Analyst Consensus ?
ConsensusHold49 ratings
Bullish2551.0%
Neutral2244.9%
Bearish24.1%
Occidental Petroleum Corporation · OXY · FY2025 Q3 · Calendar Q4 2025
Occidental pairs balance-sheet repair with production and CO2-EOR plans
The current quarter strengthens the case that Occidental can support future growth through resilient production, cost reductions, balance-sheet repair and targeted CO2-EOR investment. The evidence is constructive, but the thesis still depends on oil-price resilience and execution of the CO2-EOR and STRATOS projects.
Reported After market closeNYSEEnergy
$57.77B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.64
Consensus $0.51
EPS surprise
+25.0%
Reported versus consensus
Reported revenue
$6.62B
Consensus $6.75B
Revenue surprise
-1.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.1%
Event window
SPY move
+0.2%
Same window
Abnormal move
-0.1%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-0.2%
Up to 20 sessions
OXYSPY benchmark
Ask FN2 about OXY FY2025 Q3
Transcript, numbers and history already loaded
Why did OXY rise 0.1% after beating EPS estimates in FY2025 Q3?What changed in OXY's guidance and outlook in FY2025 Q3?Give me the bull and bear case for OXY after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Occidental moved from debt reduction and STRATOS commissioning toward a completed OxyChem sale, a lower targeted debt balance, stronger reported production and a defined 2026 capex range. The company also emphasized CO2-EOR commercialization and raised full-year guidance.
Guidance delta
Management raised full-year guidance and set a flexible 2026 capex range of $6.3 billion to $6.7 billion, focused on high-return Permian work, Gulf of America waterfloods, and Oman.
Key takeaways
- The OxyChem sale supplied about $6.5 billion of cash, supporting debt reduction toward a target below $15 billion.
- Third-quarter production of 1.47 million BOE/d exceeded guidance, while management cited record Permian output and low lease operating costs.
- Management reported $3.2 billion of operating cash flow and $1.5 billion of free cash flow despite lower oil prices.
- Cost efficiencies have delivered $2 billion of annualized savings, and capital spending was reduced by $300 million year to date.
- CO2-EOR projects and the STRATOS plant are positioned as longer-term production and carbon-management initiatives.
Management priorities
- Reduce debt following the OxyChem sale.
- Prioritize high-return Permian development and Gulf of America and Oman waterflood projects.
- Advance CO2-EOR projects and begin CO2 injection at STRATOS in Q1.
- Continue cost-efficiency and supply-chain savings.
- Maintain an opportunistic share-repurchase program while targeting a $3 billion to $4 billion cash balance.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$58.08Current
$24Low
$61.79Average
$86High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Goldman Sachs | Buy | Neutral | Upgrade | Oct 1, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 14, 2026 |
| UBS | Neutral | Neutral | Maintain | Sep 14, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 11, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 17, 2026 |
| Susquehanna | Positive | Positive | Maintain | Aug 11, 2026 |
| Truist Securities | Hold | Hold | Maintain | Aug 10, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 17, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 14, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 29, 2026 |
| Mizuho | Outperform | Outperform | Maintain | May 27, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Apr 22, 2026 |
| JP Morgan | Neutral | Underweight | Upgrade | Mar 20, 2026 |
| HSBC | Buy | Buy | Maintain | Mar 20, 2026 |
| Piper Sandler | Overweight | Neutral | Upgrade | Mar 12, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Feb 23, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Dec 11, 2025 |
| Roth Capital | Neutral | Neutral | Maintain | Oct 2, 2025 |
| TD Cowen | Hold | Buy | Downgrade | Apr 8, 2025 |
| Raymond James | Outperform | Strong Buy | Downgrade | Mar 10, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Nov 10, 2023 |
| Roth MKM | Neutral | Neutral | Maintain | Sep 12, 2023 |
| Credit Suisse | Underperform | Underperform | Maintain | Nov 9, 2022 |
| Tudor Pickering | Hold | Buy | Downgrade | Aug 19, 2022 |
| Stifel | Buy | Buy | Maintain | Apr 6, 2022 |
| MKM Partners | Buy | Buy | Maintain | Mar 1, 2022 |
| Societe Generale | Buy | Buy | Maintain | Jan 4, 2022 |
| SunTrust Robinson Humphrey | Buy | Hold | Upgrade | Jun 19, 2020 |
| Jefferies | Underperform | Hold | Downgrade | Mar 16, 2020 |
| Argus Research | Hold | Buy | Downgrade | May 16, 2019 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Apr 25, 2019 |
| KeyBanc | Overweight | Overweight | Maintain | Apr 22, 2019 |
| Oppenheimer | Perform | Perform | Maintain | Mar 27, 2019 |
| Edward Jones | Buy | Hold | Upgrade | Sep 18, 2018 |
| Bank of America | Buy | Buy | Maintain | Aug 17, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| PiperJaffray | Overweight | Neutral | Upgrade | Apr 16, 2018 |
| Deutsche Bank | Buy | Hold | Upgrade | Mar 23, 2018 |
| Mizuho Securities | Buy | Buy | Maintain | Oct 6, 2016 |
| GMP Securities | Buy | Buy | Maintain | Feb 3, 2016 |
| iBERIA Capital Partners | Sector Perform | Outperform | Downgrade | Dec 17, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Dec 15, 2014 |
| Simmons & Co. | Neutral | Overweight | Downgrade | Aug 13, 2014 |
| Seaport Global | Neutral | Neutral | Maintain | Apr 23, 2014 |
| Scotia Howard Weil | Sector Perform | Sector Outperform | Downgrade | Jan 8, 2014 |
| Guggenheim | Buy | Buy | Maintain | Sep 12, 2013 |
| Standpoint Research | Hold | Buy | Downgrade | May 3, 2013 |
| Dahlman Rose | Buy | Buy | Maintain | Dec 11, 2012 |
| Macquarie | Neutral | Outperform | Downgrade | Oct 26, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $58.08. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Neil Mehta | $69 | $55.32 | +18.8% | Oct 1, 2026 |
| Wells Fargo | Analyst unavailable | $82 | $61.46 | +41.2% | Sep 14, 2026 |
| UBS | Josh Silverstein | $67 | $61.46 | +15.4% | Sep 14, 2026 |
| Evercore ISI | Stephen Richardson | $70 | $61.24 | +20.5% | Sep 11, 2026 |
| Seaport Global | Analyst unavailable | $73 | $60.91 | +25.7% | Sep 3, 2026 |
| Barclays | Betty Jiang | $71 | $58.36 | +22.2% | Aug 17, 2026 |
| Truist Financial | Gabe Daoud | $63 | $57.98 | +8.5% | Aug 10, 2026 |
| Morgan Stanley | Analyst unavailable | $69 | $56.06 | +18.8% | Aug 7, 2026 |
| Wells Fargo | Analyst unavailable | $79 | $56.04 | +36.0% | Aug 7, 2026 |
| Barclays | Analyst unavailable | $75 | $53.81 | +29.1% | Aug 6, 2026 |
| Evercore ISI | Analyst unavailable | $65 | $51.68 | +11.9% | Jul 8, 2026 |
| Morgan Stanley | Analyst unavailable | $68 | $49.99 | +17.1% | Jun 29, 2026 |
| Mizuho Securities | Analyst unavailable | $75 | $57.46 | +29.1% | May 27, 2026 |
| Barclays | Betty Jiang | $72 | $58.81 | +24.0% | May 26, 2026 |
| Goldman Sachs | Analyst unavailable | $64 | $58.87 | +10.2% | May 20, 2026 |
| Truist Financial | Analyst unavailable | $57 | $54.02 | -1.9% | May 8, 2026 |
| UBS | Analyst unavailable | $65 | $53.69 | +11.9% | May 7, 2026 |
| Raymond James | Analyst unavailable | $75 | $59.24 | +29.1% | May 4, 2026 |
| Wells Fargo | Sam Margolin | $72 | $58.53 | +24.0% | Apr 9, 2026 |
| Wells Fargo | Roger Read | $69 | $55.58 | +18.8% | Mar 12, 2026 |
| Piper Sandler | Mark Lear | $66 | $55.58 | +13.6% | Mar 12, 2026 |
| BMO Capital | Analyst unavailable | $60 | $52.98 | +3.3% | Feb 23, 2026 |
| Barclays | Analyst unavailable | $55 | $51.23 | -5.3% | Feb 20, 2026 |
| Susquehanna | Charles Minervino | $60 | $51.76 | +3.3% | Feb 20, 2026 |
| UBS | Analyst unavailable | $49 | $51.78 | -15.6% | Feb 20, 2026 |
| Morgan Stanley | Devin McDermott | $53 | $52.12 | -8.7% | Feb 20, 2026 |
| Roth Capital | Analyst unavailable | $45 | $51.53 | -22.5% | Feb 19, 2026 |
| Mizuho Securities | Analyst unavailable | $67 | $47.11 | +15.4% | Feb 19, 2026 |
| Susquehanna | Charles Minervino | $51 | $43.93 | -12.2% | Jan 26, 2026 |
| Scotiabank | Analyst unavailable | $46 | $42.8 | -20.8% | Jan 16, 2026 |
| UBS | Analyst unavailable | $43 | $41.02 | -26.0% | Dec 12, 2025 |
| Raymond James | John Freeman | $50 | $41.43 | -13.9% | Nov 25, 2025 |
| Morgan Stanley | Devin McDermott | $51 | $41.44 | -12.2% | Nov 20, 2025 |
| Piper Sandler | Mark Lear | $46 | $42.52 | -20.8% | Nov 18, 2025 |
| Mizuho Securities | Nitin Kumar | $64 | $41.8 | +10.2% | Nov 11, 2025 |
| Piper Sandler | Ryan Todd | $47 | $40.94 | -19.1% | Oct 21, 2025 |
| Susquehanna | Analyst unavailable | $55 | $40.9 | -5.3% | Oct 20, 2025 |
| Scotiabank | Paul Cheng | $47 | $44.7 | -19.1% | Oct 9, 2025 |
| Evercore ISI | Analyst unavailable | $38 | $44.23 | -34.6% | Oct 3, 2025 |
| UBS | Analyst unavailable | $45 | $44.23 | -22.5% | Oct 3, 2025 |
| Mizuho Securities | Analyst unavailable | $60 | $44.23 | +3.3% | Oct 3, 2025 |
| HSBC | Analyst unavailable | $55 | $44.23 | -5.3% | Oct 3, 2025 |
| Roth Capital | Analyst unavailable | $46 | $47.72 | -20.8% | Oct 2, 2025 |
| Barclays | Betty Jiang | $48 | $47.47 | -17.4% | Sep 29, 2025 |
| Mizuho Securities | Nitin Kumar | $58 | $45.47 | -0.1% | Sep 15, 2025 |
| UBS | Analyst unavailable | $46 | $45.67 | -20.8% | Sep 15, 2025 |
| Scotiabank | Paul Cheng | $45 | $46.31 | -22.5% | Jul 11, 2025 |
| Piper Sandler | Analyst unavailable | $48 | $39.97 | -17.4% | Apr 22, 2025 |
| Morgan Stanley | Devin McDermott | $58 | $50.04 | -0.1% | Mar 26, 2025 |
| Roth Capital | Leo Mariani | $54 | $50.34 | -7.0% | Jan 23, 2025 |
| Piper Sandler | Ryan Todd | $51 | $48.05 | -12.2% | Dec 19, 2024 |
| Susquehanna | Biju Perincheril | $77 | $51.72 | +32.6% | Oct 18, 2024 |
| Bank of America Securities | Jean Ann Salisbury | $57 | $51.26 | -1.9% | Oct 17, 2024 |
| Mizuho Securities | Nitin Kumar | $72 | $51.56 | +24.0% | Oct 16, 2024 |
| Scotiabank | Paul Cheng | $65 | $53.9 | +11.9% | Oct 10, 2024 |
| Barclays | Betty Jiang | $58 | $53.25 | -0.1% | Oct 2, 2024 |
| Barclays | Betty Jiang | $67 | $57.61 | +15.4% | Aug 18, 2024 |
| Stephens | Mike Scialla | $76 | $61.21 | +30.9% | Jul 22, 2024 |
| Truist Financial | Neal Dingmann | $67 | $61.21 | +15.4% | Jul 22, 2024 |
| Scotiabank | Paul Cheng | $80 | $61.48 | +37.7% | Jul 12, 2024 |
| Truist Financial | Neal Dingmann | $69 | $63.38 | +18.8% | May 16, 2024 |
| Mizuho Securities | Nitin Kumar | $70 | $68.94 | +20.5% | Apr 11, 2024 |
| Scotiabank | Paul Cheng | $90 | $68.94 | +55.0% | Apr 11, 2024 |
| Wells Fargo | Roger Read | $70 | $68.94 | +20.5% | Apr 10, 2024 |
| Barclays | Analyst unavailable | $73 | $68.55 | +25.7% | Apr 9, 2024 |
| HSBC | Samantha Hoh | $65 | $69.25 | +11.9% | Apr 8, 2024 |
| Morgan Stanley | Devin McDermott | $72 | $64.5 | +24.0% | Mar 28, 2024 |
| Mizuho Securities | Nitin Kumar | $69 | $63.81 | +18.8% | Mar 22, 2024 |
| Roth Capital | Roth MKM Ratings | $60 | $64.07 | +3.3% | Aug 21, 2023 |
| Truist Financial | Neal Dingmann | $80 | $62.55 | +37.7% | Aug 16, 2023 |
| Stephens | Mike Scialla | $69 | $60.22 | +18.8% | Jul 18, 2023 |
| Wells Fargo | Analyst unavailable | $67 | $63.73 | +15.4% | Jan 10, 2023 |
| Piper Sandler | Analyst unavailable | $69 | $62.53 | +18.8% | Dec 19, 2022 |
| Morgan Stanley | Analyst unavailable | $76 | $67.26 | +30.9% | Sep 6, 2022 |
| Wells Fargo | Analyst unavailable | $59 | $60.99 | +1.6% | Aug 4, 2022 |
| Barclays | Jeanine Wai | $79 | $62.95 | +36.0% | Jul 28, 2022 |
| Truist Financial | Analyst unavailable | $105 | $60.99 | +80.8% | Jul 19, 2022 |
| Mizuho Securities | Analyst unavailable | $84 | $60.86 | +44.6% | Jul 19, 2022 |
| Goldman Sachs | Neil Mehta | $70 | $59.52 | +20.5% | Jul 11, 2022 |
| Morgan Stanley | Analyst unavailable | $74 | $55.68 | +27.4% | Jun 21, 2022 |
| Morgan Stanley | Analyst unavailable | $73 | $70.29 | +25.7% | Jun 6, 2022 |
| Mizuho Securities | Analyst unavailable | $89 | $73.35 | +53.2% | May 31, 2022 |
| Capital One Financial | Richard Tullis | $85 | $63.26 | +46.3% | May 23, 2022 |
| Wells Fargo | Analyst unavailable | $58 | $60.1 | -0.1% | May 12, 2022 |
| Stifel Nicolaus | Michael Scialla | $86 | $60.1 | +48.1% | May 12, 2022 |
| Susquehanna | Biju Perincheril | $71 | $57.03 | +22.2% | Apr 28, 2022 |
| Truist Financial | Neal Dingmann | $86 | $54.82 | +48.1% | Apr 26, 2022 |
| Raymond James | Analyst unavailable | $90 | $56.62 | +55.0% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $70 | $57 | +20.5% | Apr 22, 2022 |
| Barclays | Analyst unavailable | $74 | $58.31 | +27.4% | Apr 22, 2022 |
| Piper Sandler | Ryan Todd | $88 | $57.92 | +51.5% | Apr 11, 2022 |
| Stifel Nicolaus | Michael Scialia | $84 | $61.8 | +44.6% | Apr 10, 2022 |
| Jefferies | Giacomo Romeo | $63 | $56.1 | +8.5% | Apr 6, 2022 |
| Mizuho Securities | Vincent Lovaglio | $85 | $58.11 | +46.3% | Apr 3, 2022 |
| Raymond James | John Freeman | $85 | $57.48 | +46.3% | Mar 30, 2022 |
| BMO Capital | Phillip Jungwirth | $52 | $56.64 | -10.5% | Mar 28, 2022 |
| Morgan Stanley | Devin McDermott | $52 | $55.59 | -10.5% | Mar 14, 2022 |
| Wells Fargo | Roger Read | $51 | $57.95 | -12.2% | Mar 11, 2022 |
| J.P. Morgan | Phil Gresh | $66 | $57.95 | +13.6% | Mar 11, 2022 |
| Bank of America Securities | Doug Leggate | $80 | $58.13 | +37.7% | Mar 10, 2022 |
| Scotiabank | Paul Cheng | $57 | $54.47 | -1.9% | Mar 8, 2022 |
| Susquehanna | Biju Perincheril | $52 | $46.68 | -10.5% | Mar 1, 2022 |
| MKM Partners | John Gerdes | $50 | $46.68 | -13.9% | Mar 1, 2022 |
| Morgan Stanley | Devin McDermott | $50 | $36.77 | -13.9% | Jan 25, 2022 |
| Citigroup | Scott Gruber | $40 | $36.68 | -31.1% | Jan 25, 2022 |
| Societe Generale | Raphael Dubois | $43 | $33.3 | -26.0% | Jan 4, 2022 |
| Wolfe Research | Josh Silverstein | $42 | $28.67 | -27.7% | Dec 14, 2021 |
| Credit Suisse | William Janela | $28 | $33.33 | -51.8% | Nov 5, 2021 |
| Cowen & Co. | David Deckelbaum | $35 | $32.19 | -39.7% | Oct 13, 2021 |
| UBS | Lloyd Byrne | $24 | $31.17 | -58.7% | Jun 30, 2021 |
| Goldman Sachs | Neil Mehta | $31 | $25.98 | -46.6% | May 27, 2021 |
Track every rating change on OXY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationOccidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through Oil and Gas and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. This segment also optimizes its transportation and storage capacity and invests in entities. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
Historical context
All OXY earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the OXY recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T04:50:45.728878+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T04:50:45.726179+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.