Free Trial

Occidental Petroleum (OXY) Stock Forecast & Price Target

$62.16
+0.16 (+0.26%)
(As of 03:08 PM ET)

Occidental Petroleum - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 15 Wall Street analysts who have issued ratings for Occidental Petroleum in the last 12 months, the stock has a consensus rating of "Hold." Out of the 15 analysts, 10 have given a hold rating, 4 have given a buy rating, and 1 has given a strong buy rating for OXY.

Consensus Price Target

$71.87
15.62% Upside
High Forecast$82.00
Average Forecast$71.87
Low Forecast$60.00

According to the 15 analysts' twelve-month price targets for Occidental Petroleum, the average price target is $71.87. The highest price target for OXY is $82.00, while the lowest price target for OXY is $60.00. The average price target represents a forecasted upside of 15.62% from the current price of $62.16.

TypeCurrent Forecast
7/17/23 to 7/16/24
1 Month Ago
6/17/23 to 6/16/24
3 Months Ago
4/18/23 to 4/17/24
1 Year Ago
7/17/22 to 7/17/23
Consensus Rating
Hold
Hold
Moderate Buy
Hold
Strong Buy
1 Strong Buy rating(s)
1 Strong Buy rating(s)
1 Strong Buy rating(s)
1 Strong Buy rating(s)
Buy
4 Buy rating(s)
4 Buy rating(s)
6 Buy rating(s)
8 Buy rating(s)
Hold
10 Hold rating(s)
10 Hold rating(s)
8 Hold rating(s)
10 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
2 Sell rating(s)
Consensus Price Target$71.87$71.50$72.06$70.24
Forecasted Upside15.62% Upside12.70% Upside12.17% Upside13.07% Upside
Get Occidental Petroleum Upgrade and Downgrade Alerts

Sign-up to receive the latest news and ratings for OXY and its competitors with MarketBeat's FREE daily newsletter.

OXY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
Skip Chart & View Analyst Rating History

OXY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
Skip Chart and View Analyst Price Target HistorySkip Chart & View Price History Table

Occidental Petroleum Stock vs. The Competition

TypeOccidental PetroleumOils/Energy CompaniesS&P 500
Consensus Rating Score
2.40
2.56
2.50
Consensus RatingHoldModerate BuyModerate Buy
Predicted Upside15.63% Upside308.17% Upside8.11% Upside
News Sentiment RatingNeutral News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/15/2024Stephens
4 of 5 stars
 Lower TargetOverweight ➝ Overweight$78.00 ➝ $77.00+25.82%
7/12/2024Scotiabank
5 of 5 stars
 Lower TargetSector Outperform ➝ Sector Outperform$90.00 ➝ $80.00+30.72%
7/12/2024Wells Fargo & Company
3 of 5 stars
 Lower TargetEqual Weight ➝ Equal Weight$69.00 ➝ $68.00+10.88%
5/24/2024Citigroup
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Lower TargetNeutral ➝ Neutral$69.00 ➝ $65.00+4.27%
5/16/2024Truist Financial
Subscribe to MarketBeat All Access for the recommendation accuracy rating
N. Dingmann
Subscribe to MarketBeat All Access for the recommendation accuracy rating
DowngradeBuy ➝ Hold$84.00 ➝ $69.00+8.82%
5/8/2024Mizuho
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetNeutral ➝ Neutral$70.00 ➝ $71.00+9.11%
4/22/2024Susquehanna
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetPositive ➝ Positive$70.00 ➝ $81.00+21.57%
4/10/2024Barclays
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Initiated CoverageEqual Weight$73.00+6.49%
4/8/2024HSBC
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Initiated CoverageHold$65.00-6.14%
3/28/2024Morgan Stanley
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetOverweight ➝ Overweight$66.00 ➝ $72.00+10.74%
1/24/2024Raymond James
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Lower TargetStrong-Buy ➝ Strong-Buy$70.00 ➝ $68.00+18.72%
12/8/2023JPMorgan Chase & Co.
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Lower TargetNeutral ➝ Neutral$78.00 ➝ $73.00+29.18%
11/10/2023Wolfe Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 DowngradeOutperform ➝ Peer Perform
10/4/2023UBS Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetNeutral ➝ Neutral$72.00 ➝ $74.00+23.95%
9/27/2023Bank of America
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost Target$78.00 ➝ $82.00+29.87%
9/12/2023Roth Mkm
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Reiterated RatingNeutral ➝ Neutral$60.00-8.72%
7/10/2023Evercore ISI
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Lower Target$60.00 ➝ $59.00+0.67%
6/13/202351job
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Reiterated RatingMaintains
6/13/2023Piper Sandler
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost Target$61.00 ➝ $62.00+4.75%
4/21/2023The Goldman Sachs Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetBuy$68.00 ➝ $77.00+24.45%
3/28/2023TD Cowen
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 UpgradeMarket Perform ➝ Outperform$63.00 ➝ $70.00+17.35%
2/27/2023Roth Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating
L. Mariani
Subscribe to MarketBeat All Access for the recommendation accuracy rating
Reiterated RatingNeutral
11/9/2022Credit Suisse Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Boost TargetUnderperform$63.00 ➝ $65.00-10.60%
10/19/2022Jefferies Financial Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Initiated CoverageHold
8/19/2022Tudor, Pickering, Holt & Co.
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 DowngradeBuy ➝ Hold
8/19/2022Tudor Pickering
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 DowngradeBuy ➝ Hold
7/20/2022MKM Partners
Subscribe to MarketBeat All Access for the recommendation accuracy rating
 Reiterated RatingNeutral$65.00+3.47%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 03:35 PM ET.

OXY Forecast - Frequently Asked Questions

What is Occidental Petroleum's forecast for 2024?

According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Occidental Petroleum is $71.87, with a high forecast of $82.00 and a low forecast of $60.00.

Should I buy or sell Occidental Petroleum stock right now?

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Occidental Petroleum in the last year. There are currently 10 hold ratings, 4 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" OXY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in OXY, but not buy additional shares or sell existing shares.

Does Occidental Petroleum's stock price have much upside?

According to analysts, Occidental Petroleum's stock has a predicted upside of 13.91% based on their 12-month stock forecasts.

Has Occidental Petroleum been downgraded by Wall Street analysts recently?

Over the previous 90 days, Occidental Petroleum's stock had 1 downgrade by analysts.

What analysts cover Occidental Petroleum?

Occidental Petroleum has been rated by research analysts at Citigroup, Mizuho, Scotiabank, Stephens, Susquehanna, Truist Financial, and Wells Fargo & Company in the past 90 days.

Do Wall Street analysts like Occidental Petroleum more than its competitors?

Analysts like Occidental Petroleum less than other "oils/energy" companies. The consensus rating for Occidental Petroleum is Hold while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how OXY compares to other companies.


This page (NYSE:OXY) was last updated on 7/16/2024 by MarketBeat.com Staff

From Our Partners