Occidental Petroleum: The Casino Opens [Seeking Alpha]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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US:NYSE Investor Relations:
oxy.com/investors/pages/default.aspx
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Source: Seeking Alpha
SummaryThe worst may be over for Occidental.Occidental probably needs at least average WTI prices in the next fiscal year and the years after that to deleverage.Coronavirus demand destruction and the OPEC price war changed a viable deleveraging plan into a very speculative one.In more normal industry times, the preferred stock requirements and additional debt would have been more than offset by the cash flow of the acquired properties.The debt due schedule went from routine to extremely challenging. So far, management has been up to the challenge.Occidental Petroleum(NYSE:OXYNow, though, it might be time to look at the "casino stocks" that have a reasonable chance of heading towards investment-grade designation. Occidental Petroleum is one of those stocks.The acquisition did make Occidental more leveraged. However, the acquisition also added cash flow. Should oil prices rise and stabilize at a decent level, then Occidental cash flow could be sufficient. More decent oil prices should a
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OXY
News
- Occidental Stock Is Still Quite Undervalued [Seeking Alpha]Seeking Alpha
- Occidental Petroleum Co. (NYSE: OXY) had its price target raised by analysts at Susquehanna from $70.00 to $81.00. They now have a "positive" rating on the stock.MarketBeat
- With 52% ownership of the shares, Occidental Petroleum Corporation (NYSE:OXY) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Looking for Once-in-a-Generation Investment Opportunities? Here Are 3 Magnificent Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
- Chevron the Venture Capitalist: The Oil Giant Is Pumping $500 Million Into the Future of Energy [Yahoo! Finance]Yahoo! Finance
OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website