I can see why this stock is a Buffett favorite. Warren Buffett has been a net seller of stocks for seven consecutive quarters. He has also built Berkshire Hathaway's cash, cash equivalents, and short-term investments to nearly $277 billion -- the largest cash stockpile in the company's history. Has the legendary investor thrown in the towel on the stock market? Not completely. Buffett just bought shares in seven stocks. I think one stands out as the best of the bunch. Adding more Buffett added to Berkshire' ...

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 ...

HOUSTON, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced the launch of an underwritten secondary public offering of 29,560,619 shares of its common stock by CrownRock Holdings, L.P. (the "Selling Stockholder"). Occidental is not offering any shares of common stock in the offering. The Selling Stockholder will receive all of the proceeds from the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering ...

Occidental Petroleum is a well-oiled machine. Occidental Petroleum (OXY -0.20%) recently reported impressive second-quarter results. The oil company posted robust oil and gas production in the period and expectations-beating earnings in its midstream and marketing segment. It also reported strong earnings and cash flow. The oil stock's robust results must be music to Warren Buffett's ears. As Occidental's top shareholder, Buffett's company, Berkshire Hathaway, is participating in Occidental's success, which ...

Occidental Petroleum Corporation, Inc. (NYSE:OXY) Q2 2024 Earnings Conference Call August 8, 2024 1:00 PM ET Company Participants Jordan Tanner - VP, Investor Relations Vicki Hollub - President & CEO Sunil Mathew - SVP & CFO Richard Jackson - President, Operations, U.S. Onshore Resources and Carbon Management Kenneth Dillon - SVP & President, International Oil and Gas Operations Conference Call Participants Neil Mehta - Goldman Sachs Betty Jiang - Barclays Paul Cheng - Scotiabank Doug Leggate - Wolfe Resear ...

Occidental Petroleum Corporation (OXY) reported second-quarter 2024 earnings of $1.03 per share, which surpassed the Zacks Consensus Estimate of 77 cents by 33.8%. In the year-ago quarter, the company recorded earnings of 68 cents. Strong production volumes and improvement in oil and NGL prices resulted in a strong performance. GAAP earnings were $1.03 compared with 63 cents in the year-ago quarter. Total Revenues Total revenues came in at $6.88 billion, which lagged the Zacks Consensus Estimate of $7.18 bi ...

Earnings Performance - Occidental Petroleum reported quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.77 per share, representing a 33.77% earnings surprise [1][2] - This compares to earnings of $0.68 per share a year ago [1] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [2] Revenue Performance - Occidental posted revenues of $6.88 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.14% [3] - This compares to year-ago revenues of $6.73 billion [3] - The company has topped consensus revenue estimates two times over the last four quarters [3] Stock Performance and Outlook - Occidental shares have lost about 6% since the beginning of the year versus the S&P 500's gain of 9.9% [4] - The current consensus EPS estimate is $1.03 on $7.84 billion in revenues for the coming quarter and $3.60 on $29.26 billion in revenues for the current fiscal year [8] - The estimate revisions trend for Occidental is mixed, translating into a Zacks Rank 3 (Hold) for the stock [7] Industry Context - Occidental belongs to the Zacks Oil and Gas - Integrated - United States industry, which is currently in the bottom 39% of the 250 plus Zacks industries [9] - The top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [9] Peer Comparison - Berry Petroleum, another stock from the same industry, is expected to post quarterly earnings of $0.20 per share in its upcoming report, representing a year-over-year change of +33.3% [10] - The consensus EPS estimate for Berry Petroleum has been revised 1.7% higher over the last 30 days [10] - Berry Petroleum's revenues are expected to be $169.35 million, down 26.2% from the year-ago quarter [11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 1-9210 _____________________ | --- | --- | --- | |-----------------------------------------------------------------|---- ...

PRESS RELEASE Occidental Announces 2nd Quarter 2024 Results • Strong operational performance drove operating cash flow of $2.4 billion and operating cash flow before working capital of $3.0 billion • Capital spending of $1.8 billion and contributions from noncontrolling interest of $42 million resulted in quarterly free cash flow before working capital of $1.3 billion • Total company production of 1,258 Mboed exceeded the mid-point of guidance by 6 Mboed • Midstream and marketing exceeded guidance for pre-t ...