Occidental Petroleum (NYSE:OXY) Price Target Raised to $72.00 at Wells Fargo & Company

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

A number of other research analysts have also commented on the stock. Morgan Stanley upped their price target on shares of Occidental Petroleum from $53.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Weiss Ratings upgraded Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. JPMorgan Chase & Co. raised Occidental Petroleum from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a research report on Friday, March 20th. Bank of America boosted their target price on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Finally, Wolfe Research raised 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.87.

Occidental Petroleum Stock Down 0.1%

OXY stock opened at $59.70 on Thursday. Occidental Petroleum has a 1-year low of $35.67 and a 1-year high of $67.45. The business’s 50 day simple moving average is $54.26 and its 200 day simple moving average is $46.53. 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 firm has a market capitalization of $59.21 billion, a PE ratio of 37.11 and a beta of 0.23.

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

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after acquiring an additional 699,137 shares during the period. State Street Corp increased its stake in Occidental Petroleum by 2.1% in the fourth 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 acquiring an additional 828,848 shares during the last quarter. Geode Capital Management LLC raised its position in Occidental Petroleum by 0.9% during the fourth 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 purchasing an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. lifted 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 purchasing an additional 1,071,948 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum News Summary

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

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.