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CVX

Chevron

$122.00

0.13 (0.11%)

, APC

Anadarko

$64.12

-0.06 (-0.09%)

06:10
04/24/19
04/24
06:10
04/24/19
06:10

Anadarko sweetened deal payout just before $33B Chevron merger, WSJ says

A day prior to announcing its sale for $33B to Chevron (CVX), Anadarko Petroleum (APC) sweetened the payout its top executives could receive in the event of a deal by millions of dollars, the Wall Street Journal's Bradley Olson reports, citing data tracker Equilar. Anadarko CEO Al Walker is on track to reap a minimum of roughly $43M following the acquisition, about $6.7M more than under previous executive-pay guidelines, and collectively top executives are set to receive a maximum of $125M, up to $22M more than before the payout changes. Reference Link

CVX

Chevron

$122.00

0.13 (0.11%)

APC

Anadarko

$64.12

-0.06 (-0.09%)

  • 26

    Apr

  • 30

    Apr

  • 14

    May

CVX Chevron
$122.00

0.13 (0.11%)

04/15/19
MKMP
04/15/19
DOWNGRADE
Target $65
MKMP
Neutral
Anadarko downgraded to Neutral from Buy at MKM Partners
MKM Partners analyst John Gerdes downgraded Anadarko (APC) to Neutral from Buy and lowered his price target to $65 from $66 after its acquisition by Chevron (CVX). The analyst says the deal looks like a "near certainty" and also views its valuation at 6.1-times expected FY19 EBITDA as "full and fair". Gerdes adds that the business combination is "eminently logical", combining "asset/organization capabilities in the Delaware Basin, deep water Gulf of Mexico, and as to global LNG."
04/15/19
SBSH
04/15/19
NO CHANGE
Target $142
SBSH
Buy
Chevron price target raised to $142 from $135 at Citi
Citi analyst Alastair Syme raised his price target for Chevron (CVX) to $142 from $135 to reflect the company's acquisition of Anadarko Petroleum (APC). The analyst sees the acquisition as an "opportunistic deal" to acquire a "discounted resource that acts to lower the cost-curve position of the new entity." He keeps a Buy rating on Chevron shares.
04/15/19
MSCO
04/15/19
NO CHANGE
MSCO
Overweight
Chevron shares should be bought on Anadarko deal weakness, says Morgan Stanley
Morgan Stanley analyst Devin McDermott said he believes that Chevron's (CVX) agreement to acquire Anadarko (APC) is a "win-win for shareholders of both companies" given what he views as "clear strategic benefits and attractive accretion." Chevron was able to acquire the company "that offers the best strategic fit at what could prove to be the best relative valuation" ahead of what could be the start of a broader round of consolidation, contends McDermott, who recommends being a buyer of Chevron shares on the weakness seen after the deal was announced. In terms of who may be next, McDermott said he thinks Pioneer Natural (PXD), Concho Resources (CXO) and Parsley Energy (PE) could be potential targets for other oil majors.
04/22/19
PIPR
04/22/19
DOWNGRADE
Target $65
PIPR
Neutral
Anadarko downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Ryan Todd downgraded Anadarko Petroleum(APC) to Neutral from Overweight while raising his price target for the shares to $65 from $57 after the company reached an agreement to be bought by Chevron (CVX).
APC Anadarko
$64.12

-0.06 (-0.09%)

04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
Anadarko downgraded to Neutral from Positive at Susquehanna
04/17/19
SUSQ
04/17/19
DOWNGRADE
SUSQ
Neutral
Anadarko downgraded to Neutral after Chevron deal at Susquehanna
As previously reported, Susquehanna analyst Biju Perincheril downgraded Anadarko (APC) to Neutral, stating that he sees stronger risk/reward in other E&P names following the announcement of a deal to be acquired by Chevron (CVX). He raised his target on Anadarko shares to $65 from $62.
04/22/19
MZHO
04/22/19
DOWNGRADE
Target $70
MZHO
Neutral
Occidental Petroleum downgraded to Neutral from Buy at Mizuho
Mizuho analyst Paul Sankey downgraded Occidental Petroleum (OPC) to Neutral from Buy and lowered his price target for the shares to $70 from $83. The analyst says reports of Occidental bidding for Anadark (APC) are "well outside" his "prior understanding of company strategy." A bid for Anadarko would imply either a total change in strategy or a need for free cash flow that would be provided by Anadarko on the part of Occidental, Sankey tells investors in a research note. The latter would imply Occidental's future "dividend growth or even dividend cover is not as strong as we had assumed," he adds.

TODAY'S FREE FLY STORIES

MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

, LLL

L3 Technologies

$256.30

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MarketAxess to replace L3 Technologies in S&P 500 at open on 7/1 »

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MKTX

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LLL

L3 Technologies

$256.30

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HRS

Harris

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VGZ

Vista Gold

$0.81

-0.0026 (-0.32%)

17:04
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Vista Gold CFO Jack Engele to retire, Douglas Tobler to succeed »

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AAPL

Apple

$198.60

-0.17 (-0.09%)

17:03
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Periodicals
Apple to announce Seattle expansion on Monday, Seattle Times reports »

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HPE

HP Enterprise

$15.00

0.07 (0.47%)

, CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

17:01
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HP Enterprise appoints Crowdstrike CEO George Kurtz to Board of Directors »

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HPE

HP Enterprise

$15.00

0.07 (0.47%)

CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

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  • 25

    Jun

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    Jun

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  • 09

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NGM

NGM Biopharmaceuticals

$13.88

0.1 (0.73%)

17:01
06/24/19
06/24
17:01
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17:01
Initiation
NGM Biopharmaceuticals initiated  »

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VNDA

Vanda Pharmaceuticals

$13.81

-0.27 (-1.92%)

17:00
06/24/19
06/24
17:00
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17:00
Hot Stocks
Armistice Capital reports 6.2% passive stake in Vanda Pharmaceuticals »

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  • 16

    Aug

CBAY

CymaBay

$6.76

-0.32 (-4.52%)

16:58
06/24/19
06/24
16:58
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16:58
Initiation
CymaBay initiated  »

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PK

Park Hotels & Resorts

$27.47

-0.73 (-2.59%)

16:58
06/24/19
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16:58
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Hot Stocks
Park Hotels & Resorts announces sale of three non-core assets for $166M »

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ICPT

Intercept

$79.64

-1.74 (-2.14%)

16:56
06/24/19
06/24
16:56
06/24/19
16:56
Initiation
Intercept initiated  »

Intercept initiated with…

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KRYS

Krystal Biotech

$41.15

11.87 (40.54%)

16:48
06/24/19
06/24
16:48
06/24/19
16:48
Syndicate
Krystal Biotech files to sell $100M of common stock »

Goldman Sachs & Co.…

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  • 24

    Jun

GNFT

Genfit

$20.19

-0.02 (-0.10%)

16:40
06/24/19
06/24
16:40
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16:40
Hot Stocks
Breaking Hot Stocks news story on Genfit »

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16:40
06/24/19
06/24
16:40
06/24/19
16:40
General news
Fed's Kaplan wants to take more of a wait-and-see approach to policy »

Fed's Kaplan wants…

CHWY

Chewy

$31.52

-0.64 (-1.99%)

16:38
06/24/19
06/24
16:38
06/24/19
16:38
Hot Stocks
Lone Pine Capital reports 6.1% passive stake in Chewy »

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ARQL

ArQule

$10.00

-0.48 (-4.58%)

16:38
06/24/19
06/24
16:38
06/24/19
16:38
Syndicate
ArQule files to sell common stock, no amount given »

SVB Leerink and RBC…

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CLXT

Calyxt

$12.55

-0.43 (-3.31%)

16:35
06/24/19
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Calyxt enters commercial crushing agreement with Landus Cooperative »

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  • 25

    Jun

CNAT

Conatus

$0.94

0.0019 (0.20%)

16:35
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Hot Stocks
Breaking Hot Stocks news story on Conatus 

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  • 27

    Jun

GNFT

Genfit

$20.19

-0.02 (-0.10%)

16:34
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Terns announces licensing, collaboration agreement with Genfit »

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EHC

Encompass Health

$61.64

-0.305 (-0.49%)

16:34
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Encompass Health makes investment in Medalogix »

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CHS

Chico's

$3.33

-0.065 (-1.92%)

16:32
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Chico's FAS board approves amendment to company bylaws over share acquisition »

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TBNK

Territorial Bancorp

$27.87

-0.12 (-0.43%)

16:31
06/24/19
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Hot Stocks
Territorial Bancorp declares special mid-year cash dividend of 10c per share »

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ARQL

ArQule

$10.00

-0.48 (-4.58%)

16:31
06/24/19
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16:31
Syndicate
Breaking Syndicate news story on ArQule »

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COST

Costco

$266.83

0.58 (0.22%)

16:30
06/24/19
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Hot Stocks
Costco VP Roland Michael Vachris sells almost $1M in company shares »

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  • 10

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  • 03

    Oct

16:30
06/24/19
06/24
16:30
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16:30
Options
Preliminary option volume of 15.3M today »

Preliminary option volume…

EB

Eventbrite

$16.07

-0.23 (-1.41%)

16:28
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Foxhaven Asset Management reports 5.8% passive stake in Eventbrite »

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FRTA

Forterra

$4.56

-0.04 (-0.87%)

16:27
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Forterra sees FY19 results 'in line with its prior guidance' »

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