Occidental Petroleum Corporation's Stock Analysis

Occidental Petroleum Reports Third Quarter Financial Results

Occidental Petroleum announced its financial results for the third quarter of 2025, reporting a net income of $661 million, or $0.65 per diluted share. The company achieved operating cash flow of $2.8 billion and free cash flow before working capital of $1.5 billion, with total production exceeding guidance at 1,465 thousand barrels of oil equivalent per day. The oil and gas segment contributed pre-tax income of $1.3 billion, driven by higher crude oil volumes and prices, while average realized prices for crude oil increased to $64.78 per barrel.

The company also reported a decrease in pre-tax income for its chemical subsidiary, OxyChem, to $197 million, attributed to lower realized prices and volumes. Occidental repaid $1.3 billion of debt in the quarter, reducing its principal debt balance to $20.8 billion. The midstream and marketing segment exceeded income guidance, contributing $93 million in pre-tax income, despite some challenges in gas spreads and increased expenses related to low-carbon ventures.

Nov 10, 2025 16:15:35

Occidental Petroleum Outlines Third Quarter 2025 Earnings Factors

Occidental Petroleum Corporation has outlined key factors that may influence its financial results for the third quarter of 2025. The average diluted shares outstanding for this period are reported at 1,003.1 million. The company has provided a summary of earnings considerations, which includes various industry and operational factors, but this summary is not a comprehensive estimate of earnings for the quarter.

The report highlights potential risks and uncertainties that could impact Occidental's performance, including economic conditions, debt obligations, commodity pricing fluctuations, and regulatory challenges. Additionally, the company notes the importance of its ability to manage costs, complete projects, and navigate market dynamics, particularly in relation to its ongoing business strategies and asset management, including the proposed sale of its chemical business to Berkshire Hathaway Inc.

Oct 10, 2025 07:15:55

Occidental Petroleum Promotes Richard A. Jackson to COO

Occidental Petroleum has promoted Richard A. Jackson to Chief Operating Officer, effective October 1, 2025. Jackson, who has been with the company since 2003, previously served as Senior Vice President and President of U.S. Onshore Resources and Carbon Management. His extensive experience in the oil and gas industry spans over 25 years, and he will oversee global operations, low-carbon technologies, and midstream and marketing functions as COO. His new base salary is set at $925,000 annually, with an additional target cash incentive of $925,000 for 2025, and a grant of restricted stock units valued at $1.5 million, vesting over three years.

The announcement of Jackson's promotion reflects Occidental's strategic focus on enhancing shareholder value through operational and technological leadership. The company is recognized as one of the largest oil and gas producers in the U.S., particularly in the Permian and DJ basins, and has a commitment to advancing low-carbon technologies through its subsidiary, Oxy Low Carbon Ventures. This leadership change may influence investor sentiment as it aligns with the company’s goals of improving operational efficiency and reducing emissions.

Oct 03, 2025 16:39:54

Occidental Petroleum to Sell Chemical Business for $9.7 Billion

Occidental Petroleum's subsidiaries, Occidental Chemical Holding, LLC and Environmental Resource Holdings, LLC, have entered into a purchase agreement with Berkshire Hathaway Inc. for the sale of Occidental Chemical Corporation, which encompasses Occidental's chemical operations, for $9.7 billion in cash. This transaction is subject to standard adjustments related to cash, indebtedness, and working capital, and includes various representations and warranties from both parties. The agreement outlines covenants for Occidental to operate OxyChem in the ordinary course and to obtain necessary regulatory approvals prior to closing.

The completion of the transaction is contingent on several conditions, including regulatory approvals and the accuracy of representations made by both parties. Occidental will also enter into additional agreements regarding transition services and environmental liabilities associated with OxyChem. The purchase agreement allows for termination under specific circumstances, including a failure to close by March 30, 2026, with potential extensions if regulatory conditions are not met. This sale is a significant move for Occidental as it continues to reshape its business portfolio.

Oct 03, 2025 16:23:12

Berkshire Hathaway to Acquire Occidental's Chemical Business for $9.7 Billion

Occidental Petroleum has entered into a definitive agreement with Berkshire Hathaway for the sale of its chemical subsidiary, Occidental Chemical Corporation (OxyChem), in an all-cash transaction valued at $9.7 billion. This deal is subject to customary purchase price adjustments and regulatory approvals and is expected to close in the fourth quarter of 2025. Occidental plans to utilize approximately $6.5 billion of the proceeds to reduce its debt, aiming to bring its principal debt below $15 billion.

OxyChem is recognized as a global manufacturer of essential chemicals used across various sectors, including water treatment and pharmaceuticals. The transaction is anticipated to reinforce Occidental's financial stability and support its ongoing operations. Occidental has committed to retaining the legacy environmental liabilities associated with OxyChem, while the management of existing remedial projects will continue under a subsidiary. This strategic move is part of Occidental's broader efforts to streamline its operations and focus on its core energy business.

Oct 02, 2025 07:13:24

Occidental Petroleum Reports Q2 2025 Financial Results

In terms of segment performance, oil and gas pre-tax income was $934 million, impacted by lower commodity prices but partially offset by increased crude oil volumes and reduced operating expenses. The average realized prices for crude oil decreased by 10%, while natural gas prices saw a significant drop of 45%. The chemical segment, OxyChem, reported pre-tax income of $213 million, remaining stable compared to the previous quarter. Additionally, Occidental is reducing its capital guidance by $100 million and international operating costs by $50 million, reflecting ongoing operational efficiencies.

Aug 06, 2025 16:17:25

Occidental Petroleum Files Prospectus for Outstanding Warrants

Occidental Petroleum Corporation has filed a prospectus supplement related to its existing shelf registration statement for shares of its common stock. This pertains to the 31,990,880 outstanding publicly traded warrants issued on August 3, 2020, which allow holders to purchase common stock at a set price.

The prospectus supplement was filed on July 28, 2025, and includes a validity opinion regarding the common stock that can be issued upon exercising these warrants. This filing may impact the company's stock price as it clarifies the terms under which investors can convert their warrants into shares.

Jul 28, 2025 17:20:06

Occidental Petroleum Completes $12.4 Billion Acquisition of CrownRock

Occidental Petroleum Corporation has completed the acquisition of CrownRock, L.P. for approximately $12.4 billion. This total includes about $9.4 billion in cash, the issuance of approximately 29.6 million shares of common stock, and the assumption of $1.2 billion in CrownRock's existing debt. Concurrent with the acquisition, Occidental issued around $9.7 billion in new debt. Updated pro forma financial statements have been prepared to reflect this acquisition and provide insight into the combined financial position for the year ending December 31, 2024.

The unaudited pro forma condensed combined financial statements include adjustments for interest and debt expenses related to the new indebtedness, as well as changes in depreciation and income tax effects. The pro forma statements are intended for illustrative purposes and do not represent actual results that would have occurred had the acquisition been completed on January 1, 2024. Investors should consider these financial adjustments and the implications of the acquisition when evaluating Occidental's future performance.

Jul 28, 2025 16:14:15

Occidental Petroleum Reports Production Curtailed in Q2 2025

Occidental Petroleum has reported that its Gulf of America assets faced production curtailments due to third-party constraints, extended maintenance, and schedule delays. As a result, the company estimates sales volumes for the second quarter of 2025 to be approximately 125 thousand barrels of oil equivalent per day (Mboed). Despite these challenges, total company production is expected to remain within the previously provided guidance range for the quarter.

Additionally, Occidental anticipates an adjusted effective tax rate of 35-37% for the second quarter, influenced by a shift in the jurisdictional mix of income and lower expected full-year oil prices. The average diluted shares outstanding for this period are reported to be 1,010.4 million shares. The company emphasizes that these estimates may not capture all adjustments and are subject to finalization in the financial reporting process.

Jul 14, 2025 07:00:38

Occidental Reports $766 Million Net Income in Q1 2025

Occidental Petroleum Corporation announced its first-quarter results for 2025, reporting a net income of $766 million, or $0.77 per diluted share. Adjusted earnings were $860 million, or $0.87 per diluted share. The company achieved an operating cash flow of $2.1 billion, with free cash flow before working capital at $1.2 billion. Occidental also completed asset sales totaling $1.3 billion and repaid $2.3 billion in debt during the year. Production levels were in line with guidance, averaging 1,391 thousand barrels of oil equivalent per day.

In its operational segments, Occidental's oil and gas pre-tax income rose to $1.7 billion, benefiting from higher domestic realized commodity prices despite lower sales volumes. The chemical segment, OxyChem, reported pre-tax income exceeding guidance by $15 million. The company announced a reduction in its 2025 capital guidance by $200 million and domestic operating costs by $150 million, reflecting ongoing operational efficiencies. Overall, the results indicate a solid performance across various segments, which may be of interest to investors.

May 07, 2025 16:15:03