40 stories mentioning OXY
Every FINWIRES story that references OXY, newest first.
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $57.58, Change: $+0.12, Percent Change: +0.21%
US equity futures were trending higher pre-bell Wednesday as the S&P 500 and the Nasdaq reached new all-time highs amid continued optimism for an end to the Middle East conflict.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.8% higher.The S&P 500 added 0.6% and the Nasdaq rose 1.2% to fresh intraday and closing highs, driven by an upswing in the technology sector.President Donald Trump said in a post on Truth Social that talks with Iran were "proceeding nicely." However, Iran threatened to respond to ceasefire violations after the US military carried out what it called "self-defense strikes" on Iranian missile launch sites and vessels around the Strait of Hormuz. Negotiations to end the war continue.Traders noted the latest round of earnings, with PDD (PDD) posting lower Q1 non-GAAP earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.6% at $92.25 per barrel and US West Texas Intermediate crude 6% lower at $88.24 per barrel.The Richmond Fed manufacturing index for May is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 1.3% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Micron Technology (MU) stock was up 7.4% as the company's market capitalization reached $1 trillion for the first time. Fellow tech firms Marvell Technology (MRVL), Seagate Technology (STX), and Western Digital (WDC) all saw their shares rise as part of a broader tech rally. Marvell stock was up 6.1%, Seagate shares were higher by 5.4%, and Western Digital stock was up 5.5%.On the losing side, ExxonMobil (XOM) shares were down 2.1% after a Reuters report that Occidental Petroleum (OXY) was acquiring a 10% stake in the company's deepwater exploration block offshore Trinidad and Tobago. TotalEnergies (TTE) stock was 3.3% lower after a Bloomberg News report that the company is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country. PDD shares were down 8.8% after the company reported its Q1 financial results.
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block offshore Trinidad and Tobago, according to a Reuters report on Tuesday that cites two sources familiar with the matterThe move is expected to give the US shale producer exposure to one of the Caribbean's most closely watched oil prospects.The offshore block, known as UD(1), lies in waters between 2,000 and 3,000 meters deep and was awarded to Exxon in August 2025.Exxon is currently conducting seismic surveys in the block, with data acquisition expected to conclude by the end of July, John Ardill, the company's vice president for global exploration, said earlier this month at the Offshore Technology Conference in Houston.Interpretation of the seismic data could be completed by the end of 2026, Ardill said.The Trinidad acreage borders Guyana's prolific Stabroek Block, where Exxon and its partners have made more than 30 discoveries that transformed the South American nation into one of the world's fastest-growing oil producers.Geological similarities between the two areas have fueled industry expectations that Trinidad's deepwater acreage may hold significant untapped oil and gas reserves.Trinidad and Tobago has been seeking new upstream investment as production from its mature oil and gas fields declines, threatening feedstock supplies for the country's liquefied natural gas sector.Last week, Exxon Trinidad country manager Paul Riley, business development manager Gboyega Ayeni and Occidental Vice President for International Exploration Pedro Romero met with Prime Minister Kamla Persad-Bissessar and Energy Minister Roodal Moonilal, according to a statement from Trinidad and Tobago's energy ministry.Occidental Petroleum, Exxon Mobil and Trinidad and Tobago's energy ministry did not immediately respond to requests for comment from.Exxon is expected to decide whether to drill an exploration well after reviewing the seismic data, a move that could provide the first indication of the block's commercial viability, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.9%, and Exxon fell 3.1%.BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 3.9%.Oklo (OKLO) shares jumped 4.5% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.1% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.3%.
Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.8%, and Exxon fell 3.2%.
Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported Tuesday, citing two people familiar with the matter.Exxon was the sole owner of the offshore block, which lies in water depths of 2,000 to 3,000 meters, the report said.Occidental and Exxon didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $58.17, Change: $-0.64, Percent Change: -1.09%
Occidental to Acquire 10% Stake in Exxon Deepwater Block Offshore Trinidad, Reuters Reports
US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 3% at $96.22 per barrel and US West Texas Intermediate crude 3.9% lower at $92.84 per barrel.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from negative 0.15 in March, compared with expectations for a smaller gain to negative 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.5% and Germany's DAX index was 0.4% lower in Europe's early afternoon session.In equities, Eli Lilly (LLY) shares were up 1.2% after the company said its experimental gene-editing therapy, VERVE-102, reduced LDL cholesterol and PCSK9 protein levels in a phase 1 study involving adults with heterozygous familial hypercholesterolemia or premature coronary artery disease. BHP Group (BHP) stock was 1.4% higher after a Guardian report that the company scrapped plans for an iron ore processing facility near its Jimblebar mine in Western Australia that was expected to improve ore quality and lower emissions.On the losing side, energy majors ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) saw their shares decline after oil prices fell below $100 for the first time in weeks. ExxonMobil shares were down 1.1%, Chevron stock was 1.2% lower, and Occidental Petroleum shares also fell 1.2%.
Occidental Petroleum (OXY) has an average rating of Hold and mean price target of $65.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.29, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.29, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
The Standard & Poor's 500 index edged up 0.1% this week, its seventh consecutive weekly gain, as a strong advance in energy stocks helped outweigh declines in other sectors.The S&P 500 ended the week at 7,408.50, up slightly on the week but down from the new closing high it reached Thursday at 7,501.24. The market benchmark also hit a new intraday high on Thursday at 7,517.12.The seven-week win streak is the index's longest since a nine-week run that ended in December 2023. The S&P 500 is now up 2.8% for the month and has climbed 8.2% in 2026.The week's advance was driven by gains in only four of the S&P 500's 11 sectors, led by energy amid surging oil prices on the back of renewed Middle East worries. Consumer staples, technology and health care also rose this week.Declines across the remaining seven sectors came amid inflation concerns.US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz, data released this week showed. Another report showed US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures.The energy sector jumped 6.8%, followed by gains of at least 1% each in consumer staples, technology and health care.Occidental Petroleum (OXY) and Targa Resources (TRGP) had the largest percentage gains in the energy sector for the week, rising 12% and 9.6%, respectively.The climb in consumer staples was led by shares of tobacco companies Philip Morris International (PM) and Altria Group (MO), which added 11% and 7.3%, respectively.The technology sector's gain came amid enthusiasm for artificial intelligence as Cisco Systems (CSCO) reported higher-than-expected quarterly results, boosted by strong demand for its AI infrastructure. Cisco's shares jumped 22% as the company reported fiscal Q3 earnings and sales above market expectations and raised its full-year guidance.On the downside, consumer discretionary fell 3.1%, followed by a 2.6% drop in real estate, a 2.3% loss in materials, and a 2.1% decline in utilities. Industrials fell 1.1% while communication services and financials also edged lower.Norwegian Cruise Line Holdings (NCLH) was among the hardest-hit stocks in consumer discretionary. The cruise operator's shares fell 9.1% as TD Cowen cut its price target on the stock to $22 each from $27. The firm kept its investment rating on the shares at buy.Next week, a number of retailers will report quarterly earnings, including Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW), TJX (TJX), and BJ's Wholesale Club (BJ). Other companies on the week's earnings calendar include NVIDIA (NVDA), Analog Devices (ADI), Intuit (INTU) and Deere (DE).Economic data will include April pending home sales, housing starts and building permits, as well as a final reading on May consumer sentiment.
US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $156.00, Change: $+4.25, Percent Change: +2.80%
US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target of $56, up $14, reflects relative valuation and our DCF models. We apply a 6x multiple of EV to est. '27 EBITDA, above OXY's historical forward average, yielding a value of $49/share. A stronger multiple is reasonable given recent balance sheet improvement. Our DCF model, using medium-term FCF growth of 4%, terminal growth of 2.0%, and a WACC of 6.7%, yields intrinsic value of $63 per share. We lift our 2026 EPS estimate by $3.48 to $4.88, and 2027's by $1.23 to $2.97. OXY's net debt to capital ratio now stands at 25%, in line with E&P peers, and finally ending seven years of elevated debt ratios. We think OXY still has good growth potential in the Permian Basin on the liquids side of the ledger, but its natural gas business still faces headwinds from congestion in takeaway capacity. CEO Vicki Hollub is retiring on June 1, but current COO (a long-time OXY veteran) is stepping in, which we see as a plus given his long tenure and experience in the Permian.
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $53.53, Change: $-1.59, Percent Change: -2.88%
Occidental Petroleum (OXY) has an average rating of hold and mean price target of $65.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Atomera (ATOM) shares were 37% lower in Wednesday premarket activity, shaving gains from the previous session.Primoris Services (PRIM) stock was down 30% after the company posted overnight lower Q1 adjusted net income and revenue that also missed analysts' estimates in addition to issuing lower-than-expected 2026 non-GAAP EPS outlook.NICE (NICE) shares were down 13% after the company reported lower Q1 adjusted EPS in addition to setting Q2 and 2026 guidance that trailed analysts' forecasts.Occidental Petroleum (OXY) stock was 7.8% lower, a day after the company posted lower Q1 revenue.
Occidental Petroleum (OXY) lowered its full-year 2026 production forecast on Tuesday, citing the significant impact of the Iran war on its international operations.The company now expects total production to range between 1.41 million and 1.46 million barrels of oil equivalent per day, a slight reduction from its previous guidance of 1.42-1.48 mmboe/d.International output specifically was revised downward to 218,000 to 228,000 boe/d, as regional hostilities continue to obstruct key energy infrastructure.The guidance cut follows a prolonged suspension at the Shah gas field in the UAE, where Occidental holds a 40% interest.Operations at the facility, one of the world's largest sour gas fields, have remained offline since an Iranian drone strike on March 16.Despite these geopolitical headwinds, Occidental reported that its total first-quarter production of 1,426 Mboed actually exceeded the high end of its quarterly guidance, bolstered by strong performance in the Permian Basin, the Rockies, and the Gulf of Mexico.Financial results for the first quarter reflected a volatile energy market. Occidental's oil and gas pre-tax income rose to $1.0 billion, up from $0.7 billion in the fourth quarter of 2025.This growth was driven by an 18% quarterly increase in average worldwide realized crude oil prices, the company said.However, these gains were partially offset by lower domestic gas prices, which fell 10% to $1.01 per Mcf.Looking ahead, the company's ability to hit its revised targets remains tied to the stability of its Middle Eastern assets.While US shale production remains a core strength, continued closure of the Shah field and broader regional supply losses have forced the producer to adopt a more conservative outlook for the remainder of 2026.
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