|Bid||43.11 x 1400|
|Ask||45.67 x 2900|
|Day's Range||44.75 - 45.96|
|52 Week Range||43.08 - 83.35|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||9.00|
|Earnings Date||Nov 4, 2019 - Nov 8, 2019|
|Forward Dividend & Yield||3.16 (7.09%)|
|1y Target Est||59.63|
SVP & CFO of Occidental Petroleum Corp (30-Year Financial, Insider Trades) Cedric W. Burgher (insider trades) bought 2,500 shares of OXY on 08/14/2019 at an average price of $43.27 a share. Continue reading...
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...
Occidental Petroleum Corporation today announced the commencement of offers to exchange any and all validly tendered and accepted notes of the 23 series of notes described in the below table issued by Anadarko Petroleum Corporation , Anadarko Holding Company, as successor in interest to Union Pacific Resources Group Inc.
Following the Anadarko acquisition, real estate is not a primary focus for Occidental, which is working on integrating functional aspects of the businesses.
Shares of Occidental Petroleum Corp. are falling 3.5% in morning trading, to extend recent losses to the lowest levels seen in more than 10 years, after the company disclosed disappointing production guidance for the third quarter and for the full year. The stock traded at the lowest level seen during regular-session hours since Dec. 5, 2008, and has shed 7.9% since the acquisition of Anadarko closed on Aug. 8. In an 8-K filing with the Securities and Exchange Commission late Tuesday, the company said production from Anadarko's legacy assets in the second half of 2019 is expected to be negatively impacted by higher planned downtime in the Gulf of Mexico, short-term processing and downstream limitations in the D.J. Basin and year-to-date delays bringing new wells online and higher downtime in the Delaware Basin. The company said it expects U.S. production of 585-to-630 thousand barrels of oil equivalent per day (Mboed) for the third quarter and 605-to-630 Mboed for 2019. KeyBanc Capital analyst Leo Mariani said that while the guidance is "a little behind prior expectations," since they are the first iteration of U.S.-only production, "it isn't clear how much they reduced it." The stock has tumbled 20.8% over the past three months, while the SPDR Energy Select Sector ETF has lost 10.2% and the S&P 500 has gained 1.5%.
Shares of Occidental Petroleum Corp. fell Tuesday, to miss out on the rally in the energy sector and the broader stock market, after J.P. Morgan turned bearish on the oil and gas production company, as it had “no easy way out” of the risk it took on to buy Anadarko.
The Oracle of Omaha has been building cash in 2019, but that’s no reason to fear the market or deviate from your long-term investing plan.
JPMorgan analyst Phil Gresh resumed coverage of the company with an Underweight rating. He still thinks the stock can rise this year, just not as much as other major oil names.
Occidental's dividend as a percentage of free cash flow is too elevated at an estimated 95% in 2021, and the stock's valuation isn't attractive enough to mitigate any concerns, Gresh said in a Tuesday note. Strip prices are hovering around an estimated $55 per barrel range in the coming years, and Occidental's downside risk is worse than that of peers, he said. Assuming $60 per barrel Brent prices, Occidental's dividend as a percentage of free cash flow is 128% in 2022 versus about 87% for U.S. peers.
Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company's finance chief said on Monday. Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an EnerCom energy conference audience, the resulting debt burden was "not too bad," and pledged Occidental would be selective in choosing assets to sell. "When the smoke clears, people will start to see what we've done," Burgher said to an overflow crowd.
The energy explorer’s stock is falling on Monday, following a downgrade from Evercore ISI, which argues that Occidental’s acquisition of Anadarko Petroleum destroyed value.
Shares of Occidental Petroleum Corp. sank 3.6% toward the lowest levels seen in nearly 11 years, in the wake of closing of the $38 billion deal to buy Anadarko Petroleum on Thursday. Following the closing of the deal, S&P Global Ratings cut the oil and natural gas company's long-term credit rating by three notches to BBB from A, citing weaker credit measures given the debt issued to buy Anadarko. Occidental's stock is on track for the lowest close since December 2008. Meanwhile, Bank of America Merrill Lynch analyst Doug Leggate reiterated his buy rating, saying Occidental's stock represents "perhaps the best opportunity amongst the U.S. oils," given yield, value and execution visibility. He raises his stock price target to $80, which is 76% above current levels, from $78. "[I]n our view, few can claim a free cash flow yield of 12% with line of sight to return its entire market value to investors through a combination of dividends, debt reduction and eventually share buy backs over the next 5-6 years," Leggate wrote in a note to clients. Separately, the stock has an implied dividend yield of 6.95%, compared with the implied yields for the SPDR Energy Select Sector ETF of 3.63% and for the S&P 500 of 2.01%.
announced since April as falling interest rates, weak trading volumes and investor pressure to protect profits force the sector to shrink. Most of the cuts have come in Europe, with Deutsche accounting for more than half the total, but in New York City jobs in commodity and securities trading have also gone. Since long-term US interest rates began to fall in November, the KBW index of US bank shares has fallen 5 per cent, while the S&P 500 has risen 6 per cent. The Stoxx index tracking European banks has lost 16 per cent since November.
Shares of energy giant Occidental fall after an Evercore ISI analyst downgrades his outlook for the company in the wake of its acquisition of Anadarko.
The market has been on a wild ride this week, and today won't be much different. But the fact is, there are a number of things going on around the globe that are signaling that a slowdown is underway, trade wars or not.The United Kingdom just announced that its economy has contracted. Germany's manufacturing is weakening. Many European Union nations are back to negative interest rates to spur investment. The United States is still doing all right, but the trade war is starting to have its costs. And if President Donald Trump's administration adds another $300 billion Chinese goods to the war, not even the easiest Federal Reserve policy may help.Adding to this, the U.S. dollar remains the strongest currency out there. And that's not good for multinational corporations or companies that rely on the strength or weakness of the dollar for their products.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Dividend Aristocrat Stocks to Buy Now No Matter What Below are seven large-cap stocks to get out of your life now, before this all ends up in their next earnings reports. They're all F-rated in my Portfolio Grader. Large-Cap Stocks to Sell: Occidental Petroleum (OXY)Source: Shutterstock Occidental Petroleum (NYSE:OXY) is an integrated energy producer with exploration and production operations in the U.S., Colombia and the Middle East. It recently completed its $55 billion acquisition of Anadarko Petroleum. This deal left Occidental in debt when the company was forced to complete the payment in cash instead of stock. Now OXY has to divest all redundant business to get to the U.S. shale fields Anadarko owned.Add to this a slowing global economy, rising oil inventories and trouble in Venezuela -- Colombia's neighbor -- and you have a lot of headaches ahead.There's a reason OXY stock is off 23% this year and 40% in the past 12 months. FedEx (FDX)Source: Shutterstock FedEx (NYSE:FDX) is the well-known global shipping and logistics business. And it's having a rough go of it because of its far-flung empire.The U.S.-China trade war doesn't help and the strong dollar is a potential double whammy to its business since all revenue derived abroad is worth less when converted back to dollar terms. This is one of the big consequences facing U.S. companies doing business in China, especially now that China has lowered its yuan against the dollar.China's move has also lowered the Singapore dollar as well, since it trades in a close ratio to the yuan. In Europe, Brexit is hurting the British pound and most of the mainland is struggling with negative interest rates as their economies slow. * 10 Cyclical Stocks to Buy (or Sell) Now Add to that FedEx's recent announcement that it's ending its relationship with Amazon (NASDAQ:AMZN) and there's going to be some adjustment in expectations moving forward. Year-to-date, the stock is up less than 2%, and it's down 32% over the past year. Kraft Heinz (KHC)Kraft Heinz (NASDAQ:KHC) became the fifth-largest food company following its 2015 merger. But things haven't gone as expected.Over the past three years, the stock has been on a downward trajectory that at this point seems unstoppable. Kraft and Heinz used to be two bedrock consumer staples companies that owned some of the most iconic brands on supermarket shelves. But times have changed.Younger generations aren't as beholden to those brands and tastes and demographics have changed. As a new wave of non-European immigrants start to show their buying power, ketchup and mac and cheese are not the foundation of comfort foods they once were.While KHC stock still delivers an impressive nearly 5.7% dividend, it doesn't make up for a stock that dropped 34% year-to-date, and 53% in the past year -- as well as 68% in the past three years. Archer-Daniels-Midland (ADM)Source: Shutterstock Archer-Daniels-Midland (NYSE:ADM) is one of the largest publicly traded agricultural companies in the U.S. But this year hasn't been kind to farmers, and thus, to ADM.The latest escalation of the trade war saw China retaliate by swearing off all American agricultural products. Bear in mind, it took many years to establish the previous U.S.-China trade relationship.Now, China has leased land from Russia's far eastern region and is growing its own soybeans there. That isn't just a short-term fix, that's business that U.S. farmers may have lost forever.Add to that the flooding in the spring that made corn planting difficult -- if not impossible -- for Corn Belt farmers. But prices are still low and aren't helping farmers stabilize. The taxpayer-funded aid isn't a long-term solution and hardly covers the expenses many need to keep going. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates ADM stock feels all of this. The stock is off 6% year-to-date and 23% in the past year. ArcelorMittal (MT)Source: Shutterstock ArcelorMittal (NYSE:MT) is the world's largest steel producer. That's usually a good thing, since it can balance between mining operations for iron ore and steel production. But when there's not a lot of growth going on, industrial commodities is the first sector that gets hit.Recently, the prices of iron ore and coking coal -- the two main inputs in steelmaking -- have risen, making steel even more expensive to produce. Add to that waning demand and it's hard to make a buck.MT stock's second-quarter earnings tell the story. The company lost nearly $500 million in Q2 after writing down almost $1 billion in impairments. With growth projections falling around the world and the dollar strong, it's not a good place to be right now.Off 30% year-to-date and 52% in the past year, MT stock is not a good choice now or in the near future. AbbVie (ABBV)Source: Shutterstock AbbVie (NYSE:ABBV) owns the world's most profitable prescription drug, Humira. Now, Humira became off-patent in 2016, but you wouldn't know that from the sales. Advertising for the drug also continues unabated. Why? Because ABBV went to court in both the U.S. and E.U. to fight to keep biosimilars, drugs that are nearly identical, out of the market for another seven years.And while the case made its way through courts over a couple years, E.U. courts allowed biosimilars to remain on the market through late 2018. The U.S. courts gave Humira its dominance (and pricing power) until 2023.While AbbVie has a stable of solid drugs out there, it's hard not to see Humira as its chief breadwinner. And that status is waning. Add to this threats from U.S. consumers and politicians to transition to a more consumer-focused healthcare system where prescription drug cost prices will be better negotiated. * 10 Stocks to Buy on the Trade War Dip This is all part of the reason why AbbVie recently offered to buy out Allergan (NYSE:AGN) for a whopping $63 billion. However, that deal has yet to get approved, and it will take a while to assimilate the acquisition if it does.All of these are real risks. Ryanair (RYAAY)Source: Shutterstock Ryanair (NASDAQ:RYAAY) is the world-renowned, low-fare airline of Europe. While plenty of people have tried before to capture that market, RYAAY has had the most enduring success.But, the airline has come up against an immovable force that may not spell doom for the company, but certainly has chilled investors' enthusiasm. The airline has had to suspend about 30,000 flights because it was a big customer for Boeing's (NYSE:BA) 737 MAX 8 planes. When that model was taken out of the sky, it impacted many airlines. But RYAAY got hit significantly, since its entire business is ferrying people around Europe for bargain prices.It can't expand service now and the savings new jets would bring in efficiencies are no longer there. Those 30,000 flights represent five million passengers. Ryanair also has to cut back operations at airports and close some of its hubs.This is a significant disruption to an airline that was already running a business on thin margins and high volume. And there's still no sign when the airplanes will be cleared for take off.Off 13% year-to-date and 38% in the past 12 months, this stock is going to have trouble achieving cruising altitude for some time.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post 7 Large-Cap Stocks to Sell Right Now appeared first on InvestorPlace.
The deal will allow Oxy to make an early move on its Midland Basin assets while acting as a gateway to the north for Ecopetrol’s fracking ambitions.
Billionaire activist investor Carl Icahn appeared on CNBC on Thursday and discussed several important topics on Wall Street, including the Occidental Petroleum Corporation (NYSE: OXY ) buyout of Anadarko ...
Shareholders of Anadarko Petroleum Corp on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp , ending a short-lived contest that pitted two of the most storied names in the oil industry against one another. Occidental in May beat out Chevron Corp to grab a major oil industry prize: Anadarko's nearly quarter million acres in the Permian Basin, the top U.S. shale field, where low-cost output has helped turn the United States into the world’s top oil producer at more than 12 million barrels per day. Anadarko's shareholders voted 99% in favour of the deal that gives them $72.34 per share based on Wednesday's closing price for Occidental.
ANNOUNCES NEW BOARD OF DIRECTOR APPOINTMENTS HOUSTON , Aug. 8, 2019 /PRNewswire/ -- Today, Western Midstream Partners, LP (NYSE:WES) ("WES") announced senior management changes. Effective today, ...
Shareholders of Anadarko Petroleum Corp on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp , ending a short-lived contest that pitted two of the most storied names in the oil industry against one another. Occidental in May beat out Chevron Corp to grab a major oil industry prize: Anadarko's nearly quarter million acres in the Permian Basin, the top U.S. shale field, where low-cost output has helped turn the United States into the world’s top oil producer at more than 12 million barrels per day.
Occidental Petroleum Corporation (“Occidental” or “the Company”) (OXY) today announced the successful completion of its acquisition of Anadarko Petroleum Corporation (“Anadarko”) (APC) in a transaction valued at $55 billion, including the assumption of Anadarko’s debt. “With Anadarko’s world-class asset portfolio now officially part of Occidental, we begin our work to integrate our two companies and unlock the significant value of this combination for shareholders,” said Vicki Hollub, President and Chief Executive Officer.