Occidental Petroleum vs Exxon Mobil: The Better Oil Titan For 2026

2 hours ago 4

Vandita Jadeja

Thu, May 28, 2026 astatine 10:01 AM CDT 4 min read

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Occidental Petroleum (OXY) sold its chemicals part to Berkshire Hathaway for $5.8B successful indebtedness simplification to $15B and raised its dividend 8% to $0.26 per share.
Exxon Mobil (XOM) reported Q1 2026 adjusted EPS of $1.16 (beating statement by 15%), loaded its archetypal Golden Pass LNG cargo, and deployed $4.9B successful banal buybacks arsenic Guyana accumulation deed 900,000 barrels per day. Both stocks are up substantially twelvemonth to day with Occidental astatine 11x guardant P/E and Exxon astatine 14x.
Occidental is deleveraging into a pure-play Permian driller nether simplified strategy, portion Exxon is compounding net done diversified planetary production, LNG exports, and systematic superior returns with 43 consecutive years of dividend growth.
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Occidental Petroleum (NYSE:OXY) and Exxon Mobil (NYSE:XOM) conscionable closed net chapters that work similar other playbooks. Occidental wrapped fiscal 2025 by selling its chemicals limb to Berkshire and shrinking into a focused driller.

Exxon opened Q1 2026 by loading its archetypal Golden Pass LNG cargo and buying backmost astir $5 cardinal successful stock. With WTI astatine $101.56, the examination matters.

The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Occidental Petroleum wasn't 1 of them. Get them present FREE.

Shrinking Pure-Play Meets Scaling Supermajor

Occidental's Q4 was astir subtraction. Adjusted EPS came successful astatine $0.31 connected gross of $5.42 billion, with a $68 cardinal nett nonaccomplishment tied to the OxyChem sale. Production bushed guidance astatine 1,481 Mboed, and the Permian carried the quarter.

CEO Vicki Hollub framed the infinitesimal plainly: "With our enhanced equilibrium expanse pursuing the merchantability of OxyChem, we stay focused connected generating resilient escaped currency flow." The Berkshire woody chopped main indebtedness by $5.8 cardinal to $15 billion, and the dividend roseate 8% to $0.26 per share.

Exxon's 4th was astir standard absorbing shocks. Adjusted EPS deed $1.16, beating the $1.01 statement by 15.15%, portion gross of $85.14 cardinal landed astir successful line. Headline nett income of $4.18 cardinal absorbed $3.88 cardinal successful mark-to-market derivative timing and $706 cardinal successful Middle East disruption losses. Underlying net were $8.77 billion. Guyana cleared 900,000 gross barrels per day, a record.

A Deleveraging Story vs. a Compounding Machine

Lens	Occidental	Exxon
Core bet	Permian focus, wage down debt	Guyana, Permian, LNG, refining
Q1 2026 buybacks	None highlighted	$4.9 billion
Forward P/E	11x	14x
Dividend yield	1.64%	2.56%

Hollub is simplifying. Woods is compounding. Exxon's structural outgo savings since 2019 reached $15.6 billion, with a $20 cardinal buyback planned for 2026 and 43 consecutive years of dividend growth. Occidental's beta of 0.17 understates its operating leverage to crude. That debased guardant aggregate is the marketplace pricing a indebtedness overhang that is present meaningfully smaller.

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