On August 6, Occidental rose 3.1% in pre-market trading, trading at approximately $55.23/share, with turnover of $1.4785 million.

The movement was driven by the company's strong Q2 earnings release. Occidental posted quarterly revenue of $8.33 billion, significantly exceeding the FactSet consensus estimate of $7.07 billion by nearly 18%. Global production climbed to 1.433 million barrels of oil equivalent per day, surpassing the upper end of prior guidance. The company also raised its quarterly dividend by 8% to $0.28 per share — the second increase this year — and indicated full-year free cash flow is expected to improve by over $1.2 billion, excluding oil price tailwinds.

Looking ahead, Occidental guided Q3 Permian Basin production at 795,000 to 815,000 boe/d, signaling continued growth momentum in its core operating region. Separately, Evercore ISI recently upgraded the stock to Outperform with a $65 target price, citing the company's deleveraging progress and improving free cash flow trajectory.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)