Occidental Petroleum Set To Release Q3 Earnings Can It Justify Warren Buffetts Vote Of Confidence

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Occidental Petroleum Set To Release Q3 Earnings: Can It Justify Warren Buffett's Vote Of Confidence?
Occidental Petroleum Set To Release Q3 Earnings: Can It Justify Warren Buffett's Vote Of Confidence? from

Occidental Petroleum Set To Release Q3 Earnings: Can It Justify Warren Buffett's Vote Of Confidence?

Berkshire Hathaway's Warren Buffett has built a 20% stake in Occidental Petroleum over the past year.

He believes that Occidental Petroleum is an undervalued company with a bright future. However, Occidental Petroleum has been struggling in recent years due to low oil and gas prices. The company's Q3 earnings will be closely watched by investors to see if it can justify Warren Buffett's vote of confidence.

Analysts expect Occidental Petroleum to report a loss in Q3 but a narrower loss than in the previous quarter.

The consensus estimate is for a loss of $0.50 per share, compared to a loss of $1.94 per share in Q2. The company is expected to benefit from higher oil and gas prices in Q3 than it did in Q2.

However, Occidental Petroleum's earnings could still be hurt by higher costs and its debt burden.

The company has been investing heavily in new projects to increase its production, and these investments have weighed on its profitability. In addition, Occidental Petroleum has a large amount of debt, which could limit its ability to make further investments or pay dividends to shareholders.

Despite these challenges, investors are still bullish on Occidental Petroleum's long-term prospects.

The company has a strong asset base and a track record of success. In addition, the company is benefiting from the rising prices of oil and gas. If Occidental Petroleum can continue to execute on its plan, it could be a good investment for long-term investors.

Here are some key things to watch for in Occidental Petroleum's Q3 earnings report:

Investors should also pay attention to the company's guidance for the future. This will give them a better idea of the company's expectations for the rest of the year and beyond.