Occidental Petroleum Corporation (OXY)

Occidental Petroleum's stock price has been influenced by several key events. In January 2026, the stock rallied due to a rebound in crude oil prices and the completion of the sale of OxyChem to Berkshire Hathaway. The initial agreement to sell OxyChem in October 2025 coincided with a share price decline. In the preceding months, Occidental reported lower Q3 2025 results and outlined balance sheet-focused actions, while maintaining its quarterly dividend and making leadership changes.

Demand for Occidental Petroleum's products and services exhibits seasonality, particularly for its oil and natural gas offerings. Crude oil demand typically surges in the summer and winter. Crude inventories tend to increase from February to May, decrease from June to August, build up from September to November, and then decrease in winter. For its chemical products, demand is often linked to the construction industry and seasonal uses like pool maintenance.

Occidental Petroleum Corp. is an international energy company based in Houston, Texas, involved in hydrocarbon exploration and production, chemical manufacturing, and midstream operations. Its core business includes the exploration, development, and production of oil, natural gas liquids, and natural gas. Through OxyChem, it manufactures and markets basic chemicals and vinyls. The Midstream and Marketing segment handles the purchasing, marketing, processing, transporting, and storing of various energy-related products. The company is also advancing carbon capture, utilization, and storage technologies through Oxy Low Carbon Ventures.

Occidental Petroleum's operations are located in the United States, the Middle East, and Latin America. In the United States, it is a major producer in the Permian and DJ basins and the offshore Gulf of Mexico. OxyChem's chemical manufacturing facilities are in the U.S., Canada, and Chile. The company's oil and gas operations in the Middle East include ventures in Oman, Qatar, and the United Arab Emirates.

Occidental Petroleum emphasizes sustainability and innovation, particularly in carbon management and environmental responsibility. Oxy Low Carbon Ventures is developing CCUS projects, including the commercialization of DAC technology. Its subsidiary 1PointFive is constructing STRATOS, projected to be the world's largest DAC facility in Texas. The sale of OxyChem to Berkshire Hathaway in October 2025 drew some analyst criticism regarding the timing and valuation of the deal.

Occidental Petroleum Corporation has a significant institutional ownership presence. Major institutional owners include Berkshire Hathaway Inc., Vanguard Group Inc., Dodge & Cox, BlackRock, Inc., and State Street Corp. Berkshire Hathaway Inc. holds a substantial stake with 264,941,431 shares. Other notable institutional shareholders include Geode Capital Management, Llc, H&H International Investment, Llc, Morgan Stanley, Dimensional Fund Advisors Lp, and Pacer Advisors, Inc.