HOUSTON, April 02, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) will announce its first quarter 2025 financial results after close of market on Wednesday, May 7, 2025, and will hold a conference call to discuss the results on Thursday, May 8, 2025, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sr ...

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Core Viewpoint - Occidental Petroleum Corporation announced the results of its warrant exercise offer, which expired on March 31, 2025, at a reduced price of $21.30 per warrant [1][2]. Group 1: Warrant Exercise Results - A total of 41,941,075 warrants were tendered, resulting in the issuance of 41,871,909 shares of common stock and generating $891.9 million in proceeds [2]. - If all guaranteed deliveries are completed, an additional 69,166 shares will be issued, bringing in an extra $1.5 million [2]. - The remaining warrants not exercised will continue to be valid at an exercise price of $22.00 per warrant [2]. Group 2: Company Overview - Occidental is a major international energy company with significant assets in the U.S., Middle East, and North Africa, and is one of the largest oil and gas producers in the U.S. [4]. - The company operates in various segments, including midstream and marketing, and is focused on advancing technologies for carbon management through its Oxy Low Carbon Ventures subsidiary [4].

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Core Viewpoint - Occidental Petroleum has experienced a decline in stock price due to falling oil prices, but it has several catalysts unrelated to oil that could enhance shareholder value in the future [1]. Group 1: Debt Management - Occidental Petroleum completed a $12 billion acquisition of CrownRock, which is expected to increase free cash flow by $1 billion in the first year based on WTI averaging $70 per barrel [2]. - The company assumed $1.2 billion of CrownRock's existing debt and issued $9.1 billion of new debt for the acquisition, raising concerns about the impact of oil price volatility on its financials [3]. - Occidental has rapidly repaid debt, achieving its target of reducing debt by at least $4.5 billion within 12 months of the acquisition seven months ahead of schedule [4]. - The company aims to continue reducing debt by retaining free cash flow and selling noncore assets, which will lower interest expenses and enhance future cash flow [5]. Group 2: Expansion of Non-Oil Businesses - Occidental is investing significantly in its oil and gas operations, with $5.3 billion spent on capital projects last year and plans to invest an additional $5.8 billion to $6 billion this year [6]. - The company is also focusing on expanding its chemicals business, OxyChem, with over $1.5 billion allocated for various projects, including the modernization of the Battleground plant, expected to generate $325 million in annualized EBITDA by 2026 [7]. - Occidental is developing carbon capture and storage (CCS) projects, including the STRATOS direct air capture project in Texas, which aims to capture 250,000 tons of CO2 annually, with operations expected to start in 2025 [8]. - The company sees CCS as a potential $3 trillion to $5 trillion global industry, believing it could generate earnings and cash flow comparable to its current oil and gas production [9]. Group 3: Long-Term Value Catalysts - While oil prices will influence Occidental's stock price in the short term, the company has several long-term value catalysts unrelated to oil prices, including debt repayment, expansion of OxyChem, and development of a lower-carbon energy business [11].

Occidental Petroleum TodayOXYOccidental Petroleum$49.05 +1.13 (+2.36%) 52-Week Range$44.70▼$71.19Dividend Yield1.96%P/E Ratio20.10Price Target$60.45Add to WatchlistOccidental Petroleum Co. NYSE: OXY is primarily recognized in the energy sector as a leading international oil and gas producer. It's notably been a growing position for the Oracle of Omaha as Berkshire Hathaway Co. NYSE: BRK.B raised its stake to 28% of the company in February 2025. What is not so well known is Occidental Petroleum’s ambitions ...

Occidental Petroleum’s (OXY) share price has dropped 25.2% in the trailing 12 months, wider compared with its industry’s decline of 15.7%. In the same period, the Zacks Oil & Energy sector has declined 0.9%.OXY’s exposure to fluctuating commodity prices remains a concern. As of Dec. 31, 2024, there were no active commodity hedges in place, so if the commodity prices drop substantially, it can adversely impact Occidental’s performance.Price Performance (One Year)Image Source: Zacks Investment ResearchShould ...

Core Viewpoint - Despite Warren Buffett's confidence in Occidental Petroleum, the company's stock has been struggling, leading to questions about its future performance and investment potential [1][3]. Group 1: Stock Performance - Occidental Petroleum's stock price has declined, closing at $47.94 on March 21, 2025, which is down more than 3% year-to-date and approximately 21% below Buffett's initial entry price of $60 [2]. - The company has failed to deliver expected returns compared to sector peers, raising concerns about whether Buffett's investment is a misstep or if patience is required [3]. Group 2: Financial Fundamentals - Occidental achieved a $4.5 billion debt repayment target seven months ahead of schedule in Q4 2024, following a $12 billion acquisition of CrownRock in 2023 [4]. - The company reported $3.1 billion in cash flow and $1.4 billion in free cash flow for the same quarter, alongside divesting upstream assets for $1.2 billion, which strengthened its balance sheet [6]. - Total proved reserves increased to 4.6 billion barrels of oil equivalent (BOE) from 4 billion the previous year, with a reserves replacement rate of 230% in 2024 [7]. Group 3: Dividend and Investment Appeal - Occidental announced a 9% increase in its quarterly dividend to $0.24 per share, payable on April 15, 2025, appealing to income-focused investors [8]. - The company's investment in direct-air-capture technology enhances its position in carbon reduction, exemplified by a deal with Microsoft for removal credits [9]. Group 4: Analyst Perspectives - Raymond James downgraded Occidental from "Strong Buy" to "Outperform" and lowered its price target to $64, citing weaker oil prices and recent stock performance [11]. - Wall Street analysts project a 21% upside for OXY stock over the next 12 months, with an average price target of $58 and a 'Hold' rating [11]. Group 5: Future Outlook - Despite short-term struggles, the fundamentals suggest a solid chance for Occidental's stock to rally, with Buffett's continued confidence indicating potential for a rebound in 2025 [12].

A month has gone by since the last earnings report for Occidental Petroleum (OXY) . Shares have lost about 5.9% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Occidental due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving Since Then?It t ...