Occidental Dilutes Icahn to Pay Buffett as Debt Woes Mount [Yahoo! Finance News]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Yahoo! Finance News
) -- Occidental Petroleum Corp. is paying a special dividend to Warren Buffett in shares rather than cash, diluting investors including activist billionaire Carl Icahn as the indebted shale explorer grapples with oil’s collapse.The Houston-based oil producer issued common shares worth about $257 million to honor a quarterly payout on Berkshire Hathaway Inc.’s preferred stock, according to a filing Wednesday. Occidental had been paying cash since Buffett invested $10 billion last year to help fund the company’s $37 billion takeover of Anadarko Petroleum Corp., demanding an 8% annual dividend.Chief Executive Officer Vicki Hollub survived a bitter 10-month campaign by Icahn to seize control of the company by granting him board seats and corporate governance changes. But as the Covid-19 pandemic destroys demand for crude and strips producers of cash, her most immediate challenge is to tackle the debt pile Occidental accrued last year to beat Chevron Corp. in the bidding war for Anadarko.W
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OXY
News
- We Asked a Year Ago If You Should Buy Buffett's Favorite Oil Stock. Here's What Happened. [Yahoo! Finance]Yahoo! Finance
- Occidental Announces Total Consideration for its Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes and DebenturesGlobeNewswire
- Occidental Petroleum (OXY) had its price target raised by Piper Sandler from $47.00 to $54.00. They now have a "neutral" rating on the stock.MarketBeat
- Occidental Petroleum (OXY) had its price target raised by UBS Group AG from $49.00 to $55.00. They now have a "neutral" rating on the stock.MarketBeat
- Occidental Announces Early Tender Results and Upsize in Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes and DebenturesGlobeNewswire
OXY
Earnings
- 2/18/26 - Miss
OXY
Sec Filings
- 3/3/26 - Form 4
- 3/3/26 - Form 4
- 3/3/26 - Form 4
- OXY's page on the SEC website