OXY's Q4, CrownRock Starts to OXY Rock

February 24, 2025

Well there’s a first. An E&P posts a decent quarter, and the stock actually went up. Imagine that. Blink and you missed it amidst the market sell-off on Friday, but for a brief few days, OXY actually witnessed some market love after reporting an impressive quarter.

Let’s walk through our thoughts.

$70.27/bbl. That was WTI’s average price for the quarter. $70. Natural gas? $1.26/MCF. Those two figures should make any investor in the energy space cringe. It’s a far cry from where it should be (at least in our opinion) and what would make energy equities revalue themselves. Yet as evidenced by OXY’s results, even at a moribund $70/$1.25, this thing really has some momentum.