BMO Capital Markets Issues Positive Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Key Points

• BMO Capital Markets raised its target price on Occidental Petroleum to $65 from $60 while keeping a "market perform" rating, implying roughly a 12.9% upside from the prior close.
• Several other firms also lifted targets (e.g., Citigroup $67, Wells Fargo $69), but the sell‑side consensus remains a "Hold" with an average target near $59.74.
• Occidental beat Q4 EPS estimates ($0.31 vs. $0.18) but missed revenue expectations; the stock trades around $57.56 with a 52‑week range of $34.78–$67.45 and about 88.7% institutional ownership.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price hoisted by investment analysts at BMO Capital Markets from $60.00 to $65.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a "market perform" rating on the oil and gas producer's stock. BMO Capital Markets' target price would suggest a potential upside of 12.93% from the stock's previous close.

Other analysts also recently issued reports about the stock. Citigroup raised their target price on shares of Occidental Petroleum from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, March 30th. Wells Fargo & Company raised shares of Occidental Petroleum from an "underweight" rating to an "overweight" rating and raised their target price for the company from $47.00 to $69.00 in a research note on Thursday, March 12th. Susquehanna lifted their price objective on shares of Occidental Petroleum from $51.00 to $60.00 and gave the stock a "positive" rating in a research report on Friday, February 20th. Weiss Ratings raised shares of Occidental Petroleum from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 9th. Finally, The Goldman Sachs Group lifted their target price on Occidental Petroleum from $41.00 to $54.00 and gave the stock a "sell" rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $59.74.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $57.56 on Tuesday. The company has a market capitalization of $57.08 billion, a price-to-earnings ratio of 35.72 and a beta of 0.23. The firm's 50 day simple moving average is $53.96 and its 200 day simple moving average is $46.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $67.45.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Occidental Petroleum by 0.8% in 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 purchasing an additional 699,137 shares in the last quarter. State Street Corp grew 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 acquiring an additional 828,848 shares during the last quarter. Geode Capital Management LLC grew its position in Occidental Petroleum by 0.9% in the fourth 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 acquiring an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer's stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. grew its position in Occidental Petroleum by 18.9% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

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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