Occidental Petroleum (NYSE:OXY) Stock

Occidental Petroleum

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,327 thousand barrels of oil equivalent per day in 2024 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.

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Benzinga examined the prospects for many investors&#39; favorite stocks over the last week — here&#39;s a look at some of our top stories.

Benzinga Bulls And Bears: SMCI, Jet.AI, Palantir, OXY And Wall Street Retreats From Record Highs

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Leveraged and inverse ETNs cater to active traders looking for higher exposure to high-momentum sectors.

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JPMorgan analysts shared their take on Devon Energy Inc. (NYSE: DVN) and Occidental Petroleum Inc. (NYSE: OXY) following their latest earnings reports, highlighting key financial moves and production outlooks. Here&#39;s what you know.O

JPMorgan Weighs In On Devon Energy And Occidental Petroleum After Earnings

Occidental Petroleum Corporation Common Stock

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Occidental Petroleum Corporation Warrants

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
This week, Wall Street retreated from record highs, influenced by Walmart's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) cautious profit outlook and the Federal Reserve's emphasis on persistent inflation risks. Walmart's stock declined by 6.5% after its profit forecast fell short of analysts&#8217; expectations, <a href="https://www.benzinga.com/news/econ-s/25/02/43895372/walmarts-warning-fed-highlights-inflation-risks-chinese-stocks-surge-this-week-in-markets">raising concerns about consumer spending</a> amid ongoing inflation and trade uncertainties.
The Federal Reserve, in its latest meeting minutes, <a href="https://www.benzinga.com/25/02/43829352/fomc-minutes">highlighted the need for more evidence of cooling inflation</a> before considering rate cuts. Officials also pointed to potential inflationary pressures from possible shifts in trade and immigration policies, as well as supply chain disruptions due to geopolitical tensions.
In contrast, Chinese technology stocks experienced a surge, with Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) rising 8.1% following strong earnings and optimistic guidance. This rally was bolstered by speculation of potential monetary policy easing by China&#8217;s central bank and anticipated fiscal stimulus measures from policymakers.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls
<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43812953/super-micro-computer-stock-continues-to-climb-whats-going-on">"Super Micro Computer Stock Continues To Climb: What's Going On?"</a>, by Adam Eckert, reports that Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares surged 16.5% after the company announced strong preliminary first-quarter results and reassured investors by confirming it will file delayed financial reports by the Feb. 25 deadline, addressing governance concerns.
<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43787535/archer-aviation-stock-is-rising-tuesday-whats-going-on">"Archer Aviation Stock Is Rising Tuesday: What's Going On?"</a>, by Adam Eckert, reports that Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) shares climbed 8.16% after the company secured FAA certification to launch its pilot training academy, a key milestone in its goal to begin electric air taxi operations in 2025, with only one more regulatory approval remaining.
<a href="https://www.benzinga.com/25/02/43819990/jetai-targets-ai-infrastructure-growth-with-new-data-center-in-nevada-stock-skyrockets">"Jet.AI Targets AI Infrastructure Growth With New Data Center In Nevada, Stock Skyrockets"</a>, by Shivani Kumaresan, reports that Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares soared 69% after the company unveiled plans for a 50-megawatt AI data center in Nevada, aiming for a full gigawatt capacity, as it seeks to capitalize on the surging demand for artificial intelligence infrastructure.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825695/xrp-rallies-5-on-etf-news-what-is-going-on">XRP Rallies 5% On ETF News: What Is Going On?</a>
<a href="https://www.benzinga.com/general/entertainment/25/02/43855319/apple-stock-set-for-streaming-lift-severance-breaks-record-after-x-ads-tim-cook-promo">Apple Stock Set For Streaming Lift? ‘Severance' Breaks Record After X Ads, Tim Cook Promo</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43816112/hedge-fund-shake-up-tiger-appaloosa-soros-outperform-buffett-icahn-ackman">Hedge Fund Shake-Up: Tiger, Appaloosa, Soros Outperform Buffett, Icahn, Ackman</a>
The Bears
<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43857040/palantir-stock-tanks-10-as-ceo-sell-plan-defense-budget-cuts-spark-sell-off">"Palantir Stock Tanks 10% As CEO Sell Plan, Defense Budget Cuts Spark Sell-Off"</a>, by Surbhi Jain, reports that Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares plunged 10% after CEO Alex Karp announced plans to sell nearly 10 million shares, raising investor concerns, while potential U.S. defense budget cuts threaten the company's lucrative government contracts, intensifying the sell-off.
<a href="https://www.benzinga.com/25/02/43799173/occidental-petroleum-q4">"Occidental Petroleum Shares Slide After Mixed Q4 Results: EPS Beat, Revenues Miss"</a>, by Erica Kollmann, reports that Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) posted fourth-quarter earnings of 80 cents per share, surpassing analyst expectations of 70 cents, while revenue fell to $6.83 billion, missing the projected $7.05 billion.
<a href="https://www.benzinga.com/25/02/43868719/dropbox-stock-falls-after-q4-report-arr-slips-paying-users-decrease">"Dropbox Stock Falls After Q4 Report: ARR Slips, Paying Users Decrease"</a>, by Erica Kollmann, reports that Dropbox Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) shares fell 8.6% after the company announced a slight decrease in annual recurring revenue and a reduction of 15,000 paying users in the fourth quarter, despite exceeding earnings and revenue expectations.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/general/market-summary/25/02/43884153/us-services-drop-sharply-darkening-picture-of-high-prices-uncertainty-economist-says">US Services Drop Sharply: ‘Darkening Picture' Of High Prices, Uncertainty, Economist Says</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43795095/viking-bails-on-apple-tesla-and-trims-nvidia-is-this-a-big-tech-rethink">Viking Bails On Apple, Tesla And Trims Nvidia: Is This A Big Tech Rethink?</a>
<a href="https://www.benzinga.com/news/earnings/25/02/43869433/walmart-expects-slower-growth-in-an-uncertain-time-cfo-says-on-earnings-call">Walmart Expects Slower Growth In ‘An Uncertain Time,' CFO Says On Earnings Call</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Shares of oil and gas companies are trading lower amid a rise in US crude inventories.

The Bank of Montreal launched five new exchange-traded notes (ETNs) Thursday, expanding its range of leveraged and <a href="https://www.benzinga.com/topic/leveraged-etfs">inverse investment products</a>. 
The Canadian banking firm has also been quietly ramping up its Bitcoin ETF holdings, reflecting a growing interest in the cryptocurrency market.
For the uninitiated, ETNs are mostly <a href="https://www.benzinga.com/etfs">similar to ETFs</a>. The difference is they invest in debt like bonds. Also, they attract lesser taxes because they do not pay dividends.
Also Read: <a href="https://www.benzinga.com/etfs/new-etfs/25/02/43862680/roundhill-launches-weeklypay-etfs-with-5-funds-offering-enhanced-payouts">Roundhill Launches WeeklyPay ETFs With 5 Funds Offering Enhanced Payouts</a>
<h2 class="wp-block-heading">A Fresh Lineup Of Leveraged And Inverse ETNs</h2>
BMO's latest ETNs target the <a href="https://www.nasdaq.com/press-release/bmo-and-rex-shares-launch-us-big-banks-and-us-big-oil-leveraged-inverse-leveraged">energy </a>sector through the Solactive MicroSectors U.S. Big Oil Index, which consists of major oil players such as Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>). The bank has introduced two ETNs for investors with opposing market views:
MicroSectors U.S. Big Oil 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRGU#NYSE">NRGU</a>), which seeks to generate three times the daily return of the index, and MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRGD#NYSE">NRGD</a>), which provides the inverse, delivering negative three times the index's daily movement.
These products allow investors to make tactical bets on the energy market, especially as oil prices remain highly sensitive to geopolitical and economic changes.
BMO hasn&#8217;t left the financial sector behind, with new leveraged and inverse ETNs tied to the Solactive MicroSectors U.S. Big Banks Index. This index tracks heavyweights such as JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and Bank of America.
The MicroSectors U.S. Big Banks 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNKU#NYSE">BNKU</a>) provides three times the daily return of the index. On the other hand, the MicroSectors U.S. Big Banks -3X Inverse Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNKD#NYSE">BNKD</a>) moves in the opposite direction, offering negative three times the daily performance.
<h2 class="wp-block-heading">BMO's Growing Crypto Bet</h2>
BMO has also recently made a significant push into Bitcoin ETFs. According to a February <a href="https://www.binance.com/en/square/post/20289730836265">report </a>from Binance, which cited an SEC filing by BMO, the bank has upped its Bitcoin ETF holdings from $13 million to $150 million, a staggering 1053.85% increase in just one quarter.
Regulatory filings submitted to the U.S. SEC on January 13 revealed that BMO had allocated $139 million to BlackRock's iShares Bitcoin ETFs, with the remaining $11 million divided among ETFs from ARK 21Shares, Grayscale, and Fidelity.
The leveraged and inverse ETNs cater to active traders looking for higher exposure to high-momentum sectors, while the Bitcoin ETF investment signals institutional optimism in crypto's long-term potential.
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High-rolling investors have positioned themselves bearish on Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Occidental Petroleum. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $43,560, and 8 calls, totaling $391,748.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $55.0 for Occidental Petroleum over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $47.5 to $55.0 over the preceding 30 days.
<h3>Occidental Petroleum Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740152738_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$6.9</td>
<td>$6.8</td>
<td>$6.8</td>
<td>$52.50</td>
<td>$127.8K</td>
<td>38</td>
<td align="right">98</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$6.9</td>
<td>$6.8</td>
<td>$6.8</td>
<td>$52.50</td>
<td>$66.6K</td>
<td>38</td>
<td align="right">0</td>
</tr>
<tr>
<td>OXY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/20/26</td>
<td>$4.5</td>
<td>$4.4</td>
<td>$4.4</td>
<td>$50.00</td>
<td>$43.5K</td>
<td>111</td>
<td align="right">2</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.97</td>
<td>$1.96</td>
<td>$1.96</td>
<td>$55.00</td>
<td>$40.3K</td>
<td>6.7K</td>
<td align="right">54</td>
</tr>
<tr>
<td>OXY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/16/25</td>
<td>$3.8</td>
<td>$3.7</td>
<td>$3.75</td>
<td>$50.00</td>
<td>$37.5K</td>
<td>7.1K</td>
<td align="right">14</td>
</tr>
</tbody>
</table>

<h3>About Occidental Petroleum</h3>
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,327 thousand barrels of oil equivalent per day in 2024 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.
<h3>Where Is Occidental Petroleum Standing Right Now?</h3>
<ul>
<li>With a trading volume of 2,823,253, the price of OXY is down by -1.13%, reaching $51.5.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 74 days from now.</li>
</ul>
<h3>Expert Opinions on Occidental Petroleum</h3>
In the last month, 4 experts released ratings on this stock with an average target price of $56.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $52. 
&#x2A; Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Occidental Petroleum with a target price of $56. 
&#x2A; An analyst from Goldman Sachs downgraded its action to Sell with a price target of $45. 
&#x2A; Reflecting concerns, an analyst from Stephens &amp; Co. lowers its rating to Overweight with a new price target of $71.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Occidental Petroleum, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

This Is What Whales Are Betting On Occidental Petroleum

JPMorgan analysts shared their take on Devon Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) and Occidental Petroleum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) following their latest earnings reports, highlighting key financial moves and production outlooks. Here&#8217;s <a href="https://www.benzinga.com/25/02/43828144/devon-energy-shines-as-analysts-praise-efficiency-capex-cuts">what you know</a>.
JPMorgan on DVN: For Devon Energy, analysts noted that the company delivered one of the strongest earnings prints of the season, with a 3% oil production beat leading to a 6% increase in cash flow. The company's 2025 guidance was better than expected, with a more capital-efficient plan that increases oil output while cutting spending by 5%. According to the analysts, strong performances in the Eagle Ford and Rockies assets, along with the successful integration of the Grayson Mill acquisition, contributed to the earnings beat. Devon also raised its fixed dividend by 9% and repurchased $301 million in stock during the quarter, with plans to return up to 70% of its free cash flow to investors in 2025.
JPMorgan on OXY: Occidental Petroleum's stock surged 4.4% post-earnings despite a weaker-than-expected first-quarter 2025 outlook and $1.1 billion in special charges, including impairments and environmental reserves. JPMorgan analysts suggested the stock's strength was driven by a sizable fourth-quarter beat, accelerated debt reduction, and a 9% dividend increase. Occidental generated $1.35 billion in free cash flow in the quarter, using $500 million to reduce debt and achieving its $4.5 billion deleveraging target seven months ahead of schedule. The company also announced $1.2 billion in non-core asset sales, with plans to use the proceeds for 2025 debt maturities.
Price Action: Shares of Devon Energy were up 2.24% at $38.41, while Occidental Petroleum gained 2.34% to trade at $52.18 as of Tuesday afternoon.
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UBS analyst Josh Silverstein maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and raises the price target from $54 to $56.

Price Target

Analyst Ratings

UBS Maintains Neutral on Occidental Petroleum, Raises Price Target to $56

Wells Fargo analyst Roger Read maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Equal-Weight and lowers the price target from $53 to $52.

Wells Fargo Maintains Equal-Weight on Occidental Petroleum, Lowers Price Target to $52

Despite reporting a mixed fourth quarter, Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) reduced its near-term debt seven months ahead of schedule during the period. The company also set an ambitious target of further debt reduction during the first quarter of 2025.
What Happened: The president and CEO of Occidental Petroleum, Vicki Hollub highlighted that the company achieved its near-term debt repayment target of $4.5 billion, seven months early &#8220;through a combination of asset sales and organic cash flow.&#8221;
Senior VP and CFO, Sunil Mathew said, "We are continuing this momentum into 2025 and announced $1.2 billion in divestitures in the first quarter."
Looking ahead to 2025, CEO Hollub outlined a strategy centered on financial discipline, mirroring 2024&#8217;s focus. The primary objectives are "to continue our deleveraging progress from last year and deliver sustainable dividend growth."
See Also: <a href="https://www.benzinga.com/25/02/43839198/reduce-deficits-and-debt-full-stop-says-this-economist-as-trump-mulls-doge-dividend-by-giving-away-20-of-its-savi">&#8216;Reduce Deficits And Debt… Full Stop,&#8217; Says Craig Shapiro As Trump Mulls &#8216;DOGE Dividend&#8217; By Giving Away 20% Of Its Savings To Public</a>
Why It Matters: Occidental reported fourth-quarter earnings of $0.80 per share, exceeding analyst estimates of $0.70 and up from $0.74 year-over-year. Revenue, however, fell short at $6.83 billion versus an expected $7.05 billion and was down from $7.52 billion last year. Production surpassed guidance, and the company increased its quarterly dividend by 9% to $0.24 per share.
In 2024, OxyChem achieved record total company production, reaching 1.33 million barrels of oil equivalent (BOE) per day. This figure also represented the company&#8217;s highest annual U.S. oil production, and it surpassed the upper limit of their projected full-year output.
Talking about the guidance, CFO Mathew anticipated a lower first-half production, followed by a second-half ramp-up. OxyChem&#8217;s full-year pre-tax income is projected at $1 billion, reflecting a slight decrease.
Price Action: OxyChem rose 4.40% on Wednesday and advanced further by 0.39% during after-hours trading, contrasting with a slight 0.24% uptick in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the Nasdaq 100 index. OXY remains up 4.84% on a year-to-date basis and 23.39% over a year.
<a href="https://www.benzinga.com/quote/OXY/analyst-ratings">Benzinga tracks 22 analysts</a> with an average price target of $62.1 for the stock, reflecting a "sell" rating. Estimates range widely from $45 to $78. Recent ratings from Stephens &amp; Co., Goldman Sachs, and Truist Securities average $58, suggesting a potential 13.30% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/OXY/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="383" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20011956/OXY-anr-1024x383.png" alt="" class="wp-image-790266" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20011956/OXY-anr-1024x383.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20011956/OXY-anr-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20011956/OXY-anr-768x287.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/20011956/OXY-anr.png 1066w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Photo courtesy: Shutterstock

Equities

Warren Buffett's Favorite Energy Stock Occidental Petroleum Achieves Near-Term Debt Reduction Target 7 Months Early In Q4: Management Sets $1.2 Billion Target For Q1

Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) shares are moving higher on Wednesday as oil prices rise following a drone attack on a Russian pipeline, which could <a href="https://www.benzinga.com//node/43817326">weaken supply</a>.
The Details: The drone attack, which took place on Monday, targeted the Kropotkinskaya station located in Krasnodar, according to Reuters. The Kropotkinskaya station is the largest pumping station on the pipeline in Russia and is responsible for pumping about 1% of global crude oil supply.
The Caspian Pipeline Consortium oversees the pipeline and, as of Monday, has not identified those responsible for the attack. However, it confirmed that the Kropotkinskaya facility was shut down, and crude oil flow through the Tengiz-Novorossiysk pipeline system was being maintained at reduced rates, bypassing the pumping station.
Deputy chairman of Russia&#8217;s Security Council Dmitry Medvedev stated, &#8220;Ukrainian drones attacked a pumping station that provides oil transportation through the main oil pipeline of the Caspian Pipeline Consortium. A blow to an oil consortium could stop oil pumping, unbalance the market, increase oil price spikes and cause direct damage to American companies.&#8221;
Furthermore, Medvedev said that Ukraine's attack on a pipeline partially owned by U.S. companies was a blow against President Donald Trump, who has sought lower oil prices. He added that it remained to be seen how Trump would respond.
Occidental shares may be rising following the drone attack, as reduced supply could drive up prices, potentially boosting profits. The attack may also heighten concerns over geopolitical tensions, prompting investors to buy oil stocks as a hedge against future supply uncertainty.
What Else: Occidental reported earnings for the 2024 fiscal-year fourth-quarter after the market closed on Tuesday. The company reported adjusted earnings per share of 80 cents, beating analysts&#8217; estimate of 70 cents. In addition, it reported sales of $6.83 billion, missing analysts&#8217; estimate of $7.05 billion.
Additionally, Occidental announced it achieved its near-term debt repayment target of $4.5 billion in the fourth-quarter. In the 2025 first-quarter, it signed two agreements to divest upstream assets for a combined total of $1.2 billion.
Related Link: <a href="https://www.benzinga.com/25/02/43821108/garmin-posts-better-than-expected-results-joins-solaredge-technologies-compass-appian-and-other-big-stocks-moving-higher-on-wednesday">Garmin Posts Better-Than-Expected Results, Joins SolarEdge Technologies, Compass, Appian And Other Big Stocks Moving Higher On Wednesday</a>
OXY Price Action: At the time of writing, Occidental shares are trading 4.22% higher at $50.90, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: via Shutterstock

What's Going On With Occidental Petroleum Stock Wednesday?

Occidental Expects Permian Production To Grow By More Than 15% In 2025

U.S. stocks were lower, with the Dow Jones falling over 200 points on Wednesday.
Shares of Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) rose sharply during Wednesday's session after the company reported better-than-expected fourth-quarter financial results and FY25 outlook. It also recommended <a href="https://in.benzinga.com/25/02/43812509/garmin-q4-earnings-wearables-and-adventure-watches-drive-growth-raises-dividend-20-projects-68-billion-revenue-for-2025">20% dividend hike</a>.
Garmin reported fiscal fourth-quarter 2024 revenue growth of 23% year-on-year to $1.82 billion, beating the analyst consensus estimate of $1.70 billion. The GPS navigation and wearable technology company's proforma EPS of $2.41 beat the analyst consensus estimate of $2.03.
Garmin shares jumped 14.3% to $245.41 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Alpha Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) shares jumped 61.3% to $49.21.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) gained 26.4% to $21.40 after the company reported better-than-expected fourth-quarter sales results and issued first-quarter revenue guidance with its midpoint above estimates.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) surged 23.8% to $9.89 after the company reported better-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance above estimates.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) gained 22.6% to $71.75 after the company announced plans to introduce at-home lab testing through its platform. Also, Canaccord Genuity maintained a Buy rating on the stock and raised its price target from $38 to $68.</li>
<li>The Andersons, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANDE#NASDAQ">ANDE</a>) rose 21.1% to $49.38 after the company reported fourth-quarter earnings and revenue above estimates.</li>
<li>Appian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>) gained 20.8% to $38.69 after the company reported better-than-expected quarterly EPS and revenue.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) gained 15.5% to $64.47 on possible continued momentum from last week. Investors await an update from the company regarding its delayed filing.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) gained 14.4% to $33.46 after Scotiabank initiated coverage on the stock with a Sector Outperform rating and announced a $102 price target.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) rose 14.4% to $3.8350 after the company announced it received FDA authorization for an expanded access program offering alternative source of BCG for bladder cancer patients.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) rose 13.2% to $306.92 after the company reported fourth-quarter earnings and revenue above estimates.</li>
<li>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) gained 8.8% to $37.97 following upbeat quarterly earnings.</li>
<li>RB Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) rose 8.8% to $105.06 following better-than-expected fourth-quarter financial results.</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) gained 7.7% to $62.36 after the company announced the introduction of its Mplab AI coding assistant, which leverages the power of AI to assist software developers and engineers in writing and debugging code.</li>
<li>Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) gained 7.3% to $236.22 after the company reported better-than-expected quarterly EPS and revenues.</li>
<li>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) rose 5.8% to $51.70 following upbeat earnings.</li>
</ul>
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Garmin Posts Better-Than-Expected Results, Joins SolarEdge Technologies, Compass, Appian And Other Big Stocks Moving Higher On Wednesday

Shares of Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) climbed in trading on Wednesday, despite <a href="https://www.benzinga.com/news/earnings/25/02/43799173/occidental-petroleum-shares-slide-after-mixed-q4-results-eps-beat-revenues-missed">a revenue miss in the fourth quarter</a>.
Here are some key analyst takeaways.
<ul>
<li>Stephens <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6447940daaeafc000160521b/mike-scialla">analyst Mike Scialla</a> reiterated an Overweight rating and price target of $71.</li>
<li>Raymond James <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/580dc7a6846faa000106ae4f/mark-lear">analyst Mark Lear</a> maintained a Neutral rating on the stock.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Stephens: Occidental Petroleum reported fourth-quarter adjusted earnings and cash flows of 80 cents per share and $3.13 per share, respectively. It beat the consensus of 68 cents per share and $2.85 per share, Scialla said. Production grew by 4% sequentially and 19% year-on-year to 1,463 MBpoed (million barrels of oil equivalent per day), 1% above Street expectations, he added.
Occidental divested another $1.2 billion-worth of properties in the first quarter of 2025. The company also achieved its $4.5 billion near-term debt reduction target seven months early, the analyst explained. Management's first-quarter guidance for total and oil production were 4% and 5% below market estimates, mainly due to weather conditions and the divestitures in the quarter, he further stated.
Raymond James: Occidental's fourth-quarter results were mostly ahead of expectations. Lear credited "stronger volumes and Oxychem and midstream beats" for driving growth. The full-year guidance for capital expenditure came in at $7.5 billion, in-line with expectations, he added.
The "glaring negative" was the oil production guidance for the first quarter, the midpoint of which stands at 703 million barrels of oil per day, down around 4% sequentially, the analyst stated. The main driver of lower volumes guide was the divestitures closing by the end of the first quarter and "expected ethane rejection in the DJ decreasing production volumes by ~21 mboe/d," he further wrote.
Price Action: Shares of Occidental Petroleum had risen by 6.30% to $51.96 at the time of publication on Wednesday.
Read More: 
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<li><a href="https://www.benzinga.com/markets/equities/25/02/43786111/buffett-buys-more-occidental-petroleum-sticking-to-his-playbook">Buffett Buys More Occidental Petroleum—Sticking To His Playbook</a></li>
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Image: Shutterstock

Analyst Color

Earnings Beats

Reiteration

Occidental Petroleum Posts Q4 Earnings Beat, Here's A 'Glaring Negative'

Shares of several oil companies are trading higher following a drone attack on a Russian pipeline which could reduce supply.

Stephens &amp; Co. analyst Mike Scialla reiterates Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Overweight and maintains $71 price target.

Stephens & Co. Reiterates Overweight on Occidental Petroleum, Maintains $71 Price Target

Occidental Petroleum shares are trading lower after the company missed Q4 revenue estimates.

Major U.S. indices closed higher on Tuesday, with the Nasdaq gaining 0.07% to 20,041.26 and the S&amp;P 500 edging up 0.2% to 6,129.58. The Dow Jones Industrial Average inched up 0.02% to 44,556.34.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Palantir Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)
Palantir Technologies saw a rise of 4.58%, closing at $124.62. The stock hit an intraday high of $125 and a low of $118.43, with a 52-week range between $15.67 and $125. U.S. Rep. Marjorie Taylor Greene (R-Ga.) <a href="https://www.benzinga.com/25/02/43796040/marjorie-taylor-greene-discloses-new-stock-trades-palantir-purchase">disclosed purchasing Palantir shares</a>, sparking discussions about potential conflicts of interest due to her political connections.
Intel Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)
Intel Corporation shares surged 16.06% to close at $27.39, reaching a high of $27.55 and a low of $24.49. Its 52-week range is $18.51 to $46.63. The stock climbed after reports that Broadcom and TSMC are <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43793256/intel-shares-are-surging-today-whats-going-on">considering acquiring parts</a> of Intel&#8217;s operations, including chip design and manufacturing facilities.
Arista Networks, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)
Arista Networks rose 3.92%, closing at $111.06, with an intraday high of $112.12 and a low of $108.25. The stock&#8217;s 52-week range is $60.08 to $133.57. The increase came after the company reported <a href="https://www.benzinga.com/news/earnings/25/02/43797762/arista-networks-q4-earnings-revenue-beat-eps-beat-strong-guidance-and-more">fourth-quarter financial results</a>. Revenue came in at $1.93 billion beating analyst estimates while adjusted earnings per share of 65 cents also exceeded expectations. 
Occidental Petroleum Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)
Occidental Petroleum shares edged up 1.62% to $48.84, with a high of $49.14 and a low of $47.91. The stock&#8217;s 52-week range is $45.17 to $71.19. The company reported&nbsp;<a href="https://www.benzinga.com/25/02/43799173/occidental-petroleum-q4">mixed fourth-quarter results</a>, with earnings beating expectations but revenues falling short.
Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dipped 0.49%, closing at $354.11. The stock hit an intraday high of $359.10 and a low of $350.02, with a 52-week range of $138.8 to $488.54. A <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43774671/tesla-bull-advises-ev-giant-investors-to-limit-emotion-tied-to-the-product-i-love-starbucks-but-i-wouldnt-own-sbux-stock">fund manager advised</a> investors to remain analytical about Tesla&#8217;s stock, emphasizing the importance of discipline over emotional attachment to the brand.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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TSLA

Palantir, Intel, Arista, Occidental, And Tesla: Why Are These 5 Stocks On Investors' Radars Today

Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) reported its fourth-quarter results after Tuesday's closing bell. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/25/02/g43797653/occidental-announces-fourth-quarter-2024-results">figures from the quarter.&nbsp;</a>
The Details:&nbsp;Occidental Petroleum reported quarterly earnings of&nbsp;80 cents&nbsp;per share which beat the analyst consensus estimate of&nbsp;70&nbsp;cents and is an&nbsp;increase over earnings of&nbsp;74 cents&nbsp;per share from the same period last year. Quarterly revenue came in at $6.83 billion&nbsp;which missed the analyst consensus estimate of&nbsp;$7.05 billion&nbsp;and is a&nbsp;decrease from revenue of&nbsp;$7.52 billion&nbsp;from the same period last year.
Read Next: <a href="https://www.benzinga.com/news/global/25/02/43787369/us-russian-officials-begin-ukraine-peace-talks-defense-sector-stocks-rise">US, Russian Officials Begin Ukraine Peace Talks: Defense Sector Stocks Rise</a>
Total company production of 1,463 Mboed exceeded the mid-point of guidance by 13 Mboed. 
The company increased its quarterly dividend by 9% to 24 cents per share, payable April 15, 2025, to shareholders of record as of March 10, 2025.
Occidental Petroleum <a href="https://www.oxy.com/news/news-releases/occidental-announces-further-progress-on-debt-reduction/">also announced</a> the company achieved its near-term debt repayment target of $4.5 billion in the fourth quarter and signed two agreements in the first quarter of 2025 to divest upstream assets for a combined total of $1.2 billion.
&#8220;Our teams continued to demonstrate industry-leading performance during the fourth quarter of 2024, outperforming guidance across all three segments and delivering record U.S. production while improving our capital efficiency,&#8221; said CEO Vicki Hollub.
&#8220;Our operational excellence translated to another quarter of strong financial results, highlighted by our fourth quarter operating cash flow, enabling us to achieve our near-term debt repayment target of $4.5 billion. Additional key differentiators for Occidental are our 2024 all-in reserve replacement of 230% and organic reserves replacement of 112%, which are indicators of our long-term sustainability,&#8221; Hollub added.
OXY Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Occidental Petroleum shares are down 1.3% after hours at $48.24 Tuesday.  
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Image: Shutterstock

After-Hours Center

Occidental Petroleum Shares Slide After Mixed Q4 Results: EPS Beat, Revenues Miss

Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.70 by 14.29 percent. This is a 8.11 percent increase over earnings of $0.74 per share from the same period last year. The company reported quarterly sales of $6.837 billion which missed the analyst consensus estimate of $7.054 billion by 3.08 percent. This is a 9.19 percent decrease over sales of $7.529 billion the same period last year.

Earnings Misses

Occidental Petroleum Q4 2024 Adj. EPS $0.80 Beats $0.70 Estimate, Sales $6.837B Miss $7.054B Estimate

Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.70 by 14.29 percent. This is a 8.11 percent increase over earnings of $0.74 per share from the same period last year.

Occidental Petroleum Q4 2024 Adj. EPS $0.80 Beats $0.70 Estimate

<a href="https://www.oxy.com/news/news-releases/occidental-announces-further-progress-on-debt-reduction/" title="https://www.oxy.com/news/news-releases/occidental-announces-further-progress-on-debt-reduction/">https://www.oxy.com/news/news-releases/occidental-announces-further-progress-on-debt-reduction/</a>

Occidental Announces Further Progress On Debt Reduction

Press Releases

Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow

Occidental to Announce Third Quarter Results Tuesday, November 12, 2024; Hold Conference Call Wednesday, November 13, 2024

Dividends

Occidental Announces Dividend

Occidental Announces Third Quarter 2024 Results

Occidental to Announce Fourth Quarter Results Tuesday, February 18, 2025; Hold Conference Call Wednesday, February 19, 2025

Oil Prices Decline On Concerns Of U.S. Oversupply

LNG Exporter Venture Global Holds IPO In New York

CIBC introduces additional Canadian Depositary Receipts ("CDRs")

Occidental Announces Fourth Quarter 2024 Results

Occidental Announces Further Progress on Debt Reduction

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