HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced its third quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company will hold a conference call to discuss the results on Wednesday, November 13, 2024, at 1 p.m. Eastern/12 p.m. Central. The c ...

Share Information - Average diluted shares outstanding for Q3 2024 were 975.7 million shares[2] Oil Prices - Average realized oil prices in the United States were $74.81 per barrel, internationally $78.54 per barrel, and worldwide $75.33 per barrel[3] - Worldwide oil realized prices were 100% of average WTI and 96% of average Brent prices[3] NGL Prices - Average realized NGL prices in the United States were $19.50 per barrel, internationally $28.48 per barrel, and worldwide $20.47 per barrel[3] - Worldwide NGL realized prices were 27% of average WTI prices[3] Natural Gas Prices - Average realized natural gas prices in the United States were $0.40 per Mcf, internationally $1.90 per Mcf, and worldwide $0.76 per Mcf[3] - Domestic natural gas realized prices were 17% of average NYMEX prices[3] Acquisitions and Integration - The company completed the acquisition of CrownRock, L.P., with associated integration and financial projection risks[5] Risks and Uncertainties - Occidental faces uncertainties in oil, NGL, and natural gas reserve estimates and production levels[5] - The company is exposed to risks from global economic conditions, commodity price volatility, and regulatory changes[5]

The market expects Occidental Petroleum (OXY) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 12, 2024, might help the stock move higher if these key ...

The Occidental Petroleum Headquarters is seen on December 11, 2023 in The Woodlands, Texas. Getty ImagesOccidental Petroleum Corporation (Oxy) are embarking on a spectacular venture to reduce greenhouse gas (GHG) emissions in the Permian basin. Warren Buffet is riding along, owning 29% of Oxy stock. What do Oxy and Warren Buffet see that others don’t?The Concept Of Direct Air CaptureVicki Hollub, who is chairman of Oxy, dangles the tantalizing idea that if we could remove enough CO2 from the sky, we could s ...

Occidental Petroleum Corporation's (OXY) shares are currently trading at a premium compared to its Zacks Oil and Gas - Integrated - United States industry. OXY's current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA) is 5.3X compared with the industry average of 4.51X. It indicates that the company is presently marginally overvalued compared to its industry. Another company operating in this space, ConocoPhillips (COP) , is trading EV/EBITDA of 5.09 ...

The oil company is steadily reducing its reliance on oil and gas. Occidental Petroleum (OXY -1.09%) is one of the country's largest oil and gas producers. It recently increased its exposure to the oil market by acquiring CrownRock in a $12 billion deal. That acquisition will add $1 billion to the company's annual free cash flow, assuming oil prices average around $70 a barrel. Unfortunately for Occidental, crude prices have recently slumped below that level. While lower oil prices will affect the company's ...

You may be shocked by how much stock is needed to generate $1,000 in dividend income from owning shares of Occidental Petroleum.Occidental Petroleum (OXY 0.45%) is one of the largest oil and gas producers in the world.So, how many shares do you need to own to generate $1,000 in dividend income? In the simplest terms, someone would need to own 1,137 shares of Occidental stock. Each share of Occidental pays $0.22 in dividends each quarter, which totals $0.88 per share annually. That means a person who owns 10 ...

Occidental Petroleum (OXY) closed at $51.58 in the latest trading session, marking a +0.45% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.03%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.56%.Prior to today's trading, shares of the oil and gas exploration and production company had gained 2.89% over the past month. This has outpaced the Oils-Energy sector's loss of 10.96% and the S&P 500's gain of 1.39% in that time.The investment commu ...

Despite what Warren Buffett’s overall reputation might suggest, not all of his stock picks have been winners.In 2024, this fact is showcased by the fortunes of ‘The Oracle of Omaha’s’ sixth-largest bet and second-biggest energy holding, Occidental Petroleum (NYSE: OXY), which is, at press time on October 23, trading near its 2.5-year lows.Indeed, OXY stock – which made up 5.6% of the Buffett portfolio, per the latest 13-f filing – is 13.24% in the red year-to-date (YTD) and an even deeper 17.06% down in the ...

Berkshire Hathaway is arguably always Buffett's favorite stock. But another stock commands a strong second place. Many investors (including me) have observed that Warren Buffett has built a massive cash stockpile for Berkshire Hathaway (BRK.A -0.25%) (BRK.B 0.03%). Many have also noticed Buffett has been a net seller of stocks for seven consecutive quarters. Does this mean the legendary investor can no longer find any stocks he likes? Not at all. Buffett isn't buying many stocks, but he's still buying some. ...