Occidental Petroleum Makes Most of Its Money on Oil and Gas (but Its Future Profit Growth Drivers Could Lie Elsewhere)

Occidental Petroleum (OXY 4.90%) is a unique oil stock. It's not a fully integrated energy company like Exxon or Chevron since it doesn't operate refineries. However, it's not a pure-play independent producer, either, since it has three other business segments (chemicals, midstream, and lower carbon).That diversification paid off in 2023 as the company's chemicals segment had a strong year. It showcases the company's differentiated strategy, which will become a more apparent growth catalyst in the coming ye ...