Brokerages Set Occidental Petroleum Corporation (NYSE:OXY) Target Price at $58.83

Occidental Petroleum Corporation (NYSE:OXY) has been given an average rating of “Hold” by the twenty-six ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $59.5217.

A number of research analysts have recently commented on OXY shares. Zacks Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. The Goldman Sachs Group upped their price objective on shares of Occidental Petroleum from $41.00 to $54.00 and gave the company a “sell” rating in a research report on Wednesday, March 11th. Wolfe Research increased their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday. BMO Capital Markets increased their price target on shares of Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Finally, TD Cowen increased their price target on shares of Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd.

Key Headlines Impacting Occidental Petroleum

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

• Positive Sentiment: Oil-driven rally: Middle East conflict has lifted crude prices sharply, which boosted Occidental’s operating outlook and helped drive the stock’s recent rally. Why Occidental Petroleum Rallied in March
• Positive Sentiment: Momentum and buy signals: OXY was added to Zacks’ Rank #1 (Strong Buy) momentum lists this week, reflecting strong technical and sentiment momentum that can attract momentum-focused funds. Best Momentum Stocks to Buy for April 7th
• Positive Sentiment: Analyst upgrade and earnings setup: Wolfe Research raised its price target to $70 and kept an outperform rating, and Zacks highlights Occidental’s history of earnings surprises and a setup that could produce another beat — both support upside potential. Wolfe Research Adjusts Price Target Why Occidental Could Beat Earnings
• Neutral Sentiment: Strong one-year performance but mixed fundamentals: Zacks notes OXY has surged ~74% over the past year thanks to Permian scale, CrownRock integration and debt paydown, but also flags lagging ROE and a rich valuation — a mixed signal for longer-term investors. Occidental Outperforms Industry
• Negative Sentiment: Geopolitical tail-risk: High sensitivity to Middle East tensions is a two-way sword — commentators warn OXY could suffer significant declines if peace returns and oil prices pull back, creating clear downside risk. Jim Cramer Says Occidental Is a “Big Loser If Peace Breaks Out”
• Negative Sentiment: Volatility and valuation risk: Rapid oil gains (e.g., reports of a ~70% move in recent weeks) increase short-term volatility; with valuation described as rich by some analysts, a pullback in oil or profit-taking could pressure the stock. Oil Surged 70% in 26 Trading Days

Occidental Petroleum Stock Down 0.2%

Shares of OXY opened at $62.81 on Friday. The company has a 50-day simple moving average of $53.96 and a 200-day simple moving average of $46.44. The firm has a market capitalization of $62.29 billion, a P/E ratio of 39.01 and a beta of 0.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. Occidental Petroleum has a 52 week low of $34.78 and a 52 week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities research analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.7%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 64.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OXY. Dimensional Fund Advisors LP raised its position in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after purchasing an additional 1,883,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after buying an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP grew its stake in Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares during the last quarter. Invesco Ltd. grew its stake in Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after buying an additional 1,071,948 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Occidental Petroleum by 134.3% during the third quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after buying an additional 1,040,941 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.