The real price of Occidental's 'costless' oil hedge [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
By Devika Krishna Kumar and David French ) - In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterised the transaction as "costless" but a review of regulatory filings, market data and interviews shows that's not the whole story. The aim of the complex financial maneuver, the company said, was to help preserve Occidental's generous dividend to shareholders as it sought to take over rival Anadarko Petroleum for $38 billion last summer in the biggest industry deal for years. "With the additional leverage from the Anadarko acquisition, these new hedges will strengthen our 2020 cash flow in a low oil price environment, and provide additional assurance that our dividend is safe, while we are deleveraging," Occidental's Chief Financial Officer Cedric Burgher told an earnings call in August. However, to secure the hedge swiftly and discreetly and to avoid paying its bankers a fee for arra
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News
- Occidental Petroleum (OXY) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- Occidental Stock Is Still Quite Undervalued [Seeking Alpha]Seeking Alpha
- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Susquehanna from $70.00 to $81.00. They now have a "positive" rating on the stock.MarketBeat
- With 52% ownership of the shares, Occidental Petroleum Corporation (NYSE:OXY) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Looking for Once-in-a-Generation Investment Opportunities? Here Are 3 Magnificent Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website