Occidental Petroleum (OXY 1.62%), an integrated oil and gas company, announced its fourth-quarter 2024 earnings on Feb. 18, 2025. The company reported adjusted EPS of $0.80, exceeding the market expectation of $0.68 by 17.6%.
Occidental Petroleum (OXY) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.74 per share a year ago.
Tortoise Senior Portfolio Manager & Managing Director Rob Thummel joins Asking for a Trend to analyze the oil and gas sector, as Occidental (OXY) stock declines while Diamondback Energy (FANG) gains following their respective fourth quarter reports. "Big picture in the oil and gas space right now it's all about capital discipline, it's about returning cash to shareholders," he tells Yahoo Finance.
Occidental Petroleum reported a fourth-quarter loss on Tuesday, as the oil and gas firm was hurt by lower prices.
Occidental Petroleum Corporation OXY will release its fourth-quarter financial results, after the closing bell, on Tuesday, Feb. 18, 2025.
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Occidental Petroleum Corp OXY will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects 70 cents in EPS and $7.05 billion in revenues as the company reports after market hours.
Occidental Petroleum Corporation OXY will release its fourth-quarter financial results, after the closing bell, on Tuesday, Feb. 18.
Going into the fourth quarter of 2024, Warren Buffett had been a net seller of stocks for eight consecutive quarters. The streak has now increased to nine after Berkshire Hathaway disclosed its Q4 holdings.
OXY has lost 21% over the past year. Weak crude prices are to blame.
I maintain my "Buy" rating on Occidental Petroleum due to its strong production growth and severe undervaluation. I think OXY can easily beat the Q4 consensus on February 18. Despite market pressures, OXY's current situation is much stronger than in 2018-2019, with higher production levels and no significant macro threats. OXY's Q4 2024 guidance indicates robust production and improved margins, particularly from Permian assets and OxyChem, suggesting potential for earnings beats.
Occidental Petroleum's fourth-quarter production benefit from contributions from domestic and international assets. Debt reduction and efficient expense management also contribute to its performance.