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NYSE:OXY

Occidental Petroleum (OXY) Stock Price, News & Analysis

$60.95
-0.84 (-1.36%)
(As of 07/8/2024 ET)
Today's Range
$60.92
$61.99
50-Day Range
$59.49
$66.15
52-Week Range
$55.12
$71.18
Volume
6.25 million shs
Average Volume
7.33 million shs
Market Capitalization
$54.04 billion
P/E Ratio
16.65
Dividend Yield
1.44%
Price Target
$71.56

Occidental Petroleum MarketRank™ Stock Analysis

Analyst Rating
Hold
2.40 Rating Score
Upside/​Downside
17.4% Upside
$71.56 Price Target
Short Interest
Healthy
3.66% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-8.07
Upright™ Environmental Score
News Sentiment
0.79mentions of Occidental Petroleum in the last 14 days
Based on 22 Articles This Week
Insider Trading
Acquiring Shares
$278.66 M Bought Last Quarter
Proj. Earnings Growth
27.84%
From $3.88 to $4.96 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.73 out of 5 stars

Oils/Energy Sector

17th out of 230 stocks

Crude Petroleum & Natural Gas Industry

8th out of 74 stocks

OXY stock logo

About Occidental Petroleum Stock (NYSE:OXY)

Occidental Petroleum Corporation is an international oil and gas giant founded in 1920 to explore for oil in California. The company made its name in the early 1960safter discovering the Lathrop Gas Field in Lathrop, California. The company expanded into chemicals manufacturing in 1968 and then in 1972 it became a pioneer in the quest to extract oil from shale. In 1993, the company made a historic move by exiting its coal operations, and then it did so again when it embraced a lower carbon future.

The company worked to realign its goals with a carbon-free future in 2021. After extensive review, new carbon emission targets were laid out along with a plan that the Transition Pathway Initiative recognized as being 1 of 3 coming from major oil companies that could realistically result in net-zero emissions by 2050. Since then the company has laid interim goals that include net zero from operations and energy by 2040 and no routine flaring by 2030.

Today, Occidental Petroleum is an integrated energy company with operations in the US, the Middle East, Africa, and Columbia along with some other smaller operations. The company operates a network of best-in-class production, delivery, and storage facilities with operations centered in the US. On a net basis, the company’s US operations accounted for more than 75% of the total in 2022 with 19% from Middle East operations and the remainder from Columbia and elsewhere.

The company engages in the oil & gas business as an explorer, producer, and mid-stream infrastructure operator. The company operates through three segments that include Oil and Gas, Chemicals, and Midstream & Marketing.

The oil and gas segment explores for oil, develops new fields, and produces hydrocarbon liquids, gasses, and condensates. The chemicals segment manufactures a range of chemicals including chlorine, potassium chemicals, and vinyl. The midstream segment transports, stores, and markets hydrocarbons. It is the 6th largest oil and gas producer in the US by market cap. The company attained the position after its acquisition of Anadarko Petroleum in 2019, the 4th largest oil and gas acquisition at the time.

Berkshire Hathaway became Occidental Petroleum’s largest shareholder in mid-2022. The firm had purchased more than 26% of the shares as of 10/14/2022 and had regulatory approval to purchase up to 50% of the company in total.

OXY Stock Price History

OXY Stock News Headlines

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Top Oil Stocks Primed to Surge Ahead of Buffett's Occidental Move
In today's environment, the lion's share of market attention is focused on two main things. First, most have headed to the technology sector, particularly stocks like NVIDIA Co. NASDAQ: NVDA, exposed to the hype around artificial intelligence expansion and adoption throughout the global economy.
Obama wins Presidential debate
When I said Obama would seek a third term… They called me a conspiracy theorist, they said it couldn’t happen, that the 22nd Amendment makes it impossible. But as I explained on live radio years ago, “he could have a proxy… while he remains in control of the administration much like Putin did in Russia.”
Pumpjacks on a cool autumn day in Alberta.
Top Oil Stocks Primed to Surge Ahead of Buffett's Occidental Move
Two oil stocks are making headways into beating Occidental Petroleum even after being chosen by Warren Buffett himself, analysts agree on EPS and price targets
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Savvy Investors' Rate Cut Portfolio: Bonds, Small Caps, Energy (OXY)
Three assets come to front and center for investors looking to build a better portfolio in the face of potential interest rate cuts coming this year
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3 Recent Stock Buybacks: Adobe, Marathon, and FedEx Lead the Way
Three companies are starting to buy back stock this quarter, and financial strength in their companies lets them do this. Wall Street analysts see more upside
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Call Option Interest Soars in These 3 Stocks
Three stocks earned the attention of call option buyers, as there are plenty fundamental trends and financial expansions to back bets for higher prices soon
Obama wins Presidential debate
When I said Obama would seek a third term… They called me a conspiracy theorist, they said it couldn’t happen, that the 22nd Amendment makes it impossible. But as I explained on live radio years ago, “he could have a proxy… while he remains in control of the administration much like Putin did in Russia.”
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3 Small-Cap Stocks in the Russell 2000 Set to Rally
As Wall Street's investors begin to shift out of Nvidia and into small cap stocks, three names stand out to bring investors up to double-digit upside ahead
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Didn't Buy Occidental Like Buffett? Look at These 3 Oil Stocks (OXY)
After Buffett bought into the energy sector, three companies heated up their bullish sentiment through current projections and Wall Street valuations
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Top 3 Stocks to Buy Now as Energy Sector Hits Buy Zone
After showing relative strength in the first quarter, the energy sector and the Energy Select Sector SPDR Fund ETF NYSEARCA: XLE trended lower in the second quarter, recouping most of their gains. Now up just over 5% year-to-date, the sector is underperforming the market and its benchmark.
3 Warren Buffett Stocks to Buy Hand Over Fist
Occidental Petroleum (NYSE:OXY) Trading Down 0.6%
Occidental Petroleum (NYSE:OXY) Stock Price Down 0.1%
See More Headlines
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Company Calendar

Ex-Dividend for 4/15 Dividend
3/07/2024
Dividend Payable
4/15/2024
Last Earnings
5/07/2024
Ex-Dividend for 7/15 Dividend
6/10/2024
Today
7/09/2024
Dividend Payable
7/15/2024
Next Earnings (Confirmed)
8/07/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
Integrated Oil & Gas
CUSIP
67459910
Employees
12,570
Year Founded
1920

Price Target and Rating

Average Stock Price Target
$71.56
High Stock Price Target
$90.00
Low Stock Price Target
$59.00
Potential Upside/Downside
+17.4%
Consensus Rating
Hold
Rating Score (0-4)
2.40
Research Coverage
15 Analysts

Profitability

Net Income
$4.70 billion
Pretax Margin
19.89%

Debt

Sales & Book Value

Annual Sales
$28.92 billion
Cash Flow
$11.70 per share
Book Value
$25.06 per share

Miscellaneous

Free Float
882,381,000
Market Cap
$54.04 billion
Optionable
Optionable
Beta
1.61

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Should I Buy Occidental Petroleum Stock? OXY Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Occidental Petroleum Co.:

  • Occidental Petroleum Corporation engages in the acquisition, exploration, and development of oil and gas properties in strategic locations like the United States, the Middle East, and North Africa.
  • Recent developments in the oil and gas industry have shown an increase in demand for energy sources, which could positively impact Occidental Petroleum Co.'s revenue and profitability.
  • Occidental Petroleum Co. has been focusing on cost-cutting measures and operational efficiency, which could lead to improved financial performance in the future.
  • The current stock price of Occidental Petroleum Co. is showing signs of stability and potential growth, making it an attractive investment opportunity.
  • Occidental Petroleum Co. has a diversified portfolio of assets that can help mitigate risks associated with fluctuations in oil and gas prices.

Cons

Investors should be bearish about investing in Occidental Petroleum Co. for these reasons:

  • Occidental Petroleum Co. operates in a highly volatile industry, with fluctuations in oil prices and geopolitical risks that could impact its financial performance.
  • Recent regulatory changes and environmental concerns could lead to increased costs for Occidental Petroleum Co. in compliance and operational activities.
  • The company's debt levels are relatively high, which could pose risks in case of economic downturns or unfavorable market conditions.
  • Occidental Petroleum Co. faces competition from other major players in the oil and gas sector, which could affect its market share and profitability.
  • Recent challenges in the global economy and energy market dynamics could pose uncertainties for Occidental Petroleum Co.'s future growth prospects.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, June 26, 2024. Please send any questions or comments about these Occidental Petroleum pros and cons to contact@marketbeat.com.

OXY Stock Analysis - Frequently Asked Questions

How have OXY shares performed this year?

Occidental Petroleum's stock was trading at $59.71 at the beginning of the year. Since then, OXY stock has increased by 2.1% and is now trading at $60.95.
View the best growth stocks for 2024 here
.

How were Occidental Petroleum's earnings last quarter?

Occidental Petroleum Co. (NYSE:OXY) posted its quarterly earnings results on Tuesday, May, 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.01. Occidental Petroleum's revenue for the quarter was down 17.2% compared to the same quarter last year.
Read the conference call transcript
.

What is Vicki Hollub's approval rating as Occidental Petroleum's CEO?

130 employees have rated Occidental Petroleum Chief Executive Officer Vicki Hollub on Glassdoor.com. Vicki Hollub has an approval rating of 40% among the company's employees. This puts Vicki Hollub in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Does Occidental Petroleum have any subsidiaries?

Occidental Petroleum subsidiaries include Anadarko Petroleum, Phibro, Vintage Petroleum, Laguna Petroleum Corp., ARCO Long Beach, Altura Energy, Cain Chemical, and others.

Who are Occidental Petroleum's major shareholders?

Occidental Petroleum's top institutional investors include DNB Asset Management AS (0.01%), Thurston Springer Miller Herd & Titak Inc., GAMMA Investing LLC and Peirce Capital Management LLC. Insiders that own company stock include Berkshire Hathaway Inc, Petroleum Corp /De/ Occidental, Christopher O Champion, Vicki A Hollub, Avedick Baruyr Poladian and Stephen I Chazen.
View institutional ownership trends
.

How do I buy shares of Occidental Petroleum?

Shares of OXY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Occidental Petroleum own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Occidental Petroleum investors own include Exxon Mobil (XOM), AT&T (T), Micron Technology (MU), Boeing (BA), Intel (INTC), Wells Fargo & Company (WFC) and Cisco Systems (CSCO).

This page (NYSE:OXY) was last updated on 7/9/2024 by MarketBeat.com Staff

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