Occidental Petroleum Stock News

OXY trades at ~$51, with a target of $60, reflecting an 18% upside, anchored by Fibonacci resistance levels. An RSI of 27.46 signals oversold conditions, potentially undervaluing OXY; no immediate reversal is expected due to bearish sentiment. Occidental achieved record production in Q2 2024, with $1.3 billion in free cash flow before working capital adjustments.

Warren Buffett has watched his company grow into a trillion-dollar business. Despite being a proponent of the U.S. economy and preaching a long-term ethos, Buffett has sold more stock than he's purchased for Berkshire Hathaway since the start of the fourth quarter in 2022.

Occidental Petroleum recently declined to multi-year lows when oil prices fell below $70. Current oil prices are the lowest seen since 2021. Most signs (output, demand and others) indicate that if a recession doesn't happen soon, then oil prices will rise.

Despite weak momentum and bearish technicals, I maintain a buy rating on Occidental Petroleum due to strong fundamentals, high cash flow, and favorable earnings outlook. OXY's Q2 results beat expectations, with EPS of $1.03 and revenue of $6.88 billion, leading to several Wall Street upgrades. Risks include falling oil prices, a strong dollar, rising labor costs, and potential interest rate inc...

Occidental Petroleum's carbon capture and sequestration unit 1PointFive said on Thursday that the U.S. Department of Energy's Office of Clean Energy Demonstrations has committed up to $500 million to support the development of its South Texas Direct Air Capture (DAC) Hub.

HOUSTON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- 1PointFive, a wholly owned subsidiary of Occidental, announced today that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub.

The energy sector has experienced a significant pullback in recent months, which could present compelling buying opportunities for value investors. While the sector remains up 2.59% year-to-date, it's far off the double-digit gains it saw earlier in the year.

Occidental Petroleum's share price is hovering around its lowest level in more than two years. Mastercard showcases that true value lies in future earnings growth.