Truist Financial Issues Pessimistic Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price decreased by Truist Financial from $65.00 to $57.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price target points to a potential upside of 7.49% from the company’s previous close.

Several other equities analysts have also weighed in on OXY. Capital One Financial cut their target price on Occidental Petroleum from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, April 13th. Piper Sandler raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and raised their price target for the company from $54.00 to $66.00 in a research report on Thursday, March 12th. Citigroup lowered their price target on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. HSBC raised their price target on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Wolfe Research raised their price target on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given 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 stock has a consensus rating of “Hold” and an average price target of $62.43.

Occidental Petroleum Price Performance

NYSE OXY opened at $53.03 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 moving average is $58.02 and its two-hundred day moving average is $48.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 0.74. The firm has a market cap of $52.74 billion, a P/E ratio of 13.36 and a beta of 0.17.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. On average, analysts anticipate that Occidental Petroleum will post 4.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors have recently added to or reduced their stakes in OXY. Woodline Partners LP grew its position in Occidental Petroleum by 40.7% during the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after buying an additional 16,506 shares in the last quarter. Marshall Wace LLP acquired a new stake in Occidental Petroleum during the second quarter valued at approximately $4,584,000. Federated Hermes Inc. boosted its holdings in Occidental Petroleum by 696.7% during the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 20,985 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock valued at $4,443,000 after purchasing an additional 7,285 shares in the last quarter. Finally, AXA S.A. boosted its holdings in Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after purchasing an additional 26,741 shares in the last quarter. 88.70% of the stock is 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’s Q1 2026 update was described as beating guidance in key segments, suggesting underlying operating strength despite broader market caution. Occidental Petroleum (OXY) Beats Guidance in Key Segments during Q1 2026
• Positive Sentiment: Some commentary continues to view Occidental as a value name, with coverage noting it among Buffett-linked stock ideas and highlighting a longer-term deleveraging story. Occidental Earnings: Guidance Revisions Won’t Stop Deleveraging
• Neutral Sentiment: JPMorgan, UBS, and Truist all trimmed price targets on OXY, but kept neutral-to-hold style ratings, which signals reduced enthusiasm rather than a bearish downgrade. JPMorgan cut its target to $63 from $64, UBS to $65 from $67, and Truist to $57 from $65. Truist Financial Corporation price target update
• Neutral Sentiment: Investors are also weighing a leadership transition after CEO Vicki Hollub said she plans to retire, which could mark the start of a new strategic phase for the company. Occidental Petroleum: CEO Change Could Mark The Company’s Next Era
• Negative Sentiment: The lower analyst price targets suggest Wall Street sees less upside near term, reinforcing pressure on the stock even after a solid earnings report. UBS adjusts price target on Occidental Petroleum
• Negative Sentiment: Commentary also pointed to temporary oil tailwinds already being priced in, implying limited near-term re-rating potential for OXY shares. Occidental Petroleum: Temporary Oil Tailwinds Already Baked In, Not A Buy Here

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.