UBS Raises Price Target on Marathon Oil (MRO) Following PayRock Energy Purchase Agreement
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- Needham Starts NeoVolta (NEOV) at Buy
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
UPDATE: Morgan Stanley Upgrades Marathon Oil (MRO) to Overweight
June 21, 2016 6:35 AM EDT(Updated - June 21, 2016 9:59 AM EDT)
Morgan Stanley upgraded Marathon Oil (NYSE: MRO) from Equalweight to Overweight with a price target of $21. Morgan Stanley's bull case on the stock is $32, and its bear case of $9. Analyst Evan Calio said the company's STACK position... More
Notable Mergers and Acquisitions 6/20: (TWTR) (OTEX)/(HPQ) (CSAL) (MRO)
June 20, 2016 9:51 AM EDT*** Twitter (NYSE: TWTR) announced it has acquired Magic Pony Technology, a London-based developer of machine learning and visual processing technology, expanding the machine learning capabilities in Twitter's video technology and adding valuable talent to the company's Cortex team.
"Machine learning is increasingly at the core of everything we build at Twitter," said Jack Dorsey, Twitter CEO and co-founder. "Magic Pony's machine learning technology will help us build strength into our deep learning teams with world-class talent, so Twitter can continue to be the best place to see what's... More
Marathon Oil (MRO) to Acquire PayRock Energy Holdings in $880M Deal
June 20, 2016 6:15 AM EDTMarathon Oil Corporation (NYSE: MRO) announced the signing of a definitive purchase and sale agreement to acquire PayRock Energy Holdings, LLC (PayRock), a portfolio company of EnCap Investments, for $888 million. PayRock has approximately 61,000 net surface acres and current production of 9,000 net barrels of oil equivalent per day (boed) in the oil window of the Anadarko Basin STACK play in Oklahoma.
Highlights:
High quality inventory immediately competes for capital allocation within Marathon Oils portfolio$4.5 - 4.0 million completed well costs offer 60 - 80% before-tax IRRs at $50... More