|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||49.61 - 51.25|
|52 Week Range||47.00 - 86.60|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||9.48|
|Earnings Date||Aug 6, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||3.12 (6.32%)|
|1y Target Est||63.26|
Billionaire investor Carl Icahn on Wednesday ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes to win board seats. In a regulatory filing, Icahn said he planned to oust and replace four Occidental directors and change the company's charter through a stockholder consent solicitation to prevent it from ever engineering a similar takeover again. Responding to the filing, Occidental said it will review the latest materials filed by Icahn, and looks forward to addressing them in ongoing conversations with shareholders.
Chevron stock has moved with volatile oil prices amid geopolitical issues. But is it still worth buying? Find out what the expert analysis says
The master limited partnership completed a consolidation and a $4 billion drop-down deal earlier this year.
Oil inched higher on Tuesday morning as geopolitical fears drove bullish sentiment and the prospect of a de-escalation of the trade war reduced economic uncertainty
(Bloomberg) -- Occidental Petroleum Corp. is seeking a buyer to take majority control of Western Midstream Partners LP, the pipeline operator that it’s poised to inherit through its takeover of Anadarko Petroleum Corp., according to people familiar with the matter.Occidental is working with a financial adviser to solicit offers for half of Anadarko’s interest in Western Midstream and Western Midstream’s general partner, or management entity, said the people, who asked to not be identified because the matter isn’t public.The potential buyer of those stakes would also seek to acquire the 45% of Western Midstream that is traded publicly, the people said. That would leave Occidental with a minority stake in Western Midstream, the people said, enabling it to keep financial and operational interest in infrastructure for getting its oil and gas to market.The stakes could draw interest from private equity firms and rival pipeline operators such as Oneok Inc., Enterprise Products Partners LP and Energy Transfer LP, one of the people said. No decision has been made and Occidental could opt to not proceed with a sale, they said.Representatives for Occidental, Anadarko and Enterprise Products declined to comment. Representatives for Oneok and Energy Transfer didn’t respond to requests for comment.Western Midstream rose 2.2% to close at $29.37 in New York trading Monday, giving The Woodlands, Texas-based company a market value of about $13.3 billion.Anadarko owns 55.5 percent of Western Midstream and all of its general partner, according to regulatory filings.Anadarko DealOccidental is poised to acquire Western Midstream after agreeing in May to buy Anadarko for $38 billion, a deal expected to close in the second half of 2019. Occidental has said it would be open to selling Western Midstream after outbidding Chevron Corp. for Anadarko.“We don’t really feel like we have to necessarily own infrastructure to take advantage of it,” Vicki Hollub, Occidental’s chief executive officer, said in a conference call with analysts on May 6. “We would be willing to consider the optimization, monetization, of that sooner rather than later depending on the potential buyer.”Western Midstream controls more than 15,200 miles of pipelines and about six dozen processing and treatment facilities in the Midwestern U.S. and Texas, according to an investor presentation in May. Anadarko formed the company and took it public in 2012 as a so-called master limited partnership, or entity that gets tax breaks in exchange for doling out most of its profits to investors.A potential sale could help Occidental meet its goal of selling $10 billion to $15 billion of assets to pay down debt over the next two years. The company has already agreed to sell Anadarko’s operations in Africa for $8.8 billion to Total SA.To contact the reporters on this story: Kiel Porter in Chicago at firstname.lastname@example.org;Rachel Adams-Heard in Houston at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, ;Simon Casey at email@example.com, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
One of the most recognizable office properties in Houston’s Greenway Plaza submarket has a new owner.
Morgan Stanley downgraded Occidental’s stock saying lower oil prices could force management to cut capital expenditures.
The largest Insider Buys this week were for Lowe's Companies Inc., Energy Transfer LP, Occidental Petroleum Corp and MGM Resorts International
Chevron CEO Mike Wirth explains when to abandon a deal after he walked away from a bidding war with Occidental to acquire Anadarko Petroleum.
Occidental Petroleum (OXY) closed at $51.30 in the latest trading session, marking a +1.99% move from the prior day.
Anadarko Petroleum's (APC) FID decision on Mozambique's first onshore LNG facility will boost economic development of the African nation.
However, if Occidental Petroleum's acquisition of Anadarko closes, the Mozambique assets are among those that will be sold to Paris-based Total.
Occidental Petroleum Corp NYSE:OXYView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows * Bearish sentiment is moderate and increasing * Economic output in this company's sector is contracting Bearish sentimentShort interest | NeutralShort interest is moderate for OXY with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on June 10. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding OXY are favorable, with net inflows of $12.09 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS MarkitThere is no PMI sector data available for this security. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. OXY credit default swap spreads are at their highest levels for the past 3 years, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Pope Francis said on Friday that carbon pricing is "essential" to stem global warming - his clearest statement yet in support of penalising polluters - and appealed to climate change deniers to listen to science. In an address to energy executives at the end of a two-day meeting, he also called for "open, transparent, science-based and standardised" reporting of climate risk and a "radical energy transition" away from carbon to save the planet. Carbon pricing, via taxes or emissions trading schemes, is used by many governments to make energy consumers pay for the costs of using the fossil fuels that contribute to global warming, and to spur investment in low-carbon technology.
Two DD events to start: We look forward to meeting those of you who are confirmed to attend the special lunch interview with Barbarians at the Gate author Bryan Burrough on Tuesday. The likes of Carl Icahn and Warren Buffett have been swept up in the controversial deal that saw Occidental Petroleum swoop in to win Anadarko Petroleum from Chevron’s grasp. It turns out Occidental and Chevron have the same taste in advisers as they do in oil assets.
Teneo, the highflying corporate advisory firm founded by former associates of Bill and Hillary Clinton, has been dragged into arbitration after having worked for both sides in the takeover battle for Anadarko, the US oil company. Teneo, which provides services including strategy and communications advice, had worked for Occidental before Chevron made its offer for Anadarko.
Devon Energy's (DVN) focus on domestic U.S. assets will increase oil production. Its initiative to lower methane emissions is appreciable.
60 Oil & Gas industry leaders are slated for the first two days of EnerCom's 24 th Denver conference DENVER , June 12, 2019 /PRNewswire/ -- EnerCom has released the presentation schedule for the oil and ...