OXY's Q3, Sandbags of Cash Falling from the Sky
November 18, 2024
As Q3 earnings season rolls on we now turn our attention to the last sector that typically reports, oil and gas companies. Specifically, one of the companies we’ve long-viewed as undervalued and worth considering, Occidental Petroleum (“OXY”).
The last time we reviewed OXY was the Q2 quarter, and our suspicions then was that the company was being “too conservative” in its assumptions for the CrownRock acquisition, and by too conservative we really mean “sandbag” (i.e., earnings management for the investment community).
A Few of My Favorite Things: OXY, SU, CVE post-Q2
As we roll through earnings season, a few of our holdings reported. To name a few, we had to privilege of sitting through the musak as investors waited for the quarterly conference calls to begin. Suncor, Cenovus, and Occidental Petroleum (“OXY”), just to name a few. Afterwards though, we were thinking. Might a Julie Andrews song sound better? Maybe one from the Sound of Music?