Today's stock's selection OXY Inspired by: If the earnings of everything outside of financials are rising 9%, but the market is going down, it seems to me that we ought to be buying stocks with rising earnings and falling stock prices. http://articles.moneycentral.msn.com/Investing/StrategyLab/Rn... World energy needs will spike by more than 50% by 2030 but adequate oil reserves, conservation and new methods of recovery mean supply will keep pace with demand, the Organization of Petroleum Exporting Countries said Thursday. http://money.cnn.com/2008/07/10/news/internationa...
Enerplus Resources Fund ( ERF ) will receive C$500-million from Occidental Petroleum Corp. ( OXY ) for its 15% interest in the Joslyn oil sands project. The proceeds will initially be alloted to reducing the company’s bank debt, but may eventually be used for acquisitions or development opportunities, according to Canaccord Adams analyst Kyle Preston, who noted that the trust announced plans to sell the stake on March 25. The deal is expected to close by the end of the third quarter.
Mr. Preston thinks Enerplus received fair value in the deal, maintaining his “buy” r
TheStreet.com's Jim Cramer says the companies could deliver money to shareholders without sacrificing growth.
What happens if the oil companies start actually recognizing their good fortune -- their sustainable good fortune -- and start boosting dividends the way that Tidewater (NYSE: TDW) (Cramer's Take) did last week with its 67% hike.
Throughout this great run with oil and gas, it seems that the companies themselves haven't caught up with the good fortun...
We sold OXY Pete for 231% profits back in October 2006, and as the price of oil shoots to the moon, companies like OXY will continue to benefit. It has proven reserves of 2.9 billion barrels of oil equivalent in the U.S., the Middle East and Latin America. The company also owns 76% of OxyVinyls, which is the top North American producer of polyvinyl chloride (PVC) resin. Occidental Petroleum also has an energy trading and marketing operation, Occidental Energy Marketing. In its fourth quarter, OXY’s earnings rose to $1.74 per share—a 2.95% surprise over analysts’ $1.69 per-share expectations...
hanks to the record-breaking price of oil, Occidental Petroleum Corp. ( OXY ) just recently logged a new 52-week and all-time high after reporting solid first-quarter results on Apr 24. Earnings were $2.20 per share, topping the year-prior 98 cents and beating the consensus estimate by 13.4%. Wall Street estimates are up. The company’s ROE of 21% is above the industry average of 20%. On the income side, OXY pays an annual dividend of $1.00, which translates into a current yield of 1.2%.
The record run of oil, already up a gaudy 400% since 2000, continues, with prices breaking through $122 per barrel on Tuesday, May 6, 2008.
Meanwhile, gasoline prices, up about 20% in the past six months alone, and about 100% in the past four years, show few signs of moderating in the months ahead.
It's the era of high oil/energy prices, and until a readily-available, affordable energy substitute is found and/or oil prices decline, the oil / oil services sector will be in demand, which bodes well for Occidental Petroleum Corporation (NYSE: OXY).
Just like their former president, this company is an international man of mystery. They have major exposure in North Africa, the Middle East, and South America. Their domestic operations are impressive though. They are the largest oil producer in Texas and the largest natural gas producer in CA. They also have operations in KS and OK. The company has two main divisions: oil & gas and chemicals. They turned in a great quarter and production increased. That last part is particularly exciting with prices for all their major products increasing.
OXY: Upside Surprise
- Occidental Petroleum (OXY) is The Correct Call's 3rd pick of the week to beat.
We don’t believe we have to spend a whole lot of time writing about oil...
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OXY
About Occidental Petroleum Corp
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Mr. Preston thinks Enerplus received fair value in the deal, maintaining his “buy” r
