Anadarko Petroleum (APC) Stock: Skyrocketing On Acquisition Hopes

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Anadarko Petroleum Corporation (NYSE: APC) | Blackstone Group LP (NYSE: BX)

Anadarko Petroleum was having a normal day throughout most of the trading session today. However, minutes ago, the stock started spiking in a big way. After a quick search, we believe we’ve found the reason. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from APC ahead.

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What We’re Seeing From APC

As mentioned above, Anadarko Petroleum Corporation was having a normal day in the market through most of the trading session. However, minutes ago, the stock started climbing in a big way. Currently (3:21), APC is trading at $61.88 per share after a gain of $0.98 per share (1.61%) thus far today.

Why The Stock Is Headed Up

When we saw the spike in value, the CNA Finance team started digging to see why it was happening. After a short search, we found something good. According to recent reports, BX is in talks with regard to acquiring the South Texas assets owned by APC.

This could be a very big deal. It could mean that Blackstone would be handing over between $3 billion and $3.5 billion to acquire the assets. According to the rumor, BX is partnering with Sanchez Energy (SN) for the acquisition of APC. So, if that part is there, the capital is definitely available.

What We Can Expect To See Ahead

While the rumors suggest that a deal may be coming down the line in as little as a few weeks, it’s important that we keep in mind that this is just a rumor at this point. There has been no confirmation from Anadarko Petroleum, Blackstone, or Sanchez. With that said, I’m expecting to see continued gains in the short term as excitement continues to move the needle.

However, the mid-term view on APC will largely depend on how the deal evolves. So, keep an eye on a possible deal between BX, SN, and APC when trading ahead, as this will largely dictate movement.

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