Zacks Research Issues Pessimistic Outlook for OXY Earnings

Occidental Petroleum Corporation (NYSE:OXY - Free Report) - Research analysts at Zacks Research lowered their Q2 2026 earnings per share estimates for Occidental Petroleum in a note issued to investors on Wednesday, July 9th. Zacks Research analyst J. Saha now forecasts that the oil and gas producer will post earnings per share of $0.52 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 posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share.

OXY has been the subject of a number of other reports. Barclays raised their price target on Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their price target on Occidental Petroleum from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Citigroup raised their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Susquehanna cut their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.38.

Occidental Petroleum Stock Up 0.6%

OXY stock opened at $45.87 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average price of $42.94 and a two-hundred day moving average price of $45.32. The company has a market cap of $45.14 billion, a price-to-earnings ratio of 18.64 and a beta of 0.84. Occidental Petroleum has a twelve month low of $34.79 and a twelve month high of $64.76.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the 4th quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the 4th quarter valued at $32,000. Grove Bank & Trust raised its holdings in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares in the last quarter. Finally, American National Bank & Trust bought a new position in shares of Occidental Petroleum in the 1st quarter valued at $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.09%. Occidental Petroleum's dividend payout ratio is presently 39.02%.

About Occidental Petroleum

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.

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