|Bid||17.80 x 1300|
|Ask||17.80 x 1100|
|Day's range||17.61 - 18.63|
|52-week range||9.00 - 54.05|
|Beta (5Y monthly)||1.94|
|PE ratio (TTM)||N/A|
|Earnings date||29-Jul-2020 - 03-Aug-2020|
|Forward dividend & yield||0.04 (0.22%)|
|1y target est||15.10|
Investors need to pay close attention to Occidental (OXY) stock based on the movements in the options market lately.
The financially challenged oil company sold $2 billion in high-yield bonds to help refinance some of its near-term debt maturities.
Occidental Petroleum (OXY) closed at $17.86 in the latest trading session, marking a +0.96% move from the prior day.
Additionally, Occidental announced that it had conditioned its obligation to accept for purchase and to pay for any of the Notes in the Tender Offers on the completion by Occidental of a registered offering (the “Concurrent Offering”) of senior unsecured debt securities that results in net proceeds of at least $1,950 million, an increase from the previously announced condition that required such Concurrent Offering to result in net proceeds of at least $1,475 million, on terms and subject to conditions reasonably satisfactory to Occidental (as amended herein, the “Financing Condition”). The Tender Offers are being made upon the terms and conditions described in Occidental’s Offer to Purchase and Consent Solicitation Statement, dated June 25, 2020 (the “Offer to Purchase”), as amended by this press release.
Occidental Petroleum Corporation (OXY) today announced that its Board of Directors has declared a distribution to holders of its common stock of warrants to purchase additional shares of common stock. Holders of Occidental common stock will receive 1/8th of a warrant for each share of common stock held as of the record date, and each warrant will entitle the holder to purchase one share of Occidental common stock for a purchase price of $22 per share.
Occidental Petroleum expects to book after-tax impairments of up to US$9 billion of its oil and gas assets in the second quarter due to the collapse in oil prices earlier this year
Occidental will once again pay Berkshire Hathaway Inc, which last year bought $10 billion worth of its preferred shares to help acquire Anadarko Petroleum, in stock dividend instead of cash on June 30. The beleaguered oil and gas producer has been struggling to deal with the nearly $40 billion of debt it took on to buy Permian focused rival Anadarko last year, an ill-timed bet on rising oil prices.
HOUSTON, June 25, 2020 -- Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY) today announced that it has commenced offers to purchase for cash (collectively, the.
Occidental Petroleum said it would write down the value of its oil and gas assets by up to $9bn as the heavily indebted company prepared for a lengthy period of weak crude prices. The US’s biggest onshore oil producer said on Thursday that it anticipated recognising an after-tax impairment charge of between $6bn and $9bn in its second-quarter results. Analysts have said they expect a wave of such impairments by oil producers reaching up to $300bn this year as they contend with the fallout from the worst oil-price crash in decades.
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Oil prices are in rally mode today. WTI, the main U.S. oil price benchmark, was up 4.5% to about $39 a barrel by 10:15 a.m. EDT on Friday. Fueling the rebound in crude prices was a report that OPEC and its partners had agreed to extend their historic production cut by another two months.
The oil industry has been flipped on its head over the last few months as economic shutdowns around the world have caused demand to plummet by around 20%. For a short time, oil futures prices even went negative in the U.S. because there was more supply than demand. Producers and suppliers in the oil market are trying to cut costs and adjust finances as quickly as possible, but not everyone will survive.
Glancy Prongay & Murray LLP, a National Class Action Law Firm, Announces Investigation of Occidental Petroleum Corporation on Behalf of Noteholders