Occidental Petroleum Stock Outperforms Nasdaq Composite
Occidental Petroleum Corporation (OXY) has outperformed the Nasdaq Composite in recent months, with its stock rising by 2.3% over the past three months compared to a 1.2% decline for the index. Year-to-date gains of 46% further highlight OXY's strong performance against NASX’s 14.1%. The company reported robust Q2 results in August 2026, with adjusted earnings per share (EPS) reaching $2.40—its highest since 2022—and production driven by higher realized oil prices and U.S.-based operations. Despite a decline from its 52-week high of $67.45, OXY shares have traded above their 200-day moving average for over seven months. The company also revised downward its capital spending forecast to between $5.5 billion and $5.9 billion while maintaining production guidance at around 1.43 million boe/d (barrels of oil equivalent per day). Analysts remain cautiously optimistic, assigning OXY a 'Moderate Buy' rating with an average price target suggesting potential for further gains.
Tickers: $OXY
Topics: Nasdaq Composite Occidental Petroleum oil and gas stock performance