Occidental Petroleum (NYSE:OXY) Sets New 52-Week High - Still a Buy?

Key Points

• Occidental Petroleum hit a new 52‑week high of $62.11 as rising crude prices, positive macro headlines and broker support (including a JPMorgan upgrade) fueled momentum and comparisons that it may benefit more than some Permian peers due to limited hedging.
• Company fundamentals are mixed — it beat EPS but missed revenue and reported a 5.2% year‑over‑year revenue decline — and Wall Street’s consensus is a Hold with an average price target of $55.59, below the current share price and potentially capping near‑term upside.
• Occidental boosted its quarterly dividend to $0.26 (a 1.7% yield) and remains heavily institutionally owned (~88.7%), while trading with a market cap of ~$60.7B and a PE of 38.0.

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $62.11 and last traded at $61.1770, with a volume of 14353750 shares. The stock had previously closed at $60.31.

Occidental Petroleum News Summary

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

• Positive Sentiment: Analyst / comparison pieces argue OXY stands to benefit more than some Permian peers from oil-price spikes due to limited hedging (boosting near-term cash flow) and stronger earnings revisions — a structural reason for relative outperformance. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Positive Sentiment: JPMorgan/other broker activity: recent upgrade/newsflow (reported 3/23) and coverage comparisons have supported investor interest and momentum in OXY. Occidental Petroleum Upgraded at JPMorgan Chase & Co.
• Positive Sentiment: Macro headlines (reported pre-market) — constructive U.S.-Iran diplomatic comments — lifted crude futures and oil-linked names, providing a tailwind to OXY shares. Pre-Market Turns Green
• Positive Sentiment: Market commentary and screens are including OXY among oil stocks with outsized upside potential amid the recent crude rally, which can attract momentum and thematic inflows. 3 Oil Stocks Set to Deliver 50%+ Returns in 2026
• Neutral Sentiment: Truist initiated coverage with a "Hold" and $65 price target (modest upside vs. the current level) — a neutral signal that may cap short-term upside until clearer catalysts emerge. Benzinga Coverage Note
• Neutral Sentiment: Several articles ask whether the recent run makes OXY fully valued now; these pieces can temper new-money flows even as momentum remains. Is It Too Late To Consider Occidental Petroleum?
• Negative Sentiment: Company fundamentals to watch: last reported quarter beat EPS but missed revenue and year-over-year revenue was down; those execution/volume signals could restrain valuation if higher oil prices don’t translate into sustainable top-line growth. (Quarterly details reported Feb 18.)

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Occidental Petroleum from $42.00 to $47.00 and gave the stock a "hold" rating in a research note on Monday, February 23rd. TD Cowen raised their target price on Occidental Petroleum from $48.00 to $54.00 and gave the stock a "hold" rating in a research note on Monday, February 23rd. Zacks Research raised shares of Occidental Petroleum from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Susquehanna upped their price objective on shares of Occidental Petroleum from $51.00 to $60.00 and gave the company a "positive" rating in a report on Friday, February 20th. Finally, UBS Group raised their price objective on shares of Occidental Petroleum from $49.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $55.59.

Occidental Petroleum Price Performance

The stock has a 50-day simple moving average of $49.92 and a 200 day simple moving average of $45.21. The company has a market cap of $60.67 billion, a PE ratio of 38.00 and a beta of 0.34. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly 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 business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The company's revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.7%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 10th. Occidental Petroleum's payout ratio is 64.60%.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently made changes to their positions in OXY. Caitlin John LLC purchased a new stake in Occidental Petroleum in the fourth quarter valued at approximately $29,000. Activest Wealth Management boosted its position in shares of Occidental Petroleum by 68.5% during the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock worth $31,000 after buying an additional 305 shares during the period. Rossby Financial LCC grew its stake in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. City Holding Co. raised its holdings in shares of Occidental Petroleum by 250.0% in the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 500 shares during the period. Finally, Binnacle Investments Inc acquired a new position in Occidental Petroleum during the 3rd quarter worth about $35,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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