OXY - Occidental Petroleum Corporation
| Previous Close | 45.40 |
| Open | 46.00 |
| Bid | 0.00 x 1000 |
| Ask | 0.00 x 2200 |
| Day's Range | 44.96 - 46.40 |
| 52 Week Range | 41.83 - 83.35 |
| Volume | 10,935,060 |
| Avg. Volume | 8,948,719 |
| Market Cap | 40.332B |
| Beta (3Y Monthly) | 1.25 |
| PE Ratio (TTM) | 8.90 |
| EPS (TTM) | 5.07 |
| Earnings Date | Nov 4, 2019 - Nov 8, 2019 |
| Forward Dividend & Yield | 3.16 (6.96%) |
| Ex-Dividend Date | 2019-09-09 |
| 1y Target Est | 57.11 |
- Moody's
Western Midstream Operating, LP -- Moody's announces completion of a periodic review of ratings of Western Midstream Operating, LP
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Western Midstream Operating, LP and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- GuruFocus.com
Carl Icahn's Top 6 Holdings
Activist investor is moving fund office from New York to Florida Continue reading...
- Reuters
Occidental CEO calls for new U.S. laws to boost carbon capture
Occidental Petroleum Corp plans to shift toward a carbon-neutral production model, it chief executive said on Thursday, but new U.S. laws are needed to support technologies designed to fight global warming. Occidental, which recently purchased oil producer Anadarko Petroleum in $38 billion deal, is advancing its use of technologies to capture carbon, and prevent the element from escaping into the atmosphere. To make this a reality on a large scale, though, legislative change is needed, Occidental CEO Vicki Hollub told nearly 200 investors, government leaders and carbon sequestration companies at an Oil and Gas Climate Initiative investments conference in Chicago.
- Zacks
Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Occidental Petroleum (OXY) closed the most recent trading day at $46.29, moving -0.3% from the previous trading session.
- GuruFocus.com
Dodge & Cox Global Fund 2nd-Quarter Shareholder Letter
Discussion of markets and holdings Continue reading...
- Zacks
WPX Energy (WPX) Prices Notes Worth $600M to Refinance Debts
WPX Energy (WPX) is set to issue $600 million senior notes to refinance outstanding debt and for general corporate purposes.
- Bloomberg
Big Oil Circles Permian Riches as Shale Stocks Collapse
(Bloomberg) -- A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play.Independent producers in the Permian Basin of Texas and New Mexico are trading much lower than when Chevron Corp. bid for Anadarko Petroleum Corp. in April. Royal Dutch Shell Plc and ConocoPhillips have expressed interest in bulking up in shale at the right price. Exxon Mobil Corp.’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.Oil’s drop to near $55 a barrel, from $75 in October, is putting pressure on shale producers at a time when investors are losing faith in an industry that has burned about $200 billion of cash in a decade. Despite record U.S. output, the S&P index of independent exploration and production companies is trading near its troughs of 2008 and 2015, when crude prices sank south of $35 a barrel. The producers are now worth just 4.5 times their earnings before certain items, compared with 9 times about a year ago.“It’s clear there are many E&Ps trading well below the Chevron valuation watermark from April,” said Michael Roomberg, who helps manage $4.4 billion at Miller/Howard Investments Inc. He expects “several additional deals over the next several quarters, and wouldn’t be surprised if the majors are involved.”Pioneer Natural Resources Co. or Concho Resources Inc., which have both struggled this year, would be a good fit for Exxon, while Shell may look at smaller players like WPX Energy Inc. and Cimarex Energy Co., according to Tudor, Pickering, Holt & Co.The collapse in valuations has been so severe that the biggest shale producers may also come into play. EOG Resources Inc. and Occidental Petroleum Corp. could also be targeted, Ben Cook, a portfolio manager at BP Capital in Dallas, said earlier this year. Activist investor Carl Icahn is pushing for a shakeup of the board at Occidental.After a slow start in shale, Exxon and Chevron have expanded in the Permian at prodigious rates over the past two years and now see onshore exploration in the U.S. as a key part of their global growth plans. They expect to more than double output to roughly 1 million barrels a day each by the early 2020s.The two heavyweights are betting their ability to fund enormous drilling programs and build associated infrastructure like pipelines and gas terminals means they won’t encounter the growing pains the independents are currently experiencing.“If there is the opportunity to acquire something that brings unique value to Exxon Mobil, we’ll be in a position to transact on that,” Exxon CEO Darren Woods said at a Barclays Plc conference Wednesday.But he’s willing to let potential targets struggle for some time to get a better price.“Time’s on our side to let that play itself out,” Woods said. “I think people need to recalibrate what they’re experiencing in that unconventional space, and that will have an impact on how people value companies.”Chevron will be “opportunistic” in making acquisitions, the company’s North America head Jeff Gustavson said at the same conference. Any deal would have to be a strategic fit and be good value, he said.BP Plc entered the fray a year ago, acquiring BHP Group Ltd.’s onshore oil and gas assets for $10.5 billion. In hindsight, the timing looks bad given the slump in shale valuations since then.Waiting for too long could be risky as well. On the day Chevron bid for Anadarko (which it ended up losing to Occidental Petroleum Corp.), major shale producers surged as much as 12% as investors bet on a buyout frenzy.So far, Exxon, Chevron and Shell are looking smart.Some shale producers are struggling to pay creditors, with Sanchez Energy Corp. and Halcon Resources Corp. recently filing for bankruptcy protection.The majors “are going to go out there and run these guys into bankruptcy,” Mark Rossano, CEO of C6 Capital Holdings, said on Bloomberg TV. “They’re going to look to pick up acreage at significant discounts.”(Corrects Pioneer’s Permian output in chart titled ‘Major Rivalry’ in story published Sept. 4)To contact the reporter on this story: Kevin Crowley in Houston at kcrowley1@bloomberg.netTo contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- MarketWatch
The explosion of ‘alternative’ data gives regular investors access to tools previously employed only by hedge funds
Traditional money managers are scouring the world for information to gain an edge as indexing takes over.
- Zacks
Implied Volatility Surging for Occidental (OXY) Stock Options
Investors need to pay close attention to Occidental (OXY) stock based on the movements in the options market lately.
- Moody's
Moody's: Anadarko, PEMEX among firms whose ratings are close to boundary between investment and speculative grade
The credit ratings of a substantial number of energy companies in the Americas are currently near the "crossover zone," or the boundary between investment grade and speculative grade, Moody's Investors Service says in a new report. Only seven, however, are in the zone, with potential "rising stars" including US-based exploration and production firm, Anadarko Petroleum and potential "fallen angels" including the Mexican national oil company, PEMEX.
- Motley Fool
Big Oil Is on the Prowl for Its Next Big Acquisition
ExxonMobil and Chevron both see consolidation ahead for the industry, especially in the Permian Basin.
- Oilprice.com
Oil Majors Go Bargain Hunting In The Permian
The Permian used to be a place for wildcatters, but as investors are starting to lose patience with the so called ‘independents’, big oil is ready to go bargain hunting in America’s hottest shale basin
- Motley Fool
Why Occidental Petroleum Stock Plunged 15% in August
Several issues weighed on the oil giant.
- Barrons.com
The Explosion of ‘Alternative’ Data Gives Regular Investors Access to Tools Only Hedge Funds Used to Have
“Alternative data” is going mainstream as fund managers are projected to spend more than $1 billion this year to beat the market averages and stave off the rise of low-cost passive investing.
- InvestorPlace
7 Well-Positioned Oil Stocks in Today’s Trading Environment
Thanks to a seemingly endless supply of oil coming from the Permian Basin of Texas and other places, oil and gas prices, and often oil stocks, have struggled to gain traction. While the price of crude oil remains above $50 per barrel, natural gas prices have fallen below $2.50 per 1000 British thermal units (BTUs).The companies hurt the most are the exploration & production (E&P), or "upstream" firms, which depend most heavily on high oil prices. Since all they do is drill and sell raw product, revenues move up and down with market prices. However, low prices do not necessarily make life easy for the "midstream" companies who transport oil and gas or the "downstream" firms who must refine and sell. Hence, oil stocks in general have suffered as they continue to overproduce. * 7 Deeply Discounted Energy Stocks to Buy However, such conditions have created buying opportunities in many oil stocks. For those with an eye for bargains and the courage to speculate like an oil driller, some investors will set themselves up for a gusher of profits long-term. These stocks to buy could lead investors to such a windfall.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Brookfield Infrastructure Partners (BIP)Source: Shutterstock Brookfield Infrastructure (NYSE:BIP) has become one of the more diversified oil stocks, in this case, diversified by industry. It invests in what it calls the "backbone of today's global economy."The company's assets go well beyond pipelines. It also owns transport assets for utilities, energy, transportation, and data. They own assets spread across the globe, keeping them diversified by both industry and geography.In the past, the company had grown by acquisition. Now, it continues to churn assets to buy assets it believes will produce higher returns. It also wants to focus more on organic growth.At a forward price-to-earnings (PE) ratio of almost 28.7, it might appear expensive. However, this is also a company expected to generate an earnings growth rate of 159.3% this year. Admittedly, the emphasis on organic growth will slow that down in future years. However, that slower growth will bring cash flows, which should fuel the dividend higher.Aside from a years-long pattern of slow but steady price growth, the dividend also makes BIP stock a lucrative choice. Its annual payout of $2.01 per share yield around 4.28%. The company has also hiked this payout for nine consecutive years. With this generous dividend and the ever-increasing dependence on these pipeline transport, BIP should continue as a reliable source of stock price growth and cash flow. Cheniere Energy (LNG)Source: Shutterstock Arguably, no company defines technological change for oil stocks more than Cheniere (NYSEAMERICAN:LNG). Their growing network of export terminals turned natural gas exports from a hemispheric to a global industry.Many call the U.S. the "Saudi Arabia of natural gas." Thanks mostly to Cheniere, America's abundant natural gas supplies can now reach the world. Natural gas prices in the European Union had often reached levels three times higher than in the U.S. Now in Europe, natural gas trades for around $3.60 per 1000 BTUs. One year ago, that price had crossed the $9.50 per 1000 BTUs level. Access to natural gas from North America played a significant role in this decline. * 7 Tech Industry Dividend Stocks for Growth and Income Despite this improvement, LNG stock has struggled for years. Today, the forward PE ratio stands at about 19.6. This is due to falling profits for the year. However, next year, Wall Street expects a turnaround. Analysts forecast a 90.9% earnings increase for fiscal 2020. They also foresee profit growth averaging 29.3% per year over the next five years. As Cheniere helps to bring low-priced natural gas to the rest of the world, it should finally return LNG stock to a pattern of growth. Chevron Corporation (CVX)Source: Shutterstock In an environment of falling prices, large oil stocks such as Chevron (NYSE:CVX) tend to stand out. Chevron is one of the larger and more diversified oil stocks. While lower oil prices hurt the bottom line, they also operate midstream and downstream segments than can still deliver profits.For one, its 33-year string of annual dividend increases shows the company can produce returns in just about any price point for oil. The current payout of $4.76 per share provides a return of just over 4%. Moreover, the forward PE ratio of 14 remains well below the average multiple of 30 it maintained over the previous five years.Admittedly, if not for the dividend, CVX stock would make much fewer stocks to buy lists. It has seen no net price growth over the last five years. Also, losing its bid to buy Anadarko Petroleum (NYSE:APC) to Occidental Petroleum (NYSE:OXY) caused further frustration.Even though it operates in green-focused California, almost all of the world, California included, remains heavily dependent on fossil fuels. At some point, energy prices will turn around. When that happens, CVX stock will follow its peers higher. Chevron will serve those investors well who want to collect dividends now and reap stock price growth later. Encana (ECA)Source: Shutterstock Few oil stocks have suffered as much as Canadian driller Encana (NYSE:ECA). Encana traded near the $100 per share level as late as 2008. However, the financial crisis began a slide that even the 2013-2014 boom in oil prices could not stem. By 2015, it had fallen below $10 per share. With natural gas prices depressed, it now trades at around $4.50 per share.ECA stock has become risky. Profit growth will likely fall this year, and it will probably register modest growth. Moreover, due to the massive declines over the years, the market cap has fallen to $6 billion. That appears dangerous for a company that holds about $8.3 billion in long-term debt. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off However, the tide for ECA stock could finally turn soon. Despite industry conditions, Wall Street expects the company to deliver its third consecutive annual profit this year. Moreover, analysts forecast average growth of 37.7% per year over the next five years. Investors who purchase now will buy this growth at around 5.9 times forward earnings. As a burgeoning natural gas export industry helps to foster a recovery, it could easily take ECA stock with it. ExxonMobil Corporation (XOM)Source: Jonathan Weiss / Shutterstock.com Much like the aforementioned case for Chevron, ExxonMobil (NYSE:XOM) serves as one of the safer oil stocks in the current price environment. XOM operates in all segments of the oil and gas industry. As such, their diversification insulates the equity from wild oil price fluctuations. Although higher energy prices help, XOM stock tends to remain profitable even when it struggles to gain pricing power.No other metric reflects this underlying strength better than the dividend. The XOM payout has risen for 36 consecutive years, and in that time, oil prices have not fallen low enough to stop this payout. At $3.48 per share, stockholders receive a return of just over 5% from the payout alone.To be sure, the price of XOM stock has seen a steady decline. However, fundamentals may turn that around soon. It currently supports a forward PE ratio of just under 14.5. That multiple has averaged 21.9 over the last five years. Moreover, analysts expect the 29.9% profit decline this year to turn into a 38% increase next year. They also forecast average growth at or near double-digit levels in future years.At its current level, XOM stock will not make anyone rich. However, it looks well-positioned to both keep investors wealthy and provide a little cash flow. Liberty Oilfield Services (LBRT)Source: Shutterstock Liberty (NYSE:LBRT) provides hydraulic fracturing and other engineering services that enhance well production. It operates in some of the hottest fields including the Permian Basin, the Eagle Ford Shale, the Williston Basin, and several others.The company has existed since 2011. It is also one of the newer oil stocks, as it began trading in January 2018. LBRT debuted strong when it first opened at $17 per share. It briefly spiked as high as $23.51 per share later that year. Unfortunately, falling prices have weighed on the stock over the last year, and it now trades at around $10.75 per share.Wall Street expects profits to fall by 32.8% this year. The company has responded by slowing expansion and improving efficiency and utilization. * 10 Marijuana Stocks That Could See 100% Gains, If Not More Consequently, they also predict earnings will reverse course next year and increase by 10.6%. They also think it will lead to an average growth rate of 37% per year over the next five years. Right now, investors can buy this growth for about eight times forward earnings. Moreover, debt levels remain but manageable and modest compared with peers. Once the industry sees price recovery, LBRT stock should see a disproportionate benefit. Phillips 66 (PSX)Source: Shutterstock Phillips 66 (NYSE:PSX) operates as a midstream oil and gas company, who also operates in the chemicals, refining, and marketing industries. Like many oil stocks, it has fallen over the last year along with oil and gas prices.However, this has also left PSX stock trading at just under 9.5 times forward earnings. Moreover, Wall Street forecasts that profits will rebound in fiscal 2020, growing by 31.9%. This expansion should continue as the company adds both storage and pipeline capacity, especially in the Permian Basin, Oklahoma, and along the Texas Gulf Coast. New petrochemical facilities in both Texas and Qatar should also enhance that growth.Investors can also benefit from a stable dividend. The payout, now at $3.60 per share, yields 3.65%. Moreover, this payout has increased for seven years. Even the massive decline during the 2014-2016 oil price bust did not stop dividend increases. Hence, the price decreases the industry sees now should not stop payout increases.PSX stock may languish in the near term due to a lack of traction on oil and gas prices. However, as the industry recovers, Phillips 66 will continue to play a crucial and more significant role in bringing oil and gas to market.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 7 Well-Positioned Oil Stocks in Today's Trading Environment appeared first on InvestorPlace.
- Reuters
Exxon, Chevron see consolidation in top U.S. shale field
The two largest U.S. oil and gas companies on Tuesday left the door open for more acquisitions in the country's top shale field. Exxon Mobil Corp expects to see industry consolidation to happen "over some period of time," in the Permian Basin in west Texas and New Mexico, Chief Executive Darren Woods told investors at a Barclays energy conference in New York. Chevron Corp also will take an "opportunistic" approach in the basin, said Jeff Gustavson, vice president of Chevron's Mid-Continent business, at the Barclays conference.
- Simply Wall St.
It Might Be Better To Avoid Occidental Petroleum Corporation's (NYSE:OXY) Upcoming 1.9% Dividend
Occidental Petroleum Corporation (NYSE:OXY) is about to trade ex-dividend in the next 4 days. Investors can purchase...
- Investopedia
Why Bank of America Says Dividend Stocks are the Only Play Now
Bank of America believes that the S&P 500 will close 2019 unchanged, but see dividend payers as superior to bonds for the short and long terms.
- MarketWatch
Occidental Petroleum's stock falls along with oil prices, but analyst says record dividend yield is still safe
Shares of Occidental Petroleum Corp. fell 1.8% in afternoon trading Tuesday, weighed down by a 2.9% drop in crude oil prices, despite Raymond James analyst Pavel Molchanov's reassurance that the oil company's record-high dividend yield was "safe" even if crude oil prices drop another 16%. The company said in July that it was raising its quarterly dividend by a penny to 79 cents a share. At current stock prices, that implies a yield of 7.40%, above the implied yield for the SPDR Energy Select Sector ETF of 3.75% and for the S&P 500 of 2.02%. Molchanov said the sharp increase in leverage, both debt and preferred equity, following the acquisition of Anadarko, has led to a compression in valuation and a commensurate widening in the dividend yield "to what is by far its highest-ever level." But after his "stress test" of Occidental's dividend, he said the dividend can be "comfortably maintained" as long as West Texas Intermediate crude doesn't fall below $45 a barrel for a sustained amount of time. Meanwhile, October WTI crude oil futures fell 2.8% to $53.58. "Even with the oil market's macro-related weakness this summer, at no point did oil prices approach a level where we ought to be worried about an [Occidental] dividend cut," Molchanov wrote in a note to clients. The stock has tumbled 30.4% year to date, while energy ETF has slipped 0.9% and the S&P 500 has gained 15.7%.
- Barrons.com
Occidental’s Dividend Is Safe Even at $45 Oil, Analyst Calculates
(OXY) has been a problem child of the oil industry since its decision to buy Anadarko Petroleum earlier this year. At a time when energy investors want big dividends, it loaded up on debt and made a deal with Warren Buffett that will have it paying (BRKA) interest for years. Shares dropped 2.1% on Tuesday morning to $42.56.
- Barrons.com
The Worst Oil Stocks So Far This Year
Cimarex, Occidental, and Halliburton are three energy stocks that catching the worst as the sector struggles. Big companies have cut back on oil investments even as the price of oil has risen.
- GuruFocus.com
52-Week Company Lows
Details the 52-week lows of the following companies: Altria Group, ConocoPhillips, Simon Property Group, Bank of New York Mellon, Occidental Petroleum and Carnival Corp Continue reading...
- Simply Wall St.
Occidental Petroleum Corporation (NYSE:OXY) Delivered A Better ROE Than Its Industry
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
- Motley Fool
Is Occidental Sinking Far Below Deepwater?
Why the shale producer may be in over its head.
