Is Occidental Petroleum Stock a Buy? [The Motley Fool]
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: The Motley Fool
Shares ofOccidental Petroleum(NYSE:OXYThe steep sell-off in Occidental Petroleum's stock, however, might have some investors wondering if it's now a deep value buy. Here's the case for and against buying shares of this oil giant.Image source: Getty Images.Why investors might consider buying Occidental PetroleumOccidental Petroleum has taken swift action to adjust its operations to lower oil prices. In early March, the companyslashed its dividendby 86% and reduced its capital spending plan from a range of $. billion-$. billion down to $. billion-$.7 billion. These moves would enable the company to sustain its operations on the cash flows produced from a low $0s oil price. The company would go on toreduce its budget even furtherto a range of $.7 billion-$.9 billion a few weeks later due to the continued weakness in oil prices. Those moves should help buy it more time to address its debt problem.Meanwhile, Russia and Saudi Arabia recently ended their price war in a big way. The two count
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OXY
News
- US drillers cut oil and gas rigs for third week in a row - Baker Hughes [Reuters]Reuters
- Occidental Petroleum Corporation (NYSE:OXY) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Trump promises oil execs to end EVs once and for all in exchange for $1 billion in campaign donations, Washington Post reports [Fortune]Fortune
- Occidental Petroleum Co. (NYSE: OXY) had its price target lowered by analysts at Wells Fargo & Company from $70.00 to $68.00. They now have an "equal weight" rating on the stock.MarketBeat
- Analyst Forecasts Just Became More Bearish On Occidental Petroleum Corporation (NYSE:OXY) [Yahoo! Finance]Yahoo! Finance
OXY
Earnings
- 5/7/24 - Beat
OXY
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- OXY's page on the SEC website