HOUSTON , Feb. 18, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced its fourth 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 Wednesday, February 19, 2025, at 1 p.m. Eastern/12 p.m. Central. The ...

Occidental Petroleum Corporation OXY will release its fourth-quarter financial results, after the closing bell, on Tuesday, Feb. 18, 2025.Analysts expect the Houston, Texas-based company to report quarterly earnings at 70 cents per share, down from 74 cents per share in the year-ago period. Occidental Petroleum projects quarterly revenue of $7.05 billion, compared to $7.53 billion a year earlier, according to data from Benzinga Pro.Ecopetrol S.A. EC recently disclosed that Ecopetrol Permian LLC and Occident ...

Group 1 - Warren Buffett has been a net seller of stocks for nine consecutive quarters, but he initiated a new position in Constellation Brands by purchasing 5.62 million shares in Q4 2024 [1][2] - Buffett increased his stake in Occidental Petroleum, which has been a consistent investment for Berkshire Hathaway, and also added shares in SiriusXM Holdings [3][11] - Berkshire Hathaway is now the largest shareholder of Verisign, holding a 14% stake worth over $3 billion at the end of 2024 [4] Group 2 - Buffett bought an additional 1.1 million shares of Domino's Pizza, increasing Berkshire's stake by approximately 86.5%, and also boosted his position in Pool Corp by around 48% [5] - Most of the stocks purchased in Q4 have experienced double-digit percentage declines over the last 12 months, with Domino's and Verisign being exceptions [6] - The valuations of the stocks vary, with Occidental at a forward earnings multiple of 13.1, Constellation at 10.9, and SiriusXM at around 8.9, while Domino's, Pool, and Verisign trade at higher multiples of 26x to 29x [7][8] Group 3 - SiriusXM offers the highest dividend yield at 3.98%, while Constellation Brands has a yield of 2.48%, and other stocks pay yields between 1% and 2% [9] - SiriusXM may appear to be the best stock based on its low forward earnings multiple and high dividend yield, with Constellation as a strong second [10] - Buffett has built a larger stake in Occidental than any other stock purchased in Q4, indicating its significance in his investment strategy [11][12]

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In its upcoming report, Occidental Petroleum (OXY) is predicted by Wall Street analysts to post quarterly earnings of $0.67 per share, reflecting a decline of 9.5% compared to the same period last year. Revenues are forecasted to be $7.14 billion, representing a year-over-year decrease of 5.2%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 22.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections d ...

Core Insights - Berkshire Hathaway purchased 763,017 shares of Occidental Petroleum for $35.7 million, increasing its stake to 28.2% [1][3] - Berkshire holds warrants to buy an additional 83.9 million shares at $59.62 each, totaling approximately $5 billion, following its support for Occidental's acquisition of Anadarko Petroleum in 2019 [2] - Despite increasing its investment, Berkshire does not intend to take control of Occidental Petroleum [2][3] Stock Performance - Occidental shares fell 1.7% to $47.82 and have decreased by about 17% over the past year [3]

Taking a page from an expert’s book is often a wise decision — and if anyone can be called an expert when it comes to investing, it’s Warren Buffett.The chairman and chief executive officer (CEO) of Berkshire Hathaway (NYSE: BRK.B) is in rare company when it comes to picking stocks — as he has a long history of outperforming the market. However, the ‘Oracle of Omaha’ didn’t accomplish this feat through risky trades, complex derivatives, or timing the market.Instead, Buffett’s approach relies on value invest ...

Core Viewpoint - Ecopetrol S.A. has extended its development plan with Occidental Petroleum for the Rodeo Midland Basin, continuing exploration and production activities in the Permian Basin despite previous uncertainties regarding their joint venture [1][2]. Group 1: Joint Venture and Development Plans - The joint venture between Ecopetrol and Occidental Petroleum was first established in July 2019 and has now been renewed [1]. - The new drilling plan includes the drilling of 34 wells between April 2025 and June 2026, with initial drilling activities expected to commence in early 2025 [3]. - An independent contract for the Delaware sub-basin will also be active until 2027, contingent on future interests and macroeconomic conditions [4]. Group 2: Production and Investment - Ecopetrol's production in the Permian Basin has increased by nearly 62%, reaching 95,200 barrels of oil equivalent per day (boe/d) according to the third-quarter report [5]. - The 2025 plan for the Delaware and Midland sub-basins includes an estimated investment of $885 million, with plans to drill approximately 91 development wells, aiming for an average annual production close to 90,000 boe/d net to Ecopetrol Permian [6].

Core Insights - Warren Buffett's investment strategy focuses on acquiring high-quality businesses, with recent significant purchases in Occidental Petroleum, Sirius XM, and VeriSign [3][4][15] - Berkshire Hathaway has built substantial stakes in these companies, with Occidental Petroleum being a standout due to its dominant position in the Permian Basin and its opportunistic acquisition strategy [4][5][10] - VeriSign is highlighted as a "wonderful business" with a strong monopoly on .com and .net domain registrations, showing impressive revenue and earnings growth potential despite its higher valuation [9][14][17] Group 1: Berkshire Hathaway's Recent Purchases - Buffett's recent investments include 8.9 million shares of Occidental Petroleum for $409 million, 5 million shares of Sirius XM for $107 million, and 474,000 shares of VeriSign for $94 million [10] - Berkshire Hathaway now owns 28.2% of Occidental Petroleum and 34.6% of Sirius XM, indicating a strong commitment to these positions [5][6] - The investment in Occidental Petroleum has been strategic, with Buffett purchasing shares when prices are favorable compared to the warrants attached to preferred shares [5] Group 2: Occidental Petroleum - Occidental Petroleum has been a key focus for Buffett since his initial $10 billion investment in preferred shares in 2019, which facilitated the acquisition of Anadarko [4] - The company benefits from low-cost oil production in the Permian Basin, but its stock performance is closely tied to fluctuations in oil prices [4][5] - The investment strategy has been opportunistic, with Buffett capitalizing on price dips to increase his stake [5] Group 3: Sirius XM - Berkshire's stake in Sirius XM was primarily acquired through Liberty SiriusXM tracking stock, which traded at a discount [6] - The company continues to grow its position in Sirius XM, reflecting confidence in its long-term prospects despite challenges in the streaming market [6][16] Group 4: VeriSign - VeriSign holds exclusive rights to .com and .net domain registrations, with contracts that allow for annual price increases of 7% and 10% respectively [9][12] - The company has demonstrated strong operating leverage, with net earnings growing 146% over the past decade alongside 51% revenue growth [13] - Despite a higher valuation at nearly 25 times forward earnings estimates, the potential for double-digit EPS growth makes it an attractive investment [17]

Occidental Petroleum Corp (NYSE: OXY), a favorite of Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A), continues to record losses even as the billionaire maintains confidence in the company.OXY has taken another hit after the equity fell to its lowest since December 2024. The stock closed at $46.65 on January 31, down 4.64% on the day, marking a significant retreat from recent highs when OXY attempted to hold above the $50 mark. OXY stock price chart. Source: BarchartThe stock’s price has been volatile ove ...