-
Summary
Throughout the up-cycle, North American energy companies accumulated substantial cash reserves, enabling them to pursue growth strategies through consolidation, strengthen their balance sheets, and generously reward shareholders.
As the sector transitions into the mid-cycle, lower crude prices are impacting revenue. However, profitability remains resilient, driven by expanded market shares, increased production, and cost reductions.
Ongoing geopolitical tensions, an uncertain economic growth trajectory, and the risk of oversupply continue to pose challenges to energy companies’ margins.
Nevertheless, the energy sector continues to prioritize shareholder rewards, with the majority of upstream and integrated companies expected to increase their regular dividends while also complementing returns with share buybacks.
Join us for an engaging discussion with experts from our Dividend Forecasting, Commodity Insights, and S&P Ratings as we explore the following key topics:
- Energy transition trends: Examining the pace and challenges of the energy transition and the latest low-carbon investment trends.
- Total shareholder return trends: An analysis of how the surge in shareholder returns during the up-cycle is shaping expectations for the years ahead.
- Capital allocation policies: How do upstream companies adjust capital priorities in a lower cash flow environment with regard to debt, capex, M&A, buybacks, and dividends?
- Rating trends: A look at historical and current credit ratings and the key factors that could impact rating deterioration.
Speakers
S&P Dow Jones Indices
Chantal Michael
Director, Wealth Management Channel team
Chantal is Director for the Western Region of the U.S. and Head of Canada on the Wealth Management Channel team at S&P Dow Jones Indices (S&P DJI). She is responsible for educating financial advisors on benefits and strategies for index-based investing through ETFs. Her specific duties involve frequent and direct client contact through educational forums, webinars, and partner-sponsored events, and more focused delivery of S&P DJI research and content.
Chantal was formerly an Account Director at CFRA Research on the forensic research term, managing institutional client relationships with a focus on fostering client engagement and driving new business. She also performed duties at CFRA as a Sales Representative, selling independent global investment research to RIAs, individual investors, and academics. Previously, Chantal was a Business Development and Sales Executive at Diamond Mind, a K-12 payment processing company, focused on driving new sales and implementation of payment processing software to facilitate payment modernization mainly for Catholic schools. Prior to working in finance, Chantal worked in the mental health field managing programs for two separate non-profits: Goodwill Industries of the Chesapeake and Volunteers of America, focusing on advocating and guiding individuals with psychiatric diagnoses to re-enter the workforce.
Chantal holds a master’s degree from the University of Maryland, and a bachelor’s degree from the University of South Florida
S&P Global Ratings
Thomas Watters
S&P Global Ratings
Managing Director, Sector Specialist
Thomas Watters is a managing director and sector specialist within the Commodities team at S&P Global Ratings. Tom has served as the team leader for the North American oil and gas analytical teams, and regularly speaks to broadcast, print and online media on trends in the industry. Prior to this role, Tom served as the team leader for the metals & mining, paper & forestry and building materials industry teams in New York.
Before joining S&P Global in 1997 as a metals and mining analyst, Tom held positions as a middle-market account officer for Chemical Bank and a senior security analyst for the National Association of Insurance Commissioners, following the oil and gas, paper & forestry, and metals and mining industries.
Tom holds bachelor’s and master’s degrees in Banking and Corporate Finance from Hofstra University.
S&P Global Energy
Alyssa Coelho
Senior Equity Analyst
Alyssa Coelho is a Senior Analyst within Companies & Transactions Research at S&P Global Energy. She is responsible for Companies & Transactions equity analysis, valuations, and strategy assessment of European Integrated companies as well as E&P companies with a focus on Europe, Middle East and Africa. She joined the company in 2006 and previously supported and generated Alternative Energy research efforts. Ms. Coelho holds two BAs from Lafayette College.
S&P Global Energy
Maral Ryzakuliyeva
Senior Research Analyst
Maral Ryzakuliyeva is a Principal Analyst, Companies & Transactions Research, Upstream Solutions at S&P Global Energy.
Maral is responsible for S&P Global Herold North American company research, equity analysis, valuations, and strategy assessment of North American E&P companies. She is leading the effort to research company adherence to environmental, social, and governance (ESG) principles among the North American E&Ps. Previously, she focused on equity analysis, valuations, and strategy assessment of international integrated oil companies (IOCs) and national oil companies (NOCs). Maral joined S&P Global (now part of S&P Global) in 2010. She is a member of the Energy Forum.
Maral is fluent in Turkmen, Russian, and Turkish. She graduated from Turkmenistan Magtymguly University and holds a Master of International Affairs and an MA from Columbia University in New York.
S&P Global Market Intelligence
Vika Tambaeva
S&P Global Market Intelligence
Research Analyst, Equity Data, AMER
Vika Tambaeva is the Dividend Research Analyst in AMER, Equity Data & Analytics at S&P Global Market Intelligence
Vika is responsible for dividend forecasting analysis in the American region with a focus on the United States and Canada. She leads the U.S. research initiatives at the S&P Global Research Team. Her primary coverage is the North American Energy Sector.
Vika holds an MBA degree from the Zicklin School of Business at Baruch College of New York, NY.
Questions?
Please contact us if you need more information or have trouble accessing the webinar.