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LNG

Cheniere Energy

$63.24

0.23 (0.37%)

, APA

Apache

$26.06

-0.12 (-0.46%)

08:24
06/03/19
06/03
08:24
06/03/19
08:24

Cheniere Corpus Christi Stage III, Apache sign long-term gas supply agreement

Cheniere Energy (LNG) announced that its subsidiary, Cheniere Corpus Christi Liquefaction Stage III, has entered into a long-term gas supply agreement with Apache Corporation (APA). Under the GSA, Apache has agreed to sell 140,000 MMBtu per day of natural gas to Corpus Christi Stage III for a term of approximately 15 years. The LNG associated with this gas supply, approximately 0.85 million tonnes per annum, will be marketed by Cheniere. Apache will receive an LNG price, net of a fixed liquefaction fee and certain costs incurred by Cheniere, for the natural gas delivered to Corpus Christi Stage III under this agreement. The LNG price is based on international LNG indices. The Corpus Christi Stage III project is being developed to include up to seven midscale liquefaction trains with a total expected nominal production capacity of approximately 9.5 mtpa. Corpus Christi Stage III received a positive Environmental Assessment from the Federal Energy Regulatory Commission in March 2019 and is expected to receive all remaining necessary regulatory approvals for the project by the end of 2019.

LNG

Cheniere Energy

$63.24

0.23 (0.37%)

APA

Apache

$26.06

-0.12 (-0.46%)

  • 13

    Nov

LNG Cheniere Energy
$63.24

0.23 (0.37%)

03/28/19
GSCO
03/28/19
UPGRADE
Target $87
GSCO
Conviction Buy
Cheniere Energy upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Michael Lapides added Cheniere Energy to his firm's Americas Conviction List and reiterates a Buy rating on the shares. He raised his price target for the shares to $87 from $84. The analyst views Cheniere as the best way for investors to gain exposure to the growing U.S. liquefied natural gas industry. He sees "several" near-term catalysts and expects the company to generate "material" free cash flow from liquefaction projects coming online.
03/28/19
03/28/19
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. SeaWorld (SEAS) upgraded to Buy from Neutral at B. Riley FBR with Eric Wold saying as a leading operator of differentiated theme parks as well as driving animal preservation and education, SeaWorld is well positioned to benefit from increased global consumer brand awareness and improving economies of scale. 2. Trex Company (TREX) upgraded to Buy from Hold at Stifel with analyst John Baugh saying the stock is trading at an attractive level with a risk/reward "very favorable" below $60. 3. Five Below (FIVE) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Christopher Prykull saying the stock is trading at a discount to Five Below's "growing" intrinsic value as building brand awareness, "robust" new store performance, and tailwinds from initiatives such as remodels should sustain double-digit top- and bottom-line growth. 4. People's Utah Bancorp (PUB) upgraded to Buy from Hold at Sandler O'Neill with analyst Andrew Liesch saying the bank has consistently posted strong operating results since its IPO in 2015 but that the stock has declined 15% year-to-date and underperformed the Nasdaq Bank Index. 5. Cheniere Energy (LNG) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Michael Lapides saying he views Cheniere as the best way for investors to gain exposure to the growing U.S. liquefied natural gas industry. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
GABE
05/13/19
INITIATION
GABE
Buy
Cheniere Energy initiated with a Buy at Gabelli
Gabelli analyst Matthew Trusz initiated coverage of the liquefied natural gas, or LNG, market, starting Cheniere Energy with a Buy rating. Demand will significantly exceed current supply by 2025, led by Chinese growth, said Trusz. Cheniere Energy is the only public pure-play LNG developer with operating liquefaction facilities and has strong earnings leverage on future capacity expansion, said Trusz, who sees the stock as undervalued.
05/13/19
GABE
05/13/19
INITIATION
GABE
Sell
Cheniere Energy Partners initiated with a Sell at Gabelli
Gabelli analyst Matthew Trusz initiated coverage of the liquefied natural gas, or LNG, market, stating that demand will significantly exceed current supply by 2025, led by Chinese growth. Cheniere Energy (LNG), the only public pure-play LNG developer with operating liquefaction facilities, is undervalued, but Cheniere Energy Partners (CQP) is overvalued, said Trusz, who started the former at Buy and the latter at Sell. The partnership has limited opportunity for expansion and incremental EBITDA will "flow disproportionately to its general partner," Trusz tells investors in his initiation note.
APA Apache
$26.06

-0.12 (-0.46%)

12/10/18
GHSC
12/10/18
UPGRADE
GHSC
Buy
Apache upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Mike Kelly upgraded Apache to Neutral and lowered its price target to $34 from $39 saying shares are more attractive following relative underperformance.
01/16/19
LEHM
01/16/19
INITIATION
Target $29
LEHM
Underweight
Apache initiated with an Underweight at Barclays
Barclays analyst Jeanine Wai started Apache with an Underweight rating and $29 price target. The analyst sees "below average" fundamentals metrics with limited upside to net asset value.
03/06/19
MUFG
03/06/19
NO CHANGE
Target $47
MUFG
Overweight
Apache 2018 results, capital program 'significant positives', says MUFG
MUFG analyst Michael McAllister kept his Overweight rating and $47 price target on Apache, saying its 2018 results and commitment to return 50% of its free cash flow to shareholders should be considered "significant positives" to the investment narrative. The analyst adds that the company's 2019 capital outflows of $2.8B are "amply covered" by his cash flow forecast of $3.78B. With 40M share repurchase program "recast by the board", McAllister sees buybacks as the "first home" for Apache's free cash flows and believes that its capital program is "set up appropriately for the current price regime".
04/05/19
BMOC
04/05/19
NO CHANGE
Target $36
BMOC
Market Perform
Apache price target raised to $36 from $30 at BMO Capital
BMO Capital analyst Phillip Jungwirth raised his price target on Apache to $36 after traveling with its management this week, saying investor sentiment appears to have improved amid "Permian oil outperformance, Suriname opportunity, North Sea growth, and messaging around improving Alpine High margins." The analyst notes that the adjustment made to his model have taken his FY19 EPS outlook to $8.72 from $8.52 and his FY20 outlook to $9.02 from $8.80, even though he is keeping his Market Perform rating to reflect the company's "lower relative debt adjusted production growth."

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