Occidental Petroleum Corporation ($OXY) Stock Forecast: Up 5.2% Today

What is Occidental Petroleum Corporation?

Occidental Petroleum (OXY) is an independent exploration and production company with operations across the United States, Latin America, and the Middle East. Today, OXY experienced a strong bullish movement in the market.

Why is Occidental Petroleum Corporation going up?

OXY stock is up 5.2% on Mar 12, 2026 19:51

• Occidental Petroleum's stock rallied strongly today, possibly driven by an upgrade from Underweight to Overweight and a significant increase in price target by 46.81% to $69.00.
• The bullish movement could also be influenced by the company being significantly undervalued by 46.3% according to a Discounted Cash Flow analysis, indicating a potential for further upside.
• Positive sentiment towards energy stocks amidst escalating oil prices and geopolitical tensions in a key region may have contributed to the bullish trend in OXY's stock.
• The overall bullish sentiment towards energy companies, as seen in multiple analyst upgrades within the sector, could have further boosted investor confidence in Occidental Petroleum.

OXY Price Chart

OXY Technical Analysis

OXY News

Is Occidental Petroleum (OXY) Pricing In DCF Upside After Recent Share Price Rally

This article analyzes Occidental Petroleum's (OXY) valuation following a recent share price rally. Using a Discounted Cash Flow (DCF) analysis, the stock appears significantly undervalued by 46.3%, with an intrinsic value of US$103.55 compared to its recent price of US$55.58. However, its P/E ratio of 40.60x, which is higher than the industry average, suggests it is overvalued on an earnings basis. The piece also introduces "Narratives" as a way for investors to create personalized valuations based on different assumptions about the company's future.

https://simplywall.st/stocks/us/energy/nyse-oxy/occidental-petroleum/news/is-occidental-petroleum-oxy-pricing-in-dcf-upside-after-rece

Devon Energy stock hits 52-week high at 46.17 USD

Devon Energy (DVN) stock recently hit a 52-week high of $46.17, reflecting a 36.43% increase over the past year and strong investor confidence. The company also reported Q4 earnings that matched expectations and revenue that exceeded projections. Analysts have maintained Outperform ratings, with some raising price targets due to capital efficiency improvements and rising crude oil prices.

https://www.investing.com/news/company-news/devon-energy-stock-hits-52week-high-at-4617-usd-93CH-4557622

Stock Market Live March 12, 2026: S&P 500 (SPY) Slips on Oil Again

The S&P 500 is slipping due to escalating oil prices and tensions in the Strait of Hormuz, with Energy Secretary Chris Wright noting the U.S. Navy is not yet ready to escort tankers. Cybersecurity stocks are gaining traction following a reported cyberattack on Stryker and warnings about Iranian cyber threats. Wells Fargo upgraded Occidental Petroleum due to potential for stronger Permian productivity and improved capital intensity, suggesting investors go long on energy stocks amidst the instability.

https://247wallst.com/investing/2026/03/12/stock-market-live-march-12-2026-sp-500-spy-slips-on-oil-again/

OXY: Wells Fargo Upgrades Occidental Petroleum to Overweight | O

Wells Fargo has upgraded Occidental Petroleum (OXY) from Underweight to Overweight, significantly raising its price target by 46.81% to $69.00. This upgrade comes amidst several recent analyst adjustments, with Goldman Sachs maintaining a Sell rating and UBS, Piper Sandler, Barclays, and BMO Capital maintaining Neutral/Market Perform ratings while increasing their price targets. Occidental Petroleum is an independent exploration and production company with operations across the United States, Latin America, and the Middle East, reporting 4.6 billion barrels of oil equivalent in net proved reserves at the end of 2024.

https://www.gurufocus.com/news/8700652/oxy-wells-fargo-upgrades-occidental-petroleum-to-overweight-oxy-stock-news

This Murphy Oil Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday

A Benzinga article details five significant analyst upgrades for Thursday, March 12, 2026. These include Murphy Oil (NYSE: MUR), Occidental Petroleum (NYSE: OXY) by Piper Sandler, Occidental Petroleum again by Wells Fargo, Ryanair Holdings (NASDAQ: RYAAY) by Evercore ISI Group, and UiPath (NYSE: PATH) by Needham. The upgrades reflect a bullish sentiment from top Wall Street analysts on these companies.

https://www.benzinga.com/analyst-stock-ratings/upgrades/26/03/51209055/this-murphy-oil-analyst-turns-bullish-here-are-top-5-upgrades-for-thursday

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Occidental Petroleum Corporation Price History

29.00.2026 - OXY Stock was up 1.6%

• An increased stake by Gifford Fong Associates and insider buying by William R. Klesse indicate confidence in OXY's future, which could boost investor sentiment.
• Despite some analysts downgrading the stock and an uptick in short interest, OXY's strong historical returns and move towards profitability have attracted long-term investors, who see the recent bullish movement as a buying opportunity.
• Exxon Mobil's commercial CCS project in Louisiana may have positively impacted the energy sector sentiment, indirectly benefiting OXY through its industry presence and potential environmental initiatives.
• Differing perspectives on OXY's stock, with institutional ownership and insider buying contrasting with increased short interest, mirror the mixed market sentiment and ongoing debate surrounding the company's future performance.

08.00.2026 - OXY Stock was up 5.0%

• OXY's bullish movement is linked to the recent sale of its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion. The sale was aimed at reducing Occidental's debt and improving its balance sheet, which has had a positive impact on investor confidence.
• The divestment of OxyChem allows Occidental to concentrate on its core oil and gas operations, particularly in the Permian Basin, Gulf of America waterfloods, and the Baqiyah gas and condensate discovery in Oman, leading to a more streamlined business model.
• Despite concerns about the absence of OxyChem, Berkshire Hathaway's increased ownership of OXY shares (now 27%) indicates confidence in Occidental's future growth prospects.
• Occidental's focus on debt reduction, core operations, and high-return opportunities, combined with its trading position above the 50-day simple moving average, positions the company well in the market amidst challenges like volatile commodity prices and declining earnings estimates.

12.01.2026 - OXY Stock was down 5.4%

• Occidental Petroleum sold its OxyChem chemicals business to Berkshire Hathaway to prioritize debt reduction and streamline its operations, showcasing a shift towards a more focused energy company. This move may have sparked concerns among investors regarding the company's future growth potential.
• The restructuring of a Delaware Basin contract to a fixed-fee model demonstrates the company's efforts to reduce costs and enhance flexibility amid a challenging market environment, potentially raising uncertainties about its revenue streams.
• Analysts' anticipation of Occidental Petroleum's Q4 2025 earnings decline, with projections of lower earnings and revenue, likely contributed to the bearish sentiment as investors prepared for disappointing financial results.
• The overall market movement seemed to be influenced by a combination of Occidental Petroleum's strategic decisions, earnings outlook, and broader industry trends, leading to a bearish sentiment among investors.

05.00.2026 - OXY Stock was down 5.5%

• OXY stock plummeted following the completion of the $9.7 billion sale of its OxyChem unit to Berkshire Hathaway. This move, aimed at streamlining operations, has raised concerns among investors about the company's future strategies and how it will utilize the cash from the sale.
• The bearish trend may also be influenced by the lingering uncertainties surrounding oil prices, as highlighted by the volatile nature of the industry and mixed analyst sentiments towards Occidental Petroleum.
• While OXY's divestment strategy could potentially strengthen its balance sheet, the market seems cautious about the company's ability to navigate through the challenges posed by fluctuating oil prices and the need to address leverage concerns.
• The overall market sentiment towards OXY appears to be impacted by the broader context of geopolitical events, such as the potential shifts in U.S. policy towards Venezuela's oil sector and the implications of OPEC+ meetings on global oil supply dynamics.

09.00.2026 - OXY Stock was up 5.1%

• The recent bullish movement in OXY's stock may be linked to the successful sale of its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion. This sale is part of Occidental's strategy to cut its significant debt and prioritize its core oil and gas activities.
• Market sentiment appears positive towards Occidental as it aims to strengthen its financial position, increase shareholder returns, and invest in profitable projects in key regions like Permian, Gulf of America, and Baqiyah gas and condensate discovery in Oman.
• Investors are showing confidence in Occidental's plan to reduce debt and concentrate on lucrative ventures, which is leading to a more optimistic outlook on the company's future financial performance.

19.01.2026 - OXY Stock was up 10.5%

• Occidental Petroleum's stock experienced a strong bullish movement today, rising by approximately 6%.
• The positive market movement can be attributed to better-than-expected fourth-quarter earnings, indicating that OXY's financial performance exceeded market expectations.
• Additionally, the initiation of cash tender offers for specific senior notes and debentures could have contributed to investor confidence in the company's financial stability and strategic planning.
• The technical breakout setup identified further reinforces the positive sentiment surrounding OXY, suggesting a potential uptrend continuation with a breakout above resistance levels.

19.01.2026 - OXY Stock was up 8.8%

• Occidental Petroleum's stock surged significantly after reporting better-than-expected Q4 earnings, with adjusted EPS surpassing market consensus. This positive performance was driven by operational efficiency, cost management, and the strategic sale of OxyChem, strengthening the company's financial position.
• The announcement of a dividend increase, substantial debt reduction, and a lower-than-expected capital expenditure outlook for 2026 further boosted investor confidence and free cash flow expectations, contributing to the bullish movement.
• The initiation of cash tender offers for specific notes and debentures, funded by recent proceeds from asset sales, also signaled Occidental's commitment to debt reduction and optimizing its capital structure, which likely resonated well with investors.
• Technical analysis pointing towards a potential breakout setup for OXY, based on strong technical health and setup quality scores, added to the positive sentiment surrounding the stock, attracting traders looking for opportunities in the current market environment.

12.02.2026 - OXY Stock was up 5.2%

• OXY witnessed a significant bullish trend today.
• A double upgrade by Wells Fargo to an overweight rating highlighted improved capital efficiency in the Permian Basin and strong productivity as factors fueling positive market sentiments.
• Rising West Texas Intermediate (WTI) crude oil prices, driven by global supply disruptions after the closure of the Strait of Hormuz by Iran, further enhanced OXY's prospects.
• Favorable assessments from various analysts, including Piper Sandler and other prominent Wall Street analysts, reflected a positive outlook on OXY and the wider oil and gas industry.

12.02.2026 - OXY Stock was up 7.4%

• OXY's stock surged significantly due to various reasons:
• Upgrades from Wells Fargo and Piper Sandler analysts, accompanied by substantial increases in price targets, influenced positive investor sentiment.
• Despite a high P/E ratio, the company's undervaluation according to a Discounted Cash Flow (DCF) analysis likely attracted value investors.
• Enhanced capital efficiency in the Permian Basin and strong productivity, emphasized by Wells Fargo's double upgrade, further bolstered the bullish trend.
• Overall, the market appears to be reflecting the upward potential for OXY, driven by analyst confidence and favorable industry conditions.

12.02.2026 - OXY Stock was up 5.2%

• Occidental Petroleum's stock rallied strongly today, possibly driven by an upgrade from Underweight to Overweight and a significant increase in price target by 46.81% to $69.00.
• The bullish movement could also be influenced by the company being significantly undervalued by 46.3% according to a Discounted Cash Flow analysis, indicating a potential for further upside.
• Positive sentiment towards energy stocks amidst escalating oil prices and geopolitical tensions in a key region may have contributed to the bullish trend in OXY's stock.
• The overall bullish sentiment towards energy companies, as seen in multiple analyst upgrades within the sector, could have further boosted investor confidence in Occidental Petroleum.

11.02.2026 - OXY Stock was up 5.1%

• Experienced a bearish movement, trading down 2.89% on March 10.
• The revised earnings outlook by a key industry player due to Middle East disruptions likely impacted the overall sentiment in the oil and gas sector, including OXY.
• Victory Capital Management Inc. reducing its stake in OXY may have added selling pressure on the stock.
• The negative market movement could also be influenced by broader factors such as crude oil price volatility and analyst forecasts suggesting a slight downside for OXY's stock.

04.01.2026 - OXY Stock was up 5.0%

• OXY experienced a bullish movement today, likely influenced by the overall positive sentiment in the oil and gas sector.
• Chevron's stock rising despite an HSBC downgrade and stable oil prices could have contributed to a general optimism in the industry, benefiting OXY as well.
• Enterprise Products Partners L.P.'s strong financial performance and future growth prospects in natural gas and NGL production may have boosted confidence in the sector, indirectly impacting OXY's stock positively.
• The potential for sharp oil price appreciation, as discussed in the bullish case theory for Petroleo Brasileiro S.A. Petrobras, could have created a favorable environment for oil-related stocks like OXY to thrive.