Occidental Petroleum (NYSE:OXY) Price Target Raised to $46.00

Occidental Petroleum (NYSE:OXY) had its price target lifted by Roth Capital from $45.00 to $46.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock. Roth Capital also issued estimates for Occidental Petroleum’s FY2025 earnings at $2.11 EPS, Q1 2026 earnings at $0.33 EPS, Q2 2026 earnings at $0.21 EPS, Q3 2026 earnings at $0.46 EPS and Q4 2026 earnings at $0.58 EPS.

Several other research firms have also commented on OXY. Scotiabank upped their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Finally, Melius started coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.87.

Occidental Petroleum Trading Up 1.4%

Shares of NYSE:OXY opened at $44.86 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $56.49. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of 26.54 and a beta of 0.95. The business has a 50-day moving average price of $45.63 and a 200-day moving average price of $43.79.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Occidental Petroleum’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts predict that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is presently 56.80%.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Occidental Petroleum in the 1st quarter valued at $1,274,000. Kestra Private Wealth Services LLC boosted its position in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after acquiring an additional 140,528 shares during the last quarter. swisspartners Advisors Ltd purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $344,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.