How To Make Money On Sickly Bonds [Forbes]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Forbes
Francis Rodilosso’s fund of fallen angels buys what others have to sell and sells what others have to buy.AFrancis Rodilosso runs the Van Eck Fallen Angel High Yield Bond ETF. For this $2.8 billion portfolio, he mechanically buys bonds as soon as they get downgraded from high-quality to junk and sells any that get upgraded from junk to high-quality. This is precisely the opposite of what any prudent manager of an “investment grade” bond portfolio does.In the fallen angel junk pile: debt from such outfits as Bed, Bath & Beyond, Royal Caribbean Cruises and Transocean. Yuck.But now look at the results. Over the past decade Rodilosso’s junk fund has averaged an annual return of 5.8%. The Vanguard Total Bond Market exchange-traded fund, which sticks to high-quality credits, has eked out only 1.4% a year.FALLEN ANGEL YIELDSThe average yield to maturity of bonds that started out with good credit ratings and then slumped in quality is now fairly high, at 7.5%. But the 3.4% yield advantage ove
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News
- Occidental Petroleum (OXY) Stock Moves -0.36%: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Wells Fargo & Company from $62.00 to $70.00. They now have an "equal weight" rating on the stock.MarketBeat
- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Mizuho from $69.00 to $70.00. They now have a "neutral" rating on the stock.MarketBeat
- Occidental Petroleum Co. (NYSE: OXY) was upgraded by analysts at Scotiabank from a "sector perform" rating to a "sector outperform" rating. They now have a $90.00 price target on the stock.MarketBeat
- Occidental Petroleum Co. (NYSE: OXY) is now covered by analysts at Barclays PLC. They set an "equal weight" rating and a $73.00 price target on the stock.MarketBeat
OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- 3/21/24 - Form DEF
- OXY's page on the SEC website