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Warren Buffett, the ‘Oracle of Omaha’, is one of the most renowned investors to ever live. Through judicious stock picks based on a philosophy of value investing, the billionaire and his company, Berkshire Hathaway, have managed to beat the market consistently.On February 14, Berkshire released its Q4 2024 13-F filing, giving investors a closer look at Buffett’s stock portfolio as of December 31. For the past few quarters, the company has been a net seller of stocks. In addition, the billionaire is sitting ...

Occidental Petroleum Corporation (OXY) reported fourth-quarter 2024 earnings of 80 cents per share, which surpassed the Zacks Consensus Estimate of 67 cents by 19.4%. In the year-ago quarter, the company recorded earnings of 74 cents per share.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.GAAP loss in the reported quarter was 32 cents per share against earnings of $1.08 in the year-ago quarter.Adjusted earnings in 2024 were $3.46 per share, down 6.5% year over year from $3.70 r ...

Occidental Petroleum (OXY 4.40%) has grabbed the attention of Warren Buffett's company, Berkshire Hathaway (BRK.A 0.12%) (BRK.B 0.20%). That's abundantly clear in Berkshire's buying binge of Occidental's stock. Buffett's company recently bought another $35.7 million of the oil stock, boosting its stake to 28.8% of its outstanding shares. That makes Occidental its sixth largest holding, at 4.3% of its investment portfolio. Those who wonder what Buffett's company sees in Occidental need to look no further tha ...

Occidental’s NYSE: OXY stock price struggles are over. The market corrected to long-term lows, aligning with Warren Buffet’s initial entries into the stock and is set up for a strong rebound. Factors pointing to such a rebound include the results, the balance sheet and capital returns, analysts' sentiment, and Mr. Buffett himself. Regarding his activity, Berkshire Hathaway made predictable purchases in early February that confirm the bottom indicated in December. The December bottom, coincidentally, was als ...

We now know what Warren Buffett was up to during the fourth quarter of 2024. Berkshire Hathaway (BRK.A 0.12%) (BRK.B 0.20%) submitted its 13F filing to the U.S. Securities and Exchange Commission (SEC) last week. This filing revealed all the stocks Buffett and his team bought and sold during Q4.Two familiar names made the list of Buffett's recent purchases: Occidental Petroleum (OXY 4.40%) and SiriusXM Holdings (SIRI -4.98%). Why does Buffett keep piling into two beaten-down stocks that have plunged more th ...

US E&P Occidental Petroleum (NYSE: OXY ) reported strong Q4 earnings, beating ~11% on EPS and delivering ~$4.4B in annualized free cash flow (up 27% y/y) on record US production. We believe the quarter continues the operational momentum the company has enjoyed since the CrownRock acquisition, with better than expectedAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote ...

Occidental Petroleum Corporation (NYSE:OXY) Q4 2024 Earnings Conference Call February 19, 2025 1:00 PM ET Company Participants Jordan Tanner - VP, IR Vicki Hollub - President & CEO Sunil Mathew - SVP & CFO Ken Dillon - SVP & President, International Oil and Gas Operations Richard Jackson - President, Operations, U.S. Onshore Resources and Carbon Management Conference Call Participants Arun Jayaram - JP Morgan Betty Jiang - Barclays Neal Dingmann - Truist Securities Paul Cheng - Scotiabank Roger Read - Wells ...

Financial Data and Key Metrics Changes - In 2024, Occidental Petroleum Corporation generated $4.9 billion of free cash flow and paid approximately $800 million in common dividends, achieving its near-term debt repayment target of $4.5 billion seven months ahead of schedule [7][8] - The company reported an adjusted profit of $0.80 per diluted share and a reported loss of $0.32 per diluted share due to an increase in long-term environmental remediation liability [40][41] - The company ended 2024 with over $2.1 billion of unrestricted cash after repaying $500 million of debt [45] Business Line Data and Key Metrics Changes - The OxyChem business generated over $1.1 billion in pre-tax income in 2024, exceeding original guidance [15] - The midstream segment outperformed, with adjusted pre-tax income surpassing the midpoint of the original full-year guidance by approximately $600 million [57] - The Oil and Gas segment achieved record production of 1.33 million BOE per day in 2024, exceeding the upper end of full-year guidance [10][12] Market Data and Key Metrics Changes - The company’s US onshore production was driven by strong performance in the Delaware, TJ, Midland, and Powder River Basins, contributing to record production levels [10][11] - The company expects full-year production in 2025 to average approximately 1.42 million BOE per day, representing mid-single-digit growth from 2024 [47] Company Strategy and Development Direction - The company aims to maximize cash flow by investing primarily in short-cycle, high-return assets while advancing mid-cycle projects for future cash flow resilience [34] - The company plans to continue deleveraging and has authorized a 9% increase in its common dividend [24] - Major projects like Stratos and Battleground are expected to enhance cash flow and improve market position [25][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $15 billion net debt target by early 2027, despite commodity price fluctuations [92] - The company highlighted a commitment to operational excellence and innovation, with a focus on safety and sustainability [65] - Management noted that 2025 will be an exciting year with improved technical capabilities and asset portfolio [66] Other Important Information - The company achieved a reserves replacement ratio of 230% for 2024, with a year-end proved reserve balance of 4.6 billion BOE, the highest in its history [12] - The company is advancing its direct air capture (DAC) technology, which is expected to deliver long-term value and contribute to US energy security [18][20] Q&A Session Summary Question: Gulf of Mexico outlook for 2025 - Management indicated a busy year ahead with maintenance and drilling activities expected to add significant production [74][75] Question: Extension of the Echo Patrol JV in the Midland Basin - Management confirmed similar terms to previous agreements and plans to drill about 23 wells [80] Question: Rockies program in 2025 and its evolution - Management acknowledged lower activity levels but highlighted embedded efficiencies and infrastructure investments in the Rockies [86][89] Question: Debt reduction trajectory towards $15 billion target - Management remains comfortable with the timeline, projecting early 2027 for achieving the target [92] Question: 2025 guidance on production and service costs - Management expects a 7% improvement in drilling and completion costs, driven by operational efficiencies [99] Question: International M&A considerations - Management expressed satisfaction with current international assets and plans for growth in existing operations [103] Question: Permian oil cut increase in 2025 - Management confirmed an increase in oil cut due to unconventional growth and contributions from Crown Rock [112][116]

Fourth Quarter Earnings Conference Call 02.19.25 CAUTIONARY STATEMENTS 2 Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about Occidental Petroleum Corporation's ("Occidental" or "Oxy") expectations, beliefs, plans or forecasts. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptio ...