The Goldman Sachs Group Raises Occidental Petroleum (NYSE:OXY) Price Target to $54.00

Occidental Petroleum (NYSE:OXY) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $41.00 to $54.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 7.64% from the company’s current price.

A number of other research firms have also recently commented on OXY. Scotiabank dropped their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday, January 16th. UBS Group upped their price objective on shares of Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings raised shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Argus raised shares of Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $50.00 price target on shares of Occidental Petroleum in a report on Tuesday, November 25th. 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, the company currently has a consensus rating of “Hold” and a consensus target price of $53.48.

Occidental Petroleum Trading Up 5.2%

Shares of OXY stock opened at $58.47 on Wednesday. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $59.15. The stock’s fifty day moving average price is $47.22 and its two-hundred day moving average price is $44.55. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The company has a market cap of $57.67 billion, a PE ratio of 36.32 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.Occidental Petroleum’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 EPS. Equities analysts predict that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larry Mathis Financial Planning LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $223,000. PeakShares LLC bought a new position in shares of Occidental Petroleum during the fourth quarter worth about $178,000. EMC Capital Management acquired a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $94,000. Pure Financial Advisors LLC bought a new stake in Occidental Petroleum in the fourth quarter valued at approximately $233,000. Finally, Targeted Financial Services LLC acquired a new stake in Occidental Petroleum during the 4th quarter valued at approximately $399,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum News Roundup

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.