|Bid||0.00 x 800|
|Ask||71.99 x 2200|
|Day's Range||71.15 - 72.52|
|52 Week Range||40.40 - 76.70|
|Beta (3Y Monthly)||1.34|
|PE Ratio (TTM)||59.81|
|Forward Dividend & Yield||1.20 (2.64%)|
|1y Target Est||N/A|
The New York-based investment firm has spoken with Anadarko’s management about its views and said it believes the $38 billion Occidental offer is superior to Chevron’s, the people said, asking not to be identified because the discussions are private. Chevron agreed this month to acquire Anadarko for about $33 billion. D.E. Shaw has also told Anadarko to remove any hurdles that would prevent other bidders from entering the process if it decides to accept Occidental’s offer or any others, the people said.
Occidental went public with its offer Wednesday and said it was essentially the same one made in January last year. Anadarko has said it’s evaluating the Occidental proposal. Anadarko didn’t immediately respond to requests for comment.
Anadarko Petroleum Corp, the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, beat analysts' estimates for quarterly profit on Thursday, fueled by higher sales volume and lower ...
In the latest trading session, Anadarko Petroleum (APC) closed at $71.77, marking a +0.52% move from the previous day.
On a per-share basis, the The Woodlands, Texas-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share. The results topped Wall Street expectations. ...
Anadarko Petroleum Corp,which is the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, reported a 7.2 percent fall in adjusted quarterly profit on Thursday, as it sold oil at ...
Buyback ETFs top the dividend growth ones of late. But things might change ahead with the saturation of benefits from the tax cuts. Therefore, investors can play these high dividend ETFs.
The Category 4 hurricane made landfall around 4 p.m. local time on Thursday, the U.K. national weather office said on its Twitter account. The Mozambican government urged residents in low-lying areas of its northern provinces to evacuate to higher ground, while authorities in neighboring Tanzania, Zimbabwe and Malawi warned of possible flooding. Cyclone Idai, which struck Mozambique in March and dumped rain on Malawi and Zimbabwe, left more than 1,000 people dead.
Investors are betting that Chevron will win the bidding war for Anadarko Petroleum. Chevron must lift its offer, the reasoning goes, but it doesn’t have to match one from Occidental Petroleum.
While being meet with skepticism from analysts -- who have called the bid “ill-advised” and “a very bad idea” -- the proposal shows the appetite of Chief Executive Officer Vicki Hollub, 59, who took over in 2016 as only the fourth CEO in the company’s history and is one of the few women leading a major oil producer. The price of the deal is only about $8 billion less than Occidental’s total market value. The move is fitting for a company that for decades was led by larger-than-life characters, including Ray Irani, who was for a time the industry’s highest-paid leader, pulling in $80 million in average compensation over several years.
High margins and a huge footprint were the reasons behind energy giant Chevron (NYSE:CVX) finally pulling the trigger and buying independent rival Anadarko (NYSE:APC) last week. The deal seemed to be a match made in heaven for CVX stock and its investors. It had everything that Chevron could want. And APC stock investors were also smiling after a few years of scraping by. Yep, everything seemed to be going just right for CVX.Source: Bureau of Safety and Environmental Enforcement via FlickrThat is, until another buyer stepped up to the plate.It turns out that Anadarko would be a great fit for another integrated oil giant. No, not Exxon (NYSE:XOM). We're talking about often-forgotten Occidental Petroleum (NYSE:OXY). For OXY, Anadarko represents a chance for it to finally join the supermajors and gain access to even more land in its core areas.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor Chevron, the booming buyout battle represents a major headache as it'll be forced to step even further up to the plate. Chevron Gets OverbidAs we said, Anadarko features plenty of assets that fit under Chevron's umbrella perfectly. The key to CVX's $33 billion bid and 39% premium is the prolific Permian Basin. The Permian continues to be the hotbed of drilling activity in the U.S. as its geology makes it wonderful for fracking and horizontal drilling. Thanks to its low-costs, high-margins and abundance of oil, the Permian has cemented itself as the place to be in America's shale. * 7 Dividend Stocks That Could Double Over the Next Five Years Both Anadarko and Chevron have been very active in the Permian and the deal would connect their acreage together -- with CVX controlling more than 1.4 million net acres. The synergies write themselves.But Chevron isn't the only one with massive holdings in the Permian. OXY isn't no slouch either. The firm is one of the largest acreage owners, holding about 2.7 million net acres in the region. It produces about 10% of the Permian's total oil production. All in all, the Permian represented about 57% of OXY's total production last year.Anadarko would represent a great addition to OXY's overall system in the area.For starters, APC's production would boost Occidental's overall output to more than 1.5 million barrels per day. This would instantly push OXY to the top chunk of the E&P pack. For example, ConocoPhillips (NYSE:COP) only produces about 1.3 million barrels per day. And there's an opportunity to boost that further with Occidental's expertise of enhanced oil recovery/CO2 injection in the area. Analysts peg that OXY could pull a potential to 1 million barrels per day from APC's assets by the late 2020s.Secondly, like with Chevron, Anadarko's assets would represent a chance to pull costs lower and improve margins. This includes APC's midstream assets -- which OXY pays to use already. The cost savings alone would help OXY's bottom line. Occidental estimates that the buyout can increase free cash flow by $3.5 billion over the next two years through these synergies and CAPEX reductions.Finally, many of Anadarko's other assets -- such as global deepwater and liquefied natural gas -- would represent new areas of operation for Occidental. However, OXY has a rich global portfolio and can spin-off/sell these non-core items to help pay for the deal and bring in extra cash.All in all, OXY and APC makes as much sense as the combination for Chevron. So, it's no wonder why OXY topped Chevron's bid by about $11 per share. Chevron Will Need To Buckle DownFor Chevron, this poses a big problem. As we said, it takes a take boost in production to move the needle at such a giant energy stock. And with production flatlining for most the majors, CVX has to buy someone the size of Anadarko to make a real dent in its production issues. And the assets here are just perfectly matched to suit CVX's needs.That means CVX is going to be forced to up its bid in order to get what it wants.Chevron has deep pockets, so scoring APC won't be a problem. But it's going to have to cough up plenty of extra cash to do so. Analysts estimate that CVX will need to add between $5 to $10 per share to its bid just to have a chance to score Anadarko. But that still might be enough as APC shares have traded above the price OXY is willing to offer. Meanwhile, Occidental has hinted that it will challenge the buyout if Chevron wins and their offer isn't marginally better.All of this could hinder the appeal of the deal for Chevron. The original buyout is already large. Tacking on extra cash and shares to sweeten the pot could hurt some of the synergies and benefits as well as stretch out the time until the deal truly pays off. That's something to consider. Chevron? OXY? The Real Winner Is AnadarkoBidding wars like this in the energy sector are very rare. In fact, they never happen. So, it'll be interesting to see how this plays out. Both OXY and Chevron are moving into unknown territory and the costs to play could be high. The real winner in this situation could be Anadarko.After suffering for a few years, APC stock is on fire because of the buyout potential. And no matter who buys it out, the premium is certainly nice for shareholders. And we can't forget about the other majors like Exxon who could make the love triangle a foursome. * 5 Hot Dividend Stocks to Buy as the Weather Heats Up In the end, APC stock could be the way to play the most exciting M&A opportunity in the energy patch in a long time. Disclosure: At the time of writing, Aaron Levitt did not hold a position in any stock mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Double Over the Next Five Years * 6 S&P 500 Stocks Ready to Break Out * 5 Mining ETFs to Dig Into Compare Brokers The post Occidental Petroleum Fires Back at Chevron, Starting a Bidding War for Anadarko appeared first on InvestorPlace.
Occidental Petroleum: What to Expect from Its Q1 Earnings(Continued from Prior Part)Analysts’ recommendations Among the 26 analysts tracking Occidental Petroleum (OXY), 62% recommended a “buy,” while 38% recommended a “hold.” None of the
Assets in the Permian Basin are the US oil industry’s equivalent of the Iron Throne in the TV show Game of Thrones: they are the prize that everyone covets. for Anadarko Petroleum, in an attempt to break up the agreed $50bn takeover by Chevron that it had announced on April 12. For Vicki Hollub, Occidental’s chief executive, the bid was a characteristically bold move, and a challenging one.
Whether or not Chevron wins its bid to acquire Anadarko, there's no doubting the oil giant has a long history of M&A. Take a deeper dive into the history of Chevron.
Chevron reports earnings on Friday. Investors, meanwhile, are wondering whether it might be about to get itself into a bidding war.
(Bloomberg) -- Tropical Cyclone Kenneth, a Category 4 storm bearing down on Mozambique, is set to make landfall later on Thursday.
Should you hold on to Anadarko as Occidental puts out a competing bid to Chevron's earlier offer? Jim Cramer breaks down why now isn't the time to sell.
STOCKSTOWATCHTODAY BLOG Three numbers to start your day: $38 billion is how much energy company (OXY) has offered to pay for (APC) That’s 21% more than oil giant Chevron offered to pay for Anadarko earlier this month.
for Anadarko Petroleum, Wall Street dealmakers were not surprised. Occidental has forged close relationships with both banks, particularly Bank of America, where it has regularly poached high-level talent. It is also a reflection of how Occidental has approached the deal — at first hoping to strike a friendly merger before being outmanoeuvred by oil giant Chevron — and how symbiotic its relationship has become with Bank of America, where it has repeatedly relied on high-level talent as part of its strategic decision-making.
Mozambican authorities declared a “red alert” in Cabo Delgado province as they prepared to evacuate people from the northern region. Relief agencies in the country are already stretched as they deal with the aftermath of Cyclone Idai, which struck in March and killed more than 1,000 people in Mozambique, Zimbabwe and Malawi.
The following are the top stories in the Wall Street Journal. - Occidental Petroleum Corp offered to buy Anadarko Petroleum Corp for $38 billion, launching a potential bidding war for a company that agreed earlier this month to be purchased by Chevron Corp for about $33 billion. - Merger talks between Deutsche Bank AG and Commerzbank AG have gotten bogged down over questions ranging from a lack of investor support to opposition from powerful labor unions, according to people familiar with the matter.