On Wednesday, Shares of Axalta Coating Systems Ltd. (NYSE:AXTA), lost -0.10% to $29.97.
Axalta Coating Systems has priced a secondary offering of 30,000,000 of its common shares at $29.75 per share. All of the shares are being offered by certain associates of The Carlyle Group. The selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 4,500,000 common shares. Axalta will not receive any proceeds from the offering, counting from any exercise by the underwriters of their option to purchase additional common shares.
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P. Morgan are lead book-running managers for the offering. Additional book-running managers are BofA Merrill Lynch, Barclays, Credit Suisse, Jefferies and UBS Investment Bank. Co-managers are Morgan Stanley, BB&T Capital Markets, Nomura, SMBC Nikko and Academy Securities.
Axalta Coating Systems Ltd., through its auxiliaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings.
Shares of Magnum Hunter Resources Corp. (NYSE:MHR), showed no change to $1.08, during its last trading session.
Magnum Hunter Resources declared financial and operating results for the three and six months ended June 30, 2015. The Company plans to file its Form 10-Q for the quarter ended June 30, 2015 with the Securities and Exchange Commission later recently, Friday, August 7, 2015. Highlights of the Company’s financial and operating results comprise the following:
- Mid-year proved reserves grew to 801.8 Bcfe, an enhance of 60% from year-end 2014
- Stated production of 126.0 MMcfe/d (21.0 MBoe/d) and pro-forma production(a) of 144.0 MMcfe/d (24.0 MBoe/d) for second quarter 2015; pro-forma production raised 37% over actual stated production for the preceding year comparable quarter
- Second quarter 2015 production mix of 68% natural gas, 17% NGLs and 15% oil
- Average realized natural gas price for second quarter 2015 was $1.67 per Mcf (a $1.06 per Mcf negative differential to the average NYMEX price for the period)
- Recent record throughput volumes on Eureka Hunter Pipeline System of about 700,000 MMBtu/d
- Production costs per Mcfe for second quarter 2015 declined 8.2% to $0.82, contrast to the preceding year comparable quarter
- Recurring general and administrative expenses(b) for second quarter 2015 were $0.39 per Mcfe, a 64% decrease over the preceding year comparable quarter
- Adjusted EBITDAX(b)for second quarter 2015 was $7.5 million
- Net loss of ($0.15) per diluted share stated for second quarter 2015
- Closed on the sale of ~5,210 net leasehold acres in Tyler County, West Virginia, resulting in net cash proceeds of $37.6 million counting post-closing adjustments
- ~201,000 net leasehold acres in two core plays, of which ~76,000 net acres located in the Marcellus Shale and ~125,000 net acres located in the Utica Shale.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States. The company operates through the U.S. Upstream, Midstream, and Oilfield Services segments.
Finally, Dover Corporation (NYSE:DOV), ended its last trade with 0.34% gain, and closed at $64.65.
The Board of Directors of Dover Corporation raised its quarterly cash dividend to $0.42 (forty-two cents) per share, from the previous $0.40 (forty cents) per share, an enhance of $0.02 (two cents) or 5%. This is the 60th successive year in which the Company has raised its annual cash dividend. With this enhance, Dover has the third longest record of successive annual dividend enhances of listed companies, as stated by Mergent`s Dividend Achievers.
This raised dividend will be paid on September 15, 2015 to shareholders of record as of August 31, 2015.
Dover Corporation manufactures and sells a range of equipment and components, specialty systems, and support services in the United States. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
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