Zacks Research Comments on Occidental Petroleum Co.'s Q1 2026 Earnings (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY - Free Report) - Zacks Research reduced their Q1 2026 earnings per share estimates for shares of Occidental Petroleum in a report released on Wednesday, August 28th. Zacks Research analyst J. Saha now anticipates that the oil and gas producer will earn $1.09 per share for the quarter, down from their previous estimate of $1.31. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.69 per share. Zacks Research also issued estimates for Occidental Petroleum's Q2 2026 earnings at $1.23 EPS.

OXY has been the topic of a number of other research reports. Stephens reaffirmed an "overweight" rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Occidental Petroleum from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. Wolfe Research started coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 price objective for the company. UBS Group increased their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Truist Financial decreased their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a "hold" rating for the company in a report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $71.69.

Occidental Petroleum Stock Down 0.4 %

Shares of OXY stock traded down $0.23 during trading hours on Monday, hitting $56.98. 9,622,300 shares of the company were exchanged, compared to its average volume of 8,303,866. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market capitalization of $50.52 billion, a price-to-earnings ratio of 15.57 and a beta of 1.61. Occidental Petroleum has a one year low of $55.04 and a one year high of $71.18. The business's 50-day simple moving average is $59.68 and its two-hundred day simple moving average is $62.08.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. Occidental Petroleum's dividend payout ratio (DPR) is 24.04%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of Occidental Petroleum stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $59.67 per share, with a total value of $82,752,981.48. Following the completion of the acquisition, the insider now directly owns 250,583,605 shares of the company's stock, valued at approximately $14,952,323,710.35. The disclosure for this purchase can be found here. Insiders bought 4,656,747 shares of company stock worth $278,664,028 over the last ninety days. Company insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer's stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the second quarter valued at $92,433,000. Clean Energy Transition LLP acquired a new stake in shares of Occidental Petroleum in the first quarter worth $67,601,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the second quarter valued at $63,880,000. Finally, Scharf Investments LLC acquired a new position in Occidental Petroleum during the second quarter valued at $42,744,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.