Headquartered in Houston, TX Fiscal year ends December NYSE: OXY oxy.com
Occidental Petroleum (NYSE: OXY) is an international energy company that produces, markets and transports oil, natural gas liquids and natural gas. It also pursues carbon management and lower-carbon technologies and products.
It reports two segments:
- **Oil and Gas:** Domestic operations in the Permian Basin, the Rockies and other domestic areas, and the Gulf of America. International operations in Algeria, Oman, and the UAE-based Al Hosn gas project and Dolphin.
- **Midstream and Marketing:** Gas and crude marketing, an equity method investment in WES, and sulfur sales at Al Hosn.
The chemical business, now reported as discontinued operations, has been divested; Occidental retains certain related liabilities. In 2026 the company has focused on debt reduction, cutting principal debt to $10.0 billion, and on a plan to add more than $4.0 billion of annual sustainable cash flow by 2030. Updated
Occidental's debt paydown has cut quarterly interest and debt expense to $78 million from $266 million a year ago, powering a roughly 30% adjusted EPS beat even as revenue came in just under consensus. Management points to more than $4 billion in added annual cash flow by 2030 with faster shareholder returns attached.
We reached an important milestone in the third quarter, reducing principal debt to $10.0 billion after retiring $10.4 billion of debt since the beginning of this year.
Occidental has now paid down more debt this year than it still carries, a deleveraging pace that frees cash flow for shareholders just as $60 oil squeezes Permian rivals. With a $55.8 billion market cap, the balance sheet is no longer the bear case.
With our stronger balance sheet, we are advancing our plan to add more than $4.0 billion in annual sustainable cash flow by 2030, providing a pathway to accelerate capital returns and deliver durable long-term value for our shareholders.
Jackson is putting a number on deleveraging payoff: a cash flow target worth more than 7% of Occidental's $55.8 billion market cap, earmarked for buybacks and dividends rather than drilling. Capital returns policy is the thing to watch from here.
A new Form 3 at Occidental Petroleum adds another senior officer to the disclosure roster, meaning Bennett's buys and sales now post publicly as the $56.3 billion Berkshire-backed producer navigates the next wave of Permian consolidation. Every future trade he makes is now on the tape.
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Occidental Petroleum (NYSE: OXY) is an international energy company that produces, markets and transports oil, natural gas liquids and natural gas. It also pursues carbon management and lower-carbon technologies and products.
24/7 Wall St.'s 12-month price target for OXY is $55.23, rated Hold. The Wall Street consensus target is $70.74. OXY price prediction →
