OXY - Occidental Petroleum Corporation
| Previous Close | 41.12 |
| Open | 41.03 |
| Bid | 0.00 x 900 |
| Ask | 0.00 x 1800 |
| Day's Range | 39.97 - 41.07 |
| 52 Week Range | 39.97 - 75.79 |
| Volume | 10,523,161 |
| Avg. Volume | 9,186,831 |
| Market Cap | 36.235B |
| Beta (3Y Monthly) | 1.25 |
| PE Ratio (TTM) | 7.99 |
| EPS (TTM) | 5.07 |
| Earnings Date | Nov. 4, 2019 |
| Forward Dividend & Yield | 3.16 (7.68%) |
| Ex-Dividend Date | 2019-09-09 |
| 1y Target Est | 54.74 |
- Zacks
Should Value Investors Consider Occidental Petroleum (OXY)?
Let's see if Occidental Petroleum (OXY) stock is a good choice for value-oriented investors right now from multiple angles.
- Zacks
Occidental Petroleum (OXY) Gains But Lags Market: What You Should Know
In the latest trading session, Occidental Petroleum (OXY) closed at $41.03, marking a +0.47% move from the previous day.
- GlobeNewswire
Occidental to Announce Third Quarter Results Monday, November 4, 2019; Hold Conference Call Tuesday, November 5, 2019
HOUSTON, Oct. 10, 2019 -- Occidental Petroleum Corporation (NYSE:OXY) will announce its third quarter 2019 financial results after close of market on Monday, November 4, 2019,.
- Simply Wall St.
Does Occidental Petroleum Corporation's (NYSE:OXY) P/E Ratio Signal A Buying Opportunity?
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
Oilprice.comThe Oil Majors Leading The M&A Boom In Oil And Gas
European supermajors BP and Shell occupy the top spots on opposite sides of Rystad Energy’s M&A ranking for the oil and gas sector during the last five-year period
- GlobeNewswire
Occidental starts up first-of-its-kind solar facility directly powering oil and gas operations
Occidental (OXY) today announced the start-up of the company’s first solar facility to directly power an enhanced oil recovery field operation in the Permian Basin. The company, through its Oxy Low Carbon Ventures (OLCV) subsidiary, also announced that it has signed a long-term power purchase agreement for 109 MW of solar energy, beginning in 2021, for use in its Permian operations.
- Zacks
Occidental Petroleum Divests Non-Core Assets to Lower Debt
Occidental Petroleum (OXY) continues to sell non-core assets, and focus on higher-margin and high-return production from Permian resources.
- Zacks
Occidental Petroleum (OXY) Dips More Than Broader Markets: What You Should Know
Occidental Petroleum (OXY) closed at $42.96 in the latest trading session, marking a -1.85% move from the prior day.
- Bloomberg
Elliott's Marathon Fight Spells Trouble for MLPs
(Bloomberg Opinion) -- As the fight for Marathon Petroleum Corp.’s future intensifies, collateral damage looms for an already battle-scarred asset class: master limited partnerships.Elliott Management Corp.’s call for splitting Marathon in three has garnered support from a couple of other shareholders now pushing CEO Gary Heminger to step down. Marathon’s board says it stands behind Heminger, but the persistent discount in the stock versus its sum-of-the-parts value should keep the issue of a corporate overhaul alive. While the future of retail arm Speedway looks like the most contentious area, Elliott’s suggestion of converting Marathon’s MLP, called MPLX LP, into a regular C-Corp and spinning it off looks less controversial.Such conversions have become commonplace. Problems with governance, debt, tax reform and general energy exposure have crushed MLP valuations, eroding their main reason for existing, namely as a cheap source of capital. MPLX now sports a distribution yield of about 9.5%. Converting to a C-Corp, as many others have done, would open up a wider pool of investors.That could be great for MPLX; less so for MLPs.I wrote here back in May about the shrinking MLP pool. Since then, a few partnerships have disappeared, including Andeavor Logistics LP, which was bought by MPLX. Meanwhile, Tallgrass Energy LP has received a buyout offer (of sorts), and Kinder Morgan Canada Ltd. should disappear by the end of the year. Plus, with Occidental Petroleum Corp. trying to pay off the debt from its acquisition of Anadarko Petroleum Corp., Western Midstream Partners LP also could be exiting the scene.Here are updated charts breaking down 83 North American energy infrastructure companies (not including utilities) into their respective groups, weighted by market cap and free float. The dominance of the C-Corps is pretty clear: An MPLX conversion would have a big impact. With a market cap of roughly $30 billion(1), MPLX represents about 11% of North American energy partnerships’ aggregate value. It’s also the largest member of the Alerian MLP Index. Assume MPLX converts and is spun off, plus Buckeye Partners LP(2), Tallgrass, Kinder Morgan Canada and Western Midstream all disappear. Under that scenario, C-Corps would jump from about 62% of the aggregate free float of energy infrastructure firms to more than two-thirds. Meanwhile, outside of C-Corps and the big four, we would be left with a long tail of 61 companies with a combined free float of just $48 billion, averaging less than $800 million each.And the dwindling ranks of the Alerian MLP index would thin further; MPLX, Tallgrass and Western Midstream account for a fifth of its weighting. The relative weighting of smaller partnerships with lower-quality midstream assets would increase. For example, all else equal, Genesis Energy LP, which houses everything from soda-ash production to pipelines to shipping, could enter the top 10 of the index’s holdings.A vicious cycle is at work here. As generalist investors have withdrawn, so MLP valuations have remained subdued despite some recovery in energy prices and continued growth in U.S. physical energy flows. This, along with governance concerns, persuades more partnerships to either sell out or give up on the structure, reducing the pool of available investments, which in turn leads to investment mandates and specialist funds migrating away.Earlier this month, large pension funds in Iowa and Oklahoma effectively eliminated asset allocations to MLPs, with Teachers’ Retirement System of Oklahoma noting a number of drawbacks, including an “extremely small universe of securities relative to other asset classes.” In his latest weekly roundup of the sector, Hinds Howard at CBRE Clarion Securities noted that after a year of trying to deal with weak performance and growing concentration, institutions are “throwing in the towel,” with allocations “being diverted to listed infrastructure strategies, private equity or just plain old global equities.” He adds:MLPs have lost the special designation as a separate allocation within real assets that the sector has enjoyed over the years. That fund flow headwind is the biggest impediment to midstream performance [for] the rest of 2019, especially if oil prices are going to remain a headwind.Of course, even if MLPs are shrinking in importance, the hard assets they own remain and can be invested in under other structures. BP Capital Fund Advisors LLC is touting the catchily named UBS E-TRACS NYSE Pickens Core Midstream Index ETN, which includes allocations to C-Corps, with a recent report subtitled: “Is your midstream exchange traded product still relevant?” Some funds have taken an holistic approach to energy infrastructure for years, notably the First Trust North American Energy Infrastructure Fund, which mixes partnerships with C-Corps and even utilities, and the Voya CBRE Global Infrastructure Fund, which extends beyond energy-related infrastructure.Looking at the relative performance, it isn’t hard to see why. And as more MLP constituents either change identity or leave altogether, more institutional money will follow.\- With graphics by Elaine He (1) All data are as at the market close on September 26, 2019.(2) IFM Investors agreed to buy Buckeye for $11.1 billion (including assumed debt) in May 2019, with completion expected by the end of the year.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 the editorial board or 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/opinion©2019 Bloomberg L.P.
- Business Wire
Occidental Provides Update on Divestiture and Deleveraging Initiatives
Occidental Petroleum Corporation (“Occidental” or “the Company”) (OXY) today provided an update on its divestiture and deleveraging initiatives following the recent close of its acquisition of Anadarko Petroleum (“Anadarko”) on August 8, 2019. Sale of Anadarko’s Mozambique LNG Stake to Total: Occidental has completed the sale of Anadarko’s Mozambique LNG stake to Total S.A. (“Total”) (TOT), for $3.9 billion.
- Yahoo Finance
Investing in energy 'can almost be seen as a recession hedge': analyst
Understand how the fundamentals of the energy sector are changing in order to invest in it, says Jan-Willem Bode, a director at Navigant.
- Zacks
Noble Energy (NBL) Prices Notes Worth $1B to Refinance Debts
Noble Energy (NBL) prices long-term notes and intends to utilize the proceeds from the offering to redeem $1 billion debt due in 2021.
- Zacks
Occidental Petroleum (OXY) Flat As Market Sinks: What You Should Know
Occidental Petroleum (OXY) closed at $45.50 in the latest trading session, marking no change from the prior day.
- Oilprice.com
Who Is To Blame For The Decline In Permian Production?
The Permian Basin boom is clearly dying, with production falling and investors pulling out, but who -or what - exactly is to blame for this decline?
- Simply Wall St.
Should You Worry About Occidental Petroleum Corporation's (NYSE:OXY) CEO Salary Level?
Vicki Hollub became the CEO of Occidental Petroleum Corporation (NYSE:OXY) in 2016. This analysis aims first to...
- Zacks
Zacks Value Trader Highlights: Exact Sciences, Edwards Lifesciences, Bristol Myers-Squibb, Occidental Petroleum and Exxon Mobil
Zacks Value Trader Highlights: Exact Sciences, Edwards Lifesciences, Bristol Myers-Squibb, Occidental Petroleum and Exxon Mobil
- Market Realist
Elephants Elusive: Should Buffett Seek a Smaller Animal?
In this year’s annual shareholder letter, Berkshire Hathaway (BRK.B) CEO Warren Buffett discussed the possibility of an “elephant-sized acquisition."
- Bloomberg
Blackstone, Apollo Are Said to Eye Western Midstream Stake
(Bloomberg) -- Blackstone Group Inc. and Apollo Global Management Inc. are interested in bidding for a majority stake in Western Midstream Partners LP being sold by Occidental Petroleum Corp., according to people familiar with the matter.Global Infrastructure Partners and KKR & Co. are also interested, said the people, who asked to not be identified because the matter isn’t public. Apollo is considering investing in the oil and gas pipeline operator through Spartan Energy Acquisition Corp., a special purpose acquisition vehicle it backs, the people said.A deal could be reached by the end of this year, they said. Nothing has been finalized and Occidental could opt to keep full ownership of the company, they said.Representatives for Blackstone, Apollo, Global Infrastructure Partners and KKR declined to comment. Representatives for Occidental, Western Midstream and Spartan didn’t respond to requests for comment.Western Midstream fell 1% to $26.54 at 12:09 p.m. in New York trading Thursday, for a market value of $12 billion.Western Midstream, based in the Woodlands, Texas, has more than 15,200 miles of oil and gas pipelines and about six dozen processing and treatment facilities in the Midwestern U.S. and Texas, according to an investor presentation in May.Occidental Petroleum acquired a majority stake in the company via its purchase last month of Anadarko Petroleum Corp., which had formed the company to house its pipeline operations. The potential divestiture would help Occidental meet its goal of selling $10 billion to $15 billion in assets over the next two years to pay down debt.(Updates share price in fifth paragraph.)\--With assistance from Kevin Crowley.To contact the reporter on this story: Kiel Porter in Chicago at kporter17@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Matthew Monks, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Stock Investors: Do You Need a Late Cycle Plan?
The financial media keeps talking about the economy being in the late cycle but that doesn't mean you can't be buying stocks.
- Zacks
Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Occidental Petroleum (OXY) closed at $44.60, marking a -1.22% move from the previous day.
- Yahoo Finance
Rising oil prices are both good and bad for the US economy
More money consumers have to spend fill up their cars means "less to spend for items at the mall," says one economist.
- Zacks
Occidental Petroleum (OXY) Surges: Stock Moves 6% Higher
Occidental Petroleum (OXY) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
- The Motley Fool
Forget Marijuana Stocks, Buy This 1 Stock Instead
Maple Leaf Foods Inc. (TSX:MFI) has a 52-week range between $26.05 and $35.82 which presents an excellent investment opportunity.
- Investing.com
StockBeat: Apache Jumps as Oil Soars
Investing.com - Apache (NYSE:APA) shares were soaring Monday in the aftermath of a drone attack on Saudi Arabia oil facilities on Saturday.
- Business Wire
Occidental Announces Final Results in its Offers to Exchange Twenty-Three Series of Notes Issued by Anadarko Petroleum Corporation, Anadarko Holding Company, Anadarko Finance Company and Kerr-McGee Corporation For Occidental Notes
Occidental Petroleum Corporation today announced the expiration and final results of the offers to exchange any and all validly tendered and accepted notes of the 23 series of notes described in the table below for the new notes of a corresponding series to be issued by Occidental as described in the table below and cash and the related solicitation of consents being made by Occidental on behalf of ...
