13.03 +0.06 (0.46%)
After hours: 5:26PM EDT
|Bid||12.96 x 4000|
|Ask||13.02 x 1100|
|Day's range||12.72 - 13.54|
|52-week range||9.00 - 54.05|
|Beta (5Y monthly)||2.02|
|PE ratio (TTM)||N/A|
|Earnings date||29 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||0.44 (3.23%)|
|Ex-dividend date||09 Mar 2020|
|1y target est||14.98|
HOUSTON, May 29, 2020 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared a regular quarterly dividend of $0.01 per share on.
Occidental Petroleum Corp <OXY.N> has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion (29 billion pounds) to acquire Anadarko Petroleum Corp. The proposed securities class action was filed late Tuesday in a New York state court in Manhattan on behalf of former Anadarko shareholders who swapped their stock for Occidental shares, and investors who acquired $24.5 billion of Occidental bonds that helped fund the August 2019 merger. Investors said Occidental should have disclosed in its stock and bond registration statements how quadrupling its debt load to $40 billion would leave it "precariously exposed" to falling oil prices, and undermine its ability to boost shale oil production and its common stock dividend.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. It's Thursday, May 21st, and I'm your host Nick Sciple, joining me once again is Motley Fool contributor, Jason Hall. Jason Hall: Running it live right now, buddy; I'm looking at Bloomberg Energy right now.
Halliburton (HAL) told investors it is cutting its dividend by 75%, while National Oilwell Varco (NOV) board suspended the quarterly payout indefinitely to retain cash in the business.
The oil price collapse is forcing potential buyers of oil and gas fields to try and renegotiate deals or otherwise abandon them entirely
Occidental Petroleum's (NYSE: OXY) deal to sell its assets in Ghana to French oil giant Total (NYSE: TOT) has unraveled. Total called off the planned transaction after it wasn't able to acquire Occidental's assets in Algeria, which was a condition of the deal. Occidental initially planned to flip its entire African portfolio to Total following its acquisition of Anadarko Petroleum for $8.8 billion.
The Zacks Analyst Blog Highlights: EOG Resources, Occidental Petroleum, ExxonMobil, Chevron and BP
In August 2019, Total and Occidental entered into a Purchase and Sale Agreement in order for Total to acquire Anadarko’s assets in Africa. Under this agreement, Total and Occidental have since completed the sale and purchase of the Mozambique and South Africa assets. The purchase and sale agreement provided that the sale of the Ghana assets was conditional upon the completion of the Algeria assets’ sale.
Total <TOTF.PA> has called off a plan to acquire Occidental Petroleum's <OXY.N> assets in Ghana, which was conditional on the completion of the acquisition of Occidental's other assets in Algeria, the French energy company said on Monday. The deal was part of an $8.8 billion (7.2 billion pounds) agreement reached between Total and Occidental to over Anadarko's assets in Mozambique, Ghana, Algeria, and South Africa.
Occidental Petroleum's (NYSE: OXY) ambitious plan to pay off the debt it took on to acquire Anadarko Petroleum has encountered many obstacles. Not only has it been unable to close some asset sales, but plummeting crude oil prices took asset values with them, which will make it impossible to achieve the company's target. Occidental Petroleum initially anticipated that it could net $15 billion from selling assets following the acquisition of Anadarko Petroleum.
Fracking activity in the U.S. has plunged as a result of ultra low oil prices and covid-19, and the number of operations may hit rock bottom in May 2020
Occidental bet heavily on the continued growth in U.S. shale oil, taking on heavy debts for its controversial purchase of Anadarko Petroleum last year for $38 billion. Energy companies worldwide, including Exxon Mobil Corp and Royal Dutch Shell PLC, have slashed capital expenditures and oil output to reckon with the pandemic. Houston-based Occidental last week posted a $2 billion quarterly loss and has slashed capital spending drastically to shore up its balance sheet.
Despite the highest rate of unemployment since the great depression, oil prices continued to rally on some positive news from the U.S. and China
Image source: The Motley Fool. Enable Midstream Partners LP (NYSE: ENBL)Q1 2020 Earnings CallMay 6, 2020, 10:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day and welcome to the Enable Midstream Partners First Quarter 2020 Conference Call and Webcast.
Shares of Occidental Petroleum(NYSE: OXY) tumbled more than 10% by 3 p.m. EDT on Wednesday. Weighing on the oil company were its weak first-quarter results and its struggles to manage its lofty debt load amid crashing crude oil prices. Occidental Petroleum posted a steep loss during the first quarter.
KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by current and former employees and investors of Occidental Petroleum Corporation (NYSE:OXY) ("Occidental Petroleum") who held large, unhedged concentrated positions in Occidental Petroleum stock and/or received margin calls resulting in the forced sale of stock. The recent losses were the result of unsuitable advice during the Coronavirus ("COVID-19") pandemic. The investigation focuses on full-service brokerage firms’ negligence and failure to supervise the management of concentrated, leveraged positions in Occidental Petroleum stock.
Algeria has agreed to maintain Anadarko's contract with state firm Sonatrach, and Occidental Petroleum Corp <OXY.N> will continue investment in the OPEC member country, the energy ministry said on Wednesday. Algeria has blocked Occidental Petroleum's deal to sell Anadarko assets in the country to France's Total . Occidental Petroleum has informed the ministry of its new strategic approach and its "commitment to continuing Anadarko Algeria Corporation activities in Algeria," and it will seek new partnership opportunities, the statement said.
Occidental's (OXY) first-quarter revenues surpass the Zacks Consensus Estimate. The company withdraws its 2020 guidance on account of market disruption caused by COVID-19.
Occidental Petroleum Corp <OXY.N> said on Wednesday it is looking at a series of options to shore up its impaired balance sheet, including raising cash or refinancing debt, a day after posting a $2 billion loss. Energy companies worldwide, including Exxon Mobil Corp <XOM.N> and Royal Dutch Shell PLC <RDSa.L>, have slashed capital expenditures and oil output to reckon with the collapse in fuel demand due to the coronavirus pandemic. Asset sales planned to reduce debt from the Anadarko acquisition in Africa have been sidetracked, and it soon may be forced to cut the value of those and other properties due to the crash.