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Fly News Breaks for June 24, 2019
APC, OXY
Jun 24, 2019 | 07:40 EDT
As previously reported, Morgan Stanley downgraded Occidental Petroleum (OXY) to Equal Weight from Overweight. Analyst Devin McDermott believes covering the 2020 dividend at current oil prices will require meaningful capital expenditure cuts, even though the Anadarko (APC) deal looks accretive to cash flow. Oil price volatility presents a key risk given that the company's pro forma leverage is among the highest of any company he covers, said McDermott, who cut his price target on Occidental shares to $55 from $69.
News For OXY;APC From the Last 2 Days
OXY
Feb 14, 2020 | 16:21 EST
Carl Icahn's Icahn Capital disclosed in an SEC filing its holdings as of December 31, 2019. The fund increased its stake in two holdings during the quarter, namely Hertz (HTZ) and Icahn Enterprises LP (IEP). Icahn decreased its stake in two holdings, namely Occidental (OXY) and Freeport-McMoRan (FCX). The fund's told holdings as of December 31, in order of size, were Icahn Enterprises, CVR Energy (CVR), Herbalife Nutrition (HLF), Caesars Entertainment (CZR), and HP Inc. (HPQ).