|Bid||69.00 x 4000|
|Ask||72.87 x 1400|
|Day's Range||72.36 - 72.70|
|52 Week Range||40.40 - 76.70|
|Beta (3Y Monthly)||1.83|
|PE Ratio (TTM)||76.43|
|Earnings Date||Jul 29, 2019 - Aug 2, 2019|
|Forward Dividend & Yield||1.20 (1.65%)|
|1y Target Est||70.40|
The oil and gas rig count in Texas fell to its lowest number last week since February 2018, according to data published May 17 by Baker Hughes, a GE Company (NYSE: BHGE). The total U.S. count was down by one to 987, according to the data.
Higher daily oil equivalent production and increased transported volumes of the commodity back Ecopetrol's (EC) year-over-year rise in quarterly results.
Futures in New York fell 0.2% on Friday, while Brent also declined. While tensions in the Middle East increased earlier this week following pipeline and tanker attacks, the threat of an escalating trade war remains present, with China’s state media signaling a lack of interest in resuming talks with the U.S. When it comes to the trade war, there were “expectations of this trade deal being signed before it was signed and now we are dealing with the repercussions of that optimism,” said Ashley Petersen, an oil analyst at Stratas Advisors LLC in New York.
Anadarko Petroleum (APC) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
(Bloomberg) -- Total SA had an eye on Anadarko Petroleum Corp.’s assets in Africa for over a year, Total Chief Executive Officer Patrick Pouyanne said.
French energy giant Total SA's planned acquisition of U.S. firm Anadarko's African assets is "perfectly fitting" with the company's overall strategy and helps play to its strengths, Chief Executive Patrick Pouyanne said on Thursday. Total agreed to buy all of Anadarko's oil-and-gas-producing assets outside the United States, including its biggest future expense, a multibillion-dollar liquefied natural gas project in Mozambique, for $8.8 billion. The deal is contingent on the wider, $38 billion proposed takeover of Anadarko Petroleum Corp by Occidental Petroleum Corp , which last month outmaneuvered rival Chevron, the No. 2 U.S. oil producer, which had also bid for Anadarko.
Whether it’s due to deal fever from the fight over Anadarko or not, transaction activity continued to pick up last week.
Schlumberger (SLB) announces that its centre of interest is to develop core drilling strategy with the sale of non-core assets.
The White House and US Department of Commerce took dual actions on Wednesday that would effectively ban Huawei from selling technology into the American market, and could also prevent it from buying semiconductors from Qualcomm in the US that are crucial for its production. Donald Trump issued an executive order declaring a “national emergency” in relation to threats against US telecoms, in a move that authorised the commerce department to “prohibit transactions posing an unacceptable risk” to national security.
The following is our latest Fund Analyst Report for T. Rowe Price Equity Income PRFDX . Morningstar Premium Members have access to full analyst reports such as this for more than 1,000 of the largest and best mutual funds. T. Rowe Price Equity Income has stuck to its playbook, earning a Morningstar Analyst Rating of Silver.
of rival Anadarko Petroleum, and many investors feared she was overreaching. Buying Anadarko, one of the largest US independent oil and gas groups, with assets around the world from Texas to Mozambique, will double the size of Occidental. The deal poses several operational risks as well as putting enormous pressure on Occidental’s balance sheet, he warned.
HOUSTON , May 15, 2019 /PRNewswire/ -- The board of directors of Anadarko Petroleum Corporation (NYSE: APC) today declared a quarterly cash dividend on the company's common stock of 30 cents per share, ...
Chevron will get a $1 billion breakup fee, and plans to increase its share buyback program to $5 billion a year. "Following the termination of the Chevron-Anadarko signed merger agreement ... our $144 12-month P/E, EV/DACF and dividend yield based target implies 24% total return.
It may seem like the outlook of Chesapeake Energy (NYSE:CHK) stock is becoming more favorable. Oil prices are higher, the early returns from CHK's recent acquisition are solid, and its last couple of quarterly results have looked decent at worst.Source: Chesapeake EnergyBut all that has done little for CHK stock, which continues to trend in the wrong direction.The recent fade of CHK stock only adds to the long-held frustrations of the owners of CHK. Chesapeake Energy stock has looked attractive for most of the last three years; I've recommended it myself on several occasions, while also highlighting the many risks posed by CHK stock.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Retirement Stocks That Won't Wilt in a Bear Market And Chesapeake Energy stock has made gains from time to time, climbing from $3 to $5+ last year, and doubling off its late December lows in the first part of 2019.Once again, however, CHK stock hasn't been able to hold its gains. And it's worth wondering when, if ever, that will change. The Case for Chesapeake Energy StockIn mid-2014, the shale bubble started to burst, and CHK stock was hammered. It was valued at $30 in mid-2014; in less than two years, CHK traded below $2 as bankruptcy rumors swirled.Since then, debt has been a big part of the contentions on Chesapeake Energy stock, by both sides. Bears and skeptics argue that CHK is one more oil price downturn away from bankruptcy fears returning. But in any case, the debt continues to weigh on the company and on CHK stock, limiting its ability to be as aggressive as it would like to be.For bulls, particularly from a valuation standpoint, the debt is a plus. CHK has a market cap of about $4 billion, which combined with that $10 billion in debt gives it an enterprise value of $14 billion. If one values Chesapeake's business at $1.4 billion, the value of CHK stock would jump 35% to $5.4 billion.So, fundamentally, the volatility of CHK stock makes some sense. And the recent downturn to $2.44 makes Chesapeake Energy stock more attractive, at least on paper. Another debt refinancing has pushed out maturities, giving the company breathing room. CHK continues to shift toward higher oil production, away from its legacy focus on natural gas, even as optimism toward U.S. shale oil is rising.CHK's acquisition of Wildhorse Resource Development seems to be a solid move, as I wrote when the deal was announced. It provides a larger asset base to back the debt - and more earnings to pay it off. And the company has shifted capital expenditure dollars to the Powder River Basin, where its acreage is performing exceedingly well at the moment.It seems like Chesapeake Energy itself is making progress. Yet Chesapeake Energy stock, save for the December bounce, isn't. Is This Time Different for CHK Stock?There are two broad issues at play when it comes to CHK stock. The first is that even with the recent bounce in oil prices, exploration and production stocks aren't doing all that well. Chesapeake Energy stock has lost about 28% of its value over the past year; but that performance is about average for its sector . Oil prices have fallen over that stretch, weighing on the sector's stocks.The second is that investors' patience with CHK stock likely is running out. Every Chesapeake earnings report seems to highlight CHK's potential. But its results simply haven't improved.Chesapeake has been targeting positive free cash flow for years, but it hasn't achieved that goal and probably won't this year. CHK has predicted that its adjusted EBITDAX (earnings before interest, taxes, depreciation, amortization, and exploration expense) will come in at $2.55 billion-$2.75 billion. But its interest expense of $500 million-plus and its expected capital expenditures of $2.1-$2.3 billion more than offset that.Chesapeake has been promising to pay down its debt for years. At the end of 2015, its long-term debt was $10.35 billion. CHK's debt is now nearly $10 billion, thanks to debt it assumed as part of the Wildhorse deal.The problem with the company's fundamentals, and with CHK stock, is that on paper, there's reason for optimism, but in practice, that optimism never seems to last. The Bottom Line on CHK StockSo what should investors do with Chesapeake Energy stock,? That's a tough question.On paper, bulls' contentions make some sense. And one thing CHK stock has proven is that it can bounce, even if those bounces soon fade. Certainly, nimble traders likely have done well with CHK, and that may be the case going forward as well.For investors, however, the decision is a little tougher. The acquisition of Anadarko Petroleum (NYSE:APC) by Occidental Petroleum (NYSE:OXY) could lead to more M&A activity in U.S. shale. But Chesapeake, given its huge levels of debt, probably won't become a takeover target.Even with Chevron (NYSE:CVX) likely on the prowl after losing out on Anadarko, and majors like Exxon Mobil (NYSE:XOM) potentially looking for shale assets, there are reasons for them to pass on CHK, at least in the near-term. And with the sector's stock prices still down over the past year, there are other, less-indebted, names that might be worth considering.I'm personally not ready to abandon my long-term bullishness on CHK stock just yet. But at a certain point, it's too difficult to keep fighting the tape. CHK stock has become a "show me" stock at this point, and other stocks seem to be better choices right now.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post What Will It Take to Finally Move Chesapeake Energy Stock Higher? appeared first on InvestorPlace.
Chevron Corporation (NYSE: CVX ) threw in the towel on its bid for Anadarko Petroleum Corporation (NYSE: APC ) after rival Occidental Petroleum Corp. (NYSE: OXY ) stepped in with a higher bid. Chevron ...
DENVER, May 14, 2019 /PRNewswire/ -- EnerCom, Inc. is pleased to announce that registration is open for the 24th annual edition of its popular The Oil & Gas Conference® in Denver, Colo. Conference Details: The Oil & Gas Conference® 24 offers investment professionals the opportunity to listen to senior management teams in the oil and gas industry present operational and financial strategies and to gain exposure to important energy topics affecting the global oil and gas industry.