Streetbeat News

Dividends

OXY

Occidental Petroleum Corp (NYSE:OXY) is acquiring CrownRock L.P. for $12 billion, including debt assumption, to expand its presence in the Permian Basin. The deal adds 94,000 net acres and is expected to increase production by 170 Mboed in 2024. Occidental plans to finance the acquisition with $9.1 billion in new debt, $1.7 billion in common equity, and assuming $1.2 billion of CrownRock's debt. The acquisition is anticipated to increase free cash flow per diluted share, with $1 billion expected in the first year at $70 per barrel WTI. The transaction should close in Q1 2024, and Occidental will also raise its quarterly dividend to $0.22 starting February 2024. OXY shares dropped 0.58% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 11, 2023 | 1:40 pm

AGNC

NYMT

TRTX

The article highlights three high-yielding dividend stocks in the financial sector that have been rated by Wall Street's most accurate analysts. AGNC Investment Corp. (AGNC) has a dividend yield of 15.78% and received mixed ratings with a recent positive earnings report. TPG RE Finance Trust, Inc. (TRTX) offers a 15.74% yield but had a price target cut following downbeat sales. New York Mortgage Trust, Inc. (NYMT) yields 13.42% and also saw a price target adjustment after reporting weaker sales.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 1:14 pm

OXY

Occidental (OXY) plans to increase its quarterly common stock dividend from $0.18 to $0.22 per share starting February 2024. The company also announced the acquisition of CrownRock's assets, which is expected to add scale in the Midland Basin and drive value creation for shareholders with immediate free cash flow accretion. Occidental's CEO Vicki Hollub expressed confidence in integrating CrownRock's team and continuing Occidental's operational and financial success. CrownQuest Operating CEO Tim Dunn praised the acquisition as beneficial for all parties involved.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 12:43 pm

JCI

Johnson Controls International plc (NYSE:JCI) is expected to report increased earnings for Q4 fiscal 2023, with estimates of $1.09 per share compared to $0.99 in the previous year. Revenue is also anticipated to rise to $7.09 billion from $6.72 billion. The company has declared a quarterly dividend of $0.37 per share. JCI's stock closed up 1.1% on Friday. Analysts from UBS, Citigroup, Morgan Stanley, RBC Capital, and Barclays have provided ratings and adjusted price targets for JCI, with varying degrees of accuracy.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 11:10 am

AES

BLBD

CASY

MLSS

ORCL

Investors are watching several stocks as U.S. futures trade mixed. Oracle (ORCL) is expected to report earnings of $1.32 per share on $13.05 billion revenue. AES (AES) raised its dividend, resulting in a slight stock increase. Casey's General Stores (CASY) is anticipated to report earnings of $3.73 per share on $4.06 billion revenue. Milestone Scientific (MLSS) announced a public offering, causing its stock to dip. Blue Bird Corporation (BLBD) is expected to post earnings of 48 cents per share on $290.11 million revenue, with its stock also declining after hours.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 9:42 am

AES

The AES Corporation (NYSE:AES) has announced a 4% increase in its quarterly common stock dividend, from $0.1659 to $0.1725 per share, starting in Q1 2024. The increased dividend is payable on February 15, 2024, to shareholders on record as of February 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:01 pm

AIN

Albany International Corp. (NYSE:AIN) has announced an increase in its quarterly cash dividend from $0.25 to $0.26 per share, a 4% rise. The new dividend will be payable on January 8, 2024, to shareholders of record as of December 19, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:21 pm

WRB

W. R. Berkley Corporation (NYSE:WRB) has declared a special cash dividend of $0.50 per share, payable on December 27, 2023, to shareholders of record as of December 18, 2023. This brings the total special dividends in 2023 to $1.50 per share. Additionally, a regular quarterly dividend of $0.11 per share will be paid on the same date. The total capital returned to shareholders in 2023, including dividends and share repurchases, is approximately $932 million.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:16 pm

AVGO

Broadcom's stock is up following mixed Q4 results, with revenue guidance for FY24 surpassing expectations. The company also raised its dividend.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:32 pm

CMTL

CURV

CYN

HCP

INTS

MBI

U.S. stocks saw gains with the Dow Jones rising over 100 points. Energy shares led the gains, while real estate lagged. Intensity Therapeutics' shares surged 83% after presenting positive data, MBIA spiked 77% following an extraordinary dividend announcement, and Torrid Holdings climbed 21% on strong financial results. Conversely, Cyngn, HashiCorp, and Comtech Telecommunications saw significant drops after negative announcements. Oil prices increased, gold declined, and the U.S. non-farm payrolls and unemployment rate showed positive signs.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 7:59 pm