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

Posted by George Bondi on Aug 9th, 2026

Occidental Petroleum (NYSE:OXY – Free Report) had its target price raised by Barclays from $72.00 to $75.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other analysts have also issued reports on the stock. Mizuho upped their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Stephens dropped their price target on shares of Occidental Petroleum from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on shares of Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Scotiabank increased their price objective on shares of Occidental Petroleum from $46.00 to $57.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.61.

View Our Latest Stock Analysis on OXY

Occidental Petroleum Stock Down 0.2%

Shares of NYSE:OXY opened at $55.92 on Thursday. The business’s 50 day moving average is $54.21 and its 200 day moving average is $54.39. Occidental Petroleum has a 12-month low of $38.80 and a 12-month high of $67.45. The stock has a market cap of $55.62 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.82 and a beta of 0.15. The company has a quick ratio of 1.01, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%.The business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the firm posted $0.39 EPS. Occidental Petroleum’s quarterly revenue was up 53.4% compared to the same quarter last year. On average, sell-side analysts forecast that Occidental Petroleum will post 5.38 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 10th will be issued a $0.28 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Occidental Petroleum’s payout ratio is presently 16.10%.

Insiders Place Their Bets

In related news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OXY. Whittier Trust Co. of Nevada Inc. increased its position in Occidental Petroleum by 12.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Athena Wealth Management LLC raised its stake in shares of Occidental Petroleum by 1.2% in 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 buying an additional 214 shares during the period. Elevation Wealth Partners LLC lifted its position in shares of Occidental Petroleum by 15.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 220 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Occidental Petroleum by 2.8% during the 2nd quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock worth $442,000 after acquiring an additional 220 shares during the period. Finally, Carrera Capital Advisors grew its stake in shares of Occidental Petroleum by 0.5% during the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 227 shares during the period. 88.70% of the stock is owned by institutional investors.

Key Stories Impacting Occidental Petroleum

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

Positive Sentiment: Q2 earnings significantly exceeded expectations. Adjusted earnings were $2.40 per share versus consensus estimates of roughly $1.83–$1.92, while revenue reached $8.07 billion, well above forecasts. Revenue increased more than 50% year over year. Occidental Q2 Earnings Beat on Oil Prices and Midstream Strength
Positive Sentiment: Cash flow and leverage improved. OXY generated its strongest quarterly free cash flow since 2022 and reduced principal debt by $1.9 billion to $11.8 billion, its lowest level in seven years. Management also outlined a plan to generate more than $4 billion in annual sustainable cash-flow gains by 2030 through lower costs, reduced capital needs and balance-sheet improvement. Occidental Petroleum Q2 2026 Earnings Call Highlights
Positive Sentiment: Shareholder returns and analyst sentiment strengthened. Occidental raised its quarterly dividend 7.7% to $0.28 per share. Wells Fargo raised its price target to $79 from $72 and Barclays lifted its target to $75 from $72; both maintain overweight ratings. Analyst price-target updates
Neutral Sentiment: Operating performance was strong but commodity-sensitive. Global production averaged 1.433 million barrels of oil equivalent per day, above the high end of guidance, while realized crude prices rose sharply. Midstream and marketing income also exceeded guidance, but future results remain exposed to oil-price movements.
Negative Sentiment: Management expects limited near-term growth. Occidental projects production and capital spending will remain roughly flat in 2027 while it continues prioritizing debt reduction. That discipline supports deleveraging but may reduce expectations for production expansion. Occidental sees flat spending, output in 2027

About Occidental Petroleum

(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.