Occidental Petroleum Q3 Earnings Tops On Improved production, Says BlackRock Will Invest $550M For Texas Project
Portfolio Pulse from Lekha Gupta
Occidental Petroleum Corp (OXY) reported Q3 FY23 revenue of $7.40 billion, beating consensus estimates. Production exceeded guidance, with Permian volumes at the high end of guidance. Pre-tax income was $2.0 billion, down from $3.3 billion a year ago. The company has completed around 60% of its $3.0 billion share repurchase program. BlackRock Inc (BLK) plans to invest $550 million in OXY's STRATOS project in Texas.
November 08, 2023 | 12:17 pm
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POSITIVE IMPACT
BlackRock plans to invest $550 million in Occidental Petroleum's STRATOS project in Texas. This could potentially generate returns for BlackRock's clients.
BlackRock's planned investment in Occidental Petroleum's STRATOS project could potentially generate returns for its clients, which is positive for the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Occidental Petroleum's Q3 earnings beat estimates, with strong production numbers. BlackRock's planned investment in the STRATOS project could provide additional capital for growth.
The strong Q3 earnings and exceeding production guidance indicate a positive operational performance. BlackRock's planned investment could provide additional capital for growth, which is positive for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100