Trade OXY using the Dividend Capture Strategy Is trading OXY’s upcoming dividend a good idea? Exclusive to Simply Safe Dividends, Dividend Safety Scores were created by our founder, Brian Bollinger, who is a CPA and former partner at a multi-billion dollar investment firm. From a liquidity perspective, BP is well-positioned with a Chevron Corporation is well-positioned with a Occidental Petroleum has been burdened by the acquisition of Anadarko Petroleum in FY2019. 487%. The average price of Oxy’s oil fell about 61 percent to $23.17 per barrel in the second quarter, down from $58.91 per barrel the same period last year.Oxy has slashed spending, laid off workers and cut its dividend for the first time in three decades.

Scores are available for almost 1,000 stocks and can help you generate safer income. Using this as a guide, we can derive a target price. Occidental Petroleum is not planning to increase oil production next year but will instead focus on paying down its massive debt and strengthening its financesThe Houston independent also is looking to partner with other oil and gas companies to develop new drilling projects. That’s our highest priority for next year.”The pronouncement came as the Houston independent posted a steep second-quarter loss of $8.4 billion compared with a profit of $635 million during the same period a year ago. For example, on page 2 of its Q1 quarterly report, Exxon said,“The company’s objective is to continue investing in industry-advantaged projects to create value, preserve cash for the dividend, and make appropriate use of its balance sheet.”Moreover, Exxon’s management announced on May 1 that it was reducing its capex spending by 30% and cash operating expenses by 15%.

“We won’t sacrifice value to close transactions quickly.”Oxy, however, may not have the luxury of time, Rowland said.Oxy reported $1.1 billion of cash on hand at the end of the second quarter, down from $3.6 billion at the start of the quarter, as well as $5 billion line of credit. Latest Stock Picks Investing Basics Premium Services. However, its operating cash flows are poised to improve from early next year. From a balance sheet perspective, Marathon Oil reported After a sharp decline during the market meltdown this year, CVX stock has bounced back strongly. The joint ventures would help Oxy save costs by pooling resources.“I don’t see us growing next year,” CEO Vicki Hollub said in a conference call with analysts Tuesday. So far, in Q2 the price of oil has been slightly higher than Q1. He responded by saying that the company would “maintain” the dividend. The company is being conservative and has now maintained the dividend at the same level.Moreover, at the company’s annual meeting on May 27, Woods, was specifically asked about the dividend. © Source: TK Kurikawa / Shutterstock.com Show full articles without "Continue Reading" button for {0} hours. From a de-leveraging perspective, the company has already paid Among the big names, BP stock is also worth considering for the long-term.

Rule … I have written several articles about this, including the most recent one on May 12: “The point is that management has made maintaining the dividend a very clear priority. Moreover, even as the world moves towards alternative energy sources, the demand for oil is likely to grow in the coming decades. © Source: Pavel Kapysh / Shutterstock.com Take a look, for instance, at this interview in early April on CNBC. He points to Ford's more than $22 billion in cash to support the dividend payment. OXY earnings call for the period ending June 30, 2020. So as oil gradually trends higher, I expect the stock to gain positive momentum after consolidation. Sure, the stock has declined by 56.2% year-to-date. “To go out and spend a couple billion dollars on oil and gas assets isn’t going to jibe with that story.”Hollub earlier warned Oxy might not be able to sell its assets quickly enough to repay its debt, but she struck a more optimistic tone Tuesday on the company’s ability to complete $2 billion worth of assets sales this year and another $2 billion to $3 billion of sales by the middle of next year.During the second quarter, Oxy sold 190,000 acres in Uinta Basin’s Greater Natural Buttes gas field in Utah, for $87 million.The company also has selected a bidder to purchase its mineral interests in Wyoming.

It also is trying to sell billions of dollars of assets to reduce nearly $40 billion in debt incurred after the Anadarko acquisition, which made the combined company the largest player in the prolific Permian Basin of West Texas. Second quarter revenue fell by one-third to about $3 billion, down from about $4.5 billion during the same period a year ago.Oxy, saddled with debt from its $38 billion acquisition of Anadarko Petroleum last year, wrote down the value of its oil and gas assets by $6.6 billion to reflect low crude prices. They have broadcast this in several ways.

Let’s say that it takes 2.5 years to happen. © Source: tishomir / Shutterstock.com

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