Occidental Petroleum (NYSE:OXY) Hits New 52-Week High – What’s Next?

Occidental Petroleum Corporation (NYSE:OXY) reached a new 52-week high on Wednesday . The stock traded as high as $62.11 and last traded at $61.1770, with a volume of 14353750 shares changing hands. The stock had previously closed at $60.31.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Analyst / comparison pieces argue OXY stands to benefit more than some Permian peers from oil-price spikes due to limited hedging (boosting near-term cash flow) and stronger earnings revisions — a structural reason for relative outperformance. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Positive Sentiment: JPMorgan/other broker activity: recent upgrade/newsflow (reported 3/23) and coverage comparisons have supported investor interest and momentum in OXY. Occidental Petroleum Upgraded at JPMorgan Chase & Co.
• Positive Sentiment: Macro headlines (reported pre-market) — constructive U.S.-Iran diplomatic comments — lifted crude futures and oil-linked names, providing a tailwind to OXY shares. Pre-Market Turns Green
• Positive Sentiment: Market commentary and screens are including OXY among oil stocks with outsized upside potential amid the recent crude rally, which can attract momentum and thematic inflows. 3 Oil Stocks Set to Deliver 50%+ Returns in 2026
• Neutral Sentiment: Truist initiated coverage with a “Hold” and $65 price target (modest upside vs. the current level) — a neutral signal that may cap short-term upside until clearer catalysts emerge. Benzinga Coverage Note
• Neutral Sentiment: Several articles ask whether the recent run makes OXY fully valued now; these pieces can temper new-money flows even as momentum remains. Is It Too Late To Consider Occidental Petroleum?
• Negative Sentiment: Company fundamentals to watch: last reported quarter beat EPS but missed revenue and year-over-year revenue was down; those execution/volume signals could restrain valuation if higher oil prices don’t translate into sustainable top-line growth. (Quarterly details reported Feb 18.)

Wall Street Analysts Forecast Growth

OXY has been the topic of several research reports. UBS Group increased their price target on shares of Occidental Petroleum from $49.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Jefferies Financial Group upped their target price on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Mizuho increased their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Argus raised shares of Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. Finally, Weiss Ratings raised Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.59.

Occidental Petroleum Price Performance

The stock’s 50 day moving average is $49.92 and its two-hundred day moving average is $45.21. The stock has a market capitalization of $60.67 billion, a PE ratio of 38.00 and a beta of 0.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 10th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is presently 64.60%.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Occidental Petroleum by 21.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after buying an additional 1,883,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after acquiring an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Invesco Ltd. lifted its stake in Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Occidental Petroleum by 134.3% during the third quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after purchasing an additional 1,040,941 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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.