Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Occidental Petroleum (NYSE:OXY) had its target price boosted by Wells Fargo & Company from $69.00 to $72.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 20.60% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their price objective on Occidental Petroleum from $53.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, March 27th. Wolfe Research boosted their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday. Argus raised Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. Bank of America upped their price target on Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Finally, Piper Sandler upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.87.

Occidental Petroleum Trading Down 0.1%

OXY opened at $59.70 on Thursday. The company has a market cap of $59.21 billion, a P/E ratio of 37.11 and a beta of 0.23. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $54.26 and its 200-day moving average is $46.53. Occidental Petroleum has a 1-year low of $35.67 and a 1-year high of $67.45.

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

Institutional Trading of Occidental Petroleum

Large investors have recently made changes to their positions in the company. Caitlin John LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $29,000. Activest Wealth Management lifted its holdings in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares in the last quarter. Rossby Financial LCC grew its position in Occidental Petroleum by 155.0% in the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the period. City Holding Co. increased its stake in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new position in Occidental Petroleum during the third quarter worth $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Occidental announced an oil discovery at the Bandit prospect (Green Canyon Block 680). OXY is the operator with a ~45.375% working interest; the well encountered high‑quality, full‑to‑base oil‑bearing Miocene sands — a discovery that can add reserves optionality and supports future production upside. Occidental Announces Gulf of America Oil Discovery at Bandit
• Positive Sentiment: BMO Capital Markets raised its price target on OXY to $65 (from $60) while maintaining a Market Perform rating — a modest analyst upgrade that provides some near‑term upside support to the stock. MarketScreener
• Neutral Sentiment: OXY’s stock has rallied strongly year‑to‑date and over the past 12 months (major gains driven by higher oil prices and asset moves). That momentum attracts investor interest but raises valuation questions for some investors. Has Occidental Petroleum (OXY) Run Too Far After Its 78% One Year Rally?
• Neutral Sentiment: Analyst/industry write‑ups highlight Permian scale, asset sales (CrownRock) and debt reduction as structural positives, but note ROE and valuation could lag — mixed longer‑term implications. Occidental Outperforms Industry in the Past Year: Time to Buy or Wait?
• Negative Sentiment: Earlier in the session OXY pulled back after U.S. political developments — President Trump announced a two‑week suspension of attacks on Iran — which triggered a sharp drop in crude prices and pushed OXY down (~5% intraday). That oil‑price sensitivity remains the primary short‑term risk. Why Occidental Petroleum (OXY) Shares Are Trading Lower Today

About Occidental Petroleum

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.