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

Occidental Petroleum (NYSE:OXY) issued its quarterly earnings data on Wednesday. The oil and gas producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57, Zacks reports. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS.

Occidental Petroleum Stock Performance

OXY stock traded up $2.69 during midday trading on Thursday, reaching $56.50. 11,876,868 shares of the company’s stock traded hands, compared to its average volume of 13,300,148. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum has a 52-week low of $38.80 and a 52-week high of $67.45. The stock has a market cap of $56.19 billion, a P/E ratio of 14.23, a PEG ratio of 0.81 and a beta of 0.15. The stock’s 50-day moving average is $54.25 and its 200 day moving average is $54.29.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.0%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 26.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OXY shares. Morgan Stanley decreased their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, June 26th. Citigroup cut their price objective on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, July 8th. Susquehanna boosted their target price on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.30.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Q2 earnings and revenue beat expectations: Adjusted earnings were $2.40 per share versus consensus estimates of $1.83-$1.92, while revenue reached approximately $8.07 billion compared with expectations near $7.07 billion. Earnings rose sharply from $0.39 per share a year earlier, supported by higher realized oil prices and stronger midstream results. Occidental Q2 Earnings Beat on Oil Prices and Midstream Strength
• Positive Sentiment: Production exceeded guidance: Global production averaged 1.433 million barrels of oil equivalent per day, above the high end of management’s forecast. Midstream and marketing income also surpassed guidance, indicating broad-based operating strength.
• Positive Sentiment: Debt reduction and shareholder returns improved: Occidental reduced principal debt by $1.9 billion to $11.8 billion and raised its quarterly dividend to $0.28 per share. These moves reinforce the investment case around cash-flow generation and financial deleveraging. Occidental Announces Second Quarter 2026 Results
• Positive Sentiment: Analyst support strengthened: Barclays raised its price target from $72 to $75 and maintained an “overweight” rating, implying substantial potential upside from recent trading levels. The median target among 15 analysts is reported at $66.
• Neutral Sentiment: Insider and institutional activity was mixed: CEO Richard Jackson purchased 4,770 shares, while recent institutional filings showed both sizable additions and reductions by major investors. These signals provide context but are less significant than the earnings results.
• Negative Sentiment: Commodity-price and geopolitical risks remain: Occidental’s improved results benefited from higher oil prices, leaving future earnings exposed to oil-price volatility. Reports that crude prices weakened amid U.S.-Iran peace talks could temper enthusiasm if sustained. Occidental Petroleum in Focus as Oil Slides on US-Iran Peace Talks

Insider Activity

In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer directly owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in Occidental Petroleum by 2.1% in the fourth quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after buying an additional 828,848 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the period. Invesco Ltd. grew its stake in shares of Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Occidental Petroleum by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,390,549 shares of the oil and gas producer’s stock worth $221,659,000 after acquiring an additional 184,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Occidental Petroleum by 54.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after acquiring an additional 1,393,638 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.