In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $47.65, denoting a +0.83% change from the preceding trading day.
Occidental (OXY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
President Trump campaigned on a “Drill, baby, drill” policy, promising to bring down fuel and energy prices. This policy has been coming to fruition in the oil sector.
U.S. oil production will peak between 2027 and 2030, Occidental Petroleum Corp chief executive officer Vicki Hollub said on Tuesday at the CERAWeek conference in Houston, Texas.
The still-young year of 2025 hasn't been all that kind to oil stocks, many of which are trading down since New Year's Day. One of these laggards has been sector mainstay Occidental Petroleum (OXY -1.06%), despite the company's convincing bottom-line beat in its most recent earnings report.
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Occidental (OXY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The stock is under pressure in early 2025 because of increasing oil inventory and supply globally and lower oil prices than last year, but the long-term outlook remains intact.
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Occidental Petroleum's 2024 performance showcased record U.S. oil production, reduced operating expenses, and strong free cash flow, enhancing shareholder returns and balance sheet health. The company aims to improve its balance sheet and focus on shareholder returns, with strategic divestitures and modernization projects, including the STRATOS carbon capture initiative. Despite flat production expectations for 2025, Occidental's low breakeven costs and efficient operations position it for substantial returns, assuming stable oil prices.
OXY's strong position in the Permian Basin and free cash generation capabilities will allow it to strengthen its balance sheet, but its exposure to commodity price fluctuation is a headwind.