Occidental Petroleum Corp

OXY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$54.00	Kqwlb	Xbwlwmgd

Occidental Petroleum Earnings: Well Performance Drives Productivity Gains

Joshua Aguilar , Samuel Siampaus

Feb 15, 2024

Nothing in no-moat-rated Occidental Petroleum’s latest results materially alters our long-term view. Results were broadly in line with our expectations, though earnings came in a bit above based on a lower tax outlay than we initially expected. While we model puts and takes in Oxy’s cost structure and expected Permian production, we maintain our $56 fair value estimate.

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