Energy
Occidental Petroleum Corporation (OXY)
Investment Thesis
Oil leverage with balance sheet improvement and Berkshire stake.
Economic Moat Analysis
Permian low-cost acreage and EOR.
Revenue & Earnings Trends
Steady compounding with resilient margins versus peers.
Intrinsic Value Estimate
Fair value: $62–$70 (DCF / owner earnings).
Key Risks
Commodity volatility and debt.
Management Evaluation
Rational, owner-oriented capital allocation.
Free Cash Flow Trends
Strong conversion supports reinvestment and shareholder returns.
Long-Term Outlook
Deleveraging if oil stays firm.