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Occidental Petroleum ( (OXY) ) has shared an update.
On January 2, 2026, Occidental completed the $9.7 billion all-cash sale of its chemical business, OxyChem, to Berkshire Hathaway, finalizing a divestiture first agreed in October 2025. The transaction is intended to accelerate Occidental’s strategy to strengthen its balance sheet and sharpen its focus on its higher-return oil and gas portfolio, while the company retains OxyChem’s legacy tort claims and certain environmental liabilities in a separate subsidiary that will continue funding and managing long-term remediation activities, a structure that preserves the operational value of the assets for the buyer while keeping historical risk obligations with Occidental.
The most recent analyst rating on (OXY) stock is a Hold with a $46.00 price target. To see the full list of analyst forecasts on Occidental Petroleum stock, see the OXY Stock Forecast page.
Spark’s Take on OXY Stock
According to Spark, TipRanks’ AI Analyst, OXY is a Neutral.
Occidental Petroleum’s overall stock score reflects a stable financial position with strong operational efficiency and strategic moves to reduce debt. However, the high P/E ratio and bearish technical indicators suggest caution. The earnings call provided positive insights into operational performance and strategic initiatives, which are key strengths.
To see Spark’s full report on OXY stock, click here.
More about Occidental Petroleum
Occidental Petroleum is a U.S.-based energy company that produces, markets and transports oil and natural gas, and leverages its carbon management expertise to advance lower‑carbon technologies and products. Headquartered in Houston, it primarily operates in the United States, the Middle East and North Africa, positioning itself as a major player in both traditional hydrocarbons and emerging low-carbon solutions.
Average Trading Volume: 9,553,981
Technical Sentiment Signal: Strong Sell
Current Market Cap: $40.51B
See more insights into OXY stock on TipRanks’ Stock Analysis page.