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Risk-to-Price Commentary: Apache Corp. And Anadarko Petroleum Corp. Nov 10
Standard & Poors, Nov 2010
Abstract
In the third quarter, oil investor T. Boone Pickens increased his holdings in three U.S. exploration and production companies--Apache Corp., McMoRan Exploration Co., and Plains Exploration and Production Co.--while selling some of his stake in Anadarko Petroleum Corp., according to a Bloomberg report Monday. The news service cited an SEC filing by Pickens' BP Capital Management LP. Anadarko Petroleum had a stake in the BP PLC-operated well that exploded in April, sending waves of crude oil into the U.S. Gulf of Mexico. The company's earnings have taken a hit--third-quarter profit of $0.21 per share fell short of the Capital IQ consensus estimate by $0.12. Though the stock has recovered from a 52-week low of $34.83 reached on June 8, 2010,...
Companies mentioned in this report are: EQT Corp.,Noble Energy Inc.,Apache Corp.,Ocean Energy Inc.,Anadarko Petroleum Corp.,Pioneer Natural Resources Co.,QEP Resources Inc.,Apache Finance Canada Corp.,Whiting Petroleum Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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