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

Occidental Petroleum (NYSE:OXY) had its price target lifted by Susquehanna from $67.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a positive rating on the oil and gas producer’s stock.

OXY has been the topic of several other research reports. Truist Financial increased their price target on shares of Occidental Petroleum from $57.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday. Citigroup cut their target price on shares of Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Wells Fargo & Company increased their target price on shares of Occidental Petroleum from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Barclays raised their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.00.

Occidental Petroleum Trading Down 1.2%

Shares of NYSE OXY opened at $57.84 on Tuesday. Occidental Petroleum has a twelve month low of $38.80 and a twelve month high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $54.16 and a 200-day simple moving average of $54.91. The stock has a market capitalization of $57.81 billion, a PE ratio of 8.95, a PEG ratio of 0.80 and a beta of 0.15.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the company earned $0.39 EPS. Occidental Petroleum’s revenue was up 53.4% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum will post 5.74 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 10th. Occidental Petroleum’s payout ratio is currently 16.10%.

Insiders Place Their Bets

In related news, CEO Richard A. Jackson bought 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the purchase, the chief executive officer owned 444,098 shares of the company’s stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently made changes to their positions in the stock. Axiom Investment Management LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at about $25,000. GKV Capital Management Co. Inc. purchased a new stake in Occidental Petroleum in the 1st quarter valued at approximately $26,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 1st quarter valued at $29,000. Hara Capital LLC purchased a new position in Occidental Petroleum during the second quarter worth $25,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth about $39,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum News Summary

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

• Positive Sentiment: Higher oil prices provide a potential tailwind. Articles highlighted rising crude prices amid tensions involving the Middle East and the Strait of Hormuz. Any sustained supply-disruption risk could increase oil prices and improve Occidental’s upstream revenue and cash flow. Occidental draws attention as crude rises
• Positive Sentiment: Susquehanna raised its price target to $70. The higher target signals expected appreciation from recent trading levels and adds to the bullish case for OXY. Susquehanna raises Occidental price target
• Positive Sentiment: Analysts pointed to improving fundamentals and long-term cash-flow potential. Occidental’s second-quarter results significantly exceeded earnings and revenue expectations, while management has outlined a goal of $4 billion in sustainable annual cash flow by 2030. Supporters argue that debt reduction, operational improvements and stronger cash generation remain underappreciated. Occidental Q2 2026 earnings call transcript Occidental fundamentals remain underappreciated
• Neutral Sentiment: Analyst opinion remains mixed. Truist maintained a Hold rating, even as another report described the firm as capable of strong appreciation. This divergence may encourage investors to wait for clearer evidence of sustained earnings and cash-flow growth. Truist maintains Hold rating
• Negative Sentiment: Geopolitical support for oil prices is uncertain. Hormuz and Middle East tensions could boost crude prices, but any de-escalation would remove that premium. Investors are also weighing whether OXY’s recent rally has already priced in much of its operational improvement and commodity upside.

About Occidental Petroleum

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.