Occidental Petroleum is targeting a $550 million reduction in capital spending this year. The company is firming its balance sheet.
OXY's Permian expansion, lower well costs and technology upgrades position it for sustained production growth and long-term value.
Occidental Petroleum (OXY) reached $53.77 at the closing of the latest trading day, reflecting a -1.47% change compared to its last close.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Shale producer Occidental Petroleum said in a filing on Friday its worldwide average realized oil prices rose 38.4% in the second quarter compared with the previous three months, driven by higher benchmark crude rates amid the Middle East conflict.
OXY's production growth, CrownRock assets, debt reduction and rising estimates bolster its appeal, but premium valuation suggests patience.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $52.3, denoting a -2.41% move from the preceding trading day.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
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's robust proved reserves, strong reserve replacement and diversified assets support production visibility, cash flow resilience and long-term returns.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $48.57, denoting a -1.06% move 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.