Tudor Pickering Opines on "Who Next" and "Who Not" After BHP/HK Deal
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Price: $67.53 -1.19%
Rating Summary:
8 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
8 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade BHP Now!
Tudor Pickering commented on "who's next" after BHP Billiton (NYSE: BHP) announced a deal Thursday evening to acquire Petrohawk Energy Corp. (NYSE: HK) for $12.1 billion in cash, or $38.75 per share. The deal came at at 65% premium to Thursday's close of $23.49.
The firm's best takeout candidates:
Commenting on who isn't a takeover target because of size, the firm said Chesapeake Energy (NYSE: CHK) and EOG Resources, Inc. (NYSE: EOG) have assets that fit the bill but they may be too large. Anadarko Petroleum (NYSE: APC) and Bunge Limited (NYSE: BG) are on-agai/off-again rumored BHP target, which now look off-again. Quicksilver Resources Inc. (NYSE: KWK) and EXCO Resources Inc. (NYSE: XCO) just ended failed take-private transactions. Continental Resources Inc. (NYSE: CLR), SM Energy Company (NYSE: SM) and Cimarex Energy Co. (NYSE: XEC) don't seem to want to or may not be incentivized to sell.
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The firm's best takeout candidates:
- Brigham Exploration Co. (Nasdaq: BEXP)
- Oasis Petroleum Inc. (NYSE: OAS)
- Cabot Oil & Gas Corporation (NYSE: COG)
- Carrizo Oil & Gas Inc. (Nasdaq: CRZO)
- Range Resources Corporation (NYSE: RRC)
- Southwestern Energy Co. (NYSE: SWN)
- Ultra Petroleum Corp. (NYSE: UPL)
Commenting on who isn't a takeover target because of size, the firm said Chesapeake Energy (NYSE: CHK) and EOG Resources, Inc. (NYSE: EOG) have assets that fit the bill but they may be too large. Anadarko Petroleum (NYSE: APC) and Bunge Limited (NYSE: BG) are on-agai/off-again rumored BHP target, which now look off-again. Quicksilver Resources Inc. (NYSE: KWK) and EXCO Resources Inc. (NYSE: XCO) just ended failed take-private transactions. Continental Resources Inc. (NYSE: CLR), SM Energy Company (NYSE: SM) and Cimarex Energy Co. (NYSE: XEC) don't seem to want to or may not be incentivized to sell.
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