Citigroup Has Lowered Expectations for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price cut by equities research analysts at Citigroup from $67.00 to $62.00 in a research report issued on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup’s price target would indicate a potential upside of 15.21% from the company’s current price.

A number of other brokerages also recently issued reports on OXY. Piper Sandler upgraded 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 note on Thursday, March 12th. JPMorgan Chase & Co. increased their price objective on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Zacks Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Barclays increased their price objective on shares of Occidental Petroleum from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Finally, Argus upgraded shares of Occidental Petroleum to a “hold” rating in a research note on Friday, February 27th. 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. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $61.04.

Occidental Petroleum Trading Down 5.4%

OXY stock opened at $53.81 on Friday. 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’s 50-day simple moving average is $55.82 and its 200 day simple moving average is $47.00. Occidental Petroleum has a 52 week low of $38.36 and a 52 week high of $67.45. The company has a market capitalization of $53.37 billion, a PE ratio of 33.42 and a beta of 0.23.

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. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds have recently made changes to their positions in the stock. Cidel Asset Management Inc. boosted its stake in shares of Occidental Petroleum by 22.7% in the 1st quarter. Cidel Asset Management Inc. now owns 12,671 shares of the oil and gas producer’s stock valued at $824,000 after purchasing an additional 2,340 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of Occidental Petroleum by 95.8% in the 1st quarter. Krilogy Financial LLC now owns 12,503 shares of the oil and gas producer’s stock valued at $813,000 after purchasing an additional 6,119 shares in the last quarter. First City Capital Management Inc. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $218,000. Signal Advisors Wealth LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $348,000. Finally, Athena Wealth Management LLC raised its holdings in Occidental Petroleum by 1.2% in the 1st quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock valued at $1,206,000 after buying an additional 214 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Occidental Petroleum

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

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.