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OXY LATEST HEADLINES
Buffett listed two long-time Berkshire holdings as stocks the conglomerate will likely own "indefinitely." He also added six other stocks to the group: an oil and gas innovator and five Japanese trading houses.
Occidental Petroleum stock traded sideways in 2023. Now generating high levels of free cash flow, an upcoming acquisition could further improve the company's financial position.
Berkshire Hathaway's CEO also highlighted the challenges of the company's railroad, utility businesses.
Occidental Petroleum is considering selling its stake in Western Midstream Partners. A sale would enable it to quickly repay the debt it will take on to acquire CrownRock.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
Oxy's 2023 results were solid, but well below its record numbers from 2022. The energy company did a good job of paying down its debt, but it will offset that progress with its acquisition of CrownRock.
Occidental Petroleum is mulling a divestment of its 50% stake in Western Midstream Partners, according to a Reuters article published on Tuesday. Western Midstream's market capitalisation is currently valued at $11.76 billion, with debt bringing its enterprise value closer to $20 billion.
Occidental has grown its dividend rapidly since resetting the payout during the pandemic. The oil company's top priority is paying a sustainable and growing dividend.
Occidental Petroleum reported solid earnings last year despite volatile oil and gas prices. The company's chemical business had a strong year.
Occidental Petroleum Corporation (OXY) Q4 2023 Earnings Call Transcript