5 Biggest Exploration and Production Companies in the World

4. Occidental Petroleum Corporation (NYSE:OXY)

Market Capitalization as of November 17th, 2022: $64.9 billion

Occidental Petroleum Corporation (NYSE:OXY) is an exploration and production company that has properties in the U.S., Middle East, Latin America, and Africa. The firm both extracts oil and gas and transports the fuels through its midstream assets. It is headquartered in Houston, Texas.

Occidental Petroleum Corporation (NYSE:OXY) is one of the best performing stocks on the Standard and Poor 500 index this year, as its shares are up by a massive 130% year to date. This growth comes two years after the firm’s shares were trading at a paltry $9 per share during the coronavirus pandemic in 2020. It is also on a debt reduction spree and has reduced debt by an impressive 50% so far.

By the end of this year’s third quarter, 74 out of the 920 hedge funds polled by Insider Monkey had invested in Occidental Petroleum Corporation (NYSE:OXY).

Occidental Petroleum Corporation (NYSE:OXY)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns 194 million shares that are worth $11 billion.