HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced its second 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 Thursday, August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. The conf ...

Occidental Petroleum Corp OXY shares are oversold. They are also at support. And stocks that are oversold and at support tend to rally. That's why our team of trading experts has identified it as our Stock of the Day. Most of the time, a stock stays within its typical or average trading range. But if sellers are extremely aggressive and push the shares below this range, traders say that it is "oversold." This is important because it will draw buyers into the market. They will be expecting a reversion back t ...

Company Overview - Occidental Petroleum (OXY) is a leading energy stock with a robust portfolio of upstream assets in the United States, Middle East, and Latin America, as well as a strong pipeline business [2] - The company is a core holding in the Berkshire Hathaway portfolio, providing approximately $56 million ($224 million annualized) in quarterly dividend income to Berkshire Hathaway from its common stock ownership [2] Dividend Analysis - Occidental Petroleum's dividend is secure due to strong free cash flow, driven by its U.S. onshore assets, midstream, and OxyChem businesses [4] - In Q1 2024, the company reported free cash flow of over $700 million, more than covering the $332 million paid out in dividends for common and preferred stocks [4] - The quarterly dividend payment on common stock was $0.22 per share in Q1 2024, with a forward dividend yield of approximately 1.5% [4] - In 2023, Occidental generated $5.5 billion in free cash flow, adequately covering the $1.3 billion paid out in total dividends [5] Future Outlook - Management anticipates strong free cash flow generation following the CrownRock acquisition, expected to close in Q3 2024 [5] - Prospective investors should monitor the company's financial results reporting on Aug 7 for further insights into its financial health [6]

HOUSTON, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that it has elected to terminate its previously announced offer to exchange (the "Exchange Offer") any and all outstanding 5.000% Senior Notes due 2029 (the "CrownRock Notes") issued by CrownRock, L.P. ("CrownRock") and CrownRock Finance, Inc. ("CrownRock Finance" and, together with CrownRock, the "CrownRock Notes Issuers") for up to $376,084,000 aggregate principal amount of new 5.000% Senior Notes due 2029 to be issued by Oc ...

HOUSTON, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that it has elected to terminate its previously announced offer to exchange (the "Exchange Offer") any and all outstanding 5.000% Senior Notes due 2029 (the "CrownRock Notes") issued by CrownRock, L.P. ("CrownRock") and CrownRock Finance, Inc. ("CrownRock Finance" and, together with CrownRock, the "CrownRock Notes Issuers") for up to $376,084,000 aggregate principal amount of new 5.000% Senior Notes due 2029 to be issued by Oc ...

HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) announced today that it has closed its acquisition of CrownRock, L.P. "By completing this transaction, Occidental adds assets that we believe make the best portfolio in our company's history even stronger and more differentiated. We also welcome new team members who will combine with ours to form a high-performing employee base that is focused on safely and efficiently developing low-emission, low-cost energy," said President and Chief Execut ...

HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) announced today that it has closed its acquisition of CrownRock, L.P. "By completing this transaction, Occidental adds assets that we believe make the best portfolio in our company's history even stronger and more differentiated. We also welcome new team members who will combine with ours to form a high-performing employee base that is focused on safely and efficiently developing low-emission, low-cost energy," said President and Chief Execut ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Occidental Petroleum (OXY) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. This oil and gas exploration and production company is expected to post quarterly earnings of $0.80 per share in its upcoming report, which ...

Prior to today's trading, shares of the oil and gas exploration and production company had lost 4.29% over the past month. This has was narrower than the Oils-Energy sector's loss of 10.92% and lagged the S&P 500's gain of 0.1% in that time. Any recent changes to analyst estimates for Occidental Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the c ...

One of Warren Buffett's favorite holdings, Occidental Petroleum (NYSE: OXY), just exhibited a "Death Cross" pattern on its stock chart following a period of significant volatility, potentially foreshadowing a further decline in price. As of the latest close, OXY shares are trading at $60.18, decreasing 0.59% in the latest trading session, thus adding to the losses of 1.71% suffered in the bearish signal that forebodes a period of diminished returns. Amid the weaker performance of the overall energy sector i ...