Occidental Petroleum Corp
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Occidental Urges Shareholders to Vote Against Icahn’s Proposal
Investor Carl Icahn holds a $1.6 billion stake in Occidental Petroleum, and he’s not the least bit happy with OXY’s acquisition of Anadarko.
Why Morgan Stanley Has Slashed Oil’s Price Forecast
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Carl Icahn Says Occidental Is Treating Shareholders Like Peasants
Carl Icahn is now calling for a special shareholder meeting where he hopes to win board seats. On June 24, while discussing the Eldorado Resorts (ERI) and Caesars Entertainment merger (CZR), Icahn criticized the Occidental Petroleum (OXY) and Anadarko (APC) merger.
Carl Icahn Steps Up Attack on Occidental over Anadarko Deal
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Carl Icahn Is Going All Out against Occidental-Anadarko Deal
Last week, Icahn sued Occidental Petroleum to gain access to corporate records related to what he believes is a hugely overpriced deal to acquire Anadarko.
Occidental Petroleum Outperformed Oil-Weighted Stocks
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Oil Inventories Supporting the Energy Sector and Equity Market
In the week ending May 3, US crude oil inventories were on par with their five-year average—the same as the previous week.
Chevron Won’t Make a Counteroffer to Anadarko
Chevron (CVX) has decided not to make a counteroffer to Anadarko Petroleum (APC) in response to Occidental Petroleum’s (OXY) revised bid.
Anadarko Views Occidental’s Bid as Superior to Chevron’s Bid
On May 6, Anadarko Petroleum’s board of directors determined a revised bid from Occidental Petroleum to be superior to that of Chevron.
Could Occidental’s Offer for Anadarko Pit Buffett against Icahn?
Occidental Petroleum (OXY) has now made a more attractive offer for Anadarko Petroleum (APC).
Icahn Takes Stake in Occidental amid Bidding War for Anadarko
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Buffett Makes It Clear Occidental Wasn’t an Accidental Deal
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Will Berkshire Do More Deals Like Occidental Petroleum?
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Occidental Deal Could Energize Berkshire’s Performance
Berkshire Hathaway, which has an enviable track record versus the S&P 500 (SPY), is underperforming the markets this year.
Has Buffett Found a Solution to Berkshire’s Cash Woes?
On April 30, Berkshire Hathaway (BRK-B) announced that it would inject $10 billion in Occidental Petroleum (OXY).
OPEC’s Role in World Oil Production
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Occidental Petroleum: What to Expect from Its Q1 Earnings
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How the US Oil Supply Could Boost Oil Prices
On April 17, the EIA reported a fall of 1.396 MMbbls (million barrels) in US crude oil inventories in the week that ended on April 12.
ConocoPhillips: Analysts’ Recommendations and Target Price
Among the 21 analysts tracking ConocoPhillips, 38% recommended a “hold,” while 62% recommended a “buy.”
Futures Spread: Bullish Sentiments Fall for Oil
On April 15, the US crude oil May 2019 futures closed ~$2 above the May 2020 futures. On April 8, the futures spread was at a premium of $3.5.
What Fall in the Inventory Will Support Oil?
On April 17, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
These Big Names Were the Underperformers in the Upstream Space
In the first quarter of 2019, Anadarko Petroleum gained the least among the upstream stocks in the SPDR S&P Oil & Gas Exploration & Production ETF.
Oil Traders: Be Careful with Your Long Positions
The fall in the yield spread indicates concerns about the US economy’s growth rate. Oil prices might fall from the current levels.
UBS Raises Price Target for ConocoPhillips
Yesterday, UBS increased its price target for ConocoPhillips (COP) by $1 to $70.
Futures Spread: Oil Market Sentiments
On March 11, the US crude oil April 2019 futures closed ~$1.7 below the April 2020 futures. On March 4, the futures spread was at a discount of $1.8.
Analysts’ Ratings and Outlook for Occidental Petroleum
Of the 26 analysts tracking Occidental Petroleum (OXY), 69% recommend “buy,” 31% recommend “hold,” and none recommend “sell.”
What Might Impact Devon Energy’s Stock Prices?
Devon Energy (DVN) is expected to report its fourth-quarter earnings on February 19 after the market closes.
Will Anadarko Benefit from Its Production Mix Strategy in 2019?
In Q4 2018, crude oil sales accounted for 58% of APC’s total sales volume. In 2019, the oil sales volume as a percentage of total sales might vary between 57.6% and 58.8%.
Will US Crude Oil Maintain the $54 Level on February 5?
On February 4, US crude oil prices fell 1.3% and settled at $54.56 per barrel. US crude oil active futures made an intraday high of $55.75.
ConocoPhillips Stock Rises following Its Q4 Earnings Results
On January 31, ConocoPhillips (COP) reported adjusted EPS of $1.13 for the fourth quarter, a fall of 17% on a sequential basis.
Oil Might Push Hess’s EPS into Negative Territory
Hess Corporation (HES) is scheduled to report its fourth-quarter earnings results on January 30.
A Small Fall in Inventories Could Be a Big Push for Oil Prices
In the week ended January 11, US crude oil inventories were 8% higher than their five-year average—the same as the previous week.
ConocoPhillips: Oil Prices Might Hurt the Cash Flow
For 2019, ConocoPhillips’ total planned capital expenditure was $6.1 billion. The capital expenditure is achievable.
ConocoPhillips’ Earnings Might Fall ~28% in Q4 2018
ConocoPhillips’ (COP) adjusted EPS might fall ~28% in the fourth quarter on a sequential basis based on analysts’ consensus estimate.
Why Certain Oil-Weighted Stocks Outperformed Last Quarter
In the fourth quarter, our list of oil-weighted stocks fell 44.2%—compared to the 39.7% fall in US crude oil February futures.
A Large Fall in EIA Data Might Help Oil Prices to Rise
In the week ending on December 21, US crude oil inventories were 7% higher than their five-year average—unchanged from the previous week.
Measuring Oil-Weighted Stocks’ Alignment with Oil
Occidental Petroleum reported a double-digit rise on December 26 with a rise of 8.7% in US crude oil prices.
Oil-Weighted Stocks: Gains and Losses
On December 12–19, our list of oil-weighted stocks fell 12.9% compared to the 6.2% fall in US crude oil February futures.
Why These Upstream Big Fishes Outperformed Peers Last Week
Between December 7 and 14, EQT Corp (EQT) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 7.8%.
US Crude Oil near $50: No Impact on Some Oil-Weighted Stocks
On December 12, US crude oil January futures fell 1% and closed at $51.15 per barrel.
How’s Devon Energy Positioned with Oil at $50?
Devon Energy (DVN) isn’t expected to report a positive FCF (free cash flow) in the fourth quarter.
Why Devon Energy Fell in November
In November, Devon Energy (DVN) fell 16.6%—the biggest decline on our list of upstream stocks.
Goldman Sachs: Trump’s Love for Cheap Oil Could Cost Oil Drillers
Jeff Currie, Goldman Sachs’ (GS) commodities’ head, told CNBC that oil’s fall to $50 will hurt US oil producers.
What to Expect from Oil-Weighted Stocks
On November 21, US crude oil January futures rose 2.2% and closed at $54.63 per barrel.
ConocoPhillips: Jim Ratcliffe Eyes Assets in the United Kingdom
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe.
XOP Is Underperforming Other Energy ETFs
On November 12–19, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among major energy ETFs.
Oil Might Have Dragged Oil-Weighted Stocks
On November 7–14, our list of oil-weighted stocks fell 11.2%—compared to the 8.8% fall in US crude oil December futures.
ConocoPhillips’ Free Cash Flow Has Strengthened in 2018
ConocoPhillips (COP) has strengthened its FCF (free cash flow) in the past one year.
Will ConocoPhillips Continue to Deliver amid Oil’s Turbulence?
As of November 12, Brent crude oil active futures had fallen 18.3% from their almost four-year high of $86.29 per barrel on October 3.
Upstream Space Might See Upside This Week
On November 2–9, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 0.6%—the least among major energy ETFs.
Have Oil-Weighted Stocks Diverged from Oil’s Fall?
On October 31–November 7, our list of oil-weighted stocks rose 3.4%—compared to the 5.6% fall in US crude oil December futures.
Inventory Data Might Make Oil Bears Happy
In the week ended October 19, US crude oil inventories were 2% above their five-year average, which is the same as the previous week.
Why Have Oil-Weighted Stocks Fallen?
On October 17–24, our list of oil-weighted stocks fell 13.8%—compared to the 4.1% fall in US crude oil December futures.
Which Oil ETFs Outperformed US Crude Oil Last Week?
On October 12–19, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) fell 2.6% and 1.8%, respectively.
Geopolitical Turmoil: US Crude Oil Might Stay near to $70
On October 12–19, US crude oil December futures fell 2.7% and closed at $69.28 per barrel on October 19.
ConocoPhillips Is in Fifth Place in Terms of Cash Flow Growth
ConocoPhillips, the largest independent US exploration and production company by market cap, is in fifth place in terms of cash flow from operations growth.
Upstream Stocks Saw Massive Profit-Booking Last Week: What Now?
Upstream energy stocks saw massive profit-booking last week after rising for the fourth consecutive week.
Futures Spread: Are Oil’s Bullish Sentiments Declining?
On October 8, the futures spread was at a premium of ~$2.2. On October 8–15, US crude oil November futures fell 3.4%.
What Drove Upstream Energy Stocks Last Week?
In the week ending October 5, upstream energy stocks rose for the fourth consecutive week. XOP rose 0.8% last week.
Upstream Stocks Might Continue to Build on Last Week’s Gains
In the week ending September 28, upstream energy stocks continued their winning streak for the third consecutive week.
Upstream Stocks Continued Their Winning Streak Last Week
In the week ending September 24, upstream energy stocks continued their winning streak for the second consecutive week.
Oil Boosts Oil-Weighted Stocks’ Gains
In the trailing week, Hess and Diamondback Energy had correlations of more than 76% with US crude oil November futures.
Upstream Stocks Saw Strong Buying Last Week
Upstream energy stocks saw strong buying in the week ending September 14 amid sharp gains in crude oil prices. US crude oil went above $70 per barrel.
Analysts’ Ratings: APC Wins the Most ‘Buy’ Recommendations
Among the four upstream companies we’re looking at in this series, Anadarko Petroleum (APC) has received the most “buy” (82.9%) recommendations from analysts covering the stock.
EOG Sees the Most Institutional Investment among Peers
Capital World Investors added a major position in ConocoPhillips (COP) during the second quarter, buying 19.6 million COP shares for $1.4 billion.
Which Upstream Stock Is the Least Volatile?
Among the four peers, Occidental Petroleum has been the least volatile, with a 200-day volatility metric of 21% as of September 13.
Comparing COP’s, EOG’s, OXY’s, and APC’s Technical Indicators
As of September 13, ConocoPhillips (COP) and EOG Resources (EOG) were trading above their 200-day moving averages, while Occidental Petroleum (OXY) and Anadarko Petroleum (APC) have recently fallen below their long-term moving averages.
What COP’s, EOG’s, OXY’s, and APC’s Current Valuation Indicates
Anadarko Petroleum (APC) has the lowest forward price-to-CFFO multiple among the selected peers, of 4.9x, which is below its historical average of 7.6x.
Why ConocoPhillips Is Outperforming Peers This Year
US independent upstream companies have been volatile recently.
A Look at the Four Biggest Upstream Companies’ Capex Plans
This year, ConocoPhillips (COP) expects its capital expenditure to rise 30.7% YoY (year-over-year), to $6.0 billion from $4.6 billion.
COP, EOG, OXY, APC: Which Generated the Highest Free Cash Flow?
In the second quarter, ConocoPhillips’s adjusted EBITDAX grew 108.4% YoY (year-over-year), the most among peers.
Which Upstream Company Expects the Highest Production Growth
In Q2 2018, EOG Resources (EOG) saw the highest YoY (year-over-year) production growth among peers.
EOG Sees the Largest Increase in Proven Reserves among Peers
Between 2016 and 2017, ConocoPhillips’ (COP) total proven reserves, including equity affiliates, fell 21.6% to 5,038 MMBoe (million barrels of oil equivalent), of which 47.7% were oil and 39.3% were natural gas.
COP, EOG, OXY, APC: The Largest Independent Upstream Companies
In this series, we’ll compare the four largest independent E&P (exploration and production) players by market capitalization.