Occidental Petroleum (NYSE:OXY) Price Target Raised to $65.00 at BMO Capital Markets

Occidental Petroleum (NYSE:OXY) had its price target increased by BMO Capital Markets from $60.00 to $65.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. BMO Capital Markets currently has a market perform rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other research reports. Truist Financial initiated coverage on shares of Occidental Petroleum in a research note on Tuesday, March 24th. They set a “hold” rating and a $65.00 target price for the company. JPMorgan Chase & Co. raised shares of Occidental Petroleum from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a research note on Friday, March 20th. Wolfe Research raised their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday. Zacks Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.74.

Occidental Petroleum Stock Down 7.0%

Shares of NYSE:OXY traded down $4.38 during trading on Tuesday, reaching $58.56. 12,287,902 shares of the company traded hands, compared to its average volume of 16,184,905. The firm has a fifty day simple moving average of $53.96 and a 200 day simple moving average of $46.44. The firm has a market cap of $58.08 billion, a P/E ratio of 36.27 and a beta of 0.23. Occidental Petroleum has a 1-year low of $34.78 and a 1-year high of $67.45. 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 issued its 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. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 64.60%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Caitlin John LLC acquired a new position in Occidental Petroleum during the 4th quarter worth $29,000. Activest Wealth Management increased 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 during the period. Rossby Financial LCC increased its holdings in shares of Occidental Petroleum by 155.0% during the 4th 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. increased its holdings in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares during the period. Finally, Binnacle Investments Inc bought a new position in shares of Occidental Petroleum during the 3rd quarter worth about $35,000. 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: Geopolitical risk (Middle East conflict) pushed oil prices sharply higher in March, which helped lift Occidental’s shares by boosting near?term revenue and cash flow expectations for oil producers. Why Occidental Petroleum Rallied in March
• Positive Sentiment: Broad oil rally headlines (reports noting oil has surged ~70% since the Iran conflict began) keep investor focus on large E&Ps like OXY that can leverage higher crude prices and Permian scale. Oil Surged 70% in 26 Trading Days Since the Iran Conflict Began: Top 5 Energy Stocks to Watch
• Positive Sentiment: Multiple outlets (Zacks lists) recently added OXY to momentum/Strong Buy lists, reflecting short?term analyst optimism and potential inflows from momentum?oriented funds. Best Momentum Stocks to Buy for April 7th New Strong Buy Stocks for April 7th
• Positive Sentiment: Analysts point to Occidental’s history of earnings beats and favorable setup (Earnings Surprise Potential), suggesting the company could outpace estimates again — a catalyst for further upside if realized. Why Occidental (OXY) Could Beat Earnings Estimates Again
• Neutral Sentiment: Some commentary asks whether OXY has “run too far” after a large one?year gain (78% rally) and sharp year?to?date outperformance — this frames debate between momentum continuation vs. mean reversion. Has Occidental Petroleum (OXY) Run Too Far After Its 78% One Year Rally?
• Negative Sentiment: Zacks notes that while OXY has outperformed, its valuation appears rich and return on equity lags peers — valuation and fundamentals concerns could pressure the stock if oil prices retreat or growth expectations disappoint. Occidental Outperforms Industry in the Past Year: Time to Buy or Wait?

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.