Occidental Petroleum: A New Focus On Shareholder Returns

Occidental Petroleum (OXY) offers a robust investment case, driven by a transformed asset base and leading Permian production exceeding 1.4 million barrels/day. OXY has aggressively deleveraged, reducing debt from $29 billion to $13.3 billion in 22 months, unlocking $830 million in annual interest savings. Guidance projects 2026 FCF of $5.5 billion at $65/barrel WTI, equating to a compelling 9% FCF yield at current valuation.