Occidental Petroleum Corporation (OXY)

CHK had negative and tight cash flow even when the oil price was high. They were capitalizing all of their expenditures as asset, boosting their asset value while having enhanced income statements figure to borrow more to sustain its operation and expand their acquisitions. They were using accounting tricks and eventually went BK. If you are comparing CHK to OXY, you are wrong. OXY had one of the best cash flow reports in Q2 among major oil companies. OXY will have much better cash flow in 2021 and appreciated asset value with the expected increased oil price will improve asset to debt ratio or some of the "non-core assets" will be sold to manage its debt significantly. I am just speechless this spammers mentioning CHK on OXY, as they are clueless.

The acquisition in the sale oil industry just started. Which shale oil company/s will be acquired by OXY management? The valuations of many shale oil companies are very low today.

More info about the recent acquisition:
https://investors.devonenergy.com/investors/press-releases/press-release-details/2020/Devon-Energy-and-WPX-Energy-to-Combine-in-Merger-of-Equals-Creating-a-Leading-Energy-Company-Focused-on-Generating-Free-Cash-Flow-and-Return-of-Capital-to-Shareholders/default.aspx

My 2 cents: All oil stocks are being discriminated against. It's across the board. Bashing OXY is no different than bashing any other oil stock (APA, MRO, XOM, etc.) Just look at the XLE. It's not as though all these companies are bad companies. It's the current sentiment, and that sentiment is negative toward oil. If you're willing to take some risk and be patient, buy when things seem the most grim and stock prices are low, and you will be rewarded in time. EV-mania is hot right now, but reality will hit as soon as people resume driving en masse again. The demand for oil will return and investors will be reminded that the vast majority of cars still require gasoline.

OXY - $10.00 a share for OXY? lol... Thanks for the shares. See you at $15.00 a share in early October 2020.. A $40.00 stock trading at $10.00, only in today's stock market... This company is not a one trick pony... I have been buying this under 10.20 the last hour.. I bought under 10.00 the other day and it ran over $12.00 in a day.. OXY is a long term hold for some and OXY is a I am getting a 70% to 150% gain for those who can hold even for 3 to 6 months... Covid-19 vaccines and this is going to skyrocket just like everything else but you look at how high this can go for what to invest in now. Not all stocks are SPI's but a lot of stocks are the real deal. I am buying bargains like OXY, HPE, CCL, AAL and so many more stocks right now.

EIA report summary: Oil imports increased by 1.1M for the week (160kx7 = 1.1M). Oil inventories decreased by 1.6M, which is only 13% above five year average. Excess inventories are certainly coming down.

Gasoline inventories down 4M, and is only 1% above average. I am thinking we will start seeing gasoline inventories below historic average in just few short weeks.

Distillates down 3.4M, which is 21% above historic average.

Total inventories down by 7.5M.

Gasoline demand down 9%, which is better than 10% down in previous weeks.

Inventories are down 7.5M even with demand down 9-10%. With demand recovering, though slowly, gap can continue to to increase. Surely a bullish report in my opinion.

I feel the oil move higher was only because of the Hurricanes , OPEC+ did what I was expecting with SA talking about the old cut levels and not much else . There is another little depression in the gulf which may keep more supply off the market for a short time . Anyone can guess at the oil price and have the same chance on being right ( negative oil this year no one saw ) . So my guess is for the rest of the year between mid30s and low 40s with more to the lower side . Oil never got to the earlier higher price in September of 43+ so I would think it is a failed attempt to move higher . But things can change to drive it higher or lower , no one knows for sure . ( OXY's price between 9-12 for the near future ( next couple of months ) , 4th quarter will be the real driver with earnings and election. Will see a draw the next couple of weeks which may be a short term help .