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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, Africa, and Latin America.
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; 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 trades around its assets consisting of transportation and storage capacity; and invests in entities.
Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
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OXY strikes oil at the Bandit prospect in the Gulf of America, with a potential subsea tie-back to nearby facilities that could lift long-term output and cash flow.
Oxy's stock has pulled back from its 52-week high. If oil prices stay elevated, Oxy's stock could bounce back and set new highs.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
The morning move made sense because OXY is highly leveraged to crude prices. As a major U.S. oil and gas producer, Occidental's upstream earnings and cash flow are closely tied to realized oil prices, so any geopolitical development that threatens global supply can quickly lift the stock.
Occidental Petroleum is investing heavily in the Gulf of America, a key oil-producing region in the U.S. Finding oil is a great sign, especially if the offshore well can be connected back to existing production facilities. Other oil companies have a stake in the Bandit.
Occidental Petroleum on Thursday said it has discovered oil at the Bandit prospect in the Gulf of Mexico, about 125 miles south of the Louisiana coast.
HOUSTON, April 09, 2026 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced an oil discovery at the Bandit prospect in the Gulf of America, about 125 miles south of the Louisiana coast. The exploration well, located in Green Canyon Block 680, encountered high-quality, full-to-base oil-bearing Miocene sands.
Occidental Petroleum (OXY) closed at $59.77 in the latest trading session, marking a -5.04% move from the prior day.
Oil prices tumbled more than 13% today to about $95 a barrel. Crude could continue falling if the ceasefire holds.
Markets are rallying Wednesday on the news of a two-week ceasefire in Iran, but some stocks are bucking the trend.
OXY has surged 73.9% in a year as Permian scale, CrownRock and debt paydown lift outlook, yet ROE lags and valuation looks rich.
Oil has surged 70% in just 26 trading days since the war in Iran began, marking a faster pace than the
BEP, OXY and YPF made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on April 7th, 2026.
Occidental rallied along with oil prices last month. The company is benefiting from its deep, low-cost inventory in the Permian Basin.
