Occidental Petroleum (NYSE:OXY – Get Free Report) posted 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 return on equity of 15.93% and a net margin of 28.36%.The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue was up 53.4% compared to the same quarter last year.
Occidental Petroleum Price Performance
Shares of OXY traded up $0.02 during mid-day trading on Friday, hitting $56.06. The company’s stock had a trading volume of 4,613,277 shares, compared to its average volume of 13,272,766. Occidental Petroleum has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The stock has a market capitalization of $55.76 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.79 and a beta of 0.15. The firm has a 50-day moving average price of $54.22 and a 200 day moving average price of $54.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01.
Occidental Petroleum Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.28 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Occidental Petroleum’s payout ratio is 16.10%.
Analysts Set New Price Targets
Check Out Our Latest Report on Occidental Petroleum
Trending Headlines about Occidental Petroleum
Here are the key news stories impacting Occidental Petroleum this week:
- Positive Sentiment: Q2 earnings significantly beat expectations: Adjusted earnings were $2.40 per share on approximately $8.07 billion in revenue, versus consensus estimates of $1.83 EPS and $7.07 billion in revenue. Results benefited from higher realized oil prices, production above guidance and stronger midstream and marketing performance. Occidental Q2 Earnings Beat on Oil Prices and Midstream Strength
- Positive Sentiment: Cash flow and balance-sheet progress strengthened the investment case: Occidental reported its strongest quarterly free cash flow since 2022 and reduced principal debt by $1.9 billion to $11.8 billion, the company’s lowest debt level in seven years. Management outlined a path toward more than $4 billion in annual sustainable cash-flow gains by 2030 through lower costs, reduced capital requirements and further deleveraging. OXY Q2 Earnings Call Maps $4B Cash Flow Path to 2030
- Positive Sentiment: Shareholder returns and analyst sentiment improved: OXY raised its quarterly dividend 7.7% to $0.28 per share. Wells Fargo raised its price target to $79 from $72 and Barclays increased its target to $75 from $72; both firms assigned an “overweight” rating. Analyst Price Target Updates
- Neutral Sentiment: 2027 plans emphasize discipline rather than growth: Occidental expects production and capital spending to remain roughly flat next year while continuing to prioritize debt repayment. This supports financial stability but offers limited near-term production growth. Occidental Sees Flat Spending and Output in 2027
Insider Activity
In related news, CEO Richard A. Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Hedge Funds Weigh In On Occidental Petroleum
Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after acquiring an additional 1,071,948 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $29,000. Delta Global Management LP raised its holdings in Occidental Petroleum by 9.2% during the fourth quarter. Delta Global Management LP now owns 59,230 shares of the oil and gas producer’s stock valued at $2,436,000 after buying an additional 5,000 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $956,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Occidental Petroleum by 159.2% during the 4th quarter. Mackenzie Financial Corp now owns 105,052 shares of the oil and gas producer’s stock worth $4,347,000 after buying an additional 64,527 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.
Featured Articles
- Five stocks we like better than Occidental Petroleum
- Datadog’s Drop Says More About Expectations Than Earnings
- D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off
- Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus
- Solventum Nears Inflection Point As It Begins to Unlock Value
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.
