Occidental Petroleum: Building Momentum Into 2025 (Rating Upgrade)

US E&P Occidental Petroleum (NYSE: OXY ) reported strong Q4 earnings, beating ~11% on EPS and delivering ~$4.4B in annualized free cash flow (up 27% y/y) on record US production. We believe the quarter continues the operational momentum the company has enjoyed since the CrownRock acquisition, with better than expectedAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote ...