UBS Raises Price Target on Marathon Oil (MRO) Following PayRock Energy Purchase Agreement
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Go back to UBS Raises Price Target on Marathon Oil (MRO) Following PayRock Energy Purchase Agreement
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
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
June 20, 2016 6:15 AM EDT
Marathon 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...
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