Barclays Issues Positive Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Key Points

• Barclays raised its price target for Occidental Petroleum to $75 from $72 and maintained an “overweight” rating, implying roughly 32.7% upside from the reported share price of $56.51.
• Occidental reported strong quarterly results, with EPS of $2.40 versus the $1.83 consensus estimate and revenue of $8.06 billion versus $7.07 billion expected; revenue rose 53.4% year over year.
• Despite the bullish Barclays outlook, analysts overall remain cautious: OXY has an average “Hold” rating and a consensus price target of $64.30, while future results remain sensitive to oil-price volatility and geopolitical developments.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price lifted by analysts at Barclays from $72.00 to $75.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas producer's stock. Barclays's price objective would indicate a potential upside of 32.72% from the company's current price.

OXY has been the topic of several other research reports. Stephens lowered their price objective on shares of Occidental Petroleum from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. JPMorgan Chase & Co. reduced their price target on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Jefferies Financial Group raised their price target on shares of Occidental Petroleum from $47.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, April 13th. Roth Capital boosted their price objective on shares of Occidental Petroleum from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $64.30.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock traded up $2.70 during trading on Thursday, reaching $56.51. The company's stock had a trading volume of 6,411,244 shares, compared to its average volume of 13,252,887. Occidental Petroleum has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. The firm has a market cap of $56.21 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.81 and a beta of 0.15. The business's fifty day moving average price is $54.25 and its 200-day moving average price is $54.29.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company's revenue was up 53.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. As a group, equities research analysts predict that Occidental Petroleum will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Richard A. Jackson acquired 4,770 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $52.38 per share, with a total value of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company's stock, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.50% of the company's stock.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 valued at $3,696,716,000 after acquiring an additional 699,137 shares during the period. State Street Corp boosted its position 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 buying an additional 828,848 shares in the last quarter. Geode Capital Management LLC grew its stake in Occidental Petroleum by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer's stock worth $771,949,000 after buying an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock worth $436,008,000 after buying an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer's stock worth $276,772,000 after buying an additional 1,071,948 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum News Summary

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

• Positive Sentiment: Occidental reported second-quarter 2026 adjusted earnings of $2.40 per share, well above analyst expectations of approximately $1.83–$1.92 and up from $0.39 a year earlier. Revenue reached about $8.07 billion, exceeding the roughly $7.07 billion consensus estimate and increasing more than 50% year over year. Occidental Petroleum Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Profit growth was supported by higher realized crude oil prices, while Occidental’s midstream and marketing operations returned to profitability. The results indicate strong operating leverage when commodity prices are favorable. Occidental Profit Jumps on Higher Oil Prices and Midstream Gains
• Positive Sentiment: Before the release, analysts expected growth to be supported by debt reduction and cash flow generation. The substantial earnings and revenue beats improve the near-term fundamental outlook, although management’s conference call may provide additional guidance. Occidental Petroleum Set to Report Q2 Earnings
• Neutral Sentiment: Occidental formally released its second-quarter results after the market close and scheduled a conference call for August 6. Investors may focus on production trends, capital spending, debt reduction and the outlook for commodity prices. Occidental Announces Second Quarter 2026 Results
• Negative Sentiment: Oil prices were reportedly under pressure amid U.S.-Iran peace talks. Lower crude prices could reduce Occidental’s realized prices, cash flow and earnings in future quarters, making the stock sensitive to geopolitical developments and commodity volatility. Occidental Petroleum in Focus as Oil Slides on U.S.-Iran Peace Talks
• Negative Sentiment: Analysts had cautioned that OXY’s valuation appeared relatively full despite debt cuts and improved cash flow. Consequently, investors may be taking profits or demanding stronger forward guidance even after the sizable quarterly beat.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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