Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; and vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Occidental Petroleum Corporation

Occidental Petroleum Corporation’s OXY shares have gained 7.9% in the past three months compared with the Zacks Oil and Gas-Integrated-United States industry’s rally of 6%.
The company operates in a very competitive industry, but Occidental’s strong presence in the prolific Permian Basin works to its advantage.
Occidental has outperformed its sector and Zacks S&P 500 Composite’s return in the past three months. Occidental has outperformed some other operators in this space. In the same period, other operators in the same space, like Cactus WHD and DT Midstream DTM.
Price Performance (Three months)
Image Source: Zacks Investment Research
Should you consider adding OXY stock to your portfolio only based on positive price movements? Let’s delve deeper and find out the factors that can help investors decide whether it is a good entry point to add OXY stock to their portfolio.
Major Catalysts Supporting Occidental’s Outlook
Occidental boasts one of the strongest domestic asset portfolios in the U.S. energy sector. Its extensive position in the Permian Basin, the most prolific oil-producing region in North America offers a reliable base of high-quality, low-cost output. Complementary assets in the Rockies, Gulf of America, and other regions further enhance production capacity.
These domestic holdings provide steady cash flows, ensuring operational resilience and underpinning consistent shareholder returns, even during periods of commodity price volatility. Permian Basin is expected to contribute in the range of 768-784 thousand barrels of oil equivalents per day (“Mboed”) in 2025.
Occidental Petroleum’s exploration efforts continue to expand its oil and gas reserves, strengthening the foundation for long-term production growth and value creation. With global energy demand remaining resilient due to economic and population expansion, the company’s growing resource base secures sustained output capacity while reinforcing its competitive advantage in the upstream sector. Occidental ended 2024 with a proved reserve of 4.6 billion barrels of oil equivalent (BOE) compared with 3.98 billion BOE at the end of 2023. The increase was primarily due to the addition of new domestic oil, gas and NGL reserves.
Occidental’s international assets play a pivotal role in driving its growth and resilience. International assets, such as Qatar’s Dolphin gas project, Oman’s Mukhaizna oilfields and the UAE’s Al Hosn Gas, contribute significantly to production and cash flow. Occidental expects its international operation to contribute in the range of 233-MBoed in 2025 to total production.
A key focus for Occidental is strengthening its balance sheet and lowering capital servicing expenses. In the last 13 months, the company has lowered its debt by $7.5 billion. which lowered its annual interest expenses by $410 million. OXY has decided to divest more non-core assets in 2025 and utilize the proceeds to reduce its outstanding debts.
Headwinds for Occidental Stock
Occidental’s operating results are influenced by shifts in demand and the volatility of both global and local commodity prices. As of Dec. 31, 2024, the company had no active commodity hedges in place, leaving it fully exposed to market fluctuations. A significant decline in commodity prices from current levels could adversely affect OXY’s financial performance.
OXY Stock’s Earnings Surprise History
Due to the stable performance, the company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.72%.
Image Source: Zacks Investment Research
Cactus surpassed earnings estimates in two out of the last four reported quarters and missed expectations in the other two, resulting in an average surprise of 1.71%.
Occidental’s ROE Lower Than the Industry
Return on equity (“ROE”) is a key indicator of a company’s financial performance. It reflects how effectively a corporation uses shareholders' equity to generate profits and is widely regarded as a measure of profitability and operational efficiency. Occidental’s ROE is lower than the industry average in the trailing 12 months. ROE of OXY was 13.78% compared with the industry average of 14.57%.
Image Source: Zacks Investment Research
DT Midstream’s trailing 12-month ROE is 8.48%, which is lower than its industry.
OXY’s Shares Are Trading at a Premium
Occidental’s shares are currently expensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) being 5.35X compared with its industry average of 4.6X.
Image Source: Zacks Investment Research
Summing Up
Occidental’s focus on debt reduction, combined with the strength of its domestic and international operations, is expected to support its overall performance.
However, the company continues to face headwinds from volatile commodity prices and returns that remain below industry averages.
Despite these challenges, holding this Zacks Rank #3 (Hold) stock remains advisable due to its robust U.S. operations and rising high-quality reserves.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

OXY Stock Outperforms Industry in Three Months: Time to Buy?

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Darling Ingredients Inc (Symbol: DAR), where a total volume of 10,564 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 49.1% of DAR's average daily trading volume over the past month, of 2.2 million shares. Especially high volume was seen for the $37.50 strike call option expiring September 19, 2025, with 4,150 contracts trading so far today, representing approximately 415,000 underlying shares of DAR. Below is a chart showing DAR's trailing twelve month trading history, with the $37.50 strike highlighted in orange:
Super Micro Computer Inc (Symbol: SMCI) options are showing a volume of 205,349 contracts thus far today. That number of contracts represents approximately 20.5 million underlying shares, working out to a sizeable 48.2% of SMCI's average daily trading volume over the past month, of 42.6 million shares. Particularly high volume was seen for the $45 strike call option expiring August 29, 2025, with 18,558 contracts trading so far today, representing approximately 1.9 million underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $45 strike highlighted in orange:
And Occidental Petroleum Corp (Symbol: OXY) saw options trading volume of 47,418 contracts, representing approximately 4.7 million underlying shares or approximately 48.1% of OXY's average daily trading volume over the past month, of 9.9 million shares. Especially high volume was seen for the $38 strike put option expiring September 19, 2025, with 8,504 contracts trading so far today, representing approximately 850,400 underlying shares of OXY. Below is a chart showing OXY's trailing twelve month trading history, with the $38 strike highlighted in orange:
For the various different available expirations for DAR options, SMCI options, or OXY options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Thursday Option Activity: DAR, SMCI, OXY

UnitedHealth Group UNH stock is still down 40% year to date but has surged more than +20% this month following reports that Warren Buffett’s Berkshire Hathaway BRK.B and other billionaire hedge fund managers have taken a stake in the company, including David Tepper’s Appaloosa Management.
In a classic value investing move, Buffett undoubtedly sees long-term value in UnitedHealth Group as a high-quality business at a steep discount, investing in other industry leaders during a crisis like Goldman Sachs GS during the 2008 financial meltdown and more recently Occidental Petroleum OXY during the Covid-19 pandemic plunge in energy prices.
To that point, UnitedHealth has faced a DOJ investigation stemming from its health services and technology subsidiary Optum, and had previously suspended its full-year financial guidance due to unexpectedly high medical costs.
Considering such, investors may be weighing the pros and cons of investing in UNH, with some wondering if it’s time to fade the recent rally.
UnitedHealth’s Attractive Valuation & Balance Sheet
As the parent company of United Healthcare, the nation's largest insurer, UnitedHealth Group stock had recently fallen toward its decade low in terms of price to forward earnings and is still on par with its 10-year foward P/E median of 18X.
Image Source: Zacks Investment Research
Furthermore, UNH trades at less than 1X sales and has the scale, diversification, and cash flow that are likely attracting Buffett and other large investors to believe in its long-term recovery. Notably, UnitedHealth Group has more than $32 billion in cash and equivalents on hand and over $308 billion in total assets compared to $208.1 billion in total liabilities.
Image Source: Zacks Investment Research
UNH EPS Revisions
Despite reinstating its guidance, UnitedHealth Group now expects full-year fiscal 2025 EPS to be considerably lower at a least $16 per share, with the Zacks Consensus currently at $16.58 and falling 25% over the last 60 days from expectations of $22.28.
While the drop in FY25 EPS estimates was expected, what may be more concerning to investors is that FY26 EPS estimates have dropped nearly 30% in the last two months from projections of $25.58 to $18.08.
Image Source: Zacks Investment Research
Conclusion & Final Thoughts
The institutional pile into UnitedHealth Group stock may have set a psychological floor for investors, but the trend of declining EPS revisions does take away from the company's enticing valuation and suggests there could still be much better buying opportunities ahead. Correlating with such, it may be time to fade the recent rally, with UNH landing a Zacks Rank #5 (Strong Sell) at the moment.
For investors who may be interested in limiting the short-term risk associated with the recent volatility in UnitedHealth Group stock, Zacks analyst Sanghamitra Saha has alluded to the notion that the iShares U.S. Healthcare Providers ETF IHF could be a better way to get exposure to UNH.
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Buy, Hold, or Fade the Recent Rally in UnitedHealth Group (UNH) Stock?

Occidental Petroleum Corporation OXY holds one of the strongest domestic asset portfolios in the U.S. energy sector. Its significant presence in the Permian Basin, the most prolific oil-producing region in North America, provides the company with a steady foundation of high-quality, low-cost production. These assets enable OXY to generate consistent cash flows, even amid commodity price volatility, supporting both operational stability and shareholder returns.
The company’s dominant position in the Permian gives it access to large, contiguous acreage with substantial resource potential. Occidental’s asset in the Rockies and Other regions, and the Gulf of America continues to support its total production volumes.
Occidental’s ability to develop and optimize these domestic assets translates into strong production growth and enhances resilience against market downturns. Such advantages make the company well-positioned to remain competitive in the domestic and global energy space.
Beyond crude oil, Occidental’s domestic assets also support its natural gas and natural gas liquids (“NGL”) production, diversifying its revenue streams. This balanced portfolio strengthens its role in meeting U.S. energy demand while ensuring cash flow stability.
Occidental’s U.S.-based assets are also advancing large-scale carbon capture and storage initiatives in the same regions where it produces oil and gas. This reinforces the long-term value of its domestic footprint. By integrating conventional energy production with low-carbon solutions, Occidental’s high-profile U.S. assets serve as both a growth engine and a strategic lever for sustainability.
Domestic Assets Boost Prospects of Oil and Gas Companies
Domestic assets provide oil and gas companies with reliable production, reduced transportation expenses and stronger operational control. It improves supply security, limits exposure to geopolitical uncertainties and enables efficient infrastructure investments, fostering sustainable growth and long-term industry resilience.
Companies like ExxonMobil XOM and Devon Energy DVN significantly benefit from their domestic assets. ExxonMobil’s strong position in the Permian Basin supports efficient production and cost advantages. Devon gains substantially from the domestic oil and gas assets, particularly its core position in the Delaware Basin. Both companies gain operational stability, supply security and long-term growth opportunities through their high-quality domestic portfolios.
OXY’s Price Performance
Occidental’s shares have gained 3.7% in the last three months compared with the Zacks Oil and Gas-Integrated-United States industry’s rise of 2.2%.
Price Performance (Three months)
Image Source: Zacks Investment Research
OXY Stock’s Earnings Surprise History
Due to the stable performance, the company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.72%.
Image Source: Zacks Investment Research
Occidental’s ROE Lower Than the Industry
Occidental’s return on equity ("ROE") is lower than the industry average in the trailing 12 months. ROE of OXY was 13.78% compared with the industry average of 14.57%.
Image Source: Zacks Investment Research
OXY’s Zacks Rank
Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.
Investors who bought shares like Nvidia at the right time have had a shot at huge gains.
But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.
Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.
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Can Domestic Assets Continue to Drive Long-Term Growth for Occidental?

Key Points
Energy Transfer offers both a high yield and a strong pipeline of growth projects.
Enterprise is one of the most consistent pipeline stocks around.
Western Midstream has a huge yield and a growing produced water opportunity.
Pipeline operators with strong cash flow, steady growth projects, and well-covered payouts can be the backbone of an income portfolio. Let's look at three master limited partnerships (MLPs) that offer ultra-high yields, dependable operations, and steady growth. To begin investing in these names, $1,000 is a great starting point. But these have the type of steady operations that you can also feel free to dollar-cost average into over time.
Energy Transfer -- 7.6% Yield
Energy Transfer (NYSE: ET) is entering its next phase of growth with plenty of projects in its pipeline. The company recently announced the $5.3 billion Desert Southwest pipeline, a project that will transport natural gas coming from the Permian Basin to the Arizona and New Mexico markets. Backed by long-term contracts, it will be part of Energy Transfer's expanding Transwestern network and is expected to be online by late 2029. That's on top of its multiphase Hugh Brinson Pipeline, which will help serve power plants and data centers in Texas.
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The company is also making progress on its long-awaited Lake Charles LNG export project, having now partnered with MidOcean Energy and secured several offtake deals. It is still looking for more equity partners before it green-lights the project, but it's getting close. With about $5 billion in growth capital expenditures (capex) this year -- half aimed at natural gas projects -- Energy Transfer is positioning itself to capture growing demand from both LNG (liquified natural gas) exports and energy-hungry data centers.
Meanwhile, its financial foundation is solid. Leverage is at the low end of its targeted range, and it had a robust distribution coverage ratio of 1.7x last quarter based on its distributable cash flow (operating cash flow minus maintenance). Management has raised the distribution for 15 straight quarters, including a recent 3% increase, and expects 3% to 5% annual growth moving forward. With nearly 90% of 2025 earnings before interest, taxes, depreciation, and amortization (EBITDA) from fee-based contracts, this is a steady income generator with big growth optionality.
Enterprise Products Partners -- 7% Yield
Enterprise Products Partners (NYSE: EPD) is the definition of a reliable income stock. The company has increased its distribution for 26 consecutive years while having a strong coverage ratio and keeping leverage in check. About 80% of cash flow comes from fee-based contracts, many with take-or-pay provisions and inflation escalators, ensuring stability in any energy environment.
Enterprise is conservatively run, with leverage just over 3x and debt locked in for an average of 18 years at only 4.7%. It self-funds most of its growth, avoiding the need for constant equity issuance. Meanwhile, it had a robust distribution coverage ratio of 1.6x in the second quarter.
The company is also seeing strong growth opportunities. It will spend between $4 billion and $4.5 billion in growth capex this year, which is a significant jump from the $1.6 billion it spent in 2022. With most of its growth projects set to come online this year or next, Enterprise should start to see accelerating growth next year. Overall, Enterprise offers solid income, stability, and a clear runway for growth.
Western Midstream -- 9.5% Yield
Western Midstream (NYSE: WES) delivers the highest yield of the group, but its payout is anchored by steady cash flows and disciplined management. The company is backed by parent Occidental Petroleum, which owns over 40% of the partnership. Western Midstream benefits from a strategic alignment with its parent company, as its contracts with Occidental are heavily tied to cost-of-service and minimum volume commitments (MVCs). This gives it a highly visible cash-flow stream.
The company is also starting to ramp up growth, with a focus on expanding its produced water business. Its two largest projects are the Pathfinder produced water system, which will handle over 800,000 barrels per day when it comes online in 2027, and the expansion of its North Loving natural gas processing plant.
Western Midstream also recently agreed to acquire Aris Water Solutions (NYSE: ARIS) in a $2 billion deal. The acquisition is expected to be immediately accretive and brings with it over 625,000 acres of dedications, significant MVCs, and an expected $40 million in cost synergies.
Financially, Western Midstream is in solid shape with 2.9x leverage. Management plans to keep leverage at around 3x, even as it increases growth spending, while maintaining mid-single-digit distribution growth over the long term. However, it is looking to grow its profitability more quickly than its distribution to help bolster its distribution coverage ratio.
Western Midstream combines strong assets, clear growth drivers, a disciplined capital allocation strategy, and, most of all, a very robust yield that is sure to make any income-oriented investor happy.
Should you invest $1,000 in Energy Transfer right now?
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Geoffrey Seiler has positions in Energy Transfer, Enterprise Products Partners, and Western Midstream Partners. The Motley Fool recommends Enterprise Products Partners and Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Ultra-High-Yield Pipeline Stocks to Buy With $1,000 and Hold Forever

Key Points
Legendary investor Warren Buffett is stepping down as Berkshire Hathaway CEO at the end of 2025.
Berkshire is down by 11% since Buffett’s surprise announcement.
Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) reached an all-time high in early May. Then, Warren Buffett shocked the investing world at Berkshire's annual meeting by announcing his intention to step down from the CEO role at the end of the year.
Since his announcement, Berkshire stock is down by about 11%. Is this a justified decline because the "Buffett premium" is going away, or does this represent an opportunity to buy shares at a discount? Here's what you need to know.
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Not much is changing
First of all, Warren Buffett will turn 95 years old on Aug. 30. Is it really that much of a surprise that he isn't going to be running Berkshire for much longer? It just seems far-fetched that the market was pricing in a more than 10% premium on the hopes Buffett would continue to defy the odds and work into his late 90s. And to be honest, I feel that there's value in an orderly succession plan like this, as opposed to expecting Buffett to simply stay at the reins until he can't do it anymore.
It's also important to point out that on Jan. 1, 2026, the first day Buffett won't be CEO, not much is going to change from a day-to-day perspective. Berkshire's 60-plus subsidiary businesses largely operate with little or no oversight already. Greg Abel, who will take over as CEO, already oversees all non-insurance operations, and Ajit Jain is Berkshire's insurance head.
The biggest immediate changes will be that different people will be in control of the company's stock portfolio, and Abel will have power over Berkshire's $344 billion cash hoard. However, portfolio managers Ted Weschler and Todd Combs have been managing more of Berkshire's investments as the years have progressed.
If anything, Berkshire should be worth more now
From a business perspective, it's tough to make the argument that Berkshire's intrinsic value is lower than it was on May 1 before Buffett made his announcement.
There are three major components of Berkshire Hathaway's business -- the cash stockpile, the operating businesses, and the stock portfolio.
First, the cash is about $3 billion lower than it was at the end of the first quarter, but that represents about 0.3% of Berkshire's market value. And in the second quarter earnings report, there was no cause for concern about the operating businesses -- in fact, everything besides insurance underwriting profits (which are lumpy over time) grew nicely.
That leaves the stock portfolio. Consider Berkshire's top stock positions and how they've performed in the months since Buffett's announcement:
Company (Ticker Symbol)
Total Return Since May 1
These are all of Berkshire's stock positions with a market value of $10 billion or more and represent nearly three-fourths of the entire stock portfolio. And the average return from this group is positive-12% since Buffett announced his retirement. It's fair to say that since Buffett made his announcement, the stock portfolio has gained tens of billions of dollars in market value.
The bottom line
To be completely fair, there's an argument to be made against buying Berkshire. For one thing, management didn't buy back any shares in the second quarter, despite the plunge after Buffett's announcement, which could suggest leadership still thinks the stock isn't a compelling value.
Plus, Berkshire's operating businesses aren't bad, but they aren't exactly industry standouts in many cases. For example, GEICO recently lost its No. 2 auto insurance market share to Progressive (NYSE: PGR), and Berkshire's management has acknowledged it has fallen behind when it comes to technology.
Having said that, Berkshire is still designed to be an incredible long-term compounding machine, and a new person in the CEO office, who has essentially been Buffett's understudy for years, doesn't change that. Berkshire is already one of my largest investments, and has been for some time, but I'm likely to add shares if this price level persists.
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American Express is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Matt Frankel has positions in American Express, Bank of America, and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Chevron, Moody's, and Progressive. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should You Buy Berkshire Hathaway Stock, Even Though It's Down 10% Since Warren Buffett Announced He's Retiring as CEO?

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in ConocoPhillips (Symbol: COP), where a total of 109,002 contracts have traded so far, representing approximately 10.9 million underlying shares. That amounts to about 164.8% of COP's average daily trading volume over the past month of 6.6 million shares. Particularly high volume was seen for the $90 strike put option expiring August 15, 2025, with 55,776 contracts trading so far today, representing approximately 5.6 million underlying shares of COP. Below is a chart showing COP's trailing twelve month trading history, with the $90 strike highlighted in orange:
Occidental Petroleum Corp (Symbol: OXY) saw options trading volume of 88,989 contracts, representing approximately 8.9 million underlying shares or approximately 87.7% of OXY's average daily trading volume over the past month, of 10.1 million shares. Particularly high volume was seen for the $40 strike put option expiring September 19, 2025, with 28,008 contracts trading so far today, representing approximately 2.8 million underlying shares of OXY. Below is a chart showing OXY's trailing twelve month trading history, with the $40 strike highlighted in orange:
And Broadcom Inc (Symbol: AVGO) saw options trading volume of 92,860 contracts, representing approximately 9.3 million underlying shares or approximately 54.4% of AVGO's average daily trading volume over the past month, of 17.1 million shares. Particularly high volume was seen for the $315 strike call option expiring August 15, 2025, with 9,396 contracts trading so far today, representing approximately 939,600 underlying shares of AVGO. Below is a chart showing AVGO's trailing twelve month trading history, with the $315 strike highlighted in orange:
For the various different available expirations for COP options, OXY options, or AVGO options, visit StockOptionsChannel.com.
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TLSI shares outstanding history
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Thursday Option Activity: COP, OXY, AVGO

Key Points
Occidental Petroleum made a huge splash when it outbid Chevron to buy Anadarko Petroleum.
Oxy's business hit a rough patch shortly after the Anadarko deal, but it has a more clear direction now.
The energy company isn't as big as some of its peers, but it is working hard to bulk up.
The name Occidental Petroleum (NYSE: OXY) gets more attention than it used to, thanks to the involvement of Warren Buffett and Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), the company Buffett runs. Given the Oracle of Omaha's fame as an investor, some might buy Occidental Petroleum for this fact alone.
But you'll probably want to get a bit more of an understanding here, because Buffett also owns Chevron (NYSE: CVX), a far larger energy company. There's a lot to unpack.
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Why did Buffett get involved in Occidental Petroleum?
Occidental Petroleum has a market cap of around $40 billion, which makes it a large company but a relatively small energy business. To put some perspective on that, ExxonMobil is an industry giant and has a market cap of roughly $450 billion. Chevron, for reference, has a market cap of around $300 billion.
Why does size matter here? Because all three energy companies use the same basic business model. They are what are known as integrated energy companies, with operations that span from the upstream (energy production), through the midstream (pipelines), and all the way to the downstream (chemicals and refining). They are, therefore, competitors, with Oxy, as it is more commonly known, the small fry.
But Oxy managed to punch above its weight in 2019 when it bought Anadarko out from under Chevron. That's when Buffett and Berkshire Hathaway got involved, helping to finance Oxy's winning bid for Anadarko. It was a huge sign that Oxy isn't happy living in the shadows -- it wants to grow so it can better compete with the energy sector's largest players. The growth opportunity here is why you buy Oxy.
The problem with Occidental Petroleum
There are some important nuances here, though. For example, the purchase of Anadarko left Oxy's balance sheet in a weakened state. When oil prices crashed during the coronavirus pandemic in 2020, the company was forced to cut its dividend.
However, Oxy has worked hard to strengthen its financial position. And it has already gotten back on the growth via acquisition track.
That said, this growth-oriented energy company has a somewhat modest dividend yield of 2.2%. Exxon's yield is 3.7%, while Chevron's yield is 4.4%. Clearly, if you are buying Oxy, you are buying for the growth, not the income.
Which brings up an interesting twist: Buffett owns Oxy, but he also owns Chevron. So if you want to invest like Buffett, you could literally buy either one.
Compared to Oxy, Chevron is a slow and steady tortoise, noting that the company has increased its dividend annually for 38 consecutive years. While Chevron offers income, size, and stability, it doesn't offer the same growth prospects. Sure, Chevron will buy other companies, noting it recently acquired Hess. But the vast scale of its operations means such deals won't likely have the same growth impact on its business as will Oxy's acquisitions.
Right now, geopolitical events have left energy prices in a state of flux. Over the past year, Chevron's stock has fallen around 5%. Oxy's shares are down over 20%!
Given the difference in the sizes of these two integrated energy businesses and Oxy's focus on growth, this disparate performance isn't really shocking. Oxy is a riskier energy stock, and Wall Street is treating the shares appropriately in an uncertain period for energy prices.
Oxy could be a buy, for the right investor
Buffett, however, hasn't given up on Oxy. That is a huge vote of support, noting that the Oracle of Omaha likes to hold companies for the long term so he can benefit from the growth of a business over time.
Oxy probably won't appeal to conservative investors or those with an income focus (Chevron would be the better choice). However, if you lean into growth, this dip could be an interesting opportunity to invest alongside Warren Buffett and Berkshire Hathaway while Oxy's stock is trading hands more cheaply.
Should you invest $1,000 in Occidental Petroleum right now?
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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway and Chevron. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is Occidental Petroleum a Buy on the Dip?

Occidental Petroleum Corporation OXY is expected to report a year-over-year decline in its top and bottom lines when it reports second-quarter 2025 results on Aug. 6, after market close.
The Zacks Consensus Estimate for OXY’s second-quarter revenues is pegged at $6.48 billion, indicating a decline of 5.83% from the year-ago reported figure.
The Zacks Consensus Estimate for earnings is pegged at 28 cents per share. The Zacks Consensus Estimate for OXY’s second-quarter earnings indicates a decline of 72.82% from the year-ago reported figure.
Image Source: Zacks Investment Research
Earnings Surprise History
OXY’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 24.34%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our model does not predict a likely earnings beat for OXY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.
Occidental Petroleum Corporation Price and EPS Surprise
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: OXY has an Earnings ESP of -3.84%.
Zacks Rank: Occidental Petroleum currently carries a Zacks Rank #3.
Stocks to Consider This Season
Here are some stocks in the same sector that have the combination of factors indicating an earnings beat this season.
ARRAY Technologies, Inc. ARRY is expected to beat second-quarter earnings estimates when it reports results on Aug. 7, 2025. The company currently has an Earnings ESP of +76.19% and a a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term (three to five years) earnings growth of the company is pegged at 21.63%. The Zacks Consensus Estimate of ARRY’s 2025 and 2026 earnings per share indicates year-over-year growth of 10% and 35.35% respectively.
Plains GP Holdings PAGP is expected to beat second-quarter earnings estimates when it reports results on Aug. 8, 2025. The firm currently has an Earnings ESP of +50.00% and sports a Zacks Rank #1.
The Zacks Consensus Estimate of PAGP’s 2025 and 2026 earnings per unit indicates year-over-year growth of 205.77% and 23.79%, respectively.
HighPeak Energy, Inc. HPK is expected to beat second-quarter earnings estimates when it reports results on Aug. 11, 2025. The company currently has an Earnings ESP of +58.33% and a Zacks Rank #2.
The Zacks Consensus Estimate of HPK’s 2025 and 2026 earnings per share indicates year-over-year growth of 2.99% and 3.62% respectively.
Factors Likely to Have Shaped OXY’s Q2 Earnings
Permian Resources assets remain a consistent contributor to the firm’s overall production. Production from Permian is expected in the range of 760-780 thousand barrels of oil equivalent per day (Mboe/d) for second-quarter 2025, and the company expects total production in the band of 1,377-1,417 Mboe/d in second-quarter 2025.
OXY’s second-quarter production volumes are projected to improve compared to the previous quarter, primarily due to improvement in Permian activity levels, the completion of annual plant maintenance at Dolphin, and the return of Gulf of America production following seasonal maintenance projects.
OXY expects earnings are likely to have been adversely impacted in the second quarter due to a drop in Midstream earnings as a result of declining commodity prices and the associated timing of delivery and cargo sales.
The company is also working to reduce its operating expenses and is trying to reduce its domestic lease operating expense, which is likely to boost margin and have a positive impact on earnings.
Occidental Petroleum is generating cash flow and utilizing the same to reduce debts, which is likely to have a positive impact on earnings. The company retired debts worth $6.8 billion, which lowered annual interest expenses by $370 million; undoubtedly, it will have a positive impact on earnings per share.
OXY’s Price Performance
OXY shares have gained 11.9% in the past three months compared with the industry’s rally of 6%.
Image Source: Zacks Investment Research
OXY Stock Trading at a Premium
Occidental Petroleum’s shares are somewhat expensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) being 5.15X compared with its industry average of 4.45X.
Image Source: Zacks Investment Research
Investment Thesis
Occidental Petroleum has benefited from its robust domestic operations and strategic focus on Permian resources, where its core development area continues to deliver strong results. The addition of new assets through acquisitions is also expected to have contributed to production volumes in the second quarter.
However, since the company typically maintains exposure to market commodity prices, the fluctuating oil prices are likely to have an adverse impact on its second-quarter earnings.
Wrapping Up
Occidental Petroleum’s cash flow generation, initiative to lower debts, and contribution from acquisitions are expected to have boosted its performance. Earnings from the Midstream segment are expected to be up sequentially in the to-be-reported quarter.
Occidental Petroleum currently has a Zacks Rank #3. Hence, those who already own this stock would do well to retain it in their portfolio, and others should wait for a better entry point.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Occidental Set to Report Q2 Earnings: What's in Store for the Stock?

Key Points
Occidental Petroleum operates in all three energy segments: upstream, midstream, and downstream.
There is no direct correlation between an earnings beat or miss and Oxy's immediate stock performance.
Rather, Oxy's stock price movements seem to have followed a path similar to WTI crude oil prices.
Occidental Petroleum (NYSE: OXY), also known as Oxy, is an energy company specializing in oil and natural gas exploration, production, and manufacturing. Operating in all three segments of the energy pipeline -- upstream, midstream, and downstream -- has made Oxy a fully integrated energy company.
On Aug. 6, Oxy will report its fiscal second-quarter earnings, marking a key date for a company whose stock has lost a quarter of its value over the past 12 months. For investors looking to buy the stock pre-earnings to take advantage of a potential post-earnings stock price jump, you might want to reconsider this thought process. I'll show you why.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Even good earnings haven't meant a stock price increase for Oxy
Oftentimes, having a mindset of "this good thing happened, so the stock should rise" or "this bad thing happened, so the stock should decline" can be counterproductive in stock investing. It might make logical sense, but unfortunately, the stock market doesn't operate on that logic.
There has been no correlation between Oxy beating, meeting, or missing its earnings-per-share (EPS) estimates and its next-day (or even week) stock price movements.
In its last eight quarters, Oxy has beaten or met EPS estimates seven times, yet the stock only increased the next day three times. This indicates that investors are giving weight to factors other than earnings.
May 2025
Yes
Up
Feb. 2025
Yes
Down
Nov. 2024
Yes
Down
Aug. 2024
Yes
Up
May 2024
Yes
Up
Feb. 2024
Met
Down
Nov. 2023
Yes
Down
Aug. 2023
No
Down
Here's a key number investors should be focusing on when it comes to Oxy
Earnings aside, one of the most important factors affecting Oxy's business (and how investors perceive it) is the West Texas Intermediate (WTI) crude oil prices. Simply put, the higher the WTI is, the more Oxy earns per barrel of oil because it sells most of its oil at a price tied to the WTI.
Oxy's stock price and WTI prices follow a similar path, but you also don't want to buy the stock assuming you can anticipate how WTI prices will move, either. Ideally, you would acknowledge the correlation between the two, yet approach Oxy's stock with a long-term mindset.
Shares of Occidental Petroleum likely won't experience any hypergrowth that you sometimes see with flashy tech stocks, so the real value is unlocked by holding on to it for the long haul and taking advantage of its above-average dividend yield. If you're comfortable with that possibility, then by all means buy the stock before Aug. 6. If you're buying it before Aug. 6 strictly based on potential earnings, know that it's essentially a coin flip on how the stock price moves.
Should you invest $1,000 in Occidental Petroleum right now?
Before you buy stock in Occidental Petroleum, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Occidental Petroleum wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,090,257!*
Now, it’s worth noting Stock Advisor’s total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of July 29, 2025
Stefon Walters has no position in any of the stocks mentioned. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Occidental Petroleum Corporation

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