olivLaw · US equity research
Occidental Petroleum Corporation OXY
Crude Petroleum & Natural Gas · SIC 1311 · Vertical: Crude Petroleum & Natural Gas (SIC 1311)
Occidental Petroleum (OXY) is a major U.S. oil and gas producer with assets in the Permian, Rockies and Gulf of America. In 2025 it sold OxyChem for $9.7 billion, and principal debt was reduced to about $15 billion, against a target of $14.3 billion. Quarterly results depend strongly on oil prices, which rose in the second quarter of 2026.
At the close of 04 Nov 2026, Occidental Petroleum Corporation (OXY) stock was 57.33 USD (−5.13% on the day), with market capitalisation 57.3 bn USD, P/E 8.6 on diluted EPS of 6.64 USD over the last 12 months, dividend yield 1.74%, beta 0.41, 52-week range 38.92–66.24 USD. Latest reported quarter (Q2 2026): revenue of 8.1 bn USD (+53.4% YoY), net income of 3.0 bn USD (+540.2% YoY), diluted EPS 2.75 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 35.9
- weak (30–45)
- Bollinger (20, 2)
- 58.64 – 65.14
- below the lower band · %B -0.20 · band width 10.5%
- SMA 50 / 200
- 60.15 / 56.32
- mixed trend
- MACD (12, 26, 9)
- 0.32 / 0.88
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.7% | −1.1% | −0.6 pp | — |
| 3 months | +6.5% | −0.5% | +7.0 pp | — |
| 6 months | +4.0% | +4.4% | −0.4 pp | — |
| Year to date | +39.4% | +12.3% | +27.1 pp | — |
| 1 year | +43.0% | +13.5% | +29.5 pp | +28.1% |
| 3 years | −9.0% | +76.4% | −85.4 pp | +21.5% |
| 5 years | +71.5% | +63.7% | +7.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.2 bn | 2.1 bn | 5.7 bn | 5.3 bn | 6.6 bn | 1.8 bn | 5.2 bn | 8.1 bn |
| Cost of revenue | 889.0 m | 494.0 m | 801.0 m | 847.0 m | 812.0 m | — | — | — |
| SG&A | 268.0 m | 174.0 m | 241.0 m | 257.0 m | 277.0 m | 158.0 m | 245.0 m | 262.0 m |
| Depreciation & amortisation | 1.9 bn | 1.6 bn | 1.8 bn | 1.8 bn | 2.1 bn | 1.6 bn | 1.8 bn | 1.8 bn |
| Interest expense | 312.0 m | 321.0 m | 310.0 m | 271.0 m | 270.0 m | 215.0 m | 432.0 m | 108.0 m |
| Pre-tax income | 1.6 bn | -215.0 m | 1.2 bn | 560.0 m | 1.2 bn | -108.0 m | 390.0 m | 3.9 bn |
| Income tax | 454.0 m | -65.0 m | 347.0 m | 222.0 m | 324.0 m | 40.0 m | 154.0 m | 915.0 m |
| Net income | 1.1 bn | -120.0 m | 945.0 m | 468.0 m | 842.0 m | 114.0 m | 3.4 bn | 3.0 bn |
| Diluted EPS | 0.98 | -0.12 ≈ | 0.77 | 0.26 | 0.65 | 0.11 ≈ | 3.13 | 2.75 |
| Operating cash flow | 3.7 bn ≈ | 3.4 bn | 2.1 bn | 3.0 bn ≈ | 2.8 bn ≈ | 2.6 bn | 1.3 bn | 4.3 bn ≈ |
| Capex | 1.7 bn ≈ | 1.0 bn | 1.7 bn | 1.7 bn ≈ | 2.3 bn ≈ | 753.0 m | 1.6 bn | 1.6 bn ≈ |
| Dividends paid | 371.0 m ≈ | 377.0 m | 380.0 m | 398.0 m ≈ | 408.0 m ≈ | 408.0 m | 409.0 m | 430.0 m ≈ |
| Share repurchases | 0 ≈ | 18.0 m | 0 | 0 ≈ | 0 ≈ | 0 | 56.0 m | 61.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 21 percentile of its own 29-quarter history (min 5.0, median 15.6, max 446.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | ⚠ 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17.8 bn | 20.9 bn | 17.8 bn | 26.0 bn | 36.6 bn | 23.2 bn | 22.0 bn | 21.6 bn |
| Revenue YoY | +42.5% | +17.3% | −14.8% | +45.7% | +41.1% | — | −4.9% | −1.9% |
| Net income | 4.1 bn | -985.0 m | -14.8 bn | 2.3 bn | 13.3 bn | 4.7 bn | 3.1 bn | 2.4 bn |
| Net income YoY | +215.1% | −123.8% | unavailable | unavailable | +473.0% | — | −34.5% | −23.0% |
| Diluted EPS | 5.39 | -1.22 | -17.06 | 1.58 | 12.40 | 3.90 | 2.44 | 1.61 |
| Diluted EPS YoY | +217.1% | −122.6% | unavailable | unavailable | +684.8% | — | −37.4% | −34.0% |
| net % | 23.2% | -4.7% | -83.3% | 8.9% | 36.3% | 20.3% | 14.0% | 11.0% |
| Free cash flow | 2.7 bn | 1.0 bn | 1.4 bn | 7.6 bn | 12.3 bn | 6.6 bn | 5.2 bn | 4.1 bn |
The series breaks before 2023: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.0 bn USD
- Financial debt
- 22.4 bn USD
- Net debt
- 20.4 bn USD
- Equity
- 36.6 bn USD
- Total assets
- 84.2 bn USD
- Debt / equity
- 0.61x
- Current ratio
- 0.94x
- ROE
- 6.7%
- ROA
- 2.8%
- FCF margin
- 19.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 17.8 bn | 26.0 bn | 36.6 bn | 23.2 bn | 22.0 bn | 21.6 bn | SEC (XBRL)· 18 Feb 2026verified |
| Cost of revenue | 2.4 bn | 2.8 bn | 3.3 bn | 3.1 bn | 3.1 bn | — | SEC (XBRL)· 18 Feb 2025verified |
| Gross profit | 15.4 bn ≈ | 23.2 bn ≈ | 33.4 bn ≈ | 20.0 bn ≈ | 18.9 bn ≈ | — | SEC (XBRL)· 18 Feb 2026derived |
| SG&A | 864.0 m | 863.0 m | 945.0 m | 987.0 m | 960.0 m | 986.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Depreciation & amortisation | 8.1 bn | 8.4 bn | 6.9 bn | 6.4 bn | 7.0 bn | 7.5 bn | SEC (XBRL)· 18 Feb 2026verified |
| Interest expense | 1.4 bn | 1.6 bn | 1.0 bn | 957.0 m | 1.2 bn | 1.1 bn | SEC (XBRL)· 18 Feb 2026verified |
| Pre-tax income | -15.7 bn | 3.7 bn | 14.1 bn | 4.7 bn | 4.0 bn | 3.1 bn | SEC (XBRL)· 18 Feb 2026verified |
| Income tax | -2.2 bn | 915.0 m | 813.0 m | 1.3 bn | 1.2 bn | 1.0 bn | SEC (XBRL)· 18 Feb 2026verified |
| Net income | -14.8 bn | 2.3 bn | 13.3 bn | 4.7 bn | 3.1 bn | 2.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Diluted EPS | -17.06 | 1.58 | 12.40 | 3.90 | 2.44 | 1.61 | SEC (XBRL)· 18 Feb 2026verified |
| Weighted average diluted shares | 918.7 m | 958.8 m | 1.0 bn | 960.9 m | 967.1 m | 1.0 bn | SEC (XBRL)· 18 Feb 2026verified |
| Dividend per share | 0.82 | 0.04 | 0.52 | 0.72 | 0.88 | 0.96 | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 2.0 bn | 2.8 bn | 984.0 m | 1.4 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 18 Feb 2026verified |
| Receivables | 2.1 bn | 4.2 bn | 4.3 bn | 3.2 bn | 2.8 bn | 2.6 bn | SEC (XBRL)· 18 Feb 2026verified |
| Inventories | 1.9 bn | 1.8 bn | 2.1 bn | 2.0 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 18 Feb 2026verified |
| Current assets | 8.8 bn | 10.2 bn | 8.9 bn | 8.4 bn | 9.1 bn | 8.8 bn | SEC (XBRL)· 18 Feb 2026verified |
| Property, plant & equipment, net | 65.9 bn | — | — | — | — | 63.6 bn | SEC (XBRL)· 05 May 2026verified |
| Goodwill | — | — | — | — | 668.0 m | 668.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Total assets | 80.1 bn | 75.0 bn | 72.6 bn | 74.0 bn | 85.4 bn | 84.2 bn | SEC (XBRL)· 18 Feb 2026verified |
| Accounts payable | 3.0 bn | 3.9 bn | 4.0 bn | 3.6 bn | 3.5 bn | 3.3 bn | SEC (XBRL)· 18 Feb 2026verified |
| Short-term debt | 440.0 m | 186.0 m | 165.0 m | 1.2 bn | 1.1 bn | 1.8 bn | SEC (XBRL)· 18 Feb 2026verified |
| Long-term debt | 35.7 bn | 29.4 bn | 19.7 bn | 18.5 bn | 25.0 bn | 20.6 bn | SEC (XBRL)· 05 May 2026verified |
| Current liabilities | 8.2 bn | 8.3 bn | 7.8 bn | 9.1 bn | 9.5 bn | 9.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Equity | 18.6 bn | 20.3 bn | 30.1 bn | 30.3 bn | 34.5 bn | 36.6 bn | SEC (XBRL)· 18 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 4.0 bn | 10.4 bn | 16.8 bn | 12.3 bn | 11.4 bn | 10.5 bn | SEC (XBRL)· 18 Feb 2026verified |
| Capex | 2.5 bn | 2.9 bn | 4.5 bn | 5.7 bn | 6.3 bn | 6.4 bn | SEC (XBRL)· 18 Feb 2026verified |
| Free cash flow | 1.4 bn ≈ | 7.6 bn ≈ | 12.3 bn ≈ | 6.6 bn ≈ | 5.2 bn ≈ | 4.1 bn ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Investing cash flow | -819.0 m | -1.3 bn | -4.9 bn | -7.0 bn | -14.6 bn | -5.8 bn | SEC (XBRL)· 18 Feb 2026verified |
| Financing cash flow | -4.5 bn | -8.6 bn | -13.7 bn | -4.9 bn | 3.8 bn | -4.8 bn | SEC (XBRL)· 18 Feb 2026verified |
| Dividends paid | 1.8 bn | 839.0 m | 1.2 bn | 1.4 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 18 Feb 2026verified |
| Share repurchases | 12.0 m | 8.0 m | 3.1 bn | 1.8 bn | 27.0 m | 0 | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 57 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 57.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation93
- Balance sheet51
- Quality75
- Growth0
- Returns67
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 56.35 – 97.58 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)56.35 – 97.58 (Mid 71.71)WACC 8.4% · starting FCFF 5.5 bn USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -12.8%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E66.02 – 83.45 (Mid 76.04)7 companies used · median multiple 11.4x · quartiles 9.9x – 12.6xAPA, DVN, EOG, EQT, EXE, OVV, PR
- Dividend discount (DDM)outside the aggregate12.62 – 16.97 (Mid 14.47)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 57/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 33.7% | 100 (vs peers) | 10% |
| FCF conversion · Quality | 65.6% | 51 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -16.2% | 0 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -49.4% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.4x | 51 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 8.6x | 88 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 8.4% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.1% | 44 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 34.5% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial51/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality75/100 · 2/3 factors with a value
- Returns67/100 · 2/2 factors with a value
- Valuation93/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
OCCIDENTAL PETROLEUM CORPORATION (OXY). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 21.6 bn USD in 2025; YoY growth -1.9%; net margin 33.7%; ROE 18.9%.
The estimated value range is 61.18–90.52 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 73.88 USD, the price of 57.33 USD leaves a potential of 28.9% (value / price − 1) and a margin of safety of 22.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 57/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 33.7%
- P/E (TTM): 8.6x
- FCF yield: 8.4%
- Payout ratio (FCF): 34.5%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -16.2%
- EPS CAGR 3Y: -49.4%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Crude Petroleum & Natural Gas (SIC 1311) · same industry (4-digit SIC) · compared with 8 companies
Only companies with a capitalisation between 7.8 bn and 499.8 bn (within 8× of the company's); 74 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EOGEog Resources, Inc. | 77.1 bn | 11.4 | 22.5% | 25.4% | −4.5% | +36% / +19% |
| OXYOccidental Petroleum Corporation | 57.3 bn | 8.6 | 18.9% | 33.7% | −1.9% | +43% / −9% |
| FANGDiamondback Energy, Inc. | 51.1 bn | 25.0 | 5.3% | 11.0% | +35.8% | +20% / +18% |
| DVNDevon Energy Corp | 48.5 bn | 10.5 | 11.5% | 16.7% | +7.8% | +19% / −2% |
| EQTEqt Corporation | 32.9 bn | 12.5 | 10.9% | 28.4% | +63.9% | −14% / +31% |
| EXEExpand Energy Corporation | 20.2 bn | 7.6 | 14.6% | 19.8% | +186.3% | −28% / +9% |
| PRPermian Resources Corporation | 18.8 bn | 14.9 | 11.5% | 21.5% | +1.3% | +55% / +71% |
| OVVOvintiv Inc. | 16.8 bn | 12.7 | 12.1% | 12.8% | −2.7% | +53% / +41% |
| APAApa Corporation | 15.6 bn | 9.4 | 25.9% | — | unavailable | +78% / +24% |
1- and 3-year price returns: for OXY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 33.74 Total return -40% · Per year -40% | 59.96 Total return 6% · Per year 6% | 90.72 Total return 60% · Per year 60% |
| 3 years | 26.79 Total return -50% · Per year -20% | 54.11 Total return -0% · Per year -0% | 90.72 Total return 65% · Per year 18% |
| 5 years | 21.27 Total return -57% · Per year -16% | 48.83 Total return -7% · Per year -1% | 90.72 Total return 69% · Per year 11% |
- Exit P/E± 13.53
- Net margin± 9.47
- Annual revenue growth± 8.55
- Annual dilution± 0.80
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Occidental Petroleum (OXY) is a major U.S. oil and gas producer with assets in the Permian, Rockies and Gulf of America. In 2025 it sold OxyChem for $9.7 billion 1, and principal debt was reduced to about $15 billion 1, against a target of $14.3 billion 1. Quarterly results depend strongly on oil prices, which rose in the second quarter of 2026 2.
SWOT
Strengths
- Important position among U.S. liquids producers, with scale and technical expertise in established basins.
- Asset portfolio with high-margin inventory and the ability to bring additional production to market quickly.
- Clear debt reduction strategy supported by the OxyChem sale.
Weaknesses
- Results depend heavily on oil prices, and the company had no commodity hedges in place at the end of 2025 1.
- Debt remains significant, and credit ratings could influence the cost of financing.
- Realized NGL prices have stayed below WTI, which limits margins.
Opportunities
- If prices stay high, cash flow could accelerate debt reduction and share repurchases 1.
- CO2 sequestration projects could open new revenue if supported by incentives.
- Permian and Gulf of America assets could support production growth at controlled costs.
Risks
- Commodity price exposurehigh
Results are closely correlated with oil, NGL and natural gas prices, which are volatile 1.
- Debt and access to capitalmedium
The level of debt could limit financial flexibility, and a credit rating downgrade could raise costs 1.
- Tronox tax matterhigh
If the Tax Court disallows the deduction, the company could be required to repay the refund received by Anadarko, plus interest 1.
- Litigation and environmental liabilitiesmedium
The company remains exposed to litigation and legacy environmental liabilities tied to divested assets through indemnification obligations 1.
- Operational disruptionsmedium
Pipeline constraints and temporary production curtailments in the Gulf of America could affect quarterly results 3.
Investment thesis
What would need to be true (bull case)
- If oil prices stay high and production holds within guidance, cash flow could support debt reduction and returns to shareholders 12.
- The OxyChem sale brought liquidity and reduced debt, which could give more flexibility for investment or repurchases 1.
- Low-cost Permian assets and carbon capture projects could support medium-term growth 1.
What would break the thesis
- If oil prices fall, results and cash flow could be hit quickly, and the company had no active hedges 1.
- The Tronox tax risk could lead to significant payments not covered by insurance 1.
- Production interruptions and reliance on third-party infrastructure could limit deliveries and quarterly margins 3.
What to watch
- Full restoration of Gulf of America productionQ4 2026
- Tax Court decision in the Tronox matter2027
- Start of STRATOS operations and first CO2 sequestration2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Occidental Petroleum is mainly engaged in exploring, developing and producing oil, natural gas liquids (NGL) and natural gas, and is among the largest U.S. producers of liquids 1. The oil and gas segment received $5.6 billion of investment in fiscal 2025 in high-return assets focused on the Permian Basin, DJ Basin, Gulf of America and Oman 1. The company also runs a midstream and marketing segment including the STRATOS carbon capture project 1. The sale of the OxyChem chemical business, completed on January 2, 2026, shifted the company toward greater exposure to hydrocarbon prices 1.
Segments
Oil and gas
The oil and gas segment focuses on low-cost, high-return assets in the Permian Basin, Rockies, Gulf of America and international operations 1. The company aims to maintain production and generate free cash flow from short and mid-cycle projects 1. The average WTI price was $64.81 per barrel in fiscal 2025 1 and $92.79 per barrel in the second quarter of 2026 2.
Trends
- Oil price volatilitymixed
Oil prices have been volatile and could remain so, directly affecting revenue and cash flow 12.
- Geopolitical tensionsmixed
Conflicts in the Middle East supported prices through risk premiums but could also disrupt maritime transport and energy infrastructure 2.
- Tax and environmental policyheadwind
Legislative changes to taxes and credits for low-carbon projects could alter the tax burden and compliance costs 1.
- Trade tariffsheadwind
Tariffs on imports could raise supplier costs and also affect demand and prices for the company's products 1.
Competitive position
Occidental competes with other large independent U.S. producers and international companies for reserves, capital and skilled staff. Competitive pressure shows in per-barrel costs and in the ability to develop new assets at competitive prices 1.
- U.S. independent oil and gas producers
Producers active in the Permian and other U.S. basins competing for the same assets and investment 1.
- International oil companies
Large operators competing for international projects and talent amid volatile prices 1.
- NGL producers
Companies competing in the NGL market, where Occidental's realized prices have been below WTI 1.
- Carbon capture technology providers
Companies active in CCUS and DAC, an area where Occidental competes for partnerships and financing 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Putin trece acțiunile unui gigant occidental din industria tutunului în administrarea statului rusDigi24 · 05 Nov 2026 · RO
- Specialiști în domeniul spațial avertizează că Rusia pare a fi simulat un atac asupra unui satelit comercial occidental, luna trecută, când s-a apropiat periculos de mult de satelitul unei companii finlandeze. În prezent, alți doi sateliți rusești se îndreaptă spre un al doilea aparat spațial al aceleiași companii.Biziday.ro · 05 Nov 2026 · RO
- „Este cea mai agresivă atitudine pe care am văzut-o”. Rusia ar fi simulat un atac asupra unui satelit occidentalDigi24 · 05 Nov 2026 · RO
- Rusia a repetat un atac asupra unui satelit occidental, spune un analist spațialAdevărul · 05 Nov 2026 · RO
- Un satelit militar rus ar fi simulat un posibil atac asupra unui satelit occidental. Alte două nave spațiale rusești se apropie de un nou obiectivMediafax · 05 Nov 2026 · RO
- Bulgarii aleg între „președinta păcii” și candidatul pro-occidental. Lupta este strânsă - Forbes RomaniaSurge — Google News · 01 Nov 2026 · RO
- Alegeri prezidențiale în Bulgaria. O luptă strânsă între „președinta păcii” și candidatul pro-occidental în cea mai săracă țară din UEHotNews.ro · 01 Nov 2026 · RO
- Alegeri prezidențiale în Bulgaria: Iliana Iotova face apel la pace, contracandidatul pro-occidental Andrei Ghiurov cere dezbatere publicăG4Media · 26 Oct 2026 · RO
- Elon Musk acuză elitele ucrainene că s-au îmbogățit din ajutorul occidental: „Copiii oamenilor obișnuiți sunt trimiși să moară în tranșee”Financial Intelligence (RO) · 24 Oct 2026 · RO
- Cum a învins iubirea Securitatea comunistă. Povestea româncei care a fentat regimul pentru a se căsători cu un occidentalAdevărul · 12 Oct 2026 · RO
- Crin Antonescu: Ultima șansă a scenei politice de a da un guvern pro-occidental sau pro-europeanMediafax · 11 Oct 2026 · RO
- FrankenSAM: armele „mutante" care umplu golul lăsat de scăderea ajutorului occidental pentru a doborî dronele cu motor cu reacție ale RusieiAdevărul · 09 Oct 2026 · RO
- Rusia își construiește propria alternativă la sistemul financiar occidental. Rubla digitală depășește de trei ori estimările în prima lunăAdevărul · 06 Oct 2026 · RO
- Mugur Isărescu, guvernatorul BNR: Putem avea un parcurs de creştere economică care să ne asigure convergenţa spre standardul de viaţă occidental doar dacă avem mare grijă de echilibrele macroeconomiceZiarul Financiar · 29 Sept 2026 · RO
- Un cunoscut lanț de magazine occidental intră mâine oficial pe piața din RomâniaHotNews.ro · 29 Sept 2026 · RO
- Mugur Isărescu: România se poate apropia de nivelul de trai occidental doar dacă își protejează echilibrele macroeconomice - Stirile ProTVSurge — Google News · 29 Sept 2026 · RO
- Avertismentul unui serviciu de informații occidental: Nu putem exclude scenariul unei invazii ruseMediafax · 24 Sept 2026 · RO
- Occidental Now Trades Below Wall Street’s Raised Targets. Here’s Where the Stock Could GoYahoo Finance — News · 21 Sept 2026 · EN
- Chevron vs. Occidental Petroleum: Which Oil Stock Is a Better Buy in 2026?Yahoo Finance — News · 21 Sept 2026 · EN
- Using A Limit Order To Buy Occidental Petroleum At A DiscountYahoo Finance — News · 18 Sept 2026 · EN
SEC filings
- Current report13 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report10 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
- Current report04 May 2026Departure or appointment of officers · Shareholder vote · Regulation FD disclosure · Financial statements and exhibits
- Current report10 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement19 Mar 2026
- Current report09 Mar 2026Material agreement · Item 3.03 · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Occidental Petroleum Corporation · 18 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Occidental Petroleum Corporation · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Occidental Petroleum Corporation · 13 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.