Occidental Petroleum (OXY) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.40%. A quarter ago, it was expected that this oil and gas exploration and production company would post earnings of $0.80 per share when it actually produced earnings of $1, delivering a surprise of 25%.Over ...

Financial Performance - Average realized oil prices for the United States were $69.27 per barrel, and $72.55 internationally, with a total worldwide average of $69.73 per barrel[3] - Average realized NGL prices in the United States were $21.14 per barrel, and $27.11 internationally, with a total worldwide average of $21.80 per barrel[3] - Average realized natural gas prices in the United States were $1.26 per Mcf, and $1.88 internationally, with a total worldwide average of $1.41 per Mcf[3] - Worldwide oil prices were 99% of average WTI prices and 94% of average Brent prices[3] - Domestic natural gas prices were 47% of average NYMEX prices[3] Shares Outstanding - Average diluted shares outstanding for Q4 2024 were 983.9 million shares[2] Future Outlook - The company provided forward-looking statements regarding expectations and plans for future operations[4] - Actual outcomes may differ from anticipated results due to various economic and operational factors[6] Risks and Regulatory Factors - The company highlighted risks associated with acquisitions, operational disruptions, and regulatory changes[7] - Additional information on factors affecting financial results can be found in the company's filings with the U.S. Securities and Exchange Commission[8]

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 ...

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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 ...

Ecopetrol S.A. (EC) , a Colombian state-owned energy firm, has announced an extension of the development plan of Rodeo Midland Basin LLC with its joint-venture partner Occidental Petroleum (OXY) . Per Reuters, the two companies have agreed to renew their joint venture (JV), which was first established in July 2019.The JV’s future seemed uncertain when Ecopetrol stepped out of a different deal to acquire certain assets owned by Occidental for $3.6 billion, in August 2024. The assets were located within the P ...

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]