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Fly News Breaks for August 19, 2019
CVX, XOM
Aug 19, 2019 | 07:40 EDT
Barclays analyst Jeanine Wai initiated Chevron (CVX) with an Overweight rating and $145 price target, citing her view that the company is well positioned to fund its 3-4% five-year growth CAGR guidance while also returning significant free cash flow to shareholders. The stock's discount to Exxon (XOM) shares should invert over the next year as the market becomes comfortable with the sustainability of Chevron's cash return program, contends Wai.
News For CVX;XOM From the Last 2 Days
CVX, XOM
Sep 16, 2019 | 12:08 EDT
Stocks are lower and oil prices have jumped following a drone attack on Saudi oil facilities on Saturday that knocked out more than 5% of global oil supply and halted output of more than half of Saudi Arabia's daily exports. President Trump has... To see the rest of the story go to thefly.com. See Story Here
CVX, XOM
Sep 16, 2019 | 10:40 EDT
Following an attack on Saudi oil facilities over the weekend, KeyBanc analyst Leo Mariani upgraded Whiting Petroleum (WLL), SM Energy (SM), Jagged Peak Energy (JAG) and Centennial Resource (CDEV) to Overweight given the companies' exposure to higher oil prices. Meanwhile, Suntrust also... To see the rest of the story go to thefly.com. See Story Here
CVX, XOM
Sep 16, 2019 | 09:11 EDT
HIGHER: Exxon Mobil (XOM) and Chevron (CVX), both up 3% after a jump in oil prices following drone strikes on an oil facility in Saudi Arabia that has many stocks in the energy sector up as well... Alder Biopharmaceuticals (ALDR), up 83% after entering a definitive agreement for Lundbeck to acquire the company. Under the terms of the agreement, Lundbeck offered an upfront payment for $18.00 per share in cash, along with one non-tradeable contingent value right, or CVR, that entitles shareholders to an additional $2.00 per share upon approval of eptinezumab by the EMA, representing a total potential consideration of $20.00 per share... SemGroup (SEMG), up 60% after agreeing to be acquired by Energy Transfer LP (ET) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5B... Centennial Resource Development (CDEV), up 16% amid general strength in energy stocks after SunTrust analyst Neal Dingmann upgraded the stock to Buy and raised his price target to $8 from $5. LOWER: New Relic (NEWR), down 14% after cutting its FY20 revenue outlook and announcing the resignations of its CTO and CRO... General Motors (GM), down 2.5% after reports of the United Auto Workers union's plans to strike against the company after the two sides did not reach a tentative deal before this weekend's deadline... Mallinckrodt (MNK), down 2% after its Purdue Pharma announced that it has reached an agreement in principle on a framework for settling the U.S. opioid litigation that included reorganization under Chapter 11 of the U.S. Bankruptcy Code. Mallinckrodt is facing similar opioid litigation.