OXY

Occidental Petroleum Corp.

Energy


Presented:04/27/2020
Price:$14.15
Cap:$12.74B
Current Price:$51.56
Cap:$46.69B

Presented

Date04/27/2020
Price$14.15
Market Cap$12.74B
Ent Value$83.14B
P/E RatioN/A
Book Value$27.37
Div Yield22.26%
Shares O/S900.02M
Ave Daily Vol37,024,703
Short Int8.91%

Current

Price$51.56
Market Cap$46.69B
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, natural gas liquids, natural gas, carbon dioxide, and power. The company was founded in 1920 and is headquartered in Houston, TX.

Publicly traded companies mentioned herein: Berkshire Hathaway Inc (BRK/B), Occidental Petroleum Corp (OXY), Total SA (FP FP)

Highlights

The presenter is short shares of Occidental Petroleum Corp (OXY), which is currently facing a major liquidity issue. The company has $13.3B in maturities potentially coming due through 2023. In addition, the 2019 acquisition of Anadarko left OXY highly levered (~7x on the presenter’s 2021 EBITDA estimate) entering a recession, and he believes it is unlikely that OXY will be able to meet these upcoming obligations. 

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Idea Discussion

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