Occidental Petroleum Corp. (NYSE:OXY) shares rose Tuesday after the company reported a fiscal third-quarter 2025 earnings beat post-market Monday.

Earnings Snapshot

The company reported adjusted EPS of 64 cents, surpassing the street view of 52 cents, and sales of $6.72 billion slightly came above the consensus of $6.68 billion.

Total average global production in the quarter surpassed the upper end of guidance, reaching 1,465 thousand barrels of oil equivalent per day (Mboed).

Also Read: Occidental Petroleum Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Average production in the Permian basin stood at 800 Mboed in the quarter.

For the fourth quarter, the company sees the total production of 1,440-1,480 Mboed, with Permian production of 795-815 Mboed.

JP Morgan Analyst View

Analyst Arun Jayaram writes that management gave an update about reallocating OxyChem capex to high-return Gulf of America (GoA) water floods, Enhanced Oil Recovery (EOR) projects, and low-cost Permian Basin acreage.

The analyst notes that third-quarter production volume came 1.6% above JPMe estimates, driven by stronger Rockies well performance, higher Permian base production, and no GoA storm impacts, offsetting third-party headwinds in Oman.

Jayaram further writes that the company lowered U.S. opex guidance by $20 million, with YTD well costs down 14% in the Permian and 12% in the Rockies.

Meanwhile, OXY raised its resource estimate around 18% to 16.5 BBoe, reflecting upside from EoR, secondary benches, and expanded Barnett acreage (115K acres), notes the analyst.

Goldman Sachs Analyst Take

Analyst Neil Mehta writes that Occidental Petroleum beat Goldman Sachs estimates in the quarter, with adjusted EPS above their estimates of 50 cents.

Production slightly exceeded their forecasts at 746 Mboed oil and 1,465 Mboed total, adds the analyst.

Also, Mehta notes that OXY's fourth-quarter production guidance compares with their estimate of 1,442 Mboed.

Price Action: OXY shares were trading higher by 2.98% to $43.05 at last check Tuesday.

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