OXY Price Prediction Next Week
Analysis and Insights
News Impact:
The Trump administration's expansion of oil and gas drilling in Alaska is expected to benefit Occidental Petroleum (OXY), as it increases access to new resources and potential revenue streams. This move is seen as positive for major oil companies like Exxon Mobil (XOM), Chevron (CVX), and OXY, with analysts expecting upside from this development.
Technical Analysis:
OXY's stock price is currently trading at $47.94, with a 14-day RSI of 51.72, indicating a neutral position. The MACD is slightly bearish, with a value of -0.27, suggesting some downward momentum. Key Fibonacci levels show resistance at $48.17 and $49.00, with support at $45.49 and $44.66.
Analyst Ratings:
Analysts have mixed opinions on OXY. Barclays maintains a Hold rating with a target price of $58, while Citi also has a Hold rating but lowered the target to $51. Raymond James, however, maintains a Buy rating, indicating some optimism.
Volume and Insider Activity:
Volume has increased on falling prices, which could signal caution. However, insider buying, including a significant purchase by Berkshire Hathaway, suggests confidence in the stock's potential.
Prediction and Recommendation:
Based on the analysis, OXY is expected to trade between $46.37 and $48.84 next week. The stock may test the lower support levels but could rebound due to positive news from the drilling expansion.
Prediction: The stock price is expected to be around $47.50.
Recommendation: Sell at $48.84 and buy at $46.37.
OXY Similar Chart Price Prediction
The price of OXY is predicted to go up 1.15%, based on the high correlation periods with VC. The similarity of these two price pattern on the periods is 94.51%.
OXY
VC
Up: 1.15%Similarity: 94.51%
OXY Revenue Forecast
OXY EPS Forecast
OXY FAQs
What is OXY revenue forecast for next quarter？
What is OXY eps forecast for next quarter？
OXY VS S&P500
Oxy has a dominant position in the Permian Basin, which is the cheapest source of production in the US and is expected to be a major growth engine in the next few years.
Oxy's conventional assets in the Gulf of Mexico and the Middle East complement its shale operations nicely by generating stable cash flows from assets with a much lower base decline rate.
The Oxy Low Carbon Ventures segment is synergistic with Oxy's chemical business, and Oxy's enhanced oil recovery portfolio holdings and expertise give it a natural advantage in carbon capture.
OXY Analyst's Forecast
Devin McDermott
Morgan Stanley
Buy
2025-03-27
Price Target
$63 → $58
Upside
+17.15%
Morgan Stanley analyst Devin McDermott lowered the firm's price target on Occidental Petroleum to $58 from $63 and keeps an Overweight rating on the shares. Despite generally cautious investor sentiment on oil markets, the energy sector has had a strong start to 2025, rising 8% year-to-date and outperforming the S&P by about 10%, notes the analyst, who updated models in the group for year-end reserves, the latest commodity prices and 2025 guidance. Following the updates, the firm's median gas E&P price target rises 9%, while oil E&P targets fall 11%, the analyst noted.
John Royall
JP Morgan
Hold
2025-03-13
Price Target
$59 → $52
Upside
+14.31%
John Freeman
Raymond James
Strong Buy → Buy
2025-03-10
Price Target
$81 → $64
Upside
+35.14%
