Texaco stock closed up a healthy 5 1/16 Friday amid rumors thecompany is a takeover target in the sights of Chevron. Texacoclosed at 67 ¬ on the New York Stock Exchange on volume more thantwice the average. The stock’s 52-week range is 44 9/16 to 65 7/8.Chevron shares closed down 2 15/16 at 94 7/8. The stock’s 52-weekrange is 73 to 104 15/16. A Texaco spokesman could not be reachedat press time, and Chevron declined to comment on the rumor.
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Articles from Sights
Futures Set Sights on $2.00
The futures market roared back to life on Monday, nearlyrecouping losses registered on Friday by trading 6.7 cents higherto settle at $1.945. Traders continued to cite a strong technicaloutlook coupled with increasingly bullish fundamental factors as areason for the advances.
September 15, 1998
CNG Sets Sights on Production Activities in 1999
In the aftermath of selling its bulk energy marketing arm,Consolidated Natural Gas (CNG) said it plans to shift its focus toCNG Producing, its New Orleans-based E&P arm, which willsignificantly increase over-all oil and gas production next year asthree key offshore pipeline projects come into operation. Much ofthe increase is expected to come from its production activities inthe Gulf of Mexico.
August 11, 1998
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