Occidental Petroleum (NYSE:OXY) is having a moment.
Shares of the Warren Buffett favorite have risen 48.34% year to date, rebounding off late-2025 lows on the back of a $5.8 billion debt reduction, an 8% dividend hike, and a portfolio reset following the OxyChem sale to Berkshire Hathaway
CEO Vicki Hollub framed the moment plainly: “The sale of OxyChem is an important milestone in the strategic transformation of our company.” OXY stock trades near $60.70. Can it reach $80 by 2030? Here is what would have to go right.
What’s Holding Occidental Back The rally has been real, but the path higher gets steep. Shares sit just 5% below the 52-week high of $67.45, and free cash flow is contracting. Full-year 2025 free cash flow came in at $4.1 billion, down from $6.1 billion in 2023.