Occidental Petroleum (NYSE:OXY – Get Free Report) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $63.00 price objective on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.64% from the stock’s current price.
Several other research analysts have also recently weighed in on OXY. Wall Street Zen upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays boosted their target price on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Argus raised shares of Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. UBS Group lifted their price objective on shares of Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Wolfe Research cut their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.14.
Occidental Petroleum Trading Up 2.0%
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $5.11 billion for 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 quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities research analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current year.
Institutional Trading of Occidental Petroleum
Hedge funds have recently added to or reduced their stakes in the stock. Lane Brothers & Co. Inc. acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $273,000. Larry Mathis Financial Planning LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter valued at $223,000. PeakShares LLC bought a new stake in Occidental Petroleum during the 4th quarter worth $178,000. EMC Capital Management acquired a new position in Occidental Petroleum in the 4th quarter worth about $94,000. Finally, Pure Financial Advisors LLC bought a new position in Occidental Petroleum in the fourth quarter valued at about $233,000. 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: Stock hit a 52‑week high, reflecting strong investor interest and momentum following recent analyst action and oil price strength. Occidental Petroleum stock hits 52-week high at 60.75 USD
- Positive Sentiment: Multiple brokerages raised ratings/targets this morning — HSBC to a Buy with a $68 PT and Mizuho boosting its target to $72 — and JPMorgan upgraded OXY from Underweight to Neutral (PT $63). Those calls give the stock near‑term support from institutional investors. HSBC price target raise / Benzinga Mizuho Raises Occidental Price Target to $72.00 JPMorgan upgrade / TickerReport
- Positive Sentiment: Oil price strength and active balance‑sheet moves are lifting sentiment — crude spikes help E&P multiples, while Occidental’s cash tender offers and recent asset sale (OxyChem) support a deleveraging narrative. Occidental Petroleum gains as oil prices spike and debt buyback stays in focus
- Neutral Sentiment: Recent earnings: OXY beat EPS expectations last quarter but revenue came in below estimates — a mixed fundamental print that makes the stock sensitive to forward guidance and oil prices (investors are watching whether the post‑earnings rally can continue). Occidental (OXY) Up 15.6% Since Last Earnings Report
- Neutral Sentiment: General market interest/trending coverage is increasing (investor attention can amplify moves but doesn’t guarantee direction). Is Trending Stock Occidental Petroleum Corporation (OXY) a Buy Now?
- Negative Sentiment: Operational risk from Middle East disruptions: reports say the Shah gas field and Fujairah crude loadings have been affected, which could dent near‑term production and export revenue if outages persist. This is the main tangible downside risk to the recent rally. Occidental Faces New Middle East Disruptions
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.
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