Occidental Petroleum Surges 17% as Oil Rally Meets Earnings Beat
Occidental Petroleum (OXY) shares rocketed 16.9% in February, fueled by a dual catalyst of climbing crude prices and a fourth-quarter earnings blowout. The rally extended into March with another 4% gain as geopolitical tensions sent Brent crude above $83/barrel.
West Texas Intermediate crude rose 2.8% to $67 in February before surging 10% to $73 in March after U.S.-Israel strikes provoked Iranian tanker attacks. Occidental’s earnings per share of $0.31 demolished the $0.17 consensus, while the dividend hike to $0.26/share reflects management’s confidence.
Institutional investors now control 88.7% of OXY, with Regal Partners Ltd establishing a new $6.62 million position. The stock remains a pure-play beneficiary of oil’s resurgence—every $1 move in crude translates directly to bottom-line impact.
