Stock events for Occidental Petroleum Corp. (OXY)
Occidental Petroleum's stock price has been influenced by several key events and analyst activities. The announcement of the OxyChem division sale to Berkshire Hathaway for $9.7 billion led to a negative market reaction, with shares falling more than 6%. Mizuho upgraded OXY from 'Neutral' to 'Outperform', while other firms adjusted price targets. Occidental continued to generate substantial cash flow, with $3.0 billion in operating cash flow in Q2 2025 and repaid $3.0 billion of debt year-to-date through Q2 2025.
Demand Seasonality affecting Occidental Petroleum Corp.’s stock price
The demand seasonality for Occidental Petroleum's products and services is primarily influenced by global supply and demand dynamics for crude oil, natural gas, and chemical products. Oil and gas pricing is heavily influenced by global economic conditions, geopolitical tensions, and OPEC production decisions. Chemical prices correlate to the strength of the United States and global economies, as well as chemical industry expansion and contraction cycles. The sale of OxyChem will make Occidental more susceptible to commodity price volatility.
Overview of Occidental Petroleum Corp.’s business
Occidental Petroleum Corporation (OXY) is an international energy company focused on hydrocarbon exploration and production, with a strategic pivot towards low-carbon ventures. The company's core business involves the exploration, development, and production of crude oil, natural gas liquids (NGLs), and natural gas. Occidental agreed to sell its OxyChem chemicals division to Berkshire Hathaway Inc. for $9.7 billion, marking a shift to concentrate on its core oil and gas operations and its growing carbon management businesses. Through Oxy Low Carbon Ventures (OLCV), Occidental is investing in carbon capture, utilization, and storage (CCUS) technologies, aiming for net-zero emissions by 2050.
OXY’s Geographic footprint
Occidental Petroleum has a broad geographic footprint, with significant operations in the United States and internationally. In the U.S., the company has a substantial presence in the Permian Basin, DJ Basin, and the offshore Gulf of Mexico. Internationally, Occidental operates in the Middle East and North Africa, including countries such as Oman, Qatar, and the United Arab Emirates. The company also has ventures in Latin America, specifically in Colombia and Ecuador.
OXY Corporate Image Assessment
Occidental Petroleum has focused on enhancing its brand reputation through sustainability initiatives and employee recognition. The company is investing in carbon capture, utilization, and storage (CCUS) technologies and aims for net-zero emissions by 2050. Occidental was recognized by CDP with an A- score for its climate disclosure and by U.S. News & World Report as one of the Best Companies to Work For. The sale of OxyChem is part of a strategic pivot to reduce debt and focus on core oil and gas and carbon management businesses.
Ownership
Occidental Petroleum is largely controlled by institutional shareholders, who own approximately 76.19% of the company's stock. Berkshire Hathaway Inc. holds the largest stake at 26.91%. Other major institutional owners include Vanguard Group Inc., Dodge & Cox, Blackrock Inc., and State Street Corp. Carl C. Icahn is the largest individual shareholder, owning 7.48% of the company.
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