Occidental Petroleum Corporation

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SKU: OXY Category:

Description

This is our first report on oil major, Occidental Petroleum. The company has consistently delivered a strong financial and operational performance over the past few quarters resulting from the operational improvements and high margin of safety created by the management during the time of low crude oil prices. Occidental Petroleum has reported a high degree of free cash flow for the fifth quarter in a row. More than $3.6 billion in debt has been repaid as a portion of near-term targets. Record earnings have been delivered by OxyChem this quarter as the business has gained benefit from strong pricing in PVC, chlorine, and caustic markets. The oil giant has signed various deals this year that has positioned it to capitalize on the huge opportunity it views for carbon storage and capture. The management is also planning to work hard on its water-recycling partnership with the development of additional locations and similar systems this year. In Algeria, the company completed its first development quite well. Overall, we are neutral on Occidental Petroleum and initiate coverage with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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