Occidental Petroleum (NYSE:OXY) Stock Price Down 4% Following Analyst Downgrade

Key Points

• Occidental shares fell about 4% after Capital One cut its price target to $67 (from $69) and kept an equal-weight rating; the stock traded as low as $55.45 with volume near 3.33 million shares, about 79% below its average.
• The analyst picture is mixed but MarketBeat's consensus remains "Hold" with a $60.83 price target, even as several firms (Wells Fargo, UBS, Stephens, Citigroup) revised targets higher and ratings span from Strong Buy to Sell.
• Institutional ownership is high (~88.7%) with major managers like Vanguard and State Street adding shares, and Occidental recently raised its quarterly dividend to $0.26 (annualized $1.04, roughly a 1.9% yield).

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) shares dropped 4% on Tuesday after Capital One Financial lowered their price target on the stock from $69.00 to $67.00. Capital One Financial currently has an equal weight rating on the stock. Occidental Petroleum traded as low as $55.45 and last traded at $55.7170. Approximately 3,325,728 shares changed hands during trading, a decline of 79% from the average daily volume of 16,110,120 shares. The stock had previously closed at $58.06.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company increased their price target on Occidental Petroleum from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Citigroup increased their price target on Occidental Petroleum from $45.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, March 30th. Roth Mkm increased their price target on Occidental Petroleum from $39.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. UBS Group increased their price target on Occidental Petroleum from $64.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Stephens increased their price target on Occidental Petroleum from $59.00 to $74.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.83.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Boardroom change viewed as constructive: Occidental announced a CEO succession (Vicki Hollub retiring; Richard Jackson to take over), which earlier pushed the stock higher as investors priced in potential strategic continuity or operational tweaks. Occidental Petroleum Is Getting a New CEO in 2026
• Positive Sentiment: Analysts lifted targets — UBS raised its price target to $67 while keeping a neutral stance, signaling higher upside than the current level. That helped spark buying interest earlier in the session. UBS raises PT to $67 (Benzinga)
• Positive Sentiment: Additional analyst upgrades: Jefferies raised its target to $58 (hold) and JPMorgan nudged its target to $64 (neutral), adding more buy-side attention and suggesting modest analyst conviction in near-term upside. Jefferies raises PT to $58 JPMorgan raises PT to $64
• Positive Sentiment: Value-screen inclusion: Zacks highlighted OXY among five value stocks with attractive EV/EBITDA metrics, which can attract value-focused investors and supports longer-term interest. Zacks: 5 Value Stocks With Impressive EV-to-EBITDA Ratios
• Neutral Sentiment: Short-term bullish thesis ahead of Q1 update: The Motley Fool pieces argue OXY could be a buy before the May 6 Q1 update and over the longer term; this is speculative and depends on the company's Q1 beat. Prediction: Occidental Petroleum Stock Is a Buy Before May 6
• Negative Sentiment: Operational/financial caution: recent quarterly data showed an EPS beat but revenue missed estimates and revenue declined year‑over‑year — a reminder that fundamentals (revenue growth, margins and leverage) still matter and may prompt profit‑taking after the recent rally.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 buying an additional 699,137 shares during the last quarter. State Street Corp raised its stake 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 during the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 167,518 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. raised its stake 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 buying an additional 1,071,948 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Performance

The business has a 50 day simple moving average of $55.05 and a 200 day simple moving average of $46.78. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $55.17 billion, a PE ratio of 34.61 and a beta of 0.23.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period last year, the business posted $0.80 earnings per share. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 10th. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. Occidental Petroleum's dividend payout ratio (DPR) is 64.60%.

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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