Occidental Petroleum Files 8-K Report
Ticker: OXY-WT · Form: 8-K · Filed: Oct 25, 2024 · CIK: 797468
| Field | Detail |
|---|---|
| Company | Occidental Petroleum Corp /De/ (OXY-WT) |
| Form Type | 8-K |
| Filed Date | Oct 25, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.20, $51.51, $53.91, $51.22 |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, regulatory
Related Tickers: OXY
TL;DR
OXY filed a routine 8-K, no major news.
AI Summary
On October 25, 2024, Occidental Petroleum Corporation filed an 8-K report detailing an "Other Event." The filing does not contain specific financial figures or new material agreements, but rather standard reporting information for the company.
Why It Matters
This filing indicates that Occidental Petroleum is adhering to its reporting obligations with the SEC, providing transparency to investors about its corporate activities.
Risk Assessment
Risk Level: low — The filing is a standard 8-K report and does not disclose any new risks or material adverse events.
Key Players & Entities
- Occidental Petroleum Corporation (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- Houston, Texas (location) — Principal Executive Offices
FAQ
What is the primary purpose of this 8-K filing for Occidental Petroleum?
The primary purpose is to report an 'Other Event' as required by the Securities Exchange Act of 1934, fulfilling its regulatory obligations.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is October 25, 2024.
Where are Occidental Petroleum's principal executive offices located?
Occidental Petroleum's principal executive offices are located at 5 Greenway Plaza, Suite 110, Houston, Texas 77046.
What is the company's IRS Employer Identification Number?
The company's IRS Employer Identification Number is 95-4035997.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 930 words · 4 min read · ~3 pages · Grade level 12.3 · Accepted 2024-10-25 16:34:12
Key Financial Figures
- $0.20 — nge on Which Registered Common Stock, $0.20 par value OXY New York Stock Exchan
- $51.51 — on shares of Occidental common stock at $51.51 per share, which represents approximate
- $53.91 — al common stock as of October 14, 2024 ($53.91 per share), the last trading day before
- $51.22 — Occidental's stock price not fall below $51.22 per share (5% less than the October 14
Filing Documents
- ef20037703_8k.htm (8-K) — 30KB
- 0001140361-24-044281.txt ( ) — 203KB
- oxy-20241025.xsd (EX-101.SCH) — 4KB
- oxy-20241025_def.xml (EX-101.DEF) — 17KB
- oxy-20241025_lab.xml (EX-101.LAB) — 26KB
- oxy-20241025_pre.xml (EX-101.PRE) — 19KB
- ef20037703_8k_htm.xml (XML) — 6KB
01
Item 8.01 Other Events Occidental Petroleum Corporation ("Occidental") has received notice of an unsolicited "mini-tender offer" made by TRC Capital Investment Corporation ("TRC") to Occidental shareholders to purchase up to 2 million shares of Occidental common stock at $51.51 per share, which represents approximately 0.2 percent of the common shares outstanding as of the October 15, 2024 offer date. Occidental does not endorse TRC's unsolicited offer, has no association with TRC, its mini-tender offer or the mini-tender offer documentation, and recommends that shareholders do not tender their shares in response to the offer. The offer is at a price below the current market price for Occidental shares and is at an approximate 4.45% discount to the closing price of Occidental common stock as of October 14, 2024 ($53.91 per share), the last trading day before the mini-tender offer commenced. Market volatility before the expiration of the mini-tender offer may cause the value of Occidental common stock trading in the open market to be higher (as it was on the day the offer was commenced) or lower than the value offered by TRC. If the market price of Occidental shares is at or above the offer price at the expiration of the tender offer, shareholders may receive more cash by selling their shares on the open market rather than by tendering them in the offer. Additionally, TRC's offer is subject to numerous conditions, including that Occidental's stock price not fall below $51.22 per share (5% less than the October 14 closing price of $53.91). TRC has made many similar mini-tender offers for shares of other companies and has previously made similar mini-tender offers for shares of Occidental. Mini-tender offers seek to acquire less than 5 percent of a company's shares outstanding, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission ("SEC") that apply to offers for more than 5 percent of a company's shares outst