Downstream The Upstream segment is involved in the following: Exploration, development, production, and transportation of crude oil and natural gas; Processing, liquefaction, transportation, and regasification associated with liquefied natural gas Transportation of crude oil through pipelines Transportation, storage, and marketing of natural gas, as well as operating a gas-to-liquids plant The Downstream segment engages in: Refining crude oil into petroleum product Marketing crude oil, refined products, and lubricants Manufacturing and marketing renewable fuels Transporting crude oil and advanced products by pipeline, marine vessel, motor equipment, and rail car Manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives Chevron announced in the fall that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The transaction’s total enterprise value, including debt, is $60 billion. Berkshire Hathaway owns 6.8% of Chevron’s outstanding stock with 126,093,326 shares, and the energy giant makes up 5.1% of the portfolio. Kenvue Kenvue is the proprietor of well-known brands such as Aveeno, Band-Aid, Benadryl, Zyrtec, Johnson’s, Listerine, Mylanta, Neutrogena, Tylenol, and Visine. Spun off from Johnson & Johnson, Inc. (NYSE: JNJ) last year, this potential total return home run pays a solid 4% dividend. Kenvue Inc. (NYSE: KVUE) is a global consumer health company. The company operates through three segments: Self Care Skin Health and Beauty Essential Health The self-care segment offers cough, cold, and allergy pain care, digestive health, smoking cessation, and other products under: Tylenol, Nicorette Zyrtec brands. The Skin Health and Beauty segment provides face and body care, hair care, sun care, and other products under: Neutrogena Aveeno OGX brand names. The Essential Health segment offers oral and baby, women’s health, and wound care products under: Listerine Johnson’s Band-Aid Stayfree brands Pfizer The company was established in 1849 in New York by two German entrepreneurs. This top pharmaceutical stock was a massive winner in the COVID-19 vaccine sweepstakes but has been crushed as many are not getting boosters. Pfizer Inc. (NYSE: PFE) discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide and pays a hefty 6.17% dividend, which has risen yearly for the last 14 years. The company offers medicines and vaccines in various therapeutic areas, including: Cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands Biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands Sterile injectable and anti-infective medicines and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands. Pfizer also provides medicines and vaccines in various therapeutic areas, such as: Pneumococcal disease, meningococcal disease, tick-borne encephalitis COVID-19 under the Comirnaty/BNT162b2, Nimenrix, FSME/IMMUN-TicoVac, Trumenba, and the Prevnar family brands Biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel, Inflectra, Eucrisa/Staquis, and Cibinqo brands Amyloidosis, hemophilia, and endocrine diseases under the Vyndaqel/Vyndamax, BeneFIX, and Genotropin brands Plains All American Pipeline Plains All-American owns and operates midstream energy infrastructure and provides logistics services. This stock has been locked in a tight trading range, looks ready to break out, and pays a fat 7.60% dividend. Plains All American Pipeline, L.P. (NYSE: PAA), through its subsidiaries, transports, terminals, stores, and gathers crude oil and natural gas liquids (NGL) in the United States and Canada through pipelines. The company operates in two segments: Crude Oil Natural Gas Liquids (NGL) The Crude Oil segment offers: Gathering and transporting crude oil through pipelines Gathering systems, Trucks, barges, or railcars This segment provides terminalling, storage, and other facilities-related services and merchant activities The Natural Gas Liquids segment provides: Gathering Fractionation Storage Transportation Terminalling activities This segment also involves ethane, propane, normal butane, iso-butane, natural gasoline, and crude oil refining processes. Universal Corporation Universal Corporation is one of the world’s top tobacco merchants While this company’s products, like Altria’s, may not be for everyone, they have strong demand, have been in business for almost 150 years, and offer shareholders a hefty 6.32% dividend. Universal Corporation (NYSE: UVV) processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments: Tobacco Operations Ingredients Operations. It is involved in procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products. The company contracts, purchases, processes, and sells flue-cured, burley, and oriental tobaccos primarily used in the manufacture of cigarettes and dark air-cured tobaccos primarily used in the manufacture of cigars, naturally wrapped cigars and cigarillos, smokeless, and pipe tobacco products. Universal Corporation also provides value-added services, including: Blending Chemical and physical tobacco testing Service cutting for various manufacturers Manufacturing reconstituted leaf tobacco Just-in-time inventory management services Electronic nicotine delivery systems Customer smoke testing services ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored) If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement. Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies. Sign up today — click here to start your journey. The post Looking To Start Earning Passive Income in March? Here Are 6 Top Dividend Stocks appeared first on 24/7 Wall St.......»»
3 Stocks Under $5 That Wall Street Thinks Will Grow 35% or More
Here are three stocks that are trading for less than $5 apiece and are expected to soar in the coming year. The post 3 Stocks Under $5 That Wall Street Thinks Will Grow 35% or More appeared first on 24/7 Wall St.. Many investors, including more aggressive traders, look at lower-priced stocks with growth prospects as a way both to make some good money and to get a higher share count. That can really help the decision-making process, especially when investors are on to a winner. Then they can always sell half and keep half. We screened our 24/7 Wall St. equity research database, looking for inexpensive stocks that analysts project will grow 33% or more in the next 12 months. We found three that fit the bill perfectly, plus they are expected to have positive earnings growth in the next five years, and they come with dividends. Here are three cheap growth stocks. That is, they trade for less than $5 apiece and are expected to soar at least 33% this year. B2Gold Gold miner exceeds expectations. Stock: B2Gold Corp. (NYSE: BTG) Mean price target: $4.25 Upside potential: 61.6% This Vancouver-based gold producer operates the Fekola mine in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia. It also has a 100% interest in the Gramalote gold project in Colombia, as well as a portfolio of other evaluation and exploration assets in Mali and Finland. In the most recently reported quarter, B2Gold said the Fekola, Masbate, and Otjikoto mines had exceeded their expected production, and construction at the Goose project in Nunavut, Canada, was ahead of schedule. (These countries have most of the world’s gold.) The stock peaked near $7 a share in the summer of 2020. The share price is around 21% lower than a year ago and down more than 16% year to date. The consensus price target is less than the 52-week high of $4.40, but analysts on average recommend buying the shares. A little over 1% of the shares are sold short, and the dividend yield is about 6%. Nordic American Tankers Tanker company sees rising demand. Stock: Nordic American Tankers Ltd. (NYSE: NAT) Mean price target: $6.20 Upside potential: 53.5% This Bermuda-based tanker company acquires and charters double-hull tankers globally. It operates a fleet of about 20 Suezmax crude oil tankers. The company reports that U.S. exports and Chinese imports are both increasing, and geopolitical concerns in the Middle East have driven up demand. Also, the company has less debt than its competitors. The stock ended 2023 more than 37% higher year over year, outperforming the S&P 500. Year to date, however, the share price is less than 4% lower. The analyst’s mean price target would be a multiyear high. The stock’s all-time high is above $54 per share. Short interest is less than 2%, and the dividend is a hefty 11.7%. Martin Midstream Partners Midstream energy company slashes debt. Stock: Martin Midstream Partners L.P. (NASDAQ: MMLP) Mean price target: $3.50 Upside potential: 35.1% The Texas-based company provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. Its Terminalling and Storage segment owns or operates various marine shore-based terminal facilities and specialty terminal facilities. The Transportation segment operates various trucks and tank trailers, inland marine tank barges, inland push boats, and articulated offshore tug and barge units. The Sulfur Services segment processes molten sulfur. And its Specialty Products segment stores, distributes, and transports natural gas liquids. The company recently posted strong fourth-quarter results for a year in which debt reduction was management’s focus. Though the share price is less than 7% lower than a year ago, the stock is up about 8% since the beginning of the year, outperforming the broader markets due to its earnings report. That $3.50 price target would be a new 52-week high. The all-time high is above $46 a share. Analysts are cautious, though, with only three of nine having Buy ratings. The CEO, CFO, and other insiders have been buying small batches of shares this year. The short interest is less than 1%, and the dividend yield is about 0.8%. Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored) Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today. Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month. Click here now to get started. The post 3 Stocks Under $5 That Wall Street Thinks Will Grow 35% or More appeared first on 24/7 Wall St.......»»