Great reply from APA (quoted in WSJ article):
Apache said it welcomes Jana's investment. "We are focused on continuing to execute our strategic plan to rebalance our portfolio and to focus our strategy on more predictable and profitable production growth in our North American onshore assets," spokesman Patrick Cassidy said.
However, all this sudden gushing over APA makes me wary. Is APA in cahoots with Jana to increase the share price? Did Jim Cramer know this was coming down when he joined the APA fan club? Guess it doesn't matter as long as they are making us richer. Just don't let them take the money and run, leaving us holding the bag.
Yep. WSJ reports:
"Activist investor Jana Partners LLC has built a stake worth more than $1 billion in Apache Corp. APA -0.02% , and is calling for the oil and gas producer to exit some of its most expensive projects to free up cash flow.
'Investors are unimpressed by [Apache]'s global diversification and have voted with their feet,' Jana said in a letter to its investors Monday that was reviewed by The Wall Street Journal. The hedge fund noted the company's poor performance compared to that of its rivals.
Houston-based Apache has already taken steps in line with Jana's goals, raising billions of dollars in recent years by selling properties around the globe. The company has spent more than $2 billion buying its own stock in the last year, and its board recently authorized more share repurchases.
An Apache spokesman had no comment. Apache shares were up more than 4% after hours Monday.
Bloomberg News first reported on Jana's position."
100k shares traded in larger increments now. Definitely is trading on non-public information or a rumor. Did Cramer say something on his show?
33k total shares traded in 100 share increments. Perhaps somebody is being coy around non-public information or spotted a limit order exposure.
That's a very short-term trader perspective. Dividends mean much to those investing for income and long-term capital appreciation.
The amendment was required to continue paying the current dividend (~$13M quarterly) after the third quarter. Just what we have been awaiting to settle down and maintain a core holding. Now watch oil and gas prices collapse.
I don't know. I would love to be a buyer, too, but circumstances in the offshore drilling industry are reminiscent of developments in the shipping industry as new-build dry bulk vessels and tankers flooded the market. Companies using the most financial leverage were the first ones swirling down the drain as day rates collapsed. Please convince me I'm wrong.
Someone is misinformed. As last reported, only Ross (18.7%), Oaktree (16.6%) and Fairfax (6.4%) own more than 5% of XCO shares. You can see their combined ownership falls well short of 50%.
Did you hear the other clown on the panel, Josh Brown, say KMI was not a stock to trade because of the K-1's? Demonstrates that viewers should verify independently anything they hear on that - or any other - television show proffering trading or investment advice.
We are giving up nothing but wasted lives and defense spending. The US only finagled its way into Iraq to secure oil supply before 3D seismic, horizontal drilling and hydraulic fracturing technologies came into their own. I can guarantee you the US never would have started the Iraq war if the shale revolution occurred ten years earlier.
Appears you have your answer. Hope you went with APC. Think Jim Cramer confused the tickers when he cited APA as a takeover candidate.
Good luck to you. We will miss all of the sane VLO followers that have better things to do than sort through pages of the ignored drivel on this message board.