Occidental Petroleum's stock soars to lead S&P 500 gainers, as crude oil prices rally toward a 13-month high [MarketWatch]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: MarketWatch
Shares of Occidental Petroleum Corp. shot up 9.1% in afternoon trading Wednesday, fueled by a surge in crude oil prices to 13-month highs and continued praise from Wall Street analysts regarding the oil and gas company's plans to reduce debt. The stock, which was the biggest gainer in the S&P 500 , is on track to close at its highest price since March 5. The company had reported after Monday's closing bell a wider-than-expected loss and a revenue miss for the third-straight quarter, but said it remained focused on strengthening its balance sheet by using asset sales to reduce debt and to extend current debt maturities. Analyst Neal Dingmann at Truist reiterated his hold rating but raised his stock price target to $28 from $24, saying the company continues to "best manage its material debt," which positions it for an eventual return to dividend growth. Meanwhile, continuous crude oil futures rallied 2.4% toward the highest settlement since Jan. 6, 2020. Over the past three months, Occi
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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