Occidental Petroleum (OXY) Stock Forecast & Price Target

$60.55

+0.02 (+0.03%)

(As of 07/26/2024 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

Hold
Based on 15 Analyst Ratings

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, 9 have given a hold rating, 5 have given a buy rating, and 1 has given a strong buy rating for OXY.

Consensus Price Target

$72.31
19.43% Upside

High Forecast	$82.00
Average Forecast	$72.31
Low Forecast	$60.00

According to the 15 analysts' twelve-month price targets for Occidental Petroleum, the average price target is $72.31. 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 19.43% from the current price of $60.55.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
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	5 Buy rating(s)	4 Buy rating(s)	5 Buy rating(s)	7 Buy rating(s)
Hold	9 Hold rating(s)	10 Hold rating(s)	8 Hold rating(s)	9 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$72.31	$71.56	$71.94	$69.19
Forecasted Upside	19.43% Upside	13.01% Upside	11.72% Upside	11.47% Upside

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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.

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.

Occidental Petroleum Stock vs. The Competition

Type	Occidental Petroleum	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.47	2.56	2.50
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	19.43% Upside	230.34% Upside	9.09% Upside
News Sentiment Rating	Positive News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
7/22/2024	Truist Financial 1 of 5 stars	N. Dingmann Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold ➝ Hold	$69.00 ➝ $67.00	+8.01%
7/18/2024	Wolfe Research 3 of 5 stars	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$81.00	+28.26%
7/15/2024	Stephens 4 of 5 stars		Lower Target	Overweight ➝ Overweight	$78.00 ➝ $77.00	+25.82%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$90.00 ➝ $80.00	+30.72%
7/12/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$69.00 ➝ $68.00	+10.88%
5/24/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$69.00 ➝ $65.00	+4.27%
Get the Latest News and Ratings for OXY and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Occidental Petroleum and its competitors with MarketBeat's FREE daily newsletter.
5/8/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$70.00 ➝ $71.00	+9.11%
4/22/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Positive ➝ Positive	$70.00 ➝ $81.00	+21.57%
4/10/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight	$73.00	+6.49%
4/8/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$65.00	-6.14%
3/28/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$66.00 ➝ $72.00	+10.74%
1/24/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Strong-Buy ➝ Strong-Buy	$70.00 ➝ $68.00	+18.72%
12/8/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$78.00 ➝ $73.00	+29.18%
10/4/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$72.00 ➝ $74.00	+23.95%
9/27/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$78.00 ➝ $82.00	+29.87%
9/12/2023	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$60.00	-8.72%
7/10/2023	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$60.00 ➝ $59.00	+0.67%
6/13/2023	51job Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
6/13/2023	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$61.00 ➝ $62.00	+4.75%
4/21/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$68.00 ➝ $77.00	+24.45%
3/28/2023	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Market Perform ➝ Outperform	$63.00 ➝ $70.00	+17.35%
2/27/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	L. Mariani Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral
11/9/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform	$63.00 ➝ $65.00	-10.60%
10/19/2022	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold
8/19/2022	Tudor, Pickering, Holt & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold
8/19/2022	Tudor Pickering Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 07:20 AM 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 $72.31, 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 equities research analysts have issued "buy," "hold," and "sell" ratings for Occidental Petroleum in the last year. There are currently 9 hold ratings, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research 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 14.77% 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, Truist Financial, Wells Fargo & Company, and Wolfe Research 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.