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OXY

Occidental Petroleum

$63.00

1 (1.61%)

10:30
04/25/19
04/25
10:30
04/25/19
10:30

Second day of bullish activity in Occidental Pete

Second day of bullish activity in Occidental Pete. The stock up 2.2% to $63.35 and 6.5K Jun 65 - 75 call spreads bought for $1.60. Both strikes trade more than 10K and the vertical targets a 19% move to $75 or better through the June expiration in 57 days. It comes after 77K calls opened in the name yesterday and ahead of earnings on 5/6.

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    May

OXY Occidental Petroleum
$63.00

1 (1.61%)

04/24/19
JPMS
04/24/19
NO CHANGE
Target $74
JPMS
Neutral
Occidental's raised offer for Anadarko 'not entirely surprising,' says JPMorgan
Occidental Petroleum (OXY) made a $76 per share offer this morning for Anadarko (APC), which is "not entirely surprising," JPMorgan analyst Phil Gresh tells investors in a research note, adding that the new tidbits were the magnitude of synergies that Occidental proposed, which was materially higher than Chevron's (CVX), and Occidental's corresponding asset sale plan of $10B-15B. Gresh believes the merits of this transaction hinge entirely on the execution of the large synergy number being proposed, but also says he would not be surprised if Chevron raised its $65 per share bid for Anadarko and correspondingly raised its synergy target. The analyst maintains a Neutral rating and $74 price target on Occidental Petroleum.
04/25/19
ATLE
04/25/19
DOWNGRADE
ATLE
Neutral
Occidental Petroleum downgraded to Neutral from Overweight at Atlantic Equities
04/25/19
MSCO
04/25/19
NO CHANGE
MSCO
Strategic value of Occidental bid less clear than Chevron's, says Morgan Stanley
Morgan Stanley analyst Devin McDermott estimated that Occidental's (OXY) cash and stock bid for Anadarko (APC) implies about $73 per share, net of the breakup fee and yesterday's move in the share price of Occidental, which is roughly a 16% premium to Chevron's (CVX) previously accepted offer. However, Occidental's proposal comes with higher risk as it relies on asset sales for funding, requires a vote by Occidental's shareholders and carries more integration risk, the analyst tells investors. He continues to believe that a deal with Chevron represents a better potential strategic combination, citing his view that Chevron would ultimately be able to extract more synergies from a transaction than Occidental. If Chevron hypothetically matched Occidental's terms, the deal accretion would still be strong and leverage would stay low, said McDermott, who noted that he has no knowledge of any intention by Chevron to increase its bid.
04/25/19
JEFF
04/25/19
DOWNGRADE
Target $79
JEFF
Hold
Jefferies downgrades Anadarko to Hold, sees limited upside from here
Jefferies analyst Mark Lear downgraded Anadarko Petroleum (APC) to Hold from Buy with an unchanged price target of $78. Occidental Petroleum (OXY) yesterday confirmed weeks of speculation that a superior bid for Anadarko had been disregarded in favor of Chevron's (CVX) $65 per share offer, Lear tells investors in a research note. The analyst says that while he awaits Anadarko's response to the hostile bid, he believes Occidental's offer better recognizes the value of the company's underlying assets. Lear thinks it is possible that Chevron could come back with a slightly higher bid. However, he sees limited upside potential to Anadarko shares at this point.

TODAY'S FREE FLY STORIES

STIM

Neuronetics

$11.41

-0.11 (-0.95%)

05:21
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LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

, LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

05:17
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LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

LGF

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VRAY

ViewRay

$8.96

0.215 (2.46%)

05:14
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DLAKY

Lufthansa

$0.00

(0.00%)

05:12
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EVRZF

Evraz

$0.00

(0.00%)

05:11
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05:11
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EVRZF

Evraz

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(0.00%)

05:10
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USM

U.S. Cellular

$44.15

0.375 (0.86%)

05:09
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05:09
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TDS

Telephone and Data

$29.21

-0.11 (-0.38%)

05:08
06/18/19
06/18
05:08
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05:08
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ESS

Essex Property Trust

$302.21

3.03 (1.01%)

05:07
06/18/19
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05:07
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CFPZF

Canfor

$0.00

(0.00%)

05:06
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05:06
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05:06
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WFTBF

West Fraser Timber

$0.00

(0.00%)

05:05
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05:05
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05:05
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RFP

Resolute Forest

$6.12

0.015 (0.25%)

05:05
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06/18
05:05
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DLAKY

Lufthansa

$0.00

(0.00%)

05:03
06/18/19
06/18
05:03
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05:03
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ACCYY

Accor

$0.00

(0.00%)

05:02
06/18/19
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05:02
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SNY

Sanofi

$42.65

0.19 (0.45%)

05:01
06/18/19
06/18
05:01
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05:01
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  • 26

    Jun

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    Sep

AXELF

Axel Springer

$0.00

(0.00%)

04:59
06/18/19
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04:59
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04:59
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OTSKY

Otsuka

$0.00

(0.00%)

04:58
06/18/19
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LEN

Lennar

$53.01

-0.54 (-1.01%)

04:56
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  • 25

    Jun

KBH

KB Home

$26.21

-0.24 (-0.91%)

04:56
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  • 26

    Jun

VZ

Verizon

$57.63

-0.65 (-1.12%)

04:55
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  • 18

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    Aug

CVS

CVS Health

$54.52

0.34 (0.63%)

04:55
06/18/19
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04:55
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04:55
Conference/Events
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  • 18

    Jun

  • 18

    Jun

ARWR

Arrowhead

$26.43

0.62 (2.40%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
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  • 18

    Jun

HRB

H&R Block

$28.34

-0.35 (-1.22%)

04:55
06/18/19
06/18
04:55
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04:55
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H&R Block management to meet with Northcoast »

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  • 18

    Jun

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    Jul

GIII

G-III Apparel

$25.67

-0.03 (-0.12%)

04:55
06/18/19
06/18
04:55
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04:55
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G-III Apparel management to meet with KeyBanc »

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  • 18

    Jun

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    Jul

DEI

Douglas Emmett

$41.86

0.595 (1.44%)

04:55
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04:55
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Conference/Events
Douglas Emmett management to meet with KeyBanc »

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  • 18

    Jun

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