You've probably seen it flashing on the ticker a thousand times. Three letters. OXY. That is the occidental petroleum stock symbol, and it’s basically become the shorthand for one of the most aggressive, debt-defying, and Buffett-backed bets in the entire energy sector. But if you think OXY is just another boring oil-and-gas play, you’re missing the actual drama.
It's January 2026. The market is weird.
Occidental Petroleum (OXY) is currently trading right around $42.70. It’s been a volatile start to the year. Just a couple of weeks ago, the price was bouncing between $40 and $44. It’s not exactly the moonshot some bulls were hoping for, but there is a massive, structural shift happening under the hood that the casual retail investor often ignores.
The Buffett Factor is Real (And Massive)
Let’s talk about the elephant in the room: Berkshire Hathaway.
Warren Buffett doesn't just like this stock; he's practically glued to it. As of the latest filings, Berkshire owns a staggering 28% of OXY's outstanding shares. That’s not a "position." That's a stake in the company’s soul. He’s also sitting on warrants to buy another 83.9 million shares at roughly $59.58.
Think about that for a second.
When the occidental petroleum stock symbol is mentioned in Omaha, it’s usually alongside the $8.5 billion in preferred shares Berkshire holds. Buffett recently made a "genius" move—his words, essentially—to buy the OxyChem division from Occidental for **$9.7 billion** in cash.
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Why did he do it?
Because OXY needed the cash to pay down the mountain of debt it took on to buy CrownRock back in 2024. Buffett saw an opening, snagged a world-class chemical business, and helped OXY CEO Vicki Hollub clean up the balance sheet. It’s a win-win, but it also means Berkshire’s fingerprints are all over OXY’s future. Honestly, some people joke that OXY is becoming Berkshire’s "energy subsidiary" in all but name.
The Debt Dragon is Being Slain
Debt used to be the primary reason people stayed away from OXY. After the Anadarko deal years ago, the company was underwater. Then came CrownRock.
But things are changing fast.
- The $15 Billion Target: Management has been obsessed with getting principal debt below $15 billion.
- Cash Infusion: The OxyChem sale brought in about $8 billion after taxes.
- Debt Repayment: In Q3 2025 alone, they repaid $1.3 billion in debt.
- Current Status: As we roll through early 2026, the total debt is hovering around $22 billion, but with the OxyChem proceeds hitting the books, that number is dropping like a rock.
Vicki Hollub hasn't been shy about the plan. She wants to return money to shareholders, but the debt has to go first. If you’re watching the occidental petroleum stock symbol for a massive dividend hike, you might have to wait a bit longer, though they did just pay out a $0.24 quarterly dividend on January 15, 2026.
Carbon Capture: The "Wild Card"
Here is where it gets kinda sci-fi.
Most oil companies talk about "transitioning." OXY is actually building the stuff. Their subsidiary, 1PointFive, is currently commissioning STRATOS—the world's largest Direct Air Capture (DAC) plant—in Texas.
This isn't just a PR stunt.
They are selling "carbon removal credits" to companies like Amazon and various airlines. In 2025, they even got the first-ever Class VI permits from the EPA to sequester CO2 captured directly from the air.
If this technology scales, OXY stops being just an oil company and starts being a carbon management company. That’s a totally different valuation model. Instead of just being tied to the price of a barrel of WTI crude (which averaged around $64.93 in Q3 2025), they could be valued as a tech-heavy environmental services firm.
What the Numbers Actually Say Right Now
Let's look at the raw data from the most recent earnings.
In Q3 2025, OXY reported an Adjusted EPS of $0.64. Analysts were expecting $0.49. That’s a huge beat.
They produced 1,465 thousand barrels of oil equivalent per day (Mboed), which was way above their own guidance. The Permian Basin is still their bread and butter, pumping out 800 Mboed.
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But it’s not all sunshine.
The free cash flow took a hit recently, dropping to about $392 million in the September 2025 quarter. Why? Because they are spending heavily on these low-carbon ventures and integrating new assets.
If you're a short-term trader, the occidental petroleum stock symbol might look frustrating. It’s range-bound. But for the long-term crowd, the story is about a company that is successfully deleveraging while building a massive moat in the carbon economy.
Is the Dividend Enough?
Honestly, a 2.25% yield isn't going to make you rich overnight.
It’s decent. It’s stable. They’ve increased it for five years straight. But the real "shareholder return" right now isn't the cash in your pocket; it's the reduction of debt and the buying back of those expensive preferred shares held by Buffett.
Actionable Insights for Investors
If you're looking at the occidental petroleum stock symbol today, here’s how to actually play it based on the 2026 landscape:
- Watch the $15B Debt Milestone: This is the magic number. Once principal debt stays consistently below $15 billion, expect management to get much more aggressive with share buybacks.
- Monitor STRATOS Performance: The first half of 2026 is critical for the commissioning of their carbon capture facility. If it works as advertised, the stock could decouple from oil price swings.
- The "Buffett Floor": History shows Buffett tends to buy more when the price dips into the high $40s or low $50s. At the current **$42.70**, the stock is actually trading below many of Berkshire's historical entry points.
- Oil Price Sensitivity: OXY is still an oil company. If WTI crude drops below $60, their margins on the upstream side will tighten significantly, regardless of how cool their carbon capture tech is.
Occidental is no longer a "distressed" asset. It’s a lean, mean, carbon-scrubbing machine that happens to have the world’s most famous investor as its biggest fan.
Next Steps for Your Portfolio:
Check your exposure to the energy sector. If you are overweight in "old oil" but want a hedge that plays into the carbon sequestration market, OXY is the most direct way to play that without buying a speculative tech startup. Keep an eye on the February 18, 2026 earnings call—that’s when we’ll get the final word on how much the OxyChem sale truly moved the needle on their year-end debt levels.