Occidental Petroleum (NYSE:OXY) Raised to “Strong-Buy” at Zacks Research

Occidental Petroleum (NYSE:OXY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

OXY has been the subject of several other research reports. Jefferies Financial Group increased their target price on Occidental Petroleum from $42.00 to $47.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. The Goldman Sachs Group upped their price target on Occidental Petroleum from $41.00 to $54.00 and gave the stock a “sell” rating in a report on Wednesday, March 11th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $66.00 in a research report on Thursday, March 12th. Bank of America raised their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Finally, BMO Capital Markets upped their target price on shares of Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $58.83.

Occidental Petroleum Stock Performance

Shares of OXY opened at $62.28 on Tuesday. The company has a market capitalization of $61.77 billion, a PE ratio of 38.69 and a beta of 0.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. Occidental Petroleum has a one year low of $34.78 and a one year high of $67.45. The company’s fifty day moving average price is $52.44 and its 200 day moving average price is $45.99.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. The company 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 business’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 earnings per share. As a group, analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after purchasing an additional 699,137 shares during the period. State Street Corp increased its holdings in Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after buying an additional 828,848 shares during the period. Geode Capital Management LLC raised its stake in shares of Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after buying an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Occidental Petroleum by 18.9% during the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after acquiring an additional 1,071,948 shares in the last quarter. 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: Stephens raised its price target to $74 and kept an “overweight” rating — implies roughly ~19% upside from the referenced price and signals stronger institutional conviction from a sell‑side shop. Stephens adjusts price target on Occidental Petroleum to $74
• Positive Sentiment: Zacks Research upgraded OXY from “Hold” to “Strong Buy,” which can attract momentum and retail/institutional interest following the recent rally. Zacks.com
• Positive Sentiment: Berkshire Hathaway completed the acquisition of OxyChem — Occidental will receive proceeds to accelerate balance‑sheet repair and focus on core oil & gas operations, reducing conglomerate complexity and improving leverage metrics. Berkshire Adds OxyChem As Valuation Gap And Earnings Outlook Diverge
• Positive Sentiment: Analysts’ earnings estimates for OXY have been revised up in recent Zacks coverage, supporting a bullish fundamental view after recent share gains. Earnings Estimates Rising for Occidental (OXY)
• Neutral Sentiment: Occidental set its Q1 2026 earnings release for after market close on May 5 and a conference call on May 6 — an obvious near-term catalyst that could swing the stock either way depending on production, commodity realizations and guidance. Occidental to Announce First Quarter Results Tuesday, May 5, 2026
• Neutral Sentiment: Analyses and valuation checks note that OXY has had a strong run (1‑year TSR ~35%) and recent pullbacks can be seen as consolidation — these pieces provide context but not an immediate directional trigger. Occidental Petroleum (OXY) Valuation Check
• Negative Sentiment: Crude oil pulled back on easing geopolitical risk and a reported large U.S. inventory build; that retreat pressured OXY and other oil‑levered names via profit‑taking and lower near‑term commodity realizations. Occidental Petroleum shares fall as crude oil retreats
• Negative Sentiment: Market commentary points to falling oil prices (on hopes of de‑escalation in the Iran conflict) as a headwind for energy stocks overall, increasing downside risk for OXY until oil stabilizes. Stock Market Today, April 1: Markets Rally and Oil Prices Fall

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.