10 large-cap stocks whose dividend yield is more than 4%

                 Forward Dividend & Yield

• Rio Tinto Group (RIO)   4.35 (6.66%)

• Verizon Communications Inc. (VZ)  2.71 (6.16%)

• Pfizer Inc. (PFE)  1.68 (5.75%)

• TotalEnergies SE (TTE)  3.43 (5.28%)

• BHP Group Limited (BHP)  2.92 (5.11%) 

• AT&T Inc. (T)  1.11 (5.08%)

• United Parcel Service, Inc. (UPS)   6.52 (4.80%)

• Philip Morris International Inc. (PM)    5.40 (4.49%)

• Chevron Corporation (CVX)  6.52 (4.33%)

• Shell plc (SHEL)  2.75 (4.11%)

         

==Hess (HES) to be acquired by Chevron (CVX) for $171 per share

Update: May 28, 24:  Hess receives stockholder approval for proposed merger with Chevron (CVX).

Hess to be acquired by Chevron for $171 per share

• Chevron Corporation (CVX) announced that it has entered into a definitive agreement with Hess Corporation (HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron's closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion.
• The acquisition of Hess upgrades and diversifies Chevron's already advantaged portfolio. The Stabroek block in Guyana is an extraordinary asset with industry leading cash margins and low carbon intensity that is expected to deliver production growth into the next decade. Hess' Bakken assets add another leading U.S. shale position to Chevron's DJ and Permian basin operations and further strengthen domestic energy security. The combined company is expected to grow production and free cash flow faster and for longer than Chevron's current five-year guidance. In addition, John Hess is expected to join Chevron's Board of Directors.
• The acquisition consideration is structured with 100 percent stock utilizing Chevron's equity. In aggregate, upon closing of the transaction, Chevron will issue approximately 317 million shares of common stock. Total enterprise value of $60 billion includes net debt and book value of non-controlling interest.
• The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first half of 2024. The acquisition is subject to Hess shareholder approval. It is also subject to regulatory approvals and other customary closing conditions.

BRK.A Berkshire Hathaway (Warren Buffett) : updated portfolio positions in 13F filing

Affirms OXY HPQ positions.

New C ALLY CE PARA CE MCK positions.

Exited WFC BMY ABBV

Highlights from 2022 Q1 filing as compared to Q4 2021:

• New positions in: OXY (~136.37 mln shares), HPQ (~104.48 mln), PARA (~68.95 mln), C (~55.16 mln), ALLY (~8.97 mln), CE (~7.88 mln), MCK (~2.92 mln), MKL (~0.42 mln)
• Increased positions in: CVX (to ~159.18 mln shares from ~38.25 mln shares), ATVI (to ~64.32 mln from ~14.66 mln), FWONK (to ~7.72 mln from ~2.12 mln), FND (to ~4.78 mln from ~0.84 mln), GM (to ~62.05 mln from ~60 mln) RH (to ~2.17 mln from ~1.82 mln)
• Maintained positions in: BAC (~1010.1 mln shares), AAPL (~890.92 mln shares), KO (~400 mln shares), KHC  (~325.63 mln shares), AXP (~151.61 mln shares), USB (~126.42 mln shares), DVA (~36.1 mln shares), MCO (~24.67 mln shares)
• Closed positions in: BMY (from ~5.2 mln), ABBV (from ~3.03 mln), WFC (from ~0.68 mln)
• Decreased positions in: VZ (to ~1.38 mln shares from ~158.82 mln shares), STOR (to ~14.75 mln from ~24.42 mln), RPRX (to ~1.5 mln from ~8.65 mln), KR (to ~57.99 mln from ~61.41 mln)

=Noble Energy (NBL) to be acquired by Chevron (CVX) for $10.38/share

Co announces that it has entered into a definitive agreement with Noble Energy (NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron's closing price on July 17, 2020 and under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total enterprise value, including debt, of the transaction is $13 billion.  

The acquisition of Noble Energy provides Chevron with low-cost, proved reserves and attractive undeveloped resources that will enhance an already advantaged upstream portfolio. Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron's position in the Eastern Mediterranean.

"This combination is expected to unlock value for shareholders, generating anticipated annual run-rate cost synergies of approximately $300 million before tax, and it is expected to be accretive to free cash flow, earnings, and book returns one year after close."

=Anadarko Petroleum (APC) : superior proposal from Occidental Petro (OXY) to acquire company for $76.00 per share

Anadarko Petroleum: Occidental Petroleum (OXY) confirms 'superior proposal' to acquire Anadarko for $76.00 per share in cash & stock

Occidental Petroleum Corporation delivered a letter to the Board of Directors of Anadarko Petroleum setting forth the terms of a superior proposal by Occidental to acquire Anadarko for $76.00 per share, in which Anadarko shareholders would receive $38.00 in cash and 0.6094 shares of Occidental common stock for each share of Anadarko common stock. Occidental's proposal represents a premium of approximately 20% to the value of Anadarko's pending transaction with Chevron (CVX) as of April 23, 2019.

• Occidental believes its proposal is superior both financially and strategically for Anadarko's shareholders, creating a global energy leader with the scale and geographic diversification to drive growth and deliver compelling value and returns to the shareholders of both companies. The combined company will be uniquely positioned to leverage Occidental's demonstrated operational and technical expertise, producing greater anticipated synergies than Anadarko's pending transaction.
• The 50-50 cash and stock transaction is valued at $57 billion, based on Occidental's closing price on April 23, 2019, including the assumption of net debt and book value of non-controlling interest.

Occidental Petro CEO on CNBC discusses bid for Anadarko (APC); note APC agreed to be acquired by Chevron (CVX) two weeks ago

• Anadarko will enhance dividend plus growth strategy
• Most APC assets are in the shale -- OXY has a proven track record in the Permian Basin.
• Been studying APC for two years; first approached them in July 2017; still a friendly engagement.
• CNBC's Faber: Why not look at other shale plays without a fight? No other oppty with this upside potential. There are 10K wells that can be drilled; OXY has much more efficient operations in the Delaware Basin.
• Will now be able to articulate strategy to its own shareholders -- very confident in getting approval from them.
• Half of synergies would come from things they already do for their assets.

Anadarko agreed to receive 0.3869 shares of Chevron (CVX) and $16.25 in cash which amounts to $65/share on April 12.

Occidental offered $38.00 in cash and 0.6094 shares of OXY which amounts to $76/share this morning (the bid has already been diminashed by OXY's falling stock price).

Two weeks ago, APC went with a (less risky) lower bid from a much better capitalized and larger CVX that doesn't need its shareholders to approve the deal while in discussions with OXY.

Premarket: APC +9%, OXY -8%, CVX +0.6%

=Anadarko Petroleum (APC) to be acquired by Chevron (CVX) for $65/share

Anadarko Petroleum to be acquired by Chevron (CVX) in a stock and cash transaction valued at $33 bln, or $65/share

Based on Chevron's closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion. In aggregate, upon closing of the transaction, Chevron will issue approximately 200 million shares of stock and pay approximately $8 billion in cash.

• The transaction is expected to achieve run-rate cost synergies of $1 billion before tax and capital spending reductions of $1 billion within a year of closing.
• Chevron expects the transaction to be accretive to free cash flow and earnings per share one year after closing, at $60 Brent.
• Chevron plans to divest $15 to $20 billion of assets between 2020 and 2022. The proceeds will be used to further reduce debt and return additional cash to shareholders.
• As a result of higher expected free cash flow, Chevron plans to increase its share repurchase rate from $4 billion to $5 billion per year upon closing the transaction.

=Chevron (CVX) reported earnings on Fri 28 Oct 2016 (b/o)

Chevron beats by $0.29, misses on revs:

• Reports Q3 (Sep) earnings of $0.68 per share, $0.29 better than the Capital IQ Consensus of $0.39; revenues fell 12.2% year/year to $30.14 bln vs the $30.58 bln Capital IQ Consensus

Upstream:

• Worldwide net oil-equivalent production was 2.51 million barrels per day in third quarter 2016, compared with 2.54 million barrels per day from a year ago
• Production increases from major capital projects, shale and tight properties, and base business were more than offset by normal field declines, the effect of asset sales, maintenance-related downtime primarily reflecting a major planned turnaround at Tengizchevroil, the effects of civil unrest in Nigeria and production entitlement effects in several locations
• U.S. upstream operations incurred a loss of $212 million in third quarter 2016 compared with a loss of $603 million from a year ago
• The improvement was due to lower operating and depreciation expenses, and lower tax items, partially offset by lower crude oil realizations