Occidental Petroleum
Oil and gas producer with midstream, marketing and carbon-management operations.
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Profile
Produces oil, NGLs and natural gas across major US basins and international partnerships, supported by gathering, processing, transportation and marketing. Following the OxyChem sale, cash generation is concentrated in upstream operations, while its midstream segment also develops carbon capture and direct air capture projects.
Produces oil, natural gas liquids and natural gas across the Permian and DJ basins, the deepwater Gulf of America, and operations in Algeria, Oman, Qatar and the UAE. The Oil and Gas segment develops these resources, while Midstream and Marketing gathers, processes, transports, stores and sells company and third-party volumes.
Combines large US onshore positions with enhanced-recovery expertise, offshore platforms and long-dated international partnerships. Oxy Low Carbon Ventures, housed in Midstream and Marketing, develops carbon capture, utilization and storage projects and direct air capture through 1PointFive, including STRATOS in Texas.
Following the OxyChem divestiture, results are concentrated in upstream production and related logistics. Earnings depend on oil, NGL and gas prices, transportation and storage spreads, operating performance and permits; carbon-removal projects also face evolving policy, financing and credit-verification requirements.
Company facts
Key statistics
Year to date +39.4% · Average volume (30d) 7.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Barclays | Reiterate | Overweight | $75 | $71 | |
| Aug 10, 2026 | Truist Financial | Target | $57 | $63 | ||
| Aug 7, 2026 | Morgan Stanley | Target | $68 | $69 | ||
| Aug 7, 2026 | Wells Fargo | Reiterate | Overweight | $72 | $79 | |
| Aug 6, 2026 | Barclays | Reiterate | Overweight | $72 | $75 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $1.83 | $2.40 | +31.1% | $7.07B | $8.07B | +14.0% | +4.14% |
| May 5, 2026Q1 FY26 | $0.60 | $1.06 | +76.4% | $5.44B | $5.23B | −3.9% | −7.25% |
| Feb 18, 2026Q4 FY25 | $0.16 | $0.31 | +88.0% | $5.55B | $5.11B | −7.9% | +9.38% |
| Nov 10, 2025Q3 FY25 | $0.51 | $0.64 | +25.0% | $6.75B | $6.62B | −1.9% | +0.12% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.80B | $6.32B | $6.62B | $5.01B | $5.23B | $8.33B | |
| Gross profit | $2.46B | $1.91B | $2.16B | $1.39B | $620.0M | $6.75B | |
| Operating income | $1.48B | $857.0M | $1.17B | $467.0M | $375.0M | $3.78B | |
| Net income | $931.0M | $431.0M | $830.0M | $102.0M | $3.35B | $2.98B | |
| Diluted EPS | $0.77 | $0.26 | $0.65 | −$0.07 | $3.17 | $2.75 | |
| Gross margin | 36.1% | 30.2% | 32.6% | 27.8% | 11.9% | 81.0% | |
| Operating margin | 21.7% | 13.6% | 17.7% | 9.3% | 7.2% | 45.4% |
Fiscal years (4-quarter sums)FY21 $25.96B · FY22 $36.25B · FY23 $28.33B · FY24 $27.10B · FY25 $24.76B
Revenue by product · Q4 FY25
Revenue by geography · Q4 FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $4.15B · Total debt $14.63B · Total assets $80.36B · Shareholders' equity $41.75B
Dividends
Raised for 5 straight years — most recently to $0.26 from $0.24 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2026 | Jun 10 | Jul 15 | $0.26 | |
| Mar 10, 2026 | Mar 10 | Apr 15 | $0.26 | raised from $0.24 |
| Dec 10, 2025 | Dec 10 | Jan 15 | $0.24 | |
| Sep 10, 2025 | Sep 10 | Oct 15 | $0.24 | |
| Jun 10, 2025 | Jun 10 | Jul 15 | $0.24 | |
| Mar 10, 2025 | Mar 10 | Apr 15 | $0.24 | raised from $0.22 |
| Dec 10, 2024 | Dec 10 | Jan 15 | $0.22 | |
| Sep 10, 2024 | Sep 10 | Oct 15 | $0.22 |
Ownership
Shares outstanding 994.63M · Float 990.59M · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Warren E. Buffett | 348.85M | 32.70% | 13G | Aug 14, 2025 |
| Berkshire Hathaway Inc | 264.94M | 26.64% | 13F | Aug 14, 2026 |
| Dodge & Cox | 72.76M | 7.32% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 52.14M | 5.20% | 13G | Jul 29, 2026 |
| Vanguard Capital Management LLC | 48.10M | 4.84% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 23, 2026 | Richard A. Jackson | director, officer: President and CEO | +4,770 | $52.38 |
| Dec 16, 2025 | William R. Klesse | director | +5,000 | $38.98 |
Peers
- ExxonMobil
Largest Permian operator post-Pioneer; integrated scale and CCS widen the gap.
- Chevron
Lost the 2019 Anadarko bid; now produces 1M Boe/d in the same Permian plays.
- ConocoPhillips
Largest independent E&P; ~900 MBoe/d from Permian, Delaware and Midland basins.
- Diamondback Energy
Pure-play Permian Midland operator; ~521 MBo/d oil, head-to-head on acreage.
- EOG Resources
Multi-basin independent; Delaware Basin leader, peer-leading cost discipline.
- Devon Energy
Post-Coterra Delaware Basin leader; ~1.6M Boe/d, 750K net acres in core play.
- Permian Resources
Second-largest Permian pure-play; ~415 MBoe/d, Delaware Basin concentrated.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Occidental Petroleum | $59.23 | +0.23% | $58.78B | 9.1 | 13.2 | 2.3 | +27.7% |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| Chevron | $204.35 | +1.24% | $402.06B | 19.4 | 13.2 | 1.9 | +57.9% |
| ConocoPhillips | $129.95 | −0.32% | $158.80B | 17.3 | 13.4 | 2.5 | +39.7% |
| Diamondback Energy | $197.67 | −0.03% | $55.61B | 38.6 | 10.7 | 3.3 | +32.1% |
| EOG Resources | $143.49 | +0.12% | $76.35B | 11.2 | 9.5 | 2.9 | +60.5% |
| Devon Energy | $47.48 | +0.26% | $52.09B | 11.2 | 9.5 | 2.6 | +83.2% |
| Permian Resources | $22.86 | +0.82% | $19.01B | 15.0 | 10.3 | 3.3 | +55.2% |
| Median | 17.3 | 10.7 | 2.6 | +55.2% |