Occidental Petroleum (OXY) stock is down 3.2% to $46.16 due to China’s slowing economic growth, impacting global energy demand. China’s weak November retail sales and sharp decline in property investment signal reduced energy consumption, affecting OXY’s revenue and profitability. Investors can access OXY through direct share purchases, ETFs, or 401(k) plans, but should proceed with caution given market volatility.
CNBC’s Jim Cramer shared his insights on several stocks during his ‘Mad Money Lightning Round,’ offering both bullish and bearish opinions on energy, healthcare, and tech companies. Occidental Petroleum received a particularly negative assessment, while Abbott Laboratories and Energy Transfer LP gained his favor.
Occidental Petroleum (OXY) is set to report its third-quarter earnings on Tuesday, and investors are keen to see how the company’s debt reduction efforts and key divisions have performed. Analysts expect strong results, but will they live up to the hype?
Occidental Petroleum (OXY) shares are down on Monday, following a broader decline in the oil sector. The move comes after Israel reportedly launched airstrikes on Iran over the weekend, targeting military sites but sparing oil and nuclear facilities. This news, along with the broader market sentiment, is impacting OXY’s share price.
Oracle of Omaha, Warren Buffett, has doubled down on Occidental Petroleum (OXY) stock, adding to his already significant stake in the company. This comes despite OXY’s recent stock price dip. This article explores the reasons behind Buffett’s preference for OXY over Chevron (CVX), examining the factors driving his investment decisions and how these companies align with his long-term investment strategy.
This article delves into the investment strategies of seasoned players on Wall Street, highlighting two stocks favored by experts: Occidental Petroleum (OXY) and Microsoft (MSFT). However, it also cautions investors about Dollar General (DG), suggesting a bearish outlook due to its vulnerability in a high-inflation environment. Discover the rationale behind these choices and learn how to make informed investment decisions.
Occidental Petroleum’s subsidiary, 1PointFive, has been awarded a $500 million grant from the U.S. Department of Energy to develop a massive direct air capture (DAC) facility in South Texas. The facility aims to remove millions of tons of CO2 annually, showcasing the potential of DAC technology in combating climate change.
Shares of Occidental Petroleum (OXY) have fallen significantly, impacting Warren Buffett’s substantial investment in the company. The decline in Occidental’s stock price aligns with a drop in crude oil prices, driven by concerns over demand and excess supply. While Buffett may buy more shares, a fund manager suggests he’s unlikely to take over the company and prefers Occidental to initiate a stock buyback program. Buffett’s investment in Occidental, which he began accumulating in early 2022, is now potentially underwater.
Occidental Petroleum Corporation (OXY) announced a significant $3 billion reduction in its principal debt during the third quarter of 2024, driven by strong cash flow and divestiture proceeds. This achievement puts the company on track to meet its near-term debt reduction target of $4.5 billion, with approximately 85% already accomplished. The company is actively pursuing its deleveraging strategy through both asset sales and free cash flow generation.
Occidental Petroleum (OXY) has outperformed the broader market this year, driven by the recovery in oil prices.
The company’s recent acquisition of CrownRock is expected to boost free cash flow and earnings, making it an attractive investment.
Analysts at BofA have a price target of $80 on OXY, while I believe the stock is worth $80-96, representing a 20-44% upside potential from the current price.
Despite the risks associated with oil price volatility, I believe OXY’s management team is effective and the company is well-positioned to benefit from the ongoing bullish cycle in the oil market.
