Occidental Petroleum Corporation shares have gained 35.1% over the past six months, outperforming the Zacks Oil and Gas-Integrated-United States industry's rise of 21.8%, the Zacks Oil-Energy sector's return of 23.2%, and the S&P 500 composite's 11.9% gain. The company's strategic investments and steady production growth continue to strengthen cash flow generation, with the acquisition of CrownRock L.P. enhancing its Permian Basin footprint and a new oil discovery at the Bandit prospect in the Gulf of America expected to boost long-term production. Occidental has also repaid nearly $13.9 billion of debt over the past 20 months, lowering annual interest expense by about $740 million. However, ongoing Middle East geopolitical tensions and logistical disruptions are likely to weigh on sulfur sales volumes from the region in the second quarter. The Zacks Consensus Estimate for Occidental's 2026 and 2027 earnings per share has increased 68.31% and 32%, respectively, over the past 60 days, and the stock carries a Zacks Rank #2, or Buy, rating.
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Chevron CorpOccidental Petroleum CorporationArticle reports strong stock performance, debt reduction, and positive earnings estimate revisions; no specific new event but overall positive financial profile.