The Goldman Sachs Group Issues Positive Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Key Points

• Goldman Sachs raised its Occidental Petroleum price target from $69 to $76 and maintained a “buy” rating, implying approximately 20.8% upside from the reported $62.90 share price.
• Analyst sentiment is mixed: 12 analysts rate OXY a Buy and 15 rate it a Hold, producing an overall “Hold” consensus and an average price target of $67.88.
• Occidental’s latest quarterly results exceeded expectations, with EPS of $2.40 versus the $1.83 consensus and revenue of $8.06 billion; revenue increased 53.4% year over year.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $69.00 to $76.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas producer's stock. The Goldman Sachs Group's price target indicates a potential upside of 20.83% from the stock's current price.

A number of other research firms have also recently commented on OXY. Evercore upgraded shares of Occidental Petroleum from an "in-line" rating to an "outperform" rating and set a $65.00 target price on the stock in a research note on Wednesday, July 8th. Weiss Ratings upgraded Occidental Petroleum from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, October 13th. Seaport Research Partners began coverage on shares of Occidental Petroleum in a research report on Thursday, September 3rd. They set a "buy" rating and a $73.00 target price on the stock. BMO Capital Markets restated a "market perform" rating and set a $68.00 price target on shares of Occidental Petroleum in a research note on Wednesday, October 14th. Finally, Stifel Nicolaus initiated coverage on Occidental Petroleum in a research note on Thursday, September 10th. They issued a "hold" rating and a $68.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $67.88.

Occidental Petroleum Stock Down 1.8%

Shares of OXY traded down $1.17 on Tuesday, reaching $62.90. The stock had a trading volume of 3,168,678 shares, compared to its average volume of 11,941,125. The company has a 50-day simple moving average of $59.83 and a 200-day simple moving average of $55.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. The firm has a market capitalization of $62.88 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 0.74 and a beta of 0.24. Occidental Petroleum has a 12-month low of $38.80 and a 12-month high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. Occidental Petroleum's quarterly revenue was up 53.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Sell-side analysts predict that Occidental Petroleum will post 6.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Axiom Investment Management LLC acquired a new position in Occidental Petroleum in the first quarter valued at $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum in the first quarter valued at about $26,000. Hara Capital LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at about $25,000. Ballast Advisors LLC purchased a new position in Occidental Petroleum during the first quarter worth $39,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $31,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum News Summary

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

• Positive Sentiment: Analysts are expecting triple-digit year-over-year earnings-per-share growth when Occidental reports third-quarter 2026 results next month. Strong anticipated earnings growth could improve sentiment ahead of the report. What to Expect From Occidental Petroleum’s Q3 2026 Earnings Report
• Positive Sentiment: Occidental declared a regular quarterly dividend of $0.28 per share, payable January 15, 2027, to shareholders of record on December 10. The dividend represents an annualized payout of $1.12 and a yield of approximately 1.7%, reinforcing the company’s shareholder-return profile. Occidental Announces Dividend
• Positive Sentiment: Piper Sandler initiated coverage with a “neutral” rating but assigned a $94 price target, substantially above the stock’s recent trading level. The target suggests analysts see meaningful valuation upside, despite the cautious rating. Piper Sandler Stock Recommendations
• Neutral Sentiment: Market coverage is focusing on the factors that could drive OXY’s next major move, including oil-market conditions and upcoming company results. What Could Shape Occidental Petroleum’s Next Major Move?
• Negative Sentiment: Occidental traded lower alongside a broader energy-sector decline in premarket activity, indicating that industry-wide weakness—not just company-specific news—is weighing on the stock. Occidental Petroleum Stock: Energy Group Falls Premarket

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company's OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.

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