Occidental Petroleum stock gains as quarterly profit and dividend rise

Occidental Petroleum stock (ISIN US6745991058) is trading close to the 60 dollar mark as of August 28, 2026, after a strong earnings report earlier in August showed a sharp jump in profit and revenue compared with the prior year quarter, according to data compiled by MarketBeat and StockAnalysis as of September 1, 2026.

Latest quarter shows profit and revenue surge

In its most recent reported quarter, which ended on August 5, 2026, Occidental Petroleum delivered earnings per share of 2.40 dollars, clearly above the analysts' consensus estimate of 1.83 dollars for the period, based on an overview published by MarketBeat on September 1, 2026.

According to the same MarketBeat summary dated September 1, 2026, quarterly revenue reached 8.06 billion dollars, beating a consensus level of 7.07 billion dollars and marking a year-over-year increase of 53.4 percent compared with the same quarter of the previous year when revenue stood at about 5.25 billion dollars.

The MarketBeat figures also show that in the prior-year quarter Occidental Petroleum earned only 0.39 dollars per share, so the most recent EPS of 2.40 dollars represents a jump of more than five times year over year for Q3 2026, underlining how strongly higher energy prices and operational improvements have lifted profitability.

Return on equity in the latest reported quarter was 15.31 percent and the net margin reached 28.36 percent, according to the MarketBeat data as of September 1, 2026, illustrating that the company is converting a substantial share of its revenue into bottom-line profit compared with earlier periods.

Dividend increase and analyst expectations

Alongside the earnings surprise, Occidental Petroleum has increased its shareholder payout: MarketBeat reports that the company raised its quarterly dividend from 0.26 dollars to 0.28 dollars per share, with the higher amount to be paid on October 15, 2026 to shareholders of record on September 10, 2026 and an ex-dividend date of September 10, 2026.

On an annualized basis this new dividend level of 0.28 dollars per quarter implies a total annual dividend of 1.12 dollars per share and a yield of about 1.9 percent at current price levels, with a dividend payout ratio of 16.10 percent, leaving significant room for reinvestment and potential future dividend growth.

Based on the analyst consensus summarized by MarketBeat on September 1, 2026, equities analysts currently expect Occidental Petroleum to post full-year earnings per share of around 6.09 dollars for the current fiscal year, which, if achieved, would align with the strong quarterly numbers reported in August 2026.

The same consensus snapshot indicates that the average rating on the shares is hold and that the average 12 month price target stands close to 64 to 66 dollars, moderately above the recent share price noted in StockAnalysis and other portals as of late August 2026.

Technical picture supports the trend

Technical indicators for Occidental Petroleum are currently pointing upward: according to a technical analysis overview from FXEmpire last updated on September 1, 2026, the 10 day simple moving average is at 59.97 dollars and the 20 day simple moving average stands at 58.83 dollars, both signaling a buy on the daily chart.

The same FXEmpire snapshot notes that the 14 day relative strength index reading is around 62.91, which is classified as neutral but close to overbought territory, suggesting strong recent momentum with a possibility of short term consolidation if profit taking sets in around current price levels.

FXEmpire also highlights that moving averages for Occidental Petroleum are in a strong buy configuration on the one day timeframe while oscillators show some selling pressure, a combination that usually points to a prevailing uptrend but also calls for investors to watch for potential pullbacks from key resistance levels such as the 60 to 61 dollar area.

Pivot point data from the same analysis, dated September 1, 2026, show a central pivot level at about 60.17 dollars, with first resistance near 60.96 dollars and second resistance near 61.75 dollars, framing the near term trading corridor in which Occidental Petroleum stock has been moving at the end of August 2026.

Oil price backdrop and positioning

The broader energy market context also plays a role for Occidental Petroleum: a market recap published by TradingKey on September 1, 2026 notes that Brent crude oil has topped 90 dollars per barrel amid renewed geopolitical tensions, which tends to support the earnings power of oil producers with leverage to global crude pricing.

With the latest quarterly revenue up 53.4 percent year over year and net margin at 28.36 percent, Occidental Petroleum appears well positioned to benefit from elevated oil prices, although the same conditions can increase volatility and require disciplined capital allocation to navigate potential swings in the commodity cycle.

Institutional interest remains visible as well: recent filings summarized by MarketBeat on September 1, 2026 indicate that large asset managers and pension funds have been active in Occidental Petroleum shares, with position changes reflecting confidence in the company’s strategy and capital returns following its dividend increase.

For investors comparing Occidental Petroleum to European integrated peers such as Shell or BP, the current combination of high earnings growth, a modest dividend yield of about 1.9 percent and a consensus hold rating suggests a balanced risk profile relative to the more diversified business models of those DACH related energy names.

Low carbon portfolio and carbon capture projects

Beyond conventional oil and gas operations, Occidental Petroleum has been emphasizing its ambition to build a leading low carbon business, including large scale carbon capture and storage projects as outlined on the company’s corporate site oxy.com in recent months.

One of the flagship initiatives in this area is the development of direct air capture facilities intended to remove significant volumes of carbon dioxide from the atmosphere, which Occidental Petroleum aims to pair with long term offtake agreements with industrial customers seeking to reduce their net emissions footprint.

While recent quarterly figures still derive the majority of revenue and profit from upstream oil and gas activities, the company’s low carbon projects represent a strategic bet that could diversify earnings over time and may become an increasingly important valuation driver if regulatory frameworks and carbon pricing mechanisms expand further.

For retail investors, these low carbon initiatives can offer a differentiated angle compared with traditional exploration and production companies, but they also require careful monitoring of capital expenditure, execution milestones and potential policy support to assess how quickly such projects can contribute meaningfully to cash flow.

Occidental Petroleum stock and recent price level

As of the close of trading on August 28, 2026 on the New York Stock Exchange, Occidental Petroleum stock was quoted at 59.10 dollars, according to a price history overview from MarketScreener accessed on September 1, 2026.

This closing price of 59.10 dollars on August 28, 2026 represents a five day change near flat and a year to date performance of about plus 43.73 percent, illustrating how strongly the shares have recovered over the course of 2026 in line with the improving earnings picture.

Intraday data from FXEmpire on September 1, 2026 show that Occidental Petroleum recently traded around 60.18 dollars, up 1.83 percent from the previous close, underlining that the stock remains supported by bullish technical trends and the positive sentiment following the August 5, 2026 earnings release.