Occidental Petroleum (NYSE:OXY) Price Target Raised to $72.00

Occidental Petroleum (NYSE:OXY) had its price objective raised by Wells Fargo & Company from $69.00 to $72.00 in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the company. Zacks Research raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. BMO Capital Markets boosted their price target on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised Occidental Petroleum from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research report on Friday, March 20th. Capital One Financial boosted their price target on Occidental Petroleum from $56.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 26th. Finally, UBS Group boosted their price target on Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.87.

Occidental Petroleum Stock Down 0.8%

Shares of NYSE:OXY opened at $58.04 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. Occidental Petroleum has a 1 year low of $35.67 and a 1 year high of $67.45. The stock has a market capitalization of $57.55 billion, a P/E ratio of 36.05 and a beta of 0.23. The stock has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $46.70.

Occidental Petroleum (NYSE:OXY) last issued its earnings results 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. The business 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%.The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 EPS. Equities analysts forecast 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 given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio is currently 64.60%.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares in the last quarter. State Street Corp raised its position in shares of Occidental Petroleum by 2.1% in the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after purchasing an additional 828,848 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Occidental Petroleum by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after purchasing an additional 167,518 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after purchasing an additional 1,071,948 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum News Summary

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

• Positive Sentiment: Announced an oil discovery at the Bandit prospect in the Gulf of America; high-quality, full-to-base oil-bearing sands and potential subsea tieback to nearby facilities could lift long-term production and cash flow. Occidental Announces Gulf of America Oil Discovery at Bandit
• Positive Sentiment: Wells Fargo upgraded OXY to Overweight and raised its price target to $72, signaling bullish analyst sentiment and providing upside case support for the stock. Wells Fargo Double Upgrades Occidental Petroleum (OXY) to Overweight
• Positive Sentiment: Oxy Oman reported ~9% year-over-year growth in hydrocarbon production, reflecting operational strength in a key regional asset that supports near- to mid-term volumes. Oxy Oman posts 9% growth in hydrocarbon production
• Neutral Sentiment: Some outlets/analysts raised price targets (e.g., a $65 target reported), which may shore up base valuation expectations but are mixed in magnitude. Occidental Petroleum (NYSE:OXY) Price Target Raised to $65.00
• Neutral Sentiment: Increased investor attention and search interest in OXY has driven volumes and short-term trading interest — useful for liquidity but can increase volatility. Investors Heavily Search Occidental Petroleum Corporation (OXY)
• Neutral Sentiment: Market commentary notes OXY’s high sensitivity to crude prices — geopolitical moves and commodity swings can create rapid intraday moves. Occidental Petroleum Stock Is Volatile Thursday: What’s Driving The Action?
• Negative Sentiment: Crude prices collapsed after a reported two-week suspension of attacks on Iran, which pressured oil-related equities including OXY and contributed to a recent intraday sell-off. Why Occidental Petroleum (OXY) Shares Are Trading Lower Today
• Negative Sentiment: Recent sessions saw sharp pullbacks (multiple headlines noted a ~5% intraday drop on weak crude), underscoring how macro/oil headlines can quickly erase gains from positive company news. Occidental Petroleum (OXY) Stock Falls Amid Market Uptick

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.