Why Energy Company YPF Shares Are Gaining Today

YPF Sociedad Anonima YPF shares are trading higher after the company announced cash tender offers for securities up to $500 million.

YPF has launched a cash tender offer to buy up to $500 million in aggregate principal amount of its 8.500% Class XXXIX notes due July 28, 2025, with an outstanding principal of $1.131 billion, and its 6.950% Class LIII notes due July 21, 2027, which have an outstanding principal of $809.303 million, per a filing.

This offer is subject to the Acceptance Priority Level detailed in the Offer to Purchase dated August 29, 2024. The tender offer is subject to various conditions outlined in the Offer to Purchase, the company said.

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The Tender Offers are set to expire at 5:00 p.m. New York City time (6:00 p.m. Buenos Aires time) on Friday, September 27, 2024, unless extended or terminated earlier.

Also, Jefferies analyst Alejandro Demichelis upgraded YPF from Hold to Buy and raised the price target from $23.5 to $30.

According to Benzinga Pro, YPF stock has gained over 62% in the past year. Investors can gain exposure to the stock via Global X MSCI Argentina ETF ARGT and AdvisorShares Dorsey Wright ADR ETF AADR.

Price Action: YPF shares are trading higher by 5.4% to $23.67 at last check Friday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.