Occidental Petroleum has reduced its debt by $15.6 billion over the past 22 months, cutting annual interest expenses by more than $830 million. The company has lowered its principal debt to $13 billion and is targeting a $10 billion debt level, with the deleveraging expected to create lasting shareholder value. A leaner balance sheet enhances Occidental's ability to navigate commodity price volatility and invest in high-return growth opportunities, including its core Permian Basin operations and low-carbon businesses such as carbon capture. The Zacks Consensus Estimate for Occidental's 2026 and 2027 earnings per share has risen by 27.53% and 26.92%, respectively, over the past 60 days, and the stock has gained 29.7% in the past six months, outperforming the Zacks Oil and Gas-Integrated-United States industry's 17.8% rally. Occidental's trailing 12-month return on invested capital stands at 4.03%, above the industry average of 3.88%, and the stock currently carries a Zacks Rank #3 (Hold).
Occidental Petroleum CorporationOccidental reduced debt by $15.6B, cutting interest expenses and improving balance sheet, with EPS estimates rising.
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