up 8 %
I was wondering why this name didn't move last week . 1 billion FCF per month and that's with lower prices.
No hedges, printing money here
Up 13 per cent on the day , WOW
Oxy
Re: Oxy
I am keeping an eye on BP. Today's small drop does not fully represent the hit it is going to take when it divests itself of the large position it holds in Rosneft. An opportunity may open up to buy an otherwise strong company. Conversely, if somehow Putin finds a face-saving way to extricate himself from the mess he has created, the Russian energy stocks will be a buy...if one can stand the thought of investing there.
Re: Oxy
this is how they will spend what they made in jan and feb
http://archive.fast-edgar.com/20220228/ ... AZC22Z242/
http://archive.fast-edgar.com/20220228/ ... AZC22Z242/
Re: Oxy
How do you raise your target price to 33 when the name is already at 42.80
Wells Fargo Raises Occidental Petroleum Price Target to $33 From $29, Maintains Underweight Rating
Wells Fargo should fire their analyst..looks like a fool, imho
Wells Fargo Raises Occidental Petroleum Price Target to $33 From $29, Maintains Underweight Rating
Wells Fargo should fire their analyst..looks like a fool, imho
Last edited by Fraser921 on Sun Mar 06, 2022 8:24 am, edited 1 time in total.
Re: Oxy
The oil producer launched a tender offer Monday to repurchase 15 tranches of notes with maturities ranging from 2023 to 2049. Some of its targeted bonds gained. The $663 million of 4.1% unsecured notes due in 2047 vaulted 5 cents to 92.5 cents on the dollar Monday morning, according to data compiled by Bloomberg.
The cost of West Texas Intermediate crude for April rose to roughly $95 a barrel Monday as tougher sanctions were imposed on Russia following its invasion of Ukraine.
While Houston-based Occidental doesn’t drill or own assets in Ukraine or Russia, Chief Executive Officer Vicki Hollub condemned the “insane and inhumane” actions of Russian President Vladimir Putin.
And even though oil prices remain high, the company does not intend to boost production this year, and any future annual growth will be capped at roughly 5%, Hollub said Hollub said last week during a call to discuss fourth-quarter earnings.
Read more: Occidental Hikes Dividend 1,200% to 13 Cents as Oil Prices Surge
Occidental is focused on cutting debt and regaining its investment-grade status in the medium term, Hollub said on the call. Both Fitch Ratings and S&P Global Ratings give the company the highest junk rating, while Moody’s Investors Service grades it one step lower.
The company expects net debt to fall below $25 billion by end of the first quarter. It ended 2021 with around $28.4 billion of total debt and $2.8 billion of unrestricted cash.
Occidental’s debt buyback includes principal and premium in its purchase price, but excludes accrued and unpaid interest. The offer expires on March 4.
I don’t see Wells Fargo involved
The cost of West Texas Intermediate crude for April rose to roughly $95 a barrel Monday as tougher sanctions were imposed on Russia following its invasion of Ukraine.
While Houston-based Occidental doesn’t drill or own assets in Ukraine or Russia, Chief Executive Officer Vicki Hollub condemned the “insane and inhumane” actions of Russian President Vladimir Putin.
And even though oil prices remain high, the company does not intend to boost production this year, and any future annual growth will be capped at roughly 5%, Hollub said Hollub said last week during a call to discuss fourth-quarter earnings.
Read more: Occidental Hikes Dividend 1,200% to 13 Cents as Oil Prices Surge
Occidental is focused on cutting debt and regaining its investment-grade status in the medium term, Hollub said on the call. Both Fitch Ratings and S&P Global Ratings give the company the highest junk rating, while Moody’s Investors Service grades it one step lower.
The company expects net debt to fall below $25 billion by end of the first quarter. It ended 2021 with around $28.4 billion of total debt and $2.8 billion of unrestricted cash.
Occidental’s debt buyback includes principal and premium in its purchase price, but excludes accrued and unpaid interest. The offer expires on March 4.
I don’t see Wells Fargo involved
Re: Oxy- Must read
https://seekingalpha.com/news/3809916-w ... -petroleum
and this
https://www.cnbc.com/2022/03/05/berkshi ... oleum.html
In his annual letter to shareholders released less than one week ago, Warren Buffett complained he could “find little that excites us” in the equity market
However a new SEC filing from Friday night revealed that someone at Berkshire Hathaway, either Buffett himself or his portfolio managers, is very excited about Occidental Petroleum.
As of Friday, Berkshire owns 91.2 million common shares of the oil giant. They’re worth $5.1 billion at tonight’s close of $56.15. The stock gained 18% today and 45% this week
Berkshire only owns around 9% of Occidental’s common shares. But it also has warrants to buy another 83.9 million shares at $59.62.
Even though the warrants have not been exercised, for the purposes of the SEC filing trigger they have to be counted, technically putting Berkshire’s stake at more than 17%.
Closed last week at $ 56.15 up 93.7 % YTD
Why?
Unhedged oil and NG exposure and new item
Warren Buffett is buying hands over fist. He bought 3 b as in billions just last week alone!
Risk is energy prices turn down. Do your own due diligence. I think we have follow thru next week
Unhedged turns me on. NG is a bargain at $ 5 , equivalent to $ 30 oil this will continue to push demand. Biden's insane energy policies, the fight against pipelines all add up to higher prices
The media is now blaming Ukraine for higher prices, in part true, but they were pushing $ 100 before the crisis and Dan's excellent weekly reports have been talking about declining inventories and higher demand for many months now.
OXY has a warrant exercisable at $ 22 , 112 m of them , trades with the common. Ichan owns a ton of them but it's been repeorted he has cut his stake.
and this
https://www.cnbc.com/2022/03/05/berkshi ... oleum.html
In his annual letter to shareholders released less than one week ago, Warren Buffett complained he could “find little that excites us” in the equity market
However a new SEC filing from Friday night revealed that someone at Berkshire Hathaway, either Buffett himself or his portfolio managers, is very excited about Occidental Petroleum.
As of Friday, Berkshire owns 91.2 million common shares of the oil giant. They’re worth $5.1 billion at tonight’s close of $56.15. The stock gained 18% today and 45% this week
Berkshire only owns around 9% of Occidental’s common shares. But it also has warrants to buy another 83.9 million shares at $59.62.
Even though the warrants have not been exercised, for the purposes of the SEC filing trigger they have to be counted, technically putting Berkshire’s stake at more than 17%.
Closed last week at $ 56.15 up 93.7 % YTD
Why?
Unhedged oil and NG exposure and new item
Warren Buffett is buying hands over fist. He bought 3 b as in billions just last week alone!
Risk is energy prices turn down. Do your own due diligence. I think we have follow thru next week
Unhedged turns me on. NG is a bargain at $ 5 , equivalent to $ 30 oil this will continue to push demand. Biden's insane energy policies, the fight against pipelines all add up to higher prices
The media is now blaming Ukraine for higher prices, in part true, but they were pushing $ 100 before the crisis and Dan's excellent weekly reports have been talking about declining inventories and higher demand for many months now.
OXY has a warrant exercisable at $ 22 , 112 m of them , trades with the common. Ichan owns a ton of them but it's been repeorted he has cut his stake.
Re: Oxy
https://www.oxy.com/globalassets/docume ... slides.pdf
FCF was 2,930 m in q4 page 2
https://www.oxy.com/globalassets/docume ... iation.pdf
That was with realized oil at 75.78 page 14 >>>> What do you think it will be at $ 115?? All unhedged Let me give you a clue.. Annualized cash flow changes ~$225 MM per $1.00 /
bbl change in oil prices, 40 bucks * 225 m = 9 billion MORE CASH FLOW. So instead of CURRENT 3 b per qtr = 5 b quarterly
https://www.oxy.com/globalassets/docume ... cials2.pdf
FCF was 2,930 m in q4 page 2
https://www.oxy.com/globalassets/docume ... iation.pdf
That was with realized oil at 75.78 page 14 >>>> What do you think it will be at $ 115?? All unhedged Let me give you a clue.. Annualized cash flow changes ~$225 MM per $1.00 /
bbl change in oil prices, 40 bucks * 225 m = 9 billion MORE CASH FLOW. So instead of CURRENT 3 b per qtr = 5 b quarterly
https://www.oxy.com/globalassets/docume ... cials2.pdf
Last edited by Fraser921 on Sun Mar 06, 2022 10:35 am, edited 1 time in total.
Re: Oxy
Buffet keeps buying https://seekingalpha.com/news/3814541-b ... tal-to-146
Rumors is he may want to buy the whole thing
Unhedged Oil
Unhedged NG
Crude up 6 today over 100
NG approaching 5
Every $ 1 in crude is another 225 m to OXY
They did 2.9 b FCF q4 with $ 66 crude. My estimate with $ 90 crude in Q1 is 4.2 b. Flat 90 for the year is 17 b
EV is roughly 90 b 17/90 = 19 % ROI
Name is up 8 % on the news
Rumors is he may want to buy the whole thing
Unhedged Oil
Unhedged NG
Crude up 6 today over 100
NG approaching 5
Every $ 1 in crude is another 225 m to OXY
They did 2.9 b FCF q4 with $ 66 crude. My estimate with $ 90 crude in Q1 is 4.2 b. Flat 90 for the year is 17 b
EV is roughly 90 b 17/90 = 19 % ROI
Name is up 8 % on the news
Re: Oxy
Story in MarketWatch that says “rumor” Warren
Buffet would like to buy oxy at $ 80
I guess he likes the 20 per cent yield which sure beats 2 per cent for cash
Crude has opened 3 lower Sunday pre market which might be a headwind
for Monday
Europe will still buy Russian oil and demented Biden will cut a deal with Iran soon
He needs lower oil prices going into November
Buffet would like to buy oxy at $ 80
I guess he likes the 20 per cent yield which sure beats 2 per cent for cash
Crude has opened 3 lower Sunday pre market which might be a headwind
for Monday
Europe will still buy Russian oil and demented Biden will cut a deal with Iran soon
He needs lower oil prices going into November
Re: Oxy
The ceo just bought $ 800,000 worth of shares of OXY
https://occidentalpetroleum.gcs-web.com ... ff1f949b2a
https://occidentalpetroleum.gcs-web.com ... ff1f949b2a
Re: Oxy
Update. Warren Buffet ups stake to 26 % from 20 %. Notable as all previous purchase were below 60, this slug was abobe 60. He loves adding on dips
WSJ just wrote an article, here...
https://www.wsj.com/articles/occidental ... 1662762696
WSJ just wrote an article, here...
https://www.wsj.com/articles/occidental ... 1662762696