Occidental Petroleum (NYSE:OXY) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Occidental Petroleum (NYSE:OXY) from a neutral rating to an overweight rating in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have $66.00 target price on the oil and gas producer’s stock, up from their previous target price of $54.00.

A number of other equities research analysts also recently weighed in on OXY. Susquehanna upped their price objective on Occidental Petroleum from $51.00 to $60.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a research report on Tuesday, November 25th. JPMorgan Chase & Co. boosted their price target on Occidental Petroleum from $42.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, February 20th. UBS Group upped their price target on Occidental Petroleum from $49.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group lifted their price objective on Occidental Petroleum from $41.00 to $54.00 and gave the company a “sell” rating in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $53.48.

Occidental Petroleum Price Performance

NYSE:OXY opened at $57.91 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The company has a 50-day moving average of $47.53 and a 200-day moving average of $44.62. Occidental Petroleum has a 52 week low of $34.78 and a 52 week high of $59.15. The company has a market capitalization of $57.11 billion, a price-to-earnings ratio of 35.97 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be given a dividend of $0.26 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio is currently 64.60%.

Insiders Place Their Bets

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the acquisition, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several large investors have recently made changes to their positions in the business. Woodline Partners LP lifted its position in Occidental Petroleum by 40.7% during the 1st 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. Campbell & CO Investment Adviser LLC bought a new stake in Occidental Petroleum during the 2nd quarter worth about $327,000. ProShare Advisors LLC increased its position in Occidental Petroleum by 19.6% in the 2nd quarter. ProShare Advisors LLC now owns 154,080 shares of the oil and gas producer’s stock valued at $6,473,000 after acquiring an additional 25,292 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of Occidental Petroleum in the second quarter worth about $755,000. Finally, National Pension Service lifted its position in shares of Occidental Petroleum by 2.8% during the second quarter. National Pension Service now owns 948,436 shares of the oil and gas producer’s stock worth $39,844,000 after purchasing an additional 25,943 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum News Summary

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

• Positive Sentiment: Piper Sandler upgraded OXY to Overweight and raised its price target to $66, signaling stronger analyst conviction and providing tangible upside from current levels. Positive Report for Occidental Petroleum (OXY) from Piper Sandler
• Positive Sentiment: Coverage and headlines explain a roughly 40% move in OXY YTD — driven by oil?price strength, Permian operational outperformance and visible debt reduction — reinforcing the narrative that fundamentals, not just momentum, are supporting the rally. What’s Behind The 40% Rise In OXY Stock?
• Positive Sentiment: Zacks notes OXY outperformed the energy group (?+27% in a month) and cites rising oil, Permian strength and debt paydown as drivers — a bullish confirmation for investors focused on fundamentals and cash?flow improvement. OXY Outperforms Industry in Past Month: Buy, Hold or Sell the Stock?
• Positive Sentiment: Intraday price jumps and above?average volume coincided with upward earnings?estimate revisions, suggesting analysts are beginning to bake in more upside for OXY. Occidental (OXY) Soars 5.1%: Is Further Upside Left in the Stock?
• Positive Sentiment: Broker activity also includes a Wells Fargo upgrade on the company’s equity warrant vehicle (OXY.WS), a signal that some desks see additional value in Occidental?linked securities. Wells Fargo upgrades Occidental Petroleum Corporation – Equity Warrant (OXY.WS)
• Neutral Sentiment: Sector momentum from rising oil and Middle East supply?concern headlines (tanker attacks, Strait of Hormuz rhetoric) is lifting energy peers broadly, which benefits OXY but also adds geopolitical volatility risk. Occidental Petroleum Stock Surges Thursday: What’s Driving The Action?
• Neutral Sentiment: Goldman assigned a $54 price target (and other outlets list varying targets), showing analyst views still diverge on fair value — useful context for investors deciding entry points or profit?taking. Occidental Petroleum (NYSE:OXY) Given New $54.00 Price Target at The Goldman Sachs Group
• Neutral Sentiment: Occidental disclosed a $1.20B debt tender and covenant changes; this touches capital structure and may reduce near?term leverage risks but invites scrutiny over terms and longer?run funding flexibility. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Some analysts and commentaries warn the oil?led rally may be overextended and that easy gains could be behind the stock, implying higher near?term downside risk if oil or macro sentiment reverses. Occidental Petroleum: Oil Rally Overly Done – Easy Gains Behind Us

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.