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Stockreport

Chevron-Hess M&A is a long-short equity strategy opportunity - Steamboat Capital Partners 1Q letter [Seeking Alpha]

Chevron Corporation (CVX)  More Company Research Source: Seeking Alpha
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
In his First Quarter Investor Letter, Kiai said that traditional long-short equity had “considerable challenges and saw significant fund outflows over the past several years” but those have been alleviated with positive fund inflows into the category earlier this year. The Chevron Corp. ( CVX ) acquisition purchase price for Hess ( HES ) in an all-stock transaction was deemed as disappointing due to the very small premium for its ownership stake for the oil discovery off the coast of Guyana (an estimated $11B barrels of oil). Now, two developments have caused the gross spread to increase to more than 6%: Venezuela claims that the oil discovery belongs to it, and Exxon Mobil's ( NYSE: XOM ) attempt to block the transaction by asserting right-of-first-refusal to purchasing Hess' stake. The Steamboat Capital Partners team believes Exxon ( XOM ) is wrong, that the deal will only be “slightly delayed” past the second quarter closing estimate, and that it offers “an attractive, uncor [Read more]
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Stockreport

Chevron-Hess M&A is a long-short equity strategy opportunity - Steamboat Capital Partners 1Q letter [Seeking Alpha]

Chevron Corporation  (CVX) 
More Company Research Source: Seeking Alpha
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
In his First Quarter Investor Letter, Kiai said that traditional long-short equity had “considerable challenges and saw significant fund outflows over the past several years” but those have been alleviated with positive fund inflows into the category earlier this year. The Chevron Corp. ( CVX ) acquisition purchase price for Hess ( HES ) in an all-stock transaction was deemed as disappointing due to the very small premium for its ownership stake for the oil discovery off the coast of Guyana (an estimated $11B barrels of oil). Now, two developments have caused the gross spread to increase to more than 6%: Venezuela claims that the oil discovery belongs to it, and Exxon Mobil's ( NYSE: XOM ) attempt to block the transaction by asserting right-of-first-refusal to purchasing Hess' stake. The Steamboat Capital Partners team believes Exxon ( XOM ) is wrong, that the deal will only be “slightly delayed” past the second quarter closing estimate, and that it offers “an attractive, uncor [Read more]
IMPACT SNAPSHOT
EVENT TIME:
CVX
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS