Despite OXY's underperformance, its fundamentals and valuation have improved, presenting a long-term buying opportunity amid oil and gas market volatility. Q3 FY2024 earnings beat expectations with strong production levels, cost control, and debt management, leading to solid cash flow and FCF. Analysts' lower Q4 EPS should be offset by increased production and CrownRock acquisition benefits, suggesting potential EPS beat for Q4.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $49.56, denoting a +0.55% change from the preceding trading day.
Occidental (OXY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Occidental (OXY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Occidental Petroleum (OXY) closed at $50.20 in the latest trading session, marking a -0.69% move from the prior day.
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OXY is exposed to commodity price fluctuation, but investors can remain invested, given its strong Permian Basin and contribution from acquired assets.
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The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Occidental is conservatively valued, trading below historical multiples, and could outperform in 2025 if new sanctions effectively reduce excess oil supply. Stricter sanctions on Russian and Iranian oil are expected to firm up oil prices, benefiting Occidental and its peers. Occidental's extensive Delaware acreage and low-cost reserve replacement position it well for long-term growth and reduced operational risks.
Occidental Petroleum (OXY) closed at $52.70 in the latest trading session, marking a +1.19% move from the prior day.
2024 was a bummer year for Occidental Petroleum (OXY 1.13%) -- the oil and gas stock lost 17.3% value in the year, according to data provided by S&P Global Market Intelligence. Occidental was, in fact, one of the worst-performing large-cap energy stocks of 2024, significantly lagging the S&P 500 index, which gained 23% in the year.