Track market-moving stories before they get noisy

9.9.2026 17:18

Index Dow Jones -0,78 % na 52374,21 b. S&P 500 -0,56 % na 7630,36 b. Nasdaq Composite -0,78 % na 26216,41 b.

Ve středeční seanci americké indexy otevírají v červených úrovních, když hlavní příčinou poklesu je eskalující konflikt mezi USA a Iránem, včetně uzavřeného Hormůzského průlivu. K dalšímu bombardování ze strany Iránu došlo poté, co USA zaútočily a zničily pět íránských ropných tankerů, čímž zintenzivnily konflikt s Teheránem, který se táhne již šest měsíců. Vzhledem k tomu, že si obě strany vyměňují další útoky, naděje na brzké vyřešení bojů se vytratily. Během návštěvy Kolumbie americký ministr zahraničí Marco Rubio naznačil, že odvetné útoky pravděpodobně brzy neustanou, a varoval Írán, že „ztratí tankery“, když se pokusí „zasáhnout americké válečné lodě“. Investory  a celý svět tak nyní trápí nárůst cen ropy, který oživil obavy, že vyšší náklady na energie by mohly udržet inflaci na vysoké úrovni a přesvědčit centrální banky k zpřísnění politiky. Výnosy amerických státních dluhopisů se v této souvislosti zvýšily. Referenční výnos 10letých amerických státních dluhopisů se v úterý krátce dostal nad 4,8 %, což je blízko nejvyšší úrovně od listopadu 2023, což zvýšilo relativní atraktivitu dluhopisů a zvýšilo náklady na půjčky pro firmy a spotřebitele. Trhy a investoři se nyní  zaměřují na údaje o inflaci v USA, které mají být zveřejněny koncem tohoto týdne, přičemž se očekává, že index spotřebitelských cen v pátek poskytne nové vodítka o směru politiky Fedu. Podle názoru analytiků rostou sázky na zvýšení úrokových sazeb ze strany FEDu v příštím týdnu a to v souvislosti s obnovenými obavami z inflace. Podle CME FedWatch trhy odhadovaly pravděpodobnost nárůstu o čtvrtinu bazického bodu zhruba na 60 %, oproti zhruba 40 % před týdnem.

V centru dění je dnes ropa a proražení ceny Brentu nad 100 USD/barel je pro trhy významným psychologickým milníkem, ale větší obavou je, co to znamená pro inflaci. Dlouhodobý ropný šok by mohl udržet vysoký cenový tlak a zkomplikovat cestu centrálním bankám, které se již tak potýkají s obtížným politickým prostředím. Dnes byly také reportovány od EIA surové zásoby ropy ke dni 2.9., které klesly o 4,5 mil. barelů, když trh očekával menší pokles o 2,5 mil. barelů. Lehká ropa WTI v reakci na situaci roste o 3,1% a dostává se k úrovni 95,8 USD/barel. tato situace je příznivě nakloněna akciím v těžebním sektoru černého zlata a tak akcie těžaře APA ( APA ) dnes posilují o 1,9% a také akcie těžebního obra Exxon Mobil ( XOM ) se posunují výše na tržní ceně o cca 2%. V kladných úrovních se drží také akcie britské skupiny BP ( BP ), jež rostou o 1,6% a také akcie brazilského těžaře Petrobrasu ( PBR ) obchodují výš o cca 1,5%. a ještě lépe jsou na tom akcie Occidentalu Petroleum ( OXY ) se ziskem cca 2,5% a daří se také akciím Shellu ( SHEL ), které přidávají cca 1%. Za zmínku stojí také akcie amerického výrobce a dodavatele těžního zařízení Halliburtonu ( HAL ), které přidávají na tržní ceně více než 2% a také akcie francouzského konkurenta Schlumbergeru ( SLB ) přidávají na tržní ceně více než 3,5%.

Poměrně slušně dnes  za přispění geopolitického rizika a  oslabujícího dolaru profituje žlutý kov, který přidává cca 0,5% a dostává se k úrovni 4 460 USD/Troy. unci. Tato situace hraje do karet akciím v těžebním sektoru zlata a tak akcie největšího kanadského těžaře posilují na tržní ceně o cca 1,5% a také akcie jeho amerického konkurenta Newmontu ( NEM ) jsou na tom podobně se ziskem necelých 1,5%. Za pozornost stojí také akcie známého těžaře Eldorado Gold ( EGO ), které posilují na tržní ceně o cca 2,9%.

Z indexu S&P 500 zaznamenávají největší pokles akcie amerického řetězce obchodů se smíšeným zbožím Casey's General Stores který reportoval výsledky hospodaření za první kvartál fiskálního roku 2027, jeho porovnatelné tržby zaostaly za očekáváním. Akcie Casey's General Stores ( CASY ) se ocitají pod tlakem investorů a ztrácí -16%. 

Index S&P 500 -0,56 % na 7630,36 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +0,8 % Zbytná spotřeba -1,6 % Finanční sektor -0,3 % Utility -1,2 % Zdravotní péče -0,3 % Průmysl -1,2 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Meta Platforms (META) +7,0 % Casey's General Stores (CASY) -16 % Datadog (DDOG) +5,4 % Vertiv Holdings (VRT) -6,9 % Marvell Technology (MRVL) +4,8 % Booking Holdings (BKNG) -4,8 % Lumentum Holdings (LITE) +3,5 % Tractor Supply (TSCO) -4,5 % F5 (FFIV) +3,3 % Kimberly-Clark Corp (KMB) -4,4 %
Luboš Bedrník
Fio banka, a.s.
Prohlášení

Nykredit A S purchased a new position in Occidental Petroleum Corporation (NYSE:OXY – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,475 shares of the oil and gas producer’s stock, valued at approximately $2,597,000.

Several other hedge funds have also recently modified their holdings of the stock. Axiom Investment Management LLC acquired a new stake in Occidental Petroleum in the 1st quarter worth approximately $25,000. GKV Capital Management Co. Inc. purchased a new position in shares of Occidental Petroleum in the first quarter worth $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum in the first quarter worth $29,000. Hara Capital LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth $25,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes Several equities analysts recently issued reports on OXY shares. Barclays cut their target price on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Zacks Research cut Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Evercore upgraded Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Wednesday, July 8th. Truist Financial raised their price objective on Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Ten investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.83.

Get Our Latest Stock Report on OXY Insider Buying and Selling In related news, CEO Richard Jackson purchased 4,770 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the transaction, the chief executive officer owned 444,098 shares in the company, valued at $23,261,853.24. The trade was a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

Occidental Petroleum Trading Up 0.0% NYSE OXY opened at $60.05 on Tuesday. The company has a market capitalization of $60.03 billion, a PE ratio of 9.30, a P/E/G ratio of 0.95 and a beta of 0.16. The company has a fifty day moving average of $56.32 and a 200 day moving average of $56.62. Occidental Petroleum Corporation has a 1 year low of $38.80 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.57. The company had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The firm’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. Research analysts forecast that Occidental Petroleum Corporation will post 6.11 earnings per share for the current year.

Occidental Petroleum Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is 16.10%.

Occidental Petroleum Profile (Free Report)

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.

See Also Five stocks we like better than Occidental Petroleum 3 Under-the-Radar Defense Stocks With Record Backlogs This Korea ETF Has Soared, But the Rally May Not Be Over Why Guidewire’s Post-Earnings Plunge May Not Last Ride-Share Reckoning: Tesla Drives Into Uber’s Lane Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY – Free Report).

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Stock to Watch: Occidental Petroleum (OXY - Free Report) Occidental Petroleum Corporation, founded in 1920 and based in Houston, TX, is an international energy company with significant oil and gas exploration and production exposure. Following the sale of OxyChem in January 2026, the company conducts continuing operations through two reportable segments: Oil and Gas and Midstream and Marketing. Occidental primarily operates in the United States, the Middle East and North Africa. At 2025-end, its worldwide proved reserves totaled about 4.6 billion barrels of oil equivalent (Boe), compared with 4.61 billion Boe at the end of 2024. The company achieved organic reserve replacement of 107% in 2025.

OXY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 10.01; value investors should take notice.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.16 to $6.09 per share. OXY also boasts an average earnings surprise of +46.1%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, OXY should be on investors' short list.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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Stock to Watch: Occidental Petroleum (OXY - Free Report) Occidental Petroleum Corporation, founded in 1920 and based in Houston, TX, is an international energy company with significant oil and gas exploration and production exposure. Following the sale of OxyChem in January 2026, the company conducts continuing operations through two reportable segments: Oil and Gas and Midstream and Marketing. Occidental primarily operates in the United States, the Middle East and North Africa. At 2025-end, its worldwide proved reserves totaled about 4.6 billion barrels of oil equivalent (Boe), compared with 4.61 billion Boe at the end of 2024. The company achieved organic reserve replacement of 107% in 2025.

OXY is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Oils-Energy stock. OXY has a Momentum Style Score of A, and shares are up 3.6% over the past four weeks.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.10 to $6.09 per share. OXY also boasts an average earnings surprise of +46.1%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, OXY should be on investors' short list.

Bank of Nova Scotia bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 86,662 shares of the oil and gas producer’s stock, valued at approximately $4,209,000.

A number of other large investors have also recently modified their holdings of OXY. Axiom Investment Management LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at $25,000. Hara Capital LLC bought a new position in Occidental Petroleum during the 2nd quarter worth about $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum during the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance Shares of NYSE OXY opened at $58.44 on Wednesday. Occidental Petroleum Corporation has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a market cap of $58.42 billion, a PE ratio of 9.05, a P/E/G ratio of 0.95 and a beta of 0.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The business has a 50-day simple moving average of $54.77 and a two-hundred day simple moving average of $55.74.

Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. 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. The firm had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities analysts expect that Occidental Petroleum Corporation will post 6.09 EPS for the current fiscal year. Occidental Petroleum Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 10th will be issued a $0.28 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is 16.10%.

Analyst Ratings Changes OXY has been the topic of several research reports. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. The Goldman Sachs Group decreased their price target on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Truist Financial raised their price target on shares of Occidental Petroleum from $57.00 to $63.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Citigroup decreased their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $64.83.

View Our Latest Stock Report on Occidental Petroleum

Insider Activity at Occidental Petroleum In related news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

(Free Report)

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.

Read More Five stocks we like better than Occidental Petroleum Pathward’s Credit Scare Tests Its Comeback Story Wiring the AI Boom: Rumble’s $13.7B Pivot StoneX: Too Far Too Fast? DICK’s Sporting Goods Faces Pain Now for a Bigger Prize Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY – Free Report).

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Chevron (CVX +1.05%) and Occidental Petroleum (OXY -0.12%) both operate in the energy industry. Chevron offers investors a well-above-market 3.5% yield as of this writing. Oxy's yield is 1.9%, which is still higher than the 1% or so you'd get from the S&P 500 index (^GSPC -0.25%), but clearly not as high as Chevron's yield. But is Oxy's lower yield a safer bet if dividend consistency is important to you? Here's what you need to know.

The basics of the oil industry have to be addressed The geopolitical conflict in the Middle East has disrupted the energy market, leading to volatile oil and natural gas prices. Supply has been constrained, pushing up the prices of these commodities. That said, news flow and investor sentiment have led to material volatility in energy markets. Uncertainty is high.

Image source: Getty Images.

While this feels like a unique situation, and it is in some ways, volatility is fairly normal for the energy sector. Oil prices rise and fall frequently and often dramatically. So, as a dividend investor, you need to consider the entire energy cycle when you look for a dividend stock.

Oxy looks good right now The typical metric that investors use to assess dividend safety is the dividend payout ratio. This measure compares dividends to earnings, which makes a lot of sense. If a company earns more than it pays out in dividends, then the dividend should be secure. Oxy's trailing 12-month dividend payout ratio is roughly 30%. Chevron's is about 66%.

From this perspective, Oxy's dividend is safer. But oil prices are relatively high right now. Go back a single quarter, and the numbers were dramatically different. Both companies had payout ratios above 100%. That's the type of volatility that can occur in the energy sector, which is why earnings aren't the best measure of a dividend's safety. In a cyclical industry like this, the board of directors' commitment to the dividend is the key variable.

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On that front, Chevron wins hands down. It has increased its dividend annually for 38 years. Oxy cut its dividend in 2020 when oil prices plunged during the COVID pandemic. The reason for Oxy's dividend cut, however, is really important to understand.

Oxy took on more than it could chew Shortly before the pandemic started, Oxy bought Anadarko Petroleum. Oxy outbid Chevron to win the deal, but it ultimately took on significant debt to complete the acquisition. When oil prices plunged during the pandemic, the company was left with no wiggle room. It had to free up cash by cutting the dividend to focus on debt reduction.

In fairness, Oxy has materially reduced its leverage. Its debt-to-equity ratio has gone from 2x in 2021 to just 0.35x today. The dividend wouldn't be at the same level of risk if oil prices fell dramatically again. However, Chevron's debt-to-equity ratio is an even lower 0.2x. And even during the pandemic, the ratio rose only to 0.37x, roughly where Oxy's debt-to-equity ratio is today.

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Which brings up another important factor. Chevron is one of the world's largest energy companies, with a $390 billion market cap. Oxy is big, but with a $59 billion market cap, it is still relatively tiny compared to Chevron. Oxy has more growth potential, as it looks to expand to better compete with the industry's giants. But that aspiration has already proven it can put the dividend at risk. Meanwhile, Chevron has clearly demonstrated that the dividend is a top priority and that it is financially strong enough to support it through the entire energy cycle.

Chevron is the dividend stock to go with here There is nothing wrong with Oxy. It is a well-run energy company, but it is more growth-oriented. If dividend safety is important to you, history has proven that Chevron is the more reliable income investment. Add in Chevron's higher yield, and it seems like an easy win, even if the dividend payout ratio suggests otherwise.

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The Wall Street Journal published a report today, Monday, August 17, 2026, titled “Iran’s Secret Plan to Escalate the War,” the same day the 60-day US-Iran memorandum of understanding signed in June expires with no follow-on deal in sight. For investors, the question is narrower: if the ceasefire framework is dead and the Strait of Hormuz has effectively stopped moving cargo, why aren’t oil equities rising on the news?

The WSJ report, based on Arab and Iranian sources, alleges that hardline elements in Iran’s leadership treated the June memorandum as preparation for future conflict and reportedly decided to violate it from the moment it was signed. According to the report, the hardliners gave the Islamic Revolutionary Guard Corps greater authority over Iran’s military, appointed veteran Iran-Iraq War commanders to senior posts, and accelerated missile and UAV production. US officials reportedly warned Gulf countries, particularly Kuwait, that Iran was preparing to strike in “enemy territory.”

The Strait Has Effectively Stopped Kpler data cited by Reuters and CNBC shows the mechanism. Only five cargo ships passed through the Strait of Hormuz on Saturday, versus 31 the previous weekend, and no ships were registered to pass on Sunday. Shipping is down 90% since the war began February 28, 2026. The Strait normally averages about 130 vessel transits per day and carries about one fifth of the world’s oil. Yet Monday morning, per CNBC, Brent crude futures traded at $88.45 per barrel, down 0.15%, and WTI at $81.79, down 0.74%. Reuters reported the near-term potential for gains is seen as limited amid the stalemate. The muted crude reaction is itself the story.

The Majors and the War Premium At Friday’s close, Exxon Mobil (NYSE:XOM | XOM Price Prediction) sat at $160.10, up 34.83% year to date and 53.82% over the past year. Chevron (NYSE:CVX) closed at $200.00, up 33.71% year to date, and Occidental Petroleum (NYSE:OXY) at $58.36, up 43.27% year to date. Exxon CEO Darren Woods told analysts the company absorbed “the temporary loss of approximately 10% of our upstream production” from the Middle East conflict.

The war premium moves violently in both directions. WTI peaked at $114.58 on April 7, 2026, fell to $69.60 by July 6, rebounded to $93.08 on July 23, dropped to $76.78 on August 5, and stood at $84.77 on August 11.

Exxon’s Valuation Tension Wall Street’s consensus target of $168.55 sits above Friday’s close, but the ratings mix, 3 strong buy, 7 buy, 14 hold, 1 sell, tilts to holds. Our proprietary model rates XOM a HOLD with a base case of $138.68, citing roughly 13% overvaluation. Forward EPS of $7.07 implies a P/E around 25 on a $658.3 billion market cap.

The Tanker Trade Frontline (NYSE:FRO) closed Friday at $41.21, up 102.93% year to date and 143.50% over the past year. DHT Holdings (NYSE:DHT) closed at $19.52, up 69.65% year to date. Both posted far larger year-to-date gains than the three majors. Tankers benefit directly from rerouting and higher freight rates.

A caveat on DHT: the latest quarterly dividend was $1.22, versus $0.24 in the same quarter of 2025, and the company pays 100% of ordinary net income. That payout structure means the yield falls when VLCC spot rates fall, not a fixed coupon.

Insurance and the Close Per The National, citing Marsh broker Marcus Baker, war-risk premiums on tanker hull value rose from a pre-war baseline of about 0.25% of hull value to roughly 3% to 10% now. Insurers collect; operators absorb. HSBC’s Parash Jain told CNBC’s Squawk Box Europe Monday that investors should treat “chaos is the norm” as the base assumption. Watch Kpler’s Strait transit count over the next two weeks and whether Qatar and Pakistan, the current message-carriers, produce anything resembling resumed negotiation.

Contact [email protected] for any questions or corrections.

Occidental Petroleum remains a Buy, with valuation not reflecting its substantial operational and financial improvements. OXY advances toward its $10 billion debt milestone, enabling greater capital allocation flexibility and supporting greater shareholder returns. Production guidance and midstream income are raised, while well cost and interest expense reductions underpin a robust long-term free cash flow outlook.

Berkshire Hathaway’s Record Cash Hoard: Why and What's Next?Occidental Petroleum NYSE: OXY reported second-quarter results that exceeded its production guidance and produced its highest quarterly free cash flow since the third quarter of 2022, while outlining a plan to add more than $4 billion in annual sustainable cash flow by 2030.

President and Chief Executive Officer Richard Jackson said the company is focused on increasing both returns on and returns of capital through the cycle. Its priorities include strengthening the balance sheet, improving resource recovery, reducing costs and generating differentiated cash flow.

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Chaos & Crude: 3 Energy Stocks Built to Thrive in This Market“We see a clear pathway to add over $4 billion of annual sustainable cash flow by 2030,” Jackson said. He said the projected improvement would represent approximately 95% annualized growth from 2025 and would be driven by lower costs, lower sustaining capital requirements and a stronger balance sheet rather than production growth.

Second-Quarter Results and Operations Chief Financial Officer Sunil Mathew said Occidental generated adjusted earnings of $2.40 per diluted share and reported earnings of $2.75 per diluted share in the second quarter. The difference was largely attributed to mark-to-market gains in marketing and crude hedges, as well as a dilution gain in equity investment income.

How Berkshire Hathaway Performed During Buffett's Final QuarterFree cash flow before working capital was approximately $3 billion, aided by operational performance, cost discipline and higher commodity prices. The company ended the quarter with about $4.2 billion of unrestricted cash.

Total production averaged 1.43 million barrels of oil equivalent per day, exceeding the midpoint of guidance by 23,000 BOE per day. Domestic production benefited from strong base and new-well performance in the Permian Basin and higher uptime in the Gulf of America. Those gains more than offset lower international volumes related to disruptions in the Middle East.

Domestic lease operating expense was $7.80 per BOE, 6% below guidance. Mathew said higher domestic production and maintenance schedule optimization in the Gulf of America supported the result.

Midstream and marketing adjusted earnings reached a quarterly record of about $960 million, more than double the midpoint of guidance. The segment benefited from gas marketing optimization, crude marketing margins related to cargo-sale timing and commodity-price movements, and higher sulfur prices at Al Hosn. Lower sulfur sales partially offset those factors.

Debt Reduction, Dividend and Capital Priorities Occidental reduced principal debt by $1.5 billion during the period to $11.8 billion, its lowest level since the second quarter of 2019. The company said the reduction brings its go-forward annual interest expense run rate to approximately $760 million, about $630 million below 2025 interest payments.

Net principal debt was $7.6 billion at quarter-end, reflecting the company’s cash balance. Near-term maturities remain limited, with only $414 million due through the end of 2029, according to Mathew.

The board approved an 8% increase in the quarterly dividend to $0.28 per share. Management said its immediate financial priority remains reducing principal debt to $10 billion. After reaching that target, the company plans to focus on reducing net debt while balancing additional debt repayment with cash accumulation ahead of its preferred equity redemption in August 2029.

Share repurchases will remain opportunistic, Mathew said, and a continuous buyback program will be a lower priority until the preferred equity is redeemed.

Occidental expects more than $1.2 billion in free-cash-flow improvement in 2026 before the effect of higher oil prices. Management expects roughly $700 million to $800 million of improvement in 2027 versus 2026. Approximately $700 million of the longer-term cash-flow improvement is tied to the preferred equity redemption in 2029. The company said about 85% of the targeted improvements can be achieved even at lower commodity prices. Lower Costs and Sustaining Capital The company expects a $900 million reduction in sustaining capital by 2030, supported by capital-efficiency gains and a lower base decline rate. Occidental expects its base decline rate to fall from roughly 25% to 20% by 2030 as advanced recovery projects mature.

Jackson said the company has delivered more than $2 billion in savings since 2023 and remains on track for its 2026 targets. Its initiatives include reducing U.S. onshore well costs, lowering domestic lease operating and transportation expenses, and improving workforce efficiency through simplification and technology deployment.

Management also highlighted lower spending in low-carbon ventures. As the Stratos direct air capture project moves from development toward operations, approximately $400 million of low-carbon ventures capital is expected to roll off beginning next year. Jackson said repairs and commissioning work on Stratos Trains 3 and 4 was progressing, with full plant commissioning expected to begin around year-end and operations expected in 2027.

For 2027, Occidental’s starting capital-spending level is expected to be $5.9 billion, including investments in mid-cycle projects intended to reduce future decline rates and sustaining capital. At that spending level, management expects production to be relatively flat with 2026. The company said sustaining capital could decline to about $4.5 billion by 2030 through lower declines and further well-cost improvements.

Guidance and Resource Development For the third quarter, Occidental expects production of 1.4 million to 1.44 million BOE per day. Permian volumes are expected to increase after adjusting for a non-recurring second-quarter uplift, while Rockies output is expected to decline because of activity timing. Planned maintenance timing and a weather contingency are expected to affect Gulf of America production. International volumes are expected to normalize, though management said conditions in the Middle East remain fluid.

The company raised its full-year production guidance, citing stronger domestic new-well and base performance that is expected to offset marginally lower international volumes. It maintained full-year capital guidance of $5.5 billion to $5.9 billion and domestic lease operating expense guidance of $8.10 per BOE.

Occidental expects third-quarter domestic lease operating expense of $8.75 per BOE due to the Gulf of America maintenance shift and weather contingency. Midstream and marketing income is expected to decline in the third quarter as the Waha-to-Gulf Coast natural-gas spread narrows, though management expects stronger upstream gas realizations to largely offset that effect. The company increased full-year midstream and marketing guidance by $300 million following strong year-to-date performance.

Jackson said advanced recovery techniques, including waterflooding, enhanced oil recovery and unconventional CO2 applications, are central to lowering decline rates and increasing recovery. The company also cited stronger well productivity and lower costs in the Powder River Basin, where it is increasing activity as part of its U.S. oil development program.

About Occidental Petroleum (NYSE:OXY)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.

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Shares of Occidental Petroleum (OXY +4.14%) rose on Thursday after the oil and gas producer raised its cash payouts to investors.

Image source: Getty Images.

Rising production and surging prices are a lucrative combination Occidental produced an average of 1,433 thousand barrels of oil equivalent per day (Mboed) in the second quarter, besting its own internal targets.

"We are unlocking more from our assets through our industry-leading advanced recovery capabilities and differentiated value-based development approach," CEO Richard Jackson said.

This strong operating performance, combined with a 38% surge in realized crude oil prices to $96.78 per barrel, drove Occidental's pre-tax income from oil and gas to $2.8 billion, up from $1 billion in the first quarter and $934 million in the second quarter of 2025.

The energy producer's midstream and marketing segment also swung to a pre-tax profit of $1.3 billion, compared to a loss of $87 million in Q1.

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All told, Occidental's adjusted net income checked in at $2.4 billion, or $2.40 per share.

The company also generated $3 billion in free cash flow, enabling it to pay down its debt by $1.9 billion. At $11.8 billion, Occidental's total debt is now within range of management's $10 billion goal.

Boosting cash returns to shareowners Occidental's strengthening financial position allows it to reward its investors with larger dividends. The oil and gas leader raised its quarterly cash payout by 8% to $0.28 per share. That equates to a 2% annualized yield at its current stock price near $56.

"Our second-quarter results demonstrate the strength of Oxy's resources and the competitive advantages that position us for continued value creation," Jackson said.

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.

Richard Jackson, Occidental Petroleum CEO and president, joins 'Power Lunch' to discuss the company's quarterly profit, which sailed to its highest since 2022.

Key Takeaways Occidental's Q2 adjusted earnings jumped 823.1% as revenues rose 57.1% to $8.33 billion.OXY's Midstream pre-tax income hit $961 million, while worldwide output topped guidance at 1,433 Mboe/d.Occidental cut debt by $1.9 billion, raised its dividend 8% and revised its 2026 production outlook. Occidental Petroleum Corporation (OXY - Free Report) reported second-quarter 2026 adjusted earnings of $2.40 per share, surging 823.1% year over year and beating the Zacks Consensus Estimate of $1.92 by 25%.

Higher realized crude oil prices and a sharp improvement in Midstream and Marketing supported results. Midstream and Marketing reported adjusted pre-tax income of $961 million, exceeding the high end of the company’s guidance. The segment posted adjusted income of $196 million in the year-ago quarter.

Reported earnings were $2.75 per share compared with 26 cents a year earlier.

Total RevenuesRevenues climbed 57.1% to $8.33 billion and surpassed the Zacks Consensus Estimate of $7.18 billion by 16%.

Oil and Gas revenues totaled $6.88 billion, up 37.4% from $5.01 billion in the year-ago quarter. Higher commodity realizations more than offset weakness in domestic natural gas pricing.

Midstream and Marketing revenues jumped 240% year over year to $1.33 billion. Interest, dividends and other income totaled $82 million compared with $43 million a year earlier.

Occidental's Production Tops GuidanceWorldwide production reached 1,433 thousand barrels of oil equivalent per day (Mboe/d), exceeding the high end of management’s guidance of 1,390-1,430 Mboe/d. Strong domestic performance helped total production rise 2.4% year over year.

 Permian Resources production averaged 804 Mboe/d, up from 770 Mboe/d in the second quarter of 2025. Production from the region also exceeded the guidance of 783-803 Mboe/d.
Gulf of America output rose to 144 Mboe/d from 125 Mboe/d, benefiting from strong base performance and maintenance optimization.

Rockies and Other Domestic production increased to 280 Mboe/d from 272 Mboe/d.

 International production declined to 205 Mboe/d from 233 Mboe/d, partly reflecting disruptions in the Middle East.

OXY's Realized Oil Prices Provide a LiftOccidental’s worldwide realized crude oil price increased 51.8% year over year to $96.78 per barrel. The average WTI and Brent marker prices were $92.79 and $97.06 per barrel, respectively, up from $63.74 and $66.59.

Worldwide realized natural gas liquids prices advanced 19% to $24.64 per barrel. However, domestic realized natural gas prices were negative $1.48 per thousand cubic feet in contrast to a positive $1.33 in the prior-year period, limiting part of the commodity-price benefit.

OXY's Operational HighlightsTotal costs and other deductions declined 4% year over year to $4.55 billion. Oil and gas lease operating expenses slipped 1.6% to $1.12 billion, while transportation and gathering costs increased 3.3% to $463 million.

Depreciation, depletion and amortization expenses rose 1.3% to $1.85 billion. Interest and debt expense fell 60.1% to $108 million, reflecting the company’s accelerated debt-reduction efforts.

 In the first half of 2026, the company brought online 256 wells in the Permian and 84 wells in the Rockies region, which boosted domestic production volumes.

Occidental's Cash Flow Strengthens the Balance SheetIn the second quarter, operating cash flow from continuing operations totaled $5.09 billion. Excluding working-capital movements, operating cash flow was $4.61 billion. Capital expenditures totaled $1.59 billion, resulting in free cash flow before working capital of $3.02 billion.

Occidental reduced principal debt by $1.9 billion during the quarter to $11.8 billion. The company retired $8.6 billion of debt during the first half of 2026 and ended June with $4.15 billion in cash and cash equivalents. Management also raised the quarterly dividend by 8% to 28 cents per share.

OXY Revises Full-Year Production ExpectationsFor 2026, Occidental now expects total production of 1,423-1,453 Mboe/d compared with earlier expectation of 1,410-1,460 Mboe/d. The outlook includes Permian production of 801-817 Mboe/d and Gulf of America production of 132-136 Mboe/d.

The company projects full-year Midstream pre-tax income of $1.3-$1.5 billion. Net capital expenditures are expected between $5.5 billion and $5.9 billion, while adjusted interest expense is forecasted at approximately $680 million. Exploration expenses are expected to be $290 million.

For the third quarter of 2026, OXY expects production in the band of 1,400-1,440 Mboe/d. Output from the Permian Resources segment is anticipated at 795-8815 Mboe/d. Occidental expects international production volumes for the third quarter of 2026 to be in the range of 225-231 Mboe/d.

In 2026, OXY plans to bring in between 485 and 515 wells online in the Permian and 150-170 wells in the Rockies region.

Zacks Rank of OXYRecent ReleasesMurphy Oil Corporation (MUR - Free Report) reported second-quarter 2026 adjusted earnings of $1.55 per share, up 474.1% year over year. The figure topped the Zacks Consensus Estimate of $1.51 by 2.7%.

Revenues of $928.3 million increased 33.5% and beat the consensus estimate of $871 million by 6.5%. Higher commodity prices and solid operating execution supported the results.

 TotalEnergies SE (TTE - Free Report) reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).

Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.

Devon Energy Corporation (DVN - Free Report) reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%.

Revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results.

6.8.2026 16:05, OXY, DASH, FISV

Index Dow Jones -0,06 % na 54315,54 b. S&P 500 +0,12 % na 7732,97 b. Nasdaq Composite +0,17 % na 26407,84 b.

Nejsledovanější americké indexy se v úvodu čtvrtečního obchodování vyvíjejí smíšeně, a to před zítřejším zveřejněním zprávy z amerického trhu práce. Vyšší ceny ropy zároveň zvýšily obavy z inflace a vedly k růstu výnosů dluhopisů.

Pokračuje výsledková sezóna, mimo jiné své výsledky reportovaly společnosti: Sandisk (-6,2 %), Western Digital (-12 %), AppLovin (-20 %), MercadoLibre (-7,2 %), Figma (-16 %), Duolingo (-15 %) a Honeywell Aerospace (-21 %). Podrobnosti naleznete v jednotlivých zprávách. Výsledky softwarové společnosti Datadog (-17 %) v samostatné zprávě připravujeme.

Daří se akciím těžební společnosti Occidental Petroleum (+5,7 %) po zveřejnění výsledků za 2Q. Zisk na akcii překonal průměrný odhad analytiků a společnost vykázala silný hotovostní tok díky výborným výsledkům segmentu midstream. Očištěný zisk na akcii dosáhl 2,40 USD, tedy výrazně nad odhady 1,87 USD a volný hotovostní tok z pokračujících činností před změnami pracovního kapitálu činil 3,0 mld. USD.

V problémech se nadále nachází zprostředkovatel plateb Fiserv (-7,2 %). Společnost s výsledky za 2Q výrazně snížila výhled očištěného zisku na akcii pro celý letošní rok. Nová prognóza zaostala za průměrným odhadem analytiků. Zároveň výsledky samotné nesplnily očekávání trhu. Očištěné výnosy dosáhly 4,96 mld. USD, pod odhady 5,05 mld. USD a organický růst výnosů činil -5 % při konsensu -2,96 %. Očištěný zisk na akcii dosáhl 1,84 USD, trh odhadoval 1,91 USD. Společnost v celém roce očekává očištěný zisk na akcii v rozmezí 7,20 až 7,40 USD (dříve 8,00 až 8,30 USD), zatímco konsenzus analytiků činil 8,11 USD.

Zprostředkovatel online objednávek a rozvozových služeb jídla, potravin a dalšího zboží DoorDash (+0,6 %) zveřejnil výsledky za 2Q. Tržby i očištěný zisk EBITDA překonaly očekávání analytiků, zatímco volný hotovostní tok zaostal za odhady.

Index S&P 500 +0,12 % na 7732,97 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +0,6 % Reality -0,5 % Informační technologie +0,2 % Základní materiály -0,4 % Průmysl +0,2 % Finanční sektor -0,2 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Parker-Hannifin Corp (PH) +9,2 % Honeywell Aerospace (HONA) -21 % Motorola Solutions (MSI) +8,3 % AppLovin Corp (APP) -20 % Occidental Petroleum Corp (OXY) +5,7 % Datadog (DDOG) -17 % Ralph Lauren Corp (RL) +5,6 % Western Digital Corp (WDC) -12 % Fox Corp (FOX) +4,7 % Fiserv (FISV) -7,2 % Zdroj: Bloomberg

Michal Bárta
Fio banka, a.s.
Prohlášení

Occidental Petroleum (OXY - Free Report) came out with quarterly earnings of $2.4 per share, beating the Zacks Consensus Estimate of $1.92 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +25.00%. A quarter ago, it was expected that this oil and gas exploration and production company would post earnings of $0.65 per share when it actually produced earnings of $1.06, delivering a surprise of +63.08%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Occidental, which belongs to the Zacks Oil and Gas - Integrated - United States industry, posted revenues of $8.33 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 16.03%. This compares to year-ago revenues of $6.46 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Occidental shares have added about 34% since the beginning of the year versus the S&P 500's gain of 13%.

What's Next for Occidental?While Occidental has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Occidental was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.23 on $6.28 billion in revenues for the coming quarter and $5.35 on $25.48 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Integrated - United States is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Prairie Operating Co. (PROP - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -88.9%. The consensus EPS estimate for the quarter has been revised 3% lower over the last 30 days to the current level.

Prairie Operating Co.'s revenues are expected to be $108.22 million, up 58.9% from the year-ago quarter.

U.S. shale producer Occidental Petroleum reported its highest quarterly ​profit since 2022, surpassing Wall Street expectations ‌on Wednesday, helped by higher oil prices and production.

Wall Street analysts forecast that Occidental Petroleum (OXY - Free Report) will report quarterly earnings of $1.96 per share in its upcoming release, pointing to a year-over-year increase of 402.6%. It is anticipated that revenues will amount to $7.18 billion, exhibiting an increase of 11.2% compared to the year-ago quarter.

The consensus EPS estimate for the quarter has been revised 9.7% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

That said, let's delve into the average estimates of some Occidental metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Revenues and Other Income- Net Sales- Oil and Gas' reaching $6.67 billion. The estimate suggests a change of +33.2% year over year.

The consensus among analysts is that 'Revenues and Other Income- Net Sales- Midstream & Marketing' will reach $701.28 million. The estimate points to a change of +64.6% from the year-ago quarter.

It is projected by analysts that the 'Daily Production Volumes - Worldwide Production' will reach 1,415.74 thousands of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 1,400.00 thousands of barrels of oil equivalent per day.

The consensus estimate for 'Net Production Volumes Per Day By Commodity - Natural Gas - Total Worldwide' stands at . Compared to the current estimate, the company reported in the same quarter of the previous year.

Analysts forecast 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' to reach 714.30 thousands of barrels of oil per day. Compared to the current estimate, the company reported 717.00 thousands of barrels of oil per day in the same quarter of the previous year.

The average prediction of analysts places 'Average Realized Prices - NGLs - Total Worldwide' at 25 dollars per barrel. The estimate compares to the year-ago value of 21 dollars per barrel.

According to the collective judgment of analysts, 'Average Realized Prices - Oil - Total Worldwide' should come in at 96 dollars per barrel. Compared to the present estimate, the company reported 64 dollars per barrel in the same quarter last year.

Based on the collective assessment of analysts, 'Average Realized Prices - Oil - United States' should arrive at 96 dollars per barrel. Compared to the current estimate, the company reported 63 dollars per barrel in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Average Realized Prices - Oil - International' will likely reach 96 dollars per barrel. Compared to the present estimate, the company reported 69 dollars per barrel in the same quarter last year.

Analysts predict that the 'Average Realized Prices - NGLs - United States' will reach 24 dollars per barrel. Compared to the present estimate, the company reported 20 dollars per barrel in the same quarter last year.

Analysts expect 'Average Realized Prices - NGLs - International' to come in at 33 dollars per barrel. The estimate compares to the year-ago value of 26 dollars per barrel.

The collective assessment of analysts points to an estimated 'Net Production Volumes Per Day By Commodity - NGLs - United States' of 290.50 thousands of barrels of oil per day. Compared to the present estimate, the company reported 279.00 thousands of barrels of oil per day in the same quarter last year.

View all Key Company Metrics for Occidental here>>>

Occidental shares have witnessed a change of +13.7% in the past month, in contrast to the Zacks S&P 500 composite's +1.7% move. With a Zacks Rank #3 (Hold), OXY is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Occidental Petroleum (OXY - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this oil and gas exploration and production company have returned +14.4% over the past month versus the Zacks S&P 500 composite's -0.5% change. The Zacks Oil and Gas - Integrated - United States industry, to which Occidental belongs, has gained 11.2% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Occidental is expected to post earnings of $1.96 per share, indicating a change of +402.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -14.8% over the last 30 days.

The consensus earnings estimate of $5.43 for the current fiscal year indicates a year-over-year change of +145.7%. This estimate has changed -9.4% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $3.78 indicates a change of -30.4% from what Occidental is expected to report a year ago. Over the past month, the estimate has changed -11.1%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Occidental.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Occidental, the consensus sales estimate for the current quarter of $7.18 billion indicates a year-over-year change of +11.2%. For the current and next fiscal years, $24.96 billion and $23.56 billion estimates indicate -1.9% and -5.6% changes, respectively.

Last Reported Results and Surprise HistoryOccidental reported revenues of $5.11 billion in the last reported quarter, representing a year-over-year change of -25.3%. EPS of $1.06 for the same period compares with $0.87 a year ago.

Compared to the Zacks Consensus Estimate of $5.5 billion, the reported revenues represent a surprise of -7.03%. The EPS surprise was +63.08%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Occidental is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Occidental. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

No one should doubt the power of the law of supply and demand. We've seen it in action so far this year. The Iran war -- particularly the resulting disruption in traffic through the Strait of Hormuz -- has negatively impacted oil supply. Unsurprisingly, fuel prices have risen significantly.

This dynamic, though, has made oil stocks big winners. Shares of ExxonMobil (XOM +2.42%), Chevron (CVX +2.28%), and Occidental Petroleum (OXY +3.89%) surged in the first half of 2026. Here's which one of these stocks could be the best to buy for the second half of the year.

Image source: Getty Images.

How these oil stocks stack up Occidental Petroleum has delivered the most impressive year-to-date performance among these three stocks. That's primarily due to its greater sensitivity to crude oil prices, which is a direct result of the company's upstream focus. ExxonMobil and Chevron, meanwhile, have been neck-and-neck with similar strong gains in 2026.

Have the exceptional returns caused valuation issues for the stocks? Nope. ExxonMobil is the most expensive of the group, but with shares trading at only 14.3 times forward earnings. Chevron's forward price-to-earnings ratio is 13.6. Oxy looks downright cheap with its forward earnings multiple of 10.5.

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All three of these oil producers pay dividends. Chevron will probably be the most appealing to income investors, with its forward dividend yield of 3.7% and 39 consecutive years of dividend increases. ExxonMobil is in contention, though, with a yield of 2.6% and 43 consecutive years of dividend hikes. Occidental's dividend yield is a much lower 1.8%. The company has also increased its dividend for five consecutive years.

Wall Street is generally bullish about all three stocks. Occidental claims the highest upside based on consensus 12-month price targets. However, Chevron isn't too far behind. It also has the highest percentage of "buy" and "strong buy" analyst recommendations of the group.

The runners-up How do these oil stocks rank for the second half of 2026? You might be surprised that I have put Occidental in third place despite its top performance and low valuation.

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The main knock against Oxy, in my view, is that it's riskier than ExxonMobil or Chevron because of its heavy upstream focus. If oil prices fall -- and I think they may later this year -- Occidental's stock would be affected the most of the three.

I selected ExxonMobil as my No. 2 pick for the second half of the year. It's the world's second-largest energy company based on market cap, trailing only Saudi Arabian Oil (SASE:2222), better known as Saudi Aramco. I like ExxonMobil and own shares. However, I think that Chevron looks more attractive right now.

Why Chevron takes the top spot As I mentioned earlier, Chevron is Wall Street's favorite among these three stocks. It also pays the most attractive dividend. But those aren't the only reasons I think Chevron deserves the top spot.

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For one thing, Chevron is outperforming its competitors on some key fronts. In recent years, the company has delivered the highest growth in cash flow from operations among its peers. It has also generated the highest production compound annual growth rate.

Chevron's acquisition of Hess has transformed the company's production capacity. It now has significant exposure to one of the world's highest-return areas -- Guyana. This deal provides the company with a long-term competitive advantage, in my opinion.

Microsoft (MSFT -0.71%) selected Chevron to co-develop a facility to power a West Texas data center for 20 years. I view Chevron as one of the best major oil companies poised to benefit from the continued energy demand driven by data centers.

Chevron's management expects to grow earnings per share and adjusted free cash flow by more than 10% per year. The company plans to keep buying back between 3% and 6% of its outstanding shares annually. And it can continue paying dividends at the current level and funding capital projects even if oil falls below $50 per barrel.

Simply put, I think investing in Chevron offers the best risk-reward proposition. ExxonMobil and Occidental Petroleum could deliver greater gains in the second half of 2026, but my money is on Chevron to be the bigger winner over the next few years.

Posted by Defense World Staff on Jul 28th, 2026

Castleark Management LLC grew its stake in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 127.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,585 shares of the oil and gas producer’s stock after purchasing an additional 29,480 shares during the quarter. Castleark Management LLC’s holdings in Occidental Petroleum were worth $3,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Portus Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $29,000. Whipplewood Advisors LLC acquired a new stake in Occidental Petroleum in the 1st quarter worth about $42,000. SJS Investment Consulting Inc. increased its stake in Occidental Petroleum by 148.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 696 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 416 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $29,000. Finally, Activest Wealth Management lifted its position in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance NYSE:OXY opened at $54.97 on Tuesday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The stock has a market cap of $54.68 billion, a PE ratio of 13.85 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The stock has a 50 day moving average price of $54.71 and a 200 day moving average price of $53.68.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities research analysts expect that Occidental Petroleum Corporation will post 5.66 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum’s payout ratio is presently 26.20%.

Analysts Set New Price Targets A number of analysts have recently issued reports on the company. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Scotiabank raised their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley lowered their target price on shares of Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. UBS Group dropped their target price on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Occidental Petroleum from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Ten analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.17.

View Our Latest Research Report on OXY

Insider Activity In other news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Occidental Petroleum Company Profile (Free Report)

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.

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Posted by Defense World Staff on Jul 27th, 2026

Caxton Associates LLP acquired a new position in shares of Occidental Petroleum Corporation (NYSE:OXY – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,363 shares of the oil and gas producer’s stock, valued at approximately $804,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after purchasing an additional 1,883,721 shares during the period. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 44.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock worth $374,470,000 after purchasing an additional 1,776,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Occidental Petroleum by 54.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after purchasing an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after buying an additional 1,361,541 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Occidental Petroleum by 247.0% during the first quarter. Sei Investments Co. now owns 1,734,052 shares of the oil and gas producer’s stock valued at $112,719,000 after buying an additional 1,234,350 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance OXY opened at $57.32 on Monday. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 14.44 and a beta of 0.15. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The business’s fifty day simple moving average is $54.81 and its 200-day simple moving average is $53.59.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 5.66 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th were issued a $0.26 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is currently 26.20%.

Analyst Upgrades and Downgrades Several equities research analysts have recently weighed in on OXY shares. BMO Capital Markets increased their price target on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. Capital One Financial upped their price objective on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Barclays upgraded Occidental Petroleum from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $59.00 to $72.00 in a research note on Tuesday, May 26th. Raymond James Financial lifted their target price on Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, UBS Group cut their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.17.

Check Out Our Latest Research Report on OXY

Insider Buying and Selling at Occidental Petroleum In other Occidental Petroleum news, CEO Richard A. Jackson acquired 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Occidental Petroleum Company Profile (Free Report)

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.

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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Occidental Petroleum (OXY - Free Report) ended the recent trading session at $56.50, demonstrating a +2.37% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.89%. At the same time, the Dow added 0.74%, and the tech-heavy Nasdaq gained 1.29%.

Coming into today, shares of the oil and gas exploration and production company had gained 6.13% in the past month. In that same time, the Oils-Energy sector gained 4.15%, while the S&P 500 lost 0.63%.

Analysts and investors alike will be keeping a close eye on the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings report is set to go public on August 5, 2026. In that report, analysts expect Occidental Petroleum to post earnings of $1.95 per share. This would mark year-over-year growth of 400%. At the same time, our most recent consensus estimate is projecting a revenue of $7.18 billion, reflecting a 11.16% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.66 per share and revenue of $24.96 billion, indicating changes of +156.11% and -1.88%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.23% lower. Occidental Petroleum is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Occidental Petroleum is holding a Forward P/E ratio of 9.75. This represents a discount compared to its industry average Forward P/E of 19.49.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow OXY in the coming trading sessions, be sure to utilize Zacks.com.

Everyone deals with some form of temptation. Even companies with energy and mining outfits are prime examples, so with oil prices high today, mostly due to the war in Iran, it's a good time to discuss corporate temptation as it relates to energy stocks, including Occidental Petroleum (OXY +2.25%).

When it reported first-quarter results in May, Occidental told investors it expects capital spending to decline by $550 million this year compared with 2025, targeting total spending of $5.5 billion to $5.9 billion. But with oil prices alluringly high, it may appear that Occidental and other oil companies may be incentivized to boost output.

Occidental Petroleum shouldn't run to boost production because oil prices are high. Image source: Getty Images.

Consider high oil prices as a form of temptation. Producers see those elevated prices and the knee-jerk response may be a rush to capitalize, but that's not always the smart play. Sometimes, erring on the side of caution is the better course of action. Let's get into why Occidental should not rush to accelerate production simply because crude prices are high.

Avoiding oil's Garden of Eden With oil prices up over 30% so far this year at this writing, it may be tempting for producers to rush to increase output, but the smart companies know that as quickly as the oil market gives, it can take away. For example, oil prices dipped dramatically in the last month before spiking again. 

The point is that Occidental and its peers may decide to boost output today, but by the time they bring a significant new product to market, prices could be significantly lower than what they were banking on. That's one of the risks investors must account for when investing in oil stocks.

Speaking of volatility, that's an apt way of describing the current state of affairs between the U.S. and Iran. The aforementioned tumble in crude prices came in large part due to the two sides hammering out details of a peace accord, but last week, President Donald Trump said the deal is "over," and prices moved up again.

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Looked at differently, there's no denying the war in Iran is affecting oil prices. However, there's also no getting around the fact that geopolitical situations can turn on a dime, potentially punishing any oil company that rushes to lift production.

No need to burn goodwill Shares of Occidental are up 30% year to date, and that gain isn't just about Iran. There are company-specific factors at play. For example, the $9.5 billion sale of the OxyChem business to Berkshire Hathaway wrapped up in January, paving the way for the company to prepay $6.7 billion in debt and eliminate $550 million in annual interest expenses. That implies some investors are giving Occidental credit for its balance sheet-firming efforts.

It'd be prudent for the company not to burn that goodwill, as the stock remains undervalued relative to peers, perhaps signaling that the broader investment community is overlooking the improving balance sheet health and strong asset quality. Getting investors to see those lights could be challenging if Occidental suddenly increases production.

It doesn't need to. If Evercore ISI is right, Occidental is on a path to grow free cash flow by 8% annually through 2030, with WTI prices at $75 per barrel, and possibly restart share repurchases in two years. Best of all, those outlooks aren't based on output moving materially higher in the near term.

In the latest trading session, Occidental Petroleum (OXY - Free Report) closed at $53.77, marking a -1.47% move from the previous day. This change lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.62%.

Shares of the oil and gas exploration and production company have appreciated by 1.68% over the course of the past month, outperforming the Oils-Energy sector's loss of 1.03%, and the S&P 500's gain of 1.61%.

Investors will be eagerly watching for the performance of Occidental Petroleum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2026. The company's earnings per share (EPS) are projected to be $1.94, reflecting a 397.44% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.22 billion, up 11.88% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.88 per share and a revenue of $25.57 billion, indicating changes of +166.06% and +0.5%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Occidental Petroleum. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.53% rise in the Zacks Consensus EPS estimate. Currently, Occidental Petroleum is carrying a Zacks Rank of #2 (Buy).

Looking at valuation, Occidental Petroleum is presently trading at a Forward P/E ratio of 9.29. This valuation marks a discount compared to its industry average Forward P/E of 19.57.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Occidental Petroleum has been upgraded by Evercore, citing improved capital efficiency and successful deleveraging. Recent optimism is now driven by expectations of sustained higher commodity prices, making bullish theses more secure. Both Seeking Alpha's quant system and Wall Street analysts currently rate OXY as a buy.