Friday, September 10, 2010

Transocean (NYSE:RIG), Anadarko (NYSE:APC) Jump on FBR Capital Comments

Comments from analysts at FBR Capital concerning the liability of Transocean (NYSE:RIG) Anadarko Petroleum Corporation (NYSE:APC) in the BP (NYSE:BP) oil spill, caused the share prices of the companies to move up, with Transocean exploding upward.

In the case of Transocean, the big move seems to be related to the share price being discounted too much, with investors thinking they would be liable for up to $7 billion.

FBR believed they're more likely to come to a settlement with BP for somewhere from $1 billion to $2 billion at top, which grabbed the attention of investor who stampeded to the stock, which is already far above the 3-month trading volume average.

"...we believe it seems reasonable to assume that Transocean might settle with BP for between $1 billion and $2 billion," said FBR Capital analysts.

In the case of Anadarko Petroleum, which owns 25 percent of the Macondo oil well, FBR said they think they'll settle with BP from between $2 billion to $4 billion.

1 comment:

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