Occidental Petroleum (NYSE:OXY) Given New $57.00 Price Target at Scotiabank

Occidental Petroleum (NYSE:OXY) had its price objective hoisted by Scotiabank from $46.00 to $57.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on OXY. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $53.00 to $73.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. BMO Capital Markets lifted their price target on shares of Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Tuesday, April 7th. Wolfe Research lifted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Argus raised shares of Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. Finally, Stephens boosted their price objective on shares of Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. One investment 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. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $61.83.

Occidental Petroleum Price Performance

NYSE OXY opened at $57.04 on Wednesday. The firm’s fifty day simple moving average is $56.38 and its two-hundred day simple moving average is $47.22. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a 12-month low of $38.72 and a 12-month high of $67.45. The firm has a market capitalization of $56.57 billion, a P/E ratio of 35.43 and a beta of 0.23.

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, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts forecast that Occidental Petroleum will post 4.01 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 10th. Occidental Petroleum’s dividend payout ratio is presently 64.60%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently made changes to their positions in the stock. Lighthouse Investment Partners LLC acquired a new position in Occidental Petroleum during the third quarter valued at $22,345,000. DNB Asset Management AS lifted its position in Occidental Petroleum by 100.3% during the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock valued at $12,654,000 after purchasing an additional 134,128 shares during the period. Swedbank AB acquired a new position in Occidental Petroleum during the third quarter valued at $35,517,000. Mirabella Financial Services LLP lifted its position in Occidental Petroleum by 154.7% during the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after purchasing an additional 17,958 shares during the period. Finally, Gifford Fong Associates lifted its position in Occidental Petroleum by 41.2% during the third quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after purchasing an additional 50,000 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Surging oil prices lifted OXY’s rally earlier this year (big move in March), a primary driver cited by analysts and investors for the stock’s recent strength. Occidental Petroleum Stock Rocketed 38% in 2026 (But the Big Move Came in March)
• Positive Sentiment: Susquehanna raised its price target to $67 and maintained a positive rating, signalling analyst conviction that OXY has further upside versus peers. Susquehanna Adjusts Price Target on Occidental Petroleum to $67 from $60
• Positive Sentiment: Zacks upgraded OXY to a Rank #1 (Strong Buy) and coverage/interest from retail investors has increased, which can fuel momentum in the near term. All You Need to Know About Occidental (OXY) Rating Upgrade to Strong Buy
• Positive Sentiment: Multiple bullish commentary pieces (Seeking Alpha, MarketWatch-style features and sector notes) are promoting a “buy the dip” or long-energy thesis, reinforcing investor demand for OXY shares. Occidental Petroleum – Ignore The Volatility, Buy The Dip
• Positive Sentiment: Macro/sector commentary (e.g., Fundstrat/Tom Lee coverage) highlights continued tailwinds for energy stocks, which supports higher valuations for OXY. Tom Lee Called the Market Bounce With Surgical Precision — These Sectors Have Gas in the Tank
• Neutral Sentiment: Scotiabank raised its target to $57 but kept a “sector perform” rating; the new target essentially matches the current price, so this is a neutral datapoint for further upside. Scotiabank Price Target Raise
• Neutral Sentiment: Increased media attention and “trending stock” coverage (Zacks/Yahoo) is bringing retail eyes to OXY, which can amplify moves but also increase volatility. Occidental Petroleum Corporation (OXY) Is a Trending Stock
• Negative Sentiment: On the fundamentals side, the most recent quarter showed an EPS beat but a revenue miss, and OXY trades at a relatively rich PE vs. history (~35x), which could limit upside if oil prices cool or production/guidance disappoints.

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.