Occidental Petroleum (NYSE:OXY) Upgraded at Zacks Research

Zacks Research upgraded shares of Occidental Petroleum (NYSE:OXY) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on OXY. Morgan Stanley lifted their price objective on Occidental Petroleum from $53.00 to $73.00 and gave the company an “equal weight” rating in a report on Friday, March 27th. Mizuho raised their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings upgraded shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $66.00 in a research report on Thursday, March 12th. Finally, Wells Fargo & Company raised shares of Occidental Petroleum from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $47.00 to $69.00 in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $58.83.

Occidental Petroleum Price Performance

OXY opened at $62.94 on Tuesday. The stock has a market cap of $62.42 billion, a P/E ratio of 39.09 and a beta of 0.23. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $67.45. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $52.84 and a 200 day simple moving average of $46.10.

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

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be given a $0.26 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Occidental Petroleum’s payout ratio is presently 64.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Woodline Partners LP lifted its position in Occidental Petroleum by 40.7% during the 1st quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after buying an additional 16,506 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Occidental Petroleum by 5.5% in the second quarter. Mackenzie Financial Corp now owns 64,748 shares of the oil and gas producer’s stock valued at $2,720,000 after acquiring an additional 3,372 shares during the last quarter. CW Advisors LLC raised its holdings in Occidental Petroleum by 15.7% during the second quarter. CW Advisors LLC now owns 13,609 shares of the oil and gas producer’s stock worth $572,000 after acquiring an additional 1,851 shares in the last quarter. Baird Financial Group Inc. boosted its position in Occidental Petroleum by 17.8% during the second quarter. Baird Financial Group Inc. now owns 364,802 shares of the oil and gas producer’s stock valued at $15,325,000 after purchasing an additional 55,227 shares during the last quarter. Finally, Annandale Capital LLC grew its stake in Occidental Petroleum by 160.8% in the second quarter. Annandale Capital LLC now owns 40,658 shares of the oil and gas producer’s stock valued at $1,708,000 after purchasing an additional 25,069 shares in the last quarter. 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: Zacks upgraded OXY from “hold” to “strong-buy,” which likely drew fresh buyer interest and helped support the rally. Zacks.com
• Positive Sentiment: Stephens raised its price target on OXY to $74 and kept an “overweight” rating, signaling material upside vs. the recent share price and reinforcing institutional appetite. Stephens Adjusts Price Target on Occidental Petroleum
• Positive Sentiment: Escalating geopolitical tensions pushed crude prices higher and drew flows into high-performing energy names, supporting OXY’s move up today. What’s Going On With Occidental Petroleum Stock Thursday? (Benzinga)
• Neutral Sentiment: Berkshire’s acquisition of OxyChem closes a valuation/strategy chapter for Occidental; proceeds are expected to be used to repair the balance sheet and refocus on core energy operations, a structural positive but already priced in by many investors. Berkshire Adds OxyChem As Valuation Gap And Earnings Outlook Diverge
• Neutral Sentiment: Occidental scheduled its Q1 2026 results for May 5 (conference call May 6); this sets a clear near-term event that could drive volatility depending on production, commodity realizations and balance-sheet commentary. Occidental to Announce First Quarter Results
• Negative Sentiment: Earlier profit-taking and a pullback in crude after signs of de‑escalation in the Iran conflict triggered a sharp short-term sell-off in OXY (reported as a multi-percent drop on one session), showing how oil moves can quickly reverse gains in energy stocks. Occidental Petroleum shares fall as crude oil retreats
• Negative Sentiment: Oil prices fell on April 1 amid hopes the Iran war may end, illustrating the dominant role of macro and geopolitical headlines in driving short-term OXY volatility. Stock Market Today, April 1

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.