|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||48.95 - 49.99|
|52 Week Range||44.78 - 56.82|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||11.15|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||2.64 (5.33%)|
|1y Target Est||68.27|
(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.
Shares in Sophos jumped more than 15 per cent on Thursday, as the British cyber security group beat revenue expectations for the latest financial year. The Oxfordshire-based business, which sells security software to small and medium-sized businesses, beat analyst expectations, reporting an 11 per cent rise in revenues to $711m in the year ending March 31, despite what it called a “challenging” 12 months. Chief executive Kris Hagerman said on Thursday that Sophos had removed a previous target of achieving $1bn of billings, the value of products and services invoiced to customers, by 2020 as demand for its software as a service grew.
Jeremy Corbyn has a soft spot for Hugo Chávez, the late Venezuelan firebrand. The Labour leader has less sympathy for investors in the UK’s sprawling utilities sector. Its plan for nationalising energy networks makes clear only UK regulated businesses are in its sights.
Clydesdale Bank owner CYBG stressed its “resilient” start to the year despite coming under pressure from intense competition and a sluggish economy, with revenues and bad debt levels both worsening. Total revenues in the six months to March were flat year on year after accounting for last year’s acquisition of Virgin Money, at £843m. Lower margins on its mortgage book were offset by an increase in non-interest income from credit card fees.
French energy group Total said on Tuesday that the Cameron LNG export terminal in Louisiana had started up production of liquefied natural gas (LNG), with initial exports due in the coming weeks. The site is operated by Cameron LNG LLC which is jointly owned by Sempra Energy which has a 50.2% stake, while Total, Mitsui & Co Ltd. and Mitsubishi/NYK each have stakes of 16.6%. "With Cameron LNG start-up, we will achieve our target of being integrated along the gas value chain in the US since we are already a gas producer in the country," said Total chairman and chief executive Patrick Pouyanne.
Although it had been the underdog against Chevron in the competition to win Anadarko, Oxy pulled out all the stops to make a deal happen, one analyst said.
The Woodlands-based Anadarko Petroleum Corp. (NYSE: APC) officially terminated its previously announced acquisition deal with Chevron Corp. (NYSE: CVX) on May 9, the same day that the California-based energy giant bowed out of a bidding war over the company. Houston-based Occidental Petroleum Corp. (NYSE: OXY) came out on top in that fight. The companies also announced May 9 that they have entered into a definitive merger agreement for Occidental to acquire Anadarko.
“Winning in any environment doesn’t mean winning at any cost. Cost and capital discipline always matter, and we will not dilute our returns or erode value for our shareholders for the sake of doing a deal.”
Italy’s Enel grew profits in the first quarter driven by its green energy division as well as the strong performance of its businesses in Latin America. The company’s net financial debt rose by 9.7 per cent to €45bn, which Enel said was a result of the application of new IFRS 16 accounting rules, as well as capital expenditure, dividend payments and acquisitions.
The head of the world’s largest sovereign wealth fund said it was “the most important” decision in its 20-year history. But when Norway’s government decided last month to keep the country’s $1tn oil fund ...
It’s often said that in order to be a successful day trader, one must master technical analysis and focus only on patterns, charts, and trends. The fundamental analysis, though, is usually left out of the conversation, which is not necessarily a good thing, because fundamental analysis can often be very helpful, particularly with industries that […]
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Just a day earlier, Occidental had sweetened its proposed offer to acquire Anadarko. Now, Chevron has until the end of the week to do the same.
Occidental is prodding Anadarko's board to abandon its $33 billion merger agreement with Chevron. Occidental on Sunday increased the cash component of its $38 billion bid, removing a requirement to win the approval of Occidental shareholders.
"The potential acquisition of Anadarko's stake in Mozambique LNG is representative of Total's ambitious and aggressive expansion of its LNG position," Wood Mackenzie research director Nicholas Browne said. Total acquired Engie SA's LNG business in 2018 and has stakes in several projects under construction or development, including Russia's Arctic LNG-2, Papua LNG, Nigeria's NLNG 7, Sempra Energy's Cameron in Louisiana and Costa Azul in Mexico, Tellurian Inc's Driftwood in Louisiana and an expansion project in Qatar, Wood Mackenzie said.
Occidental increased the cash portion of its bid to 78 percent from 50 percent on Sunday. It also pledged to cover the $1 billion breakup fee Anadarko would have to pay for abandoning an already-agreed to deal with Chevron Corp., and said Occidental shareholders won’t be required to vote on the takeover. “Clarity of closing was the lower-cost” option over raising the offer, Occidental Chief Executive Officer Vicki Hollub said on a conference call Monday.
Europe stocks join a global equity selloff triggered by fresh doubts over the U.S. and China getting a trade deal done.
European shares fell sharply on Monday after U.S. President Donald Trump unexpectedly ratcheted up trade tensions between the world's largest economies by vowing to hike tariffs on Chinese goods by this week, prompting investors to flee riskier assets. Germany's DAX – the most sensitive to China and trade war fears - and France's CAC led declines, down 1.7 percent and 1.8 percent respectively. Oil prices slumped and Asian shares took a beating after Trump, in an unexpected move to mount pressure on China, said on Sunday that trade talks with China were proceeding "too slowly", and that he would raise tariffs on $200 billion of Chinese goods to 25 percent on Friday from 10 percent.
The move means Occidental shareholders who oppose the bid, including T Rowe Price, will not get an opportunity to vote it down. It adds more certainty to the offer for Anadarko, but also risks the ire of billionaire investor Carl Icahn, who sources have said has been amassing a stake in Occidental to challenge its Anadarko offer. Occidental is trying to convince Anadarko to accept its offer and abandon the agreed $33 billion sale to Chevron Corp.
OXY also said it's reached an agreement to sell Anadarko's Algeria, Ghana, Mozambique and South Africa assets to Total S.A. Occidental amended the terms of its $76-a-share bid for Anadarko to $59 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock vs. a previous offer of $38 cash and 0.6094 shares of OXY stock. The move comes even though Chevron entered into a definitive agreement in April to buy for cash and stock to equal to $65 a share when that proposal was announced, although market moves have since lowered that bid's stock value a bit.