Occidental Petroleum Sells OxyChem to Berkshire Hathaway

Occidental Petroleum ( (OXY) ) has provided an announcement.

On October 2, 2025, Occidental Petroleum announced a definitive agreement for Berkshire Hathaway to acquire its chemical business, OxyChem, for $9.7 billion in an all-cash transaction. This strategic move is expected to strengthen Occidental’s financial position by reducing debt and focusing on its core oil and gas operations, while Berkshire Hathaway gains a robust portfolio of chemical assets. The transaction is anticipated to close in the fourth quarter of 2025, pending regulatory approvals.

The most recent analyst rating on (OXY) stock is a Hold with a $45.00 price target. To see the full list of analyst forecasts on Occidental Petroleum stock, see the OXY Stock Forecast page.

Spark’s Take on OXY Stock

According to Spark, TipRanks’ AI Analyst, OXY is a Outperform.

Occidental Petroleum’s strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. While technical indicators and valuation suggest caution, the company’s strategic initiatives in sustainability and debt reduction provide a solid foundation for future growth.

To see Spark’s full report on OXY stock, click here.

More about Occidental Petroleum

Occidental Petroleum is an international energy company with assets primarily in the United States, the Middle East, and North Africa. It is one of the largest oil and gas producers in the U.S., with significant operations in the Permian and DJ basins, and offshore Gulf of America. The company also focuses on carbon management through its Oxy Low Carbon Ventures subsidiary and operates a chemical business under OxyChem, which produces essential chemicals for various industries.

Average Trading Volume: 9,808,391

Technical Sentiment Signal: Hold

Current Market Cap: $46.98B

For an in-depth examination of OXY stock, go to TipRanks’ Overview page.