XOM vs OXY — which stock performed better?

ExxonMobil (XOM) versus Occidental Petroleum (OXY), Energy, on 2026-10-23.

Result

ExxonMobil (XOM) performed better on 2026-10-23. XOM moved 2.140%, OXY moved 1.740%.

Why these two companies

Crude oil surged past $111 a barrel on Thursday, October 22, 2026, after Iran's Revolutionary Guard claimed strikes on seven vessels near the Strait of Hormuz, extending the Middle East supply-disruption trade that has already pushed energy stocks to multi-month highs. ExxonMobil set a fresh 52-week high of $179.30 on October 19, 2026 as the rally built, while Berkshire-backed Occidental Petroleum - a more concentrated bet on crude prices - still trades further below its own 52-week peak, framing a debate between a diversified major and a leveraged pure-play producer on an oil-driven news day.

The research

ExxonMobil is one of the world's largest oil and gas companies - it drills for crude oil and natural gas, and also turns oil into gasoline and chemicals. Occidental Petroleum mainly focuses on pumping oil and gas, especially from West Texas, and is well known for being a major holding of Warren Buffett's Berkshire Hathaway.

One reason to like ExxonMobil is its size and variety of businesses - when oil prices swing, its fuel-refining and chemical operations can help smooth out the ride, and its shares closed within about 1% of their highest price of the year on October 21, 2026.

One reason to like Occidental Petroleum is that it benefits more directly when oil prices jump, as they did on October 22, 2026 after Iran said it struck several ships near a key shipping route - a company that mostly just pumps oil can see bigger stock swings on days like that.

Keep in mind that both companies' stocks are closely tied to day-to-day oil-price headlines out of the Middle East, and neither company has a confirmed earnings report before this matchup, so the price reaction is likely to be driven mostly by crude prices rather than fresh company news.