Occidental Petroleum (NYSE:OXY) Rating Increased to Overweight at Piper Sandler

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

Other equities research analysts have also recently issued reports about the company. Wall Street Zen raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Argus raised Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Zacks Research raised Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley dropped their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, TD Cowen increased their price objective on shares of Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.48.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $58.47 on Thursday. The company has a market capitalization of $57.67 billion, a P/E ratio of 36.32 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 firm’s 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $44.55. 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 announced its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts expect that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. 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. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s payout ratio is presently 64.60%.

Insider Activity

In related news, Director William R. Klesse acquired 5,000 shares of the 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 purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after purchasing an additional 8,273,030 shares during the period. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 22.0% in the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after purchasing an additional 3,267,269 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after purchasing an additional 1,883,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Occidental Petroleum by 54.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after buying an additional 1,393,638 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after buying an additional 1,361,541 shares during the last quarter. 88.70% of the stock is 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: Supply-risk rally — Multiple reports say OXY moved up after tanker explosions and comments suggesting the Strait of Hormuz could be closed, driving near-term oil-supply fears that boost producers’ near-term outlook. Occidental Petroleum Stock Surges Thursday: What’s Driving The Action?
• Positive Sentiment: Geopolitical headlines and rhetoric — Coverage highlights Iran’s new Supreme Leader and hardline comments that have amplified supply-risk pricing in oil markets, supporting energy names including OXY. Why Occidental Petroleum Rallied Today
• Positive Sentiment: Macro/futures support — Long-dated oil futures rose, and Barron’s notes energy stocks are finally catching up with crude moves, helping lift OXY alongside peers. Energy Stocks Like Occidental Have Lagged Oil Price Hikes. Why They’re Catching Up.
• Positive Sentiment: Analyst upgrade — Piper Sandler upgraded OXY to “overweight” and raised its price target to $66, giving another near-term buy-side catalyst. Piper Sandler Upgrades Occidental Petroleum (OXY) to Overweight
• Neutral Sentiment: Technical milestone — OXY hit a 52-week high intraday, which can attract momentum flows but doesn’t change fundamentals on its own. Occidental Petroleum stock hits 52-week high
• Neutral Sentiment: Street estimates and targets evolving — Coverage notes price-target clustering in the mid-to-high $50s and some bullish forecasts (e.g., $69 this year), reflecting shifting oil assumptions and guidance. Occidental Price Prediction: Wall Street Thinks OXY Goes to $69 This Year
• Neutral Sentiment: Corporate finance item to monitor — Coverage flags Occidental’s recent $1.20B debt tender and covenant changes; investors should watch details and capital-allocation commentary for balance-sheet implications. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Conflicting analyst view — Goldman Sachs raised its price target to $54 but kept a “sell” rating, implying downside versus current levels and highlighting divergent Street views. Occidental Petroleum Given New $54.00 Price Target at The Goldman Sachs Group
• Negative Sentiment: Profit-taking/valuation concerns — Some analysts argue the oil rally has priced in easy gains for OXY and that incremental upside may be limited from here. Occidental Petroleum: Oil Rally Overly Done – Easy Gains Behind Us
• Negative Sentiment: Policy risk — President Trump’s comment about tapping the Strategic Petroleum Reserve could ease prices if implemented, which would cap upside for producers including OXY. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs

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.