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Murphy USA Inc. (MUSA) - $25 value - yours FREE >>
Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) - $25 value - yours FREE >>
Shell PLC Unsponsored ADR (SHEL) - $25 value - yours FREE >>
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SHEL's Subsidiary Concludes $1.96B Takeover of Shell Midstream
Shell plc’s (SHEL - Free Report) U.S.-based wholly owned subsidiary — Shell USA, Inc. — recently announced that it completed the $1.96-billion acquisition of Shell Midstream Partners.
Shell USA paid $15.85 in cash for each of the common units representing limited partner interests in Shell Midstream not owned by Shell USA or its affiliates.
Considering the completion of this previously announced agreement and plan of merger, Shell Midstream Partners is now an indirect, wholly owned subsidiary of Shell USA.
Moreover, as a result of this transaction, shares of Shell Midstream Partners are no longer traded on the New York Stock Exchange, in effect with the opening of markets on Oct 19, 2022.
Headquartered in London, Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with worldwide operations. The company is fully integrated as it is involved in all aspects of energy, from oil production to refining and selling.
Shell currently carries a Zacks Rank #2 (Buy). Investors interested in the energy space might also look at some other top-ranked stocks — Vista Oil & Gas (VIST - Free Report) , Murphy USA (MUSA - Free Report) and NexTier Oilfield Solutions — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Vista’s 2022 earnings is pegged at $3.14 per share, which indicates an increase of 481.5% from the year-ago earnings of 54 cents.
The consensus mark for VIST’s 2022 earnings has been revised 30.1% upward over the past 60 days.
The Zacks Consensus Estimate for Murphy USA’s 2022 EPS has been revised upward by about 18.3% over the past 60 days from $21.39 to $25.30.
MUSA beat the consensus mark for earnings in all the trailing four quarters, the average being 49%.
The Zacks Consensus Estimate for NexTier’s 2022 earnings stands at $1.40 per share, indicating an increase of about 425.6% from the year-ago loss of 43 cents.
NEX beat estimates for earnings in all the trailing four quarters, the average being around 269.5%.