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Occidental Petroleum Stock Surges Thursday: What's Driving The Action? - Occidental Petroleum (NYSE:OXY)
Occidental's cost cuts, dividend growth, and $5.8 billion debt reduction supported a 35% year-to-date share increase amid rising crude prices and Middle East risks.
Summary by Benzinga
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Occidental Price Prediction: Wall Street Thinks OXY Goes to $69 This Year
Quick Read Occidental Petroleum (OXY) reduced Permian spending from $3.9B to $3.1B while maintaining production growth through child wells and enhanced oil recovery, achieving a 16% reduction in new well costs versus 2024 with $2B in cumulative annual savings since 2023. The company cut debt by $5.8B to $15.0B following the OxyChem sale to Berkshire Hathaway and doubled its quarterly dividend to $0.26 per share over four years. Wells Fargo and…
·New York, United States
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Leaning Left0Leaning Right0Center2Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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