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"We're in a situation now where in a couple of years time we're going to be very short on supply," Occidental CEO Vicki Hollub said.
Occidental Petroleum CEO Vicki Hollub joins 'Squawk on the Street' to discuss how Red Sea disruptions affect the oil market, if the market is out of balance, and more.
Occidental (OXY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Occidental Petroleum (OXY) concluded the recent trading session at $58.22, signifying a -0.31% move from its prior day's close.
Occidental Petroleum stock has underperformed the S&P 500 recently following the overall underperformance of the energy sector. The oil market is influenced by geopolitical risks and well-supplied oil stocks, leading to indecision among investors. But I think it's a temporary headwind for OXY and the energy sector. Occidental's recent results reflect lower earnings amid decreased commodity prices. Despite this, OXY's stable debt and liquidity ratios suggest resilience. I anticipate a production expansion amid oil prices stabilizing.
Finding dividend stocks to buy and hold isn't a matter of chasing yield alone— far too many companies facing limited growth potential instead elect to throw cash to shareholders in an attempt at appeasement. Worse yet, some companies even borrow money to juice dividend yield.
In the latest trading session, Occidental Petroleum (OXY) closed at $56.73, marking a -0.02% move from the previous day.
The U.S. Federal Trade Commission (FTC) has requested Occidental and Crownrock for additional information and documentary materials related to their pending merger, the companies said on Monday.
Warren Buffett has continued accumulating shares of Occidental Petroleum Corporation even as near-term weakness persists. He likes buying when others fear. OXY has posted a 3-year total return of nearly 150%, and Buffett's conviction in the stock suggests that the recent underperformance could be just a near-term blip. OXY presents an attractive opportunity for investors as oil futures remain well-poised for recovery amid potential supply shortages in the medium term.
Occidental beat out Chevron on an acquisition, and Chevron proved to be the more reliable dividend stock. EnLink is working to capture the same potentially massive opportunity as Occidental Petroleum.