Latest news with #OccidentalPetroleumCorp
Yahoo
16-05-2025
- Business
- Yahoo
Francis Chou's Strategic Moves: Sirius XM Holdings Inc. Takes Center Stage with 8. ...
Warning! GuruFocus has detected 7 Warning Signs with SAFE. Francis Chou (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Francis Chou (Trades, Portfolio), the fund manager of Chou America Mutual Funds, has been managing the Chou Funds in Canada since 1986. Chou's experience is an amazing success story of value investing. He came to Canada in 1976 at age 20 with $200 in his pocket. Without a college degree, he could only work on blue-collar jobs. Finally, he landed a job at Bell Canada as a telephone repairman. During that time, he was introduced to the books of Benjamin Graham. In 1981, together with six of his fellow telephone repairmen, Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management, where he met Prem Watsa (Trades, Portfolio), the future Fairfax CEO. He turned the investment club into the Chou Associates Fund in 1986, and the rest is history. When asked about what the most important things are for him in investing, Chou said: "Buy bargains. Get the returns slowly. Think independently. Don't be afraid of what other people are saying." The investment process followed in selecting equity investments for the Funds is a value-oriented approach that involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential, and management ability. Francis Chou (Trades, Portfolio) added a total of 2 stocks, among them: The most significant addition was Occidental Petroleum Corp (NYSE:OXY), with 68,000 shares, accounting for 1.85% of the portfolio and a total value of $3.36 million. The second largest addition to the portfolio was General Motors Co (NYSE:GM), consisting of 52,000 shares, representing approximately 1.34% of the portfolio, with a total value of $2.45 million. Francis Chou (Trades, Portfolio) also increased stakes in a total of 3 stocks, among them: The most notable increase was Sirius XM Holdings Inc (NASDAQ:SIRI), with an additional 689,872 shares, bringing the total to 702,462 shares. This adjustment represents a significant 5,479.52% increase in share count, an 8.55% impact on the current portfolio, with a total value of $15,837,010. The second largest increase was Stellantis NV (NYSE:STLA), with an additional 940,000 shares, bringing the total to 1,396,388. This adjustment represents a significant 205.97% increase in share count, with a total value of $15,653,510. Francis Chou (Trades, Portfolio) completely exited 1 of the holdings in the first quarter of 2025, as detailed below: Occidental Petroleum Corp (NYSE: Francis Chou (Trades, Portfolio) sold all 68,000 shares, resulting in a -1.28% impact on the portfolio. At the first quarter of 2025, Francis Chou (Trades, Portfolio)'s portfolio included 32 stocks, with top holdings including 37.76% in Berkshire Hathaway Inc (NYSE:BRK.A), 8.71% in Sirius XM Holdings Inc (NASDAQ:SIRI), 8.61% in Stellantis NV (NYSE:STLA), 7.08% in Alphabet Inc (NASDAQ:GOOG), and 6.28% in Synchrony Financial (NYSE:SYF). The holdings are mainly concentrated in 7 of all the 11 industries: Financial Services, Communication Services, Consumer Cyclical, Technology, Industrials, Energy, and Basic Materials. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Francis Chou's Strategic Moves: Sirius XM Holdings Inc. Takes Center Stage with 8. ...
Warning! GuruFocus has detected 7 Warning Signs with SAFE. Francis Chou (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Francis Chou (Trades, Portfolio), the fund manager of Chou America Mutual Funds, has been managing the Chou Funds in Canada since 1986. Chou's experience is an amazing success story of value investing. He came to Canada in 1976 at age 20 with $200 in his pocket. Without a college degree, he could only work on blue-collar jobs. Finally, he landed a job at Bell Canada as a telephone repairman. During that time, he was introduced to the books of Benjamin Graham. In 1981, together with six of his fellow telephone repairmen, Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management, where he met Prem Watsa (Trades, Portfolio), the future Fairfax CEO. He turned the investment club into the Chou Associates Fund in 1986, and the rest is history. When asked about what the most important things are for him in investing, Chou said: "Buy bargains. Get the returns slowly. Think independently. Don't be afraid of what other people are saying." The investment process followed in selecting equity investments for the Funds is a value-oriented approach that involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential, and management ability. Francis Chou (Trades, Portfolio) added a total of 2 stocks, among them: The most significant addition was Occidental Petroleum Corp (NYSE:OXY), with 68,000 shares, accounting for 1.85% of the portfolio and a total value of $3.36 million. The second largest addition to the portfolio was General Motors Co (NYSE:GM), consisting of 52,000 shares, representing approximately 1.34% of the portfolio, with a total value of $2.45 million. Francis Chou (Trades, Portfolio) also increased stakes in a total of 3 stocks, among them: The most notable increase was Sirius XM Holdings Inc (NASDAQ:SIRI), with an additional 689,872 shares, bringing the total to 702,462 shares. This adjustment represents a significant 5,479.52% increase in share count, an 8.55% impact on the current portfolio, with a total value of $15,837,010. The second largest increase was Stellantis NV (NYSE:STLA), with an additional 940,000 shares, bringing the total to 1,396,388. This adjustment represents a significant 205.97% increase in share count, with a total value of $15,653,510. Francis Chou (Trades, Portfolio) completely exited 1 of the holdings in the first quarter of 2025, as detailed below: Occidental Petroleum Corp (NYSE: Francis Chou (Trades, Portfolio) sold all 68,000 shares, resulting in a -1.28% impact on the portfolio. At the first quarter of 2025, Francis Chou (Trades, Portfolio)'s portfolio included 32 stocks, with top holdings including 37.76% in Berkshire Hathaway Inc (NYSE:BRK.A), 8.71% in Sirius XM Holdings Inc (NASDAQ:SIRI), 8.61% in Stellantis NV (NYSE:STLA), 7.08% in Alphabet Inc (NASDAQ:GOOG), and 6.28% in Synchrony Financial (NYSE:SYF). The holdings are mainly concentrated in 7 of all the 11 industries: Financial Services, Communication Services, Consumer Cyclical, Technology, Industrials, Energy, and Basic Materials. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.
Yahoo
13-05-2025
- Business
- Yahoo
Occidental Completes $1.3B Sale of DJ Basin, Permian Assets
This article was first published on Rigzone here Occidental Petroleum Corp. divested non-core proved and unproved royalty and mineral stakes in the DJ Basin for about $900 million and certain non-core Permian Basin assets for around $400 million in the first quarter (Q1), the hydrocarbons and chemicals producer said in its quarterly report. To keep debt manageable, Houston, Texas-based Occidental launched a $4.5 billion-$6 billion asset sale program when it announced its merger with CrownRock LP late 2023. Occidental completed its $12.4 billion purchase of CrownRock in Q3 2024. Occidental said in its annual report for 2024 it had achieved its near-term debt repayment goal of $4.5 billion in Q4 that year. In its latest quarterly statement, for the January-March 2025 period, it said it has made $2.3 billion of debt repayments so far this year. In its initial announcement of the DJ Basin and Permian divestments to undisclosed buyers on February 18, Occidental said, 'The transactions announced today continue to high-grade our portfolio and accelerate the progress toward achieving both our medium-term balance sheet deleveraging target and shareholder return pathway'. 'Occidental will continue to advance deleveraging via free cash flow and divestitures', it said in that announcement. At the end of Q1 2025 it owed $1.56 billion in current maturities from long-term debt. Occidental accrued total current liabilities of $9.62 billion. Meanwhile it had current assets of $9.72 billion including $2.61 billion in cash and cash equivalents. Take control of your THOUSANDS of Oil & Gas jobs on Search Now >> Occidental logged $860 million in adjusted net profit attributable to shareholders for Q1 2025, up from $792 million for the prior three-month period mainly thanks to higher domestic realized commodity prices. Partially offsetting that was a decrease in sales volumes from 1.46 million barrels of oil equivalent a day (MMboed) to 1.39 MMboed. Adjusted net income per share was $0.87 diluted, beating the Zacks Consensus Estimate of 73 cents. Oil and gas pre-tax income was $1.7 billion. Occidental produced 1.39 MMboed, which is at the midpoint of guidance. Occidental's chemicals segment contributed a $185 million pre-tax income. 'Compared to the fourth quarter of 2024, the decrease in first-quarter OxyChem income was primarily due to lower realized caustic soda and polyvinyl chloride prices along with higher ethylene and natural gas costs', Occidental said. Midstream and marketing suffered a $77 million pre-tax loss. 'Compared to the fourth quarter of 2024, the increase in first-quarter midstream and marketing results was primarily due to the timing of crude oil sales and higher sulfur prices at Al Hosn', it said. Occidental registered $2.15 billion in operating cash flow, which becomes $3 billion before working capital. It earlier declared a Q1 2025 dividend of $0.24 per share, up from $0.22 for Q4 2024. To contact the author, email More From The Leading Energy Platform: JP Morgan Says Oil Demand in Early May 'Indicates Tepid YoY Growth' Constructive USA-China Tone Lifts Market Sentiment APA to Slow Down Activity amid Price Volatility USA EIA Cuts Henry Hub Natural Gas Price Forecast for 2025 >> Find the latest oil and gas jobs on << Sign in to access your portfolio
Yahoo
30-04-2025
- Business
- Yahoo
Is Occidental Petroleum Corp (OXY) the Best Stock to Buy According to Billionaire Warren Buffett?
We recently published a list of . In this article, we are going to take a look at where Occidental Petroleum Corp (NYSE:OXY) stands against other best stocks to buy according to billionaire Warren Buffett. Known and admired for his success, wealth and philanthropy, Warren Buffett is still at the helm of his diversified holding company. From a struggling New England textile company in the 1960s, Buffett has grown Berkshire to a firm boasting a range of businesses from Geico insurance to BNSF Railway, an equity portfolio exceeding $267 billion, and a cash reserve of $334.20 billion at the end of 2024. Given his success on the investment horizon – a result of decades of strong returns – it doesn't come as a surprise that Buffett is often touted as one of the greatest investors of all time. In an attempt to mirror his trading activity, many investors search for what stocks is Warren Buffett buying today. READ ALSO: and . The Oracle of Omaha focuses on companies with strong economic moats and undervalued assets, applying his well-known investment strategy – long-term value investing. Buffett is not that fond of diversification, as he is investing in businesses instead of stocks, picking those he understands. While diversification as a risk mitigation technique is popular among those who are at the start of their investing journey, Buffett believes diversification could limit knowledge. He also doesn't consider money the greatest investment tool, given his statement that 'the best investment by far is anything that develops yourself, and it's not taxed at all.' Despite the strong market performance throughout much of 2024, Buffett appears to have taken a more cautious approach. With overinflated valuations due to high interest rates and deteriorating economic conditions in mind, he opted to sell off substantial stakes in companies whose valuations have become too high. Buffett is also not fond of President Donald Trump's tariffs on imports that sent shockwaves through global stock markets, even though his company's Class B shares dipped 1.4% only on April 3, outperforming the broader market. In the fourth quarter, Buffett's 13F portfolio was comprised of a total of 38 security holdings and was worth roughly $267 billion, slightly up from $266 billion in the third quarter. Given that Buffett doesn't like to diversify much, his top ten holdings account for nearly 90% of his 13F portfolio. To make the list of Warren Buffett's top portfolio holdings we reviewed Berkshire's fourth-quarter 2024 portfolio and ranked the list according to the hedge fund's stake value in each firm. If there was an overlap, we prioritized the holding that was worth more money. We have also assessed the number of shares acquired by Berkshire Hathaway and hedge fund sentiment toward each stock from Insider Monkey's database of hedge investor letters. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373% since May 2014, beating its benchmark by 218 percentage points (). That said, please see if there are overlaps between our compilation of the by The Oracle of Omaha wrapped up in November, and a new list of Warren Buffett's top portfolio holdings. Oil derricks in the background with a few workers in the foreground, emphasizing the company's oil and gas production activities. Portion of portfolio: 4.88% Value of holdings: $13,053,055,436 The Oracle of Omaha has been purchasing holdings in the Houston-based Occidental Petroleum Corp (NYSE:OXY), an energy company and one of the largest oil and gas producers in the United States in recent years, with the latest purchase bringing his stake in the company up to 28.2%. Buffett grew his stake in Occidental Petroleum by 4% sequentially to 264,178,414 shares, according to a regulatory SEC filing, making the stock his sixth biggest holding. The company generated $4.9 billion of free cash flow in 2024 with $1.4 billion generated in the fourth quarter only, paid about $800 million of common dividends and achieved its near-term debt repayment target of $4.5 billion seven months ahead of schedule. The oil and gas producer raised its quarterly dividend by 9.1% to $0.24 per share in February. For 2025, the company announced $1.2 billion of divestiture proceeds utilized for debt reduction, the company's president-CEO Vicki A. Hollub said in her fourth-quarter earnings call. That said, on March 21, Occidental wrapped up the sale of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the Denver-Julesburg (DJ) Basin in Colorado, to Elk Range Royalties for $905 million, according to Reuters. The assets are being developed by top operators such as Chevron and Civitas, who together are behind more than half of the wells being drilled in 2024. Hollub said in March that U.S. oil production will peak between 2027 and 2030 relying on the U.S. President Donald Trump's pledge to boost fossil fuel production and reduce prices for consumers. In the meantime, Occidental's $12 billion acquisition of CrownRock in 2024 has grown its domestic well inventory, adding 1,700 new well locations and 170,000 barrels of oil per day. The company has also boosted its carbon capture business via the acquisition of Carbon Engineering in 2023 and the development of the Stratos DAC plant in Texas, capturing 500,000 metric tons of CO2 annually. It plans 100 more DAC plants by 2035. However, Jim Cramer believes there might be better companies out there even though Occidental is one of Warren Buffett's top portfolio holdings. Appearing on CNBC's Squawk on the Street, Jim Cramer said, 'A lot of people always want Occidental because it's Buffett's company, it's not as well run as Coterra. It's not as well run as Chevron. Which has really lagged.' Year-to-date the company's stock lost 18.32% in its value, trading at $40.36 per share on April 24 at the time of writing. Overall, OXY ranks 6th on our list of best stocks to buy according to billionaire Warren Buffett. While we acknowledge the potential of OXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than OXY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
Khaleej Times
11-03-2025
- Business
- Khaleej Times
Occidental Petroleum sees US oil output peaking in next five years
US oil production will peak between 2027 and 2030, Occidental Petroleum Corp CEO Vicki Hollub said on Tuesday at the CERAWeek conference in Houston, Texas. Her outlook follows US President Donald Trump vowing to bolster fossil fuel production in the US and lower prices for consumers. ConocoPhillips CEO Ryan Lance gave a similar outlook in an earlier conference panel on Tuesday. He anticipates U.S. oil output will plateau by the end of this decade. US oil production is expected to average a record 13.59 million barrels per day in 2025 and rise to 13.73 million bpd next year, according to the US Energy Information Administration. Output growth has slowed in recent years, particularly as Wall Street has pushed operators to focus on shareholder returns and discipline instead of uninhibited drilling. Occidental on Tuesday said it is aiming to grow output from conventional wells, which make up about a third of its total production. The company has been injecting carbon dioxide into conventional wells in order to pump out more oil. Pilot tests in shale basins indicate Occidental could recover 20% of oil in shale reservoirs using CO2 injection, up from 10% currently, Hollub said.
