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.
Warren Buffett's significant investment in Occidental Petroleum highlights its strong market position and potential for growth, especially in domestic energy production. OXY's diverse operations, including oil, gas, chemicals, and midstream marketing, generate substantial revenue, predominantly from U.S. oil production. The company's carbon capture initiatives, particularly DAC projects, promise future revenue streams and support dividend growth, despite high initial costs.
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Warren Buffett, the ‘Oracle of Omaha', is one of the most renowned investors to ever live. Through judicious stock picks based on a philosophy of value investing, the billionaire and his company, Berkshire Hathaway, have managed to beat the market consistently.
OXY's fourth-quarter earnings are better than expected. Strong volumes from the Permian region continue to boost the overall production of the company.
Occidental Petroleum (OXY 4.40%) has grabbed the attention of Warren Buffett's company, Berkshire Hathaway (BRK.A 0.12%) (BRK.B 0.20%). That's abundantly clear in Berkshire's buying binge of Occidental's stock.
Occidental's NYSE: OXY stock price struggles are over. The market corrected to long-term lows, aligning with Warren Buffet's initial entries into the stock and is set up for a strong rebound.
We now know what Warren Buffett was up to during the fourth quarter of 2024. Berkshire Hathaway (BRK.A 0.12%) (BRK.B 0.20%) submitted its 13F filing to the U.S. Securities and Exchange Commission (SEC) last week.
Oxy's Q4 delivered a solid 11% beat on EPS and record US production, continuing strong recent momentum. Unit LOE continues to improve with Q4 LOE/boe, down 6% q/q and almost 30% vs its Q4 23 peak, yet Oxy remains one of the highest-cost E&Ps and more work. While debt and low distributions remain a headwind, we believe shares now look more attractive at ~11% fwd FCF yield and ~5x 2025 EBITDA.
Occidental Petroleum Corporation (NYSE:OXY ) Q4 2024 Earnings Conference Call February 19, 2025 1:00 PM ET Company Participants Jordan Tanner - VP, IR Vicki Hollub - President & CEO Sunil Mathew - SVP & CFO Ken Dillon - SVP & President, International Oil and Gas Operations Richard Jackson - President, Operations, U.S. Onshore Resources and Carbon Management Conference Call Participants Arun Jayaram - JP Morgan Betty Jiang - Barclays Neal Dingmann - Truist Securities Paul Cheng - Scotiabank Roger Read - Wells Fargo Neil Mehta - Goldman Sachs John Abbott - Wolfe Research Leo Mariani - Roth Capital Partners Operator Good afternoon, everyone, and welcome to Occidental's Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.
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While crude oil prices (CL=F, BZ=F) get buoyed slightly higher Wednesday morning, energy giant Occidental Petroleum (OXY) reported mixed fourth quarter earnings results: beating adjusted earnings estimates with $0.80 per share while revenue of $6.84 billion fell short of expectations. "All you have to do is look at OPEC+ and see what they've been doing over the last several months, which is continually pushing back the start of the unwinding of the 2.2 million barrels a day of voluntary production cuts," CFRA Research Energy Equity Analyst and Deputy Research Director Stewart Glickman cites as one major challenge for the oil and gas (RB=F) driller.