---
title: Occidental Petroleum (OXY) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/oxy
ticker: OXY
as_of: 2026-10-17
sector: Energy
industry: Oil & Gas Exploration & Production
---
# Occidental Petroleum (OXY)

Occidental Petroleum (OXY) closed at $62.38 on Oct 16, 2026, undervalued by 30% vs its model value of $88.95 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $62.38 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $88.95 |
| Price vs model | undervalued by 30% vs model |
| Range of that model | $42.23 – $173.35 |
| Market value | $62.4B |
| P/E (fiscal 2025) | 38.7 |
| Net margin (fiscal 2025) | 11.0% |
| Free cash flow (fiscal 2025) | $4.1B |
| Dividend yield (trailing twelve months) | 1.67% |
| Beta | 0.16 |
| Cost of capital (WACC) | 5.99% |
| Business classification | Cyclical (Revenue declining (~-13% recent), Moderate margins (11% net margin), Highly cyclical earnings, Strong FCF yield (6.6%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Best performing this year | #41 | +51.7% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.67% |
| Dividends per share, last 12 months | $1.04 |
| Coverage | — |
| Raised | 4 years in a row |
| Growth over 5 years | 91.9% a year |
| Latest payment | $0.28, ex-date Sep 10, 2026, paid Oct 15, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 9, 2021 | $0.04 |
| To Sep 9, 2022 | $0.40 |
| To Sep 7, 2023 | $0.67 |
| To Sep 10, 2024 | $0.84 |
| To Sep 10, 2025 | $0.94 |
| Trailing twelve months (to Sep 10, 2026) | $1.04 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $88.95 | $42.23 | $173.35 |
| DCF · Perpetuity growth · 10y | cross check | $64.50 | $32.33 | $127.58 |
| DCF · EBITDA exit · 5y | cross check | $38.35 | $5.79 | $77.26 |
| DCF · EBITDA exit · 10y | cross check | $36.74 | $12.88 | $69.79 |
| P/E · peers | cross check | $48.26 | $44.14 | $71.42 |
| P/E · own history | cross check | $72.82 | $54.52 | $145.78 |
| PEG | sanity check | $166.92 | $166.92 | $166.92 |
| EV/EBITDA · peers | cross check | $50.94 | $29.52 | $74.61 |
| EV/Revenue · peers | cross check | $42.67 | $25.13 | $64.07 |
| Earnings power value | cross check | $0.00 | $0.00 | $0.00 |
| Dividend discount | cross check | $19.92 | $13.76 | $39.87 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | Jackson Richard A. | President and CEO | Tax withholding | 4,124 | $228,139.7 |
| Sep 25, 2026 | Hollub Vicki A. | Director | Bona fide gift | 90,000 | $0 |
| Aug 1, 2026 | POLLACK BRAD | SVP & General Counsel | Grant / award | 26,284 | $0 |
| Jun 23, 2026 | Jackson Richard A. | President and CEO | Open-market buy | 4,770 | $249,852.6 |
| Jun 1, 2026 | Jackson Richard A. | President and CEO | Grant / award | 101,833 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/797468/000162828026065586/oxy-20261013.htm |
| Aug 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/797468/000162828026053388/oxy-20260630.htm |
| Aug 5, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/797468/000162828026053377/oxy-20260805.htm |
| Jul 10, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/797468/000162828026047886/oxy-20260710.htm |
| May 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/797468/000162828026030584/oxy-20260331.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Buffett | 2026-06-30 | 264,941,431 | $12.9B |
| Dodge & Cox | 2026-06-30 | 72,764,944 | $3.5B |
| Duan Yongping | 2026-06-30 | 10,261,500 | $498.4M |
| Francis Chou | 2026-06-30 | 313,000 | $15.2M |

4 tracked managers in all.

## About

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through Oil and Gas and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. This segment also optimizes its transportation and storage capacity and invests in entities. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

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Source: https://sweetvaluelab.com/stocks/oxy (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.