Occidental Petroleum has significantly reduced its debt from $29 billion to $13.3 billion in less than two years, saving $830 million annually in interest. The company leads in Permian oil production, exceeding 1.4 million barrels per day, and projects a free cash flow of $5.5 billion by 2026 at $65 per barrel WTI. These improvements position Occidental for a 9% free cash flow yield and strong shareholder returns, supported by ongoing cost reductions and balance sheet cleanup. This makes Occidental an attractive investment case despite its nearly $60 billion market cap and recent share price gains driven by oil price strength.
Occidental Petroleum's shares have surged 48.34% year to date, boosted by a $5.8 billion debt reduction, an 8% dividend increase, and strategic moves like selling OxyChem to Berkshire Hathaway. Despite strong gains, challenges remain including contra...
Occidental Petroleum's shares have risen 45% year-to-date in 2026, outperforming major U.S. oil producers like ConocoPhillips and Diamondback Energy. This leadership is driven by Occidental's recent $5.8 billion debt reduction from its OxyChem sale, ...
