Occidental Petroleum Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

Quarters: Occidental Petroleum Corporation's SEC filings, named by the month they end. Fiscal years: Occidental Petroleum Corporation's annual reports to the SEC.

How it makes money

Of every $100 in revenue, $7.5 ends up as net income. Net margin fell from 33.9% to 7.5% over the past 3 years.

Each margin is that line of the income statement divided by revenue. Fiscal year: Occidental Petroleum Corporation's annual reports to the SEC.

Customers and suppliers

In its latest annual report Occidental Petroleum buys from WES, Berkshire Hathaway, Glenn Springs Holdings; sells to WES.

Their suppliers

Ford Fto Berkshire Hathaway

General Motors GMto Berkshire Hathaway

Honda/Acura HMCto Berkshire Hathaway

Show 3

Suppliers

B

Berkshire Hathaway BRK-B

WES WES

G

Glenn Springs Holdings

 

OXYOccidental Petroleum

Customers

WES WES 53%

Partners

BlackRock BLKDevelop STRATOS direct air capture facility$500 million invested as of December 31, 2025; $550 million total commitment

WES WESOccidental Petroleum invested in it · Equity investment in midstream operations40.9% combined share of net income after February 2026 transfer

DDELOccidental Petroleum invested in it · Equity investment in natural gas pipeline24.5% ownership interest

NET Power NPWROccidental Petroleum invested in it · Equity investment in low-carbon gas power40.3% interest

Changes since the previous annual report (10-K filed Feb 18, 2025)

LLyra HealthNo longer named (was a supplier)

OOrbiaNo longer named (was a partner)

WES WESCustomer, share of revenue35% → 53%

NET Power NPWRPartner, share of ownership41.6% → 40.3%

BBerkshire Hathaway BRK-BNo longer a customer and a partner, still a supplier

Named in other companies’ filings

BBerkshire Hathaway BRK-Binvested in Occidental Petroleum · Common and preferred stock investments26.9% of outstanding common stock at December 31, 2025; approximately $8.5 billion preferred stock liquidation value at December 31, 2025Church & Dwight CHDjoint venture with it · Jointly owns potassium chemicals venture

Only the companies Occidental Petroleum names in its 10-K filed Feb 18, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Occidental Petroleum. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

P/E of 7.9x, below the peer median of 12.4x, with earnings still growing.

Priced 37% below the peer median of 12.4x.

At 7.9× trailing earnings OXY is below most of its range since Jan 2022; the median is 13.3×.

Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.

What analysts expect

The average analyst price target is $70.74, 21% above the current price; 43% of 28 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 12 analysts (43%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $49.57 to $72.67 (+47%), while OXY went from $42.02 to $58.40 (+39%). In the past three months targets were raised 10 times and cut once. 6 upgrades and 1 downgrade over the year; the latest: Goldman Sachs moved it to Buy from Neutral on Oct 1, 2026.

The day after each of these reports the stock moved +12.2% (Dec 2025, beat); −8.5% (Mar 2026, beat); +1.7% (Jun 2026, beat); +0.9% (Sep 2026, beat).

For the quarter ending Dec 2026, analysts expect adjusted earnings of $1.95 a share, and revenue of $7.5B, up 47% on a year earlier. For the fiscal year ending Dec 2027, they expect revenue of $26.3B, down 6% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $5.9B in free cash flow over the year, of which $1.9B went back to shareholders (dividends plus buybacks), leaving $4.0B in the company.

Occidental Petroleum had 1.01B diluted shares in the quarter ended Sep 2026, 1.0% more than a year earlier, and 1.6% more each year on average since Jun 2020. It spent $207M on buybacks over the last four quarters.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 0.9, short-term debt coverage is tight; debt-to-equity 0.6, debt is moderate.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 1 member of Congress and 5 funds whose copy leaves OXY out (not traded on the exchange): Berkshire Hathaway, Swiss National Bank, Canada Pension Plan Investment Board, Mirae Asset Global Investments, Rob Bresnahan, Fisher Asset Management.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 12 held OXY at the end of their latest quarter (for most, Q2 2026). Over that quarter 6 added shares, 4 cut, 1 sold all and 2 held the same. The largest of them is Berkshire Hathaway, 264.94M shares worth $12.9B at Jun 30, 2026.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of OXY at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end.

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