Occidental Petroleum (NYSE:OXY) Hits New 52-Week High on Analyst Upgrade

Occidental Petroleum Corporation (NYSE:OXY) shares hit a new 52-week high during mid-day trading on Thursday after Piper Sandler upgraded the stock from a neutral rating to an overweight rating. Piper Sandler now has a $66.00 price target on the stock, up from their previous price target of $54.00. Occidental Petroleum traded as high as $57.84 and last traded at $58.2460, with a volume of 9464651 shares changing hands. The stock had previously closed at $55.58.

Other analysts also recently issued research reports about the company. Roth Mkm raised their price objective on Occidental Petroleum from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Bank of America upped their target price on Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. Argus raised Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. Wells Fargo & Company upgraded shares of Occidental Petroleum from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $69.00 in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $53.48.

Insider Activity

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

Occidental Petroleum News Roundup

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

• Positive Sentiment: Supply-risk rally — Multiple reports say OXY moved up after tanker explosions and comments suggesting the Strait of Hormuz could be closed, driving near-term oil-supply fears that boost producers’ near-term outlook. Occidental Petroleum Stock Surges Thursday: What’s Driving The Action?
• Positive Sentiment: Geopolitical headlines and rhetoric — Coverage highlights Iran’s new Supreme Leader and hardline comments that have amplified supply-risk pricing in oil markets, supporting energy names including OXY. Why Occidental Petroleum Rallied Today
• Positive Sentiment: Macro/futures support — Long-dated oil futures rose, and Barron’s notes energy stocks are finally catching up with crude moves, helping lift OXY alongside peers. Energy Stocks Like Occidental Have Lagged Oil Price Hikes. Why They’re Catching Up.
• Positive Sentiment: Analyst upgrade — Piper Sandler upgraded OXY to “overweight” and raised its price target to $66, giving another near-term buy-side catalyst. Piper Sandler Upgrades Occidental Petroleum (OXY) to Overweight
• Neutral Sentiment: Technical milestone — OXY hit a 52-week high intraday, which can attract momentum flows but doesn’t change fundamentals on its own. Occidental Petroleum stock hits 52-week high
• Neutral Sentiment: Street estimates and targets evolving — Coverage notes price-target clustering in the mid-to-high $50s and some bullish forecasts (e.g., $69 this year), reflecting shifting oil assumptions and guidance. Occidental Price Prediction: Wall Street Thinks OXY Goes to $69 This Year
• Neutral Sentiment: Corporate finance item to monitor — Coverage flags Occidental’s recent $1.20B debt tender and covenant changes; investors should watch details and capital-allocation commentary for balance-sheet implications. Should Occidental’s US$1.20 Billion Debt Tender and Covenant Changes Require Action From OXY Investors?
• Negative Sentiment: Conflicting analyst view — Goldman Sachs raised its price target to $54 but kept a “sell” rating, implying downside versus current levels and highlighting divergent Street views. Occidental Petroleum Given New $54.00 Price Target at The Goldman Sachs Group
• Negative Sentiment: Profit-taking/valuation concerns — Some analysts argue the oil rally has priced in easy gains for OXY and that incremental upside may be limited from here. Occidental Petroleum: Oil Rally Overly Done – Easy Gains Behind Us
• Negative Sentiment: Policy risk — President Trump’s comment about tapping the Strategic Petroleum Reserve could ease prices if implemented, which would cap upside for producers including OXY. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OXY. Carrera Capital Advisors grew its stake in shares of Occidental Petroleum by 0.5% in the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 227 shares during the last quarter. Moody National Bank Trust Division raised its position in 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 valued at $735,000 after purchasing an additional 229 shares during the last quarter. Summit Securities Group LLC lifted its holdings in 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 period. Apella Capital LLC lifted its holdings in Occidental Petroleum by 3.4% in the 4th quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock worth $289,000 after buying an additional 233 shares during the period. Finally, Jamison Private Wealth Management Inc. grew its position in shares of Occidental Petroleum by 1.8% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 249 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Up 5.2%

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. The stock has a market capitalization of $57.67 billion, a PE ratio of 36.32 and a beta of 0.34. The company has a 50 day moving average price of $47.22 and a 200-day moving average price of $44.55.

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

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. 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 payout ratio 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.