Occidental Petroleum (NYSE:OXY) Stock Rating Upgraded by Wall Street Zen

Occidental Petroleum (NYSE:OXY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other analysts also recently weighed in on the stock. Truist Financial reduced their target price on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday. Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Wednesday, July 8th. Stephens reduced their price objective on Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group lifted their price objective on Occidental Petroleum from $47.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Ten research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $64.61.

Occidental Petroleum Stock Performance

Occidental Petroleum stock opened at $55.92 on Friday. Occidental Petroleum has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The stock’s 50 day simple moving average is $54.21 and its two-hundred day simple moving average is $54.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The stock has a market cap of $55.90 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.82 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, analysts expect that Occidental Petroleum will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Occidental Petroleum

In other news, CEO Richard A. Jackson purchased 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This represents a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Wealthfront Advisers LLC increased its holdings in shares of Occidental Petroleum by 37.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 398,176 shares of the oil and gas producer’s stock worth $19,339,000 after purchasing an additional 109,002 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Occidental Petroleum by 22.4% during the second quarter. Meeder Advisory Services Inc. now owns 8,324 shares of the oil and gas producer’s stock valued at $404,000 after purchasing an additional 1,524 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Occidental Petroleum by 43.5% during the second quarter. Citizens Financial Group Inc. RI now owns 23,007 shares of the oil and gas producer’s stock valued at $1,117,000 after purchasing an additional 6,976 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Occidental Petroleum by 73.7% during the second quarter. Pallas Capital Advisors LLC now owns 15,225 shares of the oil and gas producer’s stock valued at $740,000 after buying an additional 6,459 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new stake in shares of Occidental Petroleum during the second quarter valued at $210,000. 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: Q2 earnings significantly exceeded expectations. Adjusted earnings were $2.40 per share versus consensus estimates of roughly $1.83–$1.92, while revenue reached $8.07 billion, well above forecasts. Revenue increased more than 50% year over year. Occidental Q2 Earnings Beat on Oil Prices and Midstream Strength
• Positive Sentiment: Cash flow and leverage improved. OXY generated its strongest quarterly free cash flow since 2022 and reduced principal debt by $1.9 billion to $11.8 billion, its lowest level in seven years. Management also outlined a plan to generate more than $4 billion in annual sustainable cash-flow gains by 2030 through lower costs, reduced capital needs and balance-sheet improvement. Occidental Petroleum Q2 2026 Earnings Call Highlights
• Positive Sentiment: Shareholder returns and analyst sentiment strengthened. Occidental raised its quarterly dividend 7.7% to $0.28 per share. Wells Fargo raised its price target to $79 from $72 and Barclays lifted its target to $75 from $72; both maintain overweight ratings. Analyst price-target updates
• Neutral Sentiment: Operating performance was strong but commodity-sensitive. Global production averaged 1.433 million barrels of oil equivalent per day, above the high end of guidance, while realized crude prices rose sharply. Midstream and marketing income also exceeded guidance, but future results remain exposed to oil-price movements.
• Negative Sentiment: Management expects limited near-term growth. Occidental projects production and capital spending will remain roughly flat in 2027 while it continues prioritizing debt reduction. That discipline supports deleveraging but may reduce expectations for production expansion. Occidental sees flat spending, output in 2027

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.