Occidental Petroleum Corporation (OXY)

Occidental Petroleum's stock price has declined in the past six months, decreasing by 28.74% between July 22, 2024, and July 18, 2025, and shedding another 15% in the first half of 2025. This underperformance is attributed to falling crude oil prices and concerns over the company's debt following its CrownRock acquisition. Despite these challenges, Occidental has been actively repaying debt, paying down $4.5 billion within five months of the acquisition and an additional $2.3 billion in the first quarter of 2025. The company also increased its quarterly dividend by 9% in April 2025. In April 2025, Occidental's subsidiary, 1PointFive, signed a 25-year carbon offtake agreement with CF Industries to capture and store CO2, as part of Occidental's low-carbon initiatives.

Demand for Occidental Petroleum's products exhibits seasonal patterns, particularly for oil and gas, with increased demand for heating oil and natural gas in the winter and gasoline in the summer. The chlor-alkali market, including chlorine and caustic soda, has been in a demand-driven trough since 2023, but there is typically increased seasonal demand for chlorine in the second and third quarters. Caustic soda demand is more closely tied to manufacturing activity. Occidental's OxyChem segment experienced lower seasonal fourth-quarter demand across most product lines in 2024.

Occidental Petroleum Corp. is an international energy company with a diversified business model that includes oil and gas exploration and production, chemical manufacturing, and midstream and marketing operations. The company focuses on reducing its carbon footprint and developing technologies for a low-carbon future. Its core business segments include oil and gas, which focuses on the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas. The chemical segment, through OxyChem, manufactures and markets a wide range of essential chemicals used across various industries. The midstream and marketing segment is involved in the purchasing, marketing, gathering, processing, transporting, and storing of oil, condensate, NGLs, natural gas, and carbon dioxide.

Occidental Petroleum has a significant global presence, with operations concentrated in the United States and internationally. In the United States, key operational areas include the Permian Basin, the DJ Basin, the Gulf of Mexico, and regions in California, Kansas, Oklahoma, and Texas. Internationally, the company's portfolio extends to the Middle East, Africa, and Latin America, with Occidental being the largest independent oil producer in Oman.

Occidental Petroleum has received positive recognition for its performance and sustainability efforts. Fortune recognized Oxy as one of the "World's Most Admired Companies" in 2023, ranking it No. 1 in the Mining, Crude-Oil Production category. In June 2024, U.S. News & World Report named Oxy one of its "2024-2025 Best Companies to Work For." The company has made significant strides in reducing its environmental footprint, achieving a 20.4% reduction in Scope 1 and Scope 2 greenhouse gas emissions since 2019, and a 65.2% reduction in methane emissions over the same period. Occidental acquired Carbon Engineering in August 2023, aiming to build 100 DAC plants by 2035, contributing to its reputation as a leader in low-carbon technologies.

Occidental Petroleum's ownership structure is diverse, with institutional shareholders holding approximately 75.26% of the stock. Major institutional owners include Berkshire Hathaway Inc., Dodge & Cox, Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Carl C. Icahn is the largest individual shareholder, owning 73.63 million shares, representing 7.48% of the company.