Occidental Petroleum Corporatio Price & Performance (OXY-WT)

Occidental Petroleum finalized the sale of its mineral and royalty rights in the Denver-Julesburg Basin to Elk Range Royalties for $905 million. The transaction aligns with Occidental’s strategy to divest non-core assets and reduce debt, following its $12 billion CrownRock acquisition last year. The proceeds will target debt repayment efforts.123

Occidental Petroleum has raised its quarterly dividend to $0.24 per share, reflecting a 9% increase. This marks the company’s commitment to shareholder returns despite market challenges. The move follows strong financial performance in 2024, including $11.7 billion in operating cash flow and significant debt reduction efforts.456

Occidental Petroleum’s stock recently dropped to a 52-week low of $45.15, reflecting a 21.95% decline over the past year. Analysts note market volatility and energy sector challenges as key factors. Despite this, Occidental maintains its dividend streak and continues debt reduction through asset sales and strategic adjustments.718