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

Key Points

• Occidental Petroleum beat quarterly earnings expectations, reporting $2.40 EPS versus the $1.83 consensus estimate, while revenue rose approximately 53% year over year to about $8.07 billion.
• Despite the strong results, OXY shares fell 2.3% to $53.80, as declining oil prices and concerns about commodity volatility weighed on investor sentiment.
• Analysts maintain a consensus “Hold” rating with an average price target of $64.17, while recent targets ranged from $58 to $75; CEO Richard A. Jackson also purchased nearly $250,000 of company stock.

Occidental Petroleum (NYSE:OXY - Get Free Report) announced its quarterly earnings results on Wednesday. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm's revenue was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share.

Occidental Petroleum Trading Down 2.3%

Shares of OXY traded down $1.29 during trading hours on Wednesday, reaching $53.80. The stock had a trading volume of 8,588,395 shares, compared to its average volume of 8,995,355. The company has a market cap of $53.52 billion, a P/E 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 quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average of $54.25 and a 200 day moving average of $54.29.

Key Occidental Petroleum News

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

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, CEO Richard A. Jackson purchased 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company's stock, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company's stock.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently bought and sold shares of OXY. Caitlin John LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $29,000. Binnacle Investments Inc bought a new stake in Occidental Petroleum in the 3rd quarter valued at $35,000. Rossby Financial LCC boosted its stake in Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the period. McMillan Office Inc. bought a new position in Occidental Petroleum during the 4th quarter worth about $35,000. Finally, DV Equities LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $40,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on OXY shares. Raymond James Financial boosted their target price on Occidental Petroleum from $64.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Susquehanna lifted their price target on Occidental Petroleum from $60.00 to $67.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. Zacks Research lowered shares of Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Jefferies Financial Group increased their price target on shares of Occidental Petroleum from $47.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, April 13th. Finally, Weiss Ratings downgraded Occidental Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $64.17.

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.

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