Occidental Petroleum (NYSE:OXY) Price Target Raised to $70.00

Occidental Petroleum (NYSE:OXY) had its price objective boosted by Wolfe Research from $67.00 to $70.00 in a research note issued to investors on Monday,MarketScreener reports. They currently have an outperform rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other research reports. Weiss Ratings raised shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Mizuho raised their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Morgan Stanley lifted their price target on 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 upped their price objective on Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Finally, HSBC upped their price objective on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, March 20th. One research 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.74.

Occidental Petroleum Stock Down 5.0%

OXY stock opened at $59.78 on Monday. The company has a market cap of $59.28 billion, a price-to-earnings ratio of 37.13 and a beta of 0.23. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $67.45. The business has a 50 day moving average price of $54.26 and a two-hundred day moving average price of $46.53. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.18 by $0.13. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.26 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Occidental Petroleum’s payout ratio is 64.60%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new position in Occidental Petroleum in the 4th quarter valued at $29,000. Activest Wealth Management grew its holdings in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 305 shares in the last quarter. Rossby Financial LCC increased its position in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the period. City Holding Co. raised its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new position in Occidental Petroleum in the third quarter valued at about $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: BMO Capital Markets raised its price target on OXY to $65 (from $60) and kept a “market perform” rating — a signal of modest analyst support and a potential near‑term valuation cushion. MarketScreener
• Positive Sentiment: OXY has benefited from the recent surge in oil prices tied to the Middle East conflict and broader sector momentum (including coverage highlighting OXY as a momentum pick), which boosts near‑term cash flow and deleveraging prospects. Oil Surge / Top Energy Stocks
• Neutral Sentiment: Market commentary is questioning whether OXY’s strong run (large YTD and 1‑year gains) leaves less upside and increases the risk of short‑term consolidation; useful for timing but not a firm sell signal. Has OXY Run Too Far?
• Neutral Sentiment: Analyst and momentum lists (Zacks, Motley Fool coverage) keep OXY on buy/momentum radars — this sustains investor interest but can increase volatility around headlines. Zacks Momentum List
• Negative Sentiment: News of a US‑Iran two‑week ceasefire has eased some oil‑risk premiums; energy names including OXY slid as markets rallied more broadly, prompting short‑term profit‑taking. Investopedia — Ceasefire Impact
• Negative Sentiment: Fundamental questions remain: recent quarterly results showed an EPS beat but a revenue shortfall year‑over‑year and analysts note valuation and ROE lag — factors that could pressure the stock if oil prices retreat. Zacks — Valuation / ROE Concerns

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.