Raymond James Financial Forecasts Strong Price Appreciation for Occidental Petroleum (NYSE:OXY) Stock

Posted by George Bondi on May 5th, 2026

Occidental Petroleum (NYSE:OXY – Get Free Report) had its target price hoisted by equities research analysts at Raymond James Financial from $64.00 to $75.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James Financial’s price objective suggests a potential upside of 26.12% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Susquehanna upped their price target on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. TD Cowen upped their price target on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Wolfe Research increased their target price on Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, Bank of America increased their target price on Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $62.91.

Check Out Our Latest Report on OXY

Occidental Petroleum Stock Down 1.3%

Shares of Occidental Petroleum stock traded down $0.81 during midday trading on Monday, hitting $59.47. The company had a trading volume of 1,295,189 shares, compared to its average volume of 15,459,810. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a market capitalization of $58.97 billion, a P/E ratio of 37.01 and a beta of 0.17. The company has a 50 day moving average of $57.77 and a 200 day moving average of $47.87. Occidental Petroleum has a 52-week low of $38.72 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.13. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, equities analysts predict that Occidental Petroleum will post 4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in Occidental Petroleum by 12.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after acquiring an additional 196 shares during the period. Athena Wealth Management LLC raised its holdings in Occidental Petroleum by 1.2% during the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock valued at $1,206,000 after acquiring an additional 214 shares during the period. Carrera Capital Advisors raised its holdings in Occidental Petroleum by 0.5% during the fourth quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock valued at $1,831,000 after acquiring an additional 227 shares during the period. Summit Securities Group LLC raised its holdings in Occidental Petroleum by 18.5% during the fourth quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 229 shares during the period. Finally, Apella Capital LLC raised its holdings in Occidental Petroleum by 3.4% during the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after acquiring an additional 233 shares during the period. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Company Profile

(Get Free Report)

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.