Zacks Research Issues Pessimistic Outlook for OXY Earnings

Occidental Petroleum Corporation (NYSE:OXY - Free Report) - Research analysts at Zacks Research cut their Q2 2026 earnings per share (EPS) estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Wednesday, July 9th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.58 per share. Zacks Research also issued estimates for Occidental Petroleum's Q3 2026 earnings at $0.56 EPS, Q4 2026 earnings at $0.46 EPS, FY2026 earnings at $2.10 EPS and Q2 2027 earnings at $0.73 EPS.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.20% and a return on equity of 16.60%. The company's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share.

A number of other equities research analysts also recently weighed in on OXY. Citigroup lifted their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. UBS Group cut their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Mizuho cut their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.62.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded up $0.48 during trading hours on Friday, hitting $46.33. The company had a trading volume of 7,596,749 shares, compared to its average volume of 11,909,857. The firm has a 50-day moving average of $43.05 and a 200 day moving average of $45.29. The firm has a market cap of $45.59 billion, a PE ratio of 18.83 and a beta of 0.84. Occidental Petroleum has a one year low of $34.79 and a one year high of $64.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.07%. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum during the 4th quarter worth about $32,000. Grove Bank & Trust raised its position in shares of Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at about $39,000. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.