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☆ Our lone energy stock is not getting the credit for 2 things it did well this quarter
▼ + stars: | 2024-02-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. These are the brave analysts who upgraded Foot locker in December when the stock was at $28 apiece. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Goldman Sachs, Marcellus, Piper Sandler, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Coterra Energy Locations: CTRA, FL

☆ Coterra uses its flexibility to deliver what matters most to investors in energy
▼ + stars: | 2024-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Coterra Energy slightly missed earnings expectations on Thursday, but the oil and natural gas producer delivered where it matters most: free cash flow. This new era rewards the energy players that focus on dividends and buybacks, both of which depend on strong, consistent cash flow production. And Coterra delivered, with beats on discretionary and free cash flow. Though the discretionary cash flow guide is disappointing, the ultimate impact is mitigated by this flexibility because it allows for the most efficient use of cash. A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019.

Persons: Coterra, Tom Jorden, Marcellus, Jim Cramer's, Jim Cramer, Jim, Angus Mordant Organizations: Energy, LSEG, Coterra, Management, CNBC Locations: Loving County , Texas, U.S

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

☆ ‘Manahatta,’ Mary Kathryn Nagle’s Play About the Lenape, Comes Home
▼ + stars: | 2023-11-24 | by ( Alexis Soloski | More About Alexis Soloski | ) www.nytimes.com time to read: +1 min

Mary Kathryn Nagle moved to Manhattan in 2010. These dueling histories, recent and long ago, inspired Nagle’s play “Manahatta.” Now in previews at the Public Theater, it will run through Dec. 23. Named for the Lenape word for Manhattan, which translates to “island of many hills,” the drama volleys between the 17th century and the early 21st, and between Manahatta and Manhattan and Anadarko. The seven actors in the cast each play a character in each period. This is the play’s third production, but the first on the island on which it is largely set.

Persons: Mary Kathryn Nagle, ”, Nagle, Quinn Emanuel Organizations: Cherokee, Delaware Indians, National Museum of, Public Locations: Manhattan, Oklahoma, Delaware, Anadarko, Bartlesville, New York, Manahatta

☆ Occidental Petroleum beats Q3 estimates on higher production
▼ + stars: | 2023-11-08 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The oil and gas company reported a $1.18 a share profit compared to average Wall Street analyst forecasts for an 84 cent a share profit, according to LSEG. Its chemical and midstream unit earnings fell compared to a year ago. Midstream swung to a loss of $130 million from a $104 million profit. Its chemicals business profit fell to $373 million from $580 million a year ago.

Persons: Brendan McDermid, Warren Buffett's, Midstream, Sabrina Valle, Sourasis Bose, Krishna Chandra Eluri, Stephen Coates, Jamie Freed Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Rights, Tuesday, Occidental, Berkshire Hathaway's, Anadarko Petroleum, BlackRock, Devon Energy, Thomson Locations: New York, U.S, Berkshire, Occidental, Texas, Devon, Houston, Bengaluru

(AP) — Investor Warren Buffett joined the recent oil-buying spree in the market this week by resuming Berkshire Hathaway's purchases of Occidental Petroleum stock for the first time in four months. Buffett's company said in a Securities and Exchange Commission filing late Wednesday that it invested more than $246 million to add to its already massive Occidental stake over the first three days of this week. Berkshire bought nearly 4 million more shares of the Houston-based oil producer to give it more than 228 million shares and control of nearly 26% of Occidental. Berkshire's Occidental stake is now worth more than $14.4 billion. In addition to the common Occidental shares Berkshire owns, it also holds 84,897 preferred shares of Occidental that it picked up in 2019 when it helped finance Occidental’s acquisition of Anadarko.

Persons: Warren Buffett, Buffett Organizations: —, Berkshire, Occidental Petroleum, Securities and Exchange Commission, Occidental, Chevron, Hess Corp, Exxon Mobil, Natural Resources, Buffett, Exxon, Berkshire's, Apple, Bank of America, BNSF Locations: OMAHA, Neb, Houston, Occidental, Berkshire, United States, Berkshire's Occidental, Anadarko . Berkshire, Omaha , Nebraska

☆ Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +5 min

Since our shareholders are getting Chevron stock, we get to participate in the upside, and also get a higher dividend," he said. He added that Hess shareholders who keep their shares in their combined company will see their dividend rise from $1.75 to $6 per share following the close of the deal. Exxon and Chevron are keen on these deals because they want to avoid the risk of exploring unproven reserves as oil and gas become scarcer. Exxon and Chevron had $29.5 billion and $9.3 billion in cash, respectively, as of the end of June. Keeping dividends and share buybacks strong helps compensate existing Exxon and Chevron shareholders for the dilution incurred in the all-stock acquisitions.

Persons: Hess, John Hess, Andrew Dittmar, David French, Greg Roumeliotis, Marguerita Choy Organizations: Exxon Mobil, Chevron, Exxon, Natural Resources, PDC Energy, Noble Energy, Morningstar, Anadarko, Occidental Petroleum, Thomson Locations: Ukraine, U.S, Guyana, New York

☆ Analysis: Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +5 min

☆ Chevron agrees to buy Hess for $53 billion
▼ + stars: | 2023-10-23 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —Chevron announced Monday that it has agreed to buy rival Hess in yet another oil industry consolidation deal. Hess (HES) also has large oil assets in Guyana, which Chevron said would help grow its production over the next decade. Chevron said that it would increase buybacks of its stock by $2.5 billion to $20 billion a year. Shares of Chevron slipped 3% in premarket trading following the deal announcement, while Hess’ shares were slightly higher. Since the start of 2022, just ahead of the big run-up in oil prices following Russia’s full-scale invasion of Ukraine, Hess shares are up 120%, while Chevron shares are up 42%.

Persons: Hess, Chevron, ”, Mike Wirth, Wirth, Critics, It’s, Biden, John Hess, — Chris Isidore Organizations: New, New York CNN, Chevron, ExxonMobil, Exxon, Anadarko Petroleum Locations: New York, Texas, Guyana, Ukraine, Marathon

☆ Top Wall Street analysts expect these dividend stocks to boost portfolio returns
▼ + stars: | 2023-10-08 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

The company's dividend hike of 3.4% last year marked the 40th consecutive year of annual dividend growth. Mizuho analyst Nitin Kumar reiterated a buy rating on Exxon with a price target of $139 after attending the company's Product Solutions Spotlight event. Calling CTRA his top pick, Kumar reiterated a buy rating on the stock with a price target of $42. (See BIP Stock Chart on TipRanks)American Electric PowerAnother RBC Capital analyst, Shelby Tucker, is bullish on utility stock American Electric Power (AEP). Recently, Tucker lowered the price target for AEP to $90 from $103 to reflect a high interest environment but reiterated a buy rating.

Persons: Sergio Moraes, Wall, Mizuho, Nitin Kumar, Kumar, TipRanks, Marcellus Shale, Robert Kwan, Kwan, Shelby Tucker, Charles E, Tucker Organizations: AEP BIP, Exxon Mobil Corp, Oil, Gas Expo, Exxon Mobil First, Exxon Mobil, Exxon, Coterra Energy, CTRA, Brookfield Infrastructure Partners, Brookfield Infrastructure, RBC Capital, Power, American Electric Power, AEP, 453rd, Darden Locations: Rio de Janeiro, Brazil, Baytown, Singapore, Anadarko, TipRanks, Brookfield

☆ ‘Monster Fracks’ Are Getting Far Bigger. And Far Thirstier.
▼ + stars: | 2023-09-25 | by ( Hiroko Tabuchi | Blacki Migliozzi | ) www.nytimes.com time to read: +23 min

Dallas TEXAS Austin Houston San Antonio Dallas TEXAS Austin Houston San Antonio TEXAS TEXAS Amarillo Lubbock Dallas El Paso TEXAS Austin Houston San Antonio Corpus Christi UNCHARTED WATERS ‘Monster Fracks’ Are Getting Far Bigger. Water wells that supply fracking Nationwide, fracking has used up nearly 1.5 trillion gallons of water since 2011. Now they account for almost two out of every three fracking wells in Texas, the Times analysis found. ‘Monster fracks’ take off in Texas Proportion of fracks Source: FracFocus chemical disclosure database as of Aug. 1, 2023. In 2020, New Mexico halted sales of water supplies to oil and gas companies fracking on state land.

We are exiting our position in Halliburton (HAL) Friday, selling 1,400 shares at roughly $39.52 apiece. The extra cash raised from the Halliburton sale will set us up Monday to scoop up shares of those two names. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer's, Jim, Halliburton —, we've, We've, Halliburton, DuPont, Stanley Black, Decker, Jim Cramer, Jamie Schwaberow Organizations: Halliburton, HAL, DuPont de Nemours, Oracle, DuPont, Coterra Energy, Natural Resources, West Texas, GE HealthCare, CNBC, Workers, Halliburton Co, Anadarko Petroleum Corp, Bloomberg, Getty Locations: Halliburton, oversold, Dacono , Colorado, U.S

But, as Jim Cramer said Wednesday stocks in other parts of the market have started to come "back from the dead." Here's a look at where we stand on these eight Club stocks, starting with the biggest gainer, Halliburton, and concluding with the eighth-best performer, TJX Companies. HAL 3M mountain Halliburton's stock performance over the past three months. CAT 3M mountain Caterpillar's stock performance over the past three months. TJX 3M mountain TJX Companies' stock performance over the past three months.

Persons: It's, Jim Cramer, Wells, Morgan Stanley, Wells Fargo, Elliott Management, Jim, STZ, Emerson, bode, Morgan Stanley's, Morgan, TJ Maxx, we're, TJX, Jim Cramer's, Jamie Schwaberow Organizations: Halliburton, HAL, Caterpillar, Nvidia, Constellation Brands, Emerson Electric, Coterra Energy, TJX Companies, CAT, Wells, Apple, Corona, Modelo, Constellation, Emerson, Morgan, Goods, CNBC, Workers, Halliburton Co, Anadarko Petroleum Corp, Bloomberg, Getty Locations: Wells Fargo, Wells, Dacono , Colorado, U.S

☆ Berkshire Hathaway boosts stake in Occidental Petroleum to 25%
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said on Wednesday it has acquired more shares of Occidental Petroleum Corp (OXY.N), boosting its stake in the oil company to above 25%. The conglomerate, controlled by billionaire Warren Buffett, said in a regulatory filing that it paid about $122.1 million for 2.14 million Occidental shares between June 26 and June 28. Berkshire had also purchased about 4.66 million Occidental shares on May 30. It also recently owned about $9.5 billion of Occidental preferred stock carrying an 8% dividend, plus warrants to buy another $5 billion of Occidental shares at $59.62 each. Berkshire had amassed a 22.6% stake in the BNSF railroad before paying $26.5 billion for the remainder in 2010.

Persons: Warren Buffett, Buffett, We're, We've, Jonathan Stempel, Sherry Jacob, Phillips Organizations: Berkshire Hathaway Inc, Occidental Petroleum Corp, Occidental, Berkshire, Anadarko Petroleum Corp, BNSF, Apple Inc, Thomson Locations: Berkshire, Houston, Russia, Ukraine, Occidental, Omaha , Nebraska, Bengaluru

☆ Berkshire Hathaway boosts Occidental stake to 25%. Why Warren Buffett loves this energy play so much
▼ + stars: | 2023-06-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway keeps buying the dip in Occidental Petroleum , now owning a quarter of the oil giant. The conglomerate purchased an additional 2.1 million Occidental shares on Monday, Tuesday and Wednesday, boosting its stake in the Houston-based energy producer to 25.1%, a new regulatory filing showed. Berkshire now owns 224.1 million shares, worth $12.9 billion based on Wednesday's closing price of $57.46. The buying spree this year came as Occidental shares pulled back after a stellar 2022. Berkshire also owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.

Persons: Warren, Berkshire Hathaway, oilman Armand Hammer, Vicki Hollub, she's, Buffett, Hollub Organizations: Occidental Petroleum, Occidental, Berkshire, Buffett, Cities Service Locations: Occidental, Houston, Berkshire

☆ Oregon county sues oil, gas companies including Exxon, Shell, Chevron for deadly 2021 Pacific Northwest heat dome
▼ + stars: | 2023-06-23 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +4 min

Multnomah County in Oregon is suing oil and gas companies Exxon Mobil , Shell , Chevron , BP, ConocoPhillips and related organizations for the damages caused by the 2021 Pacific Northwest heat dome. Multnomah County said these and other fossil fuel companies and entities operating in the region are significantly responsible for causing and worsening the deadly heat event. Starting on June 25, 2021, Multnomah County had three consecutive days where the heat reached 108, 112 and 116 degrees Fahrenheit, respectively. The heat event is called a heat dome which is a weather event caused by a high-pressure system that in this case prevented cooler maritime winds to blow and also prevented clouds from forming. Jessica Vega Pederson, the chair of Multnomah County, is seeking to protect the residents of the county she represents.

Persons: Shanton Alcaraz, Eddy Norby, Jessica Vega Pederson, Pederson, Caron PC, Thomas, Coon, Frost Organizations: Salvation Army Northwest Division, Exxon Mobil, Shell, BP, ConocoPhillips, Anadarko Petroleum, Occidental Petroleum, American Petroleum Institute, Chevron, Koch Industries, Marathon Petroleum, McKinsey & Company, Motiva, Peabody Energy, Specialties USA, Valero Energy, Western States Petroleum Association, Worthington Locations: Seattle , Washington , U.S, Multnomah County, Oregon, Chevron, Pacific, Occidental

☆ Warren Buffett bought more Occidental shares in each of the last six trading days
▼ + stars: | 2023-05-19 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway bought more shares of Occidental Petroleum in each of the last six trading days, boosting its stake in the Houston-based oil-and-gas producer to 24.4%, according to regulatory filings. The Omaha-based conglomerate purchased a total of of 5.6 million shares for $327.2 million over the past six sessions at an average price of $58 a share. Berkshire now owns 217.3 million shares with a market value of nearly $12.7 billion. Shares of Occidental rose nearly 2% in premarket trading Friday. Berkshire owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.

☆ Berkshire Hathaway boosts stake in Occidental Petroleum to 24.4%
▼ + stars: | 2023-05-18 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

May 18 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said on Thursday it had acquired more shares of Occidental Petroleum Corp (OXY.N), boosting its stake in the oil company to 24.4%. In a regulatory filing, the conglomerate controlled by billionaire Warren Buffett said it paid about $201 million for 3.46 million Occidental shares between May 16 and 18. Berkshire has bought Occidental shares on each of the last six trading days, paying about $327 million for 5.62 million shares. Berkshire also owns approximately $9.5 billion of Occidental preferred stock carrying an 8% annual dividend, plus warrants to buy $5 billion of Occidental common shares at $59.62 each. He also tried to end speculation that Berkshire might buy Occidental and further diversify its own energy portfolio.

☆ Occidental to favor buybacks over funding direct air capture plants
▼ + stars: | 2023-05-10 | by ( Sabrina Valle | ) www.reuters.com time to read: +2 min

HOUSTON, May 10 (Reuters) - Occidental Petroleum Corp (OXY.N) on Wednesday said it will distribute any excess cash from high oil prices to shareholders instead of funding direct air capture (DAC) plants. It is building its first large scale DAC plant in Texas. It is, however, lacking external funding to fulfill its plan to build more than 100 DAC units, starting with the second plant. Occidental on Tuesday reported adjusted income of $1.1 billion, missing analysts estimates amid a 20% decline in oil prices from a year ago. Results were primarily impacted by the timing of crude oil sales in the quarter, the company said.

OMAHA, Nebraska, May 6 (Reuters) - Warren Buffett said on Saturday that Berkshire Hathaway Inc (BRKa.N) is not planning to acquire Occidental Petroleum Corp (OXY.N) but remains happy with its large investment in the oil company. Speaking at Berkshire's annual shareholder meeting, Buffett rejected speculation that Berkshire would buy Occidental after having accumulated a 23.6% stake. "We will not be making any offer for Occidental," Buffett said. "Hollub is an extraordinary manager at Occidental," Buffett said. Last August, Berkshire won U.S. Federal Energy Regulatory Commission permission to buy up to 50% of Occidental's common stock.

☆ Warren Buffett says Berkshire Hathaway won't take full control of Occidental Petroleum
▼ + stars: | 2023-05-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Follow our live coverage of Warren Buffett at Berkshire Hathaway meeting. — Warren Buffett said Saturday that Berkshire Hathaway doesn't plan on taking full control of Occidental Petroleum , an oil giant where it has amassed a stake north of 20%. "There's speculation about us buying control, we're not going to buy control," the 'Oracle of Omaha' said at Berkshire's annual shareholder meeting. "We will not be making any offer for control of Occidental, but we love the shares we have," Buffett said. Berkshire owns $10 billion of Occidental preferred stock, and has warrants to buy another 83.9 million common shares for $5 billion, or $59.62 each.

April 11 (Reuters) - Mark Shafir, one of Citigroup Inc's (C.N) top dealmakers, is retiring after a career spanning over three decades during which he advised some of the world's largest corporations on several landmark deals. Shafir, who has led Citi's global mergers and acquisitions unit since joining the bank in 2008, will stay on till mid-May to help with the transition, according to an internal memo sent on Tuesday by Tyler Dickson and Manuel Falco, Citi's global co-heads of banking, capital Markets and advisory. Cary Kochman, who has served as co-head of global M&A at Citi alongside Shafir since 2017, will continue to lead the franchise. "(Mark) has been one of the lead drivers of our M&A business and has played a central role developing the franchise, which grew significantly under his leadership," Dickson and Falco said in the memo. Shafir was instrumental in shaping Citi's M&A franchise during his tenure and advised on several landmark transactions.

☆ As Buffett's Berkshire buys more Occidental, one firm says you should follow suit
▼ + stars: | 2023-03-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's buying spree of Occidental Petroleum is showing no signs of stopping, and Wall Street firm TD Cowen said investors should follow suit. Berkshire Hathaway purchased an additional 3.7 million Occidental shares for $216 million on Monday and last Thursday, boosting the conglomerate's stake in the Houston-based energy producer to 23.5%, a new regulatory filing showed. OXY 1Y mountain Occidental TD Cowen upgraded Occidental to outperform from market perform on Tuesday following the news. On top of Occidental's strong fundamentals, the Wall Street firm said the "captive buying support from Berkshire Hathaway" is a catalyst for the stock. "Berkshire buying shows little evidence of slowing," TD Cowen said.

☆ Warren Buffett shakes off recession fears as he piles another $216 million into Occidental Petroleum stock
▼ + stars: | 2023-03-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The investor's Berkshire Hathaway bought another $216 million or so of Occidental Petroleum stock. The famed investor's Berkshire Hathaway poured $216 million into Occidental Petroleum within the past three trading days, a Securities and Exchange Commission filing revealed Monday. Buffett's conglomerate scooped up nearly 3.7 million shares, boosting its stake to almost 212 million shares or 23.6% of the oil-and-gas company. Occidental stock rose 3% in premarket trading Tuesday, after the news. Berkshire received both the preferred stock and warrants in return for financing Occidental's takeover of Anadarko Petroleum in 2019.

☆ Warren Buffett's Berkshire Hathaway scoops up more Occidental shares on the oil dip
▼ + stars: | 2023-03-16 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett 's Berkshire Hathaway snapped up more shares of Occidental Petroleum , taking advantage of sliding oil prices amid the spreading banking crisis. The Omaha, Nebraska-based conglomerate bought 7.9 million shares in multiple trades on Monday, Tuesday and Wednesday, a new regulatory filing showed. That brought Berkshire's total number of shares in Occidental to 208 million shares, 23.1% of the oil giant's outstanding shares. The "Oracle of Omaha" had purchased 5.8 million shares for $352.5 million on March 3, March 4, and March 7. Occidental shares opened slightly lower on Thursday.

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