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Occidental Petroleum nears $10B debt target, boosts cash flow and dividend outlook

Market News
29 Aug 2026
Seeking Alpha
View Source
Bullish
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Occidental Petroleum has reduced its debt to $11.8 billion, approaching its $10 billion goal, which strengthens its financial position and flexibility. The company forecasts sustainable $4 billion annual cash flow by 2030, with strong free cash flow growth even if oil prices remain between $50 and $65 per barrel. Its current 2% dividend yield is expected to increase, supported by efficient cost management and low near-term debt maturities. With solid financials projected for Q2 2026 and potential for double-digit free cash flow yield, Occidental is positioned as a strong long-term investment, assuming no sharp drop in oil prices.

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