Occidental Petroleum Corp (OXY) experienced a price decline of 3.01%, hitting a 20-day low during regular trading hours. This movement occurred as the broader market showed signs of weakness, with the Nasdaq-100 down 0.27% and the S&P 500 down 0.20%.
The decline in OXY's stock price is attributed to sector rotation, as investors are reacting to the overall market conditions. Despite B of A Securities maintaining a Neutral rating on Occidental Petroleum, the stock's performance reflects a cautious sentiment among investors, particularly in light of Warren Buffett's recent selling trend and concerns over high market valuations.
This price movement suggests that investors are reassessing their positions in Occidental Petroleum amid a challenging market environment. The company's fundamentals remain intact, but the current market dynamics may lead to increased volatility in the near term.
Wall Street analysts forecast OXY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OXY is 47.27 USD with a low forecast of 38.00 USD and a high forecast of 64.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
Wall Street analysts forecast OXY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OXY is 47.27 USD with a low forecast of 38.00 USD and a high forecast of 64.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
9 Hold
3 Sell
Hold
Current: 44.550
Low
38.00
Averages
47.27
High
64.00
Current: 44.550
Low
38.00
Averages
47.27
High
64.00
Piper Sandler
Mark Lear
Neutral
maintain
$46 -> $47
2026-01-28
New
Reason
Piper Sandler
Mark Lear
Price Target
$46 -> $47
AI Analysis
2026-01-28
New
maintain
Neutral
Reason
Piper Sandler analyst Mark Lear raised the firm's price target on Occidental to $47 from $46 and keeps a Neutral rating on the shares. Discussing the space, the firm says that for Q4, it anticipates strong prints from the gas equities, while WAHA pricing and weak oil and NGL prices were a headwind for oil names. Heading into FY26, the expectations are broadly for maintenance programs across Piper's oil coverage, while a number of gas producers are pushing for growth in response to increased LNG demand.
BofA
Neutral
maintain
$44 -> $45
2026-01-27
New
Reason
BofA
Price Target
$44 -> $45
2026-01-27
New
maintain
Neutral
Reason
BofA raised the firm's price target on Occidental to $45 from $44 and keeps a Neutral rating on the shares. The firm updates its price targets for Integrateds, Refining, and Midstream stocks under its coverage, the analyst tells investors. BofA notes the removal of Maduro in Venezuela and the unrest in Iran have lifted front month crude prices. The firm sees a blend of geopolitical and company specific catalysts ahead.
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Susquehanna
Charles Minervino
Positive
downgrade
$55 -> $51
2026-01-26
New
Reason
Susquehanna
Charles Minervino
Price Target
$55 -> $51
2026-01-26
New
downgrade
Positive
Reason
Susquehanna analyst Charles Minervino lowered the firm's price target on Occidental to $51 from $55 and keeps a Positive rating on the shares. The firm updated targets in the exploration and production group as part of a Q4 preview. The oil market remains oversupplied following the unwinding of OPEC's voluntary production cuts, which will put downward pressure on pricing when paired with soft demand growth globally, the analyst tells investors in a research note. Susquehanna dropped its 2026 West Texas Intermediate price assumption to $60 per barrel from $65. It remains bullish on long-term demand story for natural gas as well as growing power demand from data centers and electrification.
Morgan Stanley
Devin McDermott
Equal Weight
downgrade
$51 -> $50
2026-01-23
Reason
Morgan Stanley
Devin McDermott
Price Target
$51 -> $50
2026-01-23
downgrade
Equal Weight
Reason
Morgan Stanley analyst Devin McDermott lowered the firm's price target on Occidental to $50 from $51 and keeps an Equal Weight rating on the shares. The firm marked its 2026-27 oil price deck for strip as of January 7 in conjunction with its Q4 preview for the E&Ps, oil majors and Canadian producers. The firm expects "fairly clean" Q4 operational updates but lighter cash flow from price realizations, the analyst tells investors in the preview.
About OXY
Occidental Petroleum Corporation is an international energy company with assets primarily in the United States, the Middle East and North Africa. The Company is an oil and gas producer in the United States, including a producer in the Permian and DJ basins, and the offshore Gulf of Mexico. It operates through three segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops, and produces oil (which includes condensate), natural gas liquids (NGL) and natural gas. The chemical segment primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports, and stores oil (which includes condensate), NGL, natural gas, carbon dioxide (CO2) and power. The midstream and marketing segment provides flow assurance and maximizes the value of its oil and gas. It also optimizes its transportation and storage capacity and invests in entities that conduct similar activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
