|Bid||53.51 x 800|
|Ask||53.52 x 2200|
|Day's Range||53.03 - 53.98|
|52 Week Range||51.29 - 87.67|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||10.05|
|Earnings Date||Aug 6, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||3.12 (5.30%)|
|1y Target Est||73.50|
DENVER, May 22, 2019 /PRNewswire/ -- EnerCom is pleased to announce that Senior Vice President and Chief Financial Officer of Occidental Petroleum (OXY) Cedric Burgher will deliver the luncheon keynote address on Monday, August 12, 2019, at EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel. Mr. Burgher joined Occidental in May 2017 bringing more than 25 years of experience in the energy sector. Prior to joining Occidental, he was senior vice president of investor relations at EOG Resources (EOG), and he led financial organizations at QR Energy, Quantum Energy Partners, KBR, Halliburton (HAL) and Baker Hughes (BHGE). Mr. Burgher's experience includes a decade of CFO experience, leading two IPOs and a broad range of M&A and capital markets transactions.
At close to 6%, the recent victor in the Anadarko wars sports its highest dividend yield in more than 16 years – more than in the energy-sector panic of early 2016 or the financial crisis. To be fair, Oxy’s yield has been higher than average for years. Besting Chevron Corp. was a big score for Oxy’s M&A crew (and corporate jet department) but has, up to this point, been a disaster for valuation.
Norway's Equinor (EQNR) acquired an additional 22.45% stake in GoM's Caesar Tonga oilfield, while energy services behemoth Schlumberger (SLB) sold several drilling assets for $400 million.
Edelman Senior Vice President Ira Gorsky From Anadarko’s sale to Occidental to T-Mobile’s purchase of Sprint to Bristol Myers Squibb’s acquisition of Celgene, big deals on Wall Street often put shares in the hands of an unfamiliar investor: the risk arbitrageur, or Arb. In the article below for CorpGov, Edelman Senior Vice President Ira Gorsky […]
Occidental Petroleum beat out Chevron to buy Anadarko Petroleum. But Occidental’s “victory” has not been hailed as such by the market.
According to GuruFocus' list of 52-week lows, these Guru stocks have reached their 52-week lows. The price of 3M Co. (MMM) shares has declined to close to the 52-week low of $166.25, which is 24.5% off the 52-week high of $219.75. The company has a market cap of $95.83 billion.
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.
CVS Health Corp., Vodafone Group PLC, Occidental Petroleum Corp. and BT Group PLC have declined to their respective 3-year lows
FT premium subscribers can click here to receive Due Diligence every day by email. The hedge fund industry is by and large divided between the haves and the have nots. Money tends to follow money. So while ...
(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.
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.
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.
Permian pure play Diamondback Energy (FANG) reported better-than-expected first-quarter earnings. Meanwhile, refiner Marathon Petroleum (MPC) swung to a surprise loss.
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.
Why Oil's Losing Momentum(Continued from Prior Part)Oil inventories and their five-year averageIn the week ending May 3, US crude oil inventories were on par with their five-year average—the same as the previous week. In the week ending April 12,
A $57 billion merger is poised to make a company new to Colorado the state’s biggest oil and gas producer, and its CEO sounds undaunted by dealing with Colorado’s new rules and controversies surrounding oil drilling. Houston-based Occidental Petroleum Corp. (NYSE: OXY), won a bidding war to buy Anadarko Petroleum Corp., the Woodlands, Texas-based company that employs 1,100 people in Colorado and operates more than 6,500 wells in the Denver-Julesburg Basin north and east of the Denver-metro area. Chevron Corp. (NYSE: CVX) withdrew from bidding May 9 after the board of Anadarko (NYSE: APC) board favored Occidental’s latest offer, supplanting the transaction Anadarko and Chevron reached earlier.
The case against Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) stock at the moment is reasonably simple to make. Yes, Warren Buffett and Charlie Munger have added billions of dollars in value to Berkshire Hathaway stock. But their ability to find an edge in an increasingly difficult -- and expensive -- market is fading. BRK.B stock basically has tracked the market for the last 10 years and actually has slightly underperformed in the process.Source: Shutterstock In other words, Berkshire Hathaway stock looks an awful lot like a mutual fund, at least considering the returns for the past decade. And skeptics would argue that's because Berkshire Hathaway, for a number of reasons, no longer has an edge.That is a real fear; both Buffett and Munger likely would admit that their stock-picking edge has diminished over time. But stock-picking isn't the only thing that has made Berkshire Hathaway one of the world's most valuable companies and BRK.A and BRK.B stock such wonderful performers. The company has a valuable edge elsewhere, as proven in a recent deal.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Is BRK.B Stock Really Just a Mutual Fund?There are reasons why it's simply tougher for Berkshire Hathaway to beat the market with its equity portfolio. The first issue, as Buffett himself has noted many times, is that Berkshire simply has too much capital. In the most recent shareholder letter, Buffett wrote of looking for an "elephant-sized acquisition." But multiples in this market -- and the premium required in an acquisition -- make such a reasonable deal tough to find. * 7 Dangerous Dividend Stocks to Stay Far Away From Without a deal, the need to invest as much as $100 billion limits Berkshire's investable universe significantly. There are only a few dozen companies in which Berkshire Hathaway could take a 5% or 10% stake, as it did decades ago with Coca-Cola (NYSE:KO) and American Express (NYSE:AXP).The second concern is that the Buffett model may not work in a changing economy. Berkshire Hathaway has been slow to invest in tech, with its sizeable position in Apple (NASDAQ:AAPL) possibly a case of getting in too late, as my InvestorPlace colleague Bret Kenwell pointed out earlier this year.Meanwhile, the portfolio has heavy investments in areas where the market is suggesting real caution. Coke stock has underperformed, a possible symptom of underlying concerns in the consumer products space. Kraft Heinz (NASDAQ:KHC) has been a disaster. Berkshire is huge into bank stocks, to which the market assigns low multiples, fearing a near-term cyclical peak. The same is true of the surprising move into the airline industry.All told, the edge in stock-picking here doesn't seem to be what it once was -- looking either at recent years or forward. And so some investors might believe Berkshire Hathaway stock only will match the market, at best. The Edge for Berkshire Hathaway StockThat may turn out to be the case. But what makes BRK.B stock particularly interesting is that if the equity portfolio does match the market, that's more than good enough.After all, Berkshire still has its portfolio of wholly owned businesses. And it has an edge there: it can value those businesses better than anyone else. If it sees the market underpricing those assets, it can buy back Berkshire Hathaway stock, as Buffett noted in the most recent letter. That creates more value for existing BRK.A and BRK.B shareholders.But the biggest edge is the company's ability to finance other big deals. That edge was highlighted by the recent deal to fund the takeover of Anadarko Petroleum (NYSE:APC) by Occidental Petroleum (NYSE:OXY). Berkshire Hathaway is acquiring $10 billion in 8% preferred stock.It's a great deal for Berkshire Hathaway -- to the point that Occidental shareholders complained about the 8% coupon at their annual meeting. Why would Anadarko raise capital at 8% when it likely could have booked a 6% interest rate in the bond markets?The answer, per the CEO of Occidental, is that timing was critical. And that's the edge here. Occidental's CEO flew into Omaha on Friday and had $10 billion on Monday. No one else in the country can offer that combination of speed and capital. It's not the first time Berkshire Hathaway has done such a deal, either. * 7 Cloud Stocks to Buy on Overcast Days During the financial crisis, it funded both Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS). It made billions off preferred stock and warrants of both companies. In 2008, Buffett executed a deal with General Electric (NYSE:GE) so favorable that Berkshire made more than 50% on its investment even though GE stock wouldn't bottom until 2009 and started falling again in recent years. Berkshire Hathaway Stock Going ForwardThat ability to raise capital will be an asset for Berkshire Hathaway even after Buffett and Munger have moved on. The float provided by the insurance operations and the "seal of approval" that comes from a Berkshire investment can't be valued -- but they're real assets.And they provide an edge for Berkshire stock going forward, even at its enormous current size. Investors are wondering if that edge is enough to offset the very real concerns about how the company can successfully invest its growing coffers. From here, the answer is that it probably will … and that BRK.B stock is a better choice than a standard index or mutual fund.For some investors, that's enough. For those who believe they can find their own edge in undercovered, undervalued, or underappreciated stocks, it's probably not. Berkshire Hathaway stock, thanks to its capital and reputation, probably can continue to beat the markets over time. But like so many things, it's not going to be quite what it used to be.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy as the Trade War Reignites * 10 Stocks That Could Squeeze Short Sellers, Including CGC * 5 Tech Stocks Getting Crushed Compare Brokers The post Occidental Deal Highlights The Edge In Berkshire Hathaway Stock appeared first on InvestorPlace.