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Occidental Petroleum Corporation
As of May 21, 2026 at 10:03 UTC
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About Occidental Petroleum Corporation
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2025, the company reported net proved reserves of 4.6 billion barrels of oil equivalent. Net production averaged 1.4 million barrels of oil equivalent per day in 2025 at a ratio of roughly 74% oil and natural gas liquids and 26% natural gas.
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Latest News
5 articlesOccidental Petroleum's stock has underperformed relative to surging oil prices, rising only 30% despite Brent crude jumping 80% to ~$110/barrel. The analyst believes oil prices will remain elevated into 2027 due to supply constraints from well shutdowns and depleted inventories. Additionally, geopolitical shifts in the Middle East, particularly the UAE's exit from OPEC and its partnership opportunities with Occidental, present significant growth catalysts. The stock could appreciate another 25%+ within 12 months if crude stays above $80/barrel.
Occidental Petroleum and Ardmore Shipping are highlighted as undervalued oil sector stocks poised for growth. Occidental has aggressively reduced debt to $13.3 billion, achieved record Permian Basin production, and maintains a $38/barrel break-even price. Ardmore Shipping benefits from elevated tanker rates driven by geopolitical disruptions, with Q1 earnings up 314% year-over-year and a newly doubled dividend payout ratio.
With Brent crude oil prices up 90% to $120/barrel due to Middle East conflict disrupting the Strait of Hormuz, three oil stocks are positioned for further gains: Occidental Petroleum (upstream-focused, higher growth), Chevron (integrated, diversified), and ExxonMobil (integrated, diversified). All three have breakeven prices below $50/barrel and offer attractive valuations and dividend yields.
Occidental Petroleum's stock has rebounded over 45% in 2026 after a difficult 2024-2025, driven by the $9.7 billion sale of OxyChem to Berkshire Hathaway, debt reduction, improved efficiency, and elevated crude oil prices above $100/barrel. While the company appears fairly valued with strong free cash flow projections, risks remain tied to oil price sensitivity and upcoming leadership changes. The analyst recommends waiting for Q1 earnings before making investment decisions.
Following the Iran War outbreak in late February, WTI crude oil prices nearly doubled to $100/barrel, benefiting oil stocks. While Occidental Petroleum (OXY) outperformed Chevron (CVX) over the past three months due to its upstream-focused business, the article recommends Chevron as the better long-term investment. Chevron's diversified operations, 39-year dividend streak, lower breakeven price ($50 vs. $60/barrel), and resilience through oil cycles make it a safer choice despite OXY's higher short-term growth potential and lower valuation multiple.