Occidental Petroleum (NYSE:OXY) Price Target Raised to $54.00

Occidental Petroleum (NYSE:OXY) had its price target lifted by stock analysts at Piper Sandler from $47.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential downside of 0.18% from the company’s current price.

A number of other brokerages have also recently commented on OXY. JPMorgan Chase & Co. upped their price target on shares of Occidental Petroleum from $42.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, February 20th. Argus raised Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Morgan Stanley cut their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Barclays boosted their price objective on Occidental Petroleum from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Finally, Roth Mkm upped their price target on Occidental Petroleum from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.24.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded up $0.49 during trading hours on Thursday, hitting $54.10. 7,288,245 shares of the company’s stock traded hands, compared to its average volume of 13,054,960. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $56.34. The company has a fifty day simple moving average of $45.51 and a 200-day simple moving average of $44.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. The stock has a market capitalization of $53.36 billion, a price-to-earnings ratio of 33.60 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Equities research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Buying and Selling at Occidental Petroleum

In related news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of large investors have recently modified their holdings of the company. Woodline Partners LP raised its position in shares of Occidental Petroleum by 40.7% in the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after acquiring an additional 16,506 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 788 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Occidental Petroleum by 2.6% during the second quarter. Sigma Planning Corp now owns 13,710 shares of the oil and gas producer’s stock valued at $576,000 after buying an additional 341 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $251,000. Finally, Moors & Cabot Inc. increased its holdings in shares of Occidental Petroleum by 4.6% in the second quarter. Moors & Cabot Inc. now owns 29,642 shares of the oil and gas producer’s stock valued at $1,245,000 after purchasing an additional 1,295 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum News Roundup

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Occidental increased the maximum aggregate principal it will repurchase in ongoing cash tender offers from $700M to $1.2B — a meaningful step toward lowering debt and interest expense and improving the maturity profile. This is a direct balance‑sheet positive. Read More.
• Positive Sentiment: MarketBeat highlights Occidental’s strategic reset (sale of OxyChem) and Warren Buffett’s 29% stake as de‑risking factors that magnify upside during an oil price rally — supporting sentiment and buy‑side conviction. Read More.
• Positive Sentiment: Coverage and sentiment momentum: Zacks moved OXY from “strong sell” to “hold,” and several articles note retail and institutional (Berkshire) confidence — incremental catalysts for investor demand. Read More.
• Positive Sentiment: Short‑term price action has pushed shares to multi‑year highs amid the oil rally, reinforcing momentum investors’ interest. Read More.
• Neutral Sentiment: UBS raised its price target to $55 (from $49) but kept a “neutral” rating — modestly supportive but not a bullish upgrade. Read More.
• Neutral Sentiment: Coverage pieces note Occidental refocusing on oil & gas after the OxyChem sale; valuation is being reshaped but execution and reinvestment choices will determine long‑term impact. Read More.
• Neutral Sentiment: Operational developments include seeking a partner for a U.S. Gulf find and 1PointFive’s STRATOS DAC plant nearing startup — potential medium‑term value drivers but with execution risk. Read More. Read More.
• Negative Sentiment: Geopolitical headlines (report of Iranian contacts) have previously knocked back gains in majors, highlighting ongoing volatility risk that could reverse short‑term strength. Read More.
• Negative Sentiment: Some analyst commentary flags OXY’s underperformance versus peers over the past year, keeping portions of Wall Street cautious despite recent momentum. Read More.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.