Occidental Petroleum stock holds near $60 after Q2 beat
Published on 08/20/2026 at 11:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Occidental Petroleum Corp. (US6745991058) is trading near $60 after its Q2 2026 results showed earnings per share of $2.40 on revenue of $8.06 billion, both ahead of estimates, while the latest session showed a $59.80 close and a $59.78 billion market cap.
Q2 numbers set the tone
The most recent quarter ended June 30, 2026, and the company reported $2.40 in EPS versus $1.83 expected, a beat of $0.57 per share. Revenue came in at $8.06 billion, up 53.4% from the same quarter a year earlier, when EPS was $0.39.
That mix matters because it shows a company still benefiting from strong upstream pricing and execution while analysts keep the stock on a Hold view with a $64.83 consensus target. The gap between the $59.80 close and that target is $5.03, giving the shares some room without changing the cautious tone of coverage.
Targets and dividend
Recent consensus data also show 10 Buy ratings and 16 Hold ratings, which is why the average view remains balanced rather than aggressively bullish. The dividend was raised to $0.28 a share from $0.26, adding a second lever for total return beyond the earnings surprise.
For investors, the more important comparison is simple: a 46.69% year-to-date gain against a 12-month range of $38.80 to $67.45. The stock has already recovered a large part of its prior slide, so future upside now depends more on whether the company can keep converting stronger quarterly profit into cash flow and shareholder payouts.
Permian cash engine
Occidental's core business still centers on oil and natural gas production, with the Permian Basin doing much of the heavy lifting. The latest quarter's $8.06 billion in sales and $2.40 EPS suggest that operational leverage remains strong when commodity prices and volumes line up.
A representative product line is OxyChem's basic chemicals, which helps smooth results when upstream earnings swing with crude prices. That mix gives the company a more diversified cash base than a pure producer, and it helps explain why the market is willing to assign the shares a market cap close to $60 billion.
Shares around $60
Occidental Petroleum shares closed at $59.80 in the most recent completed session, and the intraday snapshot showed $59.82 with a 1.32% gain. The 12-month range stands at $38.80 to $67.45, so the stock is still trading in the upper half of that band.
Go deeper
More on Occidental Petroleum stock centers on the Q2 2026 earnings beat, the higher dividend, and the current consensus target near $65.
Investor Relations
More on Occidental Petroleum's strategy, quarterly reporting, and shareholder returns is available through the company's investor relations channel.
Fact box
Company: Occidental Petroleum Corp.
ISIN: US6745991058
Ticker: OXY
Exchange: NYSE
Price (as of August 18, 2026, 4:00 p.m. ET): $59.80 USD
Market cap: $59.78 billion (as of August 18, 2026)
Sector / Industry: Energy - Oil and Gas Exploration and Production
Index membership: S&P 500
