Occidental Petroleum Corp
OXY: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| x& | LOCK|LS | LOCK|#Q |
Occidental Petroleum Earnings: Efficient Production Drives Fair Value Estimate Increase of 2%
Oxy's third-quarter net production increased 5% sequentially to 1,465 mboe/d. Cash operating costs decreased 9% sequentially to $14.28 per boe, while oil and gas capex decreased 14% sequentially to $1.3 billion. It used $1.3 billion of cash to pay down debt, and $400 million to pay out dividends.
