ADNOC signs $4 billion agreement with U.S investment giants
Abu Dhabi National Oil Company (ADNOC) recently confirmed that it has entered into a $4 billion midstream pipeline infrastructure deal with investing giants, BlackRock (BLK) and KKR (KKR), making the investment first of its kind in the Middle East.
ADNOC has been long contemplating to diversify revenue sources and bring private capital and more commercial management into the company. The said partnership is a landmark move in midstream pipeline infrastructure development for ADNOC.
The new entity will be called ADNOC Oil Pipelines that will lease the oil company’s interest in 18 pipelines, transporting crude oil and condensates across its upstream concessions for a 23-year period.
60% of the stake will be held by ADNOC, with the remaining 40% to be collectively held by a consortium of funds managed by two U.S. firms.
In the last couple of months, ADNOC has also signed agreements with other international gas and oil companies like Italy’s ENI and Austrian OMV in order to step up its import of capital.
KKR in upward trend: 10-day moving average moved above 50-day moving average on June 01, 2023
The 10-day moving average for KKR crossed bullishly above the 50-day moving average on June 01, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 22, 2023. You may want to consider a long position or call options on KKR as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for KKR just turned positive on May 19, 2023. Looking at past instances where KKR's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
KKR moved above its 50-day moving average on May 25, 2023 date and that indicates a change from a downward trend to an upward trend.
The 50-day moving average for KKR moved above the 200-day moving average on May 30, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where KKR advanced for three days, in of 366 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where KKR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
KKR broke above its upper Bollinger Band on June 02, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for KKR entered a downward trend on May 25, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. KKR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.545) is normal, around the industry mean (2.331). P/E Ratio (43.478) is within average values for comparable stocks, (74.495). Projected Growth (PEG Ratio) (1.425) is also within normal values, averaging (4.389). Dividend Yield (0.012) settles around the average of (0.072) among similar stocks. P/S Ratio (5.737) is also within normal values, averaging (44.277).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a provider of investment management services to investors
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KKR and
Correlation & Price change
A.I.dvisor indicates that over the last year, KKR has been closely correlated with BX. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if KKR jumps, then BX could also see price increases.
| Ticker / NAME | Correlation To KKR | 1D Price Change % | ||
|---|---|---|---|---|
| KKR | 100% | +0.31% | ||
| BX - KKR | 83% Closely correlated | -0.11% | ||
| ARES - KKR | 83% Closely correlated | -0.97% | ||
| APO - KKR | 82% Closely correlated | +0.92% | ||
| CG - KKR | 80% Closely correlated | +1.13% | ||
| HLNE - KKR | 79% Closely correlated | +2.47% | ||
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