Zacks Research Brokers Reduce Earnings Estimates for OXY

Occidental Petroleum Corporation (NYSE:OXY) – Analysts at Zacks Research lowered their Q2 2026 earnings per share (EPS) estimates for shares of Occidental Petroleum in a research report issued to clients and investors on Wednesday, December 17th. Zacks Research analyst Team now anticipates that the oil and gas producer will post earnings of $0.26 per share for the quarter, down from their prior forecast of $0.27. 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 FY2026 earnings at $1.23 EPS, Q2 2027 earnings at $0.29 EPS and FY2027 earnings at $1.70 EPS.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.

Several other brokerages also recently commented on OXY. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 12th. UBS Group cut their price target on shares of Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Mizuho raised their price target on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. HSBC lowered their price objective on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price on shares of Occidental Petroleum in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.95.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $39.75 on Friday. The business has a fifty day moving average price of $41.46 and a 200-day moving average price of $43.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The company has a market capitalization of $39.16 billion, a PE ratio of 29.23 and a beta of 0.39. Occidental Petroleum has a 1-year low of $34.78 and a 1-year high of $53.20.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 70.59%.

Insider Activity at Occidental Petroleum

In other news, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the transaction, the director owned 218,913 shares in the company, valued at $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Occidental Petroleum in the second quarter worth approximately $27,000. City Holding Co. raised its position in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares during the period. Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $35,000. Hantz Financial Services Inc. increased its stake in shares of Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. Finally, GoalVest Advisory LLC bought a new position in Occidental Petroleum in the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.