Past year: ▲ 41%(41.12 – 65.00 USD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Dec 2023capital raising announcement● NeutralMajor
On December 10, 2023 Occidental agreed to buy CrownRock, L.P. for about $12.0 billion: $9.1 billion in cash, 29,560,619 new Occidental common shares, and assumption of about $1.2 billion of CrownRock debt. It expects to fund the cash with debt, backed by a committed bank bridge loan of up to $10.0 billion from BofA (364-day). The deal still needs antitrust (HSR) clearance and other closing conditions; the new shares add some dilution.
15 July 2020capital raising announcement▼ Bad
On July 15, 2020 Occidental again paid the quarterly Series A preferred dividend in common stock, issuing 11,606,992 new shares to holders of record on June 30, 2020. This continues the April practice and adds further dilution to common shareholders; the filing states no reason for paying in stock.
15 Apr 2020capital raising announcement▼ BadMajor
On April 15, 2020 Occidental paid the quarterly dividend on the Series A preferred (the Berkshire Hathaway investment from the Anadarko deal) in common stock instead of cash, issuing 17,274,130 new common shares. This adds to the common share count and dilutes existing holders; the filing states no reason for paying in stock.
3 May 2019capital raising announcement● NeutralMajor
Occidental agreed on April 30, 2019 to sell Berkshire Hathaway $10 billion of new Series A preferred stock plus a warrant for 80,000,000 common shares at $62.50 each. The deal is conditional on Occidental completing its acquisition of Anadarko, so it is the financing for that bid. The preferred pays 8% (9% if dividends go unpaid) and ranks ahead of common shareholders; the warrant carries potential dilution for existing common holders.
