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Stock Market & Financial Investment News

News Breaks
November 19, 2012
16:37 EDTMMP, OXYMagellan Midstream and Occidental Petroleum proceed with BridgeTex pipeline
Magellan Midstream (MMP) and Occidental Petroleum (OXY) announced that they are proceeding with the construction of the previously announced BridgeTex Pipeline to transport Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area. The BridgeTex Pipeline is supported by long-term transportation commitments received during its recent successful open season and has received a favorable order from the Federal Energy Regulatory commission approving the tariff structure for the pipeline. The BridgeTex Pipeline will be capable of transporting up to 300,000 barrels per day of crude oil, with access to Houston Ship Channel refineries, Texas City refineries and other refineries throughout the Gulf Coast via third-party pipelines.
News For MMP;OXY From The Last 14 Days
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October 23, 2014
10:12 EDTOXYOccidental Petroleum expects overall capital program to decline in 2015
the decline is due to the absence of California and the completion of multiple long-term projects. Expects a significant decline in spending in the Middle East as it reaps the benefits of some of earlier long-term investments. The majority of capital budgeted for next year will be allocated to domestic oil and gas drilling opportunities. Some of the reduction in program on long-term projects will be allocated to profitable growth opportunities in Permian Resources, Midstream and Chemicals.
10:10 EDTOXYOccidental Petroleum has no intention of acquiring public companies
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10:10 EDTOXYOccidental Petroleum plan to operate Williston/Piceance basins with less capital
The company plans to operate the basins with less capital in order to generate free cash and shift investment toward higher growth and higher operations in Permian Basin. The company continues to make progress in negotiations with partners in Middle East towards a partial monetization. Expects to achieve similar balance in asset mix, with at least 60% of oil and gas production coming from the U.S. Expects to monetize remaining interest in General Partner of Plains All American Pipeline valued at more than $4B. Expects to generate large a mount of cash proceeds from strategic initiatives. The bulk of these proceeds will be used for share repurchases and hope to reinvest in the business through attractive bolt-on property acquisitions in core area of the Permian Basin.
10:07 EDTOXYOccidental Petroleum sees continued Permian oil production growht in Q4
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10:05 EDTOXYOccidental Petroleum received $5B from bond offering completed by Calif Resource
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07:06 EDTOXYOccidental Petroleum reports Q3 core EPS $1.58, consensus $1.57
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October 22, 2014
16:13 EDTOXYCalifornia Resources reports Q3 net income of $188M
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15:37 EDTOXYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
09:17 EDTMMPMagellan Midstream increases quarterly distribution 4% to 66.75c
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October 21, 2014
16:16 EDTMMPMagellan Midstream extends open season for proposed Saddlehorn Pipeline
Magellan Midstream Partners announced an extension of the open season for commitments on the proposed Saddlehorn Pipeline to transport various grades of crude oil from the Niobrara shale to the partnership's storage facilities in Cushing, Oklahoma. Binding commitments are now due by Nov. 6. The proposed Saddlehorn Pipeline includes construction of an approximate 600-mile, 20-inch diameter pipeline capable of transporting up to 400,000 barrels per day of crude oil from Platteville, Colorado to Magellan's storage facilities in Cushing. Magellan expects to use its existing right-of-way for a significant portion of the pipeline route. Subject to sufficient commitments from shippers and receipt of any necessary permits and regulatory approvals, the Saddlehorn Pipeline could be operational during 2Q16.
10:00 EDTOXYOn The Fly: Analyst Upgrade Summary
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08:29 EDTOXYOccidental Petroleum upgraded to Accumulate from Neutral at Global Hunter
Global Hunter upgraded Occidental to Accumulate based on favorable risk/reward, balance sheet strength, and ongoing asset monetization catalysts. Price target lowered to $105 from $110 based on based on a lower commodity price outlook.
06:41 EDTOXYOman Oil mulls purchase of Oxy sultanate assets, Reuters says
Oman Oil CEO Isam al-Zadjali said that the company has entered negotiations with Occidental Petroleum to purchase the U.S. company's assets in the Gulf Arab sultanate, but is still waiting to understand the terms of the possible deal, according to Reuters, citing comments from al-Zadjali. Reference Link
October 16, 2014
10:01 EDTMMPOn The Fly: Analyst Upgrade Summary
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08:14 EDTOXYInternational E&P price targets lowered at Wells Fargo
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05:53 EDTMMPMagellan Midstream upgraded to Buy from Neutral at Ladenburg
Ladenburg upgraded Magellan Midstream to Buy citing the recent pullback in shares. The firm raised its price target for the stock to $90 from $84.
October 15, 2014
10:02 EDTOXYOn The Fly: Analyst Downgrade Summary
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10:02 EDTMMPOn The Fly: Analyst Upgrade Summary
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08:07 EDTMMPMagellan Midstream upgraded to Buy from Neutral at BofA/Merrill
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06:39 EDTOXYOccidental Petroleum downgraded to Neutral from Outperform at Credit Suisse
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