Occidental Petroleum Corporation (OXY) Share Price

Occidental Petroleum (OXY) Stock Pops on Buffett Stake
By: Schaeffer's Investment Research | December 20, 2024

• Berkshire Hathaway bought up additional Occidental Petroleum shares

• The shares are rebounding from two-year lows

Shares of Occidental Petroleum Corp (NYSE:OXY) are up 4.4% at $47.36 at last glance, after Warren Buffett's Berkshire Hathaway (BRK) bought an addition 8.9 million shares in the energy producer. This is just one of the conglomerate's moves to buy stocks on the dip after the recent selloff, and Occidental is Berkshire's sixth-largest equity holding.

OXY has moved lower since breaking below support at the $50 level earlier this month, and yesterday hit a two-year low of $45.17. The stock's "oversold" condition could contribute to a rebound, per its 14-day relative strength index (RSI) of 17.5. Since the start of the year, the equity is down 21.1%.

Options traders appear to be betting on an upside as well. So far today, OXY has seen 49,000 calls exchanged -- triple the amount typically seen at this point -- in comparison to 7,653 puts. The expiring December 47 call is the most popular, followed by the 46.50 call in the same series, with positions being opened at both.

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Berkshire Hathaway purchased more Occidental Petroleum shares:
Berkshire Hathaway purchased additional 8.9 million shares in the Houston-based energy producer for $405 million through transactions Tuesday, Wednesday and Thursday, pushing its stake above 28%, according to a regulatory filing late Thursday night.
https://www.cnbc.com/2024/12/20/warren-buffetts-berkshire-hathaway-scoops-up-occidental-and-other-stocks-during-sell-off.html

$OXY

Occidental Petroleum $OXY fell to its lowest price since March 2022. Can't believe Warren Buffett kept this but sold 2/3 of his Apple $AAPL
By: Barchart | December 16, 2024

• Occidental Petroleum

$OXY fell to its lowest price since March 2022. Can't believe Warren Buffett kept this but sold 2/3 of his Apple $AAPL.



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4th consecutive red day for Occidental Petroleum $OXY as it hits its lowest closing price since March 2022
By: Barchart | December 5, 2024

• 4th consecutive red day for Occidental Petroleum $OXY as it hits its lowest closing price since March 2022.



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$OXY trades below the danger zone and closes at its lowest price since March 2022
By: Barchart | December 4, 2024

• BREAKING: Occidental Petroleum

$OXY trades below the danger zone and closes at its lowest price since March 2022



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Occidental Petroleum $OXY hanging tough here
By: Barchart | November 14, 2024

• Occidental Petroleum $OXY hanging tough here.



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Occidental Petroleum posts EPS beat, Sales miss:
By: TrendSpider | November 12, 2024

• Occidental Petroleum posts EPS beat, Sales miss:

~EPS: $1.00 vs $0.74 est
~SALES: $7.15B vs $7.23B est

$OXY +0.64% in after hours

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I was traveling all last week. Back at it today and I see that $OXY has reclaimed 50 support.

$OXY 50 support failed.

$OXY Support at 50 being tested for the third consecutive day. Triple bottom going back to September.

Occidental Petroleum $OXY hovering at lowest price in more than 2.5 years and well below Warren Buffett's average entry
By: Barchart | October 29, 2024

• BREAKING: Occidental Petroleum

$OXY hovering at lowest price in more than 2.5 years and well below Warren Buffett's average entry.



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Double bottom failed.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175289391

$OXY

Occidental Petroleum Corp (OXY) Stock Sliding After Israel's Attack on Iran
By: Schaeffer's Investment Research | October 28, 2024

• Disruptions to crude production are unlikely

• Israel spared Iran's crude production facilities

Oil prices are sliding on the heels of Israel's attack on Iran over the weekend. The former spared the latter's energy facilities, though, so disruptions to crude production are unlikely. Below, let's check in with both Occidental Petroleum Corp (NYSE:OXY) and APA Corp (NASDAQ:APA) to see how shares are responding to geopolitical tensions.

OXY was last seen down 1.3% to trade at $50.88, and earlier hit its lowest level in over one month. Shares gapped below the 20-day moving average after a rally earlier this month fell short of the $57 level. Fresh off their third-straight weekly loss, Occidental Petroleum stock is down 14.8% this year.

APA is also struggling, down 3.5% at $23.95 at last glance. The hydrocarbon exploration stock has support at the $23 level, but has failed to conquer the $28 level twice this month as it struggles with long-term pressure at the descending 60-day moving average. Over the last 12 months, APA shed 40.3%.

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$OXY Possible double bottom on the daily chart; last Thursday/Friday and yesterday/today.

Occidental Petroleum $OXY hovering near 2.5 year lows
By: Barchart | October 22, 2024

• Occidental Petroleum $OXY hovering near 2.5 year lows.



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$OXY Here's your chance to invest along with Uncle Warren
By: Cam Hui | October 18, 2024

• Here's your chance to invest along with Uncle Warren
$OXY



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I'd say that we are in very good company!

$OXY https://x.com/RealNickMugalli/status/1843196528854266209

https://www.zerohedge.com/markets/historic-short-squeeze-oil-has-only-begun

Buffett picked up a position in $OXY back in June at/around $60/share. I'm holding 21MAR25 60 calls; got in yesterday. There is a whale there who picked up nearly $4M of these calls a couple days ago, so I decided to "follow the money." Current pps is ~55, so Buffett's position is slightly red, atm. The whale followed Buffett and I followed the whale.

https://www.cnbc.com/2024/06/18/warren-buffett-buys-occidental-shares-for-9-straight-days-pushes-his-stake-to-nearly-29percent.html

Warren Buffett's $OXY position now sits at a massive 255 million shares, valued at over $13 billion
By: TrendSpider | September 29, 2024

• Warren Buffett's $OXY position now sits at a massive 255 million shares, valued at over $13 billion.

Will he step in here at the 200-Week SMA to buy more?



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Warren Buffet took a position here recently

Now or never for Occidental Petroleum $OXY
By: Barchart | August 22, 2024

• Now or never for Occidental Petroleum $OXY.



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Occidental Petroleum posts double beat for the quarter:
By: TrendSpider | August 7, 2024

• Occidental Petroleum posts double beat for the quarter:

~EPS: $1.03 vs $0.77 est
~SALES: $6.82B vs $6.80B est

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Occidental Petroleum $OXY forms a Death Cross (50D moving average crossing below the 200D)
By: Barchart | July 29, 2024

• Occidental Petroleum $OXY forms a Death Cross (50D moving average crossing below the 200D).



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Death Cross imminent for Occidental Petroleum $OXY
By: Barchart | July 26, 2024

• Death Cross imminent for Occidental Petroleum $OXY.



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Occidental Petroleum $OXY closes below its 200D moving average
By: Barchart | July 22, 2024

• Occidental Petroleum $OXY closes below its 200D moving average.



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Occidental Petroleum $OXY under investigation for collusion with OPEC
By: Barchart | July 19, 2024

• JUST IN: Occidental Petroleum $OXY under investigation for collusion with OPEC.



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Occidental Petroleum Launches $376.1 Million Senior Notes Exchange Offer
By: MT Newswires | July 19, 2024

Occidental Petroleum OXY said Friday it has launched a private exchange offer for any outstanding 5% senior notes due 2029 for up to roughly $376.1 million worth of new notes to be issued by Occidental along with cash.

The exchange offer will expire on Aug. 16, unless extended or terminated by the company, it said.

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Where Fundamentals Meet Technicals: OXY
By: Lyn Alden Schwartzer | June 28, 2024

This issue of Where Fundamentals Meet Technicals re-iterates my bullish view on energy names.

As I sit here typing this piece in Cairo, I can unfortunately report that Egypt faces daily rolling power outages, which are caused primarily by natural gas shortages. The grid operators spare my neighborhood from them, but most neighborhoods throughout Egypt are facing recurring scheduled power outages as the limited power generators can only power so many of them at once.

Egypt produces lots of gas domestically and also imports gas from Israel, but the total amount is increasingly insufficient for Egypt in the summer months when air conditioning demand is at its highest. They are turning to LNG imports, but there is limited capacity for that in the near term.

This anecdote is one of many, since it’s a common occurrence throughout the developing world. But it underscores how important energy is. There is vast demand for energy throughout emerging markets, and in the long run I expect that their total usage will go up considerably.

In particular, when the dollar index puts in more of a local top, and the Fed begins a rate-cutting cycle, it should alleviate the USD-denominated debt burdens of a number of emerging and frontier markets, and lighten up their liquidity situation enough to active more energy demand.

Occidental Petroleum

Occidental Petroleum (OXY) has been a Buffett darling for a while; Berkshire (BRK.B) just keeps eating it up and now owns over a quarter of the company. It’s a potential acquisition target in the long run.



Zac recently wrote about the stock (and sector):

“It is not like I ENJOY making things diagonals... (well maybe a bissel)

But we are in a larger diagonal for most of the energy names off 2020 lows so this (5) is an ABC. And thus inside the subwaves of the it is not at all abnormal for some of those moves to be diagonals themselves.

The move off the low could be i-ii of (i) of circle here on OXY but it is a bit large for that give the expected size for (i)... it is too small to reliably be a nest (i)-(ii)-i-ii of an impulse for circle c also.

But an a-b and micro 1-2 of c in blue for (i) of an ED would fit very well based on expected circle c-wave Fib PinBall.”



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Warren Buffett sends Occidental Petroleum $OXY soaring back above its 200D moving average
By: Barchart | June 20, 2024

• Warren Buffett sends Occidental Petroleum $OXY soaring back above its 200D moving average.



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Warren Buffett and Berkshire Hathaway $BRK.B filed for their purchase of more Occidental $OXY
By: Evan | June 18, 2024

• Warren Buffett and Berkshire Hathaway $BRK.B filed for their purchase of more Occidental $OXY



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Occidental Petroleum Insider Trading Alert: Warren Buffett loves $OXY! Berkshire Hathaway just loaded up again with a purchase of 1,750,308 shares worth approximately $105.5 million
By: Barchart | June 13, 2024

• Occidental Petroleum Insider Trading Alert

Warren Buffett loves $OXY! Berkshire Hathaway just loaded up again with a purchase of 1,750,308 shares worth approximately $105.5 million



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Berkshire Hathaway Buys Additional 2.6 Million Shares of Occidental Petroleum
By: MT Newswires | June 10, 2024

Berkshire Hathaway BRK.A bought an additional 2.57 million shares in Occidental Petroleum's OXY
common stock over June 5 to June 7, the energy producer said Friday in a regulatory filing.

Following the recent share purchases, Berkshire Hathaway currently owns about 250.6 million shares of Occidental Petroleum, Reuters reported. Berkshire controlled around 28% shares of Occidental Petroleum as of March, according to the report.

Berkshire Hathaway bought 524,340 shares at $59.7452 per share on June 5, followed by 654,293 more shares bought for $59.934 per share on June 6, and an additional 1,386,844 shares purchased at $59.6687 per share on June 7.

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Occidental Petroleum, Berkshire Hathaway form JV to extract lithium
By: Reuters | June 4, 2024

Occidental Petroleum OXY said on Tuesday it had entered into a joint venture with Berkshire Hathaway's BRK.A energy unit to extract lithium.

The energy producer said it would use its technology to extract and commercially produce high-purity lithium compounds at Berkshire's geothermal facility in California.

Lithium is the key metal used in the production of batteries for electric vehicles, consumer electronics and energy grid storage.

Oil majors are investing in the electrification sector as governments in the United States and Europe establish programs to promote the wider use of EVs and reduce fossil-fuel consumption.

Exxon Mobil XOM has plans to start producing lithium from sub-surface wells by 2027, while European oil rivals BP BP. and Shell SHEL have invested in EV charging stations as part of their energy transition strategies.

Occidental said the project would demonstrate the feasibility of using its unit's direct lithium extraction technology to produce lithium in an environmentally safe manner.

BHE Renewables, Berkshire's energy unit, operates 10 geothermal power plants in California's Imperial Valley that can process 50,000 gallons of lithium-rich brine per minute to produce 345 megawatts of clean energy.

Upon successful demonstration, BHE Renewables plans to build, own and operate commercial lithium production facilities in California's Imperial Valley.

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Occidental Petroleum $OXY recaptures its 200D moving average!
By: Barchart | June 1, 2024

• Occidental Petroleum $OXY recaptures its 200D moving average! Warren Buffett celebrating tonight



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Occidental Petroleum $OXY is dumping right through its 200D moving average
By: Barchart | May 29, 2024

• Occidental Petroleum $OXY is dumping right through its 200D moving average. They say nothing good happens below the 200D, but how about another Warren Buffett sighting? His last three buys were all below the 200D moving average in the $56-$60 range. Stay tuned!



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Occidental Petroleum Corporation (OXY) Is a Trending Stock
By: Zacks Investment Research | May 24, 2024

Occidental Petroleum OXY has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this oil and gas exploration and production company have returned -8.7%, compared to the Zacks S&P 500 composite's +4% change. During this period, the Zacks Oil and Gas - Integrated - United States industry, which Occidental falls in, has lost 6.8%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate Revisions

Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Occidental is expected to post earnings of $0.96 per share for the current quarter, representing a year-over-year change of +41.2%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.1%.

The consensus earnings estimate of $3.89 for the current fiscal year indicates a year-over-year change of +5.1%. This estimate has changed +1% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $4.94 indicates a change of +27.1% from what Occidental is expected to report a year ago. Over the past month, the estimate has changed -2%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Occidental is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS



Projected Revenue Growth

Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Occidental, the consensus sales estimate of $7.41 billion for the current quarter points to a year-over-year change of +10.1%. The $30.23 billion and $33.44 billion estimates for the current and next fiscal years indicate changes of +4.5% and +10.6%, respectively.

Last Reported Results and Surprise History

Occidental reported revenues of $6.01 billion in the last reported quarter, representing a year-over-year change of -17.2%. EPS of $0.65 for the same period compares with $1.09 a year ago.

Compared to the Zacks Consensus Estimate of $6.66 billion, the reported revenues represent a surprise of -9.79%. The EPS surprise was +16.07%.

Over the last four quarters, Occidental surpassed consensus EPS estimates two times. The company topped consensus revenue estimates two times over this period.

Valuation

No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Occidental is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom Line

The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Occidental. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

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Truist Downgrades Occidental Petroleum to Hold From Buy on Valuation, Adjusts Price Target to $69 From $84
By: MT Newswires | May 16, 2024

Occidental Petroleum OXY has an average rating of hold and price targets ranging from $53 to $90, according to analysts polled by Capital IQ.

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$OXY Occidental ER just dropped:
By: TrendSpider | May 7, 2024

• $OXY Occidental ER just dropped:

~EPS: $0.63 vs $0.58 est
~SALES: 5.98B vs $6.62B est
~Oil & Gas Pre-Tax Income $1.2B (est $1.26B)
~Realized US Nat Gas Price/MCF $1.61 (est $1.74)

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If you're looking for energy exposure, this pullback spot on Occidental $OXY doesn't look half bad
By: TrendSpider | April 28, 2024

• If you're looking for energy exposure, this pullback spot on Occidental doesn't look half bad. $OXY

Doesn't hurt that Warren Buffett owns ~28% of the entire company.



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We finda be rolling here baby

Occidental Petroleum $OXY jumping to highest price since December 2022, and a Golden Cross formation is imminent
By: Barchart | April 5, 2024

• Occidental Petroleum $OXY jumping to highest price since December 2022, and a Golden Cross formation is imminent.



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Occidental Petroleum Insider actions indicator
By: TrendSpider | March 31, 2024

• There's a million reasons for insiders to sell, but only one reason to buy. $OXY

Insider actions indicator: http://trendspider.cc/insideractions.



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Occidental Petroleum has now traded green for 5 consecutive days, its longest winning streak since September and closed at its highest price since October.
By: Barchart | March 19, 2024

• Occidental Petroleum $OXY has now traded green for 5 consecutive days, its longest winning streak since September and closed at its highest price since October.



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Occidental Petroleum $OXY Two year breakout in the making
By: TrendSpider | March 18, 2024

• $OXY Two year breakout in the making.



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$OXY If energy stocks keep ripping, this monthly setup from Occidental should not be overlooked...
By: TrendSpider | March 15, 2024

• $OXY If energy stocks keep ripping, this monthly setup from Occidental should not be overlooked...

Doesn't hurt that Buffett has been loading the boat, either.



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Occidental Petroleum $OXY with a nice breakout above its 200D moving average. Now trading at its highest price since early November.
By: Barchart | March 14, 2024

• Occidental Petroleum $OXY with a nice breakout above its 200D moving average. Now trading at its highest price since early November.



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Occidental Petroleum Corporation (OXY) Is a Trending Stock: Facts to Know Before Betting on It
By: Zacks Investment Research | March 6, 2024

Occidental Petroleum
OXY
is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this oil and gas exploration and production company have returned +5.2% over the past month versus the Zacks S&P 500 composite's +2.9% change. The Zacks Oil and Gas - Integrated - United States industry, to which Occidental belongs, has gained 3.9% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate Revisions

Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Occidental is expected to post earnings of $0.67 per share for the current quarter, representing a year-over-year change of -38.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -26.8%.

The consensus earnings estimate of $3.67 for the current fiscal year indicates a year-over-year change of -0.8%. This estimate has changed -14.2% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $4.75 indicates a change of +29.4% from what Occidental is expected to report a year ago. Over the past month, the estimate has changed -3.2%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Occidental.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue Growth

While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Occidental, the consensus sales estimate of $6.83 billion for the current quarter points to a year-over-year change of -5.9%. The $29.87 billion and $32.48 billion estimates for the current and next fiscal years indicate changes of +3.3% and +8.7%, respectively.

Last Reported Results and Surprise History

Occidental reported revenues of $7.53 billion in the last reported quarter, representing a year-over-year change of -9.6%. EPS of $0.74 for the same period compares with $1.61 a year ago.

Compared to the Zacks Consensus Estimate of $7.14 billion, the reported revenues represent a surprise of +5.47%. The EPS surprise was 0%.

Over the last four quarters, the company surpassed EPS estimates just once. The company topped consensus revenue estimates two times over this period.

Valuation

No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Occidental is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Conclusion

The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Occidental. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

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$OXY $1.5 Million Unusual Put Sell Order
By: Cheddar Flow | February 26, 2024

• $OXY $1.5M Unusual Put Sell Order

This whale is looking to collect the premium on these contracts

Vol > OI so it is being sold to open

*Below the Bid*



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