Occidental Petroleum (NYSE:OXY) Given New $47.00 Price Target at Wells Fargo & Company

Occidental Petroleum (NYSE:OXY) had its target price upped by investment analysts at Wells Fargo & Company from $40.00 to $47.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 8.05% from the company’s previous close.

Several other brokerages have also recently weighed in on OXY. Bank of America boosted their price target on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Scotiabank reduced their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Occidental Petroleum in a research report on Tuesday, November 25th. Finally, Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.52.

Occidental Petroleum Price Performance

OXY stock traded down $0.42 during mid-day trading on Friday, reaching $51.11. The company’s stock had a trading volume of 9,065,752 shares, compared to its average volume of 12,301,863. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $43.26 and its two-hundred day moving average is $43.57. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $52.22. The stock has a market cap of $50.36 billion, a PE ratio of 31.78 and a beta of 0.41.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.95% and a net margin of 9.14%.The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum will post 3.58 EPS for the current year.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Occidental Petroleum by 10.3% in the second quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock valued at $3,718,054,000 after acquiring an additional 8,273,030 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after purchasing an additional 3,267,269 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Occidental Petroleum by 54.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after purchasing an additional 1,393,638 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after purchasing an additional 1,361,541 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Q4 earnings beat and production strength — OXY reported adjusted Q4 EPS above consensus and production that topped guidance, which traders interpreted as operational resilience despite weaker commodity prices. Occidental tops quarterly profit estimates on midstream support
• Positive Sentiment: Dividend increase — The board approved an ~8% quarterly dividend raise to $0.26, a shareholder?friendly move that supported the rally. Occidental Climbs 9% on Dividend Hike
• Positive Sentiment: Balance-sheet progress — Management highlighted ~$5.8 billion of debt reduction since mid-December (helped by the OxyChem sale to Berkshire), improving leverage and supporting multiple expansion hopes. Occidental Refocuses After OxyChem Sale
• Positive Sentiment: Debt tender offers / consent solicitation — Occidental launched cash tender offers for certain senior notes, an active step to reshape the debt profile that investors view as constructive for credit risk and future cash flow. Occidental Announces Cash Tender Offers
• Positive Sentiment: Analyst upgrade / higher target — Susquehanna raised its price target (to $60) and refreshed a positive view, providing an analyst-driven upside case that likely contributed to buying. Analyst Price Target Raise (Benzinga)
• Neutral Sentiment: Lower 2026 capex / FCF-friendly guidance — Management signalled reduced 2026 spending versus prior expectations, implying higher free-cash-flow potential if commodity prices cooperate; this is supportive but commodity-dependent. Q4 beat and 2026 spending outlook (QuiverQuant)
• Neutral Sentiment: Unusual options activity — Elevated call buying (large open interest in short period) suggests speculative bullish positioning that can amplify moves both up and down. Options Flow Note (Benzinga)
• Negative Sentiment: Revenue miss and weaker cash metrics — While EPS beat, revenue and some cash?flow metrics were below street expectations and several line items are down year-over-year, giving cautious investors pause. Q4: Earnings beat, revenues miss (Zacks)
• Negative Sentiment: Mixed analyst views & valuation skepticism — Some commentators (and at least one Seeking Alpha columnist) remain on the sidelines, saying they need a clearer catalyst for multiple expansion; the analyst consensus still includes lower targets, so upside isn’t unanimous. Impressive Q4 earnings fail to convince (Seeking Alpha)

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.