Occidental Petroleum (NYSE:OXY) Price Target Raised to $55.00

Occidental Petroleum (NYSE:OXY) had its target price hoisted by UBS Group from $49.00 to $55.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other analysts have also issued reports about the company. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target on shares of Occidental Petroleum in a report on Tuesday, November 25th. HSBC lifted their target price on Occidental Petroleum from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Mizuho raised their price target on shares of Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Scotiabank cut their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Finally, Piper Sandler lifted their price target on shares of Occidental Petroleum from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.24.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $54.28 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 52 week low of $34.78 and a 52 week high of $56.34. The company’s 50 day moving average price is $46.06 and its two-hundred day moving average price is $44.25. The company has a market capitalization of $53.53 billion, a P/E ratio of 33.71 and a beta of 0.34.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

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

Insider Activity at Occidental Petroleum

In related news, Director William R. Klesse purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Occidental Petroleum by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after buying an additional 699,137 shares in the last quarter. State Street Corp boosted its holdings in Occidental Petroleum by 2.1% in the fourth 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 acquiring an additional 828,848 shares during the last quarter. Geode Capital Management LLC increased its position in Occidental Petroleum by 0.9% during 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 during the period. Dimensional Fund Advisors LP lifted 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 worth $436,008,000 after purchasing an additional 1,883,721 shares during the period. Finally, Invesco Ltd. increased its stake 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 acquiring an additional 1,071,948 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Key Occidental Petroleum News

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

• Positive Sentiment: Geopolitical risk: Reports of an Iranian tanker strike near Kuwait and broader Middle East conflict concerns are pushing oil prices and lifting shares of oil producers, benefiting OXY. Occidental Petroleum Stock Rises Amid Middle East Conflict Concerns
• Positive Sentiment: Rising oil prices: Recent rallies in crude have been a primary catalyst for OXY’s move higher — energy leverage means rising WTI boosts Occidental’s revenues and margins. Why Occidental Petroleum Stock Rocketed Nearly 17% in February
• Positive Sentiment: Unusual bullish options flow: Traders bought ~120,397 OXY calls (up ~96% vs. average), signaling strong speculative bullish interest and potential further upside pressure on the stock as market participants position for higher oil/stock levels.
• Positive Sentiment: Investor confidence / narrative tailwinds: Coverage highlighting Warren Buffett’s stake and bullish thesis (Occidental’s strategic reset, divestitures, and Berkshire backing) is reinforcing investor demand for OXY as an oil-exposure play. Warren Buffett’s Oil Bet Looks Genius, Here Is What to Buy Next
• Positive Sentiment: Debt management: Occidental announced and updated cash tender offers and consent solicitations for several senior notes and increased the aggregate cap on purchases — moves that reduce outstanding debt and are generally viewed positively by bond and equity investors. Occidental Announces Total Consideration for its Cash Tender Offers…
• Neutral Sentiment: Early tender results / upsized offer: Occidental reported early tender results and increased the maximum aggregate principal amount it will accept — this signals active liability management but uses cash, so the net impact depends on financing and future cash flow. Occidental Announces Early Tender Results and Upsize…
• Neutral Sentiment: Analyst target moves: UBS and Piper Sandler each raised OXY price targets (UBS to $55, Piper Sandler to $54) but maintained neutral ratings — modestly supportive for the stock, though not a full upgrade. Benzinga
• Neutral Sentiment: Sector commentary and attention: MarketBeat, Zacks, and other outlets are spotlighting OXY as a high-conviction energy play amid supply concerns; useful for retail/institutional interest but not an immediate earnings driver. Chaos & Crude: 3 Energy Stocks Built to Thrive…

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.