Latest news for Worley (OTC:WYGPF) Stock

Worley is a leading global provider of professional services, such as engineering, procurement, and construction management, to the oil, gas, mining, power, and infrastructure sectors. Purchase of Jacobs ECR in April 2019 reduced revenue contribution from hydrocarbons to just over 50%, from a prior 75%-80% position. Metals and mining contributes 23% and infrastructure and chemicals the balance. Worley has a global presence with about 59,000 staff in more than 50 countries. It has a strong presence in many developing economies, including Africa.

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Truist Securities analyst Neal Dingmann reiterated a Buy rating on the shares of Occidental Petroleum Corp (NYSE: OXY) with a price target of $80.00.

Occidental Petroleum&#39;s Bold $1.1B Move Into DAC: Analyst Deciphers The Future Impact On Revenue And Debt

Worley Ltd

Worley Limited (AU:WOR) has released an update. Worley Limited reported a strong start to FY25 with 1,048 sustainability-related project awards in ...

Worley Limited Sees Strong Start to FY25 with Sustainability Wins

Worley Limited (AU:WOR) has released an update. Worley Limited has successfully passed several resolutions at its Annual General Meeting, including...

Worley Limited's AGM Resolutions and Strategic Moves

In a report released on November 21, Niraj Shah from Goldman Sachs maintained a Buy rating on Worley Limited (WYGPF – Research Report), with a pric...

Worley Limited (WYGPF) Receives a Buy from Goldman Sachs

Oil stocks could see a major boom in the next four years as incoming President Donald Trump wants to ease restrictions.

Will Trump Create a Boom for Oil Stocks?

Worley Limited (AU:WOR) has released an update. Worley Limited has announced a change in the interest of its director, Martin Lee Parkinson, who ac...

Worley Limited's Director Increases Shareholding

Worley Limited (AU:WOR) has released an update. Worley Limited has announced a change in the indirect interest of one of its directors, Joseph Chaf...

Worley Limited Director Increases Shareholding

In a report released on December 5, Niraj Shah from Goldman Sachs maintained a Buy rating on Worley Limited (WYGPF – Research Report), with a price...

Goldman Sachs Sticks to Its Buy Rating for Worley Limited (WYGPF)

Worley Limited (AU:WOR) has released an update. Worley Limited has announced the issuance of 3,682,249 unquoted performance rights as part of its e...

Worley Limited Issues New Employee Incentive Securities

Worley Limited (AU:WOR) has released an update. Worley Limited announced a change in the interest of Director Robert Christopher Ashton, who acquir...

Worley Limited Director Increases Equity Holdings

Worley Limited (AU:WOR) has released an update. Worley Limited has announced the lapse of 65,918 performance rights as the conditions for these sec...

Worley Limited Updates on Lapsed Performance Rights

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Truist Securities&nbsp;analyst Neal Dingmann reiterated a Buy rating on the shares of&nbsp;Occidental Petroleum Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a price target of $80.00.

Occidental announced the $1.1 billion acquisition of existing technology provider&nbsp;Carbon Engineering Ltd&nbsp;in order to expedite&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/33871148/occidental-petroleum-inks-1-1b-acquisition-deal-to-accelerate-net-zero-strategy" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">future direct air recapture (DAC) projects.</a>

While the purchase price is not terribly material for OXY, the purchase price is large enough to understand the company&rsquo;s future DAC focus, noted the analyst.

While the analyst would have likely preferred OXY to use the $1.1 billion for debt repayment first, the analyst understands the need to strengthen the DAC iron is hot.&nbsp;

The analyst believes the new company should soon generate incremental revenue from technology licensing and royalties, among other things.

Following last week&rsquo;s DOE announcement of OXY&rsquo;s IRA-funded award regarding the South Texas DAC Hub, today&rsquo;s acquisition reinforces OXY&rsquo;s long-term commitment towards DAC technology playing a key role in the company&rsquo;s low carbon ventures, said the analyst.

The deal, according to the analyst, not only brings the IP rights and expertise under the OXY umbrella through its&nbsp;1PointFive&nbsp;subsidiary, but it also creates a new technology based revenue stream through licensing and royalties agreements of Carbon Engineering&rsquo;s technology.

OXY has a DAC specific construction partnership with global engineer and constructor,&nbsp;Worley Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/WYGPF#OTC">WYGPF</a>) that will likely continue to grow alongside the DAC program, added the analyst.

Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/33747810/occidental-subsidiary-1pointfive-bags-us-doe-grant-to-develop-south-texas-direct-air-capture-hub" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Occidental Subsidiary 1PointFive Bags US DoE Grant To Develop South Texas Direct Air Capture Hub</a>

Price Action: OXY shares are trading higher by 0.81% at $63.03&nbsp;on the last check Wednesday.

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Wednesday, August 16, 2023

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