Occidental Petroleum Stock News

Occidental Petroleum stock has dropped 20% since hitting highs in April.

Investors have had a rough start to the new week as stock indexes worldwide collectively wiped out trillions of dollars in value. This is a big change from the easy money and ‘everything' rally days that started during the COVID-19 pandemic when most stocks became winners because central banks everywhere injected record amounts of capital into the system.

The energy sector is going through massive changes – you don't need me to tell you that. Obviously, one of the key drivers for energy stocks is simple math.

Heightened volatility on Wall Street means contrarian stock picks can be a game-changer for savvy investors. A contrarian investing strategy involves buying overlooked assets with the expectation that they will eventually increase in value.

Warren Buffett's conglomerate Berkshire Hathaway (NYSE: BRK-A , NYSE: BRK-B ) is always of interest among market participants. Known as the Oracle of Omaha, Buffett is a legendary investor: when he speaks, people listen.

Occidental Petroleum has assets in both the upstream and midstream links of the energy value chain. The company generates strong free cash flow from which it can source its dividend payments.

HOUSTON, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that it has elected to terminate its previously announced offer to exchange (the “Exchange Offer”) any and all outstanding 5.000% Senior Notes due 2029 (the “CrownRock Notes”) issued by CrownRock, L.P. (“CrownRock”) and CrownRock Finance, Inc. (“CrownRock Finance” and, together with CrownRock, the “CrownRock Notes...

Occidental Petroleum said on Thursday it has closed its $12 billion deal to buy CrownRock.