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Occidental Petroleum's (OXY) stock price has shown significant fluctuations in recent weeks, with notable movements driven by market volatility and analyst sentiment. On the last trading day before the report on 1 Oct 2025, OXY's stock closed at approximately US$47.72 per share, following a slight decline from the previous week's high of US$48.10 [1]. This modest volatility reflects the ongoing uncertainty in the energy sector and the market's digestion of the company's recent announcements.

One of the key developments impacting OXY's stock price was the announcement of a US$9.7 billion all-cash sale of its OxyChem petrochemical division to Berkshire Hathaway. This deal, expected to close in the fourth quarter of 2025, aims to reduce OXY's debt and improve its leverage ratio [5]. The sale is significant as it represents Berkshire's largest acquisition since Alleghany in 2022, further solidifying Warren Buffett's interest in OXY [19]. The company plans to use US$6.5 billion of the proceeds to bring its principal debt below US$15 billion [6].

Analysts have been closely watching OXY's performance, with a "Hold" consensus among 22 analysts compiled by MarketBeat, with an average price target of US$54.32, implying a potential 13.8% upside from the current price [9]. Several banks have adjusted their targets recently, with Mizuho lowering its target to US$58 (Neutral) on 15 Sept and UBS raising it to US$46 (Neutral) [10]. Despite these adjustments, analysts generally view the sale of OxyChem as a strategic move to reduce debt and improve financial health.

The energy market context has also played a role in OXY's stock performance. Crude prices dropped to four-month lows at the start of October, with Brent falling to approximately US$65.35 per barrel and U.S. West Texas Intermediate (WTI) to US$61.78 [11]. These price movements, driven by oversupply concerns and geopolitical factors, have affected all oil producers, including OXY. Lower oil prices reduce cash flows but boost the case for asset sales and cost discipline.

In terms of management changes, OXY promoted Richard A. Jackson to Senior Vice President & Chief Operating Officer on 2 Oct 2025, positioning him to oversee global oil & gas operations, low-carbon technologies, and midstream/marketing [8]. This promotion reflects the company's focus on cost discipline and deleveraging, as well as its commitment to low-carbon technologies.

Overall, OXY's stock price reflects a mix of market volatility, analyst sentiment, and strategic moves by the company. The sale of OxyChem is a significant step towards reducing debt and improving financial health, but the ongoing uncertainty in the energy sector and market digestion of recent announcements continue to influence OXY's stock performance.