# Occidental Petroleum Corporation (OXY)

> Source: Nexqual · https://nexqual.com/OXY · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Occidental Petroleum Corporation (OXY), nexqual.com/OXY" · informational, not investment advice.

**Price:** USD 62.5 (-0.32% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 62.7 · day 61.28–63.56 · 52w 38.8–67.45 · market cap $62.5B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $22.0B, net income $7.31B (33.2% margin), free cash flow $4.79B (SEC filings).
- Valuation: P/E 8.5x (avg 15.0x at the last 3 fiscal year-ends), net debt $9.39B.
- 4 of 80 tracked superinvestors hold OXY (13F, Q2 2026): 0 new, 0 added, 1 reduced, 3 unchanged.
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $250K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.48 on a 1–5 scale) (27 analysts), mean target USD 70.54 (range 60–82).
- Total return with dividends: 1Y +48.7% vs S&P 500 +14.9%; 5Y +98.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 1.47, revenue estimate $6.85B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $26.0B | $36.6B | $23.2B | $22.7B | $21.6B | $22.0B |
| Gross profit | $23.2B | $33.4B | $20.1B | $19.6B | — | — |
| Net income | $2.32B | $13.3B | $4.70B | $3.08B | $2.37B | $7.31B |
| EPS (diluted) | $1.58 | $12.40 | $3.90 | $2.44 | $1.61 | — |
| Free cash flow | $7.56B | $12.3B | $6.61B | $5.18B | $4.11B | $4.79B |
| Gross margin | 89.3% | 91.1% | 86.6% | 86.3% | — | — |
| Net margin | 8.9% | 36.3% | 20.2% | 13.6% | 11.0% | 33.2% |
| Revenue growth | +45.8% | +41.1% | -36.6% | -2.2% | -4.9% | — |
| Cash + short-term investments | $2.76B | $984M | $1.43B | $2.13B | $1.97B | — |
| Total debt | $29.6B | $19.7B | $19.0B | $25.3B | $21.4B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.5x · P/S 2.8x · EV/Sales 3.3x · P/FCF 13.0x · P/B 1.5x · FCF yield 7.67% · Earnings yield 11.70% · Buyback yield (TTM) 0.19% · Net debt $9.39B · EV $71.9B
P/E at fiscal year-ends: Dec 2025 17.4x, Dec 2024 15.5x, Dec 2023 12.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold OXY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Francis Chou | Chou Associates | 7.02% | $15.2M | Unchanged |
| Warren Buffett | Berkshire Hathaway | 4.30% | $12.9B | Unchanged |
| Duan Yongping | H&H International Investment | 2.61% | $498M | Unchanged |
| Dodge & Cox Funds | Dodge & Cox | 1.85% | $3.53B | Reduced -1.8% |

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $250K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-23 | Jackson Richard A. | President and CEO | 4,770 | $250K | 52.38 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.48 on a 1–5 scale), 27 analysts; mean target USD 70.54 (low 60, high 82).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Susquehanna | Target raised | Positive | $70 → $77 |
| 2026-10-19 | Stephens & Co. | Target raised | Overweight | $78 → $80 |
| 2026-10-15 | Morgan Stanley | Target raised | Equal-Weight | $69 → $71 |
| 2026-10-15 | Truist Securities | Target raised | Hold | $63 → $64 |
| 2026-10-14 | UBS | Target raised | Neutral | $67 → $73 |
| 2026-10-01 | Goldman Sachs | Upgrade | Neutral → Buy | $63 → $69 |
| 2026-09-14 | UBS | Target raised | Neutral | $59 → $67 |
| 2026-09-14 | Wells Fargo | Target raised | Overweight | $79 → $82 |
| 2026-09-11 | Evercore ISI Group | Target raised | Outperform | $65 → $70 |
| 2026-09-03 | Seaport Global | Initiated | Buy | $73 |
| 2026-08-17 | Barclays | Target lowered | Overweight | $75 → $71 |
| 2026-08-11 | Susquehanna | Target raised | Positive | $67 → $70 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +48.7% | +98.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +48.9% | +14.6% |
| Volatility (annualized) | 34.8% | 37.9% |
| Max drawdown | -27.3% (Mar 2026→Jul 2026) | -47.5% (Nov 2022→Apr 2025) |

## Peers (Oil & Gas E&P)
FANG (Diamondback Energy, Inc.) USD 197.14 -1.89% · DVN (Devon Energy Corporation) USD 49.18 -1.38% · EOG (EOG Resources, Inc.) USD 157.96 +0.05% · CNQ (Canadian Natural Resources Limi) USD 53.92 -0.59% · EQT (EQT Corporation) USD 54.67 +1.11% · TPL (Texas Pacific Land Corporation) USD 333.67 -3.09%

## More
Full page: https://nexqual.com/OXY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Oil and gas | $6.78B | 96.1% | +35.3% |
| Midstream and marketing | $419.0M | 5.9% | +42.0% |
| Total revenue | $7.05B | 100% | — |
The lines above cover 102% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Oil Reserves | $6.29B | 89.2% | +51.7% |
| Natural Gas Liquids Reserves | $681.0M | 9.7% | +25.4% |
| Total revenue | $7.05B | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $5.89B | 83.5% | +37.6% |
| International | $1.31B | 18.6% | +27.6% |
| Total revenue | $7.05B | 100% | — |
The lines above cover 102% of total revenue.

## Company outlook (8-K filed 2026-10-13)

- "Factors impacting third quarter 2026 results include: Total company production for the third quarter of 2026 is within Occidental's guidance range and includes the temporary Gulf of America downtime described below. • In September, Occidental temporarily curtailed production at certain Gulf of America facilities due to a third-party gas pipeline constraint and maintenance activities."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.47 | $1.24 | +17.9% | $6.85B | 22 |
| Next quarter (ends 2026-12-31) | $1.96 | $1.17 | +66.8% | $7.56B | 22 |
| Current fiscal year (ends 2026-12-31) | $6.93 | $5.49 | +26.2% | $27.86B | 24 |
| Next fiscal year (ends 2027-12-31) | $5.01 | $3.96 | +26.6% | $26.14B | 25 |