Occidental Petroleum (NYSE:OXY) Price Target Raised to $54.00

Occidental Petroleum (NYSE:OXY) had its target price hoisted by The Goldman Sachs Group from $41.00 to $54.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a sell rating on the oil and gas producer’s stock.

OXY has been the topic of several other reports. Wolfe Research dropped their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. Susquehanna boosted their price objective on shares of Occidental Petroleum from $51.00 to $60.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. HSBC increased their target price on shares of Occidental Petroleum from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Piper Sandler lifted their price target on shares of Occidental Petroleum from $47.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Mizuho upped their price objective on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $53.48.

Occidental Petroleum Stock Down 0.9%

Shares of NYSE OXY opened at $57.91 on Wednesday. The business has a 50-day moving average of $47.53 and a two-hundred day moving average of $44.63. 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 has a 1 year low of $34.78 and a 1 year high of $59.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74.

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 analysts’ consensus estimates of $0.18 by $0.13. The business had revenue of $5.11 billion for 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 business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. On average, analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed 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. This represents a $1.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s payout ratio is 64.60%.

Insider Buying and Selling

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the acquisition, the director owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently made changes to their positions in OXY. City Holding Co. raised its stake in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Caitlin John LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter valued at approximately $29,000. Activest Wealth Management grew its stake in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. Binnacle Investments Inc acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $35,000. Finally, Rossby Financial LCC raised its stake in shares of Occidental Petroleum by 155.0% during 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 last quarter. Hedge funds and other institutional investors 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: 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.