Feb. 19 at 8:46 PM
Occidental Petroleum surged 10% after Q4 adjusted earnings of
$0.31 per share beat estimates. The company’s 2026 capital expenditure guidance of
$5.7B is over 10% below Wall Street expectations, boosting investor sentiment. Occidental also raised its quarterly dividend by 8% to
$0.26 per share.
Revenue fell to
$5.11B from
$5.64B a year ago, missing forecasts, though midstream and marketing divisions grew. The oil and gas segment, the bulk of revenue, declined to
$4.81B. Efficiency gains, lower unconventional U.S. oil activity, and reduced exploration spending contributed to capex savings.
Peer stocks rose modestly amid U.S.-Iran tensions pushing oil prices higher: ConocoPhillips +1.4%, Chevron +1.1%, Exxon Mobil +0.8%. Occidental shares are up 25% in 2026, outpacing the 14% gain in West Texas Intermediate (WBS00).
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