Occidental Petroleum (OXY) Stock Forecast & Price Target

Occidental Petroleum
Bull Case

Here are some ways that investors could benefit from investing in Occidental Petroleum Co.:

• Occidental Petroleum Co. recently reported second-quarter earnings of $2.40 per share, significantly beating the analyst consensus estimate of $1.83, while revenue increased 53.4% year over year to $8.07 billion, demonstrating strong fundamental performance and operational efficiency.
• The company recently increased its quarterly dividend to $0.28 per share, up from the previous $0.26, resulting in an annualized dividend yield of 1.90% based on the current stock price of $56.33, which provides a steady income stream for investors.
• CEO Richard A. Jackson purchased 4,770 shares of the company's stock on June 23, 2026, at an average cost of $52.38 per share, signaling insider confidence in the company's future prospects and value.
• Short interest in Occidental Petroleum Co. has decreased significantly over the past several months, dropping from 40.3 million shares in late December 2025 to 20.9 million shares by August 2026, suggesting that investors are covering their short positions and reducing bearish pressure on the stock.
• Institutional investors have been increasing their stakes in the company, with Corient Private Wealth LP raising its position by 30.0% in the second quarter and Berkshire Hathaway Inc purchasing a new position worth approximately $12.8 billion, indicating strong institutional support.