Corporate insiders own 0.21% of the company's stock. The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. 326 E 8th St #105, Sioux Falls, SD 57103 | [email protected] | (844) 978-6257 Add in about $15 billion in assumed debt and the total price comes to $53 billion. Over the past 12 months Oxy has paid $3.12 in dividends, and this month raised the quarterly payout by a penny. The business is expected to announce its next earnings report after the market closes on Monday, November 9th. (Photo by Michael Kovac/Getty Images). Looking for new stock ideas? The company has returned to the market most of the U.S. barrels it curtailed during the spring oil price crash, Hollub said. World Asset Management Inc now owns 56,775 shares of the oil and gas producer's stock worth $568,000 after purchasing an additional 4,178 shares during the period. The $10 billion from Berkshire enables Hollub to boost the cash portion of the deal from 50% to 78%. The oil and gas producer reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.08). MarketBeat does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Receive a free world-class investing education from MarketBeat. With the acquisition of Anadarko, we are the: #1 in carbon dioxide enhanced oil recovery projects, Top three producer of PVC, chlorine and caustic soda. In the bidding war with Chevron, Oxy needed to top Chevron’s bid. And then, perhaps, Chevron will get another bite at the apple. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Learn everything you need to know about successful options trading with this three-part video course. At a recent $52.50, Oxy shares are down 25% from earlier this year, in line with most oil companies. Occidental’s success is built on strong partnerships, technical expertise and a proven ability to deliver superior operational results. Occidental Petroleum Corp. Report this profile; Experience. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. And with a very high profile proof of concept, therapeutics may have had their moment. In her own letter to shareholders today, Hollub reiterated her promise to deliver $3.5 billion a year in cost and operational synergies. Hollub, in her own letter Monday, told shareholders that Icahn’s “own statements demonstrate that he does not understand or support the strategic and financial merits of the acquisition and we believe that his Board nominees would interfere with our ability to successfully integrate Anadarko’s valuable assets, execute our divestiture and deleveraging plan and deliver on the full promise of this acquisition at this critical juncture.”. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, August 10th. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Identify stocks that meet your criteria using seven unique stock screeners. We do this with an integrated business model that combines world-class assets and leadership in advancing a lower-carbon future. In a letter Monday to the shareholders of Occidental Petroleum, billionaire activist investor Carl Icahn renewed his attack on CEO Vicki Hollub. The company had revenue of $2.98 billion for the quarter, compared to analysts' expectations of $3.85 billion. That’s a quadrupling of Oxy’s debt against only a 20% increase in share count. Last week someone commented to me that Chevron could now buy Occidental Petroleum for less money than it offered to acquire Anadarko. All Rights Reserved, This is a BETA experience. Our overall strategy is to invest in projects that generate long-term value, achieving returns well above our cost of capital. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream. Occidental's Midstream and Marketing segment purchases, markets, gathers, processes, transports, and stores oil, condensate, natural gas liquids, natural gas, CO. As a company, we work hard to ensure that Occidental consistently merits the confidence of our investors, partners and other stakeholders around the world. The oil and gas producer reported ($1.76) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.08). Icahn’s position is down some $300 million in recent months, to about $1.7 billion. Export data to Excel for your own analysis. Start Your Risk-Free Trial Subscription Here, PetMed Express (NASDAQ:PETS) Is A High-Yield Value For Income Investors, Hasbro (NASDAQ:HAS) Reports Earnings, It’s Time To Go Toy Shopping. As Icahn has said in court filings, “Occidental’s biggest mistake, however, has to be the board’s and management’s failure to understand (or willful rejection of the fact) that at present market prices Occidental should have been a seller—not a buyer.”. Icahn’s solicitation was matched Friday with a filing from Oxy management encouraging shareholders to not just ignore Icahn, but also to send in a proxy revocation form, just to make it clear that they hadn’t given their vote to Icahn or anyone else. Warren Buffett took Hollub "to the cleaners" on the terms of $10 billion in financing, says Icahn. Our core U.S. operations are in the Permian Basin of West Texas and southeast New Mexico, where we have significant acreage and are the largest oil producer, and in the DJ Basin in Colorado. Internationally, our core operations are in Oman and the United Arab Emirates in the Middle East, Algeria in Africa and Colombia in Latin America, where we are regarded as a premier partner. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. The company was founded in 1920 and is headquartered in Houston, TX. Occidental’s success is built on strong partnerships, technical expertise and a proven ability to deliver superior operational results. Learn about financial terms, types of investments, trading strategies and more. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. We work together and collaborate with the Oxy community as we strive to: Deliver Excellence in Service.We are called Information Technology Services for a reason. There is … Join to Connect. Occidental Petroleum had a negative return on equity of 8.97% and a negative net margin of 54.47%. We are committed to conducting our business in a manner that safeguards our employees, protects the environment, benefits neighboring communities and strengthens local economies. No wonder Icahn is worried about the health and safety of Oxy’s dividend, which he considers “one of the prime reasons” to own shares. If he gets past that obstacle, Icahn can then move to solicit shareholders for their proxy — or permission for his team to vote their shares as part of a unified block. Occidental Petroleum expects oil and gas output to dip in the second half of the year and will not boost production until it "significantly" reduces debt, Chief Executive Vicki Hollub said on Tuesday. For the next financial year, analysts expect that the company will post sales of $17.74 billion, with estimates ranging from $16.23 billion to $18.93 billion. Performance. Change value during other periods is calculated as the difference between the last trade and the most recent settle. The ex-dividend date was Monday, September 14th. Time will tell whether it’s a great deal for Hollub as well.”. See what's happening in the market right now with MarketBeat's real-time news feed. Is It Time To Add Boeing (NYSE: BA) Into Your Q4 Portfolio? We take particular pride in Occidental's safety record, which is exemplary not only in the oil and gas and chemicals industries, but compared to any industry sector. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that that provide coverage for Occidental Petroleum. Hollub has promised to not just maintain the dividend but grow it, despite nearly 20% more shares to service. Get a free copy of the Zacks research report on Occidental Petroleum (OXY), For more information about research offerings from Zacks Investment Research, visit Zacks.com, This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. If therapeutics nudge ahead of a vaccine, these stocks are likely to make strong upward moves. Social responsibility is fundamental to our success and reputation as a respected Partner of Choice®. The company has a market cap of $9.32 billion, a P/E ratio of -0.71 and a beta of 1.87. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company's stock. According to FINRA data, Chevron’s long term bonds are trading at a yield of 2.4%.
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