Energy

Occidental Petroleum (NYSE:OXY) Q4 2022 revenue of $8.33 billion,up 97.6%

February 27, 2023 – Occidental Petroleum (NYSE:OXY) today announced net income attributable to common stockholders for the fourth quarter of 2022 of $1.7 billion, or $1.74 per diluted share, and adjusted income attributable to common stockholders of $1.6 billion, or $1.61 per diluted share. Occidental Petroleum (NYSE:OXY) reported late Monday Q4 adjusted earnings of $1.61 per diluted share, up from $1.48 a year earlier. Analysts polled by Capital IQ expected $1.83. Revenue for the quarter was $8.33 billion, up from $3.35 billion a year earlier. Analysts surveyed by Capital IQ expected $8.21 billion. Worldwide year-end proved reserves of 3.8 billion BOE, with reserves replacement of 172% and finding and development costs of $6.60 per BOE。 Completed $3.0 billion share repurchase program with $562 million of repurchases in the fourth quarter, bringing total year repurchases to 47.7 million shares。 Announced enhanced shareholder return framework including a new $3.0 billion share repurchase

Occidental Petroleum (NYSE:OXY) Q4 2022 revenue of $8.33 billion,up 97.6% Read Post »

Truist: Raised Chevron (NYSE:CVX) price target to $179 Maintain hold rating

Truist analyst Neal Dingmann raised its price target on Chevron (NYSE:CVX) to $179 from $169, but maintained its hold rating on the stock. The analyst told investors in a research note that the company continues to make headlines with its buybacks, disclosing a $75 billion buyback authorization last week, but the announcement was more of a “catch-up” move that brought Chevron’s shareholder return program more in line with the larger independent exploration and production companies. He added that it became “a little cautious” about Chevron’s overall upstream operations plans given its hints that production growth was declining in the Permian.

Truist: Raised Chevron (NYSE:CVX) price target to $179 Maintain hold rating Read Post »

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