Occidental Petroleum Reports Strong Q4 Earnings, Shares Rise
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Should l Buy OXY?
Source: Benzinga
- Earnings Beat: Occidental Petroleum reported adjusted earnings per share of 31 cents for Q4, surpassing the consensus estimate of 18 cents, indicating a significant improvement in profitability that boosts investor confidence.
- Production and Reserves: The company achieved total production of 1,481 Mboed, exceeding the high end of guidance, while year-end worldwide proved reserves stood at 4.6 billion BOE, with a reserves replacement ratio of 98%, ensuring future production stability.
- Analyst Insights: Although JPMorgan analyst Arun Jayaram maintained an Underweight rating on the stock, he noted that the earnings upside was driven by lower operating expenses, slightly higher production, and strong midstream/marketing pre-tax income, reflecting effective cost management.
- Future Outlook: The company guided for Q1 volumes of 1,405 MBoe/d, which is 4%-5% below Street estimates, and plans to reduce capital expenditures by 12%, indicating a cautious strategy amid macro uncertainties, even as oil volume guidance is only 1%-2% below consensus.
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Analyst Views on OXY
Wall Street analysts forecast OXY stock price to fall
16 Analyst Rating
4 Buy
9 Hold
3 Sell
Hold
Current: 54.190
Low
38.00
Averages
47.27
High
64.00
Current: 54.190
Low
38.00
Averages
47.27
High
64.00
About OXY
Occidental Petroleum Corporation is an international energy company with assets primarily in the United States, the Middle East and North Africa. The Company is an oil and gas producer in the United States, including a producer in the Permian and DJ basins, and the offshore Gulf of Mexico. It operates through three segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops, and produces oil (which includes condensate), natural gas liquids (NGL) and natural gas. The chemical segment primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports, and stores oil (which includes condensate), NGL, natural gas, carbon dioxide (CO2) and power. The midstream and marketing segment provides flow assurance and maximizes the value of its oil and gas. It also optimizes its transportation and storage capacity and invests in entities that conduct similar activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Reactions: The fluctuations in oil stocks reflect broader market concerns regarding geopolitical tensions and their economic implications.
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- G7 Emergency Meeting: G7 energy ministers are set to meet virtually to discuss a potential release of emergency oil reserves to address supply disruptions caused by the Iran conflict, with previous finance ministers' discussions deemed 'positive' despite no concrete decisions made.
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- Buyback Strategy Adjustment: Although the company has not repurchased shares for six straight quarters, it began buying back stock earlier this month, indicating a reassessment of current stock prices, particularly as the price-to-book ratio has decreased from 1.8 to 1.4.
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