Occidental Petroleum (NYSE:OXY) Stock Gets Price Target Bump from The Goldman Sachs Group

Occidental Petroleum (NYSE:OXY) had its target price hoisted by analysts at The Goldman Sachs Group from $69.00 to $76.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group‘s price objective suggests a potential upside of 20.83% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Seaport Research Partners began coverage on Occidental Petroleum in a research note on Thursday, September 3rd. They set a “buy” rating and a $73.00 target price on the stock. Wells Fargo & Company upped their price target on Occidental Petroleum from $79.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, September 14th. Citigroup decreased their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Roth Capital raised Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, October 16th. Finally, Truist Financial boosted their price target on Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, October 15th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.88.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded down $1.17 during trading on Tuesday, reaching $62.90. 3,168,678 shares of the company’s stock traded hands, compared to its average volume of 11,941,125. The stock has a market capitalization of $62.88 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.74 and a beta of 0.24. The company has a 50 day moving average of $59.83 and a 200-day moving average of $55.39. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.

Occidental Petroleum (NYSE:OXY) last announced its quarterly 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. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The business had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the business posted $0.39 EPS. The business’s revenue was up 53.4% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum will post 6.84 EPS for the current year.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently made changes to their positions in the business. Berkshire Hathaway Inc bought a new stake in Occidental Petroleum in the second quarter valued at $12,868,205,000. Engineers Gate Manager LP increased its holdings in shares of Occidental Petroleum by 1,329.2% in the second quarter. Engineers Gate Manager LP now owns 59,725 shares of the oil and gas producer’s stock valued at $2,901,000 after purchasing an additional 55,546 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Occidental Petroleum during the second quarter worth $10,041,000. Swiss National Bank lifted its position in Occidental Petroleum by 7.2% during the 1st quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock valued at $140,947,000 after purchasing an additional 145,100 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Occidental Petroleum by 4.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,685,169 shares of the oil and gas producer’s stock valued at $109,536,000 after acquiring an additional 66,438 shares during 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: Analysts are expecting triple-digit year-over-year earnings-per-share growth when Occidental reports third-quarter 2026 results next month. Strong anticipated earnings growth could improve sentiment ahead of the report. What to Expect From Occidental Petroleum’s Q3 2026 Earnings Report
• Positive Sentiment: Occidental declared a regular quarterly dividend of $0.28 per share, payable January 15, 2027, to shareholders of record on December 10. The dividend represents an annualized payout of $1.12 and a yield of approximately 1.7%, reinforcing the company’s shareholder-return profile. Occidental Announces Dividend
• Positive Sentiment: Piper Sandler initiated coverage with a “neutral” rating but assigned a $94 price target, substantially above the stock’s recent trading level. The target suggests analysts see meaningful valuation upside, despite the cautious rating. Piper Sandler Stock Recommendations
• Neutral Sentiment: Market coverage is focusing on the factors that could drive OXY’s next major move, including oil-market conditions and upcoming company results. What Could Shape Occidental Petroleum’s Next Major Move?
• Negative Sentiment: Occidental traded lower alongside a broader energy-sector decline in premarket activity, indicating that industry-wide weakness—not just company-specific news—is weighing on the stock. Occidental Petroleum Stock: Energy Group Falls Premarket

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.