Occidental Petroleum(NYSE) OXY

Occidental Petroleum Corp. finds and pumps oil and natural gas to power the world. The company moves these energy products through pipelines to reach customers. It also works to manage carbon emissions while supplying fuel for daily life.

What Does the Company Do?

• Oil and Gas: Exploration and production of oil, condensate, natural gas liquids, and natural gas in domestic and international locations.
• Midstream and Marketing: Gathering, processing, and transporting products while optimizing pipeline and storage capacity for energy markets.
• Carbon Management: Development of carbon capture and sequestration solutions to reduce emissions through integrated technologies.

Recent Strategic Moves

• Completed the sale of the OxyChem chemical business on Jan. 2, 2026, for an adjusted sales price of $9.5 billion.
• Reduced long-term debt by approximately $8.6 billion during the first six months of 2026 using divestiture proceeds and operational cash.
• Reduced pro-rata ownership in Western Midstream Partners following an acquisition made by that entity in the second quarter of 2026.
• Increased the quarterly dividend by 8% to $0.28 per share in Aug. 2026 to enhance shareholder returns.

Technical Edge and Integration

Occidental uses technical expertise in carbon dioxide and power to enable differentiated resource recovery from its oil and gas fields. The company maintains a portfolio that integrates traditional energy production with emerging carbon management and sequestration technologies.

The Financial Scorecard

• For the six months ended June 30, 2026, net sales hit $13.3 billion, up from $11.0 billion in the 2025 period.
• Net income attributable to common stockholders rose 468% to $5.98 billion for the six-month period ended June 30, 2026.
• Diluted earnings per share reached $5.89 for the first six months of 2026, up 472% year over year.
• Operating cash flow from continuing operations was $6.5 billion for the six months ended June 30, 2026.

Evolution and Efficiency

Occidental has transitioned into a more focused energy company by divesting its chemical arm and noncore assets. This strategy pairs traditional hydrocarbon production with a growing emphasis on carbon management solutions.