Occidental Petroleum (OXY) Stock

Users of Zacks.com have been paying a lot of attention to Occidental (OXY) lately. Therefore, it's important to understand the key information that could influence the stock's future.

OXY's significant operations in the Permian Basin and support from its international assets are enhancing its performance, even with the challenges posed by changing commodity prices.

Occidental Petroleum has reached 90% of an important target. Is it the right moment to invest in this oil stock?

Warren Buffett has invested $12.9 billion in a single stock that Wall Street believes could increase by 25%. This significant investment highlights the confidence in that particular stock. Analysts are optimistic about its potential growth.

Occidental has a large area in the Delaware basin and the ability to reduce costs, which sets it up for future growth. The company can replace its reserves affordably and make use of its current infrastructure. While its recent financial results are good, the short-term outlook is careful because of fluctuating oil prices.

The transcript of Occidental Petroleum Corporation's (OXY) earnings call for the third quarter of 2024 is available.

OXY's earnings for the third quarter exceeded expectations. The increase in sales volume helped boost profits, but this was somewhat balanced out by lower prices for commodities.

Occidental Petroleum exceeded expectations for the third quarter. While expansionary monetary policies and low-interest rates can temporarily help the stock market, long-term use of these policies could lead to economic problems later on. The company secured $500 million for its low carbon project, which strengthens its secondary recovery operations and potential for future profits.

Occidental Petroleum (OXY) reported quarterly earnings of $1 per share, which is higher than the Zacks Consensus Estimate of $0.80 per share. This is a decrease compared to earnings of $1.18 per share from the same period last year.