MrBankRoll
16 años hace
XTO Energy (XTO) Increases Quarterly Cash Dividend
XTO Energy Inc. (NYSE: XTO) has increased its quarterly cash dividend to 12.5 cents per share, up from 12 cents per share. The dividend is payable on April 15, 2009 to stockholders of record at the close of business on March 31, 2009.
"XTO Energy continues to perform as a financially strong company and an attractive investment. Even within these challenging times, we expect to increase cash flow in 2009 and achieve record performance," stated Bob R. Simpson, Chairman and Founder. "
MrBankRoll
16 años hace
XTO in Exxon's sights?
Exxon: Waiting for the tiger to pounce
The company is sitting on a pile of cash, and some think it may soon buy another major oil firm.
Last Updated: January 5, 2009: 11:45 AM ET
NEW YORK (CNNMoney.com) -- Exxon Mobil is sitting on a massive pile of money.
Thanks to record oil prices over the last few years and a cautious investment strategy that drew fire from critics, the company has nearly $40 billion in cash reserves. It has another $225 billion in repurchased stock tucked away for a rainy day.
That's enough money to pay a nearly 60% premium, in cash, for every share of its next largest competitor - Royal Dutch Shell (RDSA).
Some analysts think it may do something just like that.
"It's not if, it's when and which [company]," said Fadel Gheit, a senior energy analyst at the investment bank Oppenheimer.
Gheit is in the minority of oil analysts, but he's still convinced Exxon's target will be one of the big oil firms.
"When Exxon came calling last time, they didn't dial the little guys," he said, referring to the 1999 takeover of Mobil, then the country's second-largest oil company. "It has to be a big one in order to move the needle."
Exxon management: Tough as nails
Shrewd management has put Exxon (XOM, Fortune 500) in this position to buy.
Over the last five years oil companies worldwide have scrambled to develop new projects to take advantage of oil's rising price - often paying exorbitant sums for leases, drilling rigs and other assets needed to bring crude to market.
But not Exxon. Although criticized for not doing enough to pump more crude, the company has maintained the price spike was temporary, and that it wouldn't overpay for projects.
The position has paid off. With crude prices crashing, many oil firms are now deep in debt and stuck with expensive projects.
Share prices of the majors have fallen in line with the broader stock market.
Shell is down 35% in the last 6 months. Chevron (CVX, Fortune 500) and BP (BP) are off about 30%.
Shares in many other oil firms that rushed to expand over the last few years are down even more.
But Exxon has lost just 10%.
"It's hard to question their management style and expertise," said Ken Carol, an oil company analyst at the investment bank Johnson Rice & Co. "They've been proven absolutely correct."
For Exxon, taking over another big firm would give it much-needed oil reserves in a time when the multinational oil companies find themselves increasingly locked out of the best new oil plays by national firms like Russian's Gazprom, Saudi Arabia's Aramco or Venezuela's PDVSA.
It would also give it more financial muscle when negotiating with these governments.
Is Shell in Exxon's sights?
A deal with Shell might be particularly sweet for Exxon's ego.
The two firms have been archrivals since the early days of the oil barons, with the Anglo-Dutch Shell and John D. Rockefeller's Standard Oil, which spawned Exxon, going head to head in markets around the globe.
Competition and price wars were fierce, and several times during the late 1800s and early 1900s men in gray suits crossed the Atlantic looking to strike a deal between the world's two giant firms - to no avail.
But Carol, like most other oil analysts, doesn't think Exxon will go for one of the big players.
"Never say never, but that's not their history," he said. "They tend to be very conservative."
A more cautious approach would be to buy one of the smaller independent companies.
Gheit said if Exxon doesn't go for a major company, firms with lots of debt could make good targets.
Those include XTO (XTO, Fortune 500), Chesapeake (CHK, Fortune 500), Anadarko (APC, Fortune 500) and Pioneer (PXD), according to their balance sheets.
A smaller firm would give Exxon more of a specialty in a particular area - like oil production in the case of Anadarko or natural gas in the case of XTO - rather than mimic the capabilities, and liabilities, they already have as an integrated firm.
"Ultimately, Exxon will do something with this money," said Blake Fernandez, an integrated oil analyst at the New Orleans-based investment bank Howard Weil. "But why would they buy someone with the same growth problems they've got?"
An even safer option would be to buy leases from distressed companies looking to raise cash, or to develop leases it already has. The company may also find some bargains overseas, as declining oil prices may spur foreign governments to make more leases available.
Exxon itself has certainly left the door wide open to doing any or all of the above.
"We're watching the valuations of a broad range of companies, just as we've done all the time," Exxon boss Rex Tillerson told reporters at a recent industry gathering. "Just have to wait and see."
Vulcanized Crawler
16 años hace
NEW YORK (Reuters) - Oil and gas producer XTO Energy Inc (XTO.N: Quote, Profile, Research, Stock Buzz) on Tuesday said earnings rose 33 percent on higher production and natural gas prices, and announced deals for more than $2 billion on new properties.
Those purchases include an $800 million buy in Texas' Barnett Shale. The company, which agreed last month to buy privately held Hunt Petroleum Corp for around $4.2 billion, has made more than $10 billion in acquisitions this year.
XTO boosted its 2008 and 2009 output forecasts due in part to recent acquisitions and lifted its capital budget for the year.
Net income in the quarter rose to $575 million, or $1.11 a share, from $432 million, or 91 cents a share, last year.
Excluding one-time items, the company said it earned $1.07 a share in the quarter. Analysts on average had expected the company to earn $1.04 a share, according to Reuters Estimates.
Natural gas and oil production in the quarter rose 29 percent from last year to 2.20 billion cubic feet equivalent per day. Its average realized price for natural gas rose 7 percent to $8.51 per thousand cubic feet.
XTO said it expects production growth of at least 29 percent in 2008 as well as 22 percent growth in 2009.
Given the company's production growth and acquisition pace, Chief Executive Bob Simpson said XTO could double in size over a four-year period.
XTO said on Tuesday it would buy 12,900 acres adjacent to its current operations in the Barnett Shale for $800 million, adding output of 35 million cubic feet of natural gas equivalent per day. Continued...
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Vulcanized Crawler
17 años hace
XTO ON BUYING SURGE....
GONA BE VERY VERY BIG IN GAS N OIL
NEW YORK (MarketWatch) -- XTO Energy Inc. (XTO:XTO
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XTO, , ) on Tuesday said it'll buy closely held Hunt Petroleum Corp. for $4.19 billion in cash and stock, as the Fort Worth, Texas, natural gas and oil producer moved to boost its reserves and production. XTO Energy said Hunt Petroleum's proved reserves total about 1.052 trillion cubic feet of natural gas equivalent in East Texas, Louisiana and in the Gulf of Mexico. About 62% of the reserves are proved and developed. Daily production of 197 million cubic feet, 8,500 barrels of oil and 2,300 barrels of natural gas liquids will be added to XTO's production base upon closing of the transaction. "Simply put, the majority of these properties equate to a super-charged bolt-on for XTO," the company said.
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Comments: 1
Hunt's a genius. Anticipating the coming of the next major nuclear energy agethat will make the USA energy independent by 2017 Hunt is divesting himself of as much of oil - the boutique fuel of the future, as possible. I'm impressed. I am not joki...
- ROMO3
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SentHunt's a genius. Anticipating the coming of the next major nuclear energy agethat will make the USA energy independent by 2017 Hunt is divesting himself of as much of oil - the boutique fuel of the future, as possible. I'm impressed. I am not joking either and I really know what I am talking about - keep your eyes open...
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Vulcanized Crawler
17 años hace
THIS IS THE XTO BOARD
there are lots of other plays, but, xto is the one here as this is it's home. anything to do with energy, and especially gas, will have it's day soon. even boone pickents, mister oil, is saying gas is right around the corner.
i just put a large position into xto after extensive research. wish i was faster, as i could have gotten it a few day earlier at 60 or below, but, have to remember not to worry, greed is good, and there is enough to go around
MrBankRoll
17 años hace
I guess some people don't like record production and earnings........
April 23, 2008 - 8:31 AM EDT
XTO Energy Announces 1Q Earnings and Record Production
FORT WORTH, Texas, April 23 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE: XTO) today reported record first quarter 2008 production of 2.11 billion cubic feet equivalent (Bcfe) per day, up 32% from the first quarter 2007 level of 1.60 Bcfe per day. Total revenues for the first quarter were $1.67 billion, a 43% increase from $1.17 billion the prior year. Earnings for the quarter were $465 million, or $0.94 per share ($0.92 diluted), compared with first quarter 2007 earnings of $383 million, or $0.83 per share ($0.82 diluted). First quarter 2008 earnings include the effects of a non-cash derivative fair value gain. Excluding this non-cash change, the Company's adjusted earnings were $456 million, or $0.92 per share ($0.91 diluted), compared to first quarter 2007 adjusted earnings of $406 million, or $0.89 per share ($0.87 diluted).(1)
frenchee
17 años hace
Play #1: Undervalued Natural Gas Stocks
To play natural gas, I favor producers and drillers in the U.S. One example would be XTO Energy (XTO). It is a natural gas producer with properties in Texas, Oklahoma, Kansas, New Mexico, Colorado, Arkansas, Wyoming, Louisiana and Alaska.
The company has proved reserves of 6.9 trillion cubic feet of natural gas, 214.4 million barrels of oil, and 53 million barrels of natural gas liquids.
And I consider it cheap. It trades at around 15 times trailing earnings, a discount to the peer group average of 22.5.
Source: Sean Brodrick, 13 Feb 08