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Occidental Petroleum Corporation (OXY)

NYSE - NYSE Delayed Price. Currency in USD
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65.73+0.04 (+0.06%)
At close: 04:00PM EDT
65.70 -0.03 (-0.05%)
After hours: 07:59PM EDT
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  • S
    Steven
    Am I the only one here feeling that Oxy is on its way to grinding higher to the $70-$72 range...where I think we will find another plateau?
  • E
    Eric
    OXY put forth 20M to lobby congress for a tax credit on carbon emissions. The inflation reduction just passed and it gives companies $85 per metric tonne compared to $50. Leader in carbon capture? You guessed it: OXY. Huge tax breaks coming plus good for the environment. Win-win. This is going to the moon or bought before it does.
  • I
    Ingo
    Whatever happens in the final hour, we shouldn't complain. It was a fantastic week with over 10% gain.
    Bullish
  • s
    suh
    1. Float is getting less day by day.
    2. Debt is getting lower every quarter.
    3. Anything over $40 oil. This company will keep pumping cash. This will either go towards debt reduction or buybacks and eventually fall towards dividends.
    4. Shorts better pick a different stock as they will have their pants taken off sooner than later.
  • M
    Mr Clean
    ✅Doesn’t matter where we close today, what matters is where we close after they announce we are investment grade
  • M
    Myaccount
    good news... Cramer said oil is coming down....so rest assured, it will go up!
  • G
    GW Cheny
    Looking for Form 4 after the close. Wondering if BRK purchased more this week?
    Bullish
  • J
    John
    People make sure you take a great look at this weeks trading volume!! The stock was up big this week with noooo volume. OXY is going to pop like a champagne cork!! Longs it will be awesome!! Shorts stopped being
    fooled! Oxy has only one clear direction and that's up, up and away!!
  • S
    Steven
    Some worry that CVX might not get approval to buy another publicly traded oil and gas company. Hence, Buffett taking Oxy private….and then CVX buying said private oil co from Buffett works for me. :-)
  • G
    GW Cheny
    From Motley Fool - 13th August

    Occidental Petroleum
    Buffett has poured more money into buying Occidental Petroleum (OXY 0.06%) shares than any other stock in recent months. Berkshire now owns 20.2% of the oil giant. Occidental ranks as the seventh-largest holding in Berkshire's portfolio.
    Scooping up more shares of Occidental has turned out to be a shrewd move. The stock has skyrocketed more than 120% year to date. Higher oil prices have served as a major tailwind for the company.
    Despite this huge gain, Occidental remains very cheap. Its shares trade at only 6.2 times expected earnings. That's well below the average forward P/E of 8.0 for the energy sector.
  • s
    slow_learner
    A little insight into gas demand number calculations by EIA. You have to dig deeper and I tried to do just that.

    Fortunately, I have a few friends who own multiple gas stations. From a simple point of view, they order gas from their supplier and sell to customers. They need to refill their tanks periodically, which could be every 4-5 days, weekly, or even every two weeks, depending on the size of their underground tanks and size of business. Their cost to refill is set the day they order from their supplier.

    Their margins are pretty slim, like 10-15 cents per gallons (depends on location though), contrary to President's accusation of price gouging. If wholesale gas prices start falling after they order, they are somewhat forced to reduce their retail selling prices. If wholesale prices fall more then 15-20 cents, believe it or not, they actually have to sell at loss, especially if other gas stations around them start reducing their prices.

    Since wholesale prices have started falling in the past 4-5 weeks, gas station operators are quite worried about getting stuck with high price inventory and having to sell them at loss. As a result, they are keeping their tanks to lower level and only order smaller quantities in order to play it safe. EIA only measures demand as quantities delivered from wholesale suppliers and not at the pump. This might be one of the key reasons why EIA reported gas demand is skewed to the downside.
  • J
    John R.
    Where did the shorts go? Did someone turn on the lights? It's like they all just scurried back under the carpet.
  • D
    Dry Heat
    At current SPR release rates, our Navy won't have enough oil to get out of San Diego harbor next year.
  • M
    Miki
    T minus 82 days for the end of the SPR oil release! Thank you for releasing the oil and jeopardizing our nation's security. Thank you, Brandon!
  • J
    James C
    Got in last week at $59 - maybe I should buy more with hurricane season coming.
  • P
    Phat
    70$ Monday
    Bullish
  • D
    Dry Heat
    Certainly glad the recent go-ahead for OXY drilling in CO was on private land! "The Sierra Club, Center for Biological Diversity and others said in an August 2020 lawsuit that BLM had violated the National Environmental Policy Act, which requires the government to take a hard look at the environmental impacts of its leasing decisions, when it approved the current 20-year plan." In addition, "The groups also said the government failed to adequately consider the impacts leasing would have on the survival and recovery of the threatened Gunnison sage-grouse."

    Well damn, the Texas turkey grouse's cousin is back!
  • j
    jim
    Oil rising because IEA is now boosting their demand forecast. So weird how drastically the story changes each week.
  • M
    Mr Clean
    🚨Goldman Sachs sees Gasoline above $5 and Brent at $130 by end of year🚨
  • J
    John
    Lets start. How many billions will OXY pay off the the debt sheet this quarter??
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