Occidental Petroleum to Accelerate Share Buybacks, Pay Down Preferred Shares

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Occidental Petroleum Intrinsic Value – Occidental Petroleum($NYSE:OXY) is likely to accelerate share buybacks in 2023, which would spur paydowns in its preferred shares, analysts at JPMorgan said in a research note on Wednesday. According to JPMorgan analyst John Royall, Occidental’s management is also focused on reducing the company’s gross debt to $15 billion as part of normalizing its balance sheet after acquiring Anadarko Petroleum in 2019. JPMorgan analysts last week traveled with Occidental management, including President and CEO Vicki Hollub, CFO Rob Peterson and investor relations personnel. During the trip, Occidental executives provided insights into the company’s strategy and priorities going forward. Based on these conversations, JPMorgan is confident that Occidental is well-positioned to deliver value to shareholders in the years ahead.

Share Price

The move will help Occidental Petroleum reduce its debt and improve its financial flexibility. It will also return value to shareholders. Occidental Petroleum is one of the world’s largest oil and gas companies. It has operations in the United States, the Middle East, and Latin America.

VI Analysis – Occidental Petroleum Intrinsic Value

Occidental Petroleum is an American oil and gas exploration and production company with operations in the United States, the Middle East, and Latin America. The company’s fundamentals reflect its long-term potential, and the fair value of its shares is around $45.6, according to the VI Line. However, OXY shares are currently trading at $67.2, meaning they are overvalued by 48%.

Summary

Occidental Petroleum is one of the largest oil and gas companies in the world. It has operations in the United States, Latin America, and the Middle East. The company is headquartered in Houston, Texas.