41.20 0.00 (0.00%)
After hours: 7:27PM EST
|Bid||41.15 x 1000|
|Ask||41.40 x 800|
|Day's Range||41.12 - 41.66|
|52 Week Range||37.25 - 68.83|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||30.16|
|Earnings Date||Feb 26, 2020|
|Forward Dividend & Yield||3.16 (7.66%)|
|Ex-Dividend Date||Dec 08, 2019|
|1y Target Est||51.57|
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 ...
Following the the $55 billion cash-and-stock acquisition of Anadarko Petroleum last August, Occidental Petroleum (OXY) is now the largest producer in the Permian Basin, notes Todd Shaver, growth stock specialist and editor of BullMarket Report.
(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 firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis 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.
LOS ANGELES, CA / ACCESSWIRE / January 24, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
Although Houston was host to the largest oil and gas merger of the year, deals across the space were down in 2019 by total value, volume and average size. Of the seven deals in 2019 valued over $5 billion — so-called megadeals — four of them involved Houston companies, according to a report published by PricewaterhouseCoopers International Ltd. on Jan. 23. The largest of the deals was Houston-based Occidental Petroleum Corp.’s (NYSE: OXY) acquisition of The Woodlands-based Anadarko Petroleum Corp. for $64.2 billion, a higher value than all six other megadeals combined, according to the report.
Occidental Petroleum (OXY) closed the most recent trading day at $42.52, moving -1.78% from the previous trading session.
LOS ANGELES, CA / ACCESSWIRE / January 23, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
Occidental (OXY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
LOS ANGELES, CA / ACCESSWIRE / January 22, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
Chevron stock has moved with volatile oil prices amid geopolitical issues. But is it still worth buying? Find out what the expert analysis says
An offshoot of Occidental Petroleum may try a large-scale carbon sequestration project taking carbon dioxide from a southern Colorado cement plant and injecting it under West Texas oilfields to boost oil yields there. The pilot could make both cement production and oil wells more climate-friendly. It could also prompt carbon sequestration projects to spread north to other parts of Colorado and southern Wyoming.
Schlumberger (SLB) reported upbeat Q4 earnings on strength in its international operations. Meanwhile, Eni (E) announced the flow of first oil from the Agogo field, offshore Angola.
LOS ANGELES, CA / ACCESSWIRE / January 20, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Occidental Petroleum ...
HOUSTON, Jan. 16, 2020 -- Occidental Petroleum Corporation (NYSE:OXY) will announce its fourth quarter 2019 financial results after close of market on Thursday, February 27,.