Occidental Petroleum Corporation's Financial Performance and Market Position

Font: Financial Modeling Prep  • Feb 20, 2026

• Occidental Petroleum Corporation (NYSE:OXY) has seen a 9% increase in share price following an impressive earnings report.
• The company has significantly reduced its corporate debt to $15 billion, enhancing its financial stability and future growth potential.
• Despite a shortfall in revenue, Occidental has increased its oil production and raised its dividend yield by 8%.

Occidental Petroleum Corporation, trading under the symbol OXY on the NYSE, is a major player in the oil and gas industry. The company is known for its exploration and production of oil and natural gas, as well as its chemical manufacturing operations. Occidental competes with other energy giants like ExxonMobil and Chevron. Recently, Charles Minervino from Susquehanna set a price target of $60 for OXY, suggesting a potential upside of 15.91% from its current trading price of $51.77.

The stock's recent performance has been noteworthy, with a 9% increase in share price, reaching $51.51 as of February 20. This surge was largely driven by an impressive earnings report, which revealed an earnings per share (EPS) of $0.31. This figure surpassed the forecasted range of $0.18 to $0.19, highlighting the company's strong financial performance.

Occidental has also made significant strides in reducing its corporate debt, which now stands at $15 billion. This reduction was achieved through the sale of OxyChem, allowing the company to retire nearly $14 billion in debt over 20 months. This move strengthens Occidental's financial position and enhances its ability to invest in future growth opportunities.

Despite these positive developments, Occidental's revenue fell short of expectations, recording $5.42 billion compared to the anticipated $5.88 billion. However, the company announced an increase in oil production and raised its dividend yield by 8% to $0.26, which may attract income-focused investors.

Currently, OXY is trading at $51.74, with a slight increase of 0.40% today. The stock has fluctuated between a low of $51.18 and a high of $52.19 during the day's trading. With a market capitalization of approximately $50.97 billion and a trading volume of 4,601,549 shares, Occidental remains a significant player in the energy sector.