Occidental Petroleum (OXY) closed at $52.06 in the latest trading session, marking a +1.5% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%. Shares of the oil and gas exploration and production company have depreciated by 10.63% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.54%. T ...

This is one stock Buffett simply cannot stop buying. Berkshire Hathaway (BRK.A 0.89%) (BRK.B 0.93%) has been accumulating a position in Occidental Petroleum (OXY 0.47%) for some time and now owns more than 27% of the oil company. In this video, I sit down with energy sector expert Tyler Crowe to take a closer look at whether Occidental could be a smart buy while it's trading at a 52-week low. *Stock prices used were the morning prices of Sept. 12, 2024. The video was published on Sept. 13, 2024. ...

Occidental Petroleum aims to build out a leading carbon capture and sequestration business. Occidental Petroleum (OXY 0.12%) has long been a leader in using carbon dioxide in its oil business. It injects the greenhouse gas into underground oil reservoirs in the Permian Basin to boost the production of those legacy fields through a technique known as enhanced oil recovery (EOR). The oil company is now leveraging that expertise to become an early leader in carbon capture and sequestration (CCS). The oil compa ...

One of the Oracle of Omaha's favorite stocks to buy is Berkshire Hathaway's new leading provider of dividend income. If you've ever wondered why professional and everyday investors pay such close attention to what stocks Berkshire Hathaway (BRK.A -0.54%) (BRK.B -0.72%) CEO Warren Buffett is buying and selling, look no further than his track record. Since taking over as CEO in the mid-1960s, he's presided over an aggregate return in his company's Class A shares of almost 5,470,000%, as of the closing bell on ...

Oil Market Overview - WTI crude oil prices hit year-to-date lows due to supply/demand concerns, with China's economic weakness and near-record domestic production contributing to the bearish trend [1] - The Energy sector is the worst-performing area of the US stock market in 2024 [1] Occidental Petroleum (OXY) Performance - OXY shares have suffered, with a market cap of $47 billion and a low-teens P/E ratio, despite high cash flow per share and expected earnings improvements [1] - Q2 2024 non-GAAP EPS of $1.03 beat consensus by $0.26, and revenue of $6.88 billion exceeded expectations by $232 million, leading to a 4.3% share price increase [3] - OXY has seen 14 Wall Street EPS upgrades since Q2 results, compared to 8 downgrades [3] - The company raised production and capital spending guidance, following a $12 billion acquisition of CrownRock, which expanded its Midland Basin footprint [3] Valuation and Financial Metrics - OXY's forward P/E is 13.25, 21.17% higher than the sector median, but its forward PEG ratio of 0.76 is 46.11% below the sector median, indicating modest growth expectations [5] - The stock trades at a significant discount to its long-term average on a price-to-sales basis [4] - OXY's free cash flow yield is 9%, and its dividend yield is above the S&P 500 average, though lower than peers [3] Earnings and Growth Outlook - Analysts expect OXY's operating EPS to rise 3% in 2024, accelerating to $4.79 in 2025, with profit growth potentially slowing to just under $5 by 2026 [3] - Revenue growth is expected to be less optimistic in the near term [3] Technical Analysis - OXY shares are close to 20% undervalued, with a bearish technical situation and key support broken at $55, now acting as resistance [9] - A bearish measured move downside price target near $42 is possible, with potential support in the $36-$37 range [9] - The RSI momentum gauge indicates poor momentum, and the 200-day moving average suggests a bearish primary trend [9] Corporate Events - OXY's unconfirmed Q3 2024 earnings date is November 11 AMC, with a $0.22 quarterly dividend payable on October 15 [8] Competitive Position - OXY has a prominent position in the Permian Basin and is advancing carbon capture projects, setting it apart from competitors [3] - The company plans to pay down debt from the CrownRock acquisition within a year, despite a modest increase in debt burden [3] Conclusion - Despite bearish technicals, OXY is viewed as a fundamental value case with potential EPS upside, making it a buy-rated stock [10]

Even after one of Wall Street's best investors, Warren Buffett bought up to 29% of Occidental Petroleum Co. NYSE: OXY, the stock has been downward and now trades at a new 52-week low. Has the Oracle of Omaha lost his touch? Bears could criticize his timing, but the reality is that the short term doesn't matter for investors like Buffett, but rather the coming few quarters. Occidental Petroleum Today OXY Occidental Petroleum $53.74 -0.89 (-1.63%) 52-Week Range $53.60 ▼ $71.18 Dividend Yield 1.64% P/E Ratio 1 ...

The oil company is working to whittle down its debt. Occidental Petroleum (OXY -2.13%) recently closed its $12 billion acquisition of CrownRock. The deal will significantly enhance its position in the Permian Basin and free cash flow. However, it also loaded the company with debt. The company borrowed $9.1 billion to close the deal and assumed $1.2 billion of CrownRock's existing debt. The oil company plans to significantly reduce its debt in the coming years to ease the potential pressure on its balance sh ...

Investors eagerly await Berkshire Hathaway's NYSE: BRK.B 13F filing every quarter, unveiling Warren Buffett's latest stock moves. This event is closely watched as it offers a rare glimpse into the strategies of one of the greatest investors of all time. Among the most recent highlights from the second quarter of 2024 is Berkshire's increased stake in Occidental Petroleum NYSE: OXY, which has been a significant part of Buffett's portfolio for the past few years. Get Occidental Petroleum alerts: Buffett's His ...

Achieved $3 billion in principal debt reduction in the third quarter of 2024 Public offering of a portion of Occidental's common units of Western Midstream Partners, LP, raised $700 million, bringing total 2024 year-to-date closed or announced divestments to approximately $1.7 billion Following close of the previously announced Delaware Basin Barilla Draw divestiture, which is expected late in the third quarter, Occidental expects a total year-to-date reduction of over $3.8 billion in principal debt HOUSTON ...

Occidental Petroleum is cashing in on its MLP. Occidental Petroleum (OXY -2.58%) recently closed its needle-moving acquisition of CrownRock. It paid $12 billion for the fellow oil company, which will significantly enhance its position in the prolific Permian Basin. The acquisition should also boost its annual free cash flow by about $1 billion. However, the oil stock took on a boatload of debt to close the deal (it issued $9.1 billion of new debt while also assuming $1.2 billion of CrownRock's existing debt ...