Comments for PXP - Stockpickr! Your Source for Stock Ideas

Comments for PXP

Added By	Comments	Type	Date Added
Laurence Mailaender	Huge reserves, cheap stock.	Love	February 09, 2009
confid8	good drilling prospects	Love	January 19, 2009
docon	local	Love	July 06, 2008
barrons2	Buy -- Price 62.53 on April 14 by Coker & Palmer California environmental groups ... signed an agreement with PXP allowing for development of offshore Tranquillon Ridge... . While other approvals remain, [this] is significant ... by 2022, PXP could produce 119 [million barrels of fuel-oil equivalent], about $20 a share... . We're increasing "08 target to 80 from 70, based on "08 enterprise value[earnings before interest, taxes, depreciation, amortization] of 8.2 times. Market cap: $7 billion.	Love	April 19, 2008
sarah z	Plains Exploration announced recently that its board approved a $1 billion share repurchase. The plan replaces an existing buyback with $158 million remaining. The oil and gas producer also recently announced that it agreed to sell $1.75 billion in oil and gas properties to subsidiaries of Occidental Petroleum Corp. and XTO Energy Inc. The stock trades for 10x cash flow.	Love	January 09, 2008
barrons2	Buy - Price 46.78 on Oct. 10 by Sterne Agee Target: 60. Fir Tree Partners announced that it would support PXP's acquisition of Pogo Producing (PPP). Several weeks ago, Fir Tree had sent a letter to PXP that said it would oppose the acquisition....With the now probable success of the acquisition of PPP, the number of shares increases from about 72 million to about 114 million in 4Q07. We have been informed by PXP that they own roughly 30% of the total Flatrock wells. If the Flatrock area totals 1.5 tcf [trillion cubic feet] in reserves and those reserves were to be sold for $3 to $3.25 per mcf [thousand cubic feet], the discovery is now worth about $12 per share to PXP. Our $60 target price equates to 38 and 8.2 times our 2007 estimated EPS and Ebitda [earnings before interest, taxes, deprecation and amortization], respectively.	Love	October 13, 2007
dleatherman	Cheap and stable Real Estate REIT with decent yield	Love	October 07, 2007
barrons2	"Shareholder Fir Tree plans to vote against the company's pending purchase of Pogo Producing (PPP). In a letter to Plains Exploration, Fir Tree said the deal is no longer attractive, because of recent turmoil in the credit markets and because Plains Exploration is so undervalued. Fir Tree said that Plains Exploration, an energy company, could generate more than $1 billion in aftertax proceeds from the "opportunistic" sale of its noncore assets. Without doing the deal, the company could also buy back 20 million to 25 million of its shares, Fir Tree said. If Plains Exploration successfully forms an upstream master limited partnership, its shares could be worth $70 to $75, Fir Tree said in the letter. Fir Tree reported ownership of 6,651,600 shares (9.1% of the total outstanding)"	Love	September 08, 2007
Allen Walton	value	Love	February 04, 2007
Pam	Potential target of Marathon Oil, Hess, or Andarko	Love	December 18, 2006