Equity Profile

OXY

Occidental Petroleum Corporation

EnergyIntegrated Oil & Gas$57.7B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Occidental Petroleum Corporation (OXY) is a major player in the energy sector, focusing on oil and gas exploration and production. With a market cap of $58 billion, the company is significant in discussions about energy supply and pricing, especially as global demand fluctuates and sustainability becomes a larger theme in the industry.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

$1.23

Revenue

Revenue figures will provide insight into overall sales performance and market demand for oil and gas.

$6.5B

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. However, the stock reacted negatively, dropping 1.54% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Occidental's upcoming earnings, expecting solid performance in EPS and revenue. The market is weighing potential impacts from fluctuating oil prices and operational efficiencies.

Bull Case

If Occidental can exceed the EPS estimate and show strong revenue growth, it may signal effective cost management and robust demand, boosting investor confidence.

Bear Case

Conversely, if the company misses its earnings targets or shows weakness in revenue, it could raise concerns about operational challenges and market conditions, leading to a negative stock reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.23

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

Revenue

$6.5B

Revenue figures will provide insight into overall sales performance and market demand for oil and gas.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Occidental's EPS exceed the consensus estimate of $1.23?

A beat on EPS could indicate strong operational performance and cost management, which would be crucial for investor sentiment.

What is the revenue outlook given the current oil price environment?

Revenue performance will be closely scrutinized to assess demand trends and pricing power in a volatile market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of recent cost-cutting measures and operational efficiencies that could lead to a stronger-than-expected EPS.

Supporting Evidence

Occidental's recent performance has shown a trend of beating EPS estimates, indicating potential for continued outperformance.

The options market is pricing in a relatively modest move, suggesting that traders may not fully anticipate a significant earnings surprise.

Key Risk

If oil prices rebound significantly, it could drive revenue and earnings above current consensus estimates.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it reflects the company's ability to navigate a challenging energy market.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $1.00 would validate the bear case, raising concerns about operational efficiency.

Pre-Earnings Positioning

Options Market

Implied Move

±3.57%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a move of approximately 3.57%, suggesting that traders expect some volatility around the earnings report.

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 -1.6% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Occidental beats expectations, history suggests the stock may see a modest reaction, potentially confirming a positive trend.

In-Line / Cautious

If results come in line with expectations, the stock may remain stable, but cautious commentary could lead to volatility.

Miss

A miss on earnings could lead to a decline in stock price, with history indicating an average drop of around 0.65%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies and their impact on profitability.
2Insights into production levels and how they align with market demand.
3Comments on the outlook for oil prices and their expected impact on revenue.
4Details on any new projects or investments that could drive future growth.
5Management's perspective on competitive pressures in the energy sector.

See the full picture

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

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

$1.23

Revenue

Revenue figures will provide insight into overall sales performance and market demand for oil and gas.

$6.5B

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. However, the stock reacted negatively, dropping 1.54% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Occidental can exceed the EPS estimate and show strong revenue growth, it may signal effective cost management and robust demand, boosting investor confidence.

Bear Case

Conversely, if the company misses its earnings targets or shows weakness in revenue, it could raise concerns about operational challenges and market conditions, leading to a negative stock reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.23

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

Revenue

$6.5B

Revenue figures will provide insight into overall sales performance and market demand for oil and gas.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Occidental's EPS exceed the consensus estimate of $1.23?

A beat on EPS could indicate strong operational performance and cost management, which would be crucial for investor sentiment.

What is the revenue outlook given the current oil price environment?

Revenue performance will be closely scrutinized to assess demand trends and pricing power in a volatile market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of recent cost-cutting measures and operational efficiencies that could lead to a stronger-than-expected EPS.

Supporting Evidence

Occidental's recent performance has shown a trend of beating EPS estimates, indicating potential for continued outperformance.

The options market is pricing in a relatively modest move, suggesting that traders may not fully anticipate a significant earnings surprise.

Key Risk

If oil prices rebound significantly, it could drive revenue and earnings above current consensus estimates.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it reflects the company's ability to navigate a challenging energy market.

Bull Confirmed If

An EPS of $1.30 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $1.00 would validate the bear case, raising concerns about operational efficiency.

Pre-Earnings Positioning

Options Market

Implied Move

±3.57%

Historical Avg

±1.2%

Pricing rich

The options market is pricing in a move of approximately 3.57%, suggesting that traders expect some volatility around the earnings report.

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 the stock may see a modest reaction, potentially confirming a positive trend.

In-Line / Cautious

If results come in line with expectations, the stock may remain stable, but cautious commentary could lead to volatility.

Miss

A miss on earnings could lead to a decline in stock price, with history indicating an average drop of around 0.65%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost management strategies and their impact on profitability.
2Insights into production levels and how they align with market demand.
3Comments on the outlook for oil prices and their expected impact on revenue.
4Details on any new projects or investments that could drive future growth.
5Management's perspective on competitive pressures in the energy sector.