|Bid||81.59 x 3200|
|Ask||84.28 x 1800|
|Day's range||82.71 - 83.76|
|52-week range||57.84 - 87.67|
|PE ratio (TTM)||33.70|
|Earnings date||31 Jul 2018 - 6 Aug 2018|
|Forward dividend & yield||3.08 (3.70%)|
|1y target est||93.54|
On June 19, the API (American Petroleum Institute) released its weekly crude oil inventory report. The API reported that US crude oil inventories fell by 3 MMbbls (million barrels) on June 8–15. A Bloomberg survey estimates that US oil inventories could have declined by 2.5 MMbbls during the same period. The survey also estimates that Cushing crude oil inventories could have declined by 0.5 MMbbls on June 8–15. The EIA is scheduled to release its inventory data on June 20.
Although overlooked by the investors, Occidental Petroleum (OXY) looks well-positioned for a solid gain, supported by a favorable Zacks rank and positive estimate revisions.
ARO Drilling leases Rowan's (RDC) Super Gorilla XL Class jack-up rig for a contract with Saudi Aramco. This move will help the company participate in the growing market of Saudi Arabia.
Occidental Petroleum Corporation (OXY) and White Energy announced today that they have agreed to evaluate the economic feasibility of a carbon capture, utilization and storage project. The project would capture carbon dioxide (CO2) at White Energy’s ethanol facilities in Hereford and Plainview, Texas, and transport it to the Permian Basin, where Occidental would use it in its enhanced oil recovery (EOR) operations.
Equinor's (EQNR) equity production in Brazil increase by around 150% after acquiring interests in Petrobras-operated Roncador field.
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. In this part, we’ll quantify this correlation between COP and crude oil prices.
Investors have shunned producers that do business in the Permian Basin in Texas and New Mexico as a crude-oil bottleneck threatens to leave barrels of Texas tea stranded. Occidental Petroleum and Pioneer Natural Resources have lagged behind the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund (XOP) by a large margin, because of Permian pipeline angst.
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Occidental Petroleum Corporation (NYSE:OXY) a safer option. Risk-averse investors who are attracted to diversified streamsRead More...
Occidental Petroleum (OXY) is seeing solid earnings estimate revision activity and is a great company from a Zacks Industry Rank perspective.
Phillips 66 (PSX) proposes construction of two 150,000 barrel-per-day NGL fractionators and additional storage capacity as part of the Sweeny Hub expansion.
In this final part of our series, we’ll discuss the YoY (year-over-year) stock performances of ConocoPhillips (COP), EOG Resources (EOG), Anadarko Petroleum (APC), Occidental Petroleum (OXY), and EQT Corporation (EQT).
As we can see in the graph above, OXY’s quarterly capex spending levels since Q1 2017 have mostly been higher than the corresponding quarters in 2016. OXY’s capex forecast for 2018 is $3.9 billion compared to its capital spending of ~$3.6 billion in 2017 and $2.7 billion in 2016.
The progress in the development of Exxon Mobil's (XOM) Liza Phase 1 is estimated to generate more than $7 billion in royalty and profit oil revenues.
Today’s North Korea summit, and its apparent success, have been dominating news headlines at the start of the week, but oil market appear to be unimpressed by the lack of actionable news being released
Major indexes are likely to maintain their northbound movement in the near term. Strong weekly gains have placed all three indexes in the green year to date.
Britain's biggest asset manager wants to remove the chairmen of the board at eight companies worldwide, which it says have failed to confront the threats posed by climate change. Legal & General Investment Management, the fund arm of insurer Legal & General (LGEN.L), has been among the most vocal asset managers on the topic, recently writing to some of the world's top companies calling for more action. On Monday, it said it would vote against the chairs of China Construction Bank , Dominion Energy (D.N) and Japan Post Holdings , as well as Occidental Petroleum (OXY.N), Rosneft Oil (ROSN.MM) and Subaru .
Britain's biggest asset manager wants to remove the chairmen of the board at eight companies worldwide, which it says have failed to confront the threats posed by climate change. Legal & General Investment Management, the fund arm of insurer Legal & General (LSE: LGEN.L - news) , has been among the most vocal asset managers on the topic, recently writing to some of the world's top companies calling for more action.
Pope Francis warned that climate change risked destroying humanity on Saturday (Shenzhen: 002291.SZ - news) and called on energy leaders to help the world to convert to clean fuels to avert catastrophe. "Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives at the end of a two-day conference in the Vatican. Climate change was a challenge of "epochal proportions", he said, adding that the world needed an energy mix that combated pollution, eliminated poverty and promoted social justice.