2 Key Takeaways Post-Occidental Petroleum's Q2 Report

August 6, 2023

Occidental Petroleum (“OXY”) reported Q2 earnings this past week and we’ve had a chance to sit and take a look. As expected, the company generated $1B of free cash flow in the quarter, and spent it largely on paying a dividend, repurchasing common shares, and redeeming the preferred shares. While the activities weren’t surprising what was slightly intriguing, was the amount of excess distributions OXY made.