Occidental Petroleum Trading Volume Drops 47% Ranking 164th Despite Strong Earnings

On May 9, 2025, Occidental Petroleum (OXY) saw a trading volume of $489 million, a 47.28% decrease from the previous day, ranking 164th in the day's stock market activity. The stock price rose by 1.74%, marking two consecutive days of gains, with a total increase of 8.07% over the past two days.

Occidental Petroleum, backed by Warren Buffett, reported better-than-expected first-quarter earnings late Wednesday, marking the fourth consecutive quarter the oil producer has surpassed analysts' profit expectations. Chief Executive Vicki Hollub warned that Permian Basin output could "plateau sooner than we expected."

Occidental Petroleum announced Wednesday that its Q1 earnings per share (EPS) grew by 38% to 87 cents, with sales totaling $6.84 billion, up 14%. The company anticipates a modest production increase in Q2 2025 while maintaining its full-year production guidance.

The number of crews fracking shale for oil and gas has already fallen 15% this year, with crews in the Permian Basin down 20% from a peak in January. This decline in fracking activity could impact Occidental's future production levels, as the Permian Basin is a significant source of the company's oil output.

Occidental's total production rose to 1.39 million barrels of oil equivalent per day (boepd) compared with 1.17 million boepd a year earlier. This increase in production reflects the company's efforts to expand its operations and capitalize on favorable market conditions.