|Bid||0.00 x 900|
|Ask||0.00 x 900|
|Day's Range||41.78 - 42.70|
|52 Week Range||33.60 - 49.59|
|PE Ratio (TTM)||18.76|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||1.00 (2.17%)|
|1y Target Est||49.29|
Apache (APA) estimates the net proceeds of $992 million from the notes offering that excludes the underwriting discount and includes expenses related to the offering.
Apache Corporation (NYSE, NASDAQ: APA) today announced that it has priced $1.0 billion in aggregate principal amount of 4.375% notes due 2028 in an underwritten public offering. Apache intends to use the net proceeds from the offering to purchase a portion of Apache’s outstanding senior indebtedness in cash tender offers with respect to several series of its outstanding notes commenced on August 9, 2018, with a maximum aggregate purchase price of $800.0 million (the “Tender Offers”), and for general corporate purposes. Joint book-running managers for the notes are BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC.
** Tesla Inc Chief Executive Elon Musk said on Monday a July 31 meeting with Saudi Arabia's sovereign wealth fund convinced him he could secure funding to take the electric car-maker private, but that he was still talking to the fund and other investors as he seeks to nail down financing. ** ATM machine maker Diebold Nixdorf Inc had hired Credit Suisse and Evercore last week to look for potential buyers as it plans to sell itself, CNBC reported on Monday, citing people familiar with the matter. ** VF Corp, one of the world's biggest apparel makers, will spin off Lee and Wrangler jeans into a separate public company, it said on Monday, allowing it to focus on its more profitable Vans sneakers and The North Face outerwear businesses.
On August 13–17, a variety of events could impact oil and natural gas prices. OPEC’s Monthly Oil Market report, which is scheduled to be released at the beginning of the week, is expected to be an important driver for oil prices. The EIA’s (U.S. Energy Information Administration) Drilling Productivity report is scheduled to be released on August 13. The EIA’s report will be another important factor for oil and natural gas prices.
On August 3–10, the United States Oil ETF (USO) fell 1.3%, the United States 12-Month Oil ETF (USL) fell 0.5%, and the ProShares Ultra Bloomberg Crude Oil ETF (UCO) fell 2.8%. These ETFs track US crude oil futures.
On August 3–10, US crude oil September futures price fell 1.3% and closed at $67.63 per barrel on August 10—the ninth consecutive close below $70.
The decline in oil prices may accelerate as the U.S. dollar soars higher, and that's bad news for oil stocks. Oil prices and the dollar tend to go in opposite directions, representing what experts call a negative correlation. Should the dollar continue to strengthen against other foreign currencies, the price of oil will probably decline.
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. The current level displays a positive indicator.
Apache Corporation (NYSE, NASDAQ: APA) today announced the commencement of tender offers (each, an “Offer,” and collectively, the “Offers”) to purchase up to $800 million in aggregate purchase price (excluding accrued and unpaid interest and excluding fees and expenses) (as such amount may be increased or eliminated by Apache pursuant to the terms of the Offers, the “Aggregate Maximum Purchase Price”) of its 6.000% notes due 2037, 7.95% notes due 2026, 7.70% notes due 2026, 7.625% debentures due 2096, 7.750% notes due 2029, 7.375% debentures due 2047, 7.625% notes due 2019, 2.625% notes due 2023, 3.625% notes due 2021, and 3.250% notes due 2022. The Offer to Purchase relates to ten separate Offers, one for each series of notes and in the separate pools indicated in the tables below (each series, a “Series of Notes,” and such notes, collectively, the “Notes”).
Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan, Inc. (KMI), EagleClaw Midstream Ventures, LLC (EagleClaw), a portfolio company of Blackstone Energy Partners, and Apache Corporation (NYSE, NASDAQ: APA) today announced that Exxon Mobil Corporation (XOM) has signed a letter of intent to support the proposed Permian Highway Pipeline Project (PHP Project). Under the letter of intent, ExxonMobil subsidiary XTO Energy may contract for up to 450,000 dekatherms per day (Dth/d) of capacity on the pipeline.
Investing.com - Energy stocks struggled in midday trading, with Apache (NYSE:APA) a notable loser after it announced it would put its West Texas pipeline assets into a joint venture.
Apache and Occidental Petroleum snagged premium prices for their midstream assets in the red-hot shale oil region.
Apache's (APA) deal to spin off its Permian pipeline holdings into a new publicly traded company is likely to close by the end of the year.
The new company, Altus Midstream Co., is formed through Apache Corp.'s Alpine High assets and investment from Kayne Anderson Acquisition Corp.
Apache Corp. is forming Permian Basin midstream energy business Altus Midstream Co. via a deal with blank-check company Kayne Anderson Acquisition Corp.
U.S. oil producer Apache Corp is putting its West Texas pipeline assets into a joint venture with investment firm Kayne Anderson that will operate in the largest U.S. shale field, the companies announced on Wednesday. Apache has invested heavily in its own Permian Basin pipeline and processing plants to support a major oil and gas discovery that it projects will require decades of drilling. The firm has been looking for partners to shoulder the costs of the buildout and has taken stakes in five other pipelines in the region to increase its attractiveness.
Anchored by Apache’s gathering, processing and transportation assets at Alpine High, Altus Midstream will be a publicly traded, pure-play, Permian Basin midstream C-corp. Kayne Anderson Acquisition Corp. is contributing $952 million in cash, which comprises $380 million in proceeds raised in its initial public offering and $572 million in proceeds raised in a private placement of Class A shares. The new company will have no debt at closing and cash on-hand will be used to fund ongoing midstream investments.
The Zacks Analyst Blog Highlights: BP, Apache, Concho Resources, Petrobras and Marathon Petroleum
On the news front, major energy players BP plc (BP), Apache Corporation (APA) and Concho Resources (CXO) reported strong second-quarter earnings.
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. APA credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.
Between August 6 and August 10, a variety of events could affect oil and natural gas prices. The IEA’s (International Energy Agency) Oil Market Report, which is scheduled to be released toward the end of this week, is expected to be an important driver for oil prices.