Occidental petroleum corporation

Tracking COVID-19 at the Speed of the Market: Wall Street Horizon Alerts Institutional Traders of Major Changes that Foretell Volatility Across Crude Oil Producers

COVID-19 has decimated China’s crude oil demand causing global oil price benchmarks to precipitously drop.

Having said that, during market hours on March 10, 2020 12:00:59 PM, Occidental Petroleum (NYSE: OXY) posted to their corporate website that they were making a major change to their dividend structure.

Occidental reduced its quarterly dividend to $0.11 per share, down from $0.79 per share, to be effective July 2020.

At precisely 12:01:00 PM, Wall Street Horizon informed its clients of the change – notification in a millisecond.

Preceding this important change, Wall Street Horizon (which also tracks company lawsuits) informed clients on March 2, 2020 of a securities fraud lawsuit, providing original source content regarding a possible failure to disclose important information and detail regarding the pending litigation.

Still, even prior to that, on January 16, 2020, Wall Street Horizon alerted institutional traders and risk managers of a “DateBreaks Change” and that Occidental was telegraphing poor “corporate body language” in terms of their upcoming earnings announcement by delaying their Wall Street Horizon forecasted earnings date of February 12, 2020 to February 27, 2020. 

That is, as far back as January 16, 2020, Wall Street Horizon was alerting clients that OXY was delaying their earnings announcement date by 15 days.

Occidental Petroleum Corporation Corporate Events Calendar

Delays in earnings date announcements have been shown to foretell bad news. But don’t take our word for it. Check out the MIT Sloan School of Management and University of Texas “Time Will Tell” research paper

Are you impacted by the wholesale changes in the energy landscape? Are you an institutional investor or risk manager who wants to better monitor their portfolio and to receive these alerts as they occur in market time?

If so, we invite you to speak with our Director of Quantitative Solutions, Michael Raines. Learn more about how to customize Wall Street Horizon data to your specific needs. We can also set you up for a no-cost 90-day trial.