"Occidental Petroleum ( NYSE:OXY) has surged 30.37% year-to-date, and the catalyst accelerating that move is the same one rattling global energy markets: the death of Iranian Supreme Leader Ayatollah Ali Khamenei on February 28, 2026, which triggered fears of Strait of Hormuz supply disruptions and sent WTI crude to $71.13 per barrel, up 10.3% over the past month."
"Berkshire Hathaway closed its acquisition of OXY's chemicals unit, OxyChem, on January 2, 2026, with OXY using proceeds to slash principal debt by $5.8 billion, bringing total debt to $15.0 billion. The leaner balance sheet, combined with a Q4 2025 production beat of 1,481 Mboed and an 8% dividend increase to $0.26 per share quarterly, validates the strategic pivot CEO Vicki Hollub has been executing."
"Chevron ( NYSE:CVX) delivered 23.26% gains year-to-date and generated a record $33.9 billion in operating cash flow for full-year 2025, returning $27.1 billion to shareholders through buybacks and dividends. Its quarterly dividend of $6.84 annually per share represents a 3.6% yield at current prices near $186."
Occidental Petroleum has surged 30.37% year-to-date following geopolitical tensions in the Middle East after Iran's Supreme Leader's death on February 28, 2026, which raised Strait of Hormuz supply disruption fears and pushed WTI crude to $71.13 per barrel. Occidental's strategic improvements include Berkshire Hathaway's acquisition of OxyChem, debt reduction to $15.0 billion, Q4 production beat of 1,481 Mboed, and an 8% dividend increase. However, the stock trades at 27x forward P/E near $53.61, above analyst consensus of $51.88, suggesting much upside is priced in. Chevron and ConocoPhillips also benefited from the geopolitical catalyst, with Chevron generating record $33.9 billion operating cash flow in 2025 and ConocoPhillips trading at a more attractive 18x trailing P/E.
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