Prudent Capitalist
7日前
Occidental Q4 Adjusted EPS Rise, Revenue Lower; Ups Dividend
16:33:31 PM ET, 02/18/2025 - MT Newswires
04:33 PM EST, 02/18/2025 (MT Newswires) -- Occidental Petroleum (OXY) reported Q4 adjusted earnings late Tuesday of $0.80 per diluted share, up from $0.74 a year earlier.
Analysts polled by FactSet expected $0.68.
Total revenue for the quarter ended Dec. 31 were $6.84 billion, down from $7.53 billion a year earlier.
The company raised its quarterly dividend 9% to $0.24 per share, payable April 15 to stockholders of record as of March 10.
Prudent Capitalist
7日前
Occidental Announces Further Progress on Debt Reduction
16:16:00 PM ET, 02/18/2025 - GlobeNewswire
Achieved near-term debt repayment target of $4.5 billion in the fourth quarter of 2024
Announced proceeds from $1.2 billion of divestitures signed in the first quarter of 2025 will go toward current year debt maturities
HOUSTON, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced it achieved its near-term debt repayment target of $4.5 billion in the fourth quarter of 2024 and signed two agreements in the first quarter of 2025 to divest upstream assets to undisclosed buyers for a combined total of $1.2 billion.
The divestiture transactions, which are expected to close in the first quarter of 2025, include Rockies non-operated assets and Permian Basin assets not included in Occidental’s near-term development plan. The resulting proceeds will be applied to the company’s remaining 2025 debt maturities.
“We were pleased to reach the near-term deleveraging milestone in the fourth quarter of 2024, within five months of closing the CrownRock acquisition, and seven months ahead of our goal,” said President and CEO Vicki Hollub. “The transactions announced today continue to high grade our portfolio and accelerate the progress toward achieving both our medium-term balance sheet deleveraging target and shareholder return pathway.”
Occidental will continue to advance deleveraging via free cash flow and divestitures.
DiscoverGold
2月前
$OXY remains in a strong downtrend, with lower highs and lower lows. However, there's increasing buying pressure evident on the BX...
By: Peter DiCarlo | January 2, 2025
• $OXY remains in a strong downtrend, with lower highs and lower lows. However, there's increasing buying pressure evident on the BX.
Should the price break above this trend line and the BX continue to make higher highs, staying green, this might signal the beginning of a multi-month rally back up to $60.
We're still waiting for confirmation, so it's important to monitor this closely. This potential breakout could coincide with ongoing sell-offs in the S&P 500.
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DiscoverGold
DiscoverGold
2月前
Berkshire Hathaway $BRK.B bought 19,792,770 shares of $OXY in 2024, worth a total value of over $703 million. Will his conviction pay off in 2025?...
By: TrendSpider | December 22, 2024
• Warren Buffett and Berkshire Hathaway $BRK.B bought 19,792,770 shares of $OXY in 2024, worth a total value of over $703 million.
Will his conviction pay off in 2025?
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DiscoverGold
2月前
Occidental Petroleum (OXY) Stock Pops on Buffett Stake
By: Schaeffer's Investment Research | December 20, 2024
• Berkshire Hathaway bought up additional Occidental Petroleum shares
• The shares are rebounding from two-year lows
Shares of Occidental Petroleum Corp (NYSE:OXY) are up 4.4% at $47.36 at last glance, after Warren Buffett's Berkshire Hathaway (BRK) bought an addition 8.9 million shares in the energy producer. This is just one of the conglomerate's moves to buy stocks on the dip after the recent selloff, and Occidental is Berkshire's sixth-largest equity holding.
OXY has moved lower since breaking below support at the $50 level earlier this month, and yesterday hit a two-year low of $45.17. The stock's "oversold" condition could contribute to a rebound, per its 14-day relative strength index (RSI) of 17.5. Since the start of the year, the equity is down 21.1%.
Options traders appear to be betting on an upside as well. So far today, OXY has seen 49,000 calls exchanged -- triple the amount typically seen at this point -- in comparison to 7,653 puts. The expiring December 47 call is the most popular, followed by the 46.50 call in the same series, with positions being opened at both.
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DiscoverGold
DiscoverGold
4月前
Occidental Petroleum Corp (OXY) Stock Sliding After Israel's Attack on Iran
By: Schaeffer's Investment Research | October 28, 2024
• Disruptions to crude production are unlikely
• Israel spared Iran's crude production facilities
Oil prices are sliding on the heels of Israel's attack on Iran over the weekend. The former spared the latter's energy facilities, though, so disruptions to crude production are unlikely. Below, let's check in with both Occidental Petroleum Corp (NYSE:OXY) and APA Corp (NASDAQ:APA) to see how shares are responding to geopolitical tensions.
OXY was last seen down 1.3% to trade at $50.88, and earlier hit its lowest level in over one month. Shares gapped below the 20-day moving average after a rally earlier this month fell short of the $57 level. Fresh off their third-straight weekly loss, Occidental Petroleum stock is down 14.8% this year.
APA is also struggling, down 3.5% at $23.95 at last glance. The hydrocarbon exploration stock has support at the $23 level, but has failed to conquer the $28 level twice this month as it struggles with long-term pressure at the descending 60-day moving average. Over the last 12 months, APA shed 40.3%.
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