Occidental Petroleum (OXY) Gains Following Q4 2025 Report

The share price of Occidental Petroleum Corporation (NYSE:OXY) surged by 12.52% between February 13 and February 20, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Occidental Petroleum Corporation (NYSE:OXY) is an independent exploration and production company with assets primarily in the United States, the Middle East, Africa, and Latin America.

Occidental Petroleum Corporation (NYSE:OXY) reported better-than-expected results for its Q4 2025 on February 19, with adjusted earnings of $0.31, beating estimates by $0.13, driven by the strong performance of its midstream unit. The company’s midstream business reported a pre-tax income of $204 million, compared to a loss of $123 million in the same period in 2024.

However, Occidental had to deal with a tough market, as its realized oil prices came in at $59.22 per barrel in Q4, down from $69.73 a year earlier. That said, the company’s production rose slightly to 1.48 MMboepd, exceeding the high end of its guidance.

Notably, Occidental Petroleum Corporation (NYSE:OXY) managed to bolster its balance sheet with the completion of the OxyChem sale on January 2, 2026. This helped the Warren Buffett-backed company to reduce its debt by $5.8 billion since mid-December 2025 and bring its total debt load down to $15 billion. It is worth noting that Occidental had been struggling with massive debt obligations following its $55 billion acquisition of Anadarko Petroleum in 2019 and its $12 billion purchase of CrownRock last year.

Occidental Petroleum Corporation (NYSE:OXY) also grew its quarterly dividend by more than 8% to $0.26 per share, payable on April 15, to stockholders of record as of March 10, 2026.

Occidental Petroleum Corporation (NYSE:OXY) is targeting its production to average between 1.42 MMboepd and 1.48 MMboepd in 2026, with capital spending in the range of $5.5 billion to $5.9 billion. The company is also aiming to improve its free cash flow by more than $1.2 billion in 2026.

Occidental Petroleum Corporation (NYSE:OXY) garnered significant positive attention following its impressive Q4 report, with analysts from Roth Capital, Morgan Stanley, UBS, Susquehanna, and Barclays raising their price targets on the stock.

Occidental Petroleum Corporation (NYSE:OXY) was recently included among the 10 Best American Oil and Gas Stocks to Buy.

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