Occidental Petroleum Corp
Carl Icahn’s Love for Occidental Petroleum Might Be Costly
Last week, Carl Icahn’s hedge fund filed its 13F for the first quarter of 2020. Occidental Petroleum was one of the hedge fund’s largest buys.
Top Oil-Producing Companies’ Stock Prices Fall
Looking at the top US-listed oil-producing companies’ stock prices, ExxonMobil, BP, and Chevron have fallen by 40.5%, 41.6%, and 31.5% in 2020.
How Does the Oil Price Crash Impact Warren Buffett?
For the first time, WTI crude prices fell into the negative zone during trade on Monday. Warren Buffett invested in Occidental Petroleum last year.
These Are the Top 5 Upstream Energy Dividend Stocks
Investors’ preference for top dividend stocks could increase in 2020. Among sector-specific ETFs, the Energy Select Sector SPDR ETF reigns supreme.
Tesla Institutional Investors: Who All Sold Too Early?
In 2019, Tesla (TSLA) rose 29.3%. The S&P 500 Index gained 29.2%. The top institutional investors were bullish on the electric car manufacturer in Q3 2019.
S&P 500 Stocks: Analysts Bullish on Diamondback
Diamondback Energy (FANG) has the second-highest percentage of “buy” ratings among the constituents of the S&P 500 Index (SPY). Here’s why.
More Trouble for Cabot Oil & Gas in 2020?
In 2019, Cabot Oil & Gas (COG) has fallen 22%. The company has a correlation of 34.6% and 7.6% with natural gas and crude oil prices, respectively.
Baker Hughes: A Look Into Its Institutional Holdings
Yesterday, Baker Hughes stock rose by 0.2%, with a year-to-date rise of 3.9%. We’ll focus on the company’s institutional investors in Q3 2019.
D.E. Shaw & Co.: Where Is David Shaw Bullish?
At the end of Q3 2019, D.E. Shaw & Co.’s total portfolio of publicly traded securities was worth around $81.2 billion.
Chesapeake: Gauging Institutional Investors’ Stance in Q3
In this article, we will look at Chesapeake’s top institutional investors’ activities in Q3 2019 and its top institutional sellers and exits.
Upstream Stocks: The Top Movers of 2019
In 2019 so far, upstream energy companies Hess Corporation (HES) and Noble Energy (NBL) have risen 61.8% and 15.1%, respectively.
Carl Icahn: Analyzing Q3’s Top Buys
On November 14, Carl Icahn’s Icahn Capital Management filed its form 13F. In the third quarter, it included two new stocks.
Occidental Petroleum Earnings and Icahn versus Buffett
On November 4, Occidental Petroleum (OXY) released its Q3 earnings after markets closed. The battle between Carl Icahn and Warren Buffett is heating up.
Will Carl Icahn’s Fears Come True in October?
Carl Icahn’s fears could come true in October. According to Goldman Sachs, the market might exhibit higher volatility next month.
Energy Stocks: Operational Metrics, Valuation, Outlook
Production volumes, production costs, and finding and development costs are key metrics to consider when analyzing energy stocks’ upstream operations.
Cloudera Gives Two Board Seats to Icahn in Settlement
Carl Icahn has agreed to limit his ownership of Cloudera stock to 20% and not nominate any directors for the 2020 annual meeting.
Cloudera Stock Surges on News of Icahn’s Stake
Yesterday, Carl Icahn revealed his 12.6% stake in data analytics company Cloudera (CLDR), causing its shares to jump.
Could Inventory Data Surprise Oil Traders?
Tomorrow, the EIA (U.S. Energy Information Administration) is set to report inventory data for last week (ended July 26).
Carl Icahn Gets Initial Support in Fight against Occidental
Carl Ichan is in the middle of an ugly boardroom battle with Occidental Petroleum (OXY).
Carl Icahn and Occidental’s Board Battle Gets Ugly
On Monday, Occidental Petroleum sent a letter to its shareholders. The letter urged them to ignore Carl Icahn’s proposal.
Midstream Stocks Were the Top Gainers in Energy Sector
Last week, midstream stock Holly Energy Partners (HEP) outperformed other companies in the energy space.
Icahn Launches Proxy Fight Against Occidental
Activist investor Carl Icahn formally launched a proxy fight against Occidental Petroleum (OXY) on Thursday. Icahn disclosed a stake in Occidental as the company was locked in a bidding war with Chevron over Anadarko Petroleum. Afterward, Occidental won its bid for Anadarko with help from Berkshire Hathaway’s Warren Buffett. Sues Occidental In May, Icahn sued […]
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
On July 2, Morgan Stanley (MS) reduced its long-term price forecast for Brent crude oil by $5 to $60 per barrel.
OPEC Could Extend the Output Cut: Will Oil’s Rise Continue?
At 7:12 AM ET on July 1, US crude oil active futures were trading 2.2% higher compared to last week. Energy stocks might open higher on July 1 due to oil’s gains.
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
Icahn is seeking to replace four Occidental directors. He believes that the board mismanaged its $38 billion deal to buy Anadarko Petroleum. He also said that the company’s pending deal implies a lack of “effective corporate governance” and is seeking to change the company’s charter to prevent it from doing a similar takeover again.
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
On May 22–29, our list of oil-weighted stocks fell 7.2%—compared to the 4.2% fall in US crude oil July futures.
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
Carl Icahn has built a small stake in Occidental Petroleum amid OXY’s bidding war for Anadarko Petroleum (APC).
Buffett Makes It Clear Occidental Wasn’t an Accidental Deal
Last week, Berkshire Hathaway (BRK-B) announced that the company would pump $10 billion into Occidental Petroleum (OXY).
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.
OPEC’s Role in World Oil Production
OPEC (the Organisation of the Petroleum Exporting Countries) aims to “coordinate and unify the petroleum policies of its Member Countries.”
Occidental Petroleum: What to Expect from Its Q1 Earnings
Occidental Petroleum (OXY) is scheduled to announce its first-quarter results on May 6.
Why Apache’s Earnings May Halve in Q1 2019
Apache (APA) is set to announce its first-quarter results on May 1. Analysts expect its adjusted EPS to fall ~52% sequentially in the quarter.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
EOG Resources Is the Second Least Volatile E&P Stock
EOG Resources (EOG) ranks second among E&P stocks in terms of volatility.
Here Are the Five Least Volatile Exploration & Production Stocks
The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) had a 200-day volatility of 27.6% as of August 29.
Institutional Investors’ Views on Occidental Petroleum
Fidelity Management & Research and Two Sigma Investments were Occidental Petroleum’s (OXY) biggest buyers during the second quarter, buying 4.2 million and 3.9 million shares, respectively.
Where US Crude Oil Prices Could Close Next Week
On August 9, US crude oil’s implied volatility was 23.1%, which was ~1.3% below its 15-day average.
Are Institutional Investors Buying CNX Resources Stock?
In Q1 2018, 140 funds bought CNX Resources (CNX).
Understanding EOG Resources’ Q2 2018 Production Guidance
For the second quarter, EOG Resources expects total production in the range of 670.3–706.2 Mboepd (thousand barrels of oil equivalent per day).
Analyzing EOG Resources’ Q2 2018 Revenue Expectations
For the second quarter, Wall Street analysts expect EOG Resources (EOG) to report revenue of ~$3.91 billion.
Wall Street’s Recommendations for Oasis Petroleum Stock
Approximately 69% of the analysts surveying Oasis Petroleum (OAS) have rated it as a “buy,” and the remaining 31% have rated it as a “hold.”
Are Institutional Investors Selling Marathon Oil Stock?
In Q1 2018, 265 funds were “buyers” of Marathon Oil (MRO) stock, either creating new positions or adding to existing positions.
Analyzing Marathon Oil’s Dividend and Dividend Yield
MRO paid its last dividend on June 11. The dividend, which was its dividend payment for Q2 2018, was $0.05 per share on its common stock.
Can Marathon Oil Report Higher Profits in Q2 2018?
Marathon Oil (MRO) is set to report its Q2 earnings on August 1. Excluding one-time items, the net income estimate is ~$161 million.
What Analysts Expect for Oasis Stock in the Next 12 Months
Approximately 69% of the analysts covering Oasis Petroleum (OAS) have rated it as a “buy,” and the remaining 31% have rated it as a “hold.”
Will Devon Energy’s Production Increase in Q2 2018?
For Q2 2018, Devon Energy (DVN) expects total production in a range of 524–549 Mboepd (thousand barrels of oil equivalent per day).
Devon Energy’s Revenue Expectations for Q2 2018
For Q2 2018, Wall Street analysts expect Devon Energy (DVN) to report revenues of ~$3.90 billion. On a year-over-year basis, DVN’s Q2 2018 revenues expectations are ~24% higher compared with its Q2 2017 revenues of ~$3.15 billion.
Will Devon Energy Report Higher Profits in Q2 2018?
Devon Energy (DVN) is expected to report its Q2 2018 earnings on July 31 after the market closes. Here’s what you need to know.
Analyzing ConocoPhillips’s Dividend and Dividend Yield
On July 11, ConocoPhillips (COP) announced a dividend of $0.285 per share on its common stock.
Could ConocoPhillips Report Higher Profits in Q2 2018?
ConocoPhillips (COP) plans to report its Q2 2018 earnings on July 26. Its consensus net income estimate is ~$1.18 billion.
Anadarko Petroleum’s Production Forecast for 2018
For 2018, Anadarko Petroleum (APC) provided a production forecast of 658 Mboed–685 Mboed or 671.5 at the mid-point. APC’s production volumes in 2017 were 672 Mboed.
What’s Analysts’ Median Target Price for Occidental Petroleum?
On June 22, Reuters reported that 25 analysts had given recommendations on Occidental Petroleum (OXY) stock.
Are Hedge Funds Buying Occidental Petroleum?
In this article, we’ll take a look at how hedge funds are positioning themselves in Occidental Petroleum (OXY) stock.
Understanding Occidental’s Correlation with Crude Oil Prices
In this article, we’ll try to quantify any correlation between OXY and crude oil prices.
Did Crude Oil Move ConocoPhillips’s Stock Last Week?
As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price was up by 3.70% for the week ended June 22.
API Reports a Decline in US Crude Inventories
The API reported that US crude oil inventories fell by 3 MMbbls (million barrels) on June 8–15.
ConocoPhillips’s Stock Underperformed Crude Oil Prices Last Week
As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price was down ~6%. Crude oil (SCO) fell more than 1%. So, it’s clear that COP’s stock price underperformed crude oil prices.
Permian Is Most Actively Drilled followed by Anadarko, Eagle Ford
The Permian Basin has developed into one of the most active drilling regions in the United States.
Why US Crude Oil Prices Are Steady
On June 14, Russia and Saudi Arabia announced a bilateral framework to increase cooperation and manage the oil market.
Are Oil-Weighted Stocks Outperforming WTI Crude Oil Prices?
On May 30–June 6, our list of oil-weighted stocks fell 3.8%. US crude oil July futures fell 5.1% during this period.
Comparing Stocks: COP, OXY, DVN, EOG, and APC
ConocoPhillips (COP) was the outlier among its peers. ConocoPhillips has risen ~50.6% YoY, while Occidental Petroleum has risen ~42% YoY.
Are You Looking at the Right Oil-Weighted Stocks?
On May 16, US crude oil June futures rose 0.3% and closed at $71.49 per barrel, a more-than-three-year high.