KBR (KBR) Higher as Chevron Becomes Kingpin in Kitimat LNG Project
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Price: $203.90 +0.59%
Rating Summary:
27 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 26
Rating Summary:
27 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 12 | New: 26
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Shares of KBR, Inc. (NYSE: KBR) are higher Wednesday related to news Chevron Corporation (NYSE: CVX) will acquire a 50 percent operating interest in the Kitimat liquefied natural gas (LNG) project.
The Kitimat LNG project timeline had been delayed from 2011 due to a host of reason. Chevron's involvement will likely push it over the finish line given its status as a premium LNG developer and longstanding relationships with key Asian buyers.
Chevron increases the odds that a final investment decision will be completed over the next 12 months, analyst said.
Shares of KBR last traded at $30.05, up 1.4 percent.
The Kitimat LNG project timeline had been delayed from 2011 due to a host of reason. Chevron's involvement will likely push it over the finish line given its status as a premium LNG developer and longstanding relationships with key Asian buyers.
Chevron increases the odds that a final investment decision will be completed over the next 12 months, analyst said.
Shares of KBR last traded at $30.05, up 1.4 percent.
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