Occidental Petroleum Corporation (OXY), headquartered in Houston, Texas, has established itself as one of the largest names in the energy industry through its oil and gas exploration, production, transportation, and marketing operations. Today, the company carries a market cap of approximately $54.6 billion.
Beyond its core energy business, Occidental also operates OxyChem, its chemical manufacturing division, while expanding its carbon management portfolio through technologies such as direct air capture.
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The company's next major catalyst arrives on Wednesday, Aug. 5, when Occidental Petroleum will release its Q2 FY2026 financial results after the market closes. Wall Street expects diluted EPS of $1.95, representing a massive 400% jump from $0.39 reported in the same quarter last year. Occidental has also cleared analysts' earnings estimates in each of the last four quarters, which is noteworthy.
Moreover, analysts expect the company to maintain that strength through the rest of the year. Current estimates call for full-year FY2026 diluted EPS of $5.66, reflecting year-over-year growth of 156.1%. The picture changes beyond that, though, as analysts forecast full-year FY2027 diluted EPS to ease 30.7% from the previous year to $3.92.
www.barchart.comThe stock has reflected much of that optimism over the past year. OXY stock climbed 26% during the last 52 weeks, comfortably outperforming the S&P 500 Index ($SPX), which gained 18.4% over the same period. The gap has remained wide in 2026 as well. OXY stock advanced 33.4% year-to-date (YTD), whereas the broader index returned 8.9%.
The energy sector, however, has managed to stay one step ahead in the long term. The State Street Energy Select Sector SPDR ETF (XLE) has risen 33.1% over the past 52 weeks. However, the ETF’s 29% YTD gain still trails that of Occidental Petroleum.
www.barchart.comFresh buying interest also returned to Occidental at the end of last week. The stock added 2.3% on Friday, July 17, as geopolitical tensions continued to fuel higher crude oil prices. Rising oil prices strengthened investor appetite for oil producers and refiners, lifting energy stocks across the board and giving Occidental another tailwind.
Wall Street's overall stance remains constructive. OXY stock currently carries an overall “Moderately Buy” rating. Among the 25 analysts covering the company, seven recommend “Strong Buy,” one assigns a “Moderate Buy” rating, and 17 maintain "Hold" ratings.
Their price targets also point to further upside. The average target of $63.76 implies potential upside of 16.2%, while the Street-High target of $75 suggests a gain of 36.7% from the current share price.
On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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