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Stock Market & Financial Investment News

News Breaks
April 30, 2013
10:31 EDTOXYOccidental Petroleum edges up after analyst applauds CEO plan
Occidental Petroleum's stock is advancing slightly after the company announced that its current CEO, Steve Chazen, would remain in the position through the end of 2014. WHAT'S NEW: Occidental announced that Chazen would remain in the top spot until the end of 2014. In February, Occidental had said that it was initiating a search for a replacement for Chazen. The company indicated that investors had pushed the company to retain Chazen as CEO for an extended period. Chazen was promoted to CEO from COO in 2010. ANALYST REACTION: In a note to investors, Deutsche Bank analyst Paul Sankey wrote that Occidental's decision was "very positive." Sankey upgraded the stock to Buy from Hold, as he believes that the move clears the way for the company to "shrink to grow," i.e. spin off businesses. Spinning off businesses would facilitate major share buybacks and makes sense in the current high oil price environment, the analyst wrote. Sankey increased his price target on the stock to $112 from $90. TODAY'S PRICE ACTION: In mid-morning trading, Occidental gained 0.6% to $88.40.
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July 31, 2014
10:04 EDTOXYOccidental Petroleum sees Permian Resources growth of 15%-18% in 2014
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10:02 EDTOXYOccidental Petroleum sees Q3 production of 15,000-17,000 boe/d sequentially
Sees Q3 domestic total production of 5,000-7,000 boe/d growth; Sees Q3 domestic oil 6,000-8,000 bbls/d growth. Sees modest increase in NGLs and modest decline in natural gas for domestic Q3 production. Sees production and sales volumes to increase 10,000 boe/d internationally. Sees Q3 exploration expense of $100M. Comments taken from slides for Q2 earnings conference call.
07:03 EDTOXYOccidental Petroleum reports Q2 core EPS $1.79, consensus $1.75
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July 30, 2014
15:40 EDTOXYNotable companies reporting before tomorrow's open
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