Occidental Petroleum Corp (OXY) has been a topic of interest for several reasons. Firstly,
Warren Buffett has adopted the energy stock as a favorite even as its Q2 profits have grown by 50%. However, it's been given an average recommendation of
“Hold” by brokerages despite outperforming its competitors in trading days and surpassing Q2 earning estimates. For Q2 2024, OXY reported earnings that surpassed estimates, although revenues lagged. The ongoing negotiations between OXY and
Ecopetrol are noteworthy. The company's net sales from oil and gas gained in Q2, but its midstream and marketing saw a Y/Y slash. Its stock has seen a 34% CAGR over the last three years. The company, favorably positioned with 53% of its shares held by institutional owners, is attracting a lot of investor attention. However, OXY's net-zero strategy has met with criticism, eliciting accusations of 'license to pollute.' All this comes even as it aims for a record carbon removal deal with Microsoft and plans
CrownRock's closure next month.
Occidental Petroleum Corporation OXY News Analytics from Wed, 17 Jan 2024 08:00:00 GMT to Sun, 11 Aug 2024 17:37:44 GMT -
Rating 5
- Innovation -2
- Information 7
- Rumor -4
