Occidental Petroleum Corporation (OXY)
Occidental Petroleum: Stay Calm And Continue Buying
Occidental Petroleum stock has weakened considerably as it lost the $55 support zone. The lack of recent purchases from Warren Buffett didn't help matters, as OXY's bullish thesis was threatened. Occidental's integration of CrownRock's assets will be scrutinized. Potential delays could impact near-term sentiments.
Has OXY Finally Hit The Bottom?
OXY trades at ~$51, with a target of $60, reflecting an 18% upside, anchored by Fibonacci resistance levels. An RSI of 27.46 signals oversold conditions, potentially undervaluing OXY; no immediate reversal is expected due to bearish sentiment. Occidental achieved record production in Q2 2024, with $1.3 billion in free cash flow before working capital adjustments.
Occidental Petroleum: I'd Be A Buyer Here
Occidental Petroleum recently declined to multi-year lows when oil prices fell below $70. Current oil prices are the lowest seen since 2021. Most signs (output, demand and others) indicate that if a recession doesn't happen soon, then oil prices will rise.
Occidental Petroleum: Shares Beaten Down, Offer A Compelling Value
Despite weak momentum and bearish technicals, I maintain a buy rating on Occidental Petroleum due to strong fundamentals, high cash flow, and favorable earnings outlook. OXY's Q2 results beat expectations, with EPS of $1.03 and revenue of $6.88 billion, leading to several Wall Street upgrades. Risks include falling oil prices, a strong dollar, rising labor costs, and potential interest rate increases, but OXY's dividend and cash flow yield remain attractive.
Occidental Petroleum (OXY) Stock Drops Despite Market Gains: Important Facts to Note
Occidental Petroleum (OXY) closed the most recent trading day at $50.66, moving -1.42% from the previous trading session.
Occidental (OXY): Warren Buffett's top oil stock gets oversold
Occidental Petroleum (NYSE: OXY) stock price is falling apart. It has crashed in the last four consecutive weeks, moving to its lowest level since April 2022.
Investors Heavily Search Occidental Petroleum Corporation (OXY): Here is What You Need to Know
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.
Why Analysts See Big Upside for Occidental Petroleum Despite Lows
Even after one of Wall Street's best investors, Warren Buffett bought up to 29% of Occidental Petroleum Co. NYSE: OXY, the stock has been downward and now trades at a new 52-week low. Has the Oracle of Omaha lost his touch?
Occidental Petroleum (OXY) Continues to Cut Debt: Hold or Fold?
Occidental (OXY) continues to reduce its debts and expand Permian operations. Yet, fluctuating commodity prices and lower ROIC than the industry are offsets.
Here is What to Know Beyond Why Occidental Petroleum Corporation (OXY) is a Trending Stock
Zacks.com users have recently been watching Occidental (OXY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Will Buffett's 'put' on oil firm Occidental halt share drop?
Shares in U.S. oil producer Occidental Petroleum fell to $56.17 on Tuesday, below a level that has routinely triggered purchases by its biggest holder, billionaire investor Warren Buffett's Berkshire Hathaway.
Occidental Petroleum Is 85% of the Way Toward Achieving This Crucial Goal
Occidental Petroleum is making quick progress toward achieving its initial debt reduction target. The company is well ahead of schedule and hasn't sold many assets yet.
