Barclays Boosts Occidental Petroleum (NYSE:OXY) Price Target to $75.00

Posted by Geri Gentry on Aug 6th, 2026

Occidental Petroleum (NYSE:OXY – Get Free Report) had its target price hoisted by equities research analysts at Barclays from $72.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Barclays‘s target price points to a potential upside of 32.72% from the stock’s current price.

Several other brokerages also recently commented on OXY. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Wednesday, July 8th. Citigroup lowered their target price on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Wells Fargo & Company upped their price objective on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Susquehanna increased their price objective on Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. Finally, Raymond James Financial boosted their target price on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $64.30.

Read Our Latest Research Report on OXY

Occidental Petroleum Trading Up 5.0%

Shares of OXY stock traded up $2.70 on Thursday, reaching $56.51. 6,411,244 shares of the stock were exchanged, compared to its average volume of 13,252,887. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. Occidental Petroleum has a one year low of $38.80 and a one year high of $67.45. The stock has a market cap of $56.21 billion, a PE ratio of 14.24, a P/E/G ratio of 0.81 and a beta of 0.15. The stock has a 50 day moving average price of $54.25 and a 200 day moving average price of $54.29.

Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the business earned $0.39 earnings per share. The company’s revenue was up 53.4% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum will post 5.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard A. Jackson purchased 4,770 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the purchase, the chief executive officer directly owned 444,098 shares in the company, valued at $23,261,853.24. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently added to or reduced their stakes in OXY. Axiom Investment Management LLC bought a new stake in Occidental Petroleum during the first quarter worth $25,000. GKV Capital Management Co. Inc. bought a new position in shares of Occidental Petroleum in the 1st quarter valued at about $26,000. Portus Wealth Advisors LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth about $29,000. Caitlin John LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $29,000. Finally, Activest Wealth Management lifted its stake in Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

Positive Sentiment: Occidental reported second-quarter 2026 adjusted earnings of $2.40 per share, well above analyst expectations of approximately $1.83–$1.92 and up from $0.39 a year earlier. Revenue reached about $8.07 billion, exceeding the roughly $7.07 billion consensus estimate and increasing more than 50% year over year. Occidental Petroleum Q2 Earnings and Revenues Top Estimates
Positive Sentiment: Profit growth was supported by higher realized crude oil prices, while Occidental’s midstream and marketing operations returned to profitability. The results indicate strong operating leverage when commodity prices are favorable. Occidental Profit Jumps on Higher Oil Prices and Midstream Gains
Positive Sentiment: Before the release, analysts expected growth to be supported by debt reduction and cash flow generation. The substantial earnings and revenue beats improve the near-term fundamental outlook, although management’s conference call may provide additional guidance. Occidental Petroleum Set to Report Q2 Earnings
Neutral Sentiment: Occidental formally released its second-quarter results after the market close and scheduled a conference call for August 6. Investors may focus on production trends, capital spending, debt reduction and the outlook for commodity prices. Occidental Announces Second Quarter 2026 Results
Negative Sentiment: Oil prices were reportedly under pressure amid U.S.-Iran peace talks. Lower crude prices could reduce Occidental’s realized prices, cash flow and earnings in future quarters, making the stock sensitive to geopolitical developments and commodity volatility. Occidental Petroleum in Focus as Oil Slides on U.S.-Iran Peace Talks
Negative Sentiment: Analysts had cautioned that OXY’s valuation appeared relatively full despite debt cuts and improved cash flow. Consequently, investors may be taking profits or demanding stronger forward guidance even after the sizable quarterly beat.

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.