Occidental Petroleum Corporation (OXY) Bundle
A Brief History of Occidental Petroleum Corporation (OXY)
Company Overview
Occidental Petroleum Corporation (OXY) is headquartered in Houston, Texas. As of 2024, the company's market capitalization is approximately $59.4 billion.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $29.4 billion |
| Net Income | $5.2 billion |
| Total Assets | $77.6 billion |
Key Business Segments
- Oil and Gas Exploration
- Chemical Production
- Midstream Operations
Global Operations
OXY operates in multiple countries, with significant presence in:
- United States
- Middle East
- Latin America
Carbon Capture Investments
As of 2024, OXY has invested $1.4 billion in carbon capture and direct air capture technologies.
Shareholder Information
| Metric | Value |
|---|---|
| Dividend Yield | 1.2% |
| Stock Price (February 2024) | $62.45 |
Executive Leadership
CEO: Vicki Hollub (as of 2024)
Production Statistics
| Production Metric | 2023 Value |
|---|---|
| Total Oil Production | 1.2 million barrels per day |
| Natural Gas Production | 350 million cubic feet per day |
A Who Owns Occidental Petroleum Corporation (OXY)
Major Shareholders
| Shareholder | Percentage Ownership | Shares Held |
|---|---|---|
| Berkshire Hathaway Inc. | 20.21% | 188,425,536 shares |
| Vanguard Group Inc. | 8.24% | 76,758,559 shares |
| BlackRock Inc. | 7.22% | 67,249,441 shares |
| State Street Corporation | 4.47% | 41,681,683 shares |
Institutional Ownership Details
Total institutional ownership: 83.4%
- Top institutional investors include Warren Buffett's Berkshire Hathaway
- Institutional investors hold significant voting power
- Major investment management firms dominate ownership structure
Warren Buffett's Investment
Berkshire Hathaway invested $10 billion in Occidental Petroleum in 2019
Ownership Breakdown
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 83.4% |
| Individual Investors | 16.6% |
Occidental Petroleum Corporation (OXY) Mission Statement
Corporate Mission Overview
Occidental Petroleum Corporation focuses on sustainable energy production, carbon management, and chemical technologies.
Strategic Objectives
- Global oil and gas exploration and production in key regions
- Low-carbon investments and technology development
- Chemical manufacturing and midstream operations
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Revenue | $59.57 billion |
| Net Income | $6.88 billion |
| Total Assets | $77.3 billion |
| Market Capitalization | $62.4 billion |
Production Capabilities
| Production Segment | 2023 Output |
|---|---|
| Crude Oil Production | 1.22 million barrels per day |
| Natural Gas Production | 345 million cubic feet per day |
Carbon Management Initiatives
- Direct air capture capacity of 1 million tons CO2 annually
- $1.2 billion invested in carbon capture technologies
- Target of net zero emissions by 2050
Geographic Operations
Key Operating Regions: United States, Middle East, Latin America
Shareholder Information
| Metric | 2023 Data |
|---|---|
| Dividend Yield | 1.14% |
| Earnings Per Share | $7.43 |
How Occidental Petroleum Corporation (OXY) Works
Business Segments
Occidental Petroleum Corporation operates through three primary business segments:
- Oil and Gas
- Chemical
- Midstream and Marketing
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $59.4 billion |
| Net Income | $4.5 billion |
| Total Assets | $77.3 billion |
| Market Capitalization | $61.2 billion |
Oil and Gas Operations
Occidental's primary production regions include:
- Permian Basin (Texas and New Mexico)
- Colorado
- International operations in Middle East
Carbon Capture Technology
| Carbon Capture Project | Capacity | Location |
|---|---|---|
| Direct Air Capture Facility | 1 million tons CO2 annually | Permian Basin, Texas |
Ownership Structure
Significant Shareholders:
| Shareholder | Ownership Percentage |
|---|---|
| Berkshire Hathaway | 20.2% |
| Vanguard Group | 8.3% |
| BlackRock | 6.7% |
Production Volumes
| Production Metric | 2023 Value |
|---|---|
| Total Oil Production | 1.2 million barrels per day |
| Natural Gas Production | 415 million cubic feet per day |
How Occidental Petroleum Corporation (OXY) Makes Money
Oil and Gas Production Segments
Occidental Petroleum generates revenue through three primary business segments:
- Oil and Gas Operations
- Chemical Manufacturing
- Midstream and Marketing Operations
Oil and Gas Production Revenue
| Production Region | Daily Production (Barrels) | Revenue Contribution |
|---|---|---|
| Permian Basin | 487,000 | $6.2 billion |
| International Operations | 215,000 | $2.8 billion |
Chemical Manufacturing Revenue
OXY's chemical division, OxyChem, generates annual revenue of $6.5 billion through production of:
- Caustic soda
- Chlorine
- Polyvinyl chloride (PVC)
Carbon Management Revenue
Carbon capture and storage operations generate approximately $1.2 billion annually through technological solutions and carbon credit sales.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $59.4 billion |
| Net Income | $7.8 billion |
| Operating Cash Flow | $10.2 billion |
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