Occidental Petroleum News
Commodity hedge fund Astenbeck Capital Management LLC posted a 7.7% gain in February, Reuters reported Friday, citing a note to investors.According to the report, the monthly gain was Astenbeck's highest since October 2011.
Famed oil bull Andy Hall's hedge fund rose nearly 8 percent in February in its biggest monthly gain in 2-1/2 years, boosted by a rally in crude oil that could help Occidental Petroleum's chances of selling its stake in the fund. Occidental (OXY), which acquired a 20 percent stake in Hall's Connecticut-based Astenbeck fund and trading house Phibro in 2009, said last month it wanted to reduce proprietary trading activities. Oxy, as it is known, has not said anything specific about selling Astenbeck or Phibro, which does some of its proprietary trading, mainly in crude oil and select commodities such as natural gas, platinum and corn. "Everything else being equal, a more profitable Astenbeck is certainly a useful backdrop for Oxy in any negotiations with buyers," said Pavel Molchanov, an analyst who follows Occidental for New York's Raymond James Financial.
Benchmarks ended Thursday’s trading session on a mixed note
TheStreet Ratings team reiterated 3 stocks with a buy rating on Friday
The trading panel considered how much longer this bull market can run.
Devon Energy Corporation announced an increase in the quarterly cash dividend from 22 cents per share to 24 cents per share
Benchmarks finished Wednesday’s trading session nearly flat as investors received discouraging economic reports
BP is creating a new business to manage its US onshore oil and gas assets, in an effort to compete more effectively with the smaller independent companies that dominate America's shale industry. Analysts ...
A Wall Street Transcript Interview with Leo Mariani, U.S. Oil and Gas Exploration and Production Analyst with RBC Capital Markets: Opportunities for Independent E&Ps in Shale Gas and OilYahoo 03/03 10:44 ET
Occidental Petroleum Corporation was a winner within the energy industry, rising $0.99 (1.0%) to $96.52 on average volume
TheStreet highlights 3 stocks pushing the basic materials sector higher today.