Occidental Petroleum Corporation Buyback
OLI recorded this information on 10/2/2014
Company:
Occidental Petroleum Corporation
Buyback:
OXY buyback
Shares Announced Repurchased:
60000000
Buyback Details:
The Board also authorized the repurchase of an additional 60 million shares of the company's common stock, leaving the program with 76 million shares, as of September 30, 2014. Share repurchases will continue to be funded from available cash from operations, excess cash on hand and proceeds from asset sales as part of the previously announced strategic review, including a dividend of approximately $6 billion from California Resources to Occidental. The program does not require purchases to be made within a particular timeframe.
Occidental Petroleum has three reporting segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops and produces oil (which includes condensate), natural gas liquids (NGL) and natural gas. The chemical segment primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports and stores oil (which includes condensate), NGL, natural gas, carbon dioxide and power. The midstream and marketing segment also includes Co.'s low carbon ventures businesses, which primarily focus on developing carbon removal and carbon capture, utilization and storage projects.
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Avg. Broker Rec.
 
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Buy (2.63 out of 4) 9th percentile
(ranked lower than approx. 91% of all stocks covered)
Analysts' Target Price: OXY Stock Forecast Based on Zacks ABR data; powered by Xignite |
