Occidental Petroleum (NYSE:OXY) Posts Earnings Results, Beats Expectations By $0.57 EPS

Occidental Petroleum (NYSE:OXY) released its earnings results on Wednesday. The oil and gas producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57, Zacks reports. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s revenue was up 53.4% compared to the same quarter last year.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded down $1.29 during trading hours on Wednesday, reaching $53.80. 8,588,395 shares of the stock were exchanged, compared to its average volume of 8,995,355. The stock’s fifty day simple moving average is $54.25 and its 200 day simple moving average is $54.29. The firm has a market capitalization of $53.52 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.81 and a beta of 0.15. Occidental Petroleum has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum News Summary

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Q2 results significantly exceeded expectations. Occidental reported adjusted earnings of $2.40 per share, above consensus estimates ranging from $1.83 to $1.92 and up sharply from $0.39 a year earlier. Revenue increased roughly 52%–53% year over year to approximately $8.07 billion, also topping expectations. Occidental Petroleum Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: The earnings growth was supported by stronger operating performance, while analysts had highlighted debt reduction and cash flow generation as potential catalysts ahead of the report. Occidental posted a 19.98% net margin and 9.65% return on equity. Occidental Petroleum Reports Upbeat Q2
• Neutral Sentiment: Management announced the results after the market close and scheduled a conference call for August 6. Investors may look for additional details on production, cash flow, debt repayment and the outlook. Occidental Announces Second Quarter 2026 Results
• Negative Sentiment: Falling oil prices pressured the stock. Reports linked the decline in crude prices to US-Iran peace-talk developments, raising concerns that lower commodity prices could reduce Occidental’s future revenue and cash flow. Occidental Petroleum in Focus as Oil Slides on US-Iran Peace Talks
• Negative Sentiment: Despite the earnings beat, analysts cautioned that commodity volatility and a relatively premium valuation could limit further upside. A recent pullback may reflect investor concerns about the company’s longer-term fundamentals rather than a lack of quarterly execution. Occidental Petroleum Set to Report Q2 Earnings

Analyst Ratings Changes

Several brokerages have recently weighed in on OXY. Scotiabank raised their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Jefferies Financial Group lifted their price objective on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Mizuho lifted their price target on Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Truist Financial reduced their target price on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.17.

Insiders Place Their Bets

In other news, CEO Richard A. Jackson acquired 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Woodline Partners LP grew its position in Occidental Petroleum by 40.7% during the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after buying an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new position in Occidental Petroleum in the second quarter valued at about $4,584,000. Federated Hermes Inc. grew its stake in Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after buying an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Occidental Petroleum by 7.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after buying an additional 7,285 shares during the period. Finally, AXA S.A. lifted its holdings in shares of Occidental Petroleum by 24.3% during the 2nd quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock worth $5,740,000 after acquiring an additional 26,741 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.