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

Occidental Petroleum (NYSE:OXY) had its price objective boosted by Piper Sandler from $47.00 to $54.00 in a report issued on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the company. Barclays raised their price objective on Occidental Petroleum from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings lowered Occidental Petroleum from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 19th. Morgan Stanley decreased their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. 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. Finally, Scotiabank reduced their price objective 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. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $51.24.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $54.28 on Thursday. The company’s 50 day moving average price is $46.06 and its two-hundred day moving average price is $44.25. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $56.34. The firm has a market cap of $53.53 billion, a PE ratio of 33.71 and a beta of 0.34. 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 released its quarterly 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. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts predict that Occidental Petroleum will post 3.58 earnings per share for the current 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 issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio (DPR) is 64.60%.

Insider Activity

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction dated 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 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitlin John LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth about $29,000. Activest Wealth Management grew 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 valued at $31,000 after purchasing an additional 305 shares during the last quarter. Rossby Financial LCC increased its position in 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 in the last quarter. City Holding Co. increased its position 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 worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Binnacle Investments Inc bought a new position in Occidental Petroleum in the 3rd quarter valued at approximately $35,000. 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: Geopolitical risk: Reports of an Iranian tanker strike near Kuwait and broader Middle East conflict concerns are pushing oil prices and lifting shares of oil producers, benefiting OXY. Occidental Petroleum Stock Rises Amid Middle East Conflict Concerns
• Positive Sentiment: Rising oil prices: Recent rallies in crude have been a primary catalyst for OXY’s move higher — energy leverage means rising WTI boosts Occidental’s revenues and margins. Why Occidental Petroleum Stock Rocketed Nearly 17% in February
• Positive Sentiment: Unusual bullish options flow: Traders bought ~120,397 OXY calls (up ~96% vs. average), signaling strong speculative bullish interest and potential further upside pressure on the stock as market participants position for higher oil/stock levels.
• Positive Sentiment: Investor confidence / narrative tailwinds: Coverage highlighting Warren Buffett’s stake and bullish thesis (Occidental’s strategic reset, divestitures, and Berkshire backing) is reinforcing investor demand for OXY as an oil-exposure play. Warren Buffett’s Oil Bet Looks Genius, Here Is What to Buy Next
• Positive Sentiment: Debt management: Occidental announced and updated cash tender offers and consent solicitations for several senior notes and increased the aggregate cap on purchases — moves that reduce outstanding debt and are generally viewed positively by bond and equity investors. Occidental Announces Total Consideration for its Cash Tender Offers…
• Neutral Sentiment: Early tender results / upsized offer: Occidental reported early tender results and increased the maximum aggregate principal amount it will accept — this signals active liability management but uses cash, so the net impact depends on financing and future cash flow. Occidental Announces Early Tender Results and Upsize…
• Neutral Sentiment: Analyst target moves: UBS and Piper Sandler each raised OXY price targets (UBS to $55, Piper Sandler to $54) but maintained neutral ratings — modestly supportive for the stock, though not a full upgrade. Benzinga
• Neutral Sentiment: Sector commentary and attention: MarketBeat, Zacks, and other outlets are spotlighting OXY as a high-conviction energy play amid supply concerns; useful for retail/institutional interest but not an immediate earnings driver. Chaos & Crude: 3 Energy Stocks Built to Thrive…

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.