Truist Financial Begins Coverage on Occidental Petroleum (NYSE:OXY)

Investment analysts at Truist Financial began coverage on shares of Occidental Petroleum (NYSE:OXY) in a report issued on Tuesday, Marketbeat reports. The firm set a “hold” rating and a $65.00 price target on the oil and gas producer’s stock. Truist Financial’s price target suggests a potential upside of 5.12% from the stock’s previous close.

OXY has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on shares of Occidental Petroleum from $41.00 to $54.00 and gave the stock a “sell” rating in a research note on Wednesday, March 11th. BMO Capital Markets upped their target price on Occidental Petroleum from $48.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Wells Fargo & Company raised Occidental Petroleum from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $69.00 in a research report on Thursday, March 12th. Zacks Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised Occidental Petroleum from an “underweight” rating to a “neutral” rating and set a $63.00 price objective on the stock in a report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $55.59.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $61.83 on Tuesday. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $62.26. 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 firm has a market capitalization of $61.32 billion, a price-to-earnings ratio of 38.41 and a beta of 0.34. The stock’s 50-day simple moving average is $50.27 and its 200-day simple moving average is $45.32.

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

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Carrera Capital Advisors lifted its stake in shares of Occidental Petroleum by 0.5% in the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock valued at $1,831,000 after purchasing an additional 227 shares during the period. Moody National Bank Trust Division boosted its holdings in Occidental Petroleum by 1.5% during the third quarter. Moody National Bank Trust Division now owns 15,555 shares of the oil and gas producer’s stock worth $735,000 after buying an additional 229 shares in the last quarter. Summit Securities Group LLC grew its position 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 buying an additional 229 shares during the period. Apella Capital LLC increased its holdings in Occidental Petroleum by 3.4% in the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 233 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in shares of Occidental Petroleum by 1.8% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 13,934 shares of the oil and gas producer’s stock worth $573,000 after acquiring an additional 249 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum News Roundup

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

• Positive Sentiment: Stock momentum — Occidental hit a new 52‑week high, signaling strong investor demand and technical strength that can attract momentum flows. Occidental Petroleum (NYSE:OXY) Hits New 52-Week High – What’s Next?
• Positive Sentiment: Industry outlook — Zacks lists OXY among three U.S. integrated energy names positioned to gain despite sector headwinds, highlighting scale and resilience versus smaller peers. That endorsement supports investor confidence in OXY’s ability to weather slower industry growth. 3 US Integrated Energy Stocks to Gain Despite Industry Headwinds
• Positive Sentiment: Operational leverage to oil — Coverage comparing Devon (DVN) and OXY notes Occidental benefits more from oil spikes because it carries little-to-no hedges, which can materially boost near‑term cash flow and earnings revisions when prices rise. That makes OXY more cyclical-positive in a rising oil environment. DVN vs. OXY: Which Permian Stock Benefits More From Oil Price Spikes?
• Neutral Sentiment: Analyst coverage — Truist initiated coverage on OXY with a “hold” rating and a $65 price target (roughly low-single-digit upside from current levels). Coverage increases visibility but the “hold” and modest target limit the near-term upgrade catalyst. Truist Securities initiates coverage of Occidental Petroleum (OXY) with hold recommendation
• Neutral Sentiment: Market note — Recent market write‑ups (Zacks/Yahoo) highlight OXY’s outperformance while the broader market fell, underscoring the stock’s current relative strength but not adding new fundamental catalysts. Occidental Petroleum (OXY) Ascends While Market Falls: Some Facts to Note

About Occidental Petroleum

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.