Truist Financial Issues Pessimistic Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Key Points

• Truist Financial cut its price target on Occidental to $57 from $65 and kept a "hold" rating, implying roughly a 6.5% upside from the prior close.
• Occidental beat Q1 EPS estimates at $1.06 versus $0.60 but posted year‑over‑year revenue declines, and the stock traded down to about $53.51 (≈‑0.8%) amid profit‑taking.
• Analyst sentiment is mixed — the consensus rating is Hold with an average price target of $62.43, and institutional ownership is high at roughly 88.7%.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price target lowered by equities researchers at Truist Financial from $65.00 to $57.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the oil and gas producer's stock. Truist Financial's price target would suggest a potential upside of 6.53% from the company's previous close.

Other analysts have also issued research reports about the stock. Piper Sandler upgraded shares of Occidental Petroleum from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $54.00 to $66.00 in a research note on Thursday, March 12th. Scotiabank boosted their price objective on shares of Occidental Petroleum from $46.00 to $57.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Stephens raised their target price on Occidental Petroleum from $59.00 to $74.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Argus upgraded shares of Occidental Petroleum to a "hold" rating in a research note on Friday, February 27th. Finally, Weiss Ratings raised shares of Occidental Petroleum from a "hold (c-)" rating to a "hold (c+)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of "Hold" and an average price target of $62.43.

Occidental Petroleum Trading Down 0.8%

Shares of Occidental Petroleum stock traded down $0.43 during mid-day trading on Friday, hitting $53.51. 5,930,506 shares of the stock were exchanged, compared to its average volume of 15,536,021. The company has a 50-day simple moving average of $58.02 and a 200 day simple moving average of $48.18. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $53.22 billion, a price-to-earnings ratio of 13.49 and a beta of 0.17. Occidental Petroleum has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business's revenue for the quarter was down 8.3% on a year-over-year basis. Research analysts forecast that Occidental Petroleum will post 4.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Portus Wealth Advisors LLC acquired a new stake in shares of Occidental Petroleum during the first quarter worth approximately $29,000. Caitlin John LLC bought a new stake in Occidental Petroleum during the 4th quarter worth about $29,000. Activest Wealth Management increased its position in Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 305 shares in the last quarter. Rossby Financial LCC lifted its position in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Trending Headlines about Occidental Petroleum

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

• Positive Sentiment: Q1 earnings beat and segment guidance: OXY reported a sizable EPS beat and said key segments beat guidance, supporting earnings quality and deleveraging progress. This underpins upside potential if oil stays firm. Occidental Petroleum (OXY) Beats Guidance in Key Segments during Q1 2026
• Neutral Sentiment: CEO succession announced: CEO Vicki Hollub said she will retire, creating leadership transition risk and opportunity; markets will watch the successor and any strategic shifts. Occidental Petroleum: Buy, Sell, or Hold?
• Neutral Sentiment: Hedge policy change — Occidental will not add new oil hedges after recent volatility. That increases upside exposure if prices rally but raises realized‑price volatility risk. Occidental scraps new oil hedges as Iran war fuels price volatility
• Negative Sentiment: UBS trims price target to $65 and keeps a neutral rating — a mild downgrade to expectations that reduces near‑term analyst support. UBS adjusts price target on Occidental Petroleum
• Negative Sentiment: JPMorgan trims price target to $63 and maintains neutral — another analyst pullback that can pressure sentiment despite the stock still showing upside to these targets. JPMorgan adjusts price target on Occidental Petroleum
• Negative Sentiment: Macro/geopolitical headlines easing: reports of a potential Iran deal and related oil‑price calming overshadowed the earnings beat, prompting short‑term profit‑taking in OXY and other oil names. Why Occidental Petroleum Retreated Today
• Negative Sentiment: Bearish/valuation views: commentary arguing recent oil tailwinds are already priced in warns investors that upside may be limited from here. Occidental Petroleum: Temporary Oil Tailwinds Already Baked In

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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