Occidental Petroleum Corporation (OXY) has been the subject of numerous analyses. While some investors herald the company's strong financials as a reason for its recent stock rally, others suggest minimal shareholder return. The oil giant has shown philanthropy, donating $1M to Greeley-Weld Habitat. Analysts' views and price predictions vary, although Truist's downgrade saw OXY and EOG Resources' stock tilt lower. However, the company's Q1 2024 and Q4 2023 earnings exceeded EPS estimates, despite revenue lagging. Occidental outperformed market gains, although there were instances where the stock fell when the market gained. Strategic acquisitions have been made, such as $10.8B deal for CrownQuest asset, without Buffett's help, and a potential $20bn sale of Western Midstream is being explored. Institutional owners hold over 50% shares, pointing to strong investor faith. An evaluation of the company's debt suggested potential risk, but its robust and diverse strategic approaches show promise. Finally, Occidental plans to keep 2024 production levels flat while reducing two Permian Basin rigs.
Occidental Petroleum Corporation OXY News Analytics from Tue, 07 Nov 2023 08:00:00 GMT to Thu, 16 May 2024 19:58:19 GMT -
Rating 4
- Innovation 6
- Information 7
- Rumor 5
