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Core Insights - Occidental Petroleum Corporation (OXY) is distinguished in the oil and gas sector due to its strategically integrated portfolio, which enhances operational efficiency and supports long-term growth in shareholder value [1] Upstream Operations - Occidental's upstream strength is highlighted by its leadership in the Permian Basin, where it possesses extensive low-cost acreage, leading to consistent production growth and operational efficiencies [2] - The integration of midstream operations allows Occidental to optimize transportation costs and maintain robust margins, even during price downturns [2] Chemical Manufacturing - OxyChem serves as a valuable hedge through the production of essential basic chemicals and PVC, contributing to earnings diversification and stabilizing overall performance amid fluctuating commodity prices [3] Capital Allocation and Financial Health - With a disciplined capital allocation strategy and ongoing debt reduction, Occidental is positioned to deliver sustainable shareholder returns, supported by its balanced portfolio across oil, gas, chemicals, and infrastructure [4] Integrated Business Model Benefits - Oil and gas companies benefit from integrated assets by enhancing cost efficiency, improving supply-chain control, and ensuring stable cash flows across fluctuating commodity cycles [5] Earnings Performance - Occidental has consistently beaten earnings estimates over the past four quarters, with an average surprise of 24.3% [7][9] Stock Valuation - Occidental's shares are currently trading at a premium, with a trailing 12-month EV/EBITDA of 5.27X compared to the industry average of 4.91X [10] - The company's shares have increased by 19.2% over the past three months, outperforming the Zacks Oil and Gas-Integrated-United States industry's growth of 12.4% [12]

Core Viewpoint - Occidental Petroleum Corporation (OXY) is experiencing a bullish trend as it trades above its 50-day simple moving average (SMA), driven by its focus on the Permian Basin and contributions from inorganic assets [1][3]. Performance Summary - OXY has rallied 22.2% in the past three months, outperforming the Zacks Oil and Gas – Integrated-United States industry and the S&P 500 Composite [6][8]. - The company has cut $6.8 billion in debt over the past 10 months, which has boosted income despite falling earnings estimates [8][12]. Key Drivers - Strategic acquisitions, including Anadarko Petroleum in 2019 and CrownRock L.P. in 2024, have significantly enhanced production volumes and top-line performance [10]. - International assets, such as Qatar's Dolphin gas project and Oman's Mukhaizna oilfields, are expected to contribute 226-236 thousand barrels of oil equivalents per day in 2025 [11]. - OXY's low-cost operations in the Permian Basin and systematic capital investment are expected to enhance well productivity and reduce lifting costs [12][13]. Financial Metrics - The Zacks Consensus Estimate for OXY's 2025 and 2026 earnings per share has decreased by 4.64% and 11.03%, respectively, in the past 60 days [15]. - OXY's return on equity (ROE) stands at 16.6%, slightly below the industry average of 16.89% [21]. - The current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) for OXY is 5.35X, compared to the industry average of 4.97X, indicating that OXY's shares are trading at a premium [25]. Conclusion - OXY's focus on debt reduction and strong domestic and international operations, along with benefits from recent acquisitions, are expected to support overall performance despite challenges from volatile commodity prices and declining earnings estimates [27].

Exhibit 99.1 Second Quarter 2025 Earnings Considerations Occidental Petroleum Corporation ("Occidental") is providing the following summary of earnings considerations that management believes will impact results for the second quarter of 2025. The summary is intended only to provide information regarding current estimates of these factors. It is not comprehensive of all results for and changes that have occurred in the second quarter of 2025 and is not an estimate of the second quarter of 2025 earnings for ...

Company Performance - Occidental Petroleum (OXY) closed at $46.31, with a daily increase of 1%, outperforming the S&P 500's decline of 0.33% [1] - Over the past month, shares have appreciated by 2.44%, underperforming the Oils-Energy sector's gain of 4.04% and the S&P 500's gain of 4.07% [1] Upcoming Financial Results - Occidental Petroleum is set to announce its earnings on August 6, 2025, with projected earnings of $0.33 per share, reflecting a year-over-year decline of 67.96% [2] - The consensus estimate for revenue is $6.43 billion, indicating a 6.46% decline compared to the same quarter last year [2] Annual Forecast - For the entire year, the Zacks Consensus Estimates forecast earnings of $2.26 per share and revenue of $26.55 billion, representing declines of 34.68% and 1.22% respectively compared to the previous year [3] Analyst Estimates and Stock Performance - Recent changes to analyst estimates for Occidental Petroleum may indicate shifts in near-term business trends, with positive alterations suggesting analyst optimism [3] - The Zacks Rank system, which assesses estimate changes, currently ranks Occidental Petroleum at 3 (Hold) [5] Valuation Metrics - Occidental Petroleum has a Forward P/E ratio of 20.33, which is a premium compared to the industry average Forward P/E of 17.45 [6] - The Oil and Gas - Integrated - United States industry is currently ranked 207 in the Zacks Industry Rank, placing it in the bottom 17% of over 250 industries [6]

Group 1 - The core viewpoint is that Canadian Imperial Bank of Commerce has raised the target price for Occidental Petroleum (OXY.N) from $40 to $45 [1]

Core Insights - Occidental Petroleum Corporation (OXY) is positioned as a leading U.S. oil and gas producer with a diversified portfolio focused on high-return basins, particularly the Permian [2] - The acquisition of Anadarko Petroleum in 2019 significantly enhanced Occidental's production capabilities and reserve base in the Permian Basin [3] - The subsequent acquisition of CrownRock L.P. in 2024 added high-margin production and low-breakeven inventory to Occidental's portfolio [4] - Occidental's investments in carbon management and low-carbon ventures reflect its ambition to lead in the energy transition [4] - The combination of high-quality upstream assets, strategic acquisitions, and decarbonization leadership strengthens Occidental's investment appeal [5] Acquisitions and Performance - Acquisitions in the oil and gas sector enhance asset bases, operational efficiency, and cost synergies, supporting improved performance amid volatile commodity prices [6] - Other companies like Devon Energy and Chevron have also enhanced their portfolios through strategic acquisitions [7] Earnings Performance - Occidental has consistently beaten earnings estimates in the past four quarters, with an average surprise of 24.34% [8] - The reported earnings for the last four quarters were 0.87, 0.80, 1.00, and 1.03, compared to estimates of 0.73, 0.67, 0.80, and 0.77, respectively [9] Stock Performance - Occidental's stock rose 21% in three months, outperforming its industry's growth of 12.6% [10] - The company's return on equity (ROE) was 16.6%, slightly below the industry average of 16.89% [11] - In the last three months, Occidental's shares gained 25%, compared to a 16% rise in the Zacks Oil and Gas-Integrated-United States industry [13]

Core Viewpoint - Occidental Petroleum is facing a challenging earnings outlook with anticipated declines in both earnings per share (EPS) and revenue compared to the previous year [2][3]. Group 1: Recent Performance - Occidental Petroleum's stock closed at $43.35, reflecting a -1.03% change from the previous day, underperforming the S&P 500's loss of 0.79% [1]. - Over the past month, the company's shares gained 2.96%, which is lower than the Oils-Energy sector's gain of 6.03% and the S&P 500's gain of 5.22% [1]. Group 2: Upcoming Earnings - The company's earnings report is scheduled for August 6, 2025, with an expected EPS of $0.36, indicating a significant decline of 65.05% year-over-year [2]. - Quarterly revenue is projected to be $6.45 billion, down 6.28% from the same period last year [2]. Group 3: Full-Year Estimates - For the full year, the Zacks Consensus Estimates predict earnings of $2.3 per share and revenue of $26.54 billion, representing year-over-year declines of -33.53% and -1.27%, respectively [3]. Group 4: Analyst Forecasts - Recent revisions to analyst forecasts for Occidental Petroleum are crucial as they reflect changing business trends, with positive changes indicating analyst optimism [4]. Group 5: Zacks Rank and Valuation - The Zacks Rank system currently rates Occidental Petroleum as 3 (Hold), with a recent upward shift of 3.94% in the EPS estimate [6]. - The company is trading at a Forward P/E ratio of 19.08, which is higher than the industry average Forward P/E of 16.33 [7].

Core Insights - Occidental Petroleum Corporation (OXY) has made significant strides in improving its balance sheet and enhancing shareholder returns since acquiring Anadarko in 2019, reducing debt by $6.8 billion in the last 10 months, which has decreased annual interest expenses by $370 million and boosted net income [1][8] - The company has a strong free cash flow supported by low-cost, high-margin operations in the Permian Basin, which, along with contributions from international assets, allows for a dual focus on debt reduction and shareholder returns [2][8] - Occidental's diversified asset base, including its OxyChem segment and carbon capture initiatives, provides resilience and optionality to earnings, positioning the company as a potential player in the long-term energy transition [3][4] Financial Performance - In 2024, Occidental increased its dividend by 22%, reflecting management's commitment to sustainable and disciplined capital returns [2][8] - The company's operational efficiency and broad cash flow streams create a strong foundation for maintaining and gradually increasing dividends over time, despite exposure to commodity price fluctuations [4][8] - Occidental's earnings have consistently beaten estimates in the last four quarters, with an average surprise of 24.34% [7][9] Market Position - Occidental's return on invested capital (ROIC) stands at 6.26%, slightly below the industry average of 6.61% [9] - The company's stock has gained 8.4% over the last three months, outperforming the Zacks Oil and Gas-Integrated-United States industry's rise of 8% [11]

Industry Overview - The Zacks Oil & Gas US Integrated industry includes companies involved in upstream and midstream energy businesses, focusing on oil and natural gas exploration and production, as well as transportation and refining activities [3] - The upstream business is closely linked to oil and gas prices, with midstream assets generating stable fee-based revenues [3] Current Trends - The pricing environment for crude oil is expected to soften significantly, with the U.S. Energy Information Administration projecting the West Texas Intermediate spot average price at $62.33 per barrel for this year, down from $76.60 the previous year, which will negatively impact upstream operations [4] - A slowdown in oil production growth is occurring due to shareholder demands for capital returns over production expansion, leading to reduced revenues as upstream operations rely heavily on volume [5] - Growing demand for renewable energy is creating uncertainty for integrated energy firms, as the shift towards solar and wind energy is expected to decrease reliance on fossil fuels [6] Industry Performance - The Zacks Oil & Gas US Integrated industry currently holds a Zacks Industry Rank of 204, placing it in the bottom 17% of over 250 Zacks industries, indicating a bearish outlook [7][8] - Over the past year, the industry has underperformed the broader Zacks Oil - Energy sector and the S&P 500, declining by 12.9% compared to a 0.3% gain for the sector and a 12.9% increase for the S&P 500 [10] Valuation Metrics - The industry is currently trading at an EV/EBITDA ratio of 4.79X, lower than the S&P 500's 17.49X but slightly higher than the sector's 4.78X [14] - Historically, the industry has traded between 3.36X and 14.40X over the past five years, with a median of 5.10X [14] Notable Companies - ConocoPhillips (COP) has a strong production outlook with lower debt exposure, positioning it well to handle adverse business conditions [17] - Occidental Petroleum (OXY) has a significant presence in key shale plays and achieved a reserve replacement rate of 230% in 2024 [20] - National Fuel Gas (NFG) is focused on developing resources in the Marcellus and Utica shale plays and has a long history of dividend payments [23] - Epsilon Energy (EPSN) is well-positioned to benefit from clean energy demand, with stable cash flows and no debt [26]