Occidental Petroleum (NYSE:OXY) Shares Gap Down Following Analyst Downgrade

Occidental Petroleum Corporation (NYSE:OXY) gapped down before the market opened on Friday after Citigroup lowered their price target on the stock from $67.00 to $62.00. The stock had previously closed at $56.87, but opened at $53.66. Citigroup currently has a neutral rating on the stock. Occidental Petroleum shares last traded at $52.7170, with a volume of 4,073,835 shares.

A number of other analysts have also recently weighed in on OXY. Weiss Ratings raised shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group boosted their target price on shares of Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Morgan Stanley lifted their price target on Occidental Petroleum from $53.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Finally, Zacks Research raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.04.

Occidental Petroleum News Summary

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

• Positive Sentiment: U.S. officials pressed oil companies to ramp up drilling to stabilize supplies, and Benzinga notes OXY’s momentum score surged — a near-term catalyst that supported the stock earlier this week. Occidental Petroleum Stock’s Momentum Score Triples As US To Urge Oil Executives To Ramp Up Drilling In Bid To Stabilize Prices
• Positive Sentiment: Longer-term bullish coverage highlights OXY’s strong 2026 performance and its ties to Berkshire Hathaway, which supports investor confidence despite volatility. Occidental Petroleum Is Crushing the Market in 2026. Is It the Smartest Buy Right Now?
• Neutral Sentiment: Value-focused write-ups (Zacks/Yahoo) argue OXY may be undervalued — a thematic support for investors but not an immediate catalyst. Are Investors Undervaluing Occidental Petroleum (OXY) Right Now?
• Neutral Sentiment: Earnings preview: analysts expect a double-digit profit decline next quarter, which sets a cautious near-term outlook ahead of OXY’s report. Earnings Preview: What to Expect From Occidental Petroleum’s Report
• Negative Sentiment: News of a potential ceasefire and Iran saying the Strait of Hormuz would remain open reduced geopolitical risk, sending oil prices — and OXY shares — lower today. Why Occidental Petroleum Plunged Today
• Negative Sentiment: Benzinga reports Iran’s comments specifically eased tanker-route concerns, pressuring oil and energy stocks this session. Why Occidental Petroleum Stock Is Under Pressure Friday Afternoon
• Negative Sentiment: Analyst moves: Citigroup trimmed its price target to $62 and put a neutral rating on OXY; other downgrades and a reported ~4% dip on an analyst downgrade added selling pressure. Citigroup Adjusts Price Target on Occidental Petroleum to $62 from $67; Maintains Neutral Rating

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitlin John LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $29,000. Activest Wealth Management increased its stake in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC increased its stake in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 465 shares during the period. City Holding Co. boosted its stake in shares of Occidental Petroleum by 250.0% in the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. Finally, Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Stock Performance

The stock’s 50 day moving average price is $55.82 and its 200 day moving average price is $47.00. 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 capitalization of $53.37 billion, a P/E ratio of 33.42 and a beta of 0.23.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating 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 company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm posted $0.80 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio (DPR) is presently 64.60%.

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.