Summary by Moomoo AI
Occidental Petroleum Corporation (Occidental) has announced the offering of 29,560,619 shares of common stock by a selling stockholder, CrownRock Holdings, L.P., as detailed in a preliminary prospectus supplement filed with the SEC. The shares are being offered pursuant to Rule 424(b)(7) with the sale proceeds going directly to the selling stockholder, CrownRock Holdings, L.P., and not to Occidental. The common stock is traded on the New York Stock Exchange under the symbol 'OXY.' As of August 12, 2024, the last reported sale price was $58.98 per share. The offering is subject to completion and the shares will be available for sale at market prices or negotiated prices. The underwriters for the offering are J.P. Morgan, Morgan Stanley, and RBC Capital Markets, with the expected delivery of shares on or about a to-be-determined date in 2024.