Equity Profile

OXY

Occidental Petroleum Corporation

EnergyIntegrated Oil & Gas$58.1B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Occidental Petroleum Corporation (OXY) is an integrated oil and gas company involved in the exploration, production, and marketing of oil and natural gas. As a major player in the energy sector, its performance is closely tied to global oil prices and demand trends, making it a key focus for investors interested in energy markets.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and indicates how much money the company makes for each share of stock.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and is vital for assessing overall business health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

OXY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+44.21%

Avg Stock Reaction

+0.10%

Last Quarter Recap

In Q1-2026, Occidental reported an EPS of $1.06, significantly beating expectations of $0.62, which resulted in a 70.14% surprise. However, the stock fell 1.54% the following day, indicating market caution despite the strong earnings.

Management Promises & Guidance

Focus on maintaining or increasing production levels.
Commitment to cost management and operational efficiency.
Plans to enhance shareholder returns through dividends or buybacks.

Expectations

Wall Street Expectations

Overall, expectations are mixed as the market anticipates continued strong performance from Occidental, but recent stock reactions suggest caution among investors.

Bull Case

If Occidental continues to exceed EPS estimates and demonstrates strong revenue growth, it could signal robust operational performance and a favorable market position.

Bear Case

On the other hand, if production levels decline or costs rise unexpectedly, it could lead to disappointing results and negative market sentiment.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported oil production levels for Q2-2026?

Production levels are crucial for revenue and profitability, and any decline could signal operational challenges.

How will management address rising operational costs?

With fluctuating oil prices, understanding cost management strategies will be key to maintaining profit margins.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising oil prices on Occidental's profitability, as recent trends suggest stronger demand than anticipated.

Supporting Evidence

Options are pricing a 3.57% move, but the stock has averaged only 1.24% over the last 8 quarters, indicating potential overpricing.

The company's recent EPS surprise of +70.14% suggests stronger operational performance than analysts expected.

Key Risk

If production levels come in significantly above expectations, it could shift market sentiment positively.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around production levels and cost management as they directly impact profitability.

Bull Confirmed If

A production increase of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A production decrease of 5% or more would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.57%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±3.6% while OXY has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

43.0%

Calls (4.1M)P/C Ratio: 0.53Puts (1.4M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Energy

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Energy in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.4%, with a raw directional average of -1.3% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Occidental beats expectations, history suggests a modest stock increase, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience limited movement as investors reassess.

Miss

If the company misses expectations, history suggests a potential decline in stock price, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on production levels and how they compare to previous quarters.
2Management's strategy for managing operational costs in a volatile market.
3Insights into future capital expenditures and investment plans.
4Discussion on the impact of global oil prices on revenue forecasts.
5Any commentary on shareholder return strategies, such as dividends or buybacks.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug3

ONBMO

ON Semiconductor Corporation

PreviewView

Aug3

LBMO

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and indicates how much money the company makes for each share of stock.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and is vital for assessing overall business health.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

OXY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+44.21%

Avg Stock Reaction

+0.10%

Last Quarter Recap

Management Promises & Guidance

Focus on maintaining or increasing production levels.
Commitment to cost management and operational efficiency.
Plans to enhance shareholder returns through dividends or buybacks.

Expectations

Wall Street Expectations

Overall, expectations are mixed as the market anticipates continued strong performance from Occidental, but recent stock reactions suggest caution among investors.

Bull Case

If Occidental continues to exceed EPS estimates and demonstrates strong revenue growth, it could signal robust operational performance and a favorable market position.

Bear Case

On the other hand, if production levels decline or costs rise unexpectedly, it could lead to disappointing results and negative market sentiment.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported oil production levels for Q2-2026?

Production levels are crucial for revenue and profitability, and any decline could signal operational challenges.

How will management address rising operational costs?

With fluctuating oil prices, understanding cost management strategies will be key to maintaining profit margins.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising oil prices on Occidental's profitability, as recent trends suggest stronger demand than anticipated.

Supporting Evidence

Options are pricing a 3.57% move, but the stock has averaged only 1.24% over the last 8 quarters, indicating potential overpricing.

The company's recent EPS surprise of +70.14% suggests stronger operational performance than analysts expected.

Key Risk

If production levels come in significantly above expectations, it could shift market sentiment positively.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around production levels and cost management as they directly impact profitability.

Bull Confirmed If

A production increase of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A production decrease of 5% or more would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.57%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a significant potential move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±3.6% while OXY has averaged ±1.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

43.0%

Calls (4.1M)P/C Ratio: 0.53Puts (1.4M)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Energy

n=30

Fade rate: 7 of 30 (23%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Occidental beats expectations, history suggests a modest stock increase, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience limited movement as investors reassess.

Miss

If the company misses expectations, history suggests a potential decline in stock price, reflecting investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on production levels and how they compare to previous quarters.
2Management's strategy for managing operational costs in a volatile market.
3Insights into future capital expenditures and investment plans.
4Discussion on the impact of global oil prices on revenue forecasts.
5Any commentary on shareholder return strategies, such as dividends or buybacks.