U.S. equity futures are pointing higher again Tuesday morning, with both S&P 500 and Dow contracts in positive territory, even as Brent crude climbs above $103 a barrel and geopolitical tensions in the Middle East intensify.
Oil prices have surged since the war with Iran began. While Occidental Petroleum's stock is up since the conflict started, it hasn't surged as much as crude prices.
Occidental Petroleum jumps 26.8% in a month, beating its industry as rising oil prices, Permian strength and debt reduction support the outlook.
From December 11, 2025, to March 11, 2026, Occidental Petroleum (OXY) increased by 36%, driven by escalating margins and an advancing P/E ratio, despite a minor drop in revenues. Strategic initiatives such as a significant divestiture, favorable commodity prices, and strong earnings outperformance fueled this remarkable ascent—although a subtle pullback suggested a market adjustment.
Occidental (OXY) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
Iran struck several ships in the Strait of Hormuz over the past day. Its new Ayatollah said the Strait will remained closed, in an effort to pressure the U.S. But President Trump seemed to take the threat in stride, noting the elimination of Iran's nuclear capabilities is the bigger concern than oil prices.
Warren Buffett bet big on this popular oil stock.
Occidental Petroleum Corp (NYSE: OXY) shares are trading higher Thursday afternoon as energy stocks gain on renewed fears of supply disruption in the Middle East after multiple oil tankers were hit by explosions and Iran's new Supreme Leader said the Strait of Hormuz should remain closed to "pressure the enemy."
Occidental Petroleum (NYSE:OXY) has been on a tear with shares up a 35% year-to-date.
Recently, Zacks.com users have been paying close attention to Occidental (OXY). This makes it worthwhile to examine what the stock has in store.
In the midst of a chaotic political environment in 2026, Occidental Petroleum ( NYSE:OXY ) has surged 32.86% year-to-date and 20.36% over the past month, with retail sentiment on Reddit climbing from a quarterly average of 73.2 (bullish) to a weekly average of 81.125 (very bullish).
A year ago, the question was whether Warren Buffett's conviction in Occidental Petroleum (NYSE: OXY) was reason enough to buy the stock.