Advertisement

U.S. markets open in 6 hours 57 minutes

S&P Futures
4,291.75
-6.50(-0.15%)
Dow Futures
33,853.00
-20.00(-0.06%)
Nasdaq Futures
13,659.75
-21.50(-0.16%)
Russell 2000 Futures
2,022.00
-1.80(-0.09%)
Crude Oil
88.76
-0.65(-0.73%)
Gold
1,795.10
-3.00(-0.17%)

Advertisement

Occidental Petroleum Corporation (OXY)

NYSE - NYSE Delayed Price. Currency in USD

Add to watchlist

Visitors trend2W10W9M

64.34

-1.39

(-2.11%)

At close: 04:00PM EDT

64.10

-0.24

(-0.37%)

After hours:

07:59PM EDT

Advertisement

Yahoo Finance will soon be upgrading our Conversations message board platform to provide a better experience for our users. Only comments published since April 21, 2021 will be visible on Yahoo Finance after the upgrade. If you wish to download and save any of your older comments, please submit a request via the Privacy Dashboard by no later than Aug. 15, 2022.

M
OXY is doing much better than expected considering that crude oil is down big today. Just imagine where we would be if crude oil ever got back to $120.
Bullish
b
Buffy’s SEC 13F report is exactly as expected — 158,549,729 as of 6/30
- As of 8/08 current YTD is 188,366,460
- With warrants 272,225,309 total

Icahn increased his warrants in Q2 by 210,015 & is holding 15,272,431 total. Icahn doesn’t need to file with SEC even if he converts to common cuz it’s only 1.6% (5% requires filings).
G
A good day to add
b
OXY has 2 programs for buybacks….the publicly announced $3.0 billion buyback & an internal buyback from the trustee of their defined contribution savings plan….18 million was bought per the $3.0 billion plan and another 1.2 million bought on the savings plan….19.2 million since 8/01….
s
1. The WHALE is not buying this at $59 to make $10-15. I m seeing them value this at .50 cents on a dollar as it’s rule of thumb. With this I m valuing from its metrics at $110.
2. Keep in mind if anything under $60 is being eaten up then this company is definitely going to be worth more than $120 in the future.
3. Oh and don’t forget the $3 pre covid dividends kicking 🦵 in once debt is at bay.
b
As reported earlier Vanguard sold 21 million while Buffy bought 22 mil in Q2.

Fidelity was the other big mover buying 16 mil moving into OXY top ten. Other buyers were Jane Street, GS and MS & UBS….
J
There are at least 7 gas stations I pass by from my home to work, and 2-3 of them are out of gas frequently on a daily basis. Last week, I saw two gas stations facing cross the street had near $10 cents spread. Slow learner explained the gas outage very well from the story he shared from his friend, but I have not seen this volatility in the consumer end market. I am sure the gas station owners are having the nightmare of the volatility they have to face through from their wholesalers but this volatility could case undesirable gas demand in the near future and could actually witness the line-up like we had in 70s... I am born in 80s so never experienced the line up but would be interesting to see this happen. Perhaps some of the older commentators have seen this. Would be nice to hear what they experienced in 70s before they started lining up in the consumer market.
D
Between June 9 and today:

=> WTI has dropped from $121.51 to $88.77, or -27%
=> OXY has dropped from $65.18 to $64.23, or -1.5%

So, OXY is definitely holding strong despite a heavy drop in WTI.
Bullish
M
🛢Interesting data here “ Over the past 12 weeks, the US Strategic Petroleum Reserves (SPR) have shed only 5 million barrels of sweet crude, but nearly 60 million barrels of sour crude.
US shale, which typically accounts for 2/3rds of US production, is sweet.
Russian crude is mostly sour”
J
FYI, a lot of institutional investors adjust their holdings based on the % of their entire portfolio. Knowing that the oil price increased significantly in Q1, it is normal for them to rebalance their portfolio, meaning they have to reduce their oil holdings. There are many other reasons they buy or sell but the reduction could be normal course of their discipline.
K
Driving up the 101 freeway yesterday (Sunday) tons of cars traffic jams all the way up to Ventura. 50 miles of traffic, now it is summer, and the weekend and people are out. But I gotta tell you, there is no demand destruction in California right now!!! 5TH LARGEST ECONOMY IN THE WORLD. Or so they say.......
J
Buffet and Oxy are scooping up this shares that are being traded!! Everyone knows that Oil is going to jump in the coming weeks!! The US government can only manipulate the Oil market only for so long! By dumping oil into the market and having EIA reports that are totally under representing the actual consumption in the US and it will cost everyone dearly very soon. All the will do is say that the are sorry, there was an error in the system! LOL!! We are going to be rich!!!
D
"The company expects "oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts," Aramco chief executive Amin Nasser said in the earnings report." - Aramco
C
***** SPR draining.....pipeline closures, production stalled/cancelled-------the demand/supply #s across the world have been so jacked around------ nobody knows the clear picture with oil pricing, especially with the Russian war underway.....
*****deepsub
C
***** In the GOM, Keithly Canyon, Murphy Oil is adding WI % to OXY oilfields and will close the deal this qtr......for 77 million $$ to garner an additional 11% WI.......the wells will be spudded this qtr, and planned tie-back to working platform already in operation. Lots of crude & NG discoveries in the prolific Mississippi Canyon..........especially in Miocene-age sands........which I am suspecting will also pay-off with more appraisal wells in the basins off Columbia........
*****deepsub
S
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?
b
The SEC 13F filings for all institutional holders is due 45 days after Q closing…today 8/15 is the due date….several have not yet reported including BRK.

But fintel reports a few of the top 10 holders did in fact sell in Q2….Dodge & Cox, Blackrock & Geode Capital sold 10 million shares combined in total.

The interesting big mover was Vanguard — it sold 21.3 million shares — nearly the same as what Buffy bought 22.2 million. Most likely via block trades via one of the 32 ATS (dark pool) venues….
M
https://oilprice.com/Geopolitics/International/Nuclear-Deal-Increasingly-Unlikely-As-Iran-Strengthens-Ties-With-Russia.html
s
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.
b
Strong volume 30 minutes out of the gate…..Vicki is a buying….(remember she paid 67.72 in May)….