Occidental Petroleum Corporation (NYSE:OXY) is listed among the 13 Best Blue Chip Stocks to Buy Under $50. BofA analyst Jean Ann Salisbury reduced OXY’s price target to $44 from $45 on December 11, maintaining a Neutral rating.

Berkshire Hathaway will purchase Occidental’s chemical division, OxyChem, for $9.7 billion in cash. OxyChem is a major global producer of commodity chemicals used in various industries, from healthcare to construction.

CEO Vicki Hollub mentioned during Q3 2025 earnings update that selling OxyChem is part of Occidental’s strategic shift to strengthen its balance sheet, increase returns to shareholders, and allocate capital to high-return projects in core oil and gas operations.

Occidental Petroleum Corporation (NYSE:OXY) operates in the United States, the Middle East, and North Africa as a global energy company.

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No disclosures were made regarding the news.

Read more at Yahoo Finance: BofA Trims Occidental Petroleum (OXY) Target to $44