Occidental Petroleum Corp
OXY: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$15.00 | Kvspg | Dtmgpscx |
Occidental Petroleum Earnings: Well Performance Drives Productivity Gains
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.