Energy Q4 Earnings: Chevron Tops, OXY Trails

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On April 29, 2026, the latest Q4 earnings season for energy stocks highlights a sharp divide, with Chevron outperforming while Occidental Petroleum struggles to meet expectations.

Energy Stocks Split: Who Leads?

“Fortunes favor the bold,” yet Q4 earnings showed uneven results across diversified upstream E&P firms. As a group, revenues beat estimates by 3%, reflecting modest resilience despite market volatility.

Occidental Petroleum posted $5.42 billion in revenue, down 20.7% year on year and missing forecasts by 6%. It also lagged EBITDA expectations, marking the weakest performance among peers. Still, its stock rose 21.5% to $57.24.

Chevron Outshines Peers

Chevron led the quarter with $46.87 billion in revenue, declining 10.2% annually but surpassing expectations by 2.6%. Strong earnings lifted its shares 8.1% to $184.97.

Overall, the sector’s stocks gained 11.7% on average, signaling steady investor confidence.