OXY - Occidental Petroleum Corporation
36.45 +0.26 (0.70%)
After hours: 7:57PM EST
| Previous Close | 39.48 |
| Open | 39.54 |
| Bid | 36.45 x 1200 |
| Ask | 36.52 x 800 |
| Day's Range | 36.00 - 39.62 |
| 52 Week Range | 36.00 - 68.83 |
| Volume | 22,041,725 |
| Avg. Volume | 10,079,744 |
| Market Cap | 32.329B |
| Beta (5Y Monthly) | 0.96 |
| PE Ratio (TTM) | 26.49 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 3.16 (8.00%) |
| Ex-Dividend Date | Mar. 08, 2020 |
| 1y Target Est | N/A |
- Zacks
MRO vs. OXY: Which Stock Is the Better Value Option?
MRO vs. OXY: Which Stock Is the Better Value Option?
- Simply Wall St.
Based On Its ROE, Is Occidental Petroleum Corporation (NYSE:OXY) A High Quality Stock?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
- Zacks
Occidental (OXY) to Report Q4 Earnings: What's in the Cards?
Occidental Petroleum (OXY) is scheduled to report Q4 earnings on Feb 27. Increase in SG&A expenses are likely to have adversely impacted its earnings.
- Zacks
Zacks Value Trader Highlights: AbbVie, Allergan, Occidental, Chevron and CVS
Zacks Value Trader Highlights: AbbVie, Allergan, Occidental, Chevron and CVS
- Zacks
Occidental Petroleum (OXY) Gains As Market Dips: What You Should Know
In the latest trading session, Occidental Petroleum (OXY) closed at $43, marking a +1.15% move from the previous day.
- Zacks
Analysts Estimate Occidental Petroleum (OXY) to Report a Decline in Earnings: What to Look Out for
Occidental (OXY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Zacks
One of Your Stock Investments is Being Acquired: Now What?
One of your companies gets a buyout offer and the shares soar. There might be different strategies for traders and investors on what to do next.
- Bloomberg
Icahn Demands Occidental Reveal If It Got Takeover Approach
(Bloomberg) -- Activist investor Carl Icahn is calling on the leadership of Occidental Petroleum Corp. to reveal whether they were approached by any potential buyers prior to agreeing to acquire Anadarko Petroleum Corp. for $37 billion.The billionaire, who owns 3% of Occidental, said in a letter to the company’s shareholders Wednesday that Chief Executive Officer Vicki Hollub and Chairman Eugene Batchelder were trying to preserve their own jobs ahead of the interests of investors.“Why did they decide to embark on this ill-advised bet that has already destroyed over $30 billion in stockholder value; and if oil continues its decline, we believe will jeopardize the dividend, leaving stockholders to suffer even more?” Icahn wrote in the letter, a copy of which was seen by Bloomberg News.A representative for Occidental wasn’t immediately available for comment.Occidental’s shares, which have fallen 35% in the past year, rose 3.2% to $42.49 in New York Wednesday, giving the company a market value of $38 billion.Icahn nominated a slate of directors in November to replace the entire Occidental board ahead of its annual general meeting, which hasn’t been scheduled yet. Last year’s shareholder meeting was held in early May.The billionaire investor has been a vocal critic of Occidental’s takeover of Anadarko. He has taken aim at the fact the deal wasn’t taken to a shareholder vote and has been critical of Hollub’s decision to use $10 billion of funding from Warren Buffett for the transaction. He has said in the past he believed Buffett “took her to the cleaners” by accepting the financing for the deal.Icahn said in Wednesday’s letter that he believes the Anadarko deal was a “defensive maneuver” that allowed Occidental to be the acquirer rather than be acquired itself. He argues that Hollub and Batchelder chose to structure the deal in a way that avoided a shareholder vote, in part, because they feared the vote would fail. He also said it allowed them to avoid disclosing in regulatory filings whether it had been approached by a potential acquirer.He said the company should have walked away if they feared they wouldn’t win a shareholder vote. Rival bidder Chevron Corp.did just that, he said.“Chevron, unlike OXY, exercised restraint and refused to engage in a bidding war when the price for Anadarko became untethered,“ he said, referring to Occidental’s stock symbol.Icahn has been seeking records through the courts about the company’s interactions in the lead-up to the Anadarko deal.“If we are right, which we believe we are, these actions are unconscionable under any measure,” he said. “If, on the other hand, we are wrong, then we call upon Hollub and Batchelder to publicly and clearly state whether or not OXY was approached as a possible acquisition target? It’s a very simple question -- one that management should address on the February earnings call.”Shares in Occidental climbed Tuesday after the company said production exceeded estimates despite lower capital spending, a key rationale for the Anadarko deal. Occidental is scheduled to announce its full fourth-quarter results on Feb. 27.“You don’t have to be Sherlock Holmes to realize that these actions point to the fact that Hollub and Batchelder are hiding something important, such as the possibility of an acquirer,” Icahn said. “If ever there was a time for a CEO and Board to be held accountable, it is now.”(Updates with closing share price in fifth paragraph. Anadarko’s name was corrected in an earlier version of this story.)To contact the reporter on this story: Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Fion LiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Oilprice.com
Shale Gas Drillers Are Facing A Perfect Storm
Very low prices, high output, soaring debt and lower Asian LNG demand have created the perfect storm for U.S. natural gas drillers
- Zacks
Occidental Petroleum (OXY) Outpaces Stock Market Gains: What You Should Know
Occidental Petroleum (OXY) closed at $41.18 in the latest trading session, marking a +1.68% move from the prior day.
- Reuters
Occidental cuts 2020 capex, to book $1.7 billion charges in fourth quarter
The Anadarko deal was an enormous bet on the shale boom continuing and Occidental's ability to find ready buyers for unwanted assets. Occidental has had to slash costs, cut jobs and pull back on expansion plans to show investors it would fully protect its dividend. Occidental projected fourth-quarter production of 1.402 million barrels of oil equivalent per day (boepd) from continuing operations, above analysts' average estimate of 1.337 million boepd, according to IBES data from Refinitiv.
- Oilprice.com
Supermajors Are On The Prowl For Fresh Deals In The Permian
As Permian Basin bankruptcies and asset write-downs flood the headlines, new opportunities are emerging to scoop up quality acreage at a discount
- Zacks
Occidental Petroleum (OXY) Gains But Lags Market: What You Should Know
Occidental Petroleum (OXY) closed at $40.50 in the latest trading session, marking a +1.05% move from the prior day.
- Zacks
Oil & Gas Stock Roundup: ExxonMobil, Chevron & Shell Report Q4 Earnings
ExxonMobil (XOM), Shell (RDS.A) and Chevron (CVX) reported significant earnings decline compared to the same period a year earlier.
- Zacks
TOTAL (TOT) to Report Q4 Earnings: What's in the Offing?
TOTAL (TOT) is set to release fourth-quarter earnings on Feb 6. Its startups, LNG initiatives and cost management are likely to have had a positive impact on earnings.
- Simply Wall St.
Calculating The Fair Value Of Occidental Petroleum Corporation (NYSE:OXY)
How far off is Occidental Petroleum Corporation (NYSE:OXY) from its intrinsic value? Using the most recent financial...
- Zacks
CNX Resources (CNX) Q4 Earnings & Revenues Beat Estimates
CNX Resources' (CNX) Q4 earnings & revenues surpass estimates. The company lowers its 2020 production guidance.
- Zacks
Occidental Petroleum (OXY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Occidental Petroleum (OXY) closed at $40.47, marking a -1.77% move from the previous day.
- Bloomberg
Google Tops Green-Energy Buys, BlackRock Seen Jogging New Growth
(Bloomberg) -- U.S. tech giants including Alphabet Inc.’s Google led the way as corporations raised the amount of clean energy they bought in 2019 by about 40%. Moving forward, peer pressure by asset managers led by BlackRock Inc. could boost it even more.Corporations and public institutions globally acquired a record 19.5 gigawatts of clean energy through long-term power-supply agreements in 2019, easily beating a record set in 2018, according to a report Tuesday by BloombergNEF. Google topped the list with contracts for more than 2.7 gigawatts, roughly equaling the power of three nuclear reactors.In a letter to CEOs this month, BlackRock Chief Executive Larry Fink said his firm, with $7.4 trillion in assets under management, would prioritize climate change as a “defining factor in companies’ long-term prospects” and that a global climate emergency might upend business sooner than expected.“When investors like BlackRock make commitments, everyone below them doesn’t have a choice but to follow,” Kyle Harrison, the report’s lead author, said in an interview. At the same time, he said a wide range of companies are now “getting pressure from their investors, employees and from companies within their supply chain.”While tech companies dominated clean-energy procurement, a growing number of oil and gas companies are signing deals, including Occidental Petroleum Corp., Chevron Corp. and Energy Transfer Partners LP.The U.S. wasn’t the only growing market for power-supply agreements in 2019. Europe, the Middle East and Africa all had record years in 2019, according to the BloombergNEF report. In Latin America, which recorded three-fold growth, Brazil and Chile have emerged as top markets.“Corporations have purchased over 50GW of clean energy since 2008,” Jonas Rooze, lead sustainability analyst at BNEF, said in statement. “That is bigger than the power generation fleets of markets like Vietnam and Poland.”To contact the reporters on this story: Natalia Kniazhevich in New York at nkniazhevic2@bloomberg.net;Brian Eckhouse in New York at beckhouse@bloomberg.netTo contact the editors responsible for this story: Joe Ryan at jryan173@bloomberg.net, Reg Gale, Joe CarrollFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Oil Was Sick Even Before Coronavirus Hit
(Bloomberg Opinion) -- Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60 and change, its lowest since Halloween. This is all the more remarkable when you consider January has seen several geopolitical shocks stretching from Libya to Iraq.Like the outbreak itself, oil’s problems began in December with a fever of its own. Relief at a sudden truce in the U.S.-China trade war sparked a rally taking oil from about $62 a barrel close to $70 by the end of that month. Speculators, in retreat for much of 2019, suddenly piled in again. Hedge funds’ net length in the major crude and product contracts surged from less than 600 million barrels-equivalent to almost 900 million between early December and early January. On a rolling four-week basis, December saw the sharpest increase in long positions in my entire data series going back to the start of 2011 (and net length increased at its fastest rate in more than two years).You’ll notice the fever began to break a little earlier this month. Friday’s report from the Commodity Futures Trading Commission showed net length dropped by 63 million barrels-equivalent, or 7%, in the two weeks after January 7.But the way the fever subsided revealed continuing vulnerability. After all, prices dropped even as the killing of Iranian military leader Qassem Soleimani threatened to unleash chaos in one of the world’s biggest oil-producing countries, Iraq, and Libya’s tensions flared up again, blocking its oil exports. And this comes mere months after the collective shrugging-off of September’s attack on Saudi Arabia’s Abqaiq oil-processing facility. Besides fever, listlessness is also the hallmark of a sick patient.So why has the oil market reacted strongly in response to coronavirus reports but not in the other direction when rockets are exploding in the Middle East?There is likely a technical factor at play. Energy economist Phil Verleger points out oil producers such as Occidental Petroleum Corp. took advantage of the speculative rally to hedge their 2020 output. You can see this in the roughly 140 million barrel-equivalent expansion of swap dealers’ net short position in Nymex light sweet crude between early December and early January, a proxy for hedging activity by producers. As oil prices decline, particularly toward such key levels as $60 in Brent and $55 in WTI, so the banks that wrote the puts sell futures to manage their own exposure — a self-reinforcing spiral similar to what appeared to happen in the oil rout that closed out 2018.Underlying this is the basic problem that has dogged the oil market for five years: excess supply and inventories relative to demand. The continuing OPEC+ cuts that got everyone excited back in 2016 are the surest sign of this chronic condition; but there are others, such as unusually subdued U.S. gasoline demand.No one can accurately quantify what impact the coronavirus outbreak will have on oil prices. Novel diseases can ultimately amount to little or spark pandemics, with much in between. And the impact on oil demand, at least in the near term, has more to do with perceptions of infectiousness and what that does to travel and regular interaction rather than fatalities per se.Oil traders are as much in the dark on the ultimate course of this as anyone. Meanwhile, on the supply side, they know there is spare capacity, a demonstrated Saudi pledge to maintain supply even if bombed and a U.S. fracking industry that is bowed but, if goaded enough price-wise, tends to produce more rather than less. In other words, the ceiling is in sharper focus than the floor right now. To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY) closed the most recent trading day at $42.52, moving -1.78% from the previous trading session.
- Zacks
Will Occidental (OXY) Gain on Rising Earnings Estimates?
Occidental (OXY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- Zacks
Has Occidental Petroleum (OXY) Outpaced Other Oils-Energy Stocks This Year?
Is (OXY) Outperforming Other Oils-Energy Stocks This Year?
