OXY's Q1: The Good, The Bad, and The Pretty

May 8, 2026

Occidental Petroleum (“OXY”) reported Q1 2026 earnings this week, and for readers, we’ve long argued that it’s one of the most underpriced stocks in the E&P space.

To be fair, this was a mixed quarter. It was great in the sense the company executed and delivered what it promised. It was terrific because the company outperformed in certain areas. Unfortunately, it was also terrible because the management team blundered into a costly derivative, but maybe, just maybe, there’ll be salvation. Let’s get into it.