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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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Occidental Petroleum Corporation (NYSE: OXY ) is an international energy company with diversified assets, primarily in the United States, the Middle East, and North Africa. They are also one of the largest oil and gas producers in the United States and are My main goal when performing a fundamental analysis is to dig into the numbers of a company and find its intrinsic value (preferably) or relative value in order to find solid companies trading at a steep discount. I followed a similar path to that of Geor ...

The Energy sector has jumped out to a big lead when scanning the year-to-date S&P 500 sector performances. Over the past five years, the Energy Select Sector SPDR ETF ( XLE ), is up by more than 300%, a four-bagger, with Freelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to fi ...

Core Insights - Occidental Petroleum is a significant player in the energy sector and one of the top oil and gas producers in the U.S. [1] - The company has faced challenges in recent years, with its stock price declining by 35% from a peak of $76 per share in late 2022 [1] - Berkshire Hathaway continues to invest in Occidental, holding approximately 28% of its outstanding stock [3] Business Overview - Occidental operates in various segments of the oil and gas industry, with a strong presence in the Permian Basin and operations in the Middle East and Africa [5] - The primary source of revenue for Occidental is exploration and production, making it sensitive to fluctuations in oil and gas prices [6] - The company achieved record production levels last year and repaid $4.5 billion in near-term debt ahead of schedule [8] Financial Performance - Occidental's average breakeven production point is around $60 per barrel, with many new locations acquired having even lower breakeven costs [10] - The stock is currently valued at a forward price-to-earnings ratio of approximately 12.3, making it a reasonable investment option for those seeking exposure to the oil and gas sector [12] Future Prospects - The company is developing large-scale direct air capture (DAC) facilities through its subsidiary 1PointFive, with significant potential in carbon capture and storage [11][13] - CEO Vicki Hollub estimates that the carbon capture and storage industry could be valued between $3 trillion and $5 trillion in the future [13]

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Core Viewpoint - Warren Buffett's backing of Occidental Petroleum (OXY) has led to increased interest from investors, but alternatives like ExxonMobil and Chevron may offer better long-term value and income stability [1][8]. Group 1: Occidental Petroleum (OXY) - Occidental Petroleum won the bidding war for Anadarko Petroleum in 2019 with financial support from Buffett and Berkshire Hathaway, outbidding Chevron [2]. - The acquisition left Occidental heavily in debt, and it cut its dividend during the early COVID-19 pandemic, which has not yet returned to pre-cut levels [3]. - Despite efforts to expand, such as acquiring CrownRock, Occidental's approach may not serve long-term investors focused on reliable income streams [3]. Group 2: Comparison with ExxonMobil and Chevron - ExxonMobil and Chevron are more attractive for income investors due to their consistent dividend increases, with ExxonMobil increasing dividends for 42 consecutive years and Chevron for 37 years [4]. - Occidental's debt-to-equity ratio remains significantly higher than that of ExxonMobil and Chevron, limiting its financial flexibility during downturns [5]. - ExxonMobil and Chevron's diversified operations across upstream, midstream, and downstream sectors provide stability against energy market fluctuations, with market caps of $500 billion and $290 billion respectively, compared to Occidental's $45 billion [6]. Group 3: Dividend Yields - Occidental offers a modest dividend yield of 2%, below the average energy stock yield of 3.1%, while ExxonMobil and Chevron yield 3.4% and 4.1% respectively [7]. - For income-focused and conservative investors, replacing Occidental with either ExxonMobil or Chevron is advisable for better income generation [7]. Group 4: Buffett's Portfolio - Warren Buffett also owns Chevron in Berkshire Hathaway's portfolio, suggesting that investors can still align with Buffett's support by choosing Chevron over Occidental [8].

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].