Occidental Petroleum (OXY) remains a compelling investment, with robust operational execution, continued debt reduction, and a valuable Permian Basin asset base. OXY targets $6.1 billion in 2026 FCF at baseline oil prices, with each $1/bbl oil price increase adding ~$265 million in cash flow. Capex discipline, cost reductions, and CrownRock integration drive double-digit FCF yields, even at conservative oil price assumptions.
You have to give credit where credit is due. With Fundstrat's top strategist, Tom Lee, now looking like a genius for his bold call of a market bottom (and bounce to follow) just a few weeks ago, when it seemed like the war in Iran would cause the return of a bear market, I do think the man has earned more fans.
Occidental Petroleum (NYSE: OXY) stock has pulled back sharply from recent highs, but the underlying business is stronger than the dip implies, and the risk picture is real enough to keep new buyers cautious.
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.
In the closing of the recent trading day, Occidental Petroleum (OXY) stood at $55.38, denoting a -4.62% move from the preceding trading day.
OXY strikes oil at the Bandit prospect in the Gulf of America, with a potential subsea tie-back to nearby facilities that could lift long-term output and cash flow.
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 Petroleum on Thursday said it has discovered oil at the Bandit prospect in the Gulf of Mexico, about 125 miles south of the Louisiana coast.
Occidental Petroleum (OXY) closed at $59.77 in the latest trading session, marking a -5.04% move from the prior day.
OXY has surged 73.9% in a year as Permian scale, CrownRock and debt paydown lift outlook, yet ROE lags and valuation looks rich.
How high could oil prices go? That's the question on the minds of many investors as the conflict in Iran enters its next phase.
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.