Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Occidental Petroleum Corporation exhibited strong execution and financial health in its Second Quarter 2024 earnings, marking numerous operational and strategic accomplishments that further consolidate its market position.</li><li>The company reported its highest quarterly production in four years, both for the total company and U.S. onshore operations, significantly surpassing production guidance with a generation of $1.3 billion in free cash flow before working capital adjustments.</li><li>This performance was mainly driven by remarkable execution across business segments, particularly in the Permian region, including new well performances and production uptime, as well as a robust showing in the Gulf of Mexico.</li></ul>

Occidental Petroleum Corporation exhibited strong execution and financial health in its Second Quarter 2024 earnings, marking numerous operational and strategic accomplishments that further consolidate its market position.The company reported its highest quarterly production in four years, both for the total company and U.S. onshore operations, significantly surpassing production guidance with a generation of $1.3 billion in free cash flow before working capital adjustments.This performance was mainly driven by remarkable execution across business segments, particularly in the Permian region, including new well performances and production uptime, as well as a robust showing in the Gulf of Mexico.

Occidental Petroleum Corporation: Will The CrownRock Acquisition Be A Game Changer? - Major Drivers

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Occidental’s Q2 revenue grew 1.7% YoY but missed estimates by 1.7%. Net profit surged by 34.9% YoY and beat estimates by 32.5%.</li>
<li>Total production rose by 3.3% YoY led by robust growth in the Permian and Gulf of Mexico. Production touched its highest in four years.</li>
<li>Average crude oil realisations rose 8.6% YoY, and natural gas increased by 11.3%, while domestic gas realisations fell sharply by 60.3% YoY.</li>
</ul>


Occidental’s Q2 revenue grew 1.7% YoY but missed estimates by 1.7%. Net profit surged by 34.9% YoY and beat estimates by 32.5%.
Total production rose by 3.3% YoY led by robust growth in the Permian and Gulf of Mexico. Production touched its highest in four years.
Average crude oil realisations rose 8.6% YoY, and natural gas increased by 11.3%, while domestic gas realisations fell sharply by 60.3% YoY.


[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Occidental Petroleum is a quality oil and gas operator focusing on the Permian Basin, available at a discounted price for investors</li><li>The company has undergone strategic changes, selling off non-core operations and refocusing on core assets in the Permian Basin</li><li>Occidental Petroleum has improved management and technological advancements in the Permian Basin, leading to a projected value of $100 per share by 2026</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Occidental Petroleum is a quality oil and gas operator focusing on the Permian Basin, available at a discounted price for investorsThe company has undergone strategic changes, selling off non-core operations and refocusing on core assets in the Permian BasinOccidental Petroleum has improved management and technological advancements in the Permian Basin, leading to a projected value of $100 per share by 2026This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Occidental Petroleum Corp (OXY) - Friday, Mar 29, 2024

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.</li>
<li>Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.</li>
<li>The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).</li>
</ul>


Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.
Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.
The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).


ConocoPhillips/Marathon Oil and Shale Consolidation

<ul><li>In the first quarter 2024 earnings, Occidental (OXY) management displayed confidence in their operational execution and diversified asset portfolio.</li><li>OXY reported a strong start to 2024, overcoming a challenging third party outage in the Eastern Gulf of Mexico and exceeding the midpoint of their production guidance.</li><li>The revenue was driven primarily by robust production results in their oil and gas business and outperformance in their Midstream and OxyChem businesses.</li></ul>

In the first quarter 2024 earnings, Occidental (OXY) management displayed confidence in their operational execution and diversified asset portfolio.OXY reported a strong start to 2024, overcoming a challenging third party outage in the Eastern Gulf of Mexico and exceeding the midpoint of their production guidance.The revenue was driven primarily by robust production results in their oil and gas business and outperformance in their Midstream and OxyChem businesses.

Occidental Petroleum Corporation: Battleground Plant Expansion & Other Major Drivers

United States

Occidental Petroleum Corporation explores for, develops, produces, and markets crude oil and natural gas.  The Company also manufactures and markets a variety of basic chemicals, vinyls and performance chemicals. Occidental also gathers, treats, processes, transports, stores, trades and markets crude oil, natural gas, NGLs, condensate and carbon dioxide (CO2) and generates and markets power.

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Occidental Petroleum (OXY US)

Occidental Petroleum Corporation: Will The CrownRock Acquisition Be A Game Changer? - Major Drivers

Occidental Petroleum Corporation exhibited strong execution and financial health in its Second Quarter 2024 earnings, marking numerous operational...

Baptista Research

[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations

Occidental's Q2 revenue slightly missed estimates, but net profit surged. Production reached a four-year high. Global oil and gas realisations...

Mint Finance

Occidental Petroleum Corp (OXY) - Friday, Mar 29, 2024

Occidental Petroleum is a quality oil and gas operator focusing on the Permian Basin, available at a discounted price for investors

Value Investors Club (VIC)

ConocoPhillips/Marathon Oil and Shale Consolidation

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Occidental Petroleum Corporation: Battleground Plant Expansion & Other Major Drivers

In the first quarter 2024 earnings, Occidental (OXY) management displayed confidence in their operational execution and diversified asset...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Occidental Petroleum Corporation: Will The CrownRock Acquisition Be A Game Changer? - Major Drivers

Occidental Petroleum Corporation exhibited strong execution and financial health in its Second Quarter 2024 earnings, marking numerous operational...

Baptista Research

[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations

​Occidental's Q2 revenue slightly missed estimates, but net profit surged. Production reached a four-year high. Global oil and gas realisations...

Mint Finance

Occidental Petroleum Corp (OXY) - Friday, Mar 29, 2024

Occidental Petroleum is a quality oil and gas operator focusing on the Permian Basin, available at a discounted price for investors

Value Investors Club (VIC)

ConocoPhillips/Marathon Oil and Shale Consolidation

​Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Occidental Petroleum Corporation: Battleground Plant Expansion & Other Major Drivers

In the first quarter 2024 earnings, Occidental (OXY) management displayed confidence in their operational execution and diversified asset...

Baptista Research

Occidental's Q2 revenue slightly missed estimates, but net profit surged. Production reached a four-year high. Global oil and gas realisations...

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...