Wells Fargo & Company Forecasts Strong Price Appreciation for Occidental Petroleum (NYSE:OXY) Stock

Occidental Petroleum (NYSE:OXY) had its price objective upped by equities researchers at Wells Fargo & Company from $40.00 to $47.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 9.38% from the stock’s previous close.

Several other research firms have also issued reports on OXY. Mizuho increased their price target on shares of Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Bank of America upped their price objective on Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Scotiabank reduced their price objective on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Friday, January 16th. HSBC lowered their target price on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, Barclays assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, January 21st. They set an “equal weight” rating on the stock. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $49.05.

Occidental Petroleum Stock Performance

NYSE OXY opened at $51.87 on Friday. The firm has a market capitalization of $51.15 billion, a P/E ratio of 32.22 and a beta of 0.41. The firm’s fifty day moving average price is $43.48 and its two-hundred day moving average price is $43.64. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $52.22. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current year.

Insiders Place Their Bets

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the acquisition, the director 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 this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently bought and sold shares of the business. Carrera Capital Advisors lifted its holdings in Occidental Petroleum by 0.5% during the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 227 shares during the period. Moody National Bank Trust Division raised its stake in shares of Occidental Petroleum by 1.5% during the 3rd quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 229 shares during the period. Summit Securities Group LLC boosted its holdings in shares of Occidental Petroleum by 18.5% in the 4th quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 229 shares during the last quarter. Apella Capital LLC grew its position in Occidental Petroleum by 3.4% during the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 233 shares during the period. Finally, Jamison Private Wealth Management Inc. grew its position in Occidental Petroleum by 1.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Key Stories Impacting Occidental Petroleum

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

• Positive Sentiment: Board raised the quarterly dividend ~8.3% to $0.26/share (ex-div March 10, payable April 15), which supports income-minded investors and helped lift the stock. Dividend Hike Coverage
• Positive Sentiment: Q4 earnings beat consensus (adjusted EPS $0.31 vs. ~ $0.18–$0.19 est.), with production above guidance and operating cash flow strength; management highlighted ~$5.8B of debt reduction since mid-December after the OxyChem sale — a clear de-leveraging catalyst. Reuters: Q4 Results
• Positive Sentiment: Company launched cash tender offers and consent solicitations to repurchase certain senior notes — active liability management that reduces headline leverage risk. Tender Offers Release
• Neutral Sentiment: Management outlined a lower 2026 capex outlook (~$5.7B), implying improved free cash flow if commodity prices cooperate — a potential long-term positive but dependent on oil markets. QuiverQuant: Guidance & Capex
• Neutral Sentiment: Unusual options activity — a large uptick in call buying — signals heightened speculative interest and short‑term bullish positioning but is not a fundamental guarantee. (Market data)
• Negative Sentiment: Revenue and total sales missed expectations (Q4 revenue below consensus) and year-over-year revenue declined, which tempers the EPS beat and points to margin/price headwinds. Zacks: Revenue Miss
• Negative Sentiment: Analyst views remain mixed — some firms raised price targets but several targets and the median remain below current levels, and at least one shop (Wells Fargo) kept an underweight stance despite bumping its target, adding near-term valuation uncertainty. Benzinga: Analyst Notes

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.