5:42 pm Pinnacle Foods prices secondary offering of 17 mln shares of common stock at $26.75 per share (PF) : Co announced the pricing of the previously announced secondary offering of 17 million shares of its common stock to be sold by certain of its stockholders at a price to the public of $26.75 per share. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by Pinnacle Foods. Barclays, BofA Merrill Lynch, Deutsche Bank Securities, Credit Suisse, Goldman, Sachs & Co. and Morgan Stanley are acting as joint bookrunning managers for the offering.
The reason for the ceramics is that Kodiak has some of the deepest and best acreage in the play. Because of the pressure the sand is crushed and does not hold the fracks open, thus leading to lower total oil from each well. In their last mineral rights purchase, they did pick up acreage further north where sand is used.
I do not think that there are many shares of this stock in individual investor hands. Blackstone still controls the company and my guess is that most of the original IPO went to institutions, as will this secondary. For a stock with an 80+ million share float, there is not very much volume.
Apple has used marketing to convince consumers to buy a commodity product for many times than it is really worth and built a 1/2 trillion dollar market cap business. CELG on the other hand is involved in saving lives with dynamic products and has a deep pipeline of new therapies on the horizon. market cap seems high at $70 billion. I think this company can multiply that over many times in the coming years. Once you make a great investment decision, buying, selling, shorting is a waste of time.
I do not dislike AAPL, just used it as an example because of it's giant market cap and that a truely dynamic company can get to that level.
I own shares in this company. Worthwhile listening to their conference calls. The CEO gives a lot of info about economy in general. He is slightly bullish on a turn around in Europe and they are going to start commiting CAPEX money to ramp up some of their divisions. Along with other manufacturing CEO's they have been talking about input costs (commodities) coming down. The last time this happened was the early 1980's and the market went up about 16 times. In order to have a long term secular bull market commodities must remain relatively low.
SAN DIEGO, Dec. 10, 2013 /PRNewswire/ -- Sapphire Energy, Inc., one of the world leaders in algae-based Green Crude oil production, and Phillips 66 (PSX), an integrated energy manufacturing and logistics company, announced a strategic joint development agreement aimed at taking production of algae crude oil a significant step toward commercialization. The companies will work together to collect and analyze data from co-processing of algae and conventional crude oil into fuels. The goal is to complete fuel certifications to ready Sapphire Energy's renewable crude oil, called Green Crude, for wide-scale oil refining.
Under the agreement the companies will expand Sapphire Energy's current testing programs to further validate that Green Crude can be refined in traditional refineries and meet all of the Environmental Protection Agency's (EPA) certification requirements under the Clean Air Act. This includes determining the optimal operating conditions for processing algae crude oil into American Society for Testing and Materials (ASTM)-certified diesel, gasoline and jet fuel. Once the study is finished, the companies will work together to complete the EPA certification process to register a new fuel product entering the market.
"In under a year, Sapphire Energy has entered into contracts with two major companies in the oil and gas industry, showing that there is increasing momentum for algae fuel as a viable crude oil alternative, and significant interest by refiners to have new and better options to meet the California Low Carbon Fuel Standard (LCFS) and the federal Renewable Fuel Standard (RFS)," said Cynthia 'CJ' Warner, CEO and chairman of Sapphire Energy. "We're looking forward to building a strong relationship with Phillips 66, an established leader in research and development for next generation fuels, who understands the opportunity our Green Crude oil holds as a feasible and sustainable crude oil choice for refiners."
"Phillips 66 is committed to providing
Are the shares in the secondary part of the float or are they restricted shares of which there appears to be 33.9 million?? I would think that a lot of these 17 - 20 million shares get picked off by institutions, who do not have to worryabout scaling in over sometimes months. great opportunity for a fund that was trying to accumulate or needs a food stock to make an easy acquisition.
In the 1960's there were some pretty cold winters in the East. I went to Colgate Univ. in the NYS panhandle area. It is near Utica and in January and February it was often below zero for days on end. A few times we were around 20 below at night. My best recollection is that as soon as you went outside the hairs in your nose would freeze. Not long after that I was in Vietnam (unfortunately the war did not end when I was in college) and the highest I can recall was 118.
This is not an income stock like a utility or Chevron. It is primarily a growth stock that has a dividend component. They started with a low payout to get their feet on the ground. The early increases were to get the payout to a sustainable level that makes sense with the overall philosophy. I see them raising it once a year. They have already paid down debt to the low end of the desired range. Now that they have settled in and the MLP is complete, I could see them also using cash for either bolt on acquisitions or Joint ventures. DCP and CPChem are self funding.
When you look at the SE & SEP CAPEX program going out to the end of the decade, 3 cents is only the beginning. Then you have to add in their share of the DCP partnership, which appears to be self funding.
MILWAUKEE, Dec. 5, 2013 /PRNewswire/ -- The board of directors of Wisconsin Energy Corporation (NYSE: WEC) today approved capital investments totaling $711 million for 2014 to continue upgrading and modernizing its electric and natural gas infrastructure across the region. The board also reviewed a five-year capital budget that calls for investing between $3.2 billion and $3.5 billion over the period 2014 through 2018.
In addition, the directors authorized management to purchase – from 2014 through the end of 2017 – up to $300 million of the company's common stock through open market purchases or privately negotiated transactions. The directors also reviewed management's plan to maintain an appropriate capital structure by retiring up to $500 million of holding company obligations during the period 2014 through 2017.
"With the five-year construction plan that we presented today, we're placing a greater focus on the basic building blocks of our delivery business – pipes, poles, wires, transformers and substations – and on initiatives at our power plants that will lower our operating costs for customers," said Gale Klappa, chairman and chief executive officer. "I'm confident that this plan will allow us to deliver a high level of service quality and maintain our position as one of the most reliable energy companies in America," he added.
The company also reaffirmed that it expects 2013 earnings to be in a range of $2.43 to $2.48 a share.
BATESVILLE, Ind., Dec. 4, 2013 /PRNewswire/ -- The board of directors of Hillenbrand, Inc. (HI) has declared a regular quarterly cash dividend of $0.1975 per share on the company's common stock. On an annual basis, this is an increase of $0.01 per share to a total rate of $0.79 per share in fiscal year 2014. The dividend is payable Dec. 31, 2013, to shareholders of record at the close of business on Dec. 17, 2013.
Only a 1.3% increase. It is obvious they want to raise every year; however, as I mentioned in an earlier post, they are interested in saving cash for another takeover.
This is what is happening. They are paying down debt rapidly and per the last conference call are doing the following: 1. The last takeover is for the most part fully integrated into the company thus freeing the finance staff. 2. because of #1, there financial staff is now on the hunt for the next takeover candidate. This may take awhile; however, the cash on hand should start to accumulate for the next buy. With a market cap of less than $1.8 billion, they will slowly build themselves into a decent size manufacturing company.
Sentiment: Strong Buy
I do not know why your NG investment is getting panned, but I thought this little summary captured the essence of what PSX is all about. I have been a long time investor and now that I am retired spend more time analyzing companies plus all my holdings. I have been on PSX since the spin out and listen to all the conference calls and read the financial reports. This happens to be one of my favorite growth and income stocks.
KOG will only pay down the revolver debt. All oil companies use leverage. Even XOM has debt; however, in their case they have more cash than debt. The interest on debt is minimal compared to the cash flow. Also, reading down this string concerning depletion, that has been changing as new technology takes hold. The original oil fields in PA prior to 1850 extracted about 1% of the oil. New technology now recovers 50 - 70% in conventional fields. The % of recovered oil in shale is rising rapidly. Firthermore, spacing is tightening. We are barely in the first inning. Most of the anti's are short sellers, who are not going to effect the price buy posing on this site. The institutions dwarf what individuals own.
Most of the rights are owned by large independents such as COP, OXY, MRO, EOG, CLR, & HES. They are the companies that would benefit most from taking over small producers.
In order to export crude from the US, there is a law requiring a license. There is very little crude being exported and these are rare exceptions. Refined products are exported, especially diesel and other products that the US has little use for, but command high prices overseas. This keeps refineries running at full tilt and gives refiners better margins.
By Zacks Equity Research
U.S. energy giant, ConocoPhillips (COP) has completed the sale of its Algeria business unit to Indonesia’s state owned oil company – PT Pertamina. The sales consideration totaled $1.75 billion.
ConocoPhillips’ divestment of its Algerian unit will be value accretive for its shareholders as well as raise funds to concentrate on higher return assets. It will facilitate the company to focus on capital investments that will benefit production and cash margins and enhance returns on capital.
ConocoPhillips’ divestiture proceeds from 2012 through third-quarter 2013, were approximately $12.4 billion. The company would use these proceeds for general corporate purposes, and investments in its organic growth programs.
Houston, Texas-based ConocoPhillips is a major global exploration and production (E&P) company with operations and activities in 30 countries that include the U.S., Canada, UK/Norway, China, Australia, offshore Timor-Leste, Indonesia, Libya, Nigeria, Algeria, Russia and Qatar.
With leading positions in both natural gas and heavy crude oil in North America, as well as a legacy position in the North Sea and growing exposure to lucrative international regions, ConocoPhillips expects to replace reserves and sustain production growth over the long term. The company’s exploration initiatives toward liquids-rich plays are gaining momentum through the Eagle Ford, Bakken and North Barnett shale plays.
Again, ConocoPhillips completed the spin-off of its refining/sales business into a separate, independent and publicly traded company, Phillips 66 (PSX) in 2012. With this, ConocoPhillips shifted its complete focus to upstream operations and thus oil and gas prices play a major role in determining its performance.
We believe that any downtrend in the global economy will affect the supply-demand fundamentals of oil and gas, hurting the sales prices for crude oil and natural gas.
We have a Zacks Rank #3 (Hold) on ConocoPhillips.