[OXY] Occidental: Q3 2026 Earnings Test Permian Output and Debt Paydown

Occidental (OXY) is a Houston-based oil and gas producer that develops crude oil, NGL and natural gas in the Permian, the Rockies and the Gulf of America, as well as in Oman, the UAE and Algeria, and it also runs a midstream and marketing business[1][2]. Third quarter 2026 (three months ended September 30, 2026) results are scheduled for 2026-11-10, according to the earnings calendar, which makes the Occidental Q3 2026 earnings release the next test of the company's production and debt plan[3]. In the latest reported quarter, the second quarter of 2026, Occidental produced 1,433 thousand barrels of oil equivalent per day (Mboe/d), above the high end of guidance; it realized $96.78 per barrel of oil worldwide, earned adjusted EPS of $2.40 and reported EPS of $2.75, generated $3.021 billion of free cash flow before working capital and cut principal debt to $11.8 billion[1]. On October 13 the company pre-released several third-quarter figures: a worldwide realized oil price of $85.91 per barrel, Gulf of America net sales of 110 Mboe/d after a third-party gas pipeline constraint and maintenance, domestic lease operating expense (LOE) of $8.54 per Boe, below the $8.75 guided on the August call, a $94 million reduction in operating cash flow before working capital from crude oil collar settlements, and 1,012.8 million diluted shares[4][5]. The average of 16 analysts compiled by Drillr puts third-quarter EPS at $1.45, within a range of $0.89 to $1.62, and net income at $1.467 billion[6].

Three things matter most in this report. The first is whether the Permian can hold up volumes while the Gulf of America is curtailed: the Permian produced 804 Mboe/d in the second quarter, and with the Gulf falling from 144 to 110, whether total output stays inside guidance depends mainly on onshore performance[1][4]. The second is how far midstream profit falls back: midstream and marketing earned adjusted pre-tax income of about $960 million in the second quarter, a segment record, but the company has warned that a narrower Waha-to-Gulf Coast gas spread will lower third-quarter income, and that line determines how much of the second-quarter strength can last[5]. The third is the pace of debt reduction: principal debt fell by $1.9 billion to $11.8 billion in the second quarter, and whether free cash flow can keep pushing it toward the $10 billion milestone after lower oil prices and narrower midstream gains will decide when the company turns to building cash for the redemption of Berkshire Hathaway's preferred stock[1][5].

Company Background and Business Structure

Occidental's main thread in recent years has been selling non-core assets and paying down debt. In 2019 the company issued 100,000 shares of series A preferred stock to Berkshire Hathaway with a face value of $100,000 per share; in 2024 it raised $9.6 billion of net debt proceeds and then shifted to steady deleveraging[2]. In October 2025 Occidental agreed to sell its chemical business, OxyChem, to Berkshire for $9.7 billion in cash; the deal closed on January 2, 2026 at an adjusted price of $9.5 billion with an after-tax gain of about $3.1 billion, and OxyChem is now reported as discontinued operations[2][7]. Long-time CEO Vicki Hollub retired on June 1, 2026, and former chief operating officer Richard Jackson became president and CEO[8].

After the OxyChem sale, Occidental has two segments: oil and gas, and midstream and marketing. On the 10-K's continuing-operations basis, the oil and gas segment had 2025 revenue of $20.902 billion, about 97% of consolidated revenue of $21.569 billion, and crude oil accounted for $17.174 billion, about 82% of segment revenue; midstream and marketing revenue was $1.255 billion, with $588 million of intersegment eliminations[2]. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area[7], and oil made up 48.8% of total company production in the third quarter[4]. Proved reserves from continuing operations were 4,603 million Boe at the end of 2025, about 72% of them developed[2]; the company cites a total resource base of 16.5 billion Boe, 88% of it in the United States[5].

The midstream and marketing segment exists to support and extend the value of the oil and gas business. It operates or contracts for gathering systems, gas plants, storage and long-haul transportation, holds equity-method stakes in Western Midstream (WES) and Dolphin Energy (DEL), which runs a pipeline in the Middle East, and owns Al Hosn, a UAE facility that removes sulfur from natural gas and sells the sulfur[2]. The low-carbon business also sits in this segment; STRATOS, the company's first large-scale direct air capture project, is designed to capture up to 500,000 tons of CO2 a year, and the company also owns 40.3% of NET Power[2].

Financial History and Current Position

Occidental's annual revenue declined modestly as oil prices eased. On a continuing-operations basis, 2025 consolidated revenue was $21.569 billion, down from $22.710 billion in 2024 and $23.230 billion in 2023[2]. Full-year 2025 production averaged 1,434 Mboe/d at a worldwide realized oil price of $64.60 per barrel; net income attributable to common stockholders was $1.647 billion, or $1.61 per share, and adjusted income was $1.675 billion, or $1.67 per share; operating cash flow before working capital was $10.673 billion, capital expenditures net of noncontrolling interest were $6.227 billion, and free cash flow before working capital was $4.446 billion[1]. During the year the company repaid $3.8 billion of debt and paid $1.6 billion of dividends, including $679 million of preferred dividends[2].

Reported profit in the first quarter of 2026 came mainly from the gain on the OxyChem sale. Production averaged 1,426 Mboe/d, the worldwide realized oil price was $69.91 per barrel and the domestic realized gas price was $1.01 per Mcf; reported EPS was $3.13 and adjusted EPS was $1.06, with the difference mainly reflecting the OxyChem gain, partly offset by derivative losses and early debt redemption premiums[9][10]. First-quarter operating cash flow before working capital was $3.251 billion, capital expenditures were $1.504 billion and free cash flow before working capital was $1.747 billion[1]; by May 5 the company had repaid $7.1 billion of principal debt, bringing it down to $13.3 billion[9].

The second quarter combined high oil prices with record midstream profit. The worldwide realized oil price rose to $96.78 per barrel while the domestic realized gas price was negative $1.48 per Mcf; revenue from contracts with customers was $7.053 billion, including $6.777 billion from oil and gas and $419 million from midstream and marketing[7]. Net income attributable to common stockholders was $2.807 billion, or $2.75 per share, and adjusted income was $2.443 billion, or $2.40 per share, at an adjusted effective tax rate of 23%; operating cash flow before working capital was $4.610 billion, capital expenditures were $1.589 billion and free cash flow before working capital was $3.021 billion, the highest since the third quarter of 2022[1]. At the end of June the company held $4.2 billion of cash and had $4.2 billion of undrawn revolving credit capacity; it had no debt maturities left in 2026 and only $48 million, $14 million and $352 million due in 2027, 2028 and 2029[7].

Operating Model

Occidental's revenue is set by volumes and realized prices, with crude oil doing most of the work. Revenue roughly equals daily production of oil, NGL and gas multiplied by days and realized prices, plus midstream marketing revenue, minus intersegment eliminations. Second-quarter oil and gas revenue was $6.777 billion, made up of $6.289 billion of oil, $681 million of NGL and negative $169 million of gas, with US gas contributing negative $250 million because Waha prices were below zero[7]. According to the annual sensitivity disclosure, each $1 per barrel change in WTI moves the company's budgeted 2026 pre-tax cash by about $240 million, and each $0.50 per Mcf change in domestic gas prices moves it by about $120 million[2].

Oil and gas profit depends on whether unit costs stay stable through the price cycle. Segment pre-tax income roughly equals revenue minus field costs such as LOE, transportation and taxes other than income, minus depletion (DD&A) and exploration expense, plus or minus crude oil derivative results; in the second quarter domestic LOE was $7.80 per Boe, total oil and gas DD&A was $13.38 per Boe and segment pre-tax income was $2.8 billion[1]. Midstream and marketing profit comes from regional gas spreads, crude sale timing, Al Hosn sulfur prices and WES equity income, minus low-carbon expenses, and was about $960 million adjusted in the second quarter[5]. After interest, overhead and income taxes, and after preferred dividends, the two segments produce income attributable to common stockholders; the company says accelerated debt reduction has cut annualized interest expense by about $630 million versus 2025[5].

The order in which cash is allocated sets the pace of deleveraging. Operating cash flow before working capital roughly equals net income from continuing operations plus non-cash items such as depletion, plus or minus derivative settlements; subtracting capital expenditures net of noncontrolling interest gives free cash flow, which first pays common and preferred dividends, with the rest going to principal debt. In the second quarter, $4.610 billion of operating cash flow before working capital minus $1.589 billion of capital spending left $3.021 billion of free cash flow, principal debt fell by $1.9 billion and the quarterly dividend rose to $0.28 per share[1]. Management's stated order is to support a sustainable, growing dividend, reach $10 billion of principal debt, build cash for the August 2029 preferred redemption, and only then consider buybacks and growth investment[5].

Industry and Competitive Position

Occidental is one of the main producers in the Permian, and its edge lies in advanced recovery experience. The company produced 804 Mboe/d in the Permian in the second quarter[1], where its main peers include independent producers such as ConocoPhillips, Diamondback and EOG. Occidental has deep waterflood experience: its waterflood in Oman cut decline rates from 19% to 7%, and the approach is now being applied at Marlin King and Horn Mountain in the Gulf of America; ten years of CO2 enhanced oil recovery pilots in the Permian show an uplift of more than 45% in estimated ultimate recovery, lifting recovery from 10% to 15%[5].

Occidental's weak points are its balance sheet and Middle East exposure. At the end of June 2026 its debt was rated Baa3 by Moody's, BBB by Fitch and BB+ by S&P, leaving the S&P grade one notch below investment grade[7]. Berkshire also holds about $8.5 billion face value of its preferred stock, whose mandatory redemption clause limits distributions to common shareholders[2]. Long-term partnership assets in the UAE and Oman provide production outside the United States, but Middle East conditions have already lowered international volumes, which means the company carries more geopolitical risk than peers that operate only onshore in the US[5].

Core Debates

With Gulf of America output curtailed, can the Permian hold up Occidental’s production and oil-and-gas earnings?

This question drives most of third-quarter oil and gas profit. The oil and gas segment provides about 97% of revenue[2], and the company pre-released in October that a third-party gas pipeline constraint and maintenance cut Gulf of America net sales from 144 Mboe/d in the second quarter to 110 in the third, while the worldwide realized oil price fell from $96.78 to $85.91[4][1]. Because the price and Gulf figures are already public, what the third-quarter report really has to show is whether the Permian can hold its volumes while running fewer rigs, and when offshore output returns.

Current evidence shows the Permian still edging up while international output slides. Permian production was 800 Mboe/d in the third quarter of 2025 and 787 in the first quarter of 2026 before recovering to 804 in the second quarter; total company production in that quarter was 1,433, compared with 1,465 in the third quarter of 2025[1]. The company says it will drop 3 Permian rigs in the fourth quarter while bringing 15 more wells online than originally planned[5]; international volumes, hit by Middle East disruptions, fell from 232 for full-year 2025 to 205 in the second quarter[1]. An alternative reading is that the first-half Permian beat came from concentrated well turn-ins and base-well performance rather than durable efficiency gains; if the Permian falls back below 787 in the third quarter, total production staying within guidance would owe more to a wide range than to onshore offsetting the offshore gap.

Volume changes flow to oil and gas profit through price and unit costs. New Permian wells versus base decline, together with the uptime of Gulf platforms and export pipelines, set US daily output (1,228 Mboe/d in the second quarter), which multiplied by the realized oil price ($85.91 in the third quarter) produces oil and gas revenue ($6.777 billion in the second quarter); after costs including third-quarter domestic LOE of $8.54 per Boe, that becomes segment pre-tax income ($2.8 billion in the second quarter) and finally operating cash flow[1][4]. What remains unresolved is that the company has only said third-quarter production is within its guidance range, without giving the numbers, and has not said when the remaining affected Gulf volumes will return[4].

The report needs to answer three specific questions. First, whether third-quarter Permian production is at least the second quarter's 804 Mboe/d; second, whether fourth-quarter guidance brings the Gulf of America back to 130-140 Mboe/d; third, whether domestic LOE returns to the full-year guidance of $8.10 in the fourth quarter[5]. If the Permian drops below 787, or the Gulf export constraint lasts into 2027, onshore output cannot cover the offshore gap and the current view that the Permian provides a floor would weaken.

As the Waha spread narrows, how much of Occidental’s record midstream profit will fade?

Midstream profit is now large enough to shape the view of the whole company's earnings. Midstream and marketing accounted for only about 6% of consolidated revenue in 2025[2], yet its second-quarter adjusted pre-tax income of about $960 million was close to one-third of the oil and gas segment's $2.8 billion[5][1]. That profit comes from moving low-priced Permian gas to the Gulf Coast, from the timing of crude sales and from sulfur prices, all of which can reverse with outside conditions; the company has already flagged a third-quarter decline, so this quarter shows how much of the gain was one-off.

The company raised midstream guidance twice in the first half, and the spread has already started to narrow. On the first-quarter call it lifted the full-year midstream guidance midpoint to about $1.1 billion[11], and in the second quarter it raised guidance by another $300 million[5]; first-quarter adjusted income of about $591 million plus about $960 million in the second quarter puts the first half at about $1.55 billion, already above the full-year midpoint of about $1.1 billion set at the first raise[1][5]. Over the same period the domestic realized gas price rose from negative $1.48 per Mcf in the second quarter, or -51% of NYMEX, to the pre-released $1.61 in the third quarter, or 54% of NYMEX[7][4]. An alternative reading is that the company's long-haul pipeline contracts and marketing capability can sustain a high base profit even after the spread narrows, and the second-quarter record was simply base profit plus timing gains; if third-quarter adjusted income stays above $300 million, that reading becomes more convincing.

A narrower spread shifts profit between the two segments. Added Permian takeaway capacity narrows the Waha-to-Gulf Coast gas spread and reduces midstream transportation margin; at the same time, higher upstream US gas realizations improve oil and gas segment gas revenue (negative $250 million in the second quarter)[7][4]. Management says the midstream decline will be largely offset by better Permian gas price realizations[5]. What remains unresolved is how complete that offset will be and when Al Hosn's sulfur business recovers: Al Hosn net production fell from 93 Mboe/d in the third quarter of 2025 to 86 in the first quarter and 74 in the second[1].

Three readings in the report can test whether midstream profit lasts. First, whether third-quarter midstream adjusted pre-tax income holds above $200-300 million; second, whether full-year midstream guidance stays at the level set after the second-quarter raise; third, whether full STRATOS commissioning finishes around the end of 2026 as planned, with the move to operations in 2027[5]. If midstream income falls below $200 million and full-year guidance is cut, or Middle East logistics keep holding down Al Hosn sulfur sales, the second-quarter profit was mostly one-off.

With oil prices off their peak, can free cash flow keep pushing Occidental’s principal debt toward $10 billion?

The pace of deleveraging determines when the company can redirect cash to the preferred stock and to shareholder returns. Principal debt was about $15 billion after the OxyChem sale[12] and had fallen to $11.8 billion by the end of June[1]. Management says that after reaching $10 billion it will shift to building cash for the Berkshire preferred stock, which becomes redeemable only in August 2029, and that large, continuous buybacks will wait until the preferred is redeemed[5]; about $8.5 billion of face value remains outstanding, carrying an 8% annual dividend[2]. The third quarter will show whether the pace of debt reduction holds as oil prices fall back.

Second-quarter cash flow was very strong, but the conditions were unusual. Operating cash flow before working capital was $4.610 billion, capital spending $1.589 billion and free cash flow before working capital $3.021 billion; principal debt fell by $1.9 billion and the dividend rose to $0.28 per share[1]. The company says faster deleveraging has already cut annualized interest expense by about $630 million versus 2025[5], and it has no debt maturities left in 2026[7]. For comparison, free cash flow before working capital on the same basis was $1.476 billion in the third quarter of 2025 and $1.747 billion in the first quarter of 2026[1]. An alternative reading is that second-quarter cash flow benefited from both record midstream profit and oil near $97, and both are falling back in the third quarter; if free cash flow returns to around $1.5 billion, the $10 billion milestone would slip to 2027.

The link from profit to debt reduction is direct. Oil and gas and midstream pre-tax income, plus non-cash items such as depletion, minus current taxes and crude collar settlements (negative $94 million in the third quarter[4]), forms operating cash flow before working capital; subtracting capital spending gives free cash flow, which pays the common dividend ($0.28 per share per quarter) and preferred dividends, with the remainder repaying principal debt[1]. Full-year capital guidance remains $5.5 billion to $5.9 billion[5], and the 2027 starting point is $5.9 billion, a level at which management says 2027 production would be roughly flat with 2026[5]. What remains unresolved is how the company will split cash between further net debt reduction and building redemption cash once it passes $10 billion; management has only said it would lean toward further principal debt reduction if macro conditions are supportive[5].

The third-quarter report offers three direct tests. First, whether free cash flow before working capital is clearly above the year-earlier $1.476 billion; second, whether principal debt falls below $11 billion; third, whether the company gives a timeline for reaching $10 billion and details of the $5.9 billion 2027 capital plan[1][5]. If free cash flow falls back to the year-earlier level and deleveraging stalls, or capital spending exceeds the $5.5 billion to $5.9 billion guidance, the second-quarter pace of debt reduction depended on high oil prices and one-off midstream gains.

Risks and Falsifiers

The management transition could change the order of capital allocation. Vicki Hollub retired on June 1, 2026, and former chief operating officer Richard Jackson became president and CEO[8]; the new team has set out a plan to add more than $4 billion of annual sustainable cash flow by 2030 and says it will consider "efficiency-led" growth[5]. The new team now executes the sequence of dividends, debt reduction, the preferred stock, buybacks and growth investment, as well as the $5.9 billion 2027 capital plan; a shift toward growth would change how capital spending and free cash flow are divided. If the third quarter and the 2027 plan keep the current allocation order and capital spending does not exceed the $5.9 billion baseline, this risk has not materialized.

Gulf of America output depends on a third-party gas export pipeline, so the company cannot set the recovery date on its own. The pipeline constraint caused the third-quarter curtailment, and the company has said only that the remaining affected production will return once the constraint is resolved[4]. Gulf production is mostly crude, with 121 thousand barrels per day of oil in the second quarter[1]; as a rough calculation at the third-quarter realized price of $85.91, every 30 thousand barrels per day of lost oil reduces quarterly oil revenue by about $240 million[4]. If Gulf of America production returns above 140 Mboe/d in the fourth quarter, this risk is largely resolved.

Middle East conditions are weighing on both international output and the midstream sulfur business. Production at Al Hosn, Dolphin and Oman has declined, taking international volumes from 232 Mboe/d for full-year 2025 to 205 in the second quarter of 2026[1]; management also notes that Middle East sulfur makes up about half of global seaborne exports, so regional instability makes Al Hosn sulfur prices, volumes and freight more volatile, which affects midstream profit[5]. If international production returns above 225 Mboe/d and Al Hosn above 85 in the fourth quarter, the current view of the Middle East drag would need revising.

The Berkshire preferred stock is a long-term constraint on the capital structure. The roughly $8.5 billion of face value carries an 8% dividend and cannot be voluntarily redeemed before August 2029; until then, if trailing 12-month common distributions exceed $4.00 per share, the excess must be matched by preferred redemptions at 110% of face value[2]. The company paid $679 million of preferred dividends in 2025[2] and says redemption in 2029 would save about $700 million a year[5], a structure that limits room for large buybacks or sharp dividend increases. If the company finds an alternative arrangement before 2029 that avoids the 110% redemption, or builds enough redemption cash early, this constraint would ease.

What to Watch Next

• Permian floor: third-quarter Permian production against the second quarter's 804 Mboe/d; a drop below 787 would show onshore output cannot cover the offshore gap.
• Permian floor: Gulf of America net sales, pre-released at 110 Mboe/d versus 144 in the second quarter; fourth-quarter guidance of 130-140 would support recovery, while a constraint lasting into 2027 would weaken it.
• Permian floor: domestic LOE, pre-released at $8.54 per Boe against full-year guidance of $8.10; costs staying above guidance would signal unresolved pressure.
• Midstream fade: adjusted midstream pre-tax income, about $960 million in the second quarter and about $591 million in the first; holding above $200-300 million supports a durable base, while income below $200 million with a lower full-year guide points to one-off gains.
• Midstream fade: domestic gas realization as a share of NYMEX, pre-released at 54% versus -51% in the second quarter; continued pressure on Al Hosn sulfur sales would make the offset incomplete.
• Debt path: free cash flow before working capital, $1.476 billion in the third quarter of 2025 and $3.021 billion in the second quarter of 2026; a return to the year-earlier level would mean deleveraging has stalled.
• Debt path: principal debt of $11.8 billion at the end of the second quarter; a move below $11 billion and a timeline for $10 billion would support the plan, while capital spending above the $5.5 billion to $5.9 billion guide would weaken it.

Conclusion

Occidental is now an oil-weighted producer whose cash flow is driven by price and volume and whose cash goes first to paying down debt. After the OxyChem sale, oil and gas provides about 97% of revenue, and in the second quarter a $96.78 realized oil price and record midstream profit of about $960 million produced $3.021 billion of free cash flow before working capital and cut principal debt to $11.8 billion[2][1][5]. Third-quarter prices have already eased to $85.91 and Gulf of America net sales fell to 110 Mboe/d[4], so the central open question is whether Permian volumes and the midstream base profit can keep funding fast enough quarterly debt reduction once high oil prices and the spread windfall fade.

Independent outside commentary since the second-quarter results has been limited. Barron's reported on October 1, 2026 that Goldman Sachs analyst Neil Mehta turned positive on Occidental, citing "its oil recovery capabilities and debt reduction plan"[13]. That view maps directly onto the first and third core debates: advanced recovery has to show up in Permian volumes and base decline after the rig cuts, and whether the debt plan delivers depends on third-quarter free cash flow and principal debt. Other coverage in the period mostly tracked share-price and holdings moves and did not produce independent views that could be compared, so this remains one firm's outside interpretation rather than a market consensus, and it does not directly address whether midstream profit can last.

From here, a combination of readings will decide whether the current understanding strengthens or weakens. If third-quarter Permian production is at least 804 Mboe/d, adjusted midstream income stays above $300 million, free cash flow before working capital is clearly above $1.476 billion and principal debt falls below $11 billion, the company's cash flow does not depend entirely on second-quarter conditions. Conversely, if the Permian falls below 787, midstream income drops under $200 million with a lower full-year guide, free cash flow returns to around $1.5 billion and the Gulf export constraint drags into 2027, the $10 billion debt milestone would slip and the next step in capital allocation would be delayed accordingly.

Sources

[1] OXY Q2 2026 8-K filed 2026-08-05 · 2026-08-05 · 8-K · https://www.globenewswire.com/news-release/2026/08/05/3339757/0/en/occidental-announces-second-quarter-2026-results.html

[2] OXY 10-K filed 2026-02-18 · 2026-02-18 · 10-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=10-K&dateb=&owner=include&count=40

[3] OXY earnings calendar updated 2026-11-04 · 2026-11-04 · Drillr earnings calendar

[4] OXY 8-K filed 2026-10-13 · 2026-10-13 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=8-K&dateb=&owner=include&count=40

[5] OXY Q2 2026 earnings call 2026-08-06 · 2026-08-06 · earnings-call · https://gateway.drillr.ai/mcp/private

[6] Drillr analyst estimates OXY Q3 2026 retrieved 2026-11-04 · 2026-11-04 · Drillr analyst estimates · https://gateway.drillr.ai/mcp/private

[7] OXY Q2 2026 10-Q filed 2026-08-05 · 2026-08-05 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=10-Q&dateb=&owner=include&count=40

[8] OXY 8-K filed 2026-05-04 · 2026-05-04 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=8-K&dateb=&owner=include&count=40

[9] OXY Q1 2026 8-K filed 2026-05-05 · 2026-05-05 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=8-K&dateb=&owner=include&count=40

[10] OXY Q1 2026 10-Q filed 2026-05-05 · 2026-05-05 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&type=10-Q&dateb=&owner=include&count=40

[11] OXY Q1 2026 earnings call 2026-05-06 · 2026-05-06 · earnings-call · https://gateway.drillr.ai/mcp/private

[12] OXY Q4 2025 earnings call 2026-02-19 · 2026-02-19 · earnings-call · https://gateway.drillr.ai/mcp/private

[13] Barron's on Goldman Sachs view of OXY 2026-10-01 · 2026-10-01 · Barron's · https://www.barrons.com/articles/occidental-stock-price-upgrade-goldman-005237f8