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Occidental Petroleum Corp - Stock Quote OXY

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Morningstar's Occidental Petroleum Corp Stock Analysis

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Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

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Capital Allocation

INVESTOR

With the Balance Sheet Cleaned Up, Oxy is Getting Ready to Expand Shareholder Distributions

Business Strategy and Outlook

| Dave Meats, CFA |

Occidental Petroleum has cut the chaff from its upstream portfolio in the past few years, shedding noncore assets to focus on core holdings in the U.S. and Middle East. The portfolio was further transformed by the 2019 acquisition of Anadarko Petroleum. This transaction bolstered the firm's unconventional footprint in the Permian Basin and augmented its U.S. midstream portfolio with a stake in WES Midstream (which it subsequently reduced to 51%). It also gave the firm entry into the DJ Basin, where Anadarko was a leading operator, as well as adding assets in the Gulf of Mexico and Algeria.

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Key Statistics - OXY

Occidental Petroleum Corp's Company Profile

Business Description

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2021, the company reported net proved reserves of 3.5 billion barrels of oil equivalent. Net production averaged 1,174 thousand barrels of oil equivalent per day in 2021 at a ratio of 75% oil and natural gas liquids and 25% natural gas.

Contact
5 Greenway Plaza, Suite 110
Houston, TX, 77046
T +1 713 215-7000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 11,678