|Bid||153.15 x 200|
|Ask||153.27 x 100|
|Day's Range||151.25 - 153.95|
|52 Week Range||106.73 - 162.91|
|PE Ratio (TTM)||23.84|
|Earnings Date||May 1, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||179.41|
NEW YORK, April 24, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of RSP Permian, Inc. ("RSPP" or the "Company") (RSPP) in connection with the proposed acquisition of the Company by Concho Resources Inc. ("CXO") (CXO) in a stock-for-stock transaction valued at approximately $9.5 billion, inclusive of debt. Under the terms of the agreement, the Company's shareholders will receive 0.32 of a share of CXO for each RSPP share they own, representing consideration of $50.24. WeissLaw is investigating whether RSPP's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $69.00 per RSPP share, or nearly $19.00 above the per share consideration.
In the week ending April 13, US crude oil inventories fell by 1.1 MMbbls (million barrels) to ~427.6 MMbbls. The market expected a fall of 0.5 MMbbls in the EIA’s data on April 18. On the same day, US crude oil June futures rose 2.9%.
The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero, Marathon and Concho Resources
After the Concho Resources-RSP Permian hookup, Callon Petroleum and Lilis Energy could be next to be swallowed up but potential buyers may be few.
U.S. output rose by 65,000 barrels per day last week to more than 10.5 million barrels per day - the most since the EIA started maintaining weekly data in 1983.
On April 11, 2018, US crude oil May futures rose 2.0% and closed at $66.82 per barrel—the highest closing level for US crude oil active futures since December 2, 2014. On the same day, Brent crude oil June futures closed at $72.06 per barrel—the highest closing level for Brent crude oil active futures since December 1, 2014.
The S&P 500’s (SPY) top gainers on April 11, 2018, were: Mattel (MAT) gained 6.6%. Hilton (HLT) gained 6.1%. Concho Resources (CXO) gained 4.5%. Envision Healthcare Holdings (EVHC) gained 3.8%. Flowserve (FLS) gained 3.8%. Mattel
In the week ending March 30, 2018, US crude oil inventories fell by 4.6 MMbbls (million barrels) to ~425.3 MMbbls. The market expected a rise by 1.4 MMbbls in the EIA’s data on April 4, 2018. On the same day, US crude oil May futures fell 0.2%. Rising US crude oil production, which we discussed in the previous part, could be behind the fall.
See what the median employee makes at Anadarko, Westlake Chemical, NRG, Concho Resources and Enbridge.
On March 29–April 6, 2018, US crude oil May futures fell 4.4% and settled at $62.06 per barrel on April 6, 2018. On March 30, 2018, the markets were closed for Good Friday.
Eni (E) is reportedly discussing with prospective buyers, including Qatar Petroleum, about the divestment of 20% to 35% stakes in the Campeche Bay oil prospect.
Concho Resources is poised to become the biggest Permian Basin driller by purchasing RSP Permian, but its stock is selling off.
Enbridge (ENB) will reportedly get $1.6 billion from the divestment of midstream assets, engaged in the gathering and processing of natural gas in Canada.
With Shell (RDS.A) already wrapping up divestment deals worth more than $23 billion, it remains focused to achieve its $30-billion divestment target within 2018.
The Zacks Analyst Blog Highlights: Comtech Concho Resources, RSP Permian, EOG Resources, Pioneer Natural Resources and Energen
The Permian Shale, which is spread over roughly 75,000 square miles of western Texas and southeastern New Mexico, is believed to hold enough oil to feed all the domestic refineries for 12 years.
Concho Resources (CXO) took the acquisition route to expand market reach in the Permian play, while Tallgrass Energy (TEGP) announced a merger deal to lower capital cost.
The contract for Rowan Viking will strengthen Rowan's (RDC) fleet. The company is likely to receive more contracts amid macro volatilities.