Occidental Petroleum Stock News

HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced it has achieved $3 billion in principal debt reduction in the third quarter of 2024, utilizing robust organic cash flow from operations and proceeds from divestitures.

Although Buffett recently sold shares of one of these stocks, it remains a great long-term pick. Another offers a low valuation and a great dividend.

Alibaba's fee-based revenue model is turning out robust free cash flows that are undervalued by the market. Occidental Petroleum has a plan to profitably expand its energy assets.

Earlier this month, Wharton's Jeremey Siegel suggested that the Fed should “make an emergency 75 basis-point cut in the federal funds rate.” This suggestion came after a disappointing jobs report.

Despite last week's market dip, energy stocks have seen steady performance this year. As a result, many energy companies are seeing a relatively easy comeback trail ahead of them.

Occidental Petroleum is selling some of its stake in Western Midstream. The sale will bring in cash to help repay debt.

Occidental partial sale of WES units is bullish for long-term investors as it makes taking private scenario unlikely. A flurry of new commercial agreements, commissioning of new gas plants, and reduction in Capex promise increased cash flows in 2024, and beyond. It should translate to growth in distributions. WES has achieved a stronger balance sheet, allowing for more flexibility in pursuing M...

HOUSTON , Aug. 12, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE: WES) ("WES") announced today the pricing of the previously announced underwritten secondary public offering of 19,000,000 common units representing limited partner interests in WES ("Common Units") by affiliates of Occidental (NYSE: OXY) (the "Selling Unitholders"), for gross proceeds of $685.9 million. The offering i...