Chevron Posts Record Profit, Bolstering $75 Billion Buyback Plan [BNN Bloomberg (Canada)]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: BNN Bloomberg
unprecedented cash flow that will underpin a mammoth $75 billion share-buyback program. Adjusted 2022 earnings more than doubled to $36.5 billion from a year earlier while oil and natural gas output from the company's US fields climbed almost 4% to the equivalent of 1.181 million barrels a day, Chevron said in a statement on Friday. The blockbuster profit report is likely to irk oil-industry critics in the White House and Congress already incensed by the second-largest US oil explorer's announcement just days ago of plans to repurchase $75 billion of its own stock. The amount devoted to buybacks would be enough to buy Occidental Petroleum Corp. or almost any other domestic competitor. Although Chevron's full-year results surpassed Wall Street expectations by most standard performance metrics, fourth-quarter adjusted earnings of $4.09 a share fell 18 cents shy of the Bloomberg Consensus estimate. The explorer also disclosed a $1.1 billion writedown on international assets without
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News
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- 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
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