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OCCIDENTAL PETROLEUM CORPOCCIDENTAL PETROLEUM CORPOCCIDENTAL PETROLEUM CORP

OCCIDENTAL PETROLEUM CORP

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OXYP trade ideas

OXY Buy Time? Occidental Petroleum Corporation (“Occidental”) (NYSE: OXY) today announced that, in connection with its offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) the outstanding senior notes listed in the table below and Consent Solicitations (as defined below), it is increasing the maximum aggregate purchase price of Notes (as defined below) it will accept for purchase, excluding accrued but unpaid interest (as amended herein, the “Maximum Aggregate Purchase Price”), from the previously announced amount of $1,500 million to $2,000 million. Additionally, Occidental announced that it had conditioned its obligation to accept for purchase and to pay for any of the Notes in the Tender Offers on the completion by Occidental of a registered offering (the “Concurrent Offering”) of senior unsecured debt securities that results in net proceeds of at least $1,950 million, an increase from the previously announced condition that required such Concurrent Offering to result in net proceeds of at least $1,475 million, on terms and subject to conditions reasonably satisfactory to Occidental (as amended herein, the “Financing Condition”). The Tender Offers are being made upon the terms and conditions described in Occidental’s Offer to Purchase and Consent Solicitation Statement, dated June 25, 2020 (the “Offer to Purchase”), as amended by this press release.
NYSE:OXY
by BigManAlasad
Occidental Petroleum Technical AnalysisThe idea is to go long, but wait the end of the price setback before going long. Occidental Petroleum — Occidental shares climbed more than 4% after a SunTrust analyst upgraded the energy company to “buy” from “hold.” The analyst also raised his price target on the stock to $25 per share from $13 a share, implying a 12-month upside of 27% from Thursday’s close. “We believe Occidental is in position to continue improving its balance sheet through internal and external means,” the analyst said.
NYSE:OXYLong
by Mauriello
1
$OXY - like the markets.... i have trust issues. $OXY I dont even want to offer a recommendation on this one. Why? Because the company is literally upside down with debt. See article: www.houstonchronicle.com From my quick analysis, it appears that oil contract that closed Friday of last week ended sharply higher. This carried into the weekend with the OPEC meeting and then into Monday bringing euphoria back to the market that we could possibly continued oil cuts & market stabilization. Today the narrative was changed saying that there is trust issues between major suppliers as we watched Aramco jack their prices. I would wait to see if the stock can stabilize at the bottom of this gap zone in the 19-20 dollar range before buying or adding more $OXY. Oil is another sector that will be completely rocked if a "second wave" of the virus hits. We still have millions of gallons of oil floating in barges across the world. I wonder how much deeper negative oil prices would go if we shut down again. If it does rise, i would use $25.50 as an entry point and $24 as a stop loss.
NYSE:OXY
by IMF_Trading
1