|Bid||42.00 x 1800|
|Ask||42.22 x 900|
|Day's Range||41.83 - 42.57|
|52 Week Range||37.25 - 68.83|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||30.83|
|Earnings Date||Feb. 26, 2020|
|Forward Dividend & Yield||3.16 (7.35%)|
|Ex-Dividend Date||Mar. 08, 2020|
|1y Target Est||51.11|
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.
INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Anadarko Petroleum Corporation
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.
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Anadarko Petroleum Corporation (NYSE: APC), now a wholly-owned subsidiary of Occidental Petroleum Corporation (NYSE: OXY), between February 20, 2015 and May 2, 2017, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Anadarko investors under the federal securities laws.
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.
HOUSTON, Feb. 13, 2020 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared a regular quarterly dividend of $0.79 per share on.
(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 email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, 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.
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.
As Permian Basin bankruptcies and asset write-downs flood the headlines, new opportunities are emerging to scoop up quality acreage at a discount
ExxonMobil (XOM), Shell (RDS.A) and Chevron (CVX) reported significant earnings decline compared to the same period a year earlier.
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.
How far off is Occidental Petroleum Corporation (NYSE:OXY) from its intrinsic value? Using the most recent financial...
In the latest trading session, Occidental Petroleum (OXY) closed at $40.47, marking a -1.77% move from the previous day.
LOS ANGELES, CA / ACCESSWIRE / January 29, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
LOS ANGELES, CA / ACCESSWIRE / January 28, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
(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 email@example.com;Brian Eckhouse in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Joe Ryan at email@example.com, 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.
LOS ANGELES, CA / ACCESSWIRE / January 27, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...