Occidental Petroleum stock falls as oil weakens and earnings beat

Occidental Petroleum stock (ISIN US6745991058) closed at USD 60.08 on September 16, 2026, down USD 3.44 or 5.42 percent. The move came as crude prices slipped, and StockStory said on September 16, 2026 that second-quarter revenue reached USD 8.33 billion, up 57.1 percent year on year.

Q2 still sets the tone

StockStory reported on September 16, 2026 that Occidental Petroleum's Q2 revenue of USD 8.33 billion beat analysts' expectations by 15.3 percent. That same report said the stock traded at USD 63.45 after the earnings release, underlining how much of the recent narrative still comes from the August 5 results.

TradingKey said on September 16, 2026 that the company's latest annual revenue was USD 21.59 billion and net profit was USD 1.61 billion. The same item said multiple analysts had a Buy view with an average price target of USD 68.85, a high of USD 82.00 and a low of USD 55.00.

Oil pressure hits the shares

Reuters reported on September 16, 2026 that Brent crude futures were down USD 1.69, or 1.55 percent, at USD 107.06 a barrel, while WTI was down USD 2.6, or 2.46 percent, at USD 103.23. That commodity slide mattered for Occidental Petroleum stock because the group remains tightly tied to upstream pricing and cash flow sensitivity.

Quiver Quant said on September 16, 2026 that Occidental Petroleum's latest major investor update remains its August 5 second-quarter results. The same report pointed to a median price target of USD 67.0 from 9 analysts over the last 6 months, which leaves the shares below that reference point after the September 16 decline.

Price after the drop

Occidental Petroleum stock ended September 16, 2026 at USD 60.08 on the NYSE. That leaves the shares 3.37 percent below USD 62.17, the opening level implied by the move.

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