Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The company's Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: oxy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/8/2024 | $56.00 | Neutral | JP Morgan |
| 10/17/2024 | $57.00 | Neutral | BofA Securities |
| 10/2/2024 | $55.00 | Neutral | Goldman |
| 7/18/2024 | $81.00 | Outperform | Wolfe Research |
| 5/16/2024 | $84.00 → $69.00 | Buy → Hold | Truist |
| 4/11/2024 | $90.00 | Sector Perform → Sector Outperform | Scotiabank |
| 4/10/2024 | $73.00 | Equal Weight | Barclays |
| 4/8/2024 | $65.00 | Hold | HSBC Securities |
| 1/3/2024 | $63.00 | Buy → Neutral | Mizuho |
| 12/11/2023 | $68.00 | Equal-Weight → Overweight | Morgan Stanley |
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HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced its third quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company's website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission's website at sec.gov. The company will hold a conference call to discuss the results on Wednesday, November 13, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conferen
HOUSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) announced today that its Board of Directors declared a regular quarterly dividend of $0.22 per share on common stock, payable on January 15, 2025, to stockholders of record as of the close of business on December 10, 2024. About Occidental Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our c
HOUSTON, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) will announce its third quarter 2024 financial results after close of market on Tuesday, November 12, 2024, and will hold a conference call to discuss the results on Wednesday, November 13, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10192316/fd653e56d4. Third quarter 2024 financial results will be available through the Investor Relations section of the company's website. A recording of the webcast will
HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced its second quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company's website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission's website at sec.gov. The company will hold a conference call to discuss the results on Thursday, August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference ca
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced its second quarter 2024 financial and operational results and revised 2024 guidance. Recent Financial and Operational Highlights Reported crude oil and total average production of 152.9 MBbls/d and 338.8 MBoe/d during the quarter Decreased controllable cash costs by 8% quarter-over-quarter to $7.45 per Boe, driven primarily by lower LOE Reduced second quarter D&C costs per foot by ~13% compared to 2023, driven by operational efficiencies Announced cash capital expenditures of $516 million and adjusted free cash flow1 of $332 million ($0.43 per adjusted basic share) Reported total
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced that it has entered into a definitive agreement with Occidental (NYSE:OXY) to purchase ~29,500 net acres, ~9,900 net royalty acres and ~15,000 Boe/d predominantly located directly offset the Company's existing position in Reeves County, Texas for $817.5 million, subject to customary post-closing adjustments. The effective date of the transaction is July 1, 2024, with closing expected to occur by the end of the third quarter of 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240728309912/en/Permian Resources Acquired Acreage Map (G
HOUSTON, July 25, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) announced today that its Board of Directors declared a regular quarterly dividend of $0.22 per share on common stock, payable on October 15, 2024, to stockholders of record as of the close of business on September 10, 2024. About Occidental Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical
HOUSTON, July 02, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) will announce its second quarter 2024 financial results after close of market on Wednesday, August 7, 2024, and will hold a conference call to discuss the results on Thursday, August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10189702/fca6e74d6e. Second quarter 2024 financial results will be available through the Investor Relations section of the company's website. A recording of the webcast will be
HOUSTON, May 07, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced its first quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company's website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission's website at sec.gov. The company will hold a conference call to discuss the results on Wednesday, May 8, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call a
HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) announced today that its Board of Directors declared a regular quarterly dividend of $0.22 per share on common stock, payable on July 15, 2024, to stockholders of record as of the close of business on June 10, 2024. About Occidental Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our chemical subsidia
JP Morgan resumed coverage of Occidental Petro with a rating of Neutral and set a new price target of $56.00
BofA Securities resumed coverage of Occidental Petro with a rating of Neutral and set a new price target of $57.00
Goldman resumed coverage of Occidental Petro with a rating of Neutral and set a new price target of $55.00
Wolfe Research resumed coverage of Occidental Petro with a rating of Outperform and set a new price target of $81.00
Truist downgraded Occidental Petro from Buy to Hold and set a new price target of $69.00 from $84.00 previously
Scotiabank upgraded Occidental Petro from Sector Perform to Sector Outperform and set a new price target of $90.00
Barclays initiated coverage of Occidental Petro with a rating of Equal Weight and set a new price target of $73.00
HSBC Securities initiated coverage of Occidental Petro with a rating of Hold and set a new price target of $65.00
Mizuho downgraded Occidental Petro from Buy to Neutral and set a new price target of $63.00
Morgan Stanley upgraded Occidental Petro from Equal-Weight to Overweight and set a new price target of $68.00
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HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced its third quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company's website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission's website at sec.gov. The company will hold a conference call to discuss the results on Wednesday, November 13, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conferen
HOUSTON, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) announced today that its Board of Directors declared a regular quarterly dividend of $0.22 per share on common stock, payable on January 15, 2025, to stockholders of record as of the close of business on December 10, 2024. About Occidental Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Our c
HOUSTON, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) will announce its third quarter 2024 financial results after close of market on Tuesday, November 12, 2024, and will hold a conference call to discuss the results on Wednesday, November 13, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10192316/fd653e56d4. Third quarter 2024 financial results will be available through the Investor Relations section of the company's website. A recording of the webcast will
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced the closing of its previously announced acquisition of certain leasehold and royalty interests and related midstream infrastructure from Occidental (NYSE:OXY). The acquired assets consist of ~29,500 net acres, ~9,900 net royalty acres and substantial midstream infrastructure primarily located offset the Company's existing position in Reeves County, Texas. About Permian Resources Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Com
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 award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive's ability to use their decades-long expertise in carbon management to accelerate the vital climate technology. The funding will be provided in multiple tranches. The initial award of $50 million will advance 1PointFive's ongoing work at the South Texas DAC Hub. Upcomin
Achieved $3 billion in principal debt reduction in the third quarter of 2024Public offering of a portion of Occidental's common units of Western Midstream Partners, LP, raised $700 million, bringing total 2024 year-to-date closed or announced divestments to approximately $1.7 billionFollowing close of the previously announced Delaware Basin Barilla Draw divestiture, which is expected late in the third quarter, Occidental expects a total year-to-date reduction of over $3.8 billion in principal debt 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 cas
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 is expected to close on August 14, 2024, subject to customary closing conditions. The Selling Unitholders have granted Barclays, as the underwriter, a 30-day option to purchase up to 2,850,000 additional Common Units from the Selling Unitholders at the public offering price less underwriting discounts and
HOUSTON, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced the launch of an underwritten secondary public offering of 29,560,619 shares of its common stock by CrownRock Holdings, L.P. (the "Selling Stockholder"). Occidental is not offering any shares of common stock in the offering. The Selling Stockholder will receive all of the proceeds from the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed. J.P. Morgan, Morgan Stanley and RBC Capital Markets are acting as the underwriters for the offering. The underwriters may offer the shares of common stock from time t
HOUSTON, Aug. 12, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE: WES) ("WES") announced today the commencement of an 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"). The Selling Unitholders intend to grant Barclays, as the underwriter, a 30-day option to purchase up to 2,850,000 additional Common Units from the Selling Unitholders. WES is not selling any Common Units in the offering and will not receive any proceeds from the sale of Common Units in the offering. The offering is subject to market and other conditions, and there can be
HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced its second quarter 2024 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company's website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission's website at sec.gov. The company will hold a conference call to discuss the results on Thursday, August 8, 2024, at 1 p.m. Eastern/12 p.m. Central. The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference ca
Investors with a lot of money to spend have taken a bearish stance on Occidental Petroleum (NYSE:OXY). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with OXY, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 19 uncommon options trades for Occidental Petroleum. This isn't normal. The overall sentiment of these big-money traders is split between 36% bullish and 52%, bearish. Out of
Truist Securities analyst Neal Dingmann maintains Occidental Petroleum (NYSE:OXY) with a Hold and lowers the price target from $69 to $67.
- Reuters
- SEC Filing
The CrownRock acquisition is expected to close in August, after completion of the financing marketing period contemplated by the CrownRock purchase agreement.
Wolfe Research analyst Doug Leggate reinstates Occidental Petroleum (NYSE:OXY) with a Outperform.
Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum. Looking at options history for Occidental Petroleum (NYSE:OXY) we detected 8 trades. If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 37% with bearish. From the overall spotted trades, 2 are puts, for a total amount of $75,680 and 6, calls, for a total amount of $549,350. Expected Price Movements Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $67.5 for Occidental Petroleum over the recent three months. Volume & Open Intere
Stephens & Co. analyst Mike Scialla maintains Occidental Petroleum (NYSE:OXY) with a Overweight and lowers the price target from $78 to $77.
Scotiabank analyst Paul Cheng maintains Occidental Petroleum (NYSE:OXY) with a Sector Outperform and lowers the price target from $90 to $80.
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