OXY Stock Recent News

The US economy is showing signs of slowing, with the labor market cooling, consumer sentiment weak, Q3 GDP expected to slow to ~1.3%, and inflation still above the Fed's 2% target. Stagflation is now becoming a real risk. Markets are expensive; the S&P 500 is near all-time highs, and broad-market ETFs like VOO, QQQ, and VTI may only deliver modest returns over the next few years.

Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.

The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower oil prices and the biggest consolidation in a generation, in what could mark the end of the rapid output growth that made the U.S. the world's top producer.

OXY's $7.5 billion debt cut, lower interest costs and asset sales boost flexibility and support growth prospects in energy and low-carbon projects.

OXY's strong U.S. asset base from the Permian to the Gulf of America underpins cash flow stability and long-term growth prospects.

As groups seek to combat the significant rise in atmospheric carbon dioxide (CO₂) on Earth, the carbon capture and sequestration (CCS) market is set to become an increasingly large part of the economy. Fortune Business Insights values the global CCS market at approximately $4.5 billion in 2025.

Warren Buffett, the Oracle of Omaha, is the master of the sly stock grab, quietly amassing stakes in undervalued companies while the market naps. His recent moves, like boosting Berkshire Hathaway Inc's BRK BRK holdings in Occidental Petroleum Corp OXY and VeriSign Inc VRSN, prove he's still got a nose for hidden gems.

Occidental Petroleum is undervalued after recent share price declines, despite strong cash flow and efficient operations supporting robust shareholder returns. The company has aggressively reduced debt, improved operational efficiency, and expects significant free cash flow growth through 2027, even at low oil prices. Innovative projects like Stratos position Occidental for future decarbonization opportunities, adding long-term value beyond traditional oil production.

The name Occidental Petroleum (OXY -1.38%) gets more attention than it used to, thanks to the involvement of Warren Buffett and Berkshire Hathaway (BRK.A -0.15%) (BRK.B -0.11%), the company Buffett runs. Given the Oracle of Omaha's fame as an investor, some might buy Occidental Petroleum for this fact alone.

Warren Buffett's company, Berkshire Hathaway (BRK.A -0.40%) (BRK.B 0.83%), continues to be a big believer in Occidental Petroleum (OXY 1.63%). It's easy to see why when looking at the oil giant's recently reported second-quarter results.