Occidental Petroleum (OXY) Stock Forecast & Price Target

$50.45 -1.48 (-2.85%)

(As of 11/25/2024 ET)

Occidental Petroleum - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 20 Analyst Ratings

Sell
1

Hold
12

Buy
7

Based on 20 Wall Street analysts who have issued ratings for Occidental Petroleum in the last 12 months, the stock has a consensus rating of "Hold." Out of the 20 analysts, 1 has given a sell rating, 12 have given a hold rating, 6 have given a buy rating, and 1 has given a strong buy rating for OXY.

Consensus Price Target

$63.70
26.26% Upside

According to the 20 analysts' twelve-month price targets for Occidental Petroleum, the average price target is $63.70. The highest price target for OXY is $78.00, while the lowest price target for OXY is $54.00. The average price target represents a forecasted upside of 26.26% from the current price of $50.45.

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OXY Analyst Ratings Over Time

Type	Current Forecast 11/26/23 to 11/25/24	1 Month Ago 10/27/23 to 10/26/24	3 Months Ago 8/28/23 to 8/27/24	1 Year Ago 11/26/22 to 11/26/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	6 Buy rating(s)	5 Buy rating(s)	5 Buy rating(s)	8 Buy rating(s)
Hold	12 Hold rating(s)	11 Hold rating(s)	9 Hold rating(s)	9 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$63.70	$65.72	$71.69	$71.53
Forecasted Upside	26.26% Upside	27.42% Upside	26.12% Upside	18.90% Upside
Consensus Rating	Hold	Hold	Hold	Hold

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OXY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

OXY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Occidental Petroleum Stock vs. The Competition

Type	Occidental Petroleum	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.35	2.63	2.50
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	24.20% Upside	1,526.78% Upside	6.27% Upside
News Sentiment Rating	Positive News See Recent OXY News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/21/2024	Raymond James 4 of 5 stars		Boost Target	Strong-Buy ➝ Strong-Buy	$77.00 ➝ $78.00	+51.49%
11/18/2024	UBS Group 4 of 5 stars		Lower Target	Neutral ➝ Neutral	$59.00 ➝ $58.00	+13.21%
11/14/2024	Susquehanna 2 of 5 stars		Lower Target	Positive ➝ Positive	$77.00 ➝ $65.00	+27.15%
11/13/2024	Stephens Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$70.00 ➝ $71.00	+44.28%
11/12/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$53.00 ➝ $54.00	+6.74%
11/12/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$73.00 ➝ $75.00	+48.25%
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11/12/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$80.00 ➝ $68.00	+34.41%
11/8/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$56.00	+9.35%
10/17/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$57.00	+11.20%
10/10/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$80.00 ➝ $65.00	+18.79%
10/4/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform ➝ Market Perform	$70.00 ➝ $65.00	+16.70%
10/3/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$67.00 ➝ $58.00	+7.31%
10/2/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Mehta Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$55.00	+3.29%
9/30/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Underperform ➝ Underperform	$67.00 ➝ $63.00	+22.85%
9/30/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Dingmann Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold ➝ Hold	$65.00 ➝ $56.00	+7.96%
9/27/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$65.00 ➝ $56.00	+10.76%
9/16/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$76.00 ➝ $72.00	+39.70%
5/24/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$69.00 ➝ $65.00	+4.27%
4/8/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$65.00	-6.14%
3/28/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$66.00 ➝ $72.00	+10.74%
9/12/2023	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$60.00	-8.72%
6/13/2023	51job Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
6/13/2023	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$61.00 ➝ $62.00	+4.75%
2/27/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	L. Mariani Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 09:43 PM ET.

Should I Buy Occidental Petroleum Stock? OXY Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, November 24, 2024. Please send any questions or comments about these Occidental Petroleum pros and cons to contact@marketbeat.com.

Occidental Petroleum
Bull Case

Here are some ways that investors could benefit from investing in Occidental Petroleum Co.:

Occidental Petroleum Co. has a market capitalization of approximately $47.78 billion, indicating a strong presence in the oil and gas industry, which can attract institutional investors.
The company recently announced a quarterly dividend of $0.22 per share, translating to an annualized yield of 1.74%. This consistent dividend payment can provide a steady income stream for investors.
With a P/E ratio of 13.26, Occidental Petroleum Co. is considered relatively undervalued compared to the industry average, suggesting potential for price appreciation.
Recent institutional trading activity shows significant interest, with 88.70% of the stock owned by institutional investors and hedge funds, indicating confidence in the company's future performance.
The current stock price is around $51.75, which is near its 50-day moving average, suggesting stability and potential for upward movement in the near term.

Occidental Petroleum
Bear Case

Investors should be bearish about investing in Occidental Petroleum Co. for these reasons:

The company has a beta of 1.58, indicating higher volatility compared to the market. This means that the stock price may experience larger fluctuations, which can be risky for investors.
Occidental Petroleum Co. has a debt-to-equity ratio of 0.96, which is relatively high. This suggests that the company is using a significant amount of debt to finance its operations, potentially increasing financial risk.
The stock has a twelve-month low of $48.42, indicating that it has experienced significant price declines, which may raise concerns about its future performance.
With a quick ratio of 0.76, the company may face challenges in meeting its short-term liabilities, which could impact its financial stability.
Recent trading activity shows a slight decline of 0.8%, which may indicate bearish sentiment among investors and could lead to further price drops.

OXY Forecast - Frequently Asked Questions

: According to the research reports of 20 Wall Street equities research analysts, the average twelve-month stock price forecast for Occidental Petroleum is $63.70, with a high forecast of $78.00 and a low forecast of $54.00.
: 20 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Occidental Petroleum in the last year. There is currently 1 sell rating, 12 hold ratings, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" OXY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in OXY, but not buy additional shares or sell existing shares.
: According to analysts, Occidental Petroleum's stock has a predicted upside of 26.26% based on their 12-month stock forecasts.
: Occidental Petroleum has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Mizuho, Raymond James, Scotiabank, Stephens, Susquehanna, TD Cowen, The Goldman Sachs Group, Truist Financial, UBS Group, Wells Fargo & Company, and Wolfe Research in the past 90 days.
: Analysts like Occidental Petroleum less than other "oils/energy" companies. The consensus rating for Occidental Petroleum is Hold while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how OXY compares to other companies.

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This page (NYSE:OXY) was last updated on 11/25/2024 by MarketBeat.com Staff

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Occidental Petroleum (OXY) Stock Forecast & Price Target