Skip to main content

Market Overview

Topeka Stirs Pot With Oil Industry Merger Speculation

Share:

Joining an increasingly popular guessing game on potential take-out targets in the oil and gas industry, an analyst published some further speculation Monday.

Topeka's Gabriele Sorbara added to a growing list of "most likely" companies that might get acquired:

  • Cabot Oil & Gas Corporation (NYSE: COG)
  • Energen Corporation (NYSE: EGN)
  • Diamondback Energy Inc (NASDAQ: FANG)
  • Gulfport Energy Corporation (NASDAQ: GPOR)
  • Laredo Petroleum Inc (NYSE: LPI)
  • Magnum Hunter Resources Corp (NYSE: MHR)
  • Oasis Petroleum Inc. (NYSE: OAS)

"All of them would require significant premiums" from would-be acquirers above their current share price, according to Sobara, who rates each of the companies at Buy.

Talk has been very cheap lately about potential oil patch mergers, but Forbes reported recently that deals in 2015 so far have been lagging compared with last year.

Through late February there have been seven deals in the upstream sector, totaling $443 million, versus 34 deals worth $12 billion during the first two months of 2014.

"Plenty of discussions are taking place, yet buyers and sellers cannot find common ground on where commodity prices will end up," Forbes reported.

Latest Ratings for COG

DateFirmActionFromTo
Mar 2021Piper SandlerDowngradesOverweightNeutral
Mar 2021Morgan StanleyMaintainsEqual-Weight
Mar 2021Johnson RiceDowngradesBuyHold

View More Analyst Ratings for COG
View the Latest Analyst Ratings

 

Related Articles (COG + EGN)

View Comments and Join the Discussion!

Posted-In: Gabriele Sorbara TopekaAnalyst Color M&A News Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
DALJP MorganMaintains63.0
ALKJP MorganMaintains104.0
UALJP MorganMaintains58.0
SPGIBMO CapitalMaintains428.0
INFOBMO CapitalMaintains110.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com