Occidental Petroleum Primed for Action Monday: Berkshire Deal, Oil Trends & Analyst Outlook Unpacked
Occidental (OXY) closed Oct. 31 at $41.20, up 1.2%, with after-hours trading near $41.10 and pre-market quotes flat. The company agreed to sell its OxyChem unit to Berkshire Hathaway for $9.7 billion, planning to use $6.5 billion to reduce debt. Q3 earnings are due Nov. 10, with consensus EPS at $0.51, down nearly 49% year-over-year. Analyst price targets average around $50.