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OXY

Occidental Petroleum Corporation

OXY

Occidental Petroleum Corporation • NYSE
$41.99 ▲ 1.39% (+0.57)
Market Cap $41.37 B
52w High $53.20
52w Low $34.78
Dividend Yield 0.94%
P/E 30.88
Volume 4.11M
Outstanding Shares 985.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.624B ▲ $987M ▼ $830M ▲ 12.53% ▲ $0 ▼ $3.497B ▲
Q2-2025 $6.317B ▼ $1.05B ▲ $431M ▼ 6.823% ▼ $0.27 ▼ $2.95B ▼
Q1-2025 $6.91B ▼ $923M ▼ $931M ▲ 13.473% ▲ $0.808 ▲ $3.567B ▲
Q4-2024 $6.924B ▼ $1.052B ▲ $-125M ▼ -1.805% ▼ $-0.314 ▼ $2.135B ▼
Q3-2024 $7.087B $858M $1.128B 15.916% $1.034 $3.832B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.159B ▼ $83.472B ▼ $46.706B ▼ $36.261B ▲
Q2-2025 $2.326B ▼ $84.36B ▼ $48.184B ▼ $35.722B ▲
Q1-2025 $2.612B ▲ $84.967B ▼ $49.862B ▼ $34.712B ▲
Q4-2024 $2.132B ▲ $85.445B ▼ $50.965B ▲ $34.159B ▼
Q3-2024 $1.759B $85.803B $50.869B $34.674B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $661M ▲ $2.79B ▼ $-1.259B ▲ $-1.695B ▼ $-164M ▲ $1.022B ▲
Q2-2025 $468M ▼ $2.96B ▲ $-1.999B ▼ $-1.243B ▼ $-282M ▼ $962M ▲
Q1-2025 $945M ▲ $2.148B ▼ $-731M ▲ $-932M ▲ $485M ▲ $240M ▼
Q4-2024 $-125M ▼ $3.356B ▼ $-1.79B ▲ $-1.202B ▼ $364M ▲ $1.575B ▼
Q3-2024 $1.14B $3.682B $-9.119B $5.335B $-103M $2.023B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Chemical Segment
Chemical Segment
 $1.25Bn ▲$1.21Bn ▼$1.19Bn ▼$1.23Bn ▲
Midstream Segment
Midstream Segment
 $440.00M ▲$70.00M ▼$310.00M ▲$330.00M ▲
Oil And Gas Segment
Oil And Gas Segment
 $5.70Bn ▲$5.62Bn ▼$5.68Bn ▲$5.01Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Occidental’s income statement shows a classic commodity cycle story with a healthier company on the other side. Revenue surged in 2022 with very strong oil prices and has since stepped down, but remains well above the pandemic trough. Profitability has been positive for several years in a row after a very deep loss in 2020, though earnings are now at more “normal” levels rather than the exceptional highs of 2022. Overall, the business is clearly profitable again, but results remain sensitive to swings in oil and gas prices, which explains the large year‑to‑year moves in earnings per share.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully over the past five years. Debt has been worked down from very heavy levels following the Anadarko acquisition and the 2020 downturn, leaving leverage still material but far more manageable. Shareholders’ equity has been rebuilt as the company returned to consistent profitability, strengthening the financial cushion. Cash on hand is modest rather than abundant, so Occidental still depends on ongoing cash generation and credit markets, but the overall financial foundation is noticeably sturdier than it was earlier in the decade.

Cash Flow

Cash Flow Cash flow is a clear bright spot. Since 2021, Occidental has been generating strong cash from its operations, comfortably covering capital spending and leaving room for debt reduction and capital returns. Free cash flow was particularly strong in the high‑price years and remains solid even as prices and profits normalize. Capital spending has risen as the company invests in its core oil and gas assets and in new low‑carbon projects, so maintaining robust operating cash flow will be key to funding this growth without re‑leveraging the balance sheet too aggressively.

Competitive Edge

Competitive Edge Competitively, Occidental is a sizable, efficient producer with valuable positions in the Permian Basin and a differentiated chemicals business through OxyChem. Its long history with carbon dioxide‑based enhanced oil recovery gives it unique subsurface and CO2‑handling expertise, which supports both traditional production and its emerging carbon management activities. The company benefits from scale, integrated operations, and a mix of businesses that are not all tied directly to crude oil prices. At the same time, it faces intense competition from global majors and low‑cost shale peers, plus ongoing exposure to commodity cycles and shifting environmental and regulatory pressures.

Innovation and R&D

Innovation and R&D Occidental is trying to stand out in energy by becoming an early leader in carbon management rather than just a traditional oil and gas producer. Through its 1PointFive subsidiary and the STRATOS direct air capture project, it is betting heavily on technologies that pull carbon dioxide from the air and store it underground or use it in production. Acquisitions like Carbon Engineering and partnerships with large industrial and technology players aim to speed up development and create new revenue streams from carbon removal services and credits, as well as concepts like “net‑zero” oil. These initiatives could build a meaningful long‑term moat if they scale successfully, but they are still early, capital‑intensive, and dependent on policy support, customer adoption, and the ability to bring costs down over time.

Summary

Overall, Occidental looks like a company that has repaired its finances after a very difficult period and is now trying to reshape its future. The core oil and gas business is profitable and cash‑generative, with improving leverage and a stronger equity base, but remains tied to volatile commodity prices. At the same time, management is making a bold push into carbon capture and broader carbon management, using its CO2 and subsurface expertise to try to build a new, less price‑sensitive business line. The opportunity is significant, but so are the execution and technology risks, making Occidental’s story a blend of established upstream operations and higher‑uncertainty low‑carbon innovation that markets will likely continue to scrutinize closely.

NEWS

November 10, 2025 · 4:15 PM UTC

Occidental Announces Third Quarter 2025 Results

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November 5, 2025 · 2:00 PM UTC

Occidental Announces Dividend

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October 9, 2025 · 4:15 PM UTC

Occidental to Announce Third Quarter Results Monday, November 10, 2025; Hold Conference Call Tuesday, November 11, 2025

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October 2, 2025 · 7:07 AM UTC

Occidental Promotes Richard A. Jackson to Senior Vice President and Chief Operating Officer

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October 2, 2025 · 7:00 AM UTC

Berkshire Hathaway Inc. to Acquire OxyChem

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