OXY — Occidental Petroleum Corporation
Energy · Oil & Gas E&P
About Occidental Petroleum Corporation
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through Oil and Gas and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. This segment also optimizes its transportation and storage capacity and invests in entities. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
The shale & E&P industry
Exploration & production companies are the pure upstream bet: they own acreage, drill wells, and sell oil and gas at whatever the market pays. Shale wells produce most of their oil in the first couple of years, so these companies must keep drilling just to hold output flat — which makes cost per barrel, acreage quality, and the hedging program the whole game. Some names here are mostly natural gas (EQT, Antero) — a different commodity with its own cycle, increasingly tied to LNG exports and power demand. The sector has consolidated hard — Pioneer, Hess and Marathon Oil were all swallowed by majors — and the survivors are larger and more disciplined. Expect these to amplify every move in the underlying commodity, in both directions. Occidental brings Permian scale, Berkshire Hathaway as its anchor shareholder, and the debt load from its Anadarko and CrownRock acquisitions.
Key data · delayed ~15 min, as of 1 August 2026
| Ticker | OXY |
| Company | Occidental Petroleum Corporation |
| Price | $57.07 |
| Market cap | $56.8B |
| Sector / industry | Energy / Oil & Gas E&P |
| Analyst mean target | $65 (23 analysts, buy) |
Valuation read
What the price implies: the market is pricing in roughly ~1%/yr earnings growth (modest), on a reverse-DCF of forward earnings ($3.93). Run your own assumptions in the fair-value calculator.
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